Evofem Biosciences (EVFM) Q2 2026 earnings summary

Executive summary

• Commercial portfolio includes PHEXX (non-hormonal contraceptive gel) and SOLOSEC (single-dose antimicrobial for BV and trichomoniasis), with global rights to SOLOSEC acquired in July 2024.

• Net product sales declined 45% year-over-year for Q2 2026, primarily due to lower PHEXX sales after a large wholesaler purchase in late 2025 and temporary Medicaid exclusion, partially offset by SOLOSEC growth.

• Company maintains a lean operating structure, focusing on top-line growth, cost alignment, and strategic partnerships for global expansion.

Financial highlights

• Q2 2026 net product sales: $2.6M, down from $4.8M in Q2 2025 (−45%).

• Net loss attributable to common stockholders for Q2 2026: $11.1M, compared to $1.8M in Q2 2025.

• Six-month net loss: $16.6M (2026) vs. $0.8M (2025).

• Working capital deficit of $82.5M and accumulated deficit of $914.0M as of June 30, 2026.

• Restricted cash and cash equivalents: $0.3M at quarter end.

Outlook and guidance

• Management expects continued net losses and negative cash flows for the foreseeable future.

• Plans to generate revenue from PHEXX and SOLOSEC, restructure payables, and seek additional funding through equity, debt, or partnerships.

• Substantial doubt exists about the ability to continue as a going concern without new funding.