BFRIW - Biofrontera misses Q2 top and bottom line estimates; reaffirms FY23 outlook
2023-08-11 07:07:52 ET
- Biofrontera press release ( NASDAQ: BFRI ): Q2 GAAP EPS of -$7.23 misses by $2.62 .
- Revenue of $5.8M (+31.0% Y/Y) misses by $0.38M .
- Adjusted EBITDA for the second quarter of 2023 was negative $7.9 million compared with negative $7.1 million for the second quarter of 2022.
- Cash and cash equivalents were $4.5 million as of June 30, 2023, compared with $17.2 million as of December 31, 2022.
- Biofrontera Inc. affirms expectations for full-year 2023 growth in revenue to be at least 25% compared with 2022 vs. estimated growth of 25.51% Y/Y, and expects to be cash flow positive within approximately one and a half years.
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Biofrontera misses Q2 top and bottom line estimates; reaffirms FY23 outlook