What is Novabay Pharma's earnings per share (EPS)?

Novabay Pharma (NBY) reported diluted earnings per share of $0.26 for fiscal year 2025. 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.

Novabay Pharma Financials

NBY

Source SEC Filings (10-K/10-Q) Updated Mar 19, 2026 Currency USD FYE March

This page shows Novabay Pharma (NBY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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).

Financial Health Signals

Piotroski F-Score Weak

2/9

Novabay Pharma passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.38x

For every $1 of reported earnings, Novabay Pharma generates $0.38 in operating cash flow (-$8.4M OCF vs -$22.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$22.1M

YoY-206.5%

Novabay Pharma reported -$22.1M in net income in fiscal year 2025. This represents a decrease of 206.5% from the prior year.

EPS (Diluted)

$0.26

Novabay Pharma earned $0.26 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$8.0M

YoY+1750.7%

5Y CAGR-7.8%

10Y CAGR+12.8%

Novabay Pharma held $8.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$4.00

Novabay Pharma paid $4.00 per share in dividends in fiscal year 2025.

Shares Outstanding

27M

Novabay Pharma had 27M shares outstanding in fiscal year 2025. This represents an increase of 445.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

NBY Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	$9.8M-6.4%	$10.5M-27.4%	$14.4M+41.2%	$10.2M+2.7%	$9.9M
Cost of Revenue	N/A	$3.3M-24.5%	$4.4M-34.0%	$6.6M+79.5%	$3.7M-7.1%	$4.0M
Gross Profit	N/A	$6.5M+6.5%	$6.1M-21.8%	$7.8M+19.4%	$6.5M+9.2%	$6.0M
R&D Expenses	N/A	$42K+23.5%	$34K-80.5%	$174K+295.5%	$44K-84.6%	$285K
SG&A Expenses	$7.6M+2.8%	$7.4M+35.5%	$5.4M-27.3%	$7.5M+3.4%	$7.2M+22.0%	$5.9M
Operating Income	-$8.4M-44.5%	-$5.8M-42.3%	-$4.1M+71.5%	-$14.4M-62.7%	-$8.9M-37.9%	-$6.4M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	$0	$0	$0	$0-100.0%	$5K
Net Income	-$22.1M-206.5%	-$7.2M+25.1%	-$9.6M+9.1%	-$10.6M-82.1%	-$5.8M+47.2%	-$11.0M
EPS (Diluted)	$0.26	N/A	N/A	N/A	N/A	$-0.31

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$521K	N/A	N/A	N/A	$0-100.0%	$2.4M-8.8%	$2.6M+25.2%	$2.1M
Cost of Revenue	$479K	N/A	N/A	N/A	$0-100.0%	$808K-3.5%	$837K-17.8%	$1.0M
Gross Profit	$42K	N/A	N/A	N/A	$0-100.0%	$1.6M-11.3%	$1.8M+65.7%	$1.1M
R&D Expenses	N/A	N/A	N/A	N/A	$4K-55.6%	$9K-52.6%	$19K+1050.0%	-$2K
SG&A Expenses	$1.2M-36.0%	$1.9M-30.0%	$2.7M	N/A	$1.7M+5.3%	$1.6M-29.4%	$2.3M+115.7%	$1.1M
Operating Income	-$1.3M+33.6%	-$1.9M+42.5%	-$3.3M	N/A	-$1.7M-5.3%	-$1.6M+29.4%	-$2.3M-127.3%	-$1.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0-100.0%	$100K-66.7%	$300K	N/A	$0	$0	$0	N/A
Net Income	-$1.3M+32.7%	-$1.9M-125.1%	$7.7M	N/A	-$1.2M+23.5%	-$1.6M+50.7%	-$3.2M+21.8%	-$4.1M
EPS (Diluted)	$-0.22	$-0.33-123.2%	$1.42	N/A	$-1.92-40.1%	$-1.37	$-29.95	N/A

NBY Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$9.0M+163.9%	$3.4M-62.1%	$9.0M-44.9%	$16.4M-31.6%	$24.0M+57.4%	$15.2M
Current Assets	$8.7M+348.3%	$1.9M-73.0%	$7.2M-36.9%	$11.3M-14.0%	$13.2M-7.5%	$14.2M
Cash & Equivalents	$8.0M+1750.7%	$430K-85.3%	$2.9M-45.5%	$5.4M-28.5%	$7.5M-37.2%	$12.0M
Inventory	N/A	$0-100.0%	$501K-85.4%	$3.4M+6.7%	$3.2M+429.6%	$608K
Accounts Receivable	N/A	N/A	$680K-65.5%	$2.0M	N/A	N/A
Goodwill	N/A	N/A	$0-100.0%	$348K-92.3%	$4.5M	$0
Total Liabilities	$31.9M+797.0%	$3.6M-37.9%	$5.7M-2.1%	$5.8M-57.7%	$13.8M+372.8%	$2.9M
Current Liabilities	$1.1M-59.8%	$2.8M-33.5%	$4.3M+0.5%	$4.3M+23.7%	$3.4M+21.5%	$2.8M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$23.2M-17865.9%	-$129K-103.9%	$3.3M-68.6%	$10.6M+3.8%	$10.2M-17.4%	$12.3M
Retained Earnings	-$210.4M-14.7%	-$183.5M-4.9%	-$174.8M-10.6%	-$158.2M-11.5%	-$141.9M-4.3%	-$136.1M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$3.5M-49.5%	$6.9M-30.0%	$9.9M+188.4%	$3.4M-11.7%	$3.9M-1.2%	$3.9M-26.7%	$5.4M-40.7%	$9.0M
Current Assets	$2.9M-52.6%	$6.1M-32.3%	$9.0M+367.1%	$1.9M-15.1%	$2.3M+1.2%	$2.3M-37.3%	$3.6M-49.8%	$7.2M
Cash & Equivalents	$2.3M-56.8%	$5.3M-36.9%	$8.5M+1869.1%	$430K-44.6%	$776K+3.3%	$751K-58.8%	$1.8M-37.7%	$2.9M
Inventory	N/A	$467K	N/A	$0-100.0%	$473K-32.4%	$700K+5.6%	$663K+32.3%	$501K
Accounts Receivable	N/A	N/A	N/A	N/A	$704K+28.7%	$547K-25.5%	$734K+7.9%	$680K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0
Total Liabilities	$1.9M-30.5%	$2.7M-28.0%	$3.7M+4.3%	$3.6M+26.6%	$2.8M-38.2%	$4.5M-12.6%	$5.2M-9.1%	$5.7M
Current Liabilities	$1.4M-32.5%	$2.1M-30.1%	$3.1M+7.9%	$2.8M+43.3%	$2.0M-45.0%	$3.6M-8.0%	$3.9M-8.3%	$4.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.1M-73.9%	$4.2M-31.2%	$6.2M+4880.6%	-$129K-112.0%	$1.1M+273.7%	-$617K-485.6%	$160K-95.2%	$3.3M
Retained Earnings	-$183.8M-3.4%	-$177.7M-1.1%	-$175.8M+4.2%	-$183.5M-0.7%	-$182.2M-1.2%	-$180.0M-0.9%	-$178.4M-2.1%	-$174.8M

NBY Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$8.4M-62.6%	-$5.2M-25.5%	-$4.1M+37.9%	-$6.7M+27.6%	-$9.2M-94.7%	-$4.7M
Capital Expenditures	N/A	$6K-68.4%	$19K-83.0%	$112K+115.4%	$52K+100.0%	$26K
Free Cash Flow	N/A	-$5.2M-25.0%	-$4.2M+38.7%	-$6.8M+26.8%	-$9.2M-94.7%	-$4.7M
Investing Cash Flow	N/A	$1.1M+5700.0%	-$19K+83.0%	-$112K+99.1%	-$12.0M-46226.9%	-$26K
Financing Cash Flow	$4.6M+207.7%	$1.5M-21.5%	$1.9M-58.8%	$4.6M-72.4%	$16.8M+72.0%	$9.8M
Dividends Paid	$4.8M	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$1.8M+38.5%	-$3.0M-125.9%	-$1.3M-307.5%	$638K+126.1%	-$2.4M-74.4%	-$1.4M+29.3%	-$2.0M-234.3%	-$592K
Capital Expenditures	$0	$0	$0-100.0%	$4K	$0	$0-100.0%	$2K-33.3%	$3K
Free Cash Flow	-$1.8M+38.5%	-$3.0M-125.9%	-$1.3M-308.8%	$634K+126.0%	-$2.4M-74.4%	-$1.4M+29.3%	-$2.0M-232.9%	-$595K
Investing Cash Flow	$0	$0	$0-100.0%	$1.1M	$0	$0+100.0%	-$2K+33.3%	-$3K
Financing Cash Flow	-$1.3M-658.0%	-$174K+89.8%	-$1.7M-440.9%	$501K-76.0%	$2.1M+524.4%	-$492K+17.6%	-$597K-2196.2%	-$26K
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	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	66.3%+8.1pp	58.2%+4.2pp	54.0%-9.8pp	63.8%+3.8pp	60.0%
Operating Margin	N/A	-59.7%-20.5pp	-39.2%+60.9pp	-100.1%-13.2pp	-86.9%-22.2pp	-64.7%
Net Margin	N/A	-73.9%+18.4pp	-92.2%-18.6pp	-73.7%-16.6pp	-57.1%+54.0pp	-111.1%
Return on Equity	N/A	N/A	-290.9%-190.4pp	-100.5%-43.3pp	-57.3%+32.4pp	-89.6%
Return on Assets	-245.1%-34.1pp	-211.0%-104.3pp	-106.7%-42.0pp	-64.7%-40.4pp	-24.3%+48.2pp	-72.4%
Current Ratio	7.60+6.9	0.68-1.0	1.67-1.0	2.66-1.2	3.83-1.2	5.03
Debt-to-Equity	-1.37+26.2	-27.53-29.3	1.73+1.2	0.55-0.8	1.36+1.1	0.24
FCF Margin	N/A	-53.0%-13.4pp	-39.7%+7.3pp	-47.0%+43.6pp	-90.6%-42.8pp	-47.8%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	8.1%	N/A	N/A	N/A	N/A	66.3%-1.9pp	68.2%+16.6pp	51.5%
Operating Margin	-241.1%	N/A	N/A	N/A	N/A	-67.4%+19.7pp	-87.1%-39.1pp	-48.0%
Net Margin	-248.2%	N/A	N/A	N/A	N/A	-66.0%+56.1pp	-122.2%+73.4pp	-195.5%
Return on Equity	-116.6%-71.3pp	-45.3%-169.6pp	124.4%	N/A	-113.1%	N/A	-2008.7%-1884.8pp	-124.0%
Return on Assets	-37.1%-9.3pp	-27.8%-105.5pp	77.7%	N/A	-31.3%+9.1pp	-40.4%+19.6pp	-60.0%-14.5pp	-45.5%
Current Ratio	2.00-0.9	2.85-0.1	2.95+2.3	0.68-0.5	1.15+0.5	0.62-0.3	0.92-0.8	1.67
Debt-to-Equity	1.67+1.0	0.63+0.0	0.60+28.1	-27.53-30.2	2.62+10.0	-7.36-39.8	32.48+30.8	1.73
FCF Margin	-353.2%	N/A	N/A	N/A	N/A	-58.3%+17.0pp	-75.3%-47.0pp	-28.3%

Note: Shareholder equity is negative (-$23.2M), 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.

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Frequently Asked Questions

Is Novabay Pharma profitable?

No, Novabay Pharma (NBY) reported a net income of -$22.1M in fiscal year 2025.

Does Novabay Pharma pay dividends?

Yes, Novabay Pharma (NBY) paid $4.00 per share in dividends during fiscal year 2025.

What is Novabay Pharma's operating cash flow?

Novabay Pharma (NBY) generated -$8.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Novabay Pharma's total assets?

Novabay Pharma (NBY) had $9.0M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Novabay Pharma have outstanding?

Novabay Pharma (NBY) had 27M shares outstanding as of fiscal year 2025.

What is Novabay Pharma's current ratio?

Novabay Pharma (NBY) had a current ratio of 7.60 as of fiscal year 2025, which is generally considered healthy.

What is Novabay Pharma's debt-to-equity ratio?

Novabay Pharma (NBY) had a debt-to-equity ratio of -1.37 as of fiscal year 2025, 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 -245.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Novabay Pharma's cash runway?

Based on fiscal year 2025 data, Novabay Pharma (NBY) had $8.0M in cash against an annual operating cash burn of $8.4M. This gives an estimated cash runway of approximately 11 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 -$23.2M as of fiscal year 2025, 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 2 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 0.38x, 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.