Eyecare revenue for both the second quarter and
the first half of 2024 increased by 9% over the comparable
prior-year periods, driven by higher online sales
The number of Avenova® subscribers on Amazon
increased by 64% since the beginning of 2023 and by 123% since the
beginning of 2022
NovaBay Pharmaceuticals, Inc. (NYSE American: NBY) (the
“Company” or “NovaBay”) announces preliminary net revenue for the
second quarter of 2024 of $2.4 million and for the first half of
2024 of $5.0 million, primarily derived from the Company’s eyecare
products. Net revenue from the Company’s eyecare products increased
by 9% for both the second quarter and the first half of 2024 over
the corresponding periods in 2023. NovaBay also expects 2024 net
revenue from the Company’s eyecare products to be approximately $10
million.
“The increase in eyecare net revenue so far this year was driven
by higher sales of Avenova-branded products through online
channels. We benefitted from growth in Avenova sales due to our
loyal Amazon and Avenova.com subscribers with our subscriber base
accounting for approximately 23% of all online Avenova revenue for
the first half of this year,” said Justin Hall, CEO of NovaBay.
“Growth in our subscriber base is critical to our business
success because these loyal customers generate consistent sales
that we can build upon through our cost-efficient digital marketing
programs. In fact, even with this year’s expected revenue growth,
we anticipate a slight year-over-year decline in sales and
marketing expenses,” he added. “Our ability to consistently grow
our base underscores our belief that first-time consumers who use
our high-quality Avenova products typically return as satisfied
repeat customers. This further supports NovaBay’s strategic focus
on the large, growing U.S. dry eye market.”
The number of Avenova subscribers on Amazon, the Company’s
largest sales channel, increased 16% during the first six months of
2024 and is up 123% since the beginning of 2022. In addition, of
the more than 14,000 customer ratings across all online channels,
Avenova Lid & Lash Solution averages an impressive 4.5-star
overall rating.
NovaBay offers a full portfolio of scientifically developed
products for each step of the standard dry eye treatment regimen.
These include Avenova Lid & Lash Solution, prescribed
hypochlorous acid product for eyelid and eyelash cleansing, Avenova
Eye Health Support antioxidant-rich oral supplement, Avenova
Lubricating Eye Drops for instant relief, Avenova Warm Eye Compress
to soothe the eyes and the i-Chek by Avenova to monitor physical
eyelid health. The Avenova Allograft, an amniotic tissue
prescription-only product, is available through eyecare
professionals in the U.S.
About NovaBay Pharmaceuticals, Inc.
NovaBay’s leading product Avenova® Antimicrobial Lid & Lash
Solution is often prescribed by eyecare professionals for
blepharitis and dry eye disease. Manufactured in the U.S., Avenova
spray is formulated with NovaBay's patented, proprietary, stable
and pure form of hypochlorous acid. It is clinically proven to kill
a broad spectrum of bacteria to help relieve the symptoms of
bacterial dry eye, yet is non-irritating and completely safe for
regular use. All Avenova products are available directly to
consumers through online distribution channels such as Amazon.com
and Avenova.com.
Notice
NovaBay filed a registration statement on Form S-1 (File No.
333-280423) (the “Registration Statement”) with the U.S. Securities
and Exchange Commission (the “SEC”), including a preliminary
prospectus dated July 10, 2024 (the “Preliminary Prospectus”), with
the SEC relating to its proposed offer and sale of securities of
NovaBay (the “offering”); however, the Registration Statement has
not yet become effective. These securities may not be sold nor may
offers to buy be accepted prior to the time the Registration
Statement becomes effective.
This press release does not constitute an offer to sell, nor a
solicitation of an offer to buy, any securities by any person in
any jurisdiction in which it is unlawful for such person to make
such an offering or solicitation. Neither the SEC nor any other
regulatory body has approved or disapproved of our securities or
passed upon the accuracy or adequacy of this press release. Any
representation to the contrary is a criminal offense. Before you
invest, you should read the Preliminary Prospectus (including the
risk factors described therein) in the Registration Statement and,
when available, the final prospectus relating to the offering, and
the other documents we have filed with the SEC, for more complete
information about the Company and the offering. You may obtain
these documents, including the Preliminary Prospectus, for free by
visiting EDGAR on the SEC website at http://www.sec.gov. A copy of
the preliminary prospectus is also available at:
https://www.sec.gov/Archives/edgar/data/1389545/000143774924022434/nby20240709_s1a.htm
Alternatively, copies of the Preliminary Prospectus may be
obtained, when available, from: Ladenburg Thalmann & Co. Inc.
by written request addressed to Syndicate Department, 640 5th
Avenue, 4th Floor, New York, NY 10019 (telephone number
1-800-573-2541) or by emailing prospectus@ladenburg.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including, but not limited to, statements that are based
upon management's current expectations, assumptions, estimates,
projections and beliefs. The use of words such as, but not limited
to, "anticipate," "believe," "continue," "could," "estimate,"
"expect," "intend," "may," "might," "plan," "potential," "predict,"
"project," “preliminary,” "should," "target," "will," or "would"
and similar words or expressions are intended to identify
forward-looking statements. These statements include, but are not
limited to, statements regarding our business strategies, current
and projected revenue sources, expected future revenue, customer
loyalty and satisfaction, as well as generally the Company’s
expected future financial results. These statements involve known
and unknown risks, uncertainties and other factors that may cause
actual results or achievements to be materially different and
adverse from those expressed in or implied by the forward-looking
statements. New risks and uncertainties may emerge from time to
time, and it is not possible to predict all risks and
uncertainties. Other risks relating to the Company’s business,
including risks that could cause results to differ materially from
those projected in the forward-looking statements in this press
release, are detailed in the Company’s latest Form 10-Q/K filings
and Registration Statement, as may be amended from time to time,
filing with the SEC, especially under the heading “Risk Factors.”
The forward-looking statements in this release speak only as of
this date, and the Company disclaims any intent or obligation to
revise or update publicly any forward-looking statement except as
required by law.
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Avenova Purchasing
Information For NovaBay Avenova purchasing information:
Please call 800-890-0329 or email sales@avenova.com Avenova.com
NovaBay Contact Justin Hall
Chief Executive Officer and General Counsel 510-899-8800
jhall@novabay.com
Investor Relations Contact
LHA Investor Relations Jody Cain 310-691-7100 jcain@lhai.com
Grafico Azioni NovaBay Pharmaceuticals (AMEX:NBY)
Storico
Da Gen 2025 a Feb 2025
Grafico Azioni NovaBay Pharmaceuticals (AMEX:NBY)
Storico
Da Feb 2024 a Feb 2025
