Note 3 - Revenue

 

The Company disaggregates its net revenue from continuing operations by product portfolio, which for the years ended  June 30, 2025, and 2024, includes the ADHD Portfolio, comprised primarily of Adzenys and Cotempla; and the Pediatric Portfolio, comprised primarily of Karbinal, Poly-Vi-Flor and Tri-Vi-Flor. The Company’s disaggregation of revenue is consistent with its operating segment.

 

Net Revenue by Product Portfolio

 

Net revenue disaggregated by product portfolios for the years ended June 30, 2025, and 2024, were as follows:

 

  

Year Ended

 
  

June 30,

 
  

2025

  

2024

 
  

(in thousands)

 

ADHD Portfolio

 $57,576  $57,784 

Pediatric Portfolio

  8,769   7,280 

Other

  37   119 

Total net revenue

 $66,382  $65,183 

 

Other includes net revenue from various discontinued or deprioritized products. The Consumer Health business was divested in the first quarter of fiscal 2025 and is reported within discontinued operations (see Note 20 - Discontinued Operations).

 

Net Revenue by Geographic Location

 

The Company’s net revenue is predominately within the United States, with insignificant international sales.

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Historical Timeline

Fiscal YearFiled
2025Sep 23, 2025Showing above
2024Sep 26, 2024
2023Oct 12, 2023
2022Sep 27, 2022
2021Sep 28, 2021
2020Oct 6, 2020
2019Sep 26, 2019
2017Aug 31, 2017
2016Sep 1, 2016
2015Sep 28, 2015

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.