Evofem Biosciences (EVFM) AI Stock Analysis

• Market Cap: $1.08M
• Dividend Yield: N/A
• Average Volume (3M): 777.57K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.05
• Revenue Growth: -2.51%
• EPS Growth: -100.40%
• Country: US
• Employees: 32
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.01
• Shares Outstanding: 118,656,360
• 10 Day Avg. Volume: 707,701
• 30 Day Avg. Volume: 777,567
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 48.60
• Enterprise Value/Revenue: 3.16
• Enterprise Value/Gross Profit: 4.01
• Enterprise Value/Ebitda: -69.88
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 0

• Rating: 41 Neutral
• Price Target: $0.00 ▼(-100.00% Downside)

Evofem Biosciences faces significant financial challenges, with ongoing losses and high leverage being the most critical concerns. While there is some short-term technical momentum, the overbought condition suggests caution. The negative P/E ratio and lack of dividend yield further weigh on the stock's attractiveness. Overall, the financial instability and valuation concerns are the most significant factors impacting the score.

Evofem Biosciences Business Overview & Revenue Model

Company Description

Evofem Biosciences, Inc., a biopharmaceutical company, develops and commercializes various products to address unmet needs in women's sexual and reproductive health. Its commercial product is Phexxi, a vaginal gel for the prevention of pregnancy. The company is also involved in the development of EVO100, an antimicrobial vaginal gel for the prevention of urogenital transmission of Chlamydia trachomatis infection and Neisseria gonorrhoeae infection in women. Evofem Biosciences, Inc. is headquartered in San Diego, California.

How the Company Makes Money

Evofem Biosciences generates revenue primarily through the sales of its flagship product, Phexxi, which is marketed to healthcare providers and patients as a non-hormonal contraceptive option. The company also explores additional revenue streams through potential collaborations and partnerships with other pharmaceutical companies, as well as by seeking out grants or funding for research and development initiatives. Key partnerships that could enhance their market presence or distribution capabilities may also contribute to their earnings, although specific details on such partnerships or collaborations would require further data.

Evofem Biosciences Financial Statement Overview

Summary

Evofem Biosciences is facing significant financial challenges, including consistent negative net income, high leverage, and negative equity, which raise concerns about financial stability and solvency. Despite some revenue growth, profitability and cash flow management remain major issues.

Income Statement

Evofem Biosciences has shown some revenue growth over the years, with a notable increase from $446,000 in 2020 to $19,363,000 in 2024. However, the company has consistently reported negative net income, indicating ongoing profitability challenges. The gross profit margin has improved, but the net profit margin remains negative, reflecting significant operational losses. EBIT and EBITDA margins are also negative, highlighting continued operational inefficiencies.

Balance Sheet

The balance sheet of Evofem Biosciences reveals a highly leveraged position, with a negative stockholders' equity of -$71,257,000 in 2024. The debt-to-equity ratio is not calculable due to negative equity, but the substantial total debt of $45,967,000 indicates high financial risk. The equity ratio is negative, underscoring the company's reliance on debt financing and potential solvency issues.

Cash Flow

Evofem Biosciences has consistently reported negative operating and free cash flows, indicating cash burn and reliance on external financing. The operating cash flow to net income ratio is not meaningful due to negative figures. While there has been some improvement in free cash flow from 2023 to 2024, the overall cash flow situation remains challenging, with negative free cash flow of -$3,899,000 in 2024.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	16.61M	19.36M	18.22M	16.84M	8.24M	446.00K
Gross Profit	13.09M	15.53M	11.71M	12.42M	4.19M	-1.20M
EBITDA	-751.00K	-6.92M	-16.07M	-82.08M	-165.78M	-141.12M
Net Income	-3.10M	-8.86M	52.98M	-76.70M	-205.19M	-142.31M
Balance Sheet
Total Assets	12.88M	23.79M	10.55M	25.16M	42.51M	109.97M
Cash, Cash Equivalents and Short-Term Investments	221.00K	741.00K	580.00K	2.77M	7.73M	71.45M
Total Debt	45.73M	45.97M	43.37M	71.13M	115.68M	85.94M
Total Liabilities	82.46M	95.05M	77.06M	96.96M	142.09M	108.62M
Stockholders Equity	-69.59M	-71.26M	-66.51M	-71.80M	-99.58M	1.35M
Cash Flow
Free Cash Flow	-3.45M	-3.90M	-8.97M	-70.75M	-149.61M	-108.14M
Operating Cash Flow	-3.45M	-3.88M	-8.97M	-70.41M	-146.67M	-105.89M
Investing Cash Flow	-612.00K	-569.00K	-4.00K	-341.00K	-2.69M	6.23M
Financing Cash Flow	4.48M	4.62M	4.78M	61.94M	90.69M	155.29M

Evofem Biosciences Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
DARE	46 Neutral	$27.90M	-4.73	―	―	―	―
EVFM	41 Neutral	$1.08M	-0.15	12.00%	―	-2.51%	-100.40%
XTLB	39 Underperform	$11.51M	―	―	―	―	65.38%
QLGN	31 Underperform	$8.91M	-0.41	―	―	―	89.24%
SLRX	30 Underperform	$3.86M	-0.08	-660.37%	―	―	74.27%

Evofem Biosciences Corporate Events

Evofem Biosciences Updates Merger Agreement with Aditxt

Evofem Biosciences, in collaboration with Aditxt, Inc., has entered into a Sixth Amendment to their Amended and Restated Merger Agreement, which was initially disclosed in July 2024. This amendment, dated August 26, 2025, includes updates to definitions related to preferred stock, shareholder approval, and exchange agreements, among other changes. Additionally, on August 22, 2025, Evofem entered into Exchange Agreements with certain investors to convert senior secured convertible notes into Series G-1 Convertible Preferred Stock, further detailing the terms and conversion rights of these shares. These developments are part of Evofem’s ongoing strategic efforts to enhance its financial structure and align with Aditxt’s corporate objectives.

Evofem Biosciences Enters Securities Purchase Agreement

On June 26, 2025, Evofem Biosciences, Inc. entered into a securities purchase agreement with Aditxt, Inc. for the sale of senior subordinated convertible notes and warrants, raising approximately $925,000 after costs. The agreement includes various conditions and limitations, such as a beneficial ownership limitation and covenants restricting certain financial activities, which could impact the company’s financial operations and stakeholder interests.