VRCA

MKT CAP:$73M

Verrica Pharmaceuticals Inc.

Market Cap

$73M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$6.47-$1.83 (-22.05%)

Apr 21, 2026

Company Details

Verrica Pharmaceuticals Inc., a dermatology therapeutics company, develops and commercializes treatments for people with skin diseases in the United States. The company's lead product candidate includes VP-102 for the treatment of molluscum...

CEO

Jayson Rieger

IPO Date

Jun 15, 2018

Website

www.verrica.com

Key Metrics TTM

Revenue

$36M

+370.2% YoY

Net Income

-$18M

EPS (Diluted)

-$1.68

Free Cash Flow

-$18M

Revenue / Share

$3.34

Gross Margin

93.8%

Operating Margin

-33.6%

Net Margin

-50.3%

FCF Margin

-49.5%

P/S

2.1x

P/E

—

Earnings Reports

Q1 2026

May 12, 2026

PENDING

FY 2025

Mar 11, 2026

$36M+370.2%EPS -$1.68

Q4 2025

Mar 11, 2026

$5M+1380.2%EPS -$0.64

Q3 2025

Nov 14, 2025

$14M+905.4%EPS -$0.03

Q2 2025

Aug 12, 2025

$13M+145.4%EPS $0.02

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$431.0K	$153.0K	-$7M
Q2 22	$214.0K	-$5.0K	-$9M
Q3 22	$8M	$8M	$1M
Q4 22	$68.0K	-$3M	-$6M
Q1 23	$37.0K	-$31.0K	-$7M
Q2 23	$182.0K	$46.0K	-$12M
Q3 23	$3M	$3M	-$24M
Q4 23	$2M	-$19M	-$23M
Q1 24	$4M	$3M	-$19M
Q2 24	$5M	$5M	-$15M
Q3 24	-$2M	-$2M	-$21M
Q4 24	$344.0K	-$281.0K	-$11M
Q1 25	$3M	$3M	-$8M
Q2 25	$13M	$12M	$2M
Q3 25	$14M	$13M	$2M
Q4 25	$5M	$5M	-$7M

Valuation

Quarter	P/S	P/E
Q1 22	530.6x	—
Q2 22	93.0x	—
Q3 22	13.7x	—
Q4 22	20.7x	—
Q1 23	36.1x	—
Q2 23	32.1x	—
Q3 23	58.0x	—
Q4 23	57.3x	—
Q1 24	30.9x	—
Q2 24	26.8x	—
Q3 24	10.6x	—
Q4 24	6.2x	—
Q1 25	5.8x	—
Q2 25	3.4x	—
Q3 25	1.3x	—
Q4 25	2.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$8M	-$8M
Q2 22	-$7M	-$7M
Q3 22	$2M	$2M
Q4 22	-$5M	-$5M
Q1 23	-$5M	-$5M
Q2 23	-$5M	-$5M
Q3 23	-$15M	-$15M
Q4 23	-$15M	-$15M
Q1 24	-$20M	-$20M
Q2 24	-$16M	-$16M
Q3 24	-$9M	-$9M
Q4 24	-$16M	-$16M
Q1 25	-$13M	-$13M
Q2 25	-$10M	-$10M
Q3 25	$10M	$10M
Q4 25	-$5M	-$5M

Capital Expenditures

Quarter	CapEx
Q1 22	$5.0K
Q2 22	$154.0K
Q3 22	$77.0K
Q4 22	$66.0K
Q1 23	$11.0K
Q2 23	$59.0K
Q3 23	$65.0K
Q4 23	$227.0K
Q1 24	$0
Q2 24	$11.0K
Q3 24	$16.0K
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$0
Q4 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-96.4%	-34.3%
Q2 22	—	-13.0%
Q3 22	—	-41.6%
Q4 22	—	-25.9%
Q1 23	-91.4%	-9.1%
Q2 23	-15.0%	+26.4%
Q3 23	-64.9%	+290.5%
Q4 23	+2823.5%	+300.1%
Q1 24	+10240.5%	+214.7%
Q2 24	+2744.5%	+72.8%
Q3 24	-161.1%	-29.5%
Q4 24	-82.7%	-53.2%
Q1 25	-10.1%	-48.4%
Q2 25	+145.4%	-45.1%
Q3 25	+905.4%	-32.8%
Q4 25	+1380.2%	+2.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$1M	305.3%
Q2 22	$1M	507.0%
Q3 22	$1M	17.0%
Q4 22	$1M	1722.1%
Q1 23	$1M	2956.8%
Q2 23	$2M	848.4%
Q3 23	$10M	331.3%
Q4 23	$2M	104.4%
Q1 24	$2M	54.2%
Q2 24	$2M	43.0%
Q3 24	$2M	—
Q4 24	$756.0K	219.8%
Q1 25	$1M	29.8%
Q2 25	$888.0K	7.0%
Q3 25	$718.0K	5.0%
Q4 25	$686.0K	13.5%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$2M	$5M	—	—
Q2 22	$4M	$5M	—	—
Q3 22	$3M	$4M	—	—
Q4 22	$3M	$14M	—	—
Q1 23	$3M	$4M	—	—
Q2 23	$6M	$6M	—	—
Q3 23	$7M	$20M	—	—
Q4 23	$5M	$17M	$3.5K	—
Q1 24	$5M	$15M	$2M	—
Q2 24	$3M	$15M	$1M	—
Q3 24	$2M	$15M	$1M	—
Q4 24	$1M	$6M	$4M	—
Q1 25	$2M	$9M	$300.0K	—
Q2 25	$2M	—	—	$9M
Q3 25	$2M	—	—	$9M
Q4 25	$3M	—	—	$8M

Revenue Segments

Quarter	Collaboration	Product	License And Collaboration Revenue
Q3 23	$125.0K	$3M	—
Q1 24	$594.0K	$3M	—
Q2 24	$285.0K	$5M	—
Q3 24	$84.0K	-$2M	—
Q4 24	$29.0K	$315.0K	—
Q1 25	$17.0K	$3M	—
Q2 25	—	$5M	$8M
Q3 25	—	$4M	$11M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$10M	$11M	$22M
Q2 22	$5M	$9M	$14M
Q3 22	$32M	$7M	$39M
Q4 22	$34M	$0	$34M
Q1 23	$60M	$0	$60M
Q2 23	$55M	$0	$55M
Q3 23	$84M	$0	$84M
Q4 23	$70M	$0	$70M
Q1 24	$49M	$0	$49M
Q2 24	$32M	$0	$32M
Q3 24	$23M	$0	$23M
Q4 24	$46M	$0	$46M
Q1 25	$30M	$0	$30M
Q2 25	$15M	$0	$15M
Q3 25	$21M	$0	$21M
Q4 25	$30M	$0	$30M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	3M	0.0%	+7.5%
Q2 22	3M	0.0%	+0.0%
Q3 22	4M	+62.3%	+62.3%
Q4 22	4M	-8.0%	+49.3%
Q1 23	4M	+4.7%	+56.3%
Q2 23	5M	+6.7%	+66.9%
Q3 23	5M	+0.3%	+3.2%
Q4 23	5M	+0.5%	+12.7%
Q1 24	5M	+0.4%	+8.0%
Q2 24	5M	+0.0%	+1.3%
Q3 24	5M	+0.7%	+1.6%
Q4 24	7M	+43.8%	+45.4%
Q1 25	9M	+40.9%	+104.0%
Q2 25	9M	+0.1%	+104.1%
Q3 25	9M	-0.0%	+102.8%
Q4 25	11M	+12.2%	+58.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$11.3K	38
Q2 22	$5.6K	38
Q3 22	$218.9K	38
Q4 22	$3.1K	22
Q1 23	$1.7K	22
Q2 23	$8.3K	22
Q3 23	$132.6K	22
Q4 23	$19.9K	100
Q1 24	$38.3K	100
Q2 24	$51.8K	100
Q3 24	-$17.8K	100
Q4 24	$4.8K	71
Q1 25	$48.4K	71
Q2 25	$178.9K	71
Q3 25	$202.0K	71
Q4 25	$67.0K	76

Revenue / Employee