Journey Medical Corporation Reports Full-Year 2025 Financial Results and Recent Corporate Highlights

Total revenues were $61.9 million in FY2025 compared to $56.1 million in FY2024

Emrosi™ generated net revenues of $14.7 million during the full-year period after its launch in early April 2025

Approximately 53,000 total prescriptions were filled for Emrosi™ during FY2025

Payer access for Emrosi™ available to over 100 million U.S. commercial lives

Company to hold conference call today at 4:30 p.m. ET

SCOTTSDALE, Ariz., March 25, 2026 (GLOBE NEWSWIRE) -- Journey Medical Corporation (Nasdaq: DERM) (“Journey Medical,” “the Company,” “we” or “our”), a commercial-stage pharmaceutical company focused on developing, selling and marketing FDA-approved prescription pharmaceutical products for the treatment of dermatological conditions, today announced financial results and recent corporate highlights for the full year ended December 31, 2025.

Claude Maraoui, Journey Medical’s Co-Founder, President and Chief Executive Officer, said, “We delivered a year of meaningful commercial progress, highlighted by the successful launch and rapid uptake of Emrosi™, which is driving solid revenue growth and expanding our presence in medical dermatology. Our financial performance continues to strengthen with rising net product revenues, improving gross margins and expense optimization, supported by disciplined investment in our dermatology focused sales infrastructure. Emrosi™ achieved strong prescription momentum and broader payer access throughout the year, and its differentiated clinical profile further reinforces our confidence in the product’s long-term potential as a key growth driver for our Company. As we look ahead to 2026 and beyond, we remain well-positioned to continue to execute on our strategy, leveraging our commercial platform to drive improving financial performance, and advancing innovative therapies that address important needs for patients with dermatologic conditions, while increasing value for our shareholders.”

2025 Financial Results:

• Revenues totaled $61.9 million for the year ended December 31, 2025, reflecting a 10% increase from $56.1 million reported for the year ended December 31, 2024. The growth was primarily driven by incremental revenue from the launch and commercialization of Emrosi™, partially offset by continued competitive pressures on Accutane®, revenue from which declined by $6.5 million.
• Gross margin(1) improved year over year to 66.2% for the year ended December 31, 2025, up from 62.8% for the year ended December 31, 2024, driven by net revenues from our higher-margin products, Emrosi™ and Qbrexza®, and lower overall inventory period costs.
• Selling, general and administrative (SG&A) expenses were $44.4 million for the year ended December 31, 2025, reflecting a 10% increase compared to $40.2 million for the year ended December 31, 2024. The increase is primarily due to the incremental operational activities related to the launch and commercialization of Emrosi™.
• Net loss was $11.4 million, or $(0.47) per share basic and diluted, for the year ended December 31, 2025, compared to a net loss of $14.7 million, or $(0.72) per share basic and diluted, for the year ended December 31, 2024.
• The Company’s non-GAAP results in the table below reflect Adjusted EBITDA of $2.9 million, or $0.12 per share basic and $0.10 per share diluted for the full year 2025. This compares to Adjusted EBITDA of $0.8 million, or $0.04 per share basic and $0.03 per share diluted for the full year 2024. Adjusted EBITDA, Adjusted EBITDA per share basic and Adjusted EBITDA per share diluted are non-GAAP financial measures, each of which are reconciled to the most directly comparable financial measures calculated in accordance with GAAP below.
• At December 31, 2025, the Company had cash and cash equivalents on hand of approximately $24.1 million as compared to $20.3 million of cash and cash equivalents at December 31, 2024. The Company’s working capital was $29.4 million at December 31, 2025, compared to $13.0 million at December 31, 2024. 

Recent Corporate Highlights:

• In March 2025, Journey Medical announced that full results from two Phase 3 multicenter, randomized, double-blind, parallel-group, active-comparator and placebo-controlled clinical trials, Minocycline Versus Oracea® in Rosacea-1 (“MVOR-1”) and Minocycline Versus Oracea in Rosacea-2 (“MVOR-2”), evaluating Emrosi™, also known as DFD-29, for the treatment of moderate-to-severe papulopustular rosacea in adults, were published in the Journal of the American Medical Association - Dermatology. The results demonstrated the efficacy, safety and tolerability of oral DFD-29 in rosacea. The full publication is available at https://jamanetwork.com/journals/jamadermatology/article-abstract/2830693. Information on such website is not a part of this release.
• At the end of March 2025, Journey Medical announced the distribution of, and the first prescriptions filled for Emrosi™ (40 mg Minocycline Hydrochloride Modified-Release Capsules, comprising 10 mg immediate release and 30 mg extended release pellets), for the treatment of inflammatory lesions of rosacea in adults. The full commercial launch began on April 7, 2025. Emrosi™ was approved by the FDA in November 2024.
• In June 2025, Journey Medical announced that a data analysis from the two Phase 3 multicenter clinical trials evaluating Emrosi™ for the treatment of moderate-to-severe papulopustular rosacea in adults was presented at the Society of Dermatology Physician Associates 2025 Summer Dermatology Conference. The analysis determined that differences in body weight did not affect the efficacy of Emrosi™ in the two Phase 3 trials, which supported its November 2024 FDA approval.
• In July 2025, Journey Medical announced expanded payer access with over 100 million commercial lives in the United States for Emrosi™. This compares to 54 million commercial lives in May 2025.
• In October 2025, efficacy data from a pooled analysis of the two Phase 3 multicenter, randomized, double-blind, parallel-group, active-comparator and placebo-controlled clinical trials, MVOR-1 and MVOR-2, evaluating Emrosi™ for the treatment of inflammatory lesions of rosacea in adults, were presented at the 2025 Fall Clinical Dermatology Conference. Emrosi™ demonstrated superior efficacy in Investigator’s Global Assessment (“IGA”) treatment success rates and inflammatory lesion count reduction versus both placebo and doxycycline (P