Verrica Pharmaceuticals Financials
Verrica Pharmaceuticals (VRCA) reported $35.6M in revenue for fiscal year 2025, up 370.2% from the prior fiscal year. This page shows its 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).
FY2025 shows a commercial step-change where higher revenue finally absorbed much of Verrica’s fixed cost base.
Between FY2024 and FY2025, revenue jumped from$7.6M to$35.6M , a scale change large enough to absorb much more of the company’s overhead. At the same time, operating cash burn narrowed to-$17.6M from-$60.9M , so losses were still real but far less dependent on outside capital.
FY2025 free cash flow matched operating cash flow at
Liquidity improved even as cash fell to
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Verrica Pharmaceuticals'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.
Verrica Pharmaceuticals scores -6.85, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($83.5M) relative to total liabilities ($22.4M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Verrica Pharmaceuticals passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
Verrica Pharmaceuticals reported a net loss of $17.9M while operations used $17.6M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Verrica Pharmaceuticals reported an operating loss of $12.2M against $7.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Verrica Pharmaceuticals generated $35.6M in revenue in fiscal year 2025. This represents an increase of 370.2% from the prior year.
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.
Verrica Pharmaceuticals reported -$17.9M in net income in fiscal year 2025. This represents an increase of 76.6% from the prior year.
Verrica Pharmaceuticals earned -$1.68 per diluted share (EPS) in fiscal year 2025.
Cash & Balance Sheet
Verrica Pharmaceuticals recorded an outflow of $17.6M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 71.1% from the prior year.
Verrica Pharmaceuticals held $30.1M in cash against $0 in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Verrica Pharmaceuticals's operating margin was -34.3% in fiscal year 2025, reflecting core business profitability. No change is given against fiscal year 2024: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Verrica Pharmaceuticals's net profit margin was -50.3% in fiscal year 2025, showing the share of revenue converted to profit. No change is given against fiscal year 2024: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Verrica Pharmaceuticals's ROE was -72.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Not reported for fiscal year 2025.
Capital Allocation
Verrica Pharmaceuticals invested $8.9M in research and development in fiscal year 2025. This represents a decrease of 25.2% from the prior year.
Verrica Pharmaceuticals reported no capital expenditure in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Not reported for fiscal year 2025.
VRCA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $30.3M | $35.6M+370.2% | $7.6M+47.7% | $5.1M-43.3% | $9.0M-24.7% | $12.0M | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | $2.6M+420.0% | $500K | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | $5.0M+7.4% | $4.6M | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $14.6M | $8.9M-25.2% | $11.8M-41.7% | $20.3M+66.4% | $12.2M-23.4% | $15.9M+1.6% | $15.7M+1.5% | $15.4M+20.3% | $12.8M+243.9% | $3.7M |
| SG&A Expenses | $37.9M | $35.2M-40.1% | $58.8M+24.3% | $47.3M+171.8% | $17.4M-35.5% | $27.0M+10.1% | $24.5M+67.4% | $14.6M+61.8% | $9.1M+1145.1% | $727K |
| Operating Income | -$28.4M | -$12.2M+81.5% | -$65.9M-0.2% | -$65.8M-208.8% | -$21.3M+31.1% | -$30.9M+23.1% | -$40.2M-33.6% | -$30.1M-37.5% | -$21.9M-390.9% | -$4.5M |
| Interest Expense | $3.7M | $7.7M-17.7% | $9.4M+137.6% | $4.0M+82.4% | $2.2M-49.4% | $4.3M+41.6% | $3.0M | N/A | N/A | N/A |
| Income Tax | N/A | $0 | $0 | $0 | $0 | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$31.2M | -$17.9M+76.6% | -$76.6M-14.3% | -$67.0M-173.6% | -$24.5M+30.2% | -$35.1M+17.8% | -$42.7M-51.4% | -$28.2M-36.6% | -$20.6M-363.1% | -$4.5M |
| EPS (Diluted) | — | -$1.68 | -$14.78 | -$1.48-105.6% | -$0.72+44.6% | -$1.30 | N/A | N/A | N/A | N/A |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
VRCA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $47.1M-12.9% | $54.1M-33.7% | $81.6M+82.5% | $44.7M-44.2% | $80.1M+8.1% | $74.2M+8.4% | $68.4M-25.6% | $91.9M+911.8% | $9.1M |
| Current Assets | $42.5M-16.9% | $51.2M-34.0% | $77.5M+98.2% | $39.1M-47.4% | $74.3M+9.9% | $67.7M+4.1% | $65.0M-28.7% | $91.2M+903.5% | $9.1M |
| Cash & Equivalents | $30.1M-34.9% | $46.3M-33.4% | $69.5M+102.9% | $34.3M+117.6% | $15.8M+47.4% | $10.7M+15.6% | $9.2M-10.0% | $10.3M+18.6% | $8.7M |
| Inventory | $2.2M-9.2% | $2.5M+141.0% | $1.0M | $0 | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $5.3M+10858.3% | $48K-98.9% | $4.2M | $0 | 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+1107.6% | $3.4M+37.6% | $2.5M-84.6% | $16.1M |
| Current Liabilities | $16.4M-43.3% | $29.0M+70.4% | $17.0M+392.2% | $3.5M-92.5% | $46.1M+16.7% | $39.5M+1078.0% | $3.4M+35.3% | $2.5M+302.1% | $616K |
| Long-Term Debt | $0-100.0% | $31.0M-27.7% | $42.9M | $0 | N/A | N/A | N/A | 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-49.3% | $65.0M-27.3% | $89.4M+1370.1% | -$7.0M |
| Retained Earnings | -$324.9M-5.8% | -$307.0M-33.2% | -$230.4M-41.0% | -$163.5M-17.6% | -$139.0M-33.8% | -$103.9M-69.8% | -$61.2M-85.0% | -$33.1M-166.0% | -$12.4M |
Not reported in any period shown, so not listed: Goodwill.
VRCA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$13.3M | -$17.6M+71.1% | -$60.9M-57.9% | -$38.6M-106.8% | -$18.6M+32.4% | -$27.6M+8.7% | -$30.2M-10.2% | -$27.4M-53.3% | -$17.9M-290.0% | -$4.6M |
| Capital Expenditures | N/A | $0-100.0% | $27K-92.5% | $362K+19.9% | $302K-65.8% | $883K-39.9% | $1.5M+115.5% | $682K-11.9% | $774K | N/A |
| Free Cash Flow | N/A | -$17.6M+71.1% | -$61.0M-56.5% | -$38.9M-105.5% | -$19.0M+33.4% | -$28.5M+10.1% | -$31.7M-12.8% | -$28.1M-50.6% | -$18.6M | N/A |
| Investing Cash Flow | $0 | $0+100.0% | -$19K+94.8% | -$362K-100.7% | $54.0M+5514.9% | -$998K+72.1% | -$3.6M-113.8% | $26.0M+132.5% | -$79.9M | N/A |
| Financing Cash Flow | $9.4M | $1.4M-96.2% | $37.7M-49.2% | $74.2M+539.9% | -$16.9M-150.1% | $33.6M-4.5% | $35.2M+8229.1% | $423K-99.6% | $99.4M+681.3% | $12.7M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
VRCA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | 65.6%-24.6pp | 90.2% | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -34.3% | -871.3% | -1283.4% | -235.8% | -257.6% | N/A | N/A | N/A | N/A |
| Net Margin | -50.3% | -1012.4% | -1307.6% | -271.1% | -292.3% | N/A | N/A | N/A | N/A |
| Return on Equity | -72.3% | N/A | -339.0%-277.9pp | -61.2%+46.4pp | -107.6%+21.8pp | -129.4%-86.0pp | -43.4%-20.3pp | -23.1% | N/A |
| Return on Assets | -38.0%+103.5pp | -141.5%-59.4pp | -82.1%-27.4pp | -54.8%-11.0pp | -43.8%+13.8pp | -57.6%-16.3pp | -41.2%-18.8pp | -22.5%+26.6pp | -49.1% |
| Current Ratio | 2.59+0.8x | 1.76-2.8x | 4.55-6.8x | 11.31+9.7x | 1.61-0.1x | 1.71-17.7x | 19.39-17.4x | 36.80+22.1x | 14.75 |
| Debt-to-Equity | 0.00 | N/A | 2.17+2.2x | 0.00-1.5x | 1.46+0.2x | 1.25+1.2x | 0.050.0x | 0.03 | N/A |
| FCF Margin | -49.5% | -805.6% | -759.9% | -209.8% | -237.2% | N/A | N/A | N/A | N/A |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Verrica Pharmaceuticals Ranks
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) recorded an outflow of $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) recorded an outflow of $17.6M in operating cash flow during fiscal year 2025, representing cash used by 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) reported no capital expenditure during fiscal year 2025.
How much does Verrica Pharmaceuticals spend on research and development?
Verrica Pharmaceuticals (VRCA) invested $8.9M in research and development during 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 Altman Z-Score?
Verrica Pharmaceuticals (VRCA) has an Altman Z-Score of -6.85, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Verrica Pharmaceuticals's Piotroski F-Score?
Verrica Pharmaceuticals (VRCA) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Verrica Pharmaceuticals's earnings high quality?
Verrica Pharmaceuticals (VRCA) reported a net loss of $17.9M while operations used $17.6M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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) reported an operating loss of $12.2M against $7.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 73 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.