- Veru Inc (NASDAQ:VERU) reported a first-quarter FY22 sales decline of 3% year-on-year, to $14.13 million, beating the analyst consensus of $13 million.
- U.S. FC2 prescription net revenues climbed 27% Y/Y to $11.6 million.
- Gross profit rose 9% to $11.8 million, while the margin expanded 1000 basis points Y/Y to 84%.
- The operating loss for the quarter was $(5) million.
- EPS loss of $(0.08) beat the analyst consensus of $(0.12).
- "In addition to securing additional telemedicine and internet pharmacy partners, we are actively constructing our own direct-to-patient telemedicine and internet pharmacy services platform to further increase the US prescription business," said CEO Mitchell Steiner.
- The company held $116.1 million in cash and equivalents as of December 31, 2021.
- Price Action: VERU shares traded lower by 0.88% at $5.60 in premarket on the last check Wednesday.
