Aytu BioPharma completed a strategic pivot in 2024, exiting the consumer health business and winding down its Texas Grand Prairie manufacturing footprint to focus resources on its prescriptionRx business (ADHD and pediatric portfolios). For the year ended June 30, 2024, net revenue declined to $81.0 million from $107.4 million in the prior year, reflecting the wind-down in consumer health and payer-driven variability in pediatric scripts. Despite lower top-line revenue, the company achieved a meaningful profitability turnaround, with consolidated adjusted EBITDA of $9.2 million for fiscal 2024, a sizable swing from negative EBITDA in 2022 and 2023. Management cites the improvement in operating profile as a cornerstone of investor value creation, including debt refinancing with Eclipse, extension of the revolving facility, and removal of going-concern language. In 2024, Rx gross margins improved to 75% (vs 71% prior year) driven by a favorable mix and efficiency gains after transitioning ADHD production to a U.S.–based contract manufacturer, while overall company margins rose to 67% from 62%. ADHD revenue rose 23% year-over-year, supporting a narrative of accelerating core prescription growth, though pediatric revenues contracted sharply due to payer changes. Early 2025 data indicated continued ADHD unit demand strength (year-to-date unit growth ~26% vs. prior period) and early signs of pediatric stabilization, with ongoing commercial initiatives via the RxConnect platform designed to improve payer coverage and patient access. Management guides to returning Rx-revenue and adjusted EBITDA growth in fiscal 2025, signaling a path to higher profitability as the company scales its RxConnect-enabled commercial engine and modestly expands its product slate. Overall, the company presents a cautiously optimistic, debt-leaning turnaround story with a disciplined balance sheet, improving gross margins, and a laser focus on profitability and free cash flow generation in 2025.