NovaBay sees Q1 revenue $2.6M, up 13% from last year

NovaBay Pharmaceuticals reports preliminary net revenue for its eyecare and wound care business for the Q1 of $2.6M, a 13% increase from the Q1. This increase was achieved with lower sales and marketing expenses, and is attributed primarily to social media marketing programs aimed at consumer sales of the Company’s lead product, Avenova Antimicrobial Lid & Lash Solution. “We started 2024 with strong revenue growth from our core eyecare business while reducing marketing spend by capitalizing on our e-marketing expertise,” said Justin Hall, CEO of NovaBay. “Investing in direct-to-consumer marketing to leverage our clinical pedigree is a modern approach to the pharmaceutical industry’s traditional sales model. We are pleased that our social media programs are efficiently establishing consumer trust in the Avenova brand as eyecare professionals engage with new potential customers to share their personal experience, knowledge and recommendations.” NovaBay also announces the expansion of its Avenova Ambassador initiative, an efficient omni-channel, influencer-based social media program. This initiative involves content collaborations and affiliate partnerships with key medical influencers including optometrists and ophthalmologists, collectively known as Avenova “Docfluencers,” as well as consumer-based influencers in strategic growth categories such as beauty and health and wellness.