TherapeuticsMD Reports Net Income of $152,000 for Q3 2025, Significant Year-Over-Year Improvement

TherapeuticsMD, Inc. reported its financial results for the third quarter and the first nine months of 2025, revealing a net income of $152,000 for the quarter, a significant improvement from a net loss of $609,000 in the same period last year. For the nine months ended September 30, 2025, the company recorded a net income of $50,000, compared to a net loss of $2.43 million for the same period in 2024. The increase in revenue was primarily driven by a rise in license revenue, which reached $784,000 for the third quarter and $2.13 million for the first nine months, up from $547,000 and $1.09 million, respectively, in the prior year.

The company’s operating expenses for the third quarter of 2025 totaled $1.65 million, a slight decrease from $1.68 million in the same quarter of 2024. General and administrative expenses decreased to $1.52 million from $1.59 million year-over-year, reflecting ongoing cost management efforts. Notably, the company did not incur any impairment of long-lived assets in the current quarter, contrasting with a $1.26 million impairment recorded in the previous year. This reduction in expenses contributed to a smaller loss from operations, which was $862,000 in Q3 2025 compared to $1.13 million in Q3 2024.

TherapeuticsMD has undergone a strategic transformation since December 2022, shifting from a women’s healthcare company to a pharmaceutical royalty company. This transition included the licensing of its products to Mayne Pharma, which has become the primary source of revenue through royalties. The company has also entered into licensing agreements with other partners, including Knight Therapeutics and Theramex, to commercialize its products outside the U.S. As of September 30, 2025, the company reported total assets of $38.67 million, slightly down from $38.82 million at the end of 2024, while total liabilities decreased to $11.23 million from $11.45 million.

Looking ahead, TherapeuticsMD indicated that it may need to raise additional capital to support its operations until it becomes cash flow positive. The company is exploring various financing options, including equity and debt financing. However, it acknowledged that market conditions could limit its ability to raise funds, which raises concerns about its liquidity and ability to continue operations in the next twelve months. The company’s cash and cash equivalents stood at $7.12 million as of September 30, 2025, an increase from $5.06 million at the end of 2024, reflecting a net cash increase of $2.06 million during the first nine months of 2025.