• Total Revenue (Q4 2024): $12.6 million, an increase of 18.5% from Q4 2023.
• Total Revenue (Full Year 2024): $37.3 million, up 9.5% from 2023.
• Operating Expenses (Q4 2024): $14.3 million, compared to $14.5 million in Q4 2023.
• Operating Expenses (Full Year 2024): $54.5 million, down from $56.7 million in 2023.
• Cost of Revenues (Q4 2024): $5.3 million, compared to $5.4 million in Q4 2023.
• Cost of Revenues (Full Year 2024): $18.6 million, up from $17.4 million in 2023.
• 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.
• 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.
• Adjusted EBITDA (Q4 2024): $1.4 million, compared to negative $3.2 million in Q4 2023.
• Adjusted EBITDA (Full Year 2024): Negative $15.3 million, compared to negative $19.5 million in 2023.
• Cash and Cash Equivalents (End of 2024): $5.9 million, up from $1.3 million at the end of 2023.
• Inventory (End of 2024): $6.6 million, down from $10.9 million at the end of 2023.
• Net Cash Provided by Financing Activities (2024): $14.8 million.

• Warning! GuruFocus has detected 2 Warning Signs with BFRI.

Release Date: March 21, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• 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.
• The company successfully placed 100 XL lamps between June 2024 and the end of the year, enhancing their photodynamic therapy (PDT) offerings.
• FDA approval was obtained to use up to 3 tubes of Ameluz per treatment, expanding treatment capabilities for actinic keratosis.
• Significant results were achieved in a phase 3 study for Ameluz's photodynamic therapy in treating superficial basal cell carcinoma.
• 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

• 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.
• The company's adjusted EBITDA for the full year 2024 was negative $15.3 million, though improved from negative $19.5 million in 2023.
• Operating expenses remained high at $54.5 million for 2024, although slightly reduced from $56.7 million in 2023.
• The net loss for the full year 2024 was $17.8 million, indicating ongoing financial challenges.
• Biofrontera Inc (NASDAQ:BFRI) faces uncertainties and risks associated with its business, as highlighted by management's caution on forward-looking statements.

Q & A Highlights

Q: What was the 4Q24 Ameluz unit growth year over year? A: Eugene Frederick Leffler, Chief Financial Officer, stated that the Ameluz unit growth was approximately 2%.

Q: Was there any sales force addition or attrition over 2024? A: Eugene Frederick Leffler, Chief Financial Officer, confirmed that the number of salespeople held approximately constant.

Q: What's the ACE enrollment number, and are you still comfortable with the data timing? A: Hermann Luebbert, CEO, mentioned that the enrollment number is 116, and they may conclude the study a bit earlier, which should keep the data timing safe.

Q: How will the more advantageous transfer pricing impact gross margins in 2025? A: Eugene Frederick Leffler, Chief Financial Officer, explained that the transfer price of 25% through 2025 will positively impact gross margins, as seen in Q4 2024.

Q: What was the percentage of the price increase in the fourth quarter, and did it affect forward buying? A: Eugene Frederick Leffler, Chief Financial Officer, stated there was a 5% price increase, and some customers did a bit of a buy-in before the price increase, reflected in Q3.

Q: Will SG&A and R&D expenses continue to trend down in 2025? A: Eugene Frederick Leffler, Chief Financial Officer, expects SG&A to hold steady, while Hermann Luebbert, CEO, mentioned R&D expenses will remain stable compared to recent months.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.