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Verrica Pharmaceuticals (VRCA) investor relations material
Verrica Pharmaceuticals Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary17 Nov, 2025
Executive summary
Q3 2025 revenue reached $14.3 million, a significant increase from negative $1.8 million in Q3 2024, driven by higher YCANTH sales and $10.7 million in milestone and collaboration revenue from Torii for Japanese approval.
Net loss narrowed to $0.3 million ($0.03/share) in Q3 2025 from $22.9 million ($4.88/share) in Q3 2024; non-GAAP net income was $1.2 million ($0.13/share).
Cash and cash equivalents totaled $21.1 million as of September 30, 2025, with substantial doubt about the ability to continue as a going concern into late Q4 2025 without additional funding.
Dispensed 14,093 YCANTH applicator units in Q3 2025, a 4.9% sequential increase and 120% year-over-year growth for the nine months ended September 30, 2025.
1-for-10 reverse stock split completed in July 2025.
Financial highlights
Product revenue, net, was $3.6 million in Q3 2025, up from negative $1.9 million in Q3 2024 due to increased YCANTH deliveries and lower returns.
License and collaboration revenue was $10.7 million in Q3 2025, mainly from a $10 million milestone payment from Torii.
Gross margin was 79.1% in Q3 2025, with cost of product revenue at $0.8 million, including $0.4 million in obsolete inventory costs.
Operating expenses decreased to $12.7 million in Q3 2025 from $18.9 million in Q3 2024, reflecting lower SG&A and R&D costs.
Interest expense for the quarter was $2.1 million, down from $2.4 million year-over-year.
Outlook and guidance
Cash is expected to support operations into late Q4 2025; additional capital is needed to fund ongoing and future activities.
Expects to launch YCANTH Rx, a new pharmacy option, in Q4 2025 and expand sales force to 50 representatives in 2026.
Anticipates first patient enrollment in the global Phase 3 program for common warts in the US by end of 2025.
Anticipates filing for EU marketing authorization for YCANTH in molluscum as early as Q4 2026, with no further phase III studies required.
Exploring strategic partnerships and non-dilutive funding for pipeline and commercialization.
YCANTH Rx launch and sales force expansion plan
VP-315 Phase 3 funding and timeline
YCANTH EU MAA filing and common warts progress
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Next Verrica Pharmaceuticals earnings date
Q4 202527 Feb, 2026
Next Verrica Pharmaceuticals earnings date
Q4 202527 Feb, 2026
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Frequently asked questions
Verrica Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company focused on developing innovative treatments for dermatological conditions, particularly those requiring medical interventions. The company is dedicated to addressing the unmet needs in medical dermatology by identifying, developing, and commercializing novel pharmaceutical products. Its pipeline includes product candidates aimed at treating a variety of skin diseases, leveraging research to offer new therapeutic options to patients and healthcare providers. The company is headquartered in West Chester, Pennsylvania, and its shares are listed on the Nasdaq.
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