10-K · July 22, 2026
This is a procedural Form 10-K/A rather than a new operating or financial disclosure: it adds an amended-and-restated bylaws exhibit and makes minor exhibit-index changes only. It contains no financial statements,…
Earnings analysis · 10-Q
BFRI earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
Q2 2026 operating results improved substantially versus both Q1 2026 and Q2 2025: revenue increased to $12.003 million and diluted EPS improved to a $(0.05) loss. The supplied filing text does not disclose gross margin,…
Read full summary
Q2 2026 operating results improved substantially versus both Q1 2026 and Q2 2025: revenue increased to $12.003 million and diluted EPS improved to a $(0.05) loss. The supplied filing text does not disclose gross margin, operating margin, free cash flow, segment results, balance-sheet data, or quantitative guidance, so the broader earnings-quality and liquidity assessment is incomplete. Controls were deemed effective as of June 30, 2026, but the company provided no updated Item 1A risk-factor disclosure.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.05
What stood out
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Revenue rebounded strongly
Q2 2026 revenue was $12.003 million, up approximately 20% from $10 million in Q1 2026 and 33% from $9 million in Q2 2025. Revenue also exceeded the supplied $9.4 million estimate by approximately 27.7%.
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EPS loss narrowed materially
Reported Q2 2026 diluted EPS was $(0.05), improving from $(0.41) in Q1 2026 and $(0.57) in Q2 2025; it was better than the supplied $(0.07) estimate.
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Disclosure controls remain effective
Management concluded that disclosure controls and procedures were effective at the reasonable-assurance level as of June 30, 2026, according to Item 4.
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No material control changes
The filing reports that there were no changes in internal control over financial reporting during the quarter ended June 30, 2026 that materially affected, or were reasonably likely to materially affect, controls.
What to watch
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No updated risk-factor disclosure
The 10-Q does not provide an updated risk-factor discussion: Item 1A states that, as a smaller reporting company, Biofrontera is not required to provide this disclosure. This limits visibility into changes in operating, financing, and market risks since the last full risk assessment.
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Amended incentive plan may dilute equity
Exhibit 10.1 is an amended and restated 2021 Omnibus Incentive Plan. The filing does not provide a share authorization, dilution amount, or compensation expense impact, leaving potential equity-dilution exposure unquantified.
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Legal-contingency exposure unclear
Legal proceedings are referenced in Note 17 under Item 1 of Part II, but the supplied filing excerpt provides no monetary exposure or case-level detail. Potential contingency exposure therefore cannot be quantified from the available text.
Management's outlook
No quantitative revenue or EPS outlook is provided in the supplied 10-Q text. The filing states in Item 1A that, as a smaller reporting company, Biofrontera is not required to provide risk-factor disclosure; no MD&A outlook or liquidity outlook text was supplied.
Earlier filings 4
10-Q · May 14, 2026
Biofrontera reported Q1 2026 results with revenue of $10.1 million, surpassing previous projections, while EPS of -$0.41 fell short of estimates of -$0.08. The company experienced a 17.4% increase in product revenues…
10-K · March 19, 2026
Biofrontera completed a material Strategic Transaction on October 20, 2025 to acquire U.S. rights to Ameluz and the RhodoLED lamps, positioning the company to commercialize PDT more directly in the U.S. The company…
10-Q · November 12, 2025
Biofrontera reported Q3 product revenue of $6,988 (thousands) and GAAP loss per share of $(0.62). Gross margin remained high at ~70.7% but operating loss widened to $(6,278) and the company continues to burn cash,…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.