Biofrontera AG

Latest Results (01.09.2026):

Biofrontera AG — Q1 2026: The company reported stronger European sales and improved profitability in the first quarter of 2026. IFRS sales from continued operations were EUR 3,714 thousand, EBITDA from continued operations turned positive at EUR 143 thousand, and total result (continued + discontinued) rose to EUR 2,200 thousand. Cash at quarter-end was EUR 5,638 thousand and the company confirmed its 2026 guidance.

Revenue (IFRS)

Q1 2026 sales (continued operations) totaled EUR 3,714k, up ~13.4% year‑on‑year (Q1 2025: EUR 3,275k). Gross profit was EUR 3,005k, +12.0% versus prior year.

Regional performance

Germany: EUR 2,756k (+11.9% YoY). Rest of Europe: EUR 954k (+19.5% YoY) driven by the UK. UK sales rose to EUR 279k (from EUR 162k), helped by the launch of Ovixan®; Spain was EUR 461k (slight decline).

Profitability

EBITDA (continued operations, IFRS) was positive at EUR 143k (3.85% of revenue) versus an EBITDA loss of EUR 104k in Q1 2025. EBIT from continued operations was EUR 46k and result after tax from continued operations EUR 41k. Pro‑forma (non‑IFRS) figures show higher combined EBITDA (EUR 1,159k) when including discontinued/U.S. items.

Discontinued U.S. operations & earn‑out

Result from discontinued (U.S.) operations improved to EUR 2,159k (Q1 2025: EUR 904k), mainly due to a EUR 1,143k positive financial effect from Biofrontera Inc. share‑price movement and recognition of a EUR 1,010k earn‑out (recorded as other income). U.S. sales were EUR 338k, down 86.4% YoY following the transfer of U.S. activities.

Cash and liquidity

Cash and cash equivalents were EUR 5,638k as of March 31, 2026 (EUR 3,603k at Dec 31, 2025). Management states this provides sufficient liquidity for the next 12 months assuming projected income and expenses.

Guidance

Confirmed 2026 outlook: Group sales EUR 14.0–16.0m; adjusted EBITDA (including US earn‑out) EUR 3.5–5.1m; unadjusted EBITDA EUR -0.5–+0.5m; year‑end cash EUR 4.0–8.0m.

Strategy / management comment

Management attributes improved profitability to the transfer of U.S. activities to Biofrontera Inc., reduced overhead and risk, and sustained European sales growth. The company is focusing on portfolio expansion in Europe to grow its prescription dermatology position midterm.