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Jun 30
Journey Medical Q2 2025 Earnings Report
Journey Medical reported a slight increase in Q2 2025 revenue and launched Emrosi, contributing $2.8 million in net sales during its first full quarter on the market.
Key Takeaways
Journey Medical posted $15 million in revenue during Q2 2025, driven in part by Emrosi's initial commercial performance. Gross margin improved to 67% and adjusted EBITDA loss narrowed to $0.5 million. However, the company recorded a net loss of $3.8 million for the quarter.
Q2 2025 revenue reached $15 million, up slightly from $14.9 million YoY.
Emrosi contributed $2.8 million in net sales in its first full quarter on the market.
Gross margin improved to 67% from 61% YoY due to favorable product mix and fewer non-recurring charges.
Adjusted EBITDA was $(0.5) million, compared to a positive $0.3 million in Q2 2024.
Journey Medical
Journey Medical
Journey Medical Revenue by Segment
Revenue by Segment
Emrosi Revenue
CapyFin.com Forward Guidance
Journey Medical anticipates continued growth momentum in H2 2025, driven by expanding payer coverage and physician adoption of Emrosi.
Positive Outlook
- Emrosi shows strong early uptake in prescriptions.
- Expanded commercial coverage to over 100 million lives in the U.S.
- Joined Russell 2000® and 3000® Indexes in June 2025.
- Gross margin improvement enhances profitability outlook.
- Cash balance remains stable at $20.3 million.
Challenges Ahead
- Q2 net loss widened to $3.8 million.
- Adjusted EBITDA turned negative compared to prior-year profitability.
- SG&A expenses increased $1.6 million YoY due to Emrosi launch.
- Still dependent on single-product launch for near-term growth.
- No update on international expansion or pipeline development.