Journey Medical reports Q3 2023 net income of $16.8M vs loss a year ago; revenue up 114% YoY to $34.5M

Journey Medical Corp

2023-Q3 EPS reported -$0.09 revenue$63,924,000

GAAP net income $16.8M ($0.80 diluted) vs GAAP net loss $10.1M in Q3 2022.
Total net revenue $34.5M, +114% YoY, including $19.0M upfront from Maruho license for Qbrexza in Asia.
Adjusted EBITDA $20.8M ($0.99 diluted) vs -$4.0M in Q3 2022.
Cost reduction to cut annual SG&A >$17M, surpassing prior $12M target; Q3 SG&A fell 45% to $8.6M.
DFD-29 NDA for rosacea expected to be submitted to FDA around year-end 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Journey Medical Corp reported third quarter ended September 30, 2023 results: revenue $34.5 million, net income $16.8 million, or $0.91 per share basic and $0.80 per share diluted, EPS $0.91 per share basic and $0.80 per share diluted.

Period: third quarter ended September 30, 2023
Revenue: $34.5 million
Net income: $16.8 million, or $0.91 per share basic and $0.80 per share diluted
EPS: $0.91 per share basic and $0.80 per share diluted
Result: reported results

Exact text from the filing

Journey Medical Corporation Reports Third Quarter 2023 Financial Results and Recent Corporate Highlights Company generated total net revenues of $34.5 million in the third quarter of 2023, a 101% increase from $17.2 million in the second quarter of 2023 GAAP net income increased to $16.8 million, or $0.91 per share basic and $0.80 per share diluted, for the third quarter of 2023

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Source: SEC EDGAR

accession 0001104659-23-115285

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