NovaBay Pharmaceuticals Reports 64% Year-Over-Year Growth in Avenova Unit Subscription-Based Sales
January 30 2024 - 8:00AM
Business Wire
NovaBay Pharmaceuticals, Inc. (NYSE American: NBY) announces a
64% increase in online subscription-based unit sales for its
Avenova® Lid & Lash Spray Solution and a 38% increase in
subscription-based customers in 2023 over the prior year on
Amazon.com and Avenova.com. A substantial 24% of all online sales
were from subscribers in 2023, up from approximately 14% in 2022.
In addition, of the more than 13,000 customer reviews across all
online channels, Avenova Spray averaged a 4.5-star overall
rating.
“We are proud of our loyal customer base and Avenova’s
consistently superior ratings on our two primary online channels,
which we attribute to the superior quality and effectiveness of our
product,” said Justin Hall, CEO of NovaBay. “Generating sales
through the subscriber base provides efficient and consistent
revenue, allowing us to better manage our sales and marketing
spend.
“Because dry eye is a complex condition, over the past several
years we expanded our Avenova portfolio of best-in-class products,”
he added. “While the vast majority of our online sales came through
Amazon.com, during 2023 we also saw a significant increase in the
Avenova subscriber base through our own Avenova website.”
NovaBay offers a full portfolio of scientifically developed
products for each step of the standard dry eye treatment regimen,
including the Avenova Eye Health Support antioxidant-rich oral
supplement, Avenova Lubricating Eye Drops for instant relief,
Avenova Warm Eye Compress to soothe the eyes and the i-Chek by
Avenova to monitor physical eyelid health. The Avenova Allograft,
an amniotic tissue prescription-only product, is available through
eyecare professionals in the United States.
About Avenova
Manufactured in the U.S., Avenova spray is formulated with
NovaBay's patented, proprietary, stable and pure form of
hypochlorous acid. It is clinically proven to kill a broad spectrum
of bacteria to help relieve the symptoms of bacterial dry eye, yet
is non-irritating and completely safe for regular use. All Avenova
products are available directly to consumers through online
distribution channels such as Amazon.com and Avenova.com.
About NovaBay Pharmaceuticals, Inc.:
NovaBay Pharmaceuticals, Inc. develops and sells scientifically
created and clinically proven eyecare, skincare and wound care
products. NovaBay’s leading product Avenova® Antimicrobial Lid
& Lash Solution is often prescribed by eyecare professionals
for blepharitis and dry-eye disease and is also available directly
to consumers through online distribution channels such as
Amazon.com. DERMAdoctor® offers more than 30
dermatologist-developed skincare products through the DERMAdoctor
website, well-known traditional and digital beauty retailers, and
international distributors. NovaBay also manufactures and sells
effective, yet gentle and non-irritating wound care products. The
PhaseOne® brand is distributed through commercial partners in the
U.S. for professional use only, and the NeutroPhase® brand is
distributed in China by China Pioneer Pharma Holdings, Limited.
More information about NovaBay is available here.
Forward-Looking Statements
Except for historical information herein, matters set forth in
this press release may be forward looking within the meaning of the
“safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995, including statements about the commercial
progress and future financial performance of NovaBay
Pharmaceuticals, Inc. This release contains forward-looking
statements that are based upon management’s current expectations,
assumptions, estimates, projections and beliefs. These statements
include, but are not limited to, statements regarding our current
revenue sources, expected future revenue, customer satisfaction, as
well as generally the Company’s expected future financial results.
These statements involve known and unknown risks, uncertainties and
other factors that may cause actual results or achievements to be
materially different and adverse from those expressed in or implied
by the forward-looking statements. Factors that might cause or
contribute to such differences include, but are not limited to,
risks and uncertainties relating to the size of the potential
market for our products, the possibility that the available market
for the Company’s products will not be as large as expected, the
Company’s products will not be able to penetrate one or more
targeted markets, and revenues will not be sufficient to meet the
Company’s cash needs. Other risks relating to NovaBay’s business,
including risks that could cause results to differ materially from
those projected in the forward-looking statements in this press
release, are detailed in NovaBay’s latest Form 10-Q/K filings and
Registration Statement on Form S-1 filing with the Securities and
Exchange Commission, especially under the heading “Risk Factors.”
The forward-looking statements in this release speak only as of
this date, and NovaBay disclaims any intent or obligation to revise
or update publicly any forward-looking statement except as required
by law.
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Purchasing Information For NovaBay Avenova purchasing
information: Please call 800-890-0329 or email sales@avenova.com
Avenova.com DERMAdoctor Purchasing
Information For DERMAdoctor purchasing information:
Please call 877-337-6237 or email service@dermadoctor.com
DERMAdoctor.com
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version on businesswire.com: https://www.businesswire.com/news/home/20240130786781/en/
NovaBay Contact Justin Hall
Chief Executive Officer and General Counsel 510-899-8800
jhall@novabay.com Investor
Contact LHA Investor Relations Jody Cain 310-691-7100
jcain@lhai.com
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