NovaBay Pharmaceuticals Reports Preliminary Eyecare and Wound Care Revenue Increased 13% for the First Quarter of 2024 on Lower Sales and Marketing Expenses

NovaBay Pharmaceuticals, Inc. (NYSE American: NBY) reports preliminary net revenue for its eyecare and wound care business for the first quarter of 2024 of $2.6 million, a 13% increase from the first quarter of 2023. This increase was achieved with lower sales and marketing expenses, and is attributed primarily to social media marketing programs aimed at consumer sales of the Company’s lead product, Avenova Antimicrobial Lid & Lash Solution.

“We started 2024 with strong revenue growth from our core eyecare business while reducing marketing spend by capitalizing on our e-marketing expertise,” said Justin Hall, CEO of NovaBay. “Investing in direct-to-consumer marketing to leverage our clinical pedigree is a modern approach to the pharmaceutical industry’s traditional sales model. We are pleased that our social media programs are efficiently establishing consumer trust in the Avenova brand as eyecare professionals engage with new potential customers to share their personal experience, knowledge and recommendations.”

NovaBay also announces the expansion of its Avenova Ambassador initiative, an efficient omni-channel, influencer-based social media program. This initiative involves content collaborations and affiliate partnerships with key medical influencers including optometrists and ophthalmologists, collectively known as Avenova “Docfluencers,” as well as consumer-based influencers in strategic growth categories such as beauty and health and wellness. The Avenova Ambassador initiative is proven to be successful in reaching new customers while helping build brand awareness and loyalty via social media channels including TikTok, Instagram, YouTube, Facebook and Pinterest, as well as in email campaigns.

About NovaBay Pharmaceuticals, Inc.

NovaBay’s leading product Avenova Antimicrobial Lid & Lash Solution is often prescribed by eyecare professionals for blepharitis and dry-eye disease and is available directly to consumers through online distribution channels such as Amazon.com. 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. 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.