NovaBay reports Q1 EPS (15c), consensus (15c)

Reports Q1 revenue $2.63M, consensus $3.28M. “Net product sales growth of 13% versus the prior year was driven by higher sales of Avenova-branded products through online channels and by sales of branded wound care products,” said Justin Hall, CEO of NovaBay. “During the quarter, ordered sales for Avenova products on Amazon.com, our most important sales channel, hit new all-time records in March and again in April. We achieved these records by further optimizing our highly efficient digital marketing programs while reducing our sales and marketing spend, which declined by 15% versus the prior year.”