Evofem Bioscienc Financials

EVFM

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 12/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Evofem Bioscienc has an operating margin of -39.6%, meaning the company retains $-40 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -98.0% the prior year.

Growth

Evofem Bioscienc's revenue grew 6.3% year-over-year to $19.4M, a solid pace of expansion. This earns a growth score of 47/100.

Liquidity

Evofem Bioscienc's current ratio of 0.17 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.

Cash Flow

While Evofem Bioscienc generated -$3.9M in operating cash flow, capex of $14K consumed most of it, leaving -$3.9M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

3/9

Evofem Bioscienc passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.44x

For every $1 of reported earnings, Evofem Bioscienc generates $0.44 in operating cash flow (-$3.9M OCF vs -$8.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-3.4x

Evofem Bioscienc earns $-3.4 in operating income for every $1 of interest expense (-$7.7M vs $2.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Evofem Bioscienc (EVFM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$19.4M

YoY+6.3%

Evofem Bioscienc generated $19.4M in revenue in fiscal year 2024. This represents an increase of 6.3% from the prior year.

EBITDA

-$7.0M

YoY+59.5%

Evofem Bioscienc's EBITDA was -$7.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 59.5% from the prior year.

Free Cash Flow

-$3.9M

YoY+56.5%

Evofem Bioscienc generated -$3.9M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 56.5% from the prior year.

Net Income

-$8.9M

YoY-116.7%

Evofem Bioscienc reported -$8.9M in net income in fiscal year 2024. This represents a decrease of 116.7% from the prior year.

EPS (Diluted)

$-0.12

Evofem Bioscienc earned $-0.12 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 340.0% from the prior year.

Cash & Debt

$741K

YoY+27.8%

5Y CAGR-45.6%

10Y CAGR-37.1%

Evofem Bioscienc held $741K in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

113M

Evofem Bioscienc had 113M shares outstanding in fiscal year 2024. This represents an increase of 466.6% from the prior year.

Gross Margin

80.2%

YoY+15.9pp

Evofem Bioscienc's gross margin was 80.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 15.9 percentage points from the prior year.

Operating Margin

-39.6%

YoY+58.3pp

Evofem Bioscienc's operating margin was -39.6% in fiscal year 2024, reflecting core business profitability. This is up 58.3 percentage points from the prior year.

Net Margin

-45.8%

YoY-336.6pp

Evofem Bioscienc's net profit margin was -45.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 336.6 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$1.8M

YoY-37.2%

5Y CAGR-39.2%

10Y CAGR-9.8%

Evofem Bioscienc invested $1.8M in research and development in fiscal year 2024. This represents a decrease of 37.2% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$14K

YoY+250.0%

5Y CAGR-38.9%

10Y CAGR-2.5%

Evofem Bioscienc invested $14K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 250.0% from the prior year.

EVFM Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$19.4M+6.3%	$18.2M+8.2%	$16.8M+104.2%	$8.2M+1748.4%	$446K	$0
Cost of Revenue	$3.8M-41.1%	$6.5M+47.5%	$4.4M+8.9%	$4.1M+766.5%	$468K	$0
Gross Profit	$15.5M+32.7%	$11.7M-5.8%	$12.4M+196.5%	$4.2M+19140.9%	-$22K	$0
R&D Expenses	$1.8M-37.2%	$2.9M-88.3%	$25.0M-24.4%	$33.1M+94.3%	$17.1M-23.3%	$22.2M
SG&A Expenses	$11.6M-22.6%	$14.9M-45.8%	$27.6M+11.6%	$24.7M-17.9%	$30.1M+48.4%	$20.3M
Operating Income	-$7.7M+57.0%	-$17.8M+78.8%	-$84.1M+49.6%	-$166.8M-61.0%	-$103.6M-96.5%	-$52.7M
Interest Expense	$2.2M-1.2%	$2.3M+4.3%	$2.2M-18.3%	$2.7M+29.3%	$2.1M	$0
Income Tax	N/A	$17K-61.4%	$44K+158.8%	$17K+325.0%	$4K0.0%	$4K
Net Income	-$8.9M-116.7%	$53.0M+169.1%	-$76.7M+62.6%	-$205.2M-44.2%	-$142.3M-77.8%	-$80.0M
EPS (Diluted)	$-0.12	$0.05	$-167.42	$-23.63-1014.6%	$-2.12	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$5.0M+2.6%	$4.8M+471.0%	$845K-88.1%	$7.1M+70.8%	$4.2M+15.5%	$3.6M-25.5%	$4.8M-5.3%	$5.1M
Cost of Revenue	$905K+19.9%	$755K+106.8%	$365K-75.9%	$1.5M+96.6%	$769K+12.4%	$684K-28.3%	$954K-49.5%	$1.9M
Gross Profit	$4.0M-0.6%	$4.1M+747.9%	$480K-91.4%	$5.6M+64.9%	$3.4M+16.2%	$2.9M-24.9%	$3.9M+20.5%	$3.2M
R&D Expenses	N/A	N/A	N/A	$649K+140.4%	$270K-54.5%	$594K-57.0%	$1.4M+125.2%	$614K
SG&A Expenses	$2.1M+13.3%	$1.8M-22.1%	$2.4M-30.9%	$3.4M+50.9%	$2.3M-19.7%	$2.8M-13.2%	$3.3M+2.5%	$3.2M
Operating Income	$951K+176.0%	-$1.3M-482.6%	$327K+132.6%	-$1.0M+27.8%	-$1.4M+51.2%	-$2.8M+15.9%	-$3.4M+4.8%	-$3.6M
Interest Expense	$599K+1.9%	$588K+1.9%	$577K0.0%	$577K+5.7%	$546K-3.2%	$564K-1.2%	$571K+0.7%	$567K
Income Tax	-$4K-157.1%	$7K	N/A	-$8K-200.0%	$8K	N/A	$0-100.0%	$11K
Net Income	-$1.6M+12.1%	-$1.8M-286.6%	$956K+131.5%	-$3.0M-324.8%	$1.4M+128.1%	-$4.8M-127.5%	-$2.1M-103.2%	$66.0M
EPS (Diluted)	$-0.01+50.0%	$-0.02	$0.00-100.0%	$0.06	$0.00+100.0%	$-0.16-102.2%	$7.23+7130.0%	$0.10

EVFM Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$23.8M+125.4%	$10.6M-58.1%	$25.2M-40.8%	$42.5M-61.3%	$110.0M+288.6%	$28.3M
Current Assets	$13.6M+47.8%	$9.2M-27.5%	$12.7M-57.9%	$30.1M-69.2%	$97.7M+269.9%	$26.4M
Cash & Equivalents	$741K+27.8%	$580K-79.1%	$2.8M-64.2%	$7.7M-84.2%	$48.9M+214.0%	$15.6M
Inventory	$1.6M-7.1%	$1.7M-68.5%	$5.4M-29.9%	$7.7M+7.1%	$7.2M	$0
Accounts Receivable	$9.8M+71.3%	$5.7M+409.6%	$1.1M-82.5%	$6.4M+504.4%	$1.1M	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$95.0M+23.3%	$77.1M-20.5%	$97.0M-31.8%	$142.1M+30.8%	$108.6M+758.1%	$12.7M
Current Liabilities	$80.4M+11.0%	$72.5M-22.8%	$93.8M-31.8%	$137.7M+78.1%	$77.3M+510.5%	$12.7M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$71.3M-7.1%	-$66.5M+7.4%	-$71.8M+31.2%	-$104.3M-7844.2%	$1.3M-91.4%	$15.6M
Retained Earnings	-$897.7M-1.0%	-$888.7M+5.3%	-$938.7M-9.1%	-$860.7M-31.3%	-$655.5M-27.7%	-$513.2M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$13.8M-4.0%	$14.4M+11.7%	$12.9M-45.9%	$23.8M+178.2%	$8.6M+4.1%	$8.2M-22.1%	$10.6M-20.8%	$13.3M
Current Assets	$7.9M-11.7%	$9.0M+52.7%	$5.9M-56.8%	$13.6M+88.6%	$7.2M+4.2%	$6.9M-24.8%	$9.2M-19.9%	$11.5M
Cash & Equivalents	$840K+12.3%	$748K+238.5%	$221K-70.2%	$741K+7.1%	$692K+0.4%	$689K+18.8%	$580K+41.5%	$410K
Inventory	$1.7M-11.6%	$1.9M-15.8%	$2.3M+43.5%	$1.6M+48.8%	$1.1M-18.8%	$1.3M-23.0%	$1.7M-32.8%	$2.5M
Accounts Receivable	$4.4M-10.1%	$4.9M+329.4%	$1.1M-88.3%	$9.8M+113.0%	$4.6M+7.2%	$4.3M-25.0%	$5.7M-9.2%	$6.3M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$88.9M+5.8%	$84.0M+1.9%	$82.5M-13.2%	$95.0M+22.1%	$77.9M-1.3%	$78.9M+2.4%	$77.1M+13.5%	$67.9M
Current Liabilities	$78.2M+5.8%	$73.9M+4.3%	$70.9M-11.9%	$80.4M+9.9%	$73.2M-1.4%	$74.2M+2.5%	$72.5M+6.8%	$67.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$75.1M-7.8%	-$69.6M0.0%	-$69.6M+2.3%	-$71.3M-2.8%	-$69.3M+1.9%	-$70.7M-6.2%	-$66.5M-18.0%	-$56.4M
Retained Earnings	-$900.2M-0.2%	-$898.5M-0.2%	-$896.7M+0.1%	-$897.7M-0.6%	-$892.3M+0.1%	-$893.6M-0.5%	-$888.7M-0.5%	-$884.6M

EVFM Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$3.9M+56.7%	-$9.0M+87.3%	-$70.4M+52.0%	-$146.7M-39.9%	-$104.8M-90.3%	-$55.1M
Capital Expenditures	$14K+250.0%	$4K-98.8%	$341K-88.4%	$2.9M+30.4%	$2.3M+1274.4%	$164K
Free Cash Flow	-$3.9M+56.5%	-$9.0M+87.3%	-$70.8M+52.7%	-$149.6M-39.7%	-$107.1M-93.8%	-$55.3M
Investing Cash Flow	-$569K-14125.0%	-$4K+98.8%	-$341K+87.3%	-$2.7M-143.2%	$6.2M+176.8%	-$8.1M
Financing Cash Flow	$4.6M-3.4%	$4.8M-92.3%	$61.9M-31.7%	$90.7M-41.2%	$154.2M+97.5%	$78.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	$18K	$0	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$336K+111.5%	-$2.9M-621.3%	$560K+123.3%	-$2.4M-111.0%	-$1.1M-1027.6%	$123K+172.4%	-$170K+92.8%	-$2.4M
Capital Expenditures	$0	N/A	N/A	$0	$0-100.0%	$14K	$0	$0
Free Cash Flow	$336K	N/A	N/A	-$2.4M-111.0%	-$1.1M-1146.8%	$109K+164.1%	-$170K+92.8%	-$2.4M
Investing Cash Flow	$0+100.0%	-$2K+96.5%	-$57K-23.9%	-$46K	$0+100.0%	-$14K	$0	$0
Financing Cash Flow	-$244K-109.5%	$2.6M+1996.3%	-$135K-105.5%	$2.5M	N/A	N/A	$340K-84.1%	$2.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

EVFM Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	80.2%+15.9pp	64.3%-9.5pp	73.8%+23.0pp	50.8%+55.7pp	-4.9%	N/A
Operating Margin	-39.6%+58.3pp	-98.0%+401.7pp	-499.6%+1523.7pp	-2023.3%+21210.8pp	-23234.1%	N/A
Net Margin	-45.8%-336.6pp	290.8%+746.3pp	-455.5%+2033.5pp	-2489.0%+29418.9pp	-31907.9%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-37.2%-539.2pp	502.0%+806.8pp	-304.8%+177.9pp	-482.7%-353.3pp	-129.4%+153.4pp	-282.9%
Current Ratio	0.17+0.0	0.130.0	0.14-0.1	0.22-1.0	1.26-0.8	2.09
Debt-to-Equity	-1.33-0.2	-1.16+0.2	-1.35+0.0	-1.36-82.0	80.64+79.8	0.81
FCF Margin	-20.1%+29.1pp	-49.3%+371.0pp	-420.2%+1394.5pp	-1814.7%+22194.9pp	-24009.6%	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	81.7%-2.6pp	84.4%+27.6pp	56.8%-21.9pp	78.7%-2.8pp	81.5%+0.5pp	81.0%+0.7pp	80.3%+17.2pp	63.0%
Operating Margin	19.2%+45.1pp	-25.9%-64.6pp	38.7%+52.8pp	-14.1%+19.3pp	-33.4%+45.5pp	-78.9%-9.1pp	-69.8%-0.4pp	-69.5%
Net Margin	-31.7%+5.3pp	-37.0%-150.1pp	113.1%+155.9pp	-42.8%-75.2pp	32.5%+165.9pp	-133.5%-89.8pp	-43.7%-1334.9pp	1291.2%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-11.4%+1.0pp	-12.4%-19.8pp	7.4%+20.2pp	-12.8%-28.6pp	15.8%+74.3pp	-58.5%-38.5pp	-20.0%-515.5pp	495.5%
Current Ratio	0.10-0.0	0.12+0.0	0.08-0.1	0.17+0.1	0.100.0	0.09-0.0	0.13-0.0	0.17
Debt-to-Equity	-1.18+0.0	-1.21-0.0	-1.19+0.1	-1.33-0.2	-1.120.0	-1.12+0.0	-1.16+0.0	-1.20
FCF Margin	6.8%	N/A	N/A	-33.9%-6.5pp	-27.4%-30.5pp	3.0%+6.5pp	-3.5%+42.7pp	-46.2%

Note: Shareholder equity is negative (-$71.3M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.17), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Evofem Bioscienc's annual revenue?

Evofem Bioscienc (EVFM) reported $19.4M in total revenue for fiscal year 2024. This represents a 6.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Evofem Bioscienc's revenue growing?

Evofem Bioscienc (EVFM) revenue grew by 6.3% year-over-year, from $18.2M to $19.4M in fiscal year 2024.

Is Evofem Bioscienc profitable?

No, Evofem Bioscienc (EVFM) reported a net income of -$8.9M in fiscal year 2024, with a net profit margin of -45.8%.

What is Evofem Bioscienc's earnings per share (EPS)?

Evofem Bioscienc (EVFM) reported diluted earnings per share of $-0.12 for fiscal year 2024. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Evofem Bioscienc's EBITDA?

Evofem Bioscienc (EVFM) had EBITDA of -$7.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Evofem Bioscienc's gross margin?

Evofem Bioscienc (EVFM) had a gross margin of 80.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Evofem Bioscienc's operating margin?

Evofem Bioscienc (EVFM) had an operating margin of -39.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Evofem Bioscienc's net profit margin?

Evofem Bioscienc (EVFM) had a net profit margin of -45.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Evofem Bioscienc's free cash flow?

Evofem Bioscienc (EVFM) generated -$3.9M in free cash flow during fiscal year 2024. This represents a 56.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Evofem Bioscienc's operating cash flow?

Evofem Bioscienc (EVFM) generated -$3.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Evofem Bioscienc's total assets?

Evofem Bioscienc (EVFM) had $23.8M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Evofem Bioscienc's capital expenditures?

Evofem Bioscienc (EVFM) invested $14K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Evofem Bioscienc spend on research and development?

Evofem Bioscienc (EVFM) invested $1.8M in research and development during fiscal year 2024.

How many shares does Evofem Bioscienc have outstanding?

Evofem Bioscienc (EVFM) had 113M shares outstanding as of fiscal year 2024.

What is Evofem Bioscienc's current ratio?

Evofem Bioscienc (EVFM) had a current ratio of 0.17 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Evofem Bioscienc's debt-to-equity ratio?

Evofem Bioscienc (EVFM) had a debt-to-equity ratio of -1.33 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Evofem Bioscienc's return on assets (ROA)?

Evofem Bioscienc (EVFM) had a return on assets of -37.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Evofem Bioscienc's cash runway?

Based on fiscal year 2024 data, Evofem Bioscienc (EVFM) had $741K in cash against an annual operating cash burn of $3.9M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Why is Evofem Bioscienc's debt-to-equity ratio negative or unusual?

Evofem Bioscienc (EVFM) has negative shareholder equity of -$71.3M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Evofem Bioscienc's Piotroski F-Score?

Evofem Bioscienc (EVFM) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Evofem Bioscienc's earnings high quality?

Evofem Bioscienc (EVFM) has an earnings quality ratio of 0.44x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Evofem Bioscienc cover its interest payments?

Evofem Bioscienc (EVFM) has an interest coverage ratio of -3.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Evofem Bioscienc?

Evofem Bioscienc (EVFM) scores 12 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.