Dare Bioscience 2025 Q3 Earnings Losses Narrowed by 24.2% Amid Product Launches

Dare Bioscience (DARE) reported fiscal 2025 Q3 earnings on Nov 13, 2025, with a GAAP EPS of -$0.28, beating estimates by $0.11. The company narrowed its net loss by 24.2% year-over-year to -$3.56 million and provided guidance for near-term product launches, including DARE to PLAY™ Sildenafil Cream.

Revenue

Dare Bioscience’s total revenue plummeted 94.6% to $2,262 in Q3 2025 from $41,691 in the prior-year period. Royalty revenue, the sole contributor to total revenue, stood at $2,262, reflecting a significant decline in income generation.

Earnings/Net Income

The company reduced its per-share loss by 49.1% to -$0.28, while net losses narrowed to -$3.56 million, a 24.2% improvement from -$4.70 million in Q3 2024. Despite these gains, Dare Bioscience has posted losses for six consecutive years, underscoring persistent financial challenges.

Price Action

DARE’s stock fell 5.50% on the latest trading day but gained 4.42% over the past week. Month-to-date, however, it declined 8.25%, reflecting mixed short-term investor sentiment.

Post-Earnings Price Action Review

The strategy of purchasing DARE shares on earnings dates and holding for 30 days yielded a 14.28% return over three years, albeit with volatility. Quarterly performance varied: Q2 2025 saw a 6.00% gain post-earnings, while Q4 2024 showed no movement. Earnings outcomes significantly influenced price action, with Q2 2025’s beat driving gains and Q4 2024’s miss having no effect. Dare’s $23.1 million cash balance as of Sept 30, 2025, may have stabilized its stock during market uncertainty. While the strategy showed potential, inconsistent profitability highlights the need for investors to consider broader market dynamics and the company’s financial health.

CEO Commentary

CEO Sabrina Martucci Johnson emphasized a “historic inflection point” for Dare, citing the December 2025 launch of DARE to PLAY™ Sildenafil Cream and pipeline advancements. Four women’s health products, including DARE to RESTORE™ and DARE to RECLAIM™, are slated for 2026-2027.

Guidance

Dare anticipates $23.1 million in cash by Sept 30, 2025, with R&D expenses at $1.2 million (vs. $2.7 million in Q3 2024). Grant funding for DARE-HPV, DARE-LARC1, and DARE-NHC programs remains robust, with $10 million in installments received in July and October 2025.

Additional News

1. Product Launch: DARE to PLAY™ Sildenafil Cream is on track for a December 2025 launch via 503B compounding, marking Dare’s first revenue-generating product.

2. Grant Funding: The company secured $10 million in grant funding for contraceptive and HPV research, including a $4 million installment for its DARE-LARC1 platform.

3. Cash Position: Dare reported $23.1 million in cash and $3.8 million in working capital as of Sept 30, 2025, bolstering its financial flexibility.