In This Article:
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Total Revenue (Q4 2024): $12.6 million, an increase of 18.5% from Q4 2023.
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Total Revenue (Full Year 2024): $37.3 million, up 9.5% from 2023.
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Operating Expenses (Q4 2024): $14.3 million, compared to $14.5 million in Q4 2023.
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Operating Expenses (Full Year 2024): $54.5 million, down from $56.7 million in 2023.
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Cost of Revenues (Q4 2024): $5.3 million, compared to $5.4 million in Q4 2023.
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Cost of Revenues (Full Year 2024): $18.6 million, up from $17.4 million in 2023.
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Net Loss (Q4 2024): $1.4 million or $0.19 per share, compared to net income of $3.5 million or $1.65 per share in Q4 2023.
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Net Loss (Full Year 2024): $17.8 million or $3.22 per diluted share, compared to $20.1 million or $13.02 per share in 2023.
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Adjusted EBITDA (Q4 2024): $1.4 million, compared to negative $3.2 million in Q4 2023.
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Adjusted EBITDA (Full Year 2024): Negative $15.3 million, compared to negative $19.5 million in 2023.
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Cash and Cash Equivalents (End of 2024): $5.9 million, up from $1.3 million at the end of 2023.
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Inventory (End of 2024): $6.6 million, down from $10.9 million at the end of 2023.
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Net Cash Provided by Financing Activities (2024): $14.8 million.
Release Date: March 21, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Biofrontera Inc (NASDAQ:BFRI) achieved record sales of $37.3 million in 2024, marking an annual sales growth of 18.5% for Q4 and nearly 10% for the entire year.
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The company successfully placed 100 XL lamps between June 2024 and the end of the year, enhancing their photodynamic therapy (PDT) offerings.
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FDA approval was obtained to use up to 3 tubes of Ameluz per treatment, expanding treatment capabilities for actinic keratosis.
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Significant results were achieved in a phase 3 study for Ameluz's photodynamic therapy in treating superficial basal cell carcinoma.
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Biofrontera Inc (NASDAQ:BFRI) renegotiated agreements with its former parent company, reducing the transfer price of Ameluz from 50% to 25%, positively impacting cost of goods sold.
Negative Points
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Despite record sales, Biofrontera Inc (NASDAQ:BFRI) reported a net loss of $1.4 million for Q4 2024, compared to a net income of $3.5 million in the prior year quarter.
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The company's adjusted EBITDA for the full year 2024 was negative $15.3 million, though improved from negative $19.5 million in 2023.
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Operating expenses remained high at $54.5 million for 2024, although slightly reduced from $56.7 million in 2023.
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The net loss for the full year 2024 was $17.8 million, indicating ongoing financial challenges.
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Biofrontera Inc (NASDAQ:BFRI) faces uncertainties and risks associated with its business, as highlighted by management's caution on forward-looking statements.