$DERM Journey Medical Corp | Understand Stock

What Do They Do?

Markets FDA-approved prescription medicines for skin conditions through specialty pharmacies, wholesalers and distributors.

How Do They Make Money?

Specialty pharmacies, wholesalers and distributors buy prescription products, with sales tied to customers receiving the goods. Journey also supplies Amzeeq to Cutia and earns royalties tied to Cutia’s sales.

revenue

Segment	Share	How money arrives
Emrosi Sold outright	24%	Sold outright
Qbrexza Sold outright	41%	Sold outright
Accutane Sold outright	21%	Sold outright
Foam franchise products (Amzeeq & Zilxi) Sold outright	9.6%	Sold outright
Other / legacy Sold outright	4.5%	Sold outright

Who Are Their Customers?

Journey sells mainly to specialty pharmacies, independent wholesalers and distributors, with limited sales through traditional national wholesalers. Wholesalers and distributors supply retail drug chains, independent pharmacies and managed-care organizations.

Do Revenues Turn Into Profits?

No. It lost $11.4M in FY2025.

Operating income, FY2025

−13% of revenue

▼ −40% (Loss) vs FY2024 (−$13.7M, −24%)

Net income, FY2025

−18% of revenue

▼ −22% (Loss) vs FY2024 (−$14.7M, −26%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +23%; vs $15M in Q2 FY2025
Net income: ▼ −92% (Loss); vs −$3.8M in Q2 FY2025

Qbrexza share of product revenue, net vs 46.3% in Q2 FY2025

Flat. Revenue was $61.9M in FY2025, about the same as the $63.1M of FY2021.

Rosacea product launch The older report described a rosacea candidate in clinical development; the latest describes Emrosi as approved and being promoted for sale.

Revenue over time

Emrosi Qbrexza Accutane Foam franchise products (Amzeeq & Zilxi) Other / legacy Ximino Other branded products Exelderm Qbrexa Targadox Zilxi Amzeeq

$100M$50M$0

FY2021 FY2023 FY2024 FY2025