Biofrontera AG: BIOFRONTERA REPORTS RESULTS FOR THE FIRST QUARTER OF 2026
Leverkusen (pta002/30.05.2026/00:15 UTC+2)
Leverkusen - Biofrontera AG (ISIN: DE000A4BGGM7), an international biopharmaceutical company, today published its results for the first three months ended March 31, 2026.
Highlights for the 1st Quarter 2026
- Sales revenues in Europe increased by 13.8% compared with Q1 2025
- Positive EBITDA from continued operations, compared with a negative result last year
- Overall result from discontinued operations (US related) improved 138% to EUR 2,159 thousand (last year EUR 904 thousand)
- Total result (continued and discontinued operations) increased by 225% to EUR 2,200 thousand (last year EUR 678 thousand)
- Successful launch of Ovixan® in the UK
Key figures for Q1 2026 in accordance with IFRS
| 01.01.-31.03.2026 | 01.01.-31.03.2025 | |||
| unaudited | In EUR thousands | % of Revenue | In EUR thousands | % of Revenue |
| Results of operations | ||||
| Sales revenue | 3,714 | 100.00 % | 3,274 | 100.00 % |
| 2,756 | 74.21 % | 2,462 | 75.20 % |
| 461 | 12.41 % | 477 | 14.57 % |
| 279 | 7.51 % | 162 | 4.95 % |
| 214 | 5.76 % | 159 | 4.86 % |
| 5 | 0.13 % | 14 | 0.43 % |
| Gross profit on sales | 3,005 | 80.91 % | 2,682 | 81.92 % |
| Result on operations | 10 | 0.27 % | -213 | -6.51 % |
| EBITDA | 143 | 3.85 % | -104 | -3.18 % |
| EBIT | 46 | 1.24 % | -225 | -6.87 % |
| Result before income tax from continued operations | 41 | 1.10 % | -226 | -6.90 % |
| Result before income tax from discontinued operations | 2,159 | 58.13 % | 904 | 27.61 % |
| thereof income tax from continued operations | 0 | 0.00 % | 0 | 0.00 % |
| thereof income tax from discontinued operations | 0 | 0.00 % | 0 | 0.00 % |
| Result after income tax from continued operations | 41 | 1.10 % | -226 | -6.90 % |
| Result after income tax from discontinued operations | 2,159 | 58.13% | 904 | 27.61 % |
| Total result after income tax | 2,200 | 59.24% | 678 | 20.71 % |
Pro-Forma figures (Not IFRS )
| P&L BF Group | 2026 Q1 | 2026 Q1 | 2026 Q1 | 2025 Q1 | 2025 Q1 | 2025 Q1 | |
| total BF | US Business | EU Business | total BF | US Business | EU Business | ||
| in EUR thousands | |||||||
| Revenue | 4,052 | 338 | 3,714 | 5,768 | 2,493 | 3,275 | |
| Cost of Sales | - 1,047 | - 338 | - 709 | - 1,545 | - 952 | - 593 | |
| Gross Profit | 3,005 | - | 3,005 | 4,223 | 1,541 | 2,682 | |
| Regulatory and Development | - 539 | - | - 539 | - 887 | - 333 | - 554 | |
| Sales and Marketing | - 1,513 | - | - 1,513 | - 1,441 | - 16 | - 1,425 | |
| General and Administrative | - 944 | - | - 944 | - 1,093 | - 176 | - 917 | |
| Operating Result | 10 | - | 10 | 803 | 1,016 | - 213 | |
| Other Income | 1,074 | 1,017 | 57 | 90 | 77 | 13 | |
| Other Expense | - 22 | - 1 | - 21 | - 90 | - 65 | - 25 | |
| Depreciation and Amortization | 97 | - | 97 | 208 | 87 | 121 | |
| EBITDA | 1,159 | 1,016 | 143 | 1,011 | 1,115 | - 104 | |
| EBIT | 1,063 | 1,016 | 47 | 803 | 1,028 | - 225 | |
| Expenses from Investments | 1,143 | 1,143 | - 0 | - 124 | - 124 | 0 | |
| Interest Expense | - 6 | - | - 6 | - | - | - | |
| Other Interest | - | - | - | - 1 | - | - 1 | |
| Financial result | 1,137 | 1,143 | - 6 | - 125 | - 124 | - 1 | |
| Profit before Tax | 2,200 | 2,159 | 41 | 678 | 904 | - 226 |
" We continued to deliver sustained and robust sales growth in Europe during the quarter, achieving overall growth in this market of almost 14%, reaching EUR 3,709 thousand (last year EUR 3,260). Following the transfer of all activities and assets related to the U.S. market to Biofrontera Inc., Biofrontera AG improved both its adjusted EBITDA (including continued and discontinued operations) and overall result during the period compared with the prior year. Despite the overall decline in revenues due to the reduction in income generated in the U.S., the positive impact of the lower overhead structure transferred to Biofrontera Inc., together with the sustained sales growth in Europe, has significantly improved the Company's profitability, resulting in a notable increase in earnings. The optimization of our corporate structure following the agreement with Biofrontera Inc. is already delivering tangible results," commented Mrs. Pilar de la Huerta, CFO of Biofrontera AG. "Having stabilized our financial position and significantly reduced the risks associated with the U.S. market, the Company is now focused on its portfolio expansion strategy in Europe, with the objective of becoming a leading European player in the prescription dermatology sector in the midterm," concluded de la Huerta.
As explained in the 2025 annual report, due to IFRS reporting rules, all sales and expenses related to the assets and liabilities transferred to Biofrontera Inc. in 2025 must be considered apart as result of discontinued operations. This net result is included in a line before the final result. To make the numbers comparable, we have restructured Q1 2025 P&L with the same criteria. As a consequence, group sales are only considering the sales in Europe and other markets, but not related to the US. To make the whole situation more understandable, we have created pro-forma figures, showing the global P&L not under IFRS, with the split of US (non-continued) and non US (continued) operations.
With IFRS approach, Biofrontera Group generated total sales of EUR 3,714 thousand in the first quarter of 2026, an increase of 13.4% compared to the previous year (EUR 3,275 thousand sales of continued operations).
In Germany, sales increased by 11.9% year-on-year to EUR 2,756 thousand (previous year: EUR 2,462 thousand) and total sales in the rest of Europe increased by 19.5% to a total of EUR 954 thousand (previous year: EUR 798 thousand) driven by significant increases in the UK business, partially because of the launch of Ovixan®, and by increase business with our license partners.
In the U.S., the Company generated sales revenue of EUR 338 thousand through its former U.S. licensee from discontinued operations, compared to EUR 2,493 thousand in the prior year, representing a decrease of 86.4%.
During Q1 2026, the Biofrontera Group recognized an earn-out of EUR 1,010 thousand related to the sale of assets to Biofrontera Inc. In the corresponding period of the previous year, only EUR 77 thousand was recognized as other income from discontinued operations. Earn-out payments are classified as "other income" under all applicable accounting standards and are therefore not included in sales revenue, whether under IFRS or non-IFRS reporting.
Gross profit increased by 12.0% and amounted to EUR 3,005 thousand in 2026 compared to EUR 2,682 thousand in the prior year period.
The EBITDA from discontinued operations (U.S.-related; see table above) in the prior year remains broadly comparable to the current period, showing only a modest decline of 8.9%. Management believes that the substantial reduction in operational and liability-related risks achieved through the transaction with Biofrontera Inc. more than compensates for this limited decrease in net EBITDA contribution.
The overall result from discontinued operations (U.S.-related) improved to EUR 2,159 thousand, compared with EUR 904 thousand in the prior-year period. This improvement was primarily driven by the increase in Biofrontera Inc.'s share price during Q1 2026 relative to its closing price at the end of the previous year, resulting in a positive financial impact of EUR 1,143 thousand from discontinued operations in Q1 2026, compared with a negative impact of EUR 124 thousand in Q1 2025.
The global result before taxes (continued and discontinued operations) improved from EUR 678 thousand in Q1 2025 to EUR 2,200 in the same period of 2026.
Cash and cash equivalents in the Group as of March 31, 2026 amounted to EUR 5,638 thousand compared to EUR 3,603 thousand as at December 31, 2025. From today's perspective, Biofrontera AG has sufficient liquidity to implement the Group strategy over the next 12 months assuming expenses and income develop as projected.
Guidance
In March 2026, the Company issued a forecast for the fiscal year 2026, that was confirmed in the 2025 annual report and has now been confirmed again.
Forecast of key performance relevant to management (we keep the forecast published in March 2026)
| Key Figure | Forecast 2026 |
| Group sales revenue | 14.0 Mio to 16.0 Mio EUR |
| EBITDA adjusted (considering US earn-out) | 3.5 Mio to 5.1 Mio EUR |
| EBITDA unadjusted | -0.5 Mio to +0.5 Mio EUR |
| Cash and cash equivalents at 31. December 2026 | 4.0 Mio to 8.0 Mio EUR |
About Biofrontera:
Biofrontera AG is a biopharmaceutical company founded in 1997 that specializes in the development and distribution of dermatological drugs. The Germany-based company develops and markets innovative products for the treatment of skin conditions.
The company's lead product is Ameluz®, a topical prescription drug used in photodynamic therapy for certain superficial skin cancers and their precursors. Ameluz® has been marketed in the EU since 2012.
Biofrontera is one of the first German biopharmaceutical companies to receive centralized European approval as well as UK approval for a drug developed in-house.
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| Emitter: |
Biofrontera AG Hemmelrather Weg 201 51377 Leverkusen Germany |
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|---|---|---|
| Contact Person: | Investor Relations | |
| Phone: | +49 (0) 214 87 63 20 | |
| E-Mail: | ir@biofrontera.com | |
| Website: | www.biofrontera.com | |
| ISIN(s): | DE000A4BGGM7 (Share) | |
| Stock Exchange(s): | Regulated Market in Dusseldorf, Frankfurt; Free Market in Munich, Stuttgart, Tradegate BSX |