EMERYVILLE, Calif.—NovaBay Pharmaceuticals, Inc. (NYSE American: NBY), a developer of eyecare, skin care and wound care products, has announced preliminary net revenue of $2.4 million for the second quarter of 2024 and $5.0 million for the first half of 2024, primarily derived from the company’s eyecare products. Net revenue from the company’s eyecare products increased by 9 percent for both the second quarter and the first half of 2024 compared with the corresponding periods in 2023, the company noted. NovaBay also said it expects 2024 net revenue from the company’s eyecare products to be approximately $10 million.

“The increase in eyecare net revenue so far this year was driven by higher sales of Avenova-branded products through online channels," said Justin Hall, CEO of NovaBay. "We benefited from growth in Avenova sales due to our loyal Amazon and Avenova.com subscribers with our subscriber base accounting for approximately 23 percent of all online Avenova revenue for the first half of this year."

He added, “Growth in our subscriber base is critical to our business success because these loyal customers generate consistent sales that we can build upon through our cost-efficient digital marketing programs. In fact, even with this year’s expected revenue growth, we anticipate a slight year-over-year decline in sales and marketing expenses. Our ability to consistently grow our base underscores our belief that first-time consumers who use our high-quality Avenova products typically return as satisfied repeat customers. This further supports NovaBay’s strategic focus on the large, growing U.S. dry eye market.”

The number of Avenova subscribers on Amazon, the company’s largest sales channel, increased 16 percent during the first six months of 2024 and is up 123 percent since the beginning of 2022, according to the announcement.