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Benzinga
Benzinga
Business
Shivani Kumaresan

Veru Q1 Earnings Top Estimates

VERU United States Veru Inc
  • 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.
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