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Jun 30, 2025
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.
Revenue by Segment
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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