Evofem Biosciences (EVFM) AI Stock Analysis

Evofem Biosciences

(Other OTC:EVFM)

Select Model

Rating:39Underperform

Price Target:$0.01▼(-10.00% Downside)

Action:reiterated

Date:09/24/26

Evofem Biosciences is heavily burdened by severe financial distress, reflected in a massive debt load, deeply negative equity, and a lack of profitability. While management has made commendable strides in curbing cash burn and securing a secondary manufacturing partner for global expansion, the company's precarious solvency and restrictive high-interest debt agreements pose critical risks, severely limiting its overall score.

Positive Factors

Strong gross marginA gross margin of about 71% indicates that Phexxi generates substantial value after direct product costs. If maintained, this provides a foundation for covering operating expenses, supporting commercialization investments, and improving earnings potential as revenue scale and manufacturing economics develop.

Negative Factors

Declining revenueA revenue decline of roughly 23.8% signals weakening recent commercial performance and makes it harder to absorb the company’s operating cost base. Persistent contraction could limit investment capacity, weaken negotiating leverage, and delay the benefits expected from expanded Phexxi production.

Evofem Biosciences (EVFM) vs. SPDR S&P 500 ETF (SPY)

Market Cap: $795.18K
Dividend Yield: ―
Average Volume (3M): ―
Price to Earnings (P/E): -0.1
Beta (1Y): 0.03
Revenue Growth: 4.49%
EPS Growth: -89.40%
Country: US
Employees: 29
Sector: Healthcare
Sector Strength: 51
Industry: Biotechnology

Evofem Biosciences Business Overview & Revenue Model

Company Description

Evofem Biosciences, Inc. operates as a biopharmaceutical enterprise dedicated to innovating and bringing to market treatments that address critical underserved areas in women's sexual and reproductive health. Their leading commercial offering is Phex...

Evofem Biosciences Financial Statement Overview

Summary

Assigned the minimum score due to a severely distressed balance sheet with deeply negative equity (-$82.4 million) and substantial debt. Although cash burn has been significantly reduced to near break-even levels, recent top-line contraction and ongoing operating losses present immense solvency risks.

Income Statement

40Negative

Balance Sheet

10Very Negative

Cash Flow

50Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2021
Income Statement
Total Revenue	18.05M	20.18M	19.36M	18.22M	16.84M	8.24M
Gross Profit	13.04M	15.07M	15.53M	11.71M	12.42M	4.19M
EBITDA	-4.31M	2.06M	-6.92M	-16.07M	-82.08M	-165.78M
Net Income	-15.30M	391.00K	-8.86M	52.98M	-76.70M	-205.19M
Balance Sheet
Total Assets	7.52M	20.27M	23.79M	10.55M	25.16M	42.51M
Cash, Cash Equivalents and Short-Term Investments	285.00K	578.00K	741.00K	580.00K	2.77M	7.73M
Total Debt	68.50M	54.55M	45.97M	43.37M	71.13M	115.68M
Total Liabilities	90.01M	89.71M	95.05M	77.06M	96.96M	142.09M
Stockholders Equity	-82.49M	-69.44M	-71.26M	-66.51M	-71.80M	-99.58M
Cash Flow
Free Cash Flow	-477.00K	-2.00M	-3.90M	-8.97M	-70.75M	-149.61M
Operating Cash Flow	-472.00K	-1.99M	-3.88M	-8.97M	-70.41M	-146.67M
Investing Cash Flow	52.00K	-62.00K	-569.00K	-4,000	-341.00K	-2.69M
Financing Cash Flow	14.00K	1.89M	4.62M	4.78M	61.94M	90.69M

Evofem Biosciences Risk Analysis

Evofem Biosciences disclosed 87 risk factors in its most recent earnings report. Evofem Biosciences reported the most risks in the "Finance & Corporate" category.

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added

0 New Risks

Evofem Biosciences Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

EVFM against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
DARE	44Neutral	$13.76M	-0.89	-748.08%	―	―	―
LPCN	43Neutral	$11.87M	-0.77	-64.75%	―	-62.70%	-121.27%
PTN	42Neutral	$8.90M	-0.95	-115.00%	―	―	―
EVFM	39Underperform	$795.18K	-0.05	20.76%	―	4.49%	-89.40%

* Healthcare Sector Average

Performance Comparison

EVFM and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
EVFM	Evofem Biosciences, Inc.	0.01	0.00	0.00%
PTN	Palatin Technologies, Inc.	5.00	-1.50	-23.08%
DARE	Daré Bioscience	0.70	-1.22	-63.59%
LPCN	Lipocine Inc	1.44	-1.21	-45.66%

Evofem Biosciences Corporate Events

Business Operations and StrategyProduct-Related Announcements

Evofem Expands PHEXX Manufacturing Capacity for Global Growth

Positive

Sep 23, 2026

On September 17, 2026, Evofem Biosciences entered into a manufacturing agreement with Zhaoke Ophthalmology Pharmaceutical entities in Hong Kong and Guangzhou to add them as a producer and supplier of PHEXX, its hormone-free contraceptive gel. The mov...

Business Operations and StrategyRegulatory Filings and Compliance

Evofem Biosciences Updates Investors via New Presentation

Neutral

Jul 20, 2026

Evofem Biosciences, Inc., a biotechnology company focused on women’s health, periodically shares corporate slide presentations with the investment community at industry and other conferences.The company has posted its current slide deck to the...

Business Operations and StrategyPrivate Placements and Financing

Evofem Biosciences Enters New Subordinated Debt Agreement

Negative

Jul 15, 2026

On July 8, 2026, Evofem Biosciences entered into a subordinated promissory note with HUB Cyber Security, Ltd. for $706,304, carrying 12% annual interest compounded monthly and maturing 11 months from that date. The deal closed the same day, and the n...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Sep 24, 2026

Evofem Biosciences AI Stock Analysis