Aytu BioPharma, Inc.
AYTU Healthcare Drug Manufacturers Specialty & Generic
Aytu BioPharma, Inc.’s revenue for fiscal 2026 (year ended June 2026) was $57.6 million, down 13.3% from fiscal 2025. In the quarter to June 2026, revenue grew 6.42%, EPS grew 100.0%, free cash flow grew 57.7% and total debt fell 21.9%, each against the same quarter a year earlier.
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Aytu BioPharma, Inc. (AYTU) Beneish M-score
Aytu BioPharma, Inc.'s Beneish M-score for fiscal 2026 is −3.48; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −3.48 | (0.81) |
| FY2025 | −2.67 | 0.39 |
| FY2024 | −3.06 | (0.34) |
| FY2023 | −2.72 | 2.74 |
| FY2022 | −5.46 | (4.89) |
| FY2021 | −0.57 | (0.72) |
| FY2020 | 0.15 | 3.17 |
| FY2019 | −3.01 | (2.05) |
| FY2018 | −0.96 | 2.30 |
| FY2017 | −3.26 | (3.26) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.84 | — | 0.78 | |
| Gross margin index | 1.08 | — | 0.57 | |
| Asset quality index | 1.14 | — | 0.46 | |
| Sales growth index | 0.87 | — | 0.77 | |
| Depreciation index | 1.00 | — | 0.11 | |
| SG&A index | 1.28 | — | −0.22 | |
| Total accruals to total assets | (0.17) | — | −0.78 | |
| Leverage index | 1.02 | — | −0.33 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −3.48 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| IXHL Incannex Healthcare Inc. compare | −5.8× |
| AYTU Aytu BioPharma, Inc. | −3.5× |
| RMTI Rockwell Medical, Inc. compare | −2.8× |
| UPC Universe Pharmaceuticals INC compare | −2.6× |
| TXMD TherapeuticsMD, Inc. compare | −2.5× |
| BFRI Biofrontera Inc. compare | 0.0× |
| SHPH Shuttle Pharmaceuticals Holdings, Inc. compare | — |
| CPHI China Pharma Holdings, Inc. compare | — |
| BGXXQ Bright Green Corporation compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI