Journey Medical (DERM) Q2 2026 earnings summary

Executive summary

• Achieved total revenues of $18.5 million in Q2 2026, representing 23% year-over-year growth, driven by strong demand for Emrosi/EMROSI and higher prescription volume, improved payer reimbursement, and increased prescriber adoption.

• Net loss narrowed significantly to $0.3 million from $3.8 million in Q2 2025, reflecting higher revenues and reduced SG&A expenses.

• Positive EBITDA and Adjusted EBITDA reported for Q2 2026, with expectations for 2026 to be a breakout year for both revenue and profitability.

• Emrosi/EMROSI prescriptions grew to 36,000 in Q2, up from 30,000 in Q1, with unique prescribers exceeding 4,500 and prescription demand and payer coverage increasing.

• Cash and cash equivalents increased to $25.6 million as of June 30, 2026.

Financial highlights

• Q2 2026 total revenue was $18.5 million, up from $15 million in Q2 2025, a 23% increase.

• Emrosi/EMROSI generated $8.1 million in net revenue for the quarter.

• Gross margin remained strong at 67%, consistent with the prior year.

• SG&A expenses were $10.9 million, down from $11.9 million in Q2 2025.

• GAAP net loss narrowed to $0.3 million ($0.01 per share), compared to $3.8 million ($0.16 per share) in Q2 2025.

• Positive EBITDA of $1.4 million and adjusted EBITDA of $2.9 million for Q2 2026.

• Cash balance at quarter-end was $25.6 million, up from $24.1 million at year-end 2025.

Outlook and guidance

• Management expects continued strong financial performance, supported by Emrosi/EMROSI momentum and robust cash position.

• Expects continued sequential gains in average selling price (ASP) for Emrosi/EMROSI as payer reimbursement improves.

• Anticipates sustained positive EBITDA and further revenue growth for the remainder of 2026.

• Ongoing expansion of commercial team and product portfolio to support growth.

• Substantial doubt exists about the ability to continue as a going concern for at least twelve months due to recurring losses.