BFRI · Biofrontera Inc.

Biofrontera Inc. reported Q1 2026 revenue of $10.1 million, up 17.4% from $8.6 million in the prior year quarter. This growth was primarily attributable to higher Ameluz net sales, reflecting increased unit volume as well as the full period impact of a price increase implemented in Q4 2025. The primary factors determining product revenue include sales force orders, prescriptions and institutional demand, unit sales, and average sales price. Investors should note this momentum stems from effective sales expansion efforts, positioning the company to leverage demand for its dermatology products.

Net income was -$4.8 million, compared to -$4.2 million last year, with diluted EPS at -$0.41 versus -$0.47, a 12.8% improvement. The wider net loss reflects challenges like patent remediation, which is expected to cause a modest recurring per-unit cost increase for affected products as remediated units are produced and sold. Management took control of Ameluz clinical trials effective June 1, 2024, enabling more effective cost management and trial oversight, contributing to R&D efficiencies.

Cash flow from operations marked a sharp inflection to -$70 thousand from -$4.1 million, with free cash flow at -$75 thousand after $5 thousand in capital expenditures. This improvement underscores better working capital management and cost discipline, reducing cash burn and supporting near-term liquidity amid sales investments.

Overall, these results highlight progress toward operational leverage through Ameluz-driven revenue gains and cost controls, though profitability remains pressured by commercial expansion and remediation costs. Management continues monitoring supply chain and pricing impacts, with focus on sales growth to sustain momentum.