Journey Medical (FBIO) Q2 2026 Earnings Call: Revenue Rises 23% as Emrosi Accelerates
Source Tradingkey
Key Takeaways
- Second-quarter 2026 revenue increased 23% year over year to $18.5 million, primarily driven by Emrosi, which generated $8.1 million in net revenue.
- Emrosi prescriptions reached approximately 36,000, up 20% sequentially from about 30,000 in Q1 2026. July prescriptions subsequently rose to approximately 14,000 from 13,000 in June.
- GAAP net loss narrowed to $300,000, or $0.01 per share, from $3.8 million, or $0.16 per share, in Q2 2025. Adjusted EBITDA improved to positive $2.9 million.
- Emrosi’s unique prescriber base exceeded 4,500, up more than 40% from approximately 3,200 at the end of 2025. June new prescriptions reached a monthly record of more than 5,300.
- High-quality formulary coverage for Emrosi increased from 34% of commercial lives in Q1 to approximately 38%. Management expects reimbursement progress to support further ASP improvement in the second half of 2026.
- Journey Medical expects to remain EBITDA positive for the rest of 2026 and continues to describe the year as a potential breakout period for revenue growth and profitability.
Key Financial Data
| Metric | Q2 2026 | Q2 2025 | Change / Commentary |
|---|---|---|---|
| Total revenue | $18.5 million | $15.0 million | Up 23% year over year |
| Emrosi net revenue | $8.1 million | — | Main revenue growth driver |
| Gross margin | 67% | 67% | Unchanged year over year |
| SG&A expense | $10.9 million | $11.9 million | Lower due primarily to prior-year Emrosi launch spending |
| GAAP net loss | $0.3 million | $3.8 million | Loss narrowed materially |
| GAAP loss per share | $0.01 | $0.16 | Basic and diluted |
| EBITDA | $1.4 million | $(1.9) million | Turned positive |
| Adjusted EBITDA | $2.9 million | $(0.5) million | Turned positive |
| Cash | $25.6 million | $24.1 million at Dec. 31, 2025 | Increased by $1.5 million |
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