NASDAQ : DARE
Daré Bioscience, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 0.6815 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 13.40M
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Financial statements
Daré Bioscience, Inc. (DARE) reported revenue of 1.37M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.37M | 1.03M | 9.78K | 2.81M | 10.00M | |
| Cost of Revenue | -1.97M | 295.80K | 21.64M | 30.14M | 100.00K | |
| Gross Profit | 3.33M | 734.39K | 9.78K | -18.83M | -20.14M | -100.00K |
| Selling, General & Admin | 8.92M | 8.76M | 9.16M | 11.91M | 11.24M | 8.35M |
| Research & Development | 5.52M | 5.52M | 14.31M | 30.62M | ||
| Operating Expenses | 14.44M | 14.29M | 23.46M | 11.91M | 11.24M | 38.97M |
| Operating Income | -11.11M | -13.55M | -23.45M | -30.74M | -31.39M | -39.07M |
| Other Non Operating Income (Expenses) | 123.15K | 153.06K | 20.00M | 778.49K | 437.75K | 2.52K |
| EBT Excluding Unusual Items | -10.99M | -13.40M | -3.45M | -29.96M | -30.95M | -39.07M |
| Gain (Loss) on Sale of Assets | -600.00K | |||||
| Other Unusual Items | -400.00K | 369.89K | ||||
| Pretax Income | -10.99M | -13.40M | -4.05M | -30.16M | -30.95M | -38.70M |
| Net Income | -10.99M | -13.40M | -4.05M | -30.16M | -30.95M | -38.70M |
| Net Income to Common | -10.99M | -13.40M | -4.05M | -30.16M | -30.95M | -38.70M |
| Shares Outstanding (Basic) | 14.12M | 11.18M | 8.50M | 7.28M | 7.05M | 5.10M |
| Shares Outstanding (Diluted) | 14.12M | 11.18M | 8.50M | 7.28M | 7.05M | 5.10M |
| EPS (Basic) | -0.78 | -1.20 | -0.48 | -4.15 | -4.39 | -7.59 |
| EPS (Diluted) | -0.78 | -1.20 | -0.48 | -4.15 | -4.39 | -7.59 |
| Free Cash Flow | -11.76M | -10.27M | 4.90M | -39.49M | -18.15M | -28.78M |
| Free Cash Flow Per Share | -0.83 | -0.92 | 0.58 | -5.43 | -2.58 | -5.65 |
| Gross Margin | 243.91% | 71.29% | 100.00% | -201.42% | ||
| Operating Margin | -813.38% | -1,315.51% | -239,692.20% | -1,094.77% | -313.86% | |
| Profit Margin | -804.37% | -1,300.66% | -41,430.90% | -1,074.17% | -309.48% | |
| Free Cash Flow Margin | -860.62% | -997.01% | 50,086.97% | -1,406.26% | -181.52% | |
| EBITDA | -8.98M | -11.92M | -23.41M | -30.70M | -31.36M | -39.04M |
| D&A For EBITDA | 2.13M | 1.63M | 42.33K | 38.36K | 24.20K | 26.41K |
| EBIT | -11.11M | -13.55M | -23.45M | -30.74M | -31.39M | -39.07M |
| Revenue as Reported | 1.37M | 1.03M | 9.78K | 2.81M | 10.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 12.62M | 24.71M | 15.70M | 10.48M | 34.67M | 51.67M |
| Cash & Short-Term Investments | 12.62M | 24.71M | 15.70M | 10.48M | 34.67M | 51.67M |
| Other Receivables | 56.43K | 573.06K | 229.98K | 949.21K | 1.70M | 1.15M |
| Receivables | 56.43K | 573.06K | 229.98K | 949.21K | 1.70M | 1.15M |
| Prepaid Expenses | 2.78M | 1.39M | 2.52M | 6.12M | 6.67M | 2.48M |
| Other Current Assets | 1.24M | 387.09K | ||||
| Total Current Assets | 16.69M | 27.06M | 18.45M | 17.54M | 43.04M | 55.30M |
| Property, Plant & Equipment | 3.13M | 4.40M | 2.54M | 1.98M | 522.83K | 242.71K |
| Long-Term Deferred Charges | 143.00K | |||||
| Other Long-Term Assets | 2.55M | 1.01M | 1.11M | 1.76M | 264.80K | 125.44K |
| Total Assets | 22.37M | 32.47M | 22.10M | 21.28M | 43.83M | 55.81M |
| Accounts Payable | 762.91K | 1.20M | 1.46M | 3.39M | 2.03M | 2.10M |
| Accrued Expenses | 448.94K | 725.18K | 3.04M | 2.89M | 10.89M | 3.14M |
| Current Portion of Long-Term Debt | 12.17K | 11.71K | 4.05K | |||
| Current Portion of Leases | 743.87K | 2.10M | 548.64K | 468.73K | 398.39K | 270.55K |
| Current Unearned Revenue | 14.95M | 19.65M | 16.56M | 13.74M | 18.30M | 10.54M |
| Total Current Liabilities | 16.92M | 23.69M | 21.61M | 20.48M | 31.62M | 16.05M |
| Long-Term Debt | 5.73M | 5.39M | 4.75M | |||
| Long-Term Leases | 273.87K | 559.37K | 754.38K | 935.74K | 90.35K | |
| Long-Term Unearned Revenue | 1.00M | 1.00M | 1.00M | 1.00M | ||
| Other Long-Term Liabilities | 3.91M | |||||
| Total Liabilities | 22.93M | 29.63M | 28.11M | 26.33M | 32.71M | 17.05M |
| Common Stock | 1.52K | 1.45K | 870.00 | 833.00 | 8.48K | 8.39K |
| Additional Paid-In Capital | 194.48M | 191.95M | 169.71M | 166.55M | 152.53M | 149.03M |
| Retained Earnings | -194.67M | -188.69M | -175.29M | -171.24M | -141.07M | -110.13M |
| Comprehensive Income & Other | -374.86K | -421.62K | -428.81K | -360.90K | -351.31K | -154.97K |
| Shareholders' Equity | -560.10K | 2.84M | -6.01M | -5.05M | 11.11M | 38.75M |
| Total Liabilities & Equity | 22.37M | 32.47M | 22.10M | 21.28M | 43.83M | 55.81M |
| Total Debt | 6.76M | 8.05M | 6.05M | 1.40M | 488.74K | 270.55K |
| Net Cash (Debt) | 5.85M | 16.66M | 9.65M | 9.07M | 34.18M | 51.40M |
| Net Cash Per Share | 0.41 | 1.49 | 1.14 | 1.25 | 4.85 | 10.09 |
| Filing Date Shares Outstanding | 15.29M | 14.56M | 8.85M | 8.38M | 7.18M | 7.00M |
| Total Common Shares Outstanding | 15.17M | 14.50M | 8.70M | 8.33M | 7.07M | 7.00M |
| Working Capital | -236.46K | 3.38M | -3.17M | -2.94M | 11.41M | 39.24M |
| Book Value Per Share | -0.04 | 0.20 | -0.69 | -0.61 | 1.57 | 5.54 |
| Tangible Book Value | -560.86K | 2.84M | -6.01M | -5.05M | 11.11M | 38.75M |
| Tangible Book Value Per Share | -0.04 | 0.20 | -0.69 | -0.61 | 1.57 | 5.54 |
| Machinery | 1.86M | 242.18K | 159.49K | |||
| Construction In Progress | 1.23M | 600.00K | ||||
| Leasehold Improvements | 40.28K | 40.28K | 42.19K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -10.99M | -13.40M | -4.05M | -30.16M | -30.95M | -38.70M |
| Depreciation & Amortization | 2.13M | 1.63M | 42.33K | 38.36K | 24.20K | 26.41K |
| Loss (Gain) From Sale of Assets | 600.00K | |||||
| Stock-Based Compensation | 1.50M | 1.50M | 2.20M | 2.53M | 2.16M | 1.60M |
| Other Operating Activities | 773.26K | 593.10K | 788.52K | -837.42K | -23.06K | -421.73K |
| Change in Accounts Receivable | -8.86K | -12.05K | 753.95K | -557.84K | -685.15K | |
| Change in Accounts Payable | -540.84K | -255.15K | -1.93M | 1.36M | -75.13K | 1.08M |
| Change in Unearned Revenue | 1.63M | 2.09M | 2.82M | -4.57M | 7.76M | 8.98M |
| Change in Other Net Operating Assets | -5.79M | -2.03M | 5.00M | -7.97M | 3.57M | -647.33K |
| Operating Cash Flow | -11.29M | -9.89M | 5.47M | -38.86M | -18.09M | -28.76M |
| Capital Expenditures | -461.93K | -385.28K | -573.05K | -629.43K | -63.07K | -14.52K |
| Investing Cash Flow | -461.93K | -385.28K | -573.05K | -629.43K | -63.07K | -14.52K |
| Long-Term Debt Issued | 486.72K | 561.66K | 601.17K | |||
| Total Debt Issued | 486.72K | 486.72K | 561.66K | 601.17K | ||
| Long-Term Debt Repaid | -1.82M | -579.22K | -333.99K | |||
| Net Debt Issued (Repaid) | -2.15M | -1.33M | -17.56K | 267.19K | ||
| Issuance of Common Stock | 20.28M | 20.93M | 453.58K | 10.65M | 1.34M | 75.85M |
| Other Financing Activities | -350.19K | -321.69K | -81.50K | 4.72M | ||
| Financing Cash Flow | 19.31M | 19.28M | 354.52K | 15.64M | 1.34M | 75.85M |
| Foreign Exchange Rate Adjustments | 27.97K | 7.19K | -67.91K | -9.59K | -196.34K | -63.59K |
| Net Cash Flow | 7.58M | 9.01M | 5.19M | -23.86M | -17.00M | 47.00M |
| Free Cash Flow | -11.76M | -10.27M | 4.90M | -39.49M | -18.15M | -28.78M |
| Free Cash Flow Margin | -860.62% | -997.01% | 50,086.97% | -1,406.26% | -181.52% | |
| Free Cash Flow Per Share | -0.83 | -0.92 | 0.58 | -5.43 | -2.58 | -5.65 |
| Levered Free Cash Flow | -6.91M | -4.81M | -7.62M | -27.18M | -6.80M | -15.28M |
| Unlevered Free Cash Flow | -6.91M | -4.81M | -7.62M | -27.18M | -6.80M | -15.28M |
| Change in Working Capital | -4.71M | -210.74K | 5.89M | -10.43M | 10.70M | 8.73M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 13.76M | 27.58M | 27.15M | 30.46M | 70.41M | 153.20M |
| Enterprise Value | 7.91M | 12.67M | 17.32M | 16.76M | 30.60M | 108.02M |
| Last Close Price | 0.70 | 1.93 | 3.12 | 3.71 | 9.96 | 24.00 |
| PS Ratio | 10.07 | 26.77 | 2,774.45 | 10.85 | 7.04 | |
| PB Ratio | 9.70 | -4.51 | -6.03 | 6.34 | 3.95 | |
| P/TBV Ratio | 9.70 | 6.34 | 3.95 | |||
| P/FCF Ratio | 5.54 | |||||
| P/OCF Ratio | 4.96 | |||||
| EV/Sales Ratio | 5.79 | 12.29 | 1,769.85 | 5.97 | 3.06 | |
| EV/FCF Ratio | 3.53 | |||||
| Debt / Equity Ratio | -12.08 | 2.83 | -1.01 | -0.28 | 0.04 | 0.01 |
| Debt / FCF Ratio | 1.24 | |||||
| Net Debt / Equity Ratio | 10.45 | -5.86 | 1.60 | 1.80 | -3.08 | -1.33 |
| Net Debt / EBITDA Ratio | 0.65 | 1.40 | 0.41 | 0.29 | 1.09 | 1.32 |
| Net Debt / FCF Ratio | 0.50 | 1.62 | -1.97 | 0.23 | 1.88 | 1.79 |
| Asset Turnover | 0.08 | 0.04 | 0.00 | 0.09 | 0.20 | |
| Quick Ratio | 0.75 | 1.07 | 0.74 | 0.56 | 1.15 | 3.29 |
| Current Ratio | 0.99 | 1.14 | 0.85 | 0.86 | 1.36 | 3.44 |
| Return on Equity (ROE) | -994.69% | -124.12% | -205.82% | |||
| Return on Assets (ROA) | -39.29% | -31.04% | -67.57% | -59.02% | -39.38% | -77.08% |
| Return on Capital Employed (ROCE) | -204.00% | -154.20% | -4,805.00% | -3,834.00% | -257.20% | -98.30% |
| Earnings Yield | -111.19% | -48.59% | -14.93% | -99.03% | -43.96% | -25.26% |
| FCF Yield | -85.43% | -37.24% | 18.05% | -129.65% | -25.78% | -18.79% |
| Buyback Yield / Dilution | -62.78% | -31.55% | -16.80% | -3.23% | -38.29% | -103.23% |