Agile Therapeutics, Inc. (NASDAQ:AGRX) Q4 2023 Earnings Call Transcript March 28, 2024

Agile Therapeutics, Inc. misses on earnings expectations. Reported EPS is $-1.46 EPS, expectations were $-0.92. AGRX isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Operator: Good morning, and welcome to the Agile Therapeutics Fourth Quarter and Full Year 2023 Financial Results Conference Call. Please note, today’s event is being recorded. I would now like to turn the conference over to Matt Riley, Head of Investor Relations. Please go ahead.

Matt Riley: Hello, everyone, and welcome to today conference call to discuss our fourth quarter and full year 2023 financial results and corporate update. Before we start, let me remind you that today’s call will include forward-looking statements based on our current expectations, including statements concerning our financial outlook and financing prospects for the future, management’s expectations for our future financial and operational performance, including our expectations regarding the market growth of Twirla and our ability to become cash flow positive; our operating expenses, our business strategy, our partnership with Afaxys and its ability to promote growth; our product supply agreement with Nurx and its ability to make Twirla broadly available to patients, the future availability of no-cost access to Twirla under federal law, and our assessment of the combined hormonal contraceptive market generally, among other statements regarding our plans, prospects and expectations.

Such statements represent our judgments as of today, are not promises or guarantees and may involve risks and uncertainties that may cause actual results to differ from the results discussed in the forward-looking statements. Further, during the course of today’s call, we will refer to certain non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in our press release issued today, which can be found on the Investor Relations section of our website. Please refer to our filings with the SEC, which are available through the Investor Relations section of the website, for information concerning risk factors that may affect the company. We undertake no obligation to update forward-looking statements, except as required by law.

The information on today’s call is not intended for promotional purposes and is not sufficient for prescribing decisions. Please note that we will not be conducting a Q&A session following our prepared remarks. Joining me on today call is Al Altomari, Agile Therapeutics’ Chair and Chief Executive Officer.

Al Altomari: Thank you very much, Matt, and thank you all for joining us today on our call. 2023 was a year for Agile Therapeutics that we believe demonstrated our ability to continue to grow Twirla. This time last year, we were fielding questions from investors and analysts about the sustainability of our 2022 growth and performance moving forward. We believe we’ve answered the sustainability questions in 2023 by once again demonstrating meaningful year-over-year growth in net revenue, Twirla demand, and Twirla factory sales, while simultaneously reducing operating expenses to support our target revenue growth. Today, I will review our 2023 full year growth metrics, and then dive into the fourth quarter 2023 performance, which admittedly did not meet our expectations.

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