Dare Bioscience, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $1.0M | $9,784 | $2.8M | $10.0M | $0 |
| Cost of revenue | $295,799 | $0 | — | — | — |
| Selling, general & administrative | $8.8M | $9.2M | — | — | — |
| Research and development | $5.5M | $14.3M | $21.5M | $30.0M | $30.6M |
| Operating expenses | $14.3M | $23.5M | $33.7M | $41.4M | $39.1M |
| Operating income | -$13.6M | -$23.5M | -$30.9M | -$31.4M | -$39.1M |
| Pretax income | -$13.5M | -$4.1M | -$30.2M | -$30.9M | -$38.7M |
| Income tax expense | $0 | $0 | $0 | $0 | $0 |
| Net income | -$13.4M | -$4.1M | -$30.2M | -$30.9M | -$38.7M |
| Balance Sheet | |||||
| Cash and equivalents | $24.7M | $15.7M | $10.5M | $34.7M | $51.7M |
| Current assets | $27.1M | $18.4M | $17.5M | $43.0M | $55.3M |
| Total assets | $32.5M | $22.1M | $21.3M | $43.8M | $55.8M |
| Current liabilities | $23.7M | $21.6M | $20.5M | $31.6M | $16.1M |
| Total liabilities | $29.6M | $28.1M | $26.3M | $32.7M | $17.1M |
| Stockholders' equity | $2.8M | -$6.0M | -$5.0M | $11.1M | $38.8M |
| Cash Flow Statement | |||||
| Cash from operations | -$9.9M | $5.5M | -$38.9M | -$18.1M | -$28.8M |
| Depreciation and amortization | $1.6M | $42,325 | $38,363 | $24,202 | $26,413 |
| Stock-based compensation | $1.5M | $2.2M | $2.5M | $2.2M | $1.6M |
| Capital expenditure | $385,278 | $573,046 | $629,430 | $63,069 | $14,524 |
| Free cash flow | -$10.3M | $4.9M | -$39.5M | -$18.2M | -$28.8M |
Shares outstanding 15.0M · Free float 25.1%
Annual filing data through FY ended December 31, 2025; float as of July 13, 2026.