Daré Bioscience, Inc. (DARE) Income Statement
DARE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsDARE revenue and net income
Where DARE's revenue goes
2025Each bar shows an amount and its share of revenue. DARE kept −1,300.7% of revenue as net income.
DARE profit margins
DARE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +10,429.4% | −53.1% | — | — |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
DARE quarterly EPS vs estimates
Daré Bioscience beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 12, 2026 (estimate $-0.09).
DARE income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.0M | $9,784 | $2.8M | $10.0M | $10.0M | $0 | $0 | $0 | $0 | $766,000 |
| Cost of revenue | $2.4M | $14.3M | $21.6M | $47,617 | $100,000 | $83,333 | $11,137 | $625,000 | $0 | $400,000 |
| Gross profit | −$1.4M | −$14.3M | −$18.8M | $10.0M | −$100,000 | −$83,333 | −$11,137 | −$2,440 | $0 | $366,000 |
| Research & development | $5.52B | $14.2M | $21.5M | $30.0M | $30.6M | $20.8M | $8.5M | $6.4M | $984,749 | $27.6M |
| Sales, general & admin | $8.8M | $8.4M | $11.3M | $11.8M | $8.4M | $6.5M | $6.0M | $5.3M | $2.7M | $10.4M |
| Total operating expenses | $12.1M | $9.2M | $12.1M | $41.4M | $39.0M | $27.3M | $14.3M | $11.7M | $3.7M | $37.9M |
| Operating income | −$13.6M | −$23.5M | −$30.9M | −$31.4M | −$39.1M | −$27.4M | −$14.3M | −$16.9M | −$11.2M | −$37.2M |
| Interest income | — | — | — | — | — | — | — | — | $322,630 | $86,000 |
| Interest expense | $822,709 | — | — | $437.8M | $372,407 | $0 | $0 | $0 | $322,629 | $2.2M |
| Income before taxes | −$13.4M | −$4.1M | −$30.2M | −$30.9M | −$38.7M | −$27.4M | −$14.3M | −$16.7M | −$11.5M | −$39.3M |
| Income taxes | — | −$4.05B | −$3 | −$437.8M | −$370,000 | −$163,000 | −$161,000 | $10.2M | −$7.2M | $86,000 |
| Net income | −$13.4M | −$4.1M | −$30.2M | $406.8M | −$38.7M | −$27.4M | −$14.3M | −$16.7M | −$11.5M | −$39.3M |
| EBITDA | −$10.4M | −$4.0M | −$30.7M | −$31.4M | −$38.7M | −$27.4M | −$14.3M | −$11.7M | −$8.5M | −$36.8M |
| EPS (diluted) | −$1.33 | −$2.93 | −$3.42 | −$1.19 | −$8.55 | −$8.56 | −$9.33 | −$7.73 | −$4.71 | −$14.10 |
| Gross margin | −137.5% | −146,110.2% | −670.6% | 100.0% | −1.0% | — | — | — | — | 47.8% |
| Operating margin | −1,315.5% | −239,692.2% | −1,101.9% | −313.9% | −390.7% | — | — | — | — | −4,850.4% |
| Net margin | −1,300.7% | −41,430.9% | −1,074.2% | 4,068.0% | −387.0% | — | — | — | — | −5,131.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $187,546 | $152,455 | $1.0M | $2,262 | $0 | $25,427 | $0 | $41,691 | $22,438 | $9,302 | $1.8M | $1.0M |
| Cost of revenue | $319,889 | $796,968 | $295,799 | $1.2M | $0 | $2.3M | $14.2M | $25,000 | $25,000 | $3.4M | $21.6M | $25,000 |
| Gross profit | −$132,343 | −$644,513 | $727,877 | −$1.2M | −$21,172 | −$2.3M | −$14.3M | $16,691 | $22,438 | −$3.4M | −$19.8M | $975,000 |
| Research & development | $241,966 | $152,455 | $622,041 | $1.2M | $1.4M | $2.3M | $3.3M | $2.7M | $4.9M | $3.4M | $3.8M | $6.7M |
| Sales, general & admin | $2.6M | $2.2M | $1.6M | $2.3M | $2.4M | $1.9M | $1.8M | $2.0M | $2.5M | $2.5M | $2.8M | $2.7M |
| Total operating expenses | $2.8M | $2.4M | $2.2M | $2.5M | $3.8M | $2.3M | −$8.9M | $4.7M | $7.4M | $2.7M | −$14.6M | $9.4M |
| Operating income | −$3.0M | −$3.0M | −$1.5M | −$3.7M | −$3.8M | −$4.6M | −$5.4M | −$4.7M | −$7.4M | −$6.0M | −$5.2M | −$8.4M |
| Interest expense | — | $199,394 | $206,955 | $213,171 | $268,533 | — | — | — | — | $7,674 | — | — |
| Income before taxes | −$3.0M | −$3.0M | −$1.4M | −$3.6M | −$4.0M | −$4.4M | −$5.5M | −$4.7M | $12.9M | −$6.8M | −$5.1M | −$8.3M |
| Income taxes | — | — | — | — | — | — | −$2 | — | $3 | $2 | −$33,832 | −$9,260 |
| Net income | −$3.0M | −$3.0M | −$1.4M | −$3.6M | −$4.0M | −$4.4M | −$5.5M | −$4.7M | $12.9M | −$6.8M | −$5.1M | −$8.3M |
| EBITDA | −$2.4M | −$2.2M | −$907,323 | −$3.1M | −$3.3M | −$4.2M | −$5.5M | −$4.7M | $12.9M | −$6.7M | −$5.0M | −$8.3M |
| EPS (diluted) | −$0.20 | −$0.20 | −$0.10 | −$0.28 | −$0.45 | −$0.50 | −$0.65 | −$0.55 | −$0.89 | −$0.84 | −$0.06 | −$1.08 |
| Gross margin | −70.6% | −422.8% | 71.1% | −51,852.6% | — | −8,935.2% | — | 40.0% | 100.0% | −36,034.1% | −1,092.7% | 97.5% |
| Operating margin | −1,582.5% | −1,967.1% | −143.7% | −162,340.8% | — | −18,016.7% | — | −11,228.7% | −32,799.1% | −64,743.9% | −286.1% | −839.6% |
| Net margin | −1,590.4% | −1,967.7% | −140.8% | −157,505.1% | — | −17,219.1% | — | −11,279.4% | 57,539.2% | −72,622.6% | −279.8% | −829.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in DARE's financial statements (latest annual report filed March 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
DARE financial results
In fiscal year 2025 (ended December 31, 2025), Daré Bioscience reported revenue of $1.0 million, up 10,429.4% from the year before. It had a net loss of $13.4 million, a net profit margin of −1,300.7%. Diluted earnings per share came to −$1.33.
See the DARE stock overview for the latest quote and news, or the DARE chart for price history and technical indicators.
DARE income statement FAQ
What is Daré Bioscience's annual revenue?
Daré Bioscience reported total revenue of $1.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 10,429.4% from $0.0 million the previous year.
Is Daré Bioscience profitable?
No. Daré Bioscience reported a net loss of $13.4 million in fiscal 2025, a net profit margin of −1,300.7%; its operating margin was −1,315.5%.
What is Daré Bioscience's gross margin?
Daré Bioscience's gross margin was −137.5% in fiscal 2025: for every $100 of revenue, Daré Bioscience kept $-138 after the direct cost of its products and services.
How much does Daré Bioscience spend on research and development?
Daré Bioscience spent $5.5 billion on research and development in fiscal 2025, 536,147.3% of revenue.
What are Daré Bioscience's earnings per share?
Daré Bioscience earned $-1.33 per diluted share in fiscal 2025, compared with $-2.93 a year earlier.
When will Daré Bioscience report its next earnings?
Daré Bioscience is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 after the market closes.
When does Daré Bioscience's fiscal year end?
Daré Bioscience's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 26, 2026.