The earnings call highlighted strong revenue growth, successful market expansion into CKD, and improved prescription fill rates for FUROSCIX. However, the company faced challenges with seasonal impacts on revenue, a reduced cash position, and increased gross to net discounts. Overall, positive trends outweigh the negative aspects.

Company Guidance -

Q1 2025

During the scPharmaceuticals First Quarter 2025 Earnings Conference Call, the company provided guidance on several key metrics and strategic initiatives. scPharmaceuticals reported $11.8 million in net revenue for Q1 2025, with approximately 13,800 FUROSCIX doses filled. The company highlighted an increase in doses filled quarter-over-quarter despite typical seasonality factors affecting Q1 revenue. They anticipate a blended gross-to-net discount of approximately 30% over the rest of 2025, driven by Medicare Part D redesign and the Inflation Reduction Act's mandatory manufacturer rebates. scPharmaceuticals has also expanded FUROSCIX's market into chronic kidney disease, seeing accelerated adoption. Additionally, they expect the Autoinjector to significantly reduce COGS by 70% to 75% and enhance FUROSCIX's growth trajectory. The company ended Q1 2025 with $57.5 million in cash, planning for decreased quarterly net cash outflows for the rest of the year as revenues increase. Overall, scPharmaceuticals expressed confidence in FUROSCIX's long-term growth potential, supported by the favorable copay environment for Medicare Part D enrollees and ongoing market expansion efforts.

Significant Revenue Growth

scPharmaceuticals generated $11.8 million in net revenue in Q1 2025, up from $6.1 million in Q1 2024, marking a significant increase in demand for FUROSCIX.

Successful CKD Launch

FUROSCIX was launched in the chronic kidney disease (CKD) market in April 2025, and initial traction with nephrologists is strong, with rapid adoption and prescriptions being written the same day of calls.

Positive Market Expansion

The company is expanding into nephrology with FUROSCIX and is seeing a substantial increase in prescriptions from nephrologists for both CKD and heart failure patients.

Improved Fill Rates

The fill rate for FUROSCIX prescriptions improved to 55% in April 2025, up from 46% in Q1, driven by more Medicare patients reaching their out-of-pocket maximum.

Increased Sales Force Effectiveness

Sales force expansion has led to greater reach and frequency to target prescribers, resulting in increased demand for FUROSCIX.

scPharmaceuticals (SCPH) Earnings, Revenues Date & History

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SCPH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 06, 2025	2025 (Q2)	-0.30 / -	-0.44	―	―	―
May 14, 2025	2025 (Q1)	-0.30 / -0.37	-0.36	-2.78% (-0.01)	―
Mar 19, 2025	2024 (Q4)	-0.38 / -0.35	-0.35	0.00% (0.00)	―
Nov 13, 2024	2024 (Q3)	-0.30 / -0.75	-0.41	-82.93% (-0.34)	―
Aug 14, 2024	2024 (Q2)	-0.42 / -0.44	-0.36	-22.22% (-0.08)	―
May 14, 2024	2024 (Q1)	-0.44 / -0.36	-0.3	-20.00% (-0.06)	―
Mar 13, 2024	2023 (Q4)	-0.42 / -0.35	-0.3	-16.67% (-0.05)	―
Nov 08, 2023	2023 (Q3)	-0.36 / -0.41	-0.37	-10.81% (-0.04)	―
Aug 10, 2023	2023 (Q2)	-0.37 / -0.36	-0.35	-2.86% (-0.01)	―
May 10, 2023	2023 (Q1)	-0.36 / -0.30	-0.28	-7.14% (-0.02)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

SCPH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 14, 2025	$2.24	$2.88	+28.57%
Mar 19, 2025	$3.04	$3.01	-0.99%
Nov 13, 2024	$3.91	$3.36	-14.07%
Aug 14, 2024	$4.79	$5.06	+5.64%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.