Daré Bioscience, Inc. develops therapies in the areas of contraception, pelvic pain, fertility, infectious disease, menopause, and sexual and vaginal health in ...
Daré Bioscience, Inc. (NASDAQ: DARE) is a purpose-driven health biotech company headquartered in San Diego, California, founded in 2015 by Sabrina Martucci Johnson, who serves as CEO. The company is dedicated to closing the gap in women's health by advancing promising science into real-world solutions. Its portfolio includes XACIATO, a ...Daré Bioscience, Inc. (NASDAQ: DARE) is a purpose-driven health biotech company headquartered in San Diego, California, founded in 2015 by Sabrina Martucci Johnson, who serves as CEO. The company is dedicated to closing the gap in women's health by advancing promising science into real-world solutions. Its portfolio includes XACIATO, a lincosamide antibacterial gel for bacterial vaginosis, which is FDA-approved, and a diverse pipeline addressing various unmet needs: Ovaprene, a hormone-free monthly intravaginal contraceptive; Sildenafil Cream for female sexual arousal disorder; DARE-HRT1 for menopausal vasomotor symptoms; DARE-VVA1 for dyspareunia; DARE-HPV for HPV infection; DARE-PDM1 for primary dysmenorrhea; DARE-204 and DARE-214 as injectable contraceptives; DARE-FRT1 for IVF luteal support; and DARE-PTB1/PTB2 for preterm birth prevention. The company also explores non-hormonal contraception via CatSper targeting and live biotherapeutics. Financially, Daré has a market cap of ~$21.6M, with negative profitability (net margin -1038.8%) due to heavy R&D investment (R&D-to-revenue 291.9%). Despite losses, it maintains a cash position (cash per share $1.28) and focuses on leveraging partnerships, as seen with Rosy Wellness. With only 24 employees, it operates leanly, with key leadership including founder/CEO Sabrina Johnson and a team dedicated to innovative product development, aiming to improve women's lives globally.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$1.0M
+10429.4%
+23.0%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-13.4M
-230.6%
+0.6%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
-137.5%
+99.9%
+83.3%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-1315.5%
+99.5%
+19.5%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-1300.7%
+96.9%
+19.2%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-10.3M
-313.0%
-24.2%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-997.0%
-102.0%
-0.9%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
93.4%
+531.1%
-649.4%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.14x
+33.8%
-3.9%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Hello. And welcome to the Dare Bioscience Second Quarter 26 Corporate Update Conference Call and Webcast. As a brief reminder, all participants are in a listen-only mode. Following the presentation, there will be a question-and-answer session. Note that this webcast is being recorded at the company's request and a replay will be made available on the company's website following the end of the event. Joining us today from Dare Bioscience are Sabrina Martucci Johnson, president and chief executive officer, and MarDee J. Haring-Layton, chief accounting officer. Ms. Haring-Layton, please proceed.
MarDee J. Haring-Layton: Good afternoon, and welcome. Today, we will review our financial results, provide updates on our commercial products and clinical pipeline and discuss the continued execution of our expanded business. That strategy includes a dual path approach, commercializing proprietary formulations through 503D compounding while pursuing FDA approval and advancing select solutions as branded consumer health products that do not require a prescription. In all cases, our goal is to bring innovative women's health solutions to market as efficiently and quickly as possible. Would like to remind you that today's discussion will include forward looking statements within the meaning of federal securities laws, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 2000. Any statements made during this call that are not actual statements of historical facts should be considered forward looking statements. Actual results or events could differ materially from those anticipated or implied by these statements due to known and unknown risks and uncertainties. You should not place undue reliance on forward looking statements. Forward looking statements are qualified in their entirety by the cautionary statements in the company's SEC filings, including our quarterly report on Form 10 Q for the quarter ended 06/30/2026, which was filed today, and our annual report on Form 10-K for the year ended 12/31/2025. Please note that the content of this call includes time sensitive information that is current only as of today, 08/13/2026. Dare undertakes no obligation to update any forward looking statements to reflect new information or developments after this call, except as required by law. I would also like to point out that when we use the term 503B compounding during this discussion, we are referring to compounding drug products by outsourcing facilities registered under section 503B of the federal Food, Drug, and Cosmetic Act using both drug substances on the FDA's interim category 1 list. I would now like to turn the call over to Sabrina.
Sabrina Martucci Johnson: Thank you, MarDee, and good afternoon, everyone, and thank you for joining us. For more than 10 years, Dare has been building towards this moment. We built Dare on a simple conviction, Women's health is an investment grade category. Not a …