Biofrontera Financials
This page shows Biofrontera (BFRIW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Sales growth is finally covering more of the cost base, but the business still depends on fresh capital to fund operations.
Over the last two valid years, operating margin moved from-66.6% to-27.2% , showing that higher sales are covering more fixed overhead. Yet FY2025 operating cash flow was-$13.4M against a net loss of-$10.5M , so the improvement has not turned into self-funded operations.
The balance sheet repair came mostly from financing rather than retained profits: debt-to-equity fell from 4.8x to 1.7x even as accumulated deficits deepened. With liabilities near
This is not a capex-hungry model: FY2025 capital spending was only
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Biofrontera's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Biofrontera has an operating margin of -27.2%, meaning the company retains $-27 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -46.1% the prior year.
Biofrontera's revenue grew 11.7% year-over-year to $41.7M, a solid pace of expansion. This earns a growth score of 51/100.
Biofrontera carries a low D/E ratio of 1.73, meaning only $1.73 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 67/100, indicating a strong balance sheet with room for future borrowing.
Biofrontera's current ratio of 1.52 is below the typical benchmark, resulting in a score of 26/100. However, the company holds substantial cash reserves (54% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.
While Biofrontera generated -$13.4M in operating cash flow, capex of $2K consumed most of it, leaving -$13.4M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Biofrontera generates a -100.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -400.6% the prior year.
Biofrontera passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Biofrontera generates $1.27 in operating cash flow (-$13.4M OCF vs -$10.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Biofrontera generated $41.7M in revenue in fiscal year 2025. This represents an increase of 11.7% from the prior year.
Biofrontera's EBITDA was -$11.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 33.2% from the prior year.
Biofrontera reported -$10.5M in net income in fiscal year 2025. This represents an increase of 40.7% from the prior year.
Biofrontera earned $-1.04 per diluted share (EPS) in fiscal year 2025. This represents an increase of 67.7% from the prior year.
Cash & Balance Sheet
Biofrontera generated -$13.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 30.0% from the prior year.
Biofrontera held $6.4M in cash against $0 in long-term debt as of fiscal year 2025.
Biofrontera had 12M shares outstanding in fiscal year 2025. This represents an increase of 31.3% from the prior year.
Margins & Returns
Biofrontera's operating margin was -27.2% in fiscal year 2025, reflecting core business profitability. This is up 18.9 percentage points from the prior year.
Biofrontera's net profit margin was -25.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 22.3 percentage points from the prior year.
Biofrontera's ROE was -100.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 300.1 percentage points from the prior year.
Capital Allocation
Biofrontera invested $3.7M in research and development in fiscal year 2025. This represents an increase of 78.0% from the prior year.
Biofrontera invested $2K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 80.0% from the prior year.
BFRIW Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $10.1M-41.0% | $17.1M+144.7% | $7.0M-22.6% | $9.0M+5.1% | $8.6M-31.6% | $12.6M+39.3% | $9.0M+15.0% | $7.8M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $900K+14.2% | $788K-7.7% | $854K-1.8% | $870K-27.9% | $1.2M+54.3% | $782K+16.9% | $669K+7.7% | $621K |
| SG&A Expenses | $11.0M+29.0% | $8.5M-15.2% | $10.0M-4.6% | $10.5M+21.7% | $8.7M+5.5% | $8.2M-2.6% | $8.4M+6.4% | $7.9M |
| Operating Income | -$4.3M-194.8% | $4.6M+172.6% | -$6.3M-23.6% | -$5.1M-11.7% | -$4.5M-165.6% | -$1.7M+65.5% | -$5.0M+2.2% | -$5.1M |
| Interest Expense | N/A | N/A | N/A | N/A | $120K | N/A | N/A | $620K |
| Income Tax | N/A | -$1K-116.7% | $6K-71.4% | $21K+2200.0% | -$1K+50.0% | -$2K-166.7% | $3K-85.0% | $20K |
| Net Income | -$4.8M-184.3% | $5.6M+184.8% | -$6.6M-24.9% | -$5.3M-26.7% | -$4.2M-201.1% | -$1.4M+75.4% | -$5.7M-2105.8% | -$257K |
| EPS (Diluted) | $-0.41 | N/A | $-0.62-8.8% | $-0.57-21.3% | $-0.47 | N/A | $-0.98-1860.0% | $-0.05 |
BFRIW Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $24.8M-13.2% | $28.6M+85.3% | $15.4M-23.5% | $20.1M+21.4% | $16.6M-24.9% | $22.1M+19.4% | $18.5M-14.2% | $21.6M |
| Current Assets | $13.2M-27.2% | $18.1M+25.5% | $14.4M-23.4% | $18.8M+22.7% | $15.3M-25.9% | $20.7M+22.3% | $16.9M-3.1% | $17.5M |
| Cash & Equivalents | $6.3M-1.2% | $6.4M+87.1% | $3.4M-52.8% | $7.2M+305.5% | $1.8M-69.8% | $5.9M+105.5% | $2.9M-34.4% | $4.4M |
| Inventory | $1.2M-13.7% | $1.4M-67.1% | $4.3M+7.5% | $4.0M-38.3% | $6.5M-1.8% | $6.6M+1.8% | $6.5M+65.4% | $3.9M |
| Accounts Receivable | $3.9M-46.8% | $7.3M+143.4% | $3.0M-24.3% | $4.0M-1.9% | $4.0M-24.2% | $5.3M+9.0% | $4.9M+39.1% | $3.5M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $18.7M+3.5% | $18.1M+0.5% | $18.0M-27.5% | $24.8M+53.9% | $16.1M-8.8% | $17.7M+36.1% | $13.0M+21.8% | $10.7M |
| Current Liabilities | $10.9M-8.2% | $11.9M-5.2% | $12.6M-36.2% | $19.7M+79.6% | $11.0M-8.8% | $12.0M+9.0% | $11.0M+19.0% | $9.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $6.1M-42.1% | $10.5M+506.0% | -$2.6M+44.7% | -$4.7M-1095.3% | $469K-89.4% | $4.4M-19.8% | $5.5M-49.3% | $10.9M |
| Retained Earnings | -$132.7M-3.7% | -$127.9M+4.2% | -$133.6M-5.2% | -$126.9M-4.4% | -$121.6M-3.6% | -$117.4M-1.2% | -$116.0M-5.1% | -$110.3M |
BFRIW Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$70K+97.1% | -$2.4M+37.8% | -$3.8M-25.6% | -$3.0M+26.0% | -$4.1M-304.8% | -$1.0M+15.8% | -$1.2M+74.4% | -$4.7M |
| Capital Expenditures | $5K+600.0% | -$1K0.0% | -$1K-200.0% | $1K-66.7% | $3K+200.0% | $1K | $0+100.0% | -$48K |
| Free Cash Flow | -$75K+96.8% | -$2.4M+37.8% | -$3.8M-25.5% | -$3.0M+26.1% | -$4.1M-304.7% | -$1.0M+15.7% | -$1.2M+74.7% | -$4.8M |
| Investing Cash Flow | -$5K-100.2% | $3.0M+300000.0% | $1K+200.0% | -$1K+66.7% | -$3K-200.0% | -$1K | $0 | N/A |
| Financing Cash Flow | N/A | $2.4M | $0 | N/A | N/A | $4.0M+1459.1% | -$298K-105.6% | $5.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
BFRIW Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -42.8%-69.5pp | 26.6%+116.5pp | -89.8%-33.6pp | -56.3%-3.3pp | -52.9%-39.3pp | -13.6%+41.4pp | -55.0%+9.7pp | -64.7% |
| Net Margin | -47.1%-80.1pp | 33.0%+128.1pp | -95.2%-36.2pp | -59.0%-10.0pp | -48.9%-37.8pp | -11.1%+51.8pp | -62.9%-59.6pp | -3.3% |
| Return on Equity | -78.3%-132.1pp | 53.8% | N/A | N/A | -896.2%-864.7pp | -31.5%+71.0pp | -102.5%-100.1pp | -2.4% |
| Return on Assets | -19.2%-38.9pp | 19.8%+62.9pp | -43.1%-16.7pp | -26.4%-1.1pp | -25.3%-19.0pp | -6.3%+24.3pp | -30.6%-29.4pp | -1.2% |
| Current Ratio | 1.20-0.3 | 1.52+0.4 | 1.15+0.2 | 0.96-0.4 | 1.40-0.3 | 1.72+0.2 | 1.53-0.4 | 1.89 |
| Debt-to-Equity | 3.08+1.4 | 1.73+8.7 | -6.97-1.7 | -5.31-39.7 | 34.37+30.4 | 3.99+1.6 | 2.35+1.4 | 0.98 |
| FCF Margin | -0.7%+13.2pp | -13.9%+40.8pp | -54.7%-21.0pp | -33.7%+14.2pp | -48.0%-39.9pp | -8.1%+5.3pp | -13.4%+47.4pp | -60.8% |
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Frequently Asked Questions
What is Biofrontera's annual revenue?
Biofrontera (BFRIW) reported $41.7M in total revenue for fiscal year 2025. This represents a 11.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Biofrontera's revenue growing?
Biofrontera (BFRIW) revenue grew by 11.7% year-over-year, from $37.3M to $41.7M in fiscal year 2025.
Is Biofrontera profitable?
No, Biofrontera (BFRIW) reported a net income of -$10.5M in fiscal year 2025, with a net profit margin of -25.3%.
What is Biofrontera's EBITDA?
Biofrontera (BFRIW) had EBITDA of -$11.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Biofrontera's operating margin?
Biofrontera (BFRIW) had an operating margin of -27.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Biofrontera's net profit margin?
Biofrontera (BFRIW) had a net profit margin of -25.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Biofrontera's return on equity (ROE)?
Biofrontera (BFRIW) has a return on equity of -100.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Biofrontera's free cash flow?
Biofrontera (BFRIW) generated -$13.4M in free cash flow during fiscal year 2025. This represents a -30.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Biofrontera's operating cash flow?
Biofrontera (BFRIW) generated -$13.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Biofrontera's total assets?
Biofrontera (BFRIW) had $28.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Biofrontera's capital expenditures?
Biofrontera (BFRIW) invested $2K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Biofrontera spend on research and development?
Biofrontera (BFRIW) invested $3.7M in research and development during fiscal year 2025.
What is Biofrontera's current ratio?
Biofrontera (BFRIW) had a current ratio of 1.52 as of fiscal year 2025, which is generally considered healthy.
What is Biofrontera's debt-to-equity ratio?
Biofrontera (BFRIW) had a debt-to-equity ratio of 1.73 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Biofrontera's return on assets (ROA)?
Biofrontera (BFRIW) had a return on assets of -36.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Biofrontera's cash runway?
Based on fiscal year 2025 data, Biofrontera (BFRIW) had $6.4M in cash against an annual operating cash burn of $13.4M. This gives an estimated cash runway of approximately 6 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Biofrontera's Piotroski F-Score?
Biofrontera (BFRIW) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Biofrontera's earnings high quality?
Biofrontera (BFRIW) has an earnings quality ratio of 1.27x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Biofrontera?
Biofrontera (BFRIW) scores 24 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.