Saturday 17 October 2026 Export DARE’s income statement to Excel — free account

Dare Bioscience, Inc.

Dare Bioscience, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.0 million, up 10,412.2% from fiscal 2024. In the quarter to June 2026, revenue grew 984.4%, EPS grew 55.6% and free cash flow fell 30.2%, each against the same quarter a year earlier.

0.72 0.02 −2.70%

Follow DARE

Alert me

Market cap: $14.6M
P/E: 0.0×
Fwd P/E: −2.0×
Dividend yield: —
F-score: 4/9
Altman Z: −8.92
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 14.56

Revenue 1.37

Net Income (10.99)

Free Cash Flow (11.60)

Net Debt (12.62)

Current Ratio 0.99

Debt/Equity 0.00

P/E ratio 0.00

Fwd P/E (1.99)

P/S ratio 7.85

P/B ratio 0.00

Past 5Y EPS Growth —

This Y EPS Growth 34.72%

Next Y EPS Growth 47.02%

Next Y revenue growth 163.83%

Next 5Y EPS Growth 66.53%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	10	16	25	13
Receivables	1	0	—	0
Inventory	—	—	—	—
Other	—	—	—	1
	18	18	27	17

	2023	2024	2025	Q'26
Payables	3	1	1	1
ST’ Debt	—	—	—	—
Other	14	17	20	15
	20	22	24	17

Compound Annual Growth %

	10y	5y	3y
Sales	—	66.71%	(53.12%)
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	(24.74%)	0.00%	(36.52%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	0	0	—	—	—
’25	0	0	0	1	1
’24	0	0	0	0	0
’23	—	—	1	2	3
’22	—	10	—	—	10

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(6)	(7)	—	—	—
’25	(5)	(5)	0	1	(10)
’24	(7)	13	(6)	5	5
’23	(16)	(7)	(8)	(8)	(39)
’22	(12)	(8)	9	(6)	(18)
’21	(8)	(12)	1	(10)	(29)
’20	(7)	(4)	(5)	(9)	(25)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(6)	(7)	—	—	—
’25	(6)	(5)	(1)	1	(10)
’24	(7)	13	(6)	5	5
’23	(16)	(7)	(8)	(9)	(39)
’22	(12)	(8)	9	(6)	(18)
’21	(8)	(12)	1	(10)	(29)
’20	(7)	(4)	(5)	(9)	(25)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.20)	(0.20)	—	—	—
’25	(0.50)	(0.45)	(0.28)	(0.02)	(1.20)
’24	(0.84)	1.52	(0.55)	(0.64)	(0.48)
’23	(1.08)	(1.20)	(1.08)	(0.72)	(4.20)
’22	(1.20)	0.06	(0.96)	(2.28)	(4.44)
’21	(1.92)	(2.16)	(2.16)	(2.16)	(7.56)
’20	(2.16)	(3.24)	(2.88)	(2.64)	(10.92)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	75.60	25.32	7.20	8.04	9.00	14.40	9.84	3.24	2.67	1.61	Analyst estimates 2026–2028 Powerpack
	High	519.60	429.60	43.08	39.00	26.64	46.20	25.20	16.80	7.56	9.19
People
People	Employees	19	5	14	18	23	28	30	26	23	24
	Revenue/emp, $m	0.04	0.00	0.00	0.00	0.00	0.00	0.33	0.11	0.00	0.04
Income, $m
Income, $m	Revenue	1	—	—	—	—	—	10	3	0	1
	Gross margin, %	0.00	—	0.00	0.00	0.00	0.00	100.00	100.00	100.00	71.29
	EBT	(1)	(12)	(17)	(14)	(27)	(39)	(31)	(30)	(4)	(13)
	EBT margin, %	(87.82)	0.00	0.00	0.00	0.00	0.00	(309.48)	(1,074.16)	(41,363.27)	(1,300.65)
	Net income	(1)	(12)	(17)	(14)	(27)	(39)	(31)	(30)	(4)	(13)
	Depreciation	0	7	5	0	0	0	0	0	0	2
Per share, $
Per share, $	Revenue	11.01	0.00	0.00	0.00	0.00	0.00	1.42	0.39	0.00	0.09
	Earnings	(9.67)	(42.74)	(18.85)	(11.64)	(10.92)	(7.56)	(4.44)	(4.20)	(0.48)	(1.20)
	Cash flow	(5.35)	(9.44)	(11.49)	(10.26)	(10.07)	(5.65)	(2.57)	(5.34)	0.64	(0.88)
	Capex	0.00	0.00	(0.01)	0.00	(0.01)	0.00	(0.01)	(0.09)	(0.07)	(0.03)
	Free cash flow	(5.35)	(9.44)	(11.50)	(10.26)	(10.07)	(5.65)	(2.58)	(5.43)	0.58	(0.92)
	Book value	(10.21)	49.38	7.52	0.34	(0.46)	7.61	1.58	(0.69)	(0.71)	0.25
	Shares, m	0	0	1	1	3	5	7	7	8	11
Valuation, ×
Valuation, ×	P/E	0.00	—	—	—	—	—	0.00	0.00	0.00	0.00
	P/S	0.00	—	—	—	—	—	0.00	2.24	2,705.33	20.94
	P/B	0.00	—	—	—	—	—	6.61	0.00	0.00	7.59
	EV/Sales	0.00	—	—	—	—	—	0.00	2.06	1,941.77	5.07
	EV/FCF	(21.31)	—	—	—	—	—	(2.59)	(0.67)	3.88	(0.51)
Cash, $m
Cash, $m	Operating cash flow	0	(3)	(10)	(13)	(25)	(29)	(18)	(39)	5	(10)
	Capex	(1)	—	0	—	0	0	0	(1)	(1)	0
	Free cash flow	0	(3)	(10)	(13)	(25)	(29)	(18)	(39)	5	(10)
Balance, $m
Balance, $m	Working capital	(1)	7	6	1	(1)	39	11	(3)	(3)	3
	Total debt	13	—	—	1	1	0	0	—	—	—
	Net debt	0	(8)	(7)	(5)	(5)	(52)	(35)	(10)	(16)	(25)
	Shareholders’ equity	(1)	13	7	0	(1)	39	11	(5)	(6)	3
Returns, %
Returns, %	ROA	(1.72)	(160.83)	(151.57)	(197.16)	(365.59)	(122.15)	(62.12)	(92.65)	(18.69)	(49.10)
	ROIC	0.00	(121.89)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	ROE	(2.80)	(182.85)	(167.23)	(420.05)	7,710.68	(205.82)	(124.12)	(994.69)	73.30	845.52

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
GTBP GT Biopharma, Inc.	$15.2M	— (loss-making)	—	−100.00% (below 0%: shrinking)	n/m	−41.34% (below 0%: shrinking)	0.00%	0.00%	Compare
DARE Dare Bioscience, Inc.	$14.6M	— (loss-making)	— (loss-making)	+984.43% (above 0%: growing)	n/m	−30.23% (below 0%: shrinking)	(70.56%)	(1,582.93%)
ADAPY Adaptimmune Therapeutics PLC	$14.6M	— (loss-making)	— (loss-making)	−89.33% (below 0%: shrinking)	n/m	−174.72% (below 0%: shrinking)	81.71%	(221.45%)	Compare
CNSY Cerenome, Inc.	$14.3M	— (loss-making)	— (loss-making)	−70.43% (below 0%: shrinking)	n/m	−31.46% (below 0%: shrinking)	100.00%	(2,203.65%)	Compare
TVRD Tvardi Therapeutics, Inc.	$14.3M	— (loss-making)	— (loss-making)	+20.33% (above 0%: growing)	n/m	−57.26% (below 0%: shrinking)	100.00%	0.00%	Compare
CLVSQ Clovis Oncology, Inc.	$14.2M	— (loss-making)	— (loss-making)	−19.13% (below 0%: shrinking)	n/m	+11.83% (above 0%: growing)	71.93%	(144.26%)	Compare
BCDA BioCardia, Inc.	$14.2M	— (loss-making)	— (loss-making)	−93.02% (below 0%: shrinking)	n/m	−5.15% (below 0%: shrinking)	100.00%	0.00%	Compare
RVLP RVL Pharmaceuticals PLC	$14.1M	— (loss-making)	— (loss-making)	−2.25% (below 0%: shrinking)	n/m	−734.24% (below 0%: shrinking)	76.43%	(266.66%)	Compare
LPCN Lipocine Inc.	$13.9M	— (loss-making)	— (loss-making)	−69.48% (below 0%: shrinking)	n/m	−60.56% (below 0%: shrinking)	100.00%	(1,495.11%)	Compare
Median of peers	$14.3M	—	—	−69.95%	—	−49.30%	90.86%	(182.86%)

All 614 Biotechnology stocks →

Dare Bioscience, Inc. (DARE) key facts

Strength: Dare Bioscience, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.0 million, up 10,412.2% from fiscal 2024.
Dare Bioscience, Inc. (DARE) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, DARE traded at $0.72, a market capitalization of $14.6 million.
Return on equity was 845.5% and debt-to-equity 0.00.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is −8.92 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.