Journey Medical Corporation ( (DERM) ) has released its Q4 earnings. Here is a breakdown of the information Journey Medical Corporation presented to its investors.
Journey Medical Corporation is a commercial-stage pharmaceutical company specializing in the marketing and sales of FDA-approved dermatological prescription products, headquartered in Scottsdale, Arizona.
In its latest financial report for 2024, Journey Medical Corporation announced a total revenue of $56.1 million, meeting all financial guidance for the year. The company also highlighted the FDA approval and initial distribution of Emrosi™, a new treatment for rosacea, which is expected to significantly impact their future business.
Key financial metrics revealed a decrease in total revenue by 29% compared to 2023, primarily due to reduced product revenue and a significant drop in other revenue. Despite the revenue decline, the company managed to reduce its selling, general, and administrative expenses by 8% and maintained a strong cash position of $20.3 million at the end of the year. The net loss for 2024 was reported at $14.7 million, a notable increase from the previous year, attributed to the absence of one-time revenue from licensing agreements in 2023.
Looking forward, Journey Medical Corporation is optimistic about the potential of Emrosi™ to drive revenue growth and achieve sustainable EBITDA positivity. The company plans to continue expanding its market presence and enhancing its product portfolio to strengthen its position in the dermatological pharmaceutical sector.