What is Verrica Pharmaceuticals's earnings per share (EPS)?

Verrica Pharmaceuticals (VRCA) reported diluted earnings per share of $-1.68 for fiscal year 2025. This represents a 88.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Verrica Pharmaceuticals Financials

VRCA

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Verrica Pharmaceuticals (VRCA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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).

Financial Health Signals

Financial Profile 41/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Verrica Pharmaceuticals has an operating margin of -34.3%, meaning the company retains $-34 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 -871.3% the prior year.

Growth

100

Verrica Pharmaceuticals's revenue surged 370.2% year-over-year to $35.6M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

100

Verrica Pharmaceuticals carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Verrica Pharmaceuticals's current ratio of 2.59 indicates adequate short-term liquidity, earning a score of 49/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Verrica Pharmaceuticals generated -$17.6M in operating cash flow, capex of $0 consumed most of it, leaving -$17.6M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Verrica Pharmaceuticals generates a -72.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.

Piotroski F-Score Neutral

5/9

Verrica Pharmaceuticals passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.99x

For every $1 of reported earnings, Verrica Pharmaceuticals generates $0.99 in operating cash flow (-$17.6M OCF vs -$17.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-1.6x

Verrica Pharmaceuticals earns $-1.6 in operating income for every $1 of interest expense (-$12.2M vs $7.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$35.6M

YoY+370.2%

Verrica Pharmaceuticals generated $35.6M in revenue in fiscal year 2025. This represents an increase of 370.2% from the prior year.

EBITDA

-$11.7M

YoY+82.0%

Verrica Pharmaceuticals's EBITDA was -$11.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 82.0% from the prior year.

Net Income

-$17.9M

YoY+76.6%

Verrica Pharmaceuticals reported -$17.9M in net income in fiscal year 2025. This represents an increase of 76.6% from the prior year.

EPS (Diluted)

$-1.68

YoY+88.6%

Verrica Pharmaceuticals earned $-1.68 per diluted share (EPS) in fiscal year 2025. This represents an increase of 88.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$17.6M

YoY+71.1%

Verrica Pharmaceuticals generated -$17.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 71.1% from the prior year.

Cash & Debt

$30.1M

YoY-34.9%

5Y CAGR+23.1%

Verrica Pharmaceuticals held $30.1M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

17M

YoY+87.2%

Verrica Pharmaceuticals had 17M shares outstanding in fiscal year 2025. This represents an increase of 87.2% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

-34.3%

YoY+837.0pp

Verrica Pharmaceuticals's operating margin was -34.3% in fiscal year 2025, reflecting core business profitability. This is up 837.0 percentage points from the prior year.

Net Margin

-50.3%

YoY+961.9pp

Verrica Pharmaceuticals's net profit margin was -50.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 961.9 percentage points from the prior year.

Return on Equity

-72.3%

5Y CAGR+57.1pp

Verrica Pharmaceuticals's ROE was -72.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending

$8.9M

YoY-25.2%

5Y CAGR-10.8%

Verrica Pharmaceuticals invested $8.9M in research and development in fiscal year 2025. This represents a decrease of 25.2% from the prior year.

Share Buybacks

N/A

Capital Expenditures

YoY-100.0%

Verrica Pharmaceuticals invested $0 in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.

VRCA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$35.6M+370.2%	$7.6M+47.7%	$5.1M-43.3%	$9.0M-24.7%	$12.0M	N/A
Cost of Revenue	N/A	$2.6M+420.0%	$500K	N/A	N/A	N/A
Gross Profit	N/A	$5.0M+7.4%	$4.6M	N/A	N/A	N/A
R&D Expenses	$8.9M-25.2%	$11.8M-41.7%	$20.3M+66.4%	$12.2M-23.4%	$15.9M+1.6%	$15.7M
SG&A Expenses	$35.2M-40.1%	$58.8M+24.3%	$47.3M+171.8%	$17.4M-35.5%	$27.0M+10.1%	$24.5M
Operating Income	-$12.2M+81.5%	-$65.9M-0.2%	-$65.8M-208.8%	-$21.3M+31.1%	-$30.9M+23.1%	-$40.2M
Interest Expense	$7.7M-17.7%	$9.4M+137.6%	$4.0M+82.4%	$2.2M-49.4%	$4.3M+41.6%	$3.0M
Income Tax	$0	$0	$0	$0	N/A	N/A
Net Income	-$17.9M+76.6%	-$76.6M-14.3%	-$67.0M-173.6%	-$24.5M+30.2%	-$35.1M+17.8%	-$42.7M
EPS (Diluted)	$-1.68+88.6%	$-14.78	$-1.48-105.6%	$-0.72+44.6%	$-1.30	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$5.1M-64.5%	$14.3M+12.9%	$12.7M+269.4%	$3.4M+899.7%	$344K	N/A	$5.2M+35.3%	$3.8M
Cost of Revenue	N/A	N/A	N/A	$700K-12.5%	$800K+100.0%	$400K-42.9%	$700K0.0%	$700K
Gross Profit	N/A	N/A	N/A	$2.7M+700.7%	-$456K+79.1%	-$2.2M-148.7%	$4.5M+43.2%	$3.1M
R&D Expenses	$2.5M+14.3%	$2.2M+19.4%	$1.8M-19.2%	$2.3M+95.5%	$1.2M-51.4%	$2.4M-27.5%	$3.3M-32.9%	$4.9M
SG&A Expenses	$8.1M-13.7%	$9.4M+6.2%	$8.9M0.0%	$8.8M-10.4%	$9.9M-38.6%	$16.1M-2.7%	$16.5M+1.1%	$16.3M
Operating Income	-$7.2M-542.0%	$1.6M+7.7%	$1.5M+118.6%	-$8.1M+28.7%	-$11.4M+44.9%	-$20.7M-36.2%	-$15.2M+18.2%	-$18.6M
Interest Expense	$1.3M-37.2%	$2.1M-1.7%	$2.1M-3.3%	$2.2M-6.2%	$2.3M-1.1%	$2.4M+0.3%	$2.4M+2.1%	$2.3M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$8.1M-2846.7%	-$274K-234.3%	$204K+102.1%	-$9.7M+39.9%	-$16.2M+29.1%	-$22.9M-33.0%	-$17.2M+15.5%	-$20.3M
EPS (Diluted)	N/A	$-0.03-250.0%	$0.02+120.0%	$-0.10	N/A	$-4.88-31.9%	$-3.70-740.9%	$-0.44

VRCA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$47.1M-12.9%	$54.1M-33.7%	$81.6M+82.5%	$44.7M-44.2%	$80.1M+8.1%	$74.2M
Current Assets	$42.5M-16.9%	$51.2M-34.0%	$77.5M+98.2%	$39.1M-47.4%	$74.3M+9.9%	$67.7M
Cash & Equivalents	$30.1M-34.9%	$46.3M-33.4%	$69.5M+102.9%	$34.3M+117.6%	$15.8M+47.4%	$10.7M
Inventory	$2.2M-9.2%	$2.5M+141.0%	$1.0M	$0	N/A	N/A
Accounts Receivable	$5.3M+10858.3%	$48K-98.9%	$4.2M	$0	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$22.4M-65.0%	$64.0M+3.5%	$61.8M+1219.0%	$4.7M-90.1%	$47.5M+15.4%	$41.2M
Current Liabilities	$16.4M-43.3%	$29.0M+70.4%	$17.0M+392.2%	$3.5M-92.5%	$46.1M+16.7%	$39.5M
Long-Term Debt	$0-100.0%	$31.0M-27.7%	$42.9M	$0	N/A	N/A
Total Equity	$24.7M+350.9%	-$9.9M-149.9%	$19.8M-50.6%	$40.0M+22.8%	$32.6M-1.2%	$33.0M
Retained Earnings	-$324.9M-5.8%	-$307.0M-33.2%	-$230.4M-41.0%	-$163.5M-17.6%	-$139.0M-33.8%	-$103.9M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$47.1M+15.2%	$40.9M+4.6%	$39.1M-7.3%	$42.2M-22.1%	$54.1M+64.4%	$32.9M-36.7%	$52.0M-21.6%	$66.3M
Current Assets	$42.5M+17.3%	$36.3M-1.4%	$36.8M-6.8%	$39.5M-22.9%	$51.2M+81.6%	$28.2M-40.4%	$47.3M-22.9%	$61.4M
Cash & Equivalents	$30.1M+42.9%	$21.1M+37.0%	$15.4M-48.0%	$29.6M-36.1%	$46.3M+101.8%	$23.0M-28.1%	$31.9M-34.8%	$48.9M
Inventory	$2.2M-3.0%	$2.3M-8.6%	$2.5M+2.6%	$2.5M-0.2%	$2.5M-4.7%	$2.6M-4.4%	$2.7M+8.2%	$2.5M
Accounts Receivable	$5.3M-25.4%	$7.0M-23.3%	$9.2M+64.0%	$5.6M+11581.3%	$48K	$0-100.0%	$10.0M+43.2%	$7.0M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$22.4M-61.4%	$57.9M+2.4%	$56.6M-6.9%	$60.8M-5.1%	$64.0M-4.5%	$67.0M+2.6%	$65.3M+0.8%	$64.8M
Current Liabilities	$16.4M-43.1%	$28.9M-1.1%	$29.2M-0.6%	$29.4M+1.3%	$29.0M+38.0%	$21.0M+4.9%	$20.1M+3.5%	$19.4M
Long-Term Debt	$0-100.0%	$21.6M-12.0%	$24.6M-11.6%	$27.8M-10.2%	$31.0M-28.5%	$43.3M+1.3%	$42.8M-0.2%	$42.8M
Total Equity	$24.7M+245.2%	-$17.0M+2.5%	-$17.5M+5.9%	-$18.6M-88.4%	-$9.9M+71.0%	-$34.1M-156.0%	-$13.3M-982.0%	$1.5M
Retained Earnings	-$324.9M-2.5%	-$316.8M-0.1%	-$316.6M+0.1%	-$316.8M-3.2%	-$307.0M-5.6%	-$290.8M-8.5%	-$268.0M-6.9%	-$250.8M

VRCA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$17.6M+71.1%	-$60.9M-57.9%	-$38.6M-106.8%	-$18.6M+32.4%	-$27.6M+8.7%	-$30.2M
Capital Expenditures	$0-100.0%	$27K-92.5%	$362K+19.9%	$302K-65.8%	$883K-39.9%	$1.5M
Free Cash Flow	-$17.6M+71.1%	-$61.0M-56.5%	-$38.9M-105.5%	-$19.0M+33.4%	-$28.5M+10.1%	-$31.7M
Investing Cash Flow	$0+100.0%	-$19K+94.8%	-$362K-100.7%	$54.0M+5514.9%	-$998K+72.1%	-$3.6M
Financing Cash Flow	$1.4M-96.2%	$37.7M-49.2%	$74.2M+539.9%	-$16.9M-150.1%	$33.6M-4.5%	$35.2M
Dividends Paid	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

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$4.6M-147.4%	$9.7M+196.4%	-$10.0M+20.8%	-$12.7M+21.1%	-$16.1M-87.7%	-$8.6M+47.7%	-$16.4M+18.0%	-$19.9M
Capital Expenditures	$0	$0	N/A	N/A	$0-100.0%	$16K+45.5%	$11K	$0
Free Cash Flow	-$4.6M-147.4%	$9.7M	N/A	N/A	-$16.1M-87.4%	-$8.6M+47.6%	-$16.4M+17.9%	-$19.9M
Investing Cash Flow	$0	$0	N/A	N/A	$8K+150.0%	-$16K-45.5%	-$11K	$0
Financing Cash Flow	$13.6M+442.4%	-$4.0M+4.1%	-$4.2M-2.4%	-$4.1M-110.3%	$39.4M+10031.0%	-$397K+38.0%	-$640K+3.2%	-$661K
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

VRCA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	65.6%-24.6pp	90.2%	N/A	N/A	N/A
Operating Margin	-34.3%+837.0pp	-871.3%+412.1pp	-1283.4%-1047.6pp	-235.8%+21.8pp	-257.6%	N/A
Net Margin	-50.3%+961.9pp	-1012.1%+295.3pp	-1307.5%-1036.4pp	-271.1%+21.2pp	-292.3%	N/A
Return on Equity	-72.3%	N/A	-339.0%-277.8pp	-61.2%+46.4pp	-107.6%+21.8pp	-129.4%
Return on Assets	-38.0%+103.5pp	-141.5%-59.4pp	-82.1%-27.3pp	-54.8%-11.0pp	-43.8%+13.8pp	-57.6%
Current Ratio	2.59+0.8	1.76-2.8	4.55-6.8	11.31+9.7	1.61-0.1	1.71
Debt-to-Equity	0.00+3.1	-3.14-5.3	2.17+2.2	0.00-1.5	1.46+0.2	1.25
FCF Margin	-49.5%+756.1pp	-805.6%-45.7pp	-759.9%-550.1pp	-209.8%+27.4pp	-237.2%	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	79.7%+212.2pp	-132.6%	N/A	86.5%+4.8pp	81.7%
Operating Margin	-141.2%-152.6pp	11.3%-0.6pp	11.9%+248.3pp	-236.4%+3080.4pp	-3316.9%	N/A	-293.7%+192.4pp	-486.1%
Net Margin	-158.6%-156.7pp	-1.9%-3.5pp	1.6%+284.9pp	-283.3%+4426.6pp	-4709.9%	N/A	-332.0%+199.4pp	-531.4%
Return on Equity	-32.6%	N/A	N/A	N/A	N/A	N/A	N/A	-1348.2%
Return on Assets	-17.1%-16.5pp	-0.7%-1.2pp	0.5%+23.6pp	-23.1%+6.8pp	-29.9%+39.5pp	-69.4%-36.4pp	-33.0%-2.4pp	-30.7%
Current Ratio	2.59+1.3	1.250.0	1.26-0.1	1.34-0.4	1.76+0.4	1.34-1.0	2.36-0.8	3.17
Debt-to-Equity	0.00+1.3	-1.27+0.1	-1.41+0.1	-1.50+1.6	-3.14-1.9	-1.27+1.9	-3.21-31.6	28.41
FCF Margin	-90.2%-157.7pp	67.5%	N/A	N/A	-4669.8%	N/A	-316.2%+205.2pp	-521.4%

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Frequently Asked Questions

What is Verrica Pharmaceuticals's annual revenue?

Verrica Pharmaceuticals (VRCA) reported $35.6M in total revenue for fiscal year 2025. This represents a 370.2% 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 Verrica Pharmaceuticals's revenue growing?

Verrica Pharmaceuticals (VRCA) revenue grew by 370.2% year-over-year, from $7.6M to $35.6M in fiscal year 2025.

Is Verrica Pharmaceuticals profitable?

No, Verrica Pharmaceuticals (VRCA) reported a net income of -$17.9M in fiscal year 2025, with a net profit margin of -50.3%.

What is Verrica Pharmaceuticals's EBITDA?

Verrica Pharmaceuticals (VRCA) had EBITDA of -$11.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Verrica Pharmaceuticals have?

As of fiscal year 2025, Verrica Pharmaceuticals (VRCA) had $30.1M in cash and equivalents against $0 in long-term debt.

What is Verrica Pharmaceuticals's operating margin?

Verrica Pharmaceuticals (VRCA) had an operating margin of -34.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Verrica Pharmaceuticals's net profit margin?

Verrica Pharmaceuticals (VRCA) had a net profit margin of -50.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Verrica Pharmaceuticals's return on equity (ROE)?

Verrica Pharmaceuticals (VRCA) has a return on equity of -72.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Verrica Pharmaceuticals's free cash flow?

Verrica Pharmaceuticals (VRCA) generated -$17.6M in free cash flow during fiscal year 2025. This represents a 71.1% 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 Verrica Pharmaceuticals's operating cash flow?

Verrica Pharmaceuticals (VRCA) generated -$17.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Verrica Pharmaceuticals's total assets?

Verrica Pharmaceuticals (VRCA) had $47.1M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Verrica Pharmaceuticals's capital expenditures?

Verrica Pharmaceuticals (VRCA) invested $0 in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Verrica Pharmaceuticals spend on research and development?

Verrica Pharmaceuticals (VRCA) invested $8.9M in research and development during fiscal year 2025.

How many shares does Verrica Pharmaceuticals have outstanding?

Verrica Pharmaceuticals (VRCA) had 17M shares outstanding as of fiscal year 2025.

What is Verrica Pharmaceuticals's current ratio?

Verrica Pharmaceuticals (VRCA) had a current ratio of 2.59 as of fiscal year 2025, which is generally considered healthy.

What is Verrica Pharmaceuticals's debt-to-equity ratio?

Verrica Pharmaceuticals (VRCA) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Verrica Pharmaceuticals's return on assets (ROA)?

Verrica Pharmaceuticals (VRCA) had a return on assets of -38.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Verrica Pharmaceuticals's cash runway?

Based on fiscal year 2025 data, Verrica Pharmaceuticals (VRCA) had $30.1M in cash against an annual operating cash burn of $17.6M. This gives an estimated cash runway of approximately 21 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 Verrica Pharmaceuticals's Piotroski F-Score?

Verrica Pharmaceuticals (VRCA) has a Piotroski F-Score of 5 out of 9, indicating neutral 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Verrica Pharmaceuticals's earnings high quality?

Verrica Pharmaceuticals (VRCA) has an earnings quality ratio of 0.99x, 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.

Can Verrica Pharmaceuticals cover its interest payments?

Verrica Pharmaceuticals (VRCA) has an interest coverage ratio of -1.6x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Verrica Pharmaceuticals?

Verrica Pharmaceuticals (VRCA) scores 41 out of 100 on our Financial Profile, indicating moderate 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.