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Verrica Pharmaceuticals (VRCA) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 6, 2026 · Verrica Pharmaceuticals (VRCA) Q2 2026 earnings results →

Q2 2026 Revenue down 54% year over year to $5.9M · 224¢ of every $1 of revenue lost · operating margin -223.4%

Verrica Pharmaceuticals made $5.9M in Q2 2026 (-54% Y/Y). Operating margin -223.4%, net loss $13.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 6, 2026.

Revenue$5.9M
Year over year-54%
Operating margin-223.4%
Net earnings−$13.2M
Operating cash flow−$9.3M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $5.9M in Q2 2026, down 54% year over year and up 17% from the previous quarter.

Operating costs exceeded revenue by $13.1M, an operating margin of -223.4%. Total costs grew 69% against a revenue fall of 54%. The fastest-growing cost line was Other operating costs (+421%). The quarter ended with a net loss of $13.2M, wider than the previous quarter's $9.7M loss.

Operating cash flow was −$9.3M. Non-cash charges added back $15K of depreciation and $1.2M of share-based compensation. Working capital and other items added $2.6M.

Quarterly history

Verrica Pharmaceuticals revenue by quarterVerrica Pharmaceuticals revenue by quarter$344KQ4 2024$3.4MQ1 2025$12.7MQ2 2025$14.3MQ3 2025$5.1MQ4 2025$5.0MQ1 2026$5.9MQ2 2026
Verrica Pharmaceuticals net earnings by quarterVerrica Pharmaceuticals net earnings by quarter−$16.2MQ4 2024−$9.7MQ1 2025$204KQ2 2025−$274KQ3 2025−$8.1MQ4 2025−$9.7MQ1 2026−$13.2MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 6, 2026$5.9M-54%-223.4%−$13.2M−$9.3M
Q1 202610-QMay 12, 2026$5.0M+46%-193.4%−$9.7M−$9.2M
Q4 202510-KMar 11, 2026$5.1M15×-141.2%−$8.1M−$4.6M
Q3 202510-QNov 14, 2025$14.3M—11.3%−$274K$9.7M
Q2 202510-QAug 12, 2025$12.7M+145%11.9%$204K−$10.0M
Q1 202510-QMay 13, 2025$3.4M-10%-236.4%−$9.7M−$12.7M
Q4 202410-KMar 11, 2025$344K-83%n/m−$16.2M−$16.1M

Charts

Verrica Pharmaceuticals: revenue growth, year over year and quarter over quarterVerrica Pharmaceuticals: revenue growth, year over year and quarter over quarterY/YQ/Q-83%Q4 2024-10%+400%Q1 2025+145%+269%Q2 2025+13%Q3 2025+400%-65%Q4 2025+46%-1%Q1 2026-54%+17%Q2 2026
Latest (Q2 2026): Y/Y -54%, Q/Q +17%.
Verrica Pharmaceuticals: where the cash came from (+) and went (−), TTM to Q2 2026Verrica Pharmaceuticals: where the cash came from (+) and went (−), TTM to Q2 2026Operating cash flow−$13.3MOther financing$9.8MCash drawn (+) / kept (−)$3.9MNet borrowing (+) / repaid (−)−$437K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Verrica Pharmaceuticals: profit against cash, quarter by quarterVerrica Pharmaceuticals: profit against cash, quarter by quarterNet incomeOperating cash flow−$22.9M−$8.6MQ3 2024−$16.2M−$16.1MQ4 2024−$9.7M−$12.7MQ1 2025$204K−$10.0MQ2 2025−$274K$9.7MQ3 2025−$8.1M−$4.6MQ4 2025−$9.7M−$9.2MQ1 2026−$13.2M−$9.3MQ2 2026
Latest (Q2 2026): Net income −$13.2M, Operating cash flow −$9.3M.
Verrica Pharmaceuticals: diluted shares by fiscal year (split-adjusted)Verrica Pharmaceuticals: diluted shares by fiscal year (split-adjusted)50MFY202054MFY202168MFY202291MFY202310MFY202411MFY2025
-78.7% since FY2020: buybacks shrank the count; earlier years scaled for the 2-for-1 split before FY2025.
Verrica Pharmaceuticals: long-term debt falling due (FY2024)Verrica Pharmaceuticals: long-term debt falling due (FY2024)$15.7M2025$15.3M2026$15.0M2027$8.8M2028
Cash $46.3M, short-term investments —, long-term debt $31.0M at 2024-12-31.
Verrica Pharmaceuticals in its industry: growth against margin (225 companies, SIC 2834)Verrica Pharmaceuticals in its industry: growth against margin (225 companies, SIC 2834)revenue growth, year over year →↑ operating marginmedian +11%median -50%JNJLLYMRKABBVPFEBMYABTREGNTEVAVTRSVRTXBHCZTSONCOGNALNYELANJAZZBMRNPRGOAMRXUTHRRPRXNRIXINSMKeenova Therapeutics plcALKSMDGLPAHCSRPTPTCTINDVBBIOACADCORTPBHANIPKNSAPTGXHRMYIONSAXSMTGTXSUPNTVTXCOLLVREOFAMPHMIRMPCRXRARELQDAARQTIRWDARDXNATRXNCREBSZLABXERSINVACRMDMNKDRYTMURGNPHATAUPHSNDXRIGLLGNDEOLSARWRPGENHROWVNDAOPKSDGRGERNETONAGIOPBYITNGXCYRXCYTKMRVIORGONUVBLFVNSIGAKROSAMRNZVRASPRYHRTXAKBABCYCKPTIGYREMGNXELTPSEPNVRDNLFCRCrinetics Pharmaceuticals, Inc.VSTMKURATBPHLABADCTNAMSFBIOXLODERMARCTRMTIAYTUFHTXENTATNXPOCULASMBWVEAPMDBFRIABEOSTOKLXRXCAPRIDYANKTRZOMDFINBPJANXSBFMGOSSETSTRCUSCPIXLIFDCUEAQSTPRAXWHWKVERUEMMAGENBCELUQUREZYMEEQABCLIMNMKYNBAKTSRNACVSICNTBTRAWISCOEVFMTVRDLPCNCAMPAtaiBeckley Inc.CTMXALMSPMHSACRSVTGNROIVKRROJAGXENSCKRSAABUSPRPHSTTKCPHITRDATXMDGOVXNWBOBIOEUPBIRDOVIDSPRBXBIOPRTAMCRBARVNMNOVSLNIGCBIOALGVNDNTHCPMDSPRORFLCOYASCYXBFRGSXTPBTAIQHCWBSERYARWRNACRGBPAVTXCLNNNTHIHINDAAGHALTONCOCRVOSKVIBOLTBDPTLYELIBOPULMVRCA (-54%, -100%)
Pharmaceutical Preparations; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Verrica Pharmaceuticals

We are a therapeutics company developing and commercializing medications for the treatment of dermatologic diseases, including skin cancers. Currently, our commercial product and portfolio of product candidates are clinician administered therapies in areas of high unmet need. This product portfolio consists of one product with an approved indication for molluscum contagiosum, or molluscum, with the potential for several follow-on indications, as well as additional pipeline product candidates. Our commercial product, YCANTH (VP-102), was approved by the U.S. Food and Drug Administration, or FDA, in July 2023 for the treatment of molluscum in adult and pediatric patients two years of age and older. YCANTH (VP-102) is a proprietary drug-device combination that contains a GMP-controlled formulation of cantharidin.

In its own words, from its 10-K, filed Mar 11, 2026.

Verrica Pharmaceuticals against its Pharmaceutical Preparations peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -54% against the peers' median +7%. Operating margin: -223.4% against the peers' median 20.4%.

CompanyQuarterRevenueY/YOp. margin
VRCA Verrica PharmaceuticalsQ2 2026$5.9M-54%-223.4%
JNJ Johnson & JohnsonQ3 2026$25.4B+6%0.1%
LLY ELI LillyQ3 2026$24.4B+39%34.5%
MRK MerckQ3 2026$18.1B+5%30.7%
ABBV AbbVieQ3 2026$17.4B+10%36.0%
PFE PfizerQ3 2026$16.6B-0.4%20.4%
BMY Bristol Myers SquibbQ3 2026$13.1B+7%19.4%
ABT Abbott LaboratoriesQ3 2026$13.0B+14%10.4%
REGN Regeneron PharmaceuticalsQ3 2026$5.1B+36%40.0%

Source: Verrica Pharmaceuticals 10-Q on SEC EDGAR · CIK 1660334 · Pharmaceutical Preparations

13F: who owns VRCA and who is buying

Largest holders of VRCA (13F)Largest holders of VRCA (13F)Caligan Partners LP$5.7MCannell Capital LLC$4.8MAffinity Asset Advisors, LLC$4.3MVelan Capital Investment Manageme…$2.9MArmistice Capital, LLC$2.6MBoothbay Fund Management, LLC$1.7MVanguard Capital Management LLC$1.7MMariner, LLC$1.3MVanguard Group$1.1MGeode Capital Management, LLC$846K
Funds' net buying of VRCA by quarter (13F)Funds' net buying of VRCA by quarter (13F)$66K2025-06$10.1M2025-09$20.3M2025-12−$2.7M2026-03−$782K2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on VRCA

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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