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Femasys Announces Third Quarter Financial Results for 2025

– FDA Approval to Advance Final FemBloc® Trial with Clear Pathway to Potentially Achieve U.S. FDA Approval –
 
– $12 Million Financing Strengthens Balance Sheet and Extends Cash Runway –
 
ATLANTA, November 14, 2025 – Femasys Inc. (NASDAQ: FEMY), a leading biomedical innovator making fertility and non-surgical permanent birth control more accessible and cost-effective to women worldwide, announced its financial results for the third quarter of 2025.
 
Corporate Highlights from 3Q 2025

 
•
Announced second partner order for FemBloc in Europe
 
•
Announced FDA IDE approval to continue enrollment in final phase of the FINALE pivotal trial for FemBloc
 
•
Announced a definitive agreement for the issuance of $12 million in secured convertible notes and accompanying warrants for total potential funding of $58 million, if all warrants are exercised for cash
 
•
Announced the initiation of post-market surveillance study for FemBloc in Europe
 
•
Announced partnership with Kebomed, a leading European distributor of medical devices and equipment, to commercialize FemBloc in France and the Benelux region (the Netherlands, Belgium and Luxembourg)
 
•
Announced partnership with Medical Electronic Systems LLC to provide FemSpermTM Analysis Kit for use with FemaSeed®
 
•
Announced FemSperm Setup and Preparation Kits, designed to fully enable gynecologists to perform FemaSeed Intratubal Insemination
 
•
Announced New Zealand regulatory approval of FemBloc
 
•
Announced underwritten public offering with gross proceeds of $8 million
 
•
Announced United Kingdom regulatory approval of FemBloc
 
“Our third quarter marked several pivotal milestones for Femasys as we advanced on multiple fronts, securing key regulatory approvals, strengthening our balance sheet through new financing, and expanding global partnerships for FemBloc, all reinforcing our commitment to delivering innovative solutions for women’s health,” said Kathy Lee-Sepsick, Chief Executive Officer and Founder of Femasys. “Regulatory approvals of the complete FemBloc System in the U.K. and New Zealand significantly expand access to this revolutionary, non-surgical permanent birth control option across Europe and the Asia-Pacific region. With initial commercial orders received from our distribution partners in Spain and France, we are building early momentum as we pursue additional country approvals. At the same time, we continue to advance toward U.S. approval of FemBloc, following the FDA’s recent IDE approval to initiate the final pivotal trial phase required for regulatory approval.”

Financial Results for Quarter Ended September 30, 2025
 
 
•
Sales increased by $174,486, or 31.4%, to $729,394 for the three months of 2025, compared to $554,908 for the three months of 2024 primarily due to sales of FemBloc.
 
•
Research and development expenses decreased by $921,219, or 40.0%, to $1,382,022 for the three months of 2025 compared to $2,303,241 for the three months of 2024 primarily due to commercialization of development products into inventory and reduced compensation costs, clinical costs and professional fees.
 
•
Net loss was $4,194,821, or ($0.10) per basic and diluted share attributable to common stockholders, for the three-month period ended September 30, 2025, compared to a net loss of $5,408,860, or ($0.24) per basic and diluted share attributable to common stockholders, for the three-month period ended September 30, 2024.
 
•
Cash and cash equivalents as of September 30, 2025, was approximately $4.6 million and the Company had an accumulated deficit of approximately $141.9 million. The Company expects, based on its current operating plan, our current cash and cash equivalents, which includes proceeds from our recent financing, will be sufficient to fund its ongoing operations into September 2026.
 
Financial Results for Nine Months Ended September 30, 2025
 
 
•
Sales increased by $432,394, or 41.3%, to $1,479,926 for the nine months of 2025, compared to $1,047,532 for the nine months of 2024 due to sales of FemBloc and FemVue.
 
•
Research and development expenses decreased by $284,924, or 4.7%, to $5,764,923 for the nine months of 2025 compared to $6,049,847 for the nine months of 2024 primarily due to commercialization of development products into inventory, reduced clinical costs and professional fees, partially offset by increased regulatory costs.
 
•
Net loss was $14,677,582, or ($0.46) per basic and diluted share attributable to common stockholders, for the nine-month period ended September 30, 2025, compared to a net loss of $13,692,944, or ($0.62) per basic and diluted share attributable to common stockholders, for the same period ended September 30, 2024.
 
For more information, please refer to the Company’s Form 10-Q filed November 14, 2025, which can be accessed on the SEC website.
 
FEMASYS INC.
Condensed Balance Sheets
(unaudited)

Assets
  
September 30,
2025
    
December 31,
2024
  
Current assets:
            
Cash and cash equivalents
  
$
4,569,038
      
3,451,761
  
Accounts receivable, net
    
572,199
      
488,373
  
Inventory
    
5,783,974
      
3,046,323
  
Prepaid and other current assets
    
1,321,689
      
1,035,993
  
Total current assets
    
12,246,900
      
8,022,450
  
Property and equipment, at cost:
                
Leasehold improvements
    
1,238,886
      
1,238,886
  
Office equipment
    
78,155
      
60,921
  
Furniture and fixtures
    
417,876
      
417,876
  
Machinery and equipment
    
3,283,672
      
2,856,740
  
Construction in progress
    
687,462
      
762,445
  
     
5,706,051
      
5,336,868
  
Less accumulated depreciation
    
(3,956,987
)
    
(3,740,769
)
Net property and equipment
    
1,749,064
      
1,596,099
  
Long-term assets:
                
Lease right-of-use assets, net
    
1,419,345
      
1,805,543
  
Intangible assets, net of accumulated amortization
    
130,041
      
65,918
  
Other long-term assets
    
744,803
      
954,992
  
Total long-term assets
    
2,294,189
      
2,826,453
  
                 
Total assets
  
$
16,290,153
      
12,445,002
  

(continued)

FEMASYS INC.
Condensed Balance Sheets
(unaudited)

Liabilities and Stockholders’ Equity
  
September 30,
2025
    
December 31,
2024
  
Current liabilities:
            
Accounts payable
  
$
2,173,883
      
1,419,044
  
Accrued expenses
    
1,028,461
      
1,151,049
  
Note payable
    
276,489
      
—
  
Convertible notes payable, net (including related parties)
    
6,507,354
      
5,406,228
  
Clinical holdback – current portion
    
60,543
      
88,581
  
Lease liabilities – current portion
    
494,954
      
517,967
  
Total current liabilities
    
10,541,684
      
8,582,869
  
Long-term liabilities:
                
Clinical holdback – long-term portion
    
43,955
      
39,611
  
Lease liabilities – long-term portion
    
1,148,263
      
1,518,100
  
Total long-term liabilities
    
1,192,218
      
1,557,711
  
Total liabilities
    
11,733,902
      
10,140,580
  
Commitments and contingencies
                
Stockholders’ equity:
                
Common stock, $0.001 par, 200,000,000 authorized, 47,419,596 shares issued and 47,302,373 outstanding as of September 30, 2025; and 23,473,149 shares issued and 23,355,926 outstanding as of December 31, 2024
   
47,420
       23,473
  
Treasury stock, 117,223 common shares
    
(60,000
)
    
(60,000
)
Warrants
    
6,727,334
      
1,860,008
  
Additional paid-in-capital
    
139,717,336
      
127,679,198
  
Accumulated deficit
    
(141,875,839
)
    
(127,198,257
)

               
Total stockholders’ equity
    
4,556,251
      
2,304,422
  

               
Total liabilities and stockholders’ equity
  
$
16,290,153
      
12,445,002
  

FEMASYS INC.
Condensed Statements of Comprehensive Loss
(unaudited)

   
Three Months Ended September 30,
    
Nine Months Ended September 30,
  
   
2025
    
2024
    
2025
    
2024
  
Sales
  
$
729,394
      
554,908
      
1,479,926
      
1,047,532
  
Cost of sales (excluding depreciation expense)
    
293,838
      
190,839
      
569,275
      
352,496
  
                                 
Operating expenses:
                                
Research and development
    
1,382,022
      
2,303,241
      
5,764,923
      
6,049,847
  
Sales and marketing
    
1,143,805
      
1,572,189
      
3,037,349
      
2,847,866
  
General and administrative
    
1,477,800
      
1,530,791
      
4,817,485
      
4,645,412
  
Depreciation and amortization
    
85,697
      
76,288
      
256,835
      
215,144
  
Total operating expenses
    
4,089,324
      
5,482,509
      
13,876,592
      
13,758,269
  
Loss from operations
    
(3,653,768
)
    
(5,118,440
)
    
(12,965,941
)
    
(13,063,233
)
Other (expense) income:
                                
Interest income
    
17,315
      
124,028
      
53,488
      
532,850
  
Interest expense
    
(532,073
)
    
(413,290
)
    
(1,483,022
)
    
(1,163,153
)
Other expense
    
(26,295
)
    
—
      
(286,295
)
    
—
  
Total other expense, net
    
(541,053
)
    
(289,262
)
    
(1,715,829
)
    
(630,303
)
Loss before income taxes
    
(4,194,821
)
    
(5,407,702
)
    
(14,681,770
)
    
(13,693,536
)
Income tax expense (benefit)
    
—
      
1,158
      
(4,188
)
    
(592
)
                                 
Net loss
  
$
(4,194,821
)
    
(5,408,860
)
    
(14,677,582
)
    
(13,692,944
)
                                 
Net loss attributable to common stockholders, basic and diluted
  
$
(4,194,821
)
    
(5,408,860
)
    
(14,677,582
)
    
(13,692,944
)
Net loss per share attributable to common stockholders, basic and diluted
  
$
(0.10
)
    
(0.24
)
    
(0.46
)
    
(0.62
)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted
    
41,015,196
      
22,232,799
      
31,739,828
      
22,075,135
  

About Femasys
 
Femasys is a leading biomedical innovator focused on making fertility and non-surgical permanent birth control more accessible and cost-effective for women worldwide through its broad, patent-protected portfolio of novel, in-office therapeutic and diagnostic products. As a U.S. manufacturer with global regulatory approvals, Femasys is actively commercializing its lead product innovations in the U.S. and key international markets. Femasys’ fertility portfolio includes FemaSeed® Intratubal Insemination, a groundbreaking first-step infertility treatment and FemVue®, a companion diagnostic for fallopian tube assessment. Published clinical trial data demonstrates FemaSeed is over twice as effective as traditional IUI, with a comparable safety profile, and high patient and practitioner satisfaction.1

FemBloc® permanent birth control is the first and only non-surgical, in-office alternative to centuries-old surgical sterilization that received full regulatory approval in Europe in June of 2025, the UK in August 2025, and New Zealand in September 2025. Commercialization of this highly cost-effective, convenient and significantly safer approach will be completed through strategic partnerships in select European countries. Alongside FemBloc, the FemChec®, diagnostic product provides an ultrasound-based test to confirm procedural success. Published data from initial clinical trials demonstrated compelling effectiveness, five-year safety, and high patient and practitioner satisfaction.2 For U.S. FDA approval, enrollment in the FINALE pivotal trial (NCT05977751) is on-going.

Learn more at www.femasys.com, or follow us on X, Facebook and LinkedIn.

References
1Liu, J. H., Glassner, M., Gracia, C. R., Johnstone, E. B., Schnell, V. L., Thomas, M. A., L. Morrison, Lee-Sepsick, K. (2024). FemaSeed Directional Intratubal Artificial Insemination for Couples with Male-Factor or Unexplained Infertility Associated with Low Male Sperm Count. J Gynecol Reprod Med, 8(2), 01-12. doi: 10.33140/JGRM.08.02.08.

2Liu, J. H., Blumenthal, P. D., Castaño, P. M., Chudnoff, S. C., Gawron, L. M., Johnstone, E. B., Lee-Sepsick, K. (2025). FemBloc Non-Surgical Permanent Contraception for Occlusion of the Fallopian Tubes. J Gynecol Reprod Med, 9(1), 01-12. doi: 10.33140/JGRM.09.01.05.

Forward-Looking Statements 

This press release contains forward-looking statements that are subject to substantial risks and uncertainties. Forward-looking statements can be identified by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “pending,” “intend,” “believe,” “suggests,” “potential,” “hope,” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on our current expectations and are subject to inherent uncertainties, risks and assumptions, many of which are beyond our control, difficult to predict and could cause actual results to differ materially from what we expect. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ include, among others: our ability to obtain regulatory approvals for our FemBloc product candidate; develop and advance our current FemBloc product candidate and successfully enroll and complete the clinical trial; the ability of our clinical trial to demonstrate safety and effectiveness of our product candidate and other positive results; estimates regarding the total addressable market for our products and product candidate; our ability to commercialize our products and product candidate, our ability to establish, maintain, grow or increase sales and revenues, or the effect of delays in commercializing our products, including FemaSeed; our business model and strategic plans for our products, technologies and business, including our implementation thereof; and those other risks and uncertainties described in the section titled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024, and other reports as filed with the SEC. Forward-looking statements contained in this press release are made as of this date, and Femasys undertakes no duty to update such information except as required under applicable law.

# # #

Contacts: 
 
David Gutierrez, Dresner Corporate Services, (312) 780-7204, dgutierrez@dresnerco.com
Nathan Abler, Dresner Corporate Services, (714) 742-4180, nabler@dresnerco.com