Journey Medical Corporation

Ladies and gentlemen, thank you for standing by. Good afternoon and welcome to Journeys Medical's second quarter 2026 financial results and corporate update conference call. At this time, all participants are in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. Participants of this call are advised that the audio of this conference call is being broadcast live over the internet and is also being recorded for playback purposes. A webcast replay of this call will be available approximately one hour after the end of the call for approximately 30 days. I would now like to turn the call over to Jaclyn Jaffe, the company's Senior Director of Corporate Operations. Please go ahead, Jaclyn.

Good afternoon, and thank you for participating in today's conference call. Joining me from Journey Medical's leadership team are Claude Maraoui, co-founder, president, and chief executive officer, Joseph Benesch, chief financial officer, and Ramsey Alloush, chief operating officer and general counsel, who will participate in the Q&A portion of the call. During this call, management will be making forward-looking statements, including statements that address, among other things, Journey Medical's expectations for future performance, operational results, financial condition, and the receipt of regulatory approvals. Forward-looking statements involve risks and other factors that may cause actual results to differ materially from those statements. For information about these risks, please refer to the risk factors described in Journey Medical's most recently filed periodic reports on Form 10-K and Form 10-Q. The Form 8-K filed with the SEC today and accompanies press release that accompanies this call, particularly the cautionary statements in it. Today's conference call includes non-GAAP financial measures that Journey Medical believes can be useful in evaluating its performance. You should not consider this additional information in isolation or as a substitute for results prepared in accordance with GAAP. For reconciliation of this non-GAAP financial measure, To net loss, its most directly comparable gap financial measure, please see the reconciliation table located in the company's earnings press release. The content of this call contains time-sensitive information that is accurate only as of today, Wednesday, August 12, 2026. Except as required by law, Journey Medical disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call. It is now my pleasure to turn the call over to Claude Maraoui, co-founder, president, and chief executive officer of Journey Medical.

Thank you, Jaclyn, and good afternoon to everyone on the call today. We continued to make solid progress in our business in the second quarter as we delivered strong revenue growth and improved profitability during the period. Amrosi Revenue's work 8.1 million dollars in Q2 up significantly year over year and sequentially from the first quarter on higher prescription volume, improving payer reimbursement, and a significant step up in the number of dermatology writers prescribing the brand. These metrics not only trended positively but also showed acceleration and we expect this progress to continue in the coming quarters. Our total net product revenues for the second quarter rose by 23% year over year, while operating expenses increased by less than 1% compared to Q2 of last year. We remain focused on delivering strong top-line growth and leveraging our proven dermatology commercial infrastructure. We are executing on these initiatives and as a result, we generated positive EBITDA in the second quarter. With this performance, we continue to believe that 2026 will be a breakout year for Journey Medical with respect to both revenue growth and profitability. MROSI prescriptions totaled approximately 36,000 in the second quarter, up from about 30,000 total prescriptions in the first quarter of this year. This represents approximately 20% sequential quarterly growth for the product, which is up from the 11% sequential quarterly prescription growth seen last quarter. Importantly, the growth is being driven by new prescriptions in addition to refills with successive increases in NRXs on a monthly basis. In June, we saw a strong increase with over 5,300 new prescriptions filled, up from an average of 4,700 NRXs in the preceding three months. This was an all-time monthly high for the product. We reported last quarter that approximately 3,700 unique dermatology prescribers had written a prescription of Amrosi. Today, I am pleased to report that there are now over 4,500 unique prescribers writing for the brand. This is more than a 40% increase in Ambrosie prescribers from the 3,200 prescribers that we had at the end of 2025. We believe that these accelerating trends are encouraging and demonstrate that as more prescribers and patients gain experience with Amrosi, product loyalty will increase and the franchise value will continue to compound. As we had planned, we hired an additional five dermatology sales professionals into our commercial organization during the second quarter. These experienced representatives joined the company in late July and were recently deployed into the field. The time to fill these relatively large sales territories couldn't be better and we expect that contributions from these new representatives will add to our already strong market penetration efforts. With over 15,000 dermatologists in the United States, there is significant room for us to grow our base of prescribers. We are increasing our peer-to-peer marketing activities and we remain active at key dermatology medical conferences to expand awareness of Ambrosie's superior clinical benefits in the treatment of rosacea. The superior head-to-head efficacy results demonstrated in our phase three clinical trials comparing MROSI to the only other branded oral rosacea treatment, Oratia, continue to be central in driving adoption throughout the dermatology community. MROSI's placebo-like safety and tolerability profile is proving to be durable, which is another important factor in recruiting new prescribers. From the patient perspective, Amrosi's rapid onset of action and superior skin clearing effects compared to erasia are key, and real-world patient experiences are supporting a growing base of loyal end users. Helping us to further broaden awareness of Amrosi in the market, we expect to announce new journal publications for the product in the coming quarters, and we believe that Amrosi has potential to be incorporated into the consensus treatment guidelines for rosacea. The payer community is also taking note of Ambrosie's early success in the market, and we are continuing to make progress with the downstream health plans. Importantly, the calculated average selling price for Ambrosie based on prescriptions increased in Q2 over Q1. After increasing previously in Q1 over Q4, as reimbursed prescriptions are becoming an increasing part of the business mix. As Amrosi's formulary status improves, we believe that our ASP will continue to rise. Earlier this year, we completed our agreements with all the top three GPOs in the nation bringing plan access for Amrosi to over 169 million of the 192 million covered commercial lives in the U.S. With those agreements in place, our focus is to pursue high-quality formulary coverage with the downstream health plans, meaning a single-step edit or better. We made good progress in the second quarter as the percentage of commercial lives with high-quality formulary coverage increased from 34% in Q1 to approximately 38% currently. Supporting this positive trend, a large national health plan placed Ambrosie on its formulary in early August, and we expect to see traction from that addition this quarter. and now I will turn the call over to our CFO, Joe Benesch, to review our second quarter financial results.