NovaBay Pharmaceuticals, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Fiscal Year 2023
March 14, 2024 at 08:00 am EDT
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NovaBay Pharmaceuticals, Inc. provided earnings guidance for the fourth quarter and full fiscal year 2023 . For the quarter, company expects to report net sales of $3.7 million. Operating loss for the fourth quarter of 2023 is expected to be approximately $3.2 million, due primarily to the $2.7 million loss in the DERMAdoctor skincare segment.
For the year, company expected to report net sales of $14.7 million. Operating loss for the 2023 fiscal year is expected to be approximately $7.4 million, which includes a $3.8 million loss in the DERMAdoctor skincare segment.
NovaBay Pharmaceuticals, Inc. develops and sells scientifically created and clinically proven eyecare and wound care products. Its product, Avenova Antimicrobial Lid and Lash Solution, has antimicrobial properties as it removes foreign material including microorganisms and debris from the skin around the eye, including the eyelid. It offers a portfolio of products for each step of the standard at home treatment regimen, including the Avenova Eye Health Support antioxidant-rich oral supplement, Avenova Lubricating Eye Drops for instant relief, NovaWipes by Avenova, Avenova Warm Eye Compress to soothe the eyes, and the i-Chek by Avenova to monitor physical eyelid health. It also manufactures and sells its proprietary form of hypochlorous acid for the wound care market with its NeutroPhase and PhaseOne branded products. NeutroPhase and PhaseOne are used for cleansing and irrigation as part of surgical procedures, as well as treating certain wounds, burns, ulcers and other injuries.