Filing Flows › Verrica Pharmaceuticals (VRCA) › Q1 2026 › vs Q4 2025
Verrica Pharmaceuticals (VRCA) Q1 2026 vs Q4 2025 (quarter over quarter)
Verrica Pharmaceuticals's revenue fell $69K (-1%) from $5.1M in Q4 2025 to $5.0M in Q1 2026. The biggest changes: License and collaboration revenue −$637K (-46%); Product revenue, net +$568K (+15%).
Verrica Pharmaceuticals, Q1 2026: revenue $5.0M (+46% year over year), operating margin -193.4%, net loss $9.7M, operating cash flow −$9.2M. The chart draws each line against Q4 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Product revenue, net | $4.3M | $3.7M | $568K | +15% |
| License and collaboration revenue | $733K | $1.4M | −$637K | -46% |
| Revenue | $5.0M | $5.1M | −$69K | -1% |
| Other income, net | $33K | −$882K | $915K | — |
| Net loss | $9.7M | $8.1M | $1.6M | +20% |
| Costs & expenses | $14.7M | $13.2M | $1.6M | +12% |
| Operating costs | $14.7M | $12.3M | $2.5M | +20% |
| Research & development | $3.9M | $2.5M | $1.3M | +53% |
| SG&A | $10.0M | $8.1M | $1.9M | +23% |
| Other operating costs | $889K | $1.6M | −$758K | -46% |
| Operating cash sources | $10.1M | $5.3M | $4.8M | +90% |
| Depreciation | $17K | $14K | $3K | +21% |
| Share-based compensation | $897K | $686K | $211K | +31% |
| Cash used in operations | $9.2M | $4.6M | $4.6M | +100% |
| Net loss absorbed | $9.7M | $8.1M | $1.6M | +20% |
| Working capital & other | $395K | −$2.8M | $3.2M | — |
Questions
How much did Verrica Pharmaceuticals's revenue grow quarter over quarter in Q1 2026?
Verrica Pharmaceuticals's revenue fell $69K (-1%) from $5.1M in Q4 2025 to $5.0M in Q1 2026.
What drove Verrica Pharmaceuticals's revenue change in Q1 2026?
License and collaboration revenue −$637K (-46%); Product revenue, net +$568K (+15%).