TherapeuticsMD Inc (NASDAQ:TXMD) Q3 2019 Earnings Conference Call - Final Transcript

Good afternoon, ladies and gentlemen, thank you for joining us for the TherapeuticsMD Third Quarter 2019 Financial Results Conference Call. Following prepared remarks from the Company, we will open the call for questions. I would now like to turn the call over to TherapeuticsMD's, Vice President of Investor Relations, Nichol Ochsner. Nichol?

Good afternoon everyone, thank you for joining today to discuss our third quarter financial results and business update. This afternoon TherapeuticsMD issued a press release announcing our third quarter financial results. The press release is available on the Company's website therapeuticsmd.com in the Investors and Media section. On today's call, from TherapeuticsMD, are Chief Executive Officer, Robert Finizio; Chief Financial Officer, Dan Cartwright; and Chief Commercial Officer, Dawn Halkuff.

I would like to remind everyone that certain statements made during this conference call may be forward-looking statements. Such forward-looking statements are based upon current expectations and there can be no assurance that such statements may be realized -- that the results contemplated in these statements will be realized. Actual results may differ materially from statements due to a number of factors and risks, some of which are identified in our press release and our annual quarterly and other reports filed with the SEC.

These forward-looking statements are based on information available to TherapeuticsMD today and the Company assumes no obligation to update statements as circumstances change. An audio recording and webcast replay for today's conference call will also be available online in the Investors and Media section of the website. For the benefit of those who may be listening to the replay or archived webcast, this call was held and recorded November 6, 2019. With that, I'll turn the call over to TherapeuticsMD CEO, Rob Finizio.

Thanks, Nichol. Good afternoon everyone and thank you for joining today's call. We are pleased to report a strong third quarter with net revenues that came in at the upper end of our financial guidance. This was led by growth in product sales from our FDA-approved products, reflecting continued successful commercial execution. Let me now turn the call over to our Chief Financial Officer, Dan Cartwright, to review our Q3 financial results in more detail.

Thanks, Rob. Third quarter 2019 financial results are included in the press release issued today. Turn now to Slide 3. I'm going to focus on sequential trends from our second to third quarters which we believe is a better comparison as we discuss our performance. The combination of net revenue from product sales and licensing brings our overall net revenue for the third quarter to $23.7 million compared with $6.1 million for the previous quarter.

Slide 4, shows our third quarter product revenue performance compared to our guidance. Third quarter net revenue of our FDA-approved products was $5.7 million and at the upper end of our financial guidance. Net revenue from our prescription prenatal vitamin business was $2.25 million for the third quarter of 2019 coming in above our financial guidance. Total product net revenue came in at