Journey Medical Corp 2026年季度报告

FORM10-Q(Mark one) QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 ☒ For the quarterly period ended March 31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-41063 JOURNEY MEDICAL CORPORATION(Exact name of registrant as specified in its charter) Delaware47-1879539(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) 9237 E Via de Ventura Blvd., Suite105, Scottsdale, AZ 85258(Address of principal executive offices and zip code) (480) 434-6670(Registrant’s telephone number, including area code) Securities registered pursuant to Section12(b)of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file suchreports), and (2)has been subject to such filing requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically, if any, every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorterperiod that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” “smallerreporting company” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large Accelerated Filer☐Non-accelerated Filer☒Emerging growth company☒ Accelerated Filer☐Smaller Reporting Company☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date. JOURNEY MEDICAL CORPORATIONQuarterly Report on Form10-Q TABLE OF CONTENTS PARTI.FINANCIAL INFORMATIONItem1.Condensed Consolidated Financial Statements (unaudited)1Item2.Management’s Discussion and Analysis of Financial Condition and Results of Operations18Item3.Quantitative and Qualitative Disclosures About Market Risk24Item4.Controls and Procedures24 PARTII.OTHER INFORMATIONItem1.Legal Proceedings25Item1A.Risk Factors25Item2.Unregistered Sales of Equity Securities and Use of Proceeds25Item3.Defaults Upon Senior Securities25Item4.Mine Safety Disclosures25Item5.Other Information25Item6.Exhibits26 PARTI.FINANCIAL INFORMATION JOURNEY MEDICAL CORPORATIONUnaudited Condensed Consolidated Balance Sheets(Dollars in thousands except for share and per share amounts) JOURNEY MEDICAL CORPORATIONUnaudited Condensed Consolidated Statements of Operations(Dollars in thousands except for share and per share amounts) JOURNEY MEDICAL CORPORATIONUnaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity(Dollars in thousands except for share and per share amounts) JOURNEY MEDICAL CORPORATIONUnaudited Condensed Consolidated Statements of Cash Flows(Dollars in thousands except for share and per share amounts) Three-Month Periods EndedMarch31,20262025Cash flows from operating activitiesNet loss$(2,230)$(4,073)Adjustments to reconcile net loss to net cash used in operating activities:Bad debt expense30195Amortization of debt discount96101Amortization of acquired intangible assets1,1261,065Amortization of operating lease right-of-use assets2321Share-based compensation9891,323Changes in operating assets and liabilities:Accounts receivable4,761(7,989)Inventory3321,935Prepaid expenses and other current assets(88)817Accounts payable(649)(1,646)Due to related party17(129)Accrued expenses(1,465)5,586Accrued interest(8)(23)Income tax payable—(1)Lease liabilities(25)(14)Net cash provided by (used in) operating activities2,909(2,832) JOURNEY MEDICAL CORPORATIONNotesto Unaudited Condensed Consolidated Financial Statements NOTE1. ORGANIZATION AND PLAN OF BUSINESS OPERATIONS Journey Medical Corporation (“Journey” or the “Company”) is a commercial-stage pharmaceutical company thatprimarily focuses on the selling and marketing of U.S. Food and Drug Administration (“FDA”) approved prescriptionpharmaceutical products for the treatment of dermatological conditions. The Company’s current product portfolioincludes eight FDA-approved prescription drugs for dermatological conditions that are marketed in the U.S. TheCompany acquires rights to products and product