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Dare Bioscience, Inc.

DARE Healthcare Biotechnology

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%
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 (below 1: weak)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 0.00
Fwd P/E (1.99) (negative: loss-making)
P/S ratio 7.85
P/B ratio 0.00
Past 5Y EPS Growth —
This Y EPS Growth 34.72% (at or above 15%: strong)
Next Y EPS Growth 47.02% (at or above 15%: strong)
Next Y revenue growth 163.83% (at or above 10%: strong)
Next 5Y EPS Growth 66.53% (at or above 15%: strong)

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.7×, against a ten-year median of 5.1×; over the ten years it ranged from −1,390× in 2025 to 2,054× in 2025.

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.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Dare Bioscience, Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier

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.

Dare Bioscience, Inc. (DARE) Latest News

12 May

Impact 5 ·
stockrow.com/DARE · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com