Aytu Biopharma delivered a meaningful turnaround in Q3 FY2025, posting 32% year-over-year revenue growth to $18.45 million driven by its ADHD portfolio (+25% YoY) and pediatric portfolio (+77% YoY). The company achieved positive operating income of $2.42 million and net income of $3.99 million, marking the second quarter with positive operating income and the third quarter of positive net income from continuing operations. Adjusted EBITDA reached $3.90 million, contributing to a trailing-12-month EBITDA of $9.2 million. These results reflect the culmination of multi-year strategic actions to de-emphasize non-core assets, outsource manufacturing, and optimize the commercial platform (notably RxConnect), which together improved gross-to-net performance and cost efficiency. Management emphasized the ADHD and pediatric franchises as primary growth engines while signaling continued exploration of in-licensed or acquired assets to broaden the CNS-focused sales footprint and RxConnect reach. Notably, accounts receivable rose to $35.8 million as of March 31, 2025, highlighting working-capital dynamics tied to lumpy quarterly shipments, though near-term collections were favorable (about $19 million in April). The company does not provide formal forward guidance, but a qualitative outlook points to incremental margin expansion as inventory clears, ongoing OpEx rigor, and potential accretive acquisitions. Overall, AYTU is transitioning from a restructuring-era model to a more balanced, growth-oriented platform with a strong emphasis on physician/payer access via RxConnect and selective inorganic growth.