Biofrontera, Inc. (BFRI)
NASDAQ:BFRI
Want to see BFRI full AI Analyst Report?
Top Page
Biofrontera
(NASDAQ:BFRI)
Select Model
Select Model
Rating:53Neutral
Price Target:
$1.00
▲(35.14% Upside)
Action:Reiterated
Date:06/23/26
The score is held down primarily by weak financial performance (ongoing losses, cash burn, and reduced equity), partially offset by constructive technical momentum and an earnings-call outlook pointing to improving margins and a path toward cash-flow breakeven with near-term regulatory catalysts. Valuation provides limited support given negative earnings and no indicated dividend.
Positive Factors
High gross margins
Sustained ~80% gross margins signal strong product economics for Ameluz and the RhodoLED ecosystem. High product-level margins provide structural profitability leverage: as volumes grow, incremental revenue can flow to the bottom line, supporting durable margin expansion even if SG&A remains elevated.
Negative Factors
Negative cash flow
Persistently negative operating and free cash flow means the business still relies on external financing or milestone receipts to fund operations. Even with quarter-to-quarter improvement, sustained cash deficits limit strategic optionality and increase dilution or refinancing risk if commercialization slows.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sustained ~80% gross margins signal strong product economics for Ameluz and the RhodoLED ecosystem. High product-level margins provide structural profitability leverage: as volumes grow, incremental revenue can flow to the bottom line, supporting durable margin expansion even if SG&A remains elevated.
Read all positive factors
Biofrontera (BFRI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$12.43M
Dividend YieldN/A
Average Volume (3M)249.99K
Price to Earnings (P/E)―
Beta (1Y)0.89
Revenue Growth13.70%
EPS Growth33.33%
CountryUS
Employees88
SectorHealthcare
Sector Strength45
IndustryMedical - Pharmaceuticals
Share Statistics
EPS (TTM)-1.12
Shares Outstanding12,803,344
10 Day Avg. Volume217,442
30 Day Avg. Volume249,992
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.55
Price to Sales (P/S)0.14
P/FCF Ratio-0.43
Enterprise Value/Market Cap1.12
Enterprise Value/Revenue0.32
Enterprise Value/Gross Profit0.39
Enterprise Value/Ebitda-1.40
Forecast
1Y Price Target
$6.00Price Target Upside710.81% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.18
Revenue Forecast (FY)$46.10M
Biofrontera Business Overview & Revenue Model
Company Description
Biofrontera Inc., a biopharmaceutical company, engages in the commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. It offers Ameluz, BF-RhodoLED, RhodoLED XL lamp series, and RhodoLED La...
How the Company Makes Money
Biofrontera generates revenue primarily by selling dermatology prescription products in the U.S. through its commercial organization. A key revenue stream is product sales associated with its photodynamic therapy-based offering for actinic keratos...
Biofrontera Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 07, 2026
Earnings Call Sentiment Positive
The call highlighted a clear, material improvement in core commercial and financial metrics (17% revenue growth, ~16% unit growth, gross margin expansion to ~80%, near-zero operating cash use) alongside meaningful clinical and regulatory progress (sNDA acceptance for sBCC with a PDUFA in September, positive AK Phase III results, encouraging acne data). These positives are tempered by elevated SG&A and operating expenses, ongoing patent/legal costs and a continued going concern qualification with limited liquidity. On balance the transform-driven revenue and margin gains, near-term regulatory catalysts, and improved cash performance materially outweigh the challenges, supporting a constructive view of the company's trajectory while recognizing remaining execution and financing risks.Positive Updates
Revenue Growth
Product revenues of $10.1 million in Q1 2026, an increase of approximately 17% year-over-year from $8.6 million in Q1 2025.
Negative Updates
Elevated Operating and SG&A Expenses
Total operating expenses increased to $14.4 million vs $13.1 million a year ago; SG&A rose to $11.0 million from $8.7 million, a ~27% increase driven by full deployment of the direct sales team, higher sales activity, legal costs and manufacturing-related costs assumed after the transaction.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth
Product revenues of $10.1 million in Q1 2026, an increase of approximately 17% year-over-year from $8.6 million in Q1 2025.
Read all positive updates
Company Guidance
Management guided that the company is on track for cash‑flow breakeven this year, driven by Q1 product revenues of $10.1M (≈+17% YoY from $8.6M), Ameluz unit volumes of ~29,000 tubes (≈+16% YoY from ~25,000), RhodoLED lamp shipments of ~32 in Q1 and an installed base of ~773 lamps across 709 offices, gross margin expansion to ~80% (vs ~62% prior; targeting 80–85% longer term), cost of revenues down ~40% to $1.8M (from $3.1M), recognition of $1.2M earnout expense under the new 12%/15% earnout tiering (≤$65M/>$65M), cash used in operations near zero at $70K (vs $4.1M a year ago) and cash of $6.3M as of March 31; Q1 adjusted EBITDA improved to -$3.6M (from -$4.4M; adjusted EBITDA margin -35% vs -51%), operating loss was $4.3M (net loss $4.8M, $0.41/share), and near‑term milestones include an sBCC PDUFA on Sept 28, 2026, an AK sNDA planned in Q3 2026 supported by positive Phase III AK data for up to 240 cm², Phase II acne results showing 58% vs 37% inflammatory lesion reduction (Ameluz vs vehicle) with 86% patient satisfaction and planned Phase III discussions in H2 2026; management also noted a $1M Xepi milestone and the potential for a working‑capital facility if needed.Biofrontera Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
34
Negative
Cash Flow
25
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 43.20M | 41.70M | 37.30M | 34.07M | 28.67M | 24.10M |
| Gross Profit | 35.77M | 32.80M | 18.70M | 16.63M | 13.49M | 11.36M |
| EBITDA | -10.00M | -9.19M | -14.44M | -18.45M | 934.00K | -36.76M |
| Net Income | -11.09M | -10.54M | -17.76M | -20.13M | -640.00K | -37.71M |
Balance Sheet | ||||||
| Total Assets | 24.79M | 28.56M | 22.10M | 27.93M | 50.88M | 53.22M |
| Cash, Cash Equivalents and Short-Term Investments | 6.32M | 6.39M | 5.91M | 1.42M | 27.76M | 24.55M |
| Total Debt | 7.72M | 6.16M | 4.92M | 5.40M | 1.35M | 0.00 |
| Total Liabilities | 18.72M | 18.08M | 17.67M | 23.14M | 27.01M | 41.88M |
| Stockholders Equity | 6.07M | 10.48M | 4.43M | 4.79M | 23.88M | 11.34M |
Cash Flow | ||||||
| Free Cash Flow | -9.32M | -13.36M | -10.33M | -24.90M | -16.24M | -26.73M |
| Operating Cash Flow | -9.31M | -13.36M | -10.27M | -24.89M | -16.20M | -26.71M |
| Investing Cash Flow | 3.00M | 3.00M | -3.00K | 619.00K | -5.16M | -11.00K |
| Financing Cash Flow | 10.85M | 10.85M | 14.84M | 8.41M | 14.02M | 43.19M |
Biofrontera Technical Analysis
Negative
0.74
Price Trends
0.99
Negative
0.93
Positive
0.92
Positive
Market Momentum
0.01
Negative
49.18
Neutral
47.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BFRI, the sentiment is Negative. The current price of 0.74 is below the 20-day moving average (MA) of 0.95, below the 50-day MA of 0.99, and below the 200-day MA of 0.92, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 49.18 is Neutral, neither overbought nor oversold. The STOCH value of 47.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BFRI.
Biofrontera Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | $24.42M | 137.01 | 0.27% | ― | 82.13% | ― | |
53 Neutral | $12.43M | -0.87 | -476.72% | ― | 13.70% | 33.33% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
44 Neutral | $4.56M | -0.29 | ― | ― | ― | ― | |
43 Neutral | $10.69M | -0.26 | -63.82% | ― | 29.75% | 37.35% | |
40 Underperform | $949.33K | -0.05 | -157.67% | ― | ― | ― |
* Healthcare Sector Average
BFRI
Biofrontera
0.97
0.37
61.56%
PRPH
Prophase Labs
0.10
-3.57
-97.28%
TXMD
TherapeuticsMD
2.11
0.99
88.39%
RDHL
RedHill Biopharma
0.88
-0.98
-52.80%
COSM
Cosmos Holdings
0.17
-0.25
-59.62%
GELS
Gelteq Limited
0.62
-1.19
-65.75%
Biofrontera Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Biofrontera Shareholders Approve Director Elections and Equity Plan
Positive
Jun 17, 2026
At its Annual Meeting of Stockholders held on June 11, 2026, Biofrontera Inc. shareholders elected Beth J. Hoffman, Ph.D., and Kevin D. Weber as Class II directors to serve until the 2029 annual meeting, reinforcing continuity in the company’...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.