Journey Medical (US:DERM)2025-11-12 21:07Financial Performance - Third quarter 2025 net revenues were $17.6 million, a 21% increase from $14.6 million in the same quarter of 2024[3] - Total revenue for the three-month period ended September 30, 2025, was $17,631 million, a 20.5% increase from $14,629 million in the same period of 2024[16] - Product revenue for the nine-month period ended September 30, 2025, reached $45,173 million, up from $42,514 million in 2024, reflecting a growth of 6.2%[16] - The net loss for Q3 2025 was $2.3 million, slightly improved from a net loss of $2.4 million in Q3 2024[8] - The net loss for the three-month period ended September 30, 2025, was $2,315 million, a slight improvement from a net loss of $2,390 million in the same period of 2024[16] - Basic GAAP net loss per share for the three-month period ended September 30, 2025, was $0.09, compared to $0.12 in 2024[22] Expenses - Selling, general and administrative (SG&A) expenses were $12.1 million, reflecting a 6% increase from $11.4 million in Q3 2024, primarily due to Emrosi's commercialization[3] - Operating expenses for the three-month period ended September 30, 2025, totaled $19,160 million, compared to $17,523 million in 2024, representing a 9.3% increase[16] - Research and development expenses for the three-month period ended September 30, 2025, were $287 million, down from $842 million in 2024[16] - Interest expense for the three-month period ended September 30, 2025, was $937 million, compared to $758 million in 2024, indicating a 23.6% increase[16] - The company reported a total other expense of $786 million for the three-month period ended September 30, 2025, compared to an income of $504 million in the same period of 2024[16] Profitability Metrics - Adjusted EBITDA for Q3 2025 was $1.7 million, compared to $0.3 million in the prior-year quarter, reflecting a $1.4 million improvement[8] - Adjusted EBITDA for the three-month period ended September 30, 2025, was $1,676 million, significantly higher than $252 million in 2024[22] Cash Position - Cash and cash equivalents increased to $24.9 million as of September 30, 2025, up from $20.3 million at the end of 2024[8] Product Performance - Emrosi™ total prescriptions increased 146% over the second quarter of 2025, generating $4.9 million in net revenues for the third quarter[2] - Emrosi demonstrated superior efficacy in clinical trials, with statistically significant improvements over both placebo and doxycycline[8] - Expanded payer access for Emrosi now covers over 100 million commercial lives in the U.S., up from 54 million in May 2025[8] Future Outlook - The company anticipates significant operating leverage from the growth of Emrosi and its established dermatology commercial infrastructure[2] Gross Margin - Gross margin improved to 67.4% in Q3 2025, compared to 69.4% in Q3 2024, driven by higher-margin products and lower inventory costs[3] Share Information - The weighted average number of common shares for the three-month period ended September 30, 2025, was 24,959,114, an increase from 20,537,794 in 2024[22]