Fortress Biotech, Inc. Q3 2025 Earnings Recap

Journey Medical delivered robust performance in Q3 2025, achieving 21% year-over-year revenue growth, driven primarily by the strong uptake of its new oral treatment, EMROSI.

Key Takeaways

• EMROSI contributed $4.9 million, showing a 75% revenue increase compared to Q2, with total prescriptions growing 146%.
• Despite a 16% year-over-year decline in revenue for legacy products due to Accutane generic competition, overall product revenues grew by more than 16% year-over-year.
• Operating expenses rose only 9%, highlighting effective expense management linked to EMROSI's launch and potential for sustainable EBITDA positivity in Q4.
• Over 2,700 unique prescribers have adopted EMROSI, a 50% increase since the last earnings call, indicating strong market acceptance and growth potential.
• The company has secured access for EMROSI across over 100 million of the 187 million commercial lives, with further GPO contracting expected.