Financial health
- The company is unprofitable; at its current free-cash-flow burn it has roughly 2.4 years of cash runway.
DARE Financials Dare Bioscience, Inc.
15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $1M | -$13M | 71.3% | -1315.5% | -$10M | — | $25M |
| 2024 | $9784 | -$4M | 100.0% | -239692.2% | $5M | — | $16M |
| 2023 | $3M | -$30M | 0.0% | -1101.9% | -$39M | — | $10M |
| 2022 | $10M | -$31M | 0.0% | -313.9% | -$18M | — | $35M |
| 2021 | $0 | -$39M | — | — | -$29M | — | $52M |
| 2020 | — | -$27M | — | — | -$25M | — | $5M |
| 2019 | — | -$14M | — | — | -$13M | — | $5M |
| 2018 | — | -$17M | — | — | -$10M | — | $7M |
| 2017 | — | -$12M | — | — | -$3M | — | $8M |
| 2016 | — | -$672687 | — | — | — | — | $44614 |
| 2015 | — | -$40M | — | — | — | — | $219413 |
| 2014 | — | -$23M | — | — | — | — | $51M |
| 2014 | — | -$101M | — | — | — | — | $8M |
| 2013 | — | -$17M | — | — | — | — | $5M |
| 2012 | — | -$22M | — | — | — | — | $17M |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $152455 | -$3M | -58.9% | -1967.1% | -$6M | — | $19M |
| Dec '25 | $1M | -$1M | 0.0% | -143.7% | $1M | — | $25M |
| Sep '25 | $2262 | -$4M | 0.0% | -162340.8% | -$616837 | — | $23M |
| Jun '25 | -$21172 | -$4M | 0.0% | 18079.5% | -$5M | — | $5M |
| Mar '25 | $25427 | -$4M | 100.0% | -18016.7% | -$6M | — | $10M |
| Dec '24 | -$63647 | -$6M | 0.0% | 8465.8% | $5M | — | $16M |
| Sep '24 | $41691 | -$5M | 0.0% | -11228.7% | -$6M | — | $11M |
| Jun '24 | $22438 | $13M | 0.0% | -32799.1% | $13M | — | $16M |
| Mar '24 | $9302 | -$7M | 0.0% | -64743.9% | -$7M | — | $4M |
| Dec '23 | — | -$5M | — | — | -$9M | — | $10M |
| Sep '23 | $1M | -$8M | 0.0% | -839.6% | -$8M | — | $14M |
| Jun '23 | $0 | -$9M | — | — | -$7M | — | $13M |
| Mar '23 | $0 | -$8M | — | — | -$16M | — | $20M |
| Dec '22 | $0 | -$16M | — | — | -$6M | — | $35M |
| Sep '22 | $0 | -$7M | — | — | $9M | — | $40M |
| Jun '22 | $10M | $413998 | 0.0% | 3.8% | -$8M | — | $32M |
| Mar '22 | — | -$8M | — | — | -$12M | — | $39M |
| Dec '21 | $0 | -$10M | — | — | -$10M | — | $52M |
| Sep '21 | $0 | -$13M | — | — | $1M | — | $46M |
| Jun '21 | $0 | -$9M | — | — | -$12M | — | $9M |
Valuation over time
How the market has priced DARE against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-sales ratio has risen from 1.5× (Mar '23) to 29.4× (Jun '26).
P/S
Frequently asked questions
Is DARE growing its revenue and profit?
See the revenue and net-income charts above for Dare Bioscience, Inc.'s multi-year trend.
How much debt does DARE have?
As of FY2025, Dare Bioscience, Inc. reported — of total debt against $25M of cash.
What is DARE's profit margin?
In FY2025, gross margin was 71.3%, operating margin -1315.5%, and net margin -1300.7%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.