Journey Medical (DERM) Q2 2026 earnings summary

Executive summary

• Achieved total revenues of $18.5 million in Q2 2026, representing 23% year-over-year growth, driven by strong demand for Emrosi/EMROSI and higher prescription volume, improved payer reimbursement, and increased prescriber adoption.

• Net loss for Q2 2026 was $0.3 million ($0.01 per share), a significant improvement from $3.8 million ($0.16 per share) in Q2 2025, reflecting higher revenues and reduced SG&A expenses.

• Positive EBITDA and Adjusted EBITDA were reported for Q2 2026, with management expecting 2026 to be a breakout year for both revenue and profitability.

• Cash and cash equivalents increased to $25.6 million as of June 30, 2026.

• For the six months ended June 30, 2026, net product revenue rose 20% year-over-year to $33.8 million, with Emrosi contributing $14.3 million.

Financial highlights

• Total revenue for Q2 2026 was $18.5 million, up from $15 million in Q2 2025, a 23% increase.

• Gross margin remained strong at 67%, consistent with the prior year.

• GAAP net loss narrowed to $300,000 ($0.01 per share), compared to $3.8 million ($0.16 per share) in Q2 2025.

• Non-GAAP EBITDA was $1.4 million for Q2 2026; adjusted EBITDA was $2.9 million.

• Cash and cash equivalents at June 30, 2026: $25.6 million; working capital: $27.0 million.

Outlook and guidance

• Management expects continued strong financial performance, supported by Emrosi/EMROSI momentum and robust cash position.

• Expects continued sequential gains in average selling price (ASP) for Emrosi/EMROSI as payer reimbursement improves.

• Anticipates positive EBITDA for the remainder of 2026 and aims for sustainable earnings and cash flow positivity.

• SG&A as a percentage of revenue expected to remain consistent, with some increase due to marketing and advertising in H2.

• Substantial doubt exists about the ability to continue as a going concern for at least twelve months due to recurring losses.