Novabay Pharma Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Novabay Pharma has an operating margin of -59.7%, meaning the company retains $-60 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 down from -39.2% the prior year.
Novabay Pharma's revenue declined 6.4% year-over-year, from $10.5M to $9.8M. This contraction results in a growth score of 10/100.
Novabay Pharma's current ratio of 0.68 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 7/100, which could limit financial flexibility.
While Novabay Pharma generated -$5.2M in operating cash flow, capex of $6K consumed most of it, leaving -$5.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Novabay Pharma passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Novabay Pharma generates $0.72 in operating cash flow (-$5.2M OCF vs -$7.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
This page shows Novabay Pharma (NBY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
Key Financial Metrics
Novabay Pharma generated $9.8M in revenue in fiscal year 2024. This represents a decrease of 6.4% from the prior year.
Novabay Pharma's EBITDA was -$5.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 39.4% from the prior year.
Novabay Pharma generated -$5.2M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 25.0% from the prior year.
Novabay Pharma reported -$7.2M in net income in fiscal year 2024. This represents an increase of 25.1% from the prior year.
Novabay Pharma held $430K in cash against $0 in long-term debt as of fiscal year 2024.
Novabay Pharma had 5M shares outstanding in fiscal year 2024. This represents an increase of 1421.8% from the prior year.
Novabay Pharma's gross margin was 66.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 8.1 percentage points from the prior year.
Novabay Pharma's operating margin was -59.7% in fiscal year 2024, reflecting core business profitability. This is down 20.5 percentage points from the prior year.
Novabay Pharma's net profit margin was -73.9% in fiscal year 2024, showing the share of revenue converted to profit. This is up 18.4 percentage points from the prior year.
Novabay Pharma invested $42K in research and development in fiscal year 2024. This represents an increase of 23.5% from the prior year.
Novabay Pharma invested $6K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 68.4% from the prior year.
NBY Income Statement
| Metric | Q3'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $521K-89.0% | $4.8M+97.9% | $2.4M-8.8% | $2.6M+25.2% | $2.1M-15.3% | $2.5M-29.8% | $3.5M+51.1% | $2.3M |
| Cost of Revenue | $479K-71.1% | $1.7M+104.8% | $808K-3.5% | $837K-17.8% | $1.0M+24.3% | $819K-54.4% | $1.8M+142.9% | $739K |
| Gross Profit | $42K-98.6% | $3.1M+94.4% | $1.6M-11.3% | $1.8M+65.7% | $1.1M-34.8% | $1.7M-4.4% | $1.7M+8.7% | $1.6M |
| R&D Expenses | N/A | $10K+11.1% | $9K-52.6% | $19K+1050.0% | -$2K-150.0% | $4K-81.8% | $22K+120.0% | $10K |
| SG&A Expenses | $1.2M-31.5% | $1.8M+9.3% | $1.6M-29.4% | $2.3M+115.7% | $1.1M-2.8% | $1.1M-31.4% | $1.6M-6.2% | $1.7M |
| Operating Income | -$1.3M-450.9% | -$228K+85.9% | -$1.6M+29.4% | -$2.3M-127.3% | -$1.0M-44.4% | -$698K+33.6% | -$1.1M+21.9% | -$1.3M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $0 | $0 | $0 | $0 | N/A | N/A | N/A | N/A |
| Net Income | -$1.3M-6.7% | -$1.2M+23.5% | -$1.6M+50.7% | -$3.2M+21.8% | -$4.1M-133.8% | -$1.8M+13.7% | -$2.0M-17.1% | -$1.7M |
| EPS (Diluted) | $-0.22+88.5% | $-1.92-40.1% | $-1.37 | $-29.95 | N/A | N/A | N/A | N/A |
NBY Balance Sheet
| Metric | Q3'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.5M+1.9% | $3.4M-12.8% | $3.9M-26.7% | $5.4M-40.7% | $9.0M-29.7% | $12.9M-19.7% | $16.0M+8.0% | $14.8M |
| Current Assets | $2.9M+49.8% | $1.9M-14.1% | $2.3M-37.3% | $3.6M-49.8% | $7.2M-12.9% | $8.2M-26.8% | $11.2M+13.4% | $9.9M |
| Cash & Equivalents | $2.3M+437.0% | $430K-42.7% | $751K-58.8% | $1.8M-37.7% | $2.9M-15.8% | $3.5M-21.3% | $4.4M+17.8% | $3.7M |
| Inventory | $467K | $0-100.0% | $700K+5.6% | $663K+32.3% | $501K-85.7% | $3.5M-4.6% | $3.7M-3.6% | $3.8M |
| Accounts Receivable | N/A | $704K+28.7% | $547K-25.5% | $734K+7.9% | $680K | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | $0-100.0% | $348K0.0% | $348K0.0% | $348K |
| Total Liabilities | $1.9M-47.8% | $3.6M-21.8% | $4.5M-12.6% | $5.2M-9.1% | $5.7M-1.6% | $5.8M-21.9% | $7.4M+25.4% | $5.9M |
| Current Liabilities | $1.4M-49.1% | $2.8M-21.2% | $3.6M-8.0% | $3.9M-8.3% | $4.3M-6.4% | $4.6M-24.6% | $6.1M+37.1% | $4.4M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.1M+959.7% | -$129K+79.1% | -$617K-485.6% | $160K-95.2% | $3.3M-52.9% | $7.0M-17.8% | $8.6M-3.7% | $8.9M |
| Retained Earnings | -$183.8M-0.2% | -$183.5M-1.9% | -$180.0M-0.9% | -$178.4M-2.1% | -$174.8M-5.5% | -$165.7M-1.1% | -$163.9M-2.5% | -$159.9M |
NBY Cash Flow Statement
| Metric | Q3'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.8M-388.4% | $638K+145.6% | -$1.4M+29.3% | -$2.0M-234.3% | -$592K+8.4% | -$646K+62.1% | -$1.7M-43.7% | -$1.2M |
| Capital Expenditures | $0-100.0% | $4K | $0-100.0% | $2K-33.3% | $3K+200.0% | $1K-50.0% | $2K-84.6% | $13K |
| Free Cash Flow | -$1.8M-390.2% | $634K+145.3% | -$1.4M+29.3% | -$2.0M-232.9% | -$595K+8.0% | -$647K+62.1% | -$1.7M-42.3% | -$1.2M |
| Investing Cash Flow | $0-100.0% | $1.1M | $0+100.0% | -$2K+33.3% | -$3K-200.0% | -$1K+50.0% | -$2K+84.6% | -$13K |
| Financing Cash Flow | -$1.3M-363.3% | $501K+201.8% | -$492K+17.6% | -$597K-2196.2% | -$26K+95.5% | -$577K-123.0% | $2.5M | $0 |
| Dividends Paid | $4.8M | 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 |
NBY Financial Ratios
| Metric | Q3'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 8.1%-57.1pp | 65.2%-1.2pp | 66.3%-1.9pp | 68.2%+16.6pp | 51.5%-15.4pp | 67.0%+17.8pp | 49.2%-19.2pp | 68.4% |
| Operating Margin | -241.1%-236.3pp | -4.8%+62.6pp | -67.4%+19.7pp | -87.1%-39.1pp | -48.0%-19.9pp | -28.1%+1.6pp | -29.7%+27.8pp | -57.5% |
| Net Margin | -248.2%-222.7pp | -25.5%+40.5pp | -66.0%+56.1pp | -122.2%+73.4pp | -195.5%-124.7pp | -70.8%-13.2pp | -57.6%+16.7pp | -74.4% |
| Return on Equity | 124.4% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -37.1%-1.7pp | -35.4%+5.0pp | -40.4%+19.6pp | -60.0%-14.5pp | -45.5%-31.8pp | -13.7%-0.9pp | -12.7%-1.0pp | -11.7% |
| Current Ratio | 2.00+1.3 | 0.68+0.1 | 0.62-0.3 | 0.92-0.8 | 1.67-0.1 | 1.80-0.1 | 1.85-0.4 | 2.24 |
| Debt-to-Equity | 1.67+29.2 | -27.53-20.2 | -7.36-39.8 | 32.48+30.8 | 1.73+0.9 | 0.83-0.0 | 0.87+0.2 | 0.67 |
| FCF Margin | -353.2%-366.5pp | 13.4%+71.7pp | -58.3%+17.0pp | -75.3%-47.0pp | -28.3%-2.2pp | -26.1%+22.3pp | -48.3%+3.0pp | -51.3% |
Note: Shareholder equity is negative (-$129K), 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 (0.68), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Novabay Pharma's annual revenue?
Novabay Pharma (NBY) reported $9.8M in total revenue for fiscal year 2024. This represents a -6.4% 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 Novabay Pharma's revenue growing?
Novabay Pharma (NBY) revenue declined by 6.4% year-over-year, from $10.5M to $9.8M in fiscal year 2024.
Is Novabay Pharma profitable?
No, Novabay Pharma (NBY) reported a net income of -$7.2M in fiscal year 2024, with a net profit margin of -73.9%.
What is Novabay Pharma's EBITDA?
Novabay Pharma (NBY) had EBITDA of -$5.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Novabay Pharma's gross margin?
Novabay Pharma (NBY) had a gross margin of 66.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Novabay Pharma's operating margin?
Novabay Pharma (NBY) had an operating margin of -59.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Novabay Pharma's net profit margin?
Novabay Pharma (NBY) had a net profit margin of -73.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Novabay Pharma's free cash flow?
Novabay Pharma (NBY) generated -$5.2M in free cash flow during fiscal year 2024. This represents a -25.0% 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 Novabay Pharma's operating cash flow?
Novabay Pharma (NBY) generated -$5.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Novabay Pharma's total assets?
Novabay Pharma (NBY) had $3.4M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Novabay Pharma's capital expenditures?
Novabay Pharma (NBY) invested $6K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Novabay Pharma spend on research and development?
Novabay Pharma (NBY) invested $42K in research and development during fiscal year 2024.
How many shares does Novabay Pharma have outstanding?
Novabay Pharma (NBY) had 5M shares outstanding as of fiscal year 2024.
What is Novabay Pharma's current ratio?
Novabay Pharma (NBY) had a current ratio of 0.68 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Novabay Pharma's debt-to-equity ratio?
Novabay Pharma (NBY) had a debt-to-equity ratio of -27.53 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Novabay Pharma's return on assets (ROA)?
Novabay Pharma (NBY) had a return on assets of -211.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Novabay Pharma's cash runway?
Based on fiscal year 2024 data, Novabay Pharma (NBY) had $430K in cash against an annual operating cash burn of $5.2M. This gives an estimated cash runway of approximately 1 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 Novabay Pharma's debt-to-equity ratio negative or unusual?
Novabay Pharma (NBY) has negative shareholder equity of -$129K 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 Novabay Pharma's Piotroski F-Score?
Novabay Pharma (NBY) 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 Novabay Pharma's earnings high quality?
Novabay Pharma (NBY) has an earnings quality ratio of 0.72x, 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.
How financially healthy is Novabay Pharma?
Novabay Pharma (NBY) scores 4 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.