Biofrontera Q2 revenue up 31% to $5.8M, net loss widens to $9.8M; cash $4.5M

Biofrontera Inc.

2023-Q2 EPS reported -$12.73 revenue$14,580,000

Revenue $5.8M (+31% YoY); net loss $9.8M ($7.23/share) vs $0.9M loss in Q2 2022.
Cash $4.5M, down from $17.2M at Dec 31, 2022; equity investment in Biofrontera AG $5.9M.
Founder Hermann Luebbert named CEO, continues as Executive Chairman.
Affirms FY 2023 revenue growth at least 25%; expects cash flow positive within ~1.5 years.

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 0.9

Biofrontera Inc. reported the six months ended June 30, 2023 results: revenue $14.6 million, net income $17.3 million, EPS $(12.73) per share. Guidance reaffirmed.

Period: the six months ended June 30, 2023
Revenue: $14.6 million
Net income: $17.3 million
EPS: $(12.73) per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

interest income and expense, income taxes, depreciation and amortization, and certain other non-recurring or non-cash items. Six Month Financial Results Total revenues were $14.6 million for the first half of 2023 compared with $14.2 million for the first half of 2022. The increase was primarily driven by a higher volume of Ameluz sales due to the sales team

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Biofrontera Inc. reported the three months ended June 30, 2023 results: revenue $5.8 million, net income $9.8 million, EPS $(7.23) per share. Guidance reaffirmed.

Period: the three months ended June 30, 2023
Revenue: $5.8 million
Net income: $9.8 million
EPS: $(7.23) per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

and six months ended June 30, 2023 and provided a business update. Highlights from the second quarter of 2023 and subsequent weeks included the following: ● Total revenues were $5.8 million, an increase of 31% from the comparable prior-year period ● Cash and cash equivalents were $4.5 million as of June 30, 2023, compared with $17.2 million as of December 31, 2022

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Biofrontera Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-027724

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