<span item_type="fundamental" item_id="6a3b7bc4154e54b088f2150425717bd5" counter_id="ST/US/DARE" env="prod"></span><span item_type="announcement" item_id="582433848872606337" env="prod"></span><p>Revenue: As of FY2025 Q3, the actual value is USD 2.262 K, missing the estimate of USD 9.75 K.</p><p>EPS: As of FY2025 Q3, the actual value is USD -0.28.</p><p>EBIT: As of FY2025 Q3, the actual value is USD -3.778 M.</p><p></p><h3>Segment Revenue</h3><ul><li><strong>Royalty Revenue</strong>: $2,262 for the three months ended September 30, 2025, compared to $41,691 for the same period in 2024. For the nine months ended September 30, 2025, royalty revenue was $6,517, compared to $73,431 in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1401914/000140191425000050/dare-20250930.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li><strong>Net Loss</strong>: - $3,562,766 for the three months ended September 30, 2025, compared to - $4,702,501 for the same period in 2024. For the nine months ended September 30, 2025, net loss was - $11,957,556, compared to a net income of $1,452,799 in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1401914/000140191425000050/dare-20250930.htm"></span></li><li><strong>Loss from Operations</strong>: - $3,672,148 for the three months ended September 30, 2025, compared to - $4,681,349 for the same period in 2024. For the nine months ended September 30, 2025, loss from operations was - $12,081,066, compared to - $18,063,288 in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1401914/000140191425000050/dare-20250930.htm"></span></li></ul><h3>Cash Flow</h3><ul><li><strong>Net Cash Used in Operating Activities</strong>: - $11,330,134 for the nine months ended September 30, 2025, compared to $167,637 provided by operating activities in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1401914/000140191425000050/dare-20250930.htm"></span></li><li><strong>Net Cash Used in Investing Activities</strong>: - $178,637 for the nine months ended September 30, 2025, compared to - $10,197 in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1401914/000140191425000050/dare-20250930.htm"></span></li><li><strong>Net Cash Provided by Financing Activities</strong>: $18,853,015 for the nine months ended September 30, 2025, compared to $565,842 in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1401914/000140191425000050/dare-20250930.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li><strong>Stock-Based Compensation Expense</strong>: $1,139,432 for the nine months ended September 30, 2025, compared to $1,713,996 in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1401914/000140191425000050/dare-20250930.htm"></span></li></ul><h3>Future Outlook and Strategy</h3><ul><li><strong>Core Business Focus</strong>: Daré Bioscience, Inc. plans to initiate commercialization of DARE to PLAY Sildenafil Cream in the fourth quarter of 2025 through a Section 503B-registered outsourcing facility. The company also plans to expand its commercial portfolio with the introduction of the DARE to RESTORE product line in the first quarter of 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1401914/000140191425000050/dare-20250930.htm"></span></li><li><strong>Non-Core Business</strong>: The company is pursuing a dual-path approach to bring new products to market, including traditional FDA approval and earlier market access via Section 503B outsourcing facilities. This strategy aims to respond to clinician and patient demand for timely access while continuing to generate data necessary for FDA approval.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1401914/000140191425000050/dare-20250930.htm"></span></li></ul>

Dare Bioscience | 10-Q: FY2025 Q3 Revenue Misses Estimate at USD 2.262 K