Dare Bioscience, Inc. (DARE) Financial Statements
Industry: Pharmaceutical Preparations
In fiscal 2025, Dare Bioscience reported revenue of $1.0M, up 10429.4% from $9,784 the year before. Net income was -$13.4M (a -1300.7% net margin), or -$1.20 per diluted share. Gross margin was 71.3% and operating margin was -1315.5%. Operating activities generated -$9.9M of cash, leaving -$10.3M of free cash flow. At fiscal year end, Dare Bioscience held $32.5M in total assets against $29.6M in total liabilities, including $24.7M of cash and equivalents.
Open the full interactive Dare Bioscience financials → Quarterly statements, key ratios, valuation history and price charts.
Dare Bioscience Key Stats
| Share Price | $0.75 |
|---|---|
| Market Cap | $11.1M |
| 52-Week Range | $0.70 – $3.27 |
| Shares Outstanding | 14.9 million (basic, 2026 Q2) |
Dare Bioscience Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $10.0M | $2.8M | $9,784 | $1.0M |
| Gross Profit | — | — | — | — | — | $734,394 |
| Operating Income | -$27.4M | -$39.1M | -$31.4M | -$30.9M | -$23.5M | -$13.6M |
| Pre-Tax Income | -$27.4M | -$38.7M | -$30.9M | -$30.2M | -$4.1M | -$13.5M |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$27.4M | -$38.7M | -$30.9M | -$30.2M | -$4.1M | -$13.4M |
| Diluted EPS | -$10.92 | -$7.56 | -$4.44 | -$4.20 | -$0.48 | -$1.20 |
Dare Bioscience Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $2,262 | $1.0M | $152,455 | $187,546 |
| Net Income | -$3.6M | -$1.4M | -$3.0M | -$3.0M |
| Diluted EPS | -$0.28 | -$0.13 | -$0.21 | -$0.20 |
Dare Bioscience Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.7M | $51.7M | $34.7M | $10.5M | $15.7M | $24.7M |
| Current Assets | $7.0M | $55.3M | $43.0M | $17.5M | $18.4M | $27.1M |
| Total Assets | $7.6M | $55.8M | $43.8M | $21.3M | $22.1M | $32.5M |
| Current Liabilities | $7.7M | $16.1M | $31.6M | $20.5M | $21.6M | $23.7M |
| Total Liabilities | $8.7M | $17.1M | $32.7M | $26.3M | $28.1M | $29.6M |
| Shareholders' Equity | -$1.2M | $38.8M | $11.1M | -$5.0M | -$6.0M | $2.8M |
Dare Bioscience Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$25.2M | -$28.8M | -$18.1M | -$38.9M | $5.4M | -$9.9M |
| Cash From Investing | -$17,625 | -$14,524 | -$63,069 | -$629,430 | -$573,046 | -$385,278 |
| Cash From Financing | $25.1M | $75.8M | $1.3M | $15.6M | $433,830 | $19.3M |
| Free Cash Flow | -$25.2M | -$28.8M | -$18.2M | -$39.5M | $4.8M | -$10.3M |
Figures from Dare Bioscience's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Dare Bioscience financials page for every line item.
Dare Bioscience Company Profile
| Ticker | DARE |
|---|---|
| Exchange | Nasdaq |
| Industry | Pharmaceutical Preparations |
| Headquarters | San Diego, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001401914 |
Frequently Asked Questions
What was Dare Bioscience's revenue in fiscal 2025?
Dare Bioscience (DARE) reported revenue of $1.0M for fiscal 2025.
What is Dare Bioscience's annual revenue history?
Dare Bioscience's annual revenue by fiscal year: 2020: $0; 2021: $0; 2022: $10.0M; 2023: $2.8M; 2024: $9,784; 2025: $1.0M.
What was Dare Bioscience's net income in fiscal 2025?
Dare Bioscience reported net income of -$13.4M for fiscal 2025.
What was Dare Bioscience's earnings per share (EPS) in fiscal 2025?
Dare Bioscience's diluted EPS was -$1.20 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Dare Bioscience generate in fiscal 2025?
Dare Bioscience generated -$10.3M of free cash flow in fiscal 2025.
What was Dare Bioscience's revenue last quarter?
In its most recent reported quarter (2026 Q2), Dare Bioscience reported revenue of $187,546.
How many shares of Dare Bioscience are outstanding?
Dare Bioscience reported a weighted average of 14.9 million basic shares outstanding in 2026 Q2.
What is Dare Bioscience's market cap?
Based on its latest closing price, Dare Bioscience (DARE) has a market capitalization of about $11.1M.
When does Dare Bioscience's fiscal year end?
Dare Bioscience's fiscal year end, as registered with the SEC, is December 31.
Where is Dare Bioscience headquartered?
Dare Bioscience lists its business address in San Diego, California in its SEC filings.