TherapeuticsMD Reports Revenue Growth and Improved Losses in Q2 2025

TherapeuticsMD, Inc. reported its financial results for the second quarter and first half of 2025, revealing a significant increase in revenue and a shift towards profitability compared to the same periods in 2024. The company generated $952,000 in license revenue for the second quarter of 2025, a substantial rise from $234,000 in the same quarter of the previous year. For the first half of 2025, total license revenue reached $1.345 million, up from $547,000 in the first half of 2024. This increase is primarily attributed to the company's licensing agreement with Mayne Pharma, which has begun to yield royalties from the commercialization of various products.

In terms of expenses, TherapeuticsMD reported total operating expenses of $1.647 million for the second quarter of 2025, a decrease of 45.5% from $3.023 million in the same quarter of 2024. The reduction in expenses is largely due to the absence of impairment charges that were recorded in the previous year. The company reported a loss from operations of $695,000 for the second quarter, significantly improved from a loss of $2.789 million in the same period last year. For the first half of 2025, the loss from operations was $1.976 million, down from $4.326 million in the first half of 2024.

TherapeuticsMD has undergone a strategic transformation since December 2022, transitioning from a women's healthcare company to a pharmaceutical royalty company. This shift involved the licensing of its products to Mayne Pharma, which now handles the commercialization of IMVEXXY, BIJUVA, and other products. The company has also entered into licensing agreements with partners such as Knight Therapeutics and Theramex for the commercialization of its products outside the U.S. This strategic pivot has resulted in a streamlined operational focus and a reduction in employee headcount, with only one full-time employee remaining as of June 30, 2025.

The company’s balance sheet as of June 30, 2025, shows total assets of $38.504 million, slightly down from $38.822 million at the end of 2024. Cash and cash equivalents increased to $6.069 million from $5.059 million, reflecting a net increase in cash of $1.010 million during the first half of 2025. However, the company has expressed concerns regarding its liquidity and going concern status, indicating that it may need to raise additional capital to fund operations until it becomes cash flow positive. The company is exploring various financing options, including equity and debt financing, to address its capital needs.

Looking ahead, TherapeuticsMD remains focused on optimizing its royalty revenue streams and managing its operational costs. The company is closely monitoring its agreements with Mayne Pharma and other partners to ensure that it can capitalize on potential sales growth. However, uncertainties related to market conditions, ongoing litigation with Mayne Pharma, and the need for additional financing could impact its future performance. The company has indicated that it will continue to assess its financial position and operational strategies in light of these challenges.