Journey Medical Corporation (DERM) Stock

Journey Medical Corporation (DERM) is a Healthcare stock trading at $7.75 (as of 2026-08-21), with a market capitalization of $213.21M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Journey Medical Corporation develops and commercializes pharmaceutical products for dermatological conditions in the United States. Its portfolio includes Qbrexza for primary axillary hyperhidrosis, oral therapies such as Accutane, Targadox, and Ximino for acne, and topical Exelderm, along with sales of doxycycline and minocycline oral products and sulconazole nitrate topical products.

Understand Journey Medical Corporation: how it makes money

Journey Medical Corporation develops and commercializes pharmaceutical products for dermatological conditions in the United States, selling prescription dermatology therapies such as Qbrexza, Accutane, Targadox, Ximino, and Exelderm to generate product revenue.

The companys profit model is driven by how well it converts Ambrosie market access and prescriber reach into prescription demand, which then flows into net product revenue.

Business quality (Weak): Gross margin was provided (61.0%), but the operating margin was negative (-9.3%), so investors should focus on whether Ambrosie prescription momentum and payer access continue to translate into improving operating performance.

Bull case

  • Gross profit strength from product sales: For the period ended 2026-03-31, gross margin was 61.0%, indicating the company can generate gross profit on its mix of product revenue.
  • Defined commercial traction metrics for Ambrosie: The company tracks Ambrosie demand and reach, including 30,000 Ambrosie prescriptions and 3,700 unique dermatology prescribers, alongside payer access measures (65.0% of commercial lives).

Bear case

  • Operating losses: For the period ended 2026-03-31, operating margin was -9.3%, showing costs exceeded operating income despite positive gross margin.
  • Potential limits from payer coverage and market access: Ambrosie payer access is not universal, with Covered Commercial Insured Lives with Access to Ambrosie reported as 30.0%, which could cap prescription growth if coverage does not expand.
  • Revenue concentration risk across specific products: The provided revenue and operating metrics heavily reference Ambrosie and certain other products (such as Cubrexa and Accutane), so performance could be pressured if demand shifts away from these branded therapies.
Valuation — source: SEC EDGAR (first-party)
Price$7.75
Market Cap$213.21M
Price / Book6.64
Price / Sales3.13
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$61.86M
Net Margin-18.5%
Revenue Growth (YoY)23.3%
EPS Growth (YoY)-93.8%
Financial Health — source: SEC EDGAR
Altman Z-Score1.10 (distress)
Piotroski F-Score4/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.7
Industry P/E (Pharmaceutical Products)17.0
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock Fund Advisors ($45.12M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEOClaude Maraoui
Employees41
CountryUS
IPO Date2021-11-12

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DERM earnings history · DERM institutional & insider holders · DERM KPIs & operating metrics · DERM financials · DERM investor presentations & press releases · DERM SEC filings · DERM peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.