Biofrontera(BFRI) - 2024 Q4 - Annual Results

Financial Performance - Total revenues for 2024 reached $37.3 million, a 9.5$34.1 million in 2023, with Q4 2024 revenues growing 18.5% year-over-year[2] - Total revenues for the year ended December 31, 2024, were $37,321 million, up 9$34,071 million in 2023[20] - Product revenues for Q4 2024 reached $12,560 million, a 19$10,582 million in Q4 2023[20] - The net loss for Q4 2024 was $1,396 million, compared to a net income of$3,525 million in Q4 2023[20] - Net loss for 2024 was $(17.8) million, or$(3.22) per diluted share, an improvement from a net loss of $(20.1) million, or$(13.02) per share, in 2023[11] Operating Expenses - Total operating expenses for 2024 decreased to $54.5 million from$56.7 million in 2023, reflecting a reduction of approximately 3.9%[9] - Selling, general and administrative expenses for 2024 decreased by $5.3 million, or 13.5$14,272 million, slightly down from $14,462 million in Q4 2023[20] Cash and Cash Equivalents - Cash and cash equivalents increased to$5.9 million as of December 31, 2024, compared to $1.3 million at the end of 2023[2] - Cash, cash equivalents, and restricted cash at the end of 2024 were$6,105 million, up from $1,543 million at the beginning of the year[23] - Cash flows used in operating activities for the year ended December 31, 2024, were$(10,270) million, an improvement from $(24,895) million in 2023[22] Adjusted EBITDA - Adjusted EBITDA for 2024 was negative$15.3 million, an improvement from negative $19.5 million in 2023[12] - Adjusted EBITDA for the year ended December 31, 2024, was$(15,258) million, improving from $(19,456) million in 2023[25] - The adjusted EBITDA margin for Q4 2024 was -10.9$7,385 million in Q4 2023, which significantly impacted the income statement[20] Share Information - The weighted-average common shares outstanding for Q4 2024 were 7,519,210, compared to 2,140,400 in Q4 2023[20]