Revenue: As of FY2026 Q2, the actual value is USD 5.862 M, beating the estimate of USD 5.737 M.

EPS: As of FY2026 Q2, the actual value is USD -0.62, missing the estimate of USD -0.41.

EBIT: As of FY2026 Q2, the actual value is USD -13.04 M.

Second Quarter 2026 Financial Results

Revenue

• Total revenue for the three months ended June 30, 2026, was $5.9 million, compared to $12.7 million for the same period in 2025.
• U.S. YCANTH product revenue, net, was $5.1 million for the quarter ended June 30, 2026, an increase from $4.5 million in the prior year.
• License and collaboration revenue was $0.8 million for the second quarter of 2026, a decrease from $8.2 million in the second quarter of 2025.

Operating Expenses

• Costs of product revenue were $0.4 million for the second quarter of 2026, up from $0.3 million in the second quarter of 2025.
• Cost of collaboration revenue was $0.443 million for the second quarter of 2026, compared to $0.154 million for the same period in 2025.
• Selling, general and administrative expenses increased to $10.3 million in Q2 2026 from $8.9 million in Q2 2025.
• Research and development expenses rose to $6.0 million in Q2 2026 from $1.8 million in Q2 2025.
• An expense of $1.7 million was recognized in Q2 2026 for a legal settlement, net of insurance recovery.
• Total expenses were $19.0 million for the three months ended June 30, 2026, compared to $11.2 million for the same period in 2025.

Profitability

• Loss from operations was - $13.1 million for Q2 2026, compared to income from operations of $1.5 million for Q2 2025.
• Net loss was - $13.2 million for Q2 2026, compared to a net income of $0.2 million for Q2 2025.
• Non-GAAP net loss was - $10.2 million for Q2 2026, versus a non-GAAP net income of $1.2 million for Q2 2025.

Other Financial Items

• Interest income decreased to $0.1 million in Q2 2026 from $0.2 million in Q2 2025.
• Interest expense decreased to - $0.2 million in Q2 2026 from - $2.1 million in Q2 2025.
• Change in fair value of derivative liability was $0 in Q2 2026, compared to $0.6 million in Q2 2025.

Year-to-Date Financial Results (Six Months Ended June 30, 2026)

Revenue

• Product revenue, net, was $9.4 million for the six months ended June 30, 2026, up from $8.0 million for the same period in 2025.
• License and collaboration revenue was $1.5 million for the six months ended June 30, 2026, a decrease from $8.2 million for the same period in 2025.
• Total revenue was $10.9 million for the six months ended June 30, 2026, compared to $16.1 million for the same period in 2025.

Operating Expenses

• Costs of product revenue were $1.0 million for the six months ended June 30, 2026, up from $0.8 million in the prior year period.
• Cost of collaboration revenue was $0.8 million for the six months ended June 30, 2026, compared to $0.2 million for the same period in 2025.
• Selling, general and administrative expenses were $20.3 million for the six months ended June 30, 2026, compared to $17.7 million for the same period in 2025.
• Research and development expenses were $9.9 million for the six months ended June 30, 2026, up from $4.1 million for the same period in 2025.
• An expense of $1.7 million was recognized for a legal settlement, net of insurance recovery, during the six months ended June 30, 2026.
• Total expenses were $33.7 million for the six months ended June 30, 2026, compared to $22.8 million for the same period in 2025.

Profitability

• Loss from operations was - $22.8 million for the six months ended June 30, 2026, compared to - $6.6 million for the same period in 2025.
• Net loss was - $22.8 million for the six months ended June 30, 2026, compared to a net loss of - $9.5 million for the same period in 2025.
• Non-GAAP net loss was - $19.0 million for the six months ended June 30, 2026, compared to a non-GAAP net loss of - $7.1 million for the same period in 2025.

Other Financial Items

• Interest income was $0.3 million for the six months ended June 30, 2026, down from $0.6 million in the prior year.
• Interest expense was - $0.3 million for the six months ended June 30, 2026, a decrease from - $4.3 million for the same period in 2025.
• Change in fair value of derivative liability was $0 for the six months ended June 30, 2026, compared to $0.9 million for the same period in 2025.

Balance Sheet Data (as of June 30, 2026)

Assets

• Cash was $11.2 million as of June 30, 2026, down from $30.1 million as of December 31, 2025.
• Accounts receivable increased to $11.1 million as of June 30, 2026, from $5.4 million as of December 31, 2025.
• Total current assets were $32.6 million as of June 30, 2026, compared to $42.5 million as of December 31, 2025.
• Total assets were $36.0 million as of June 30, 2026, compared to $47.1 million as of December 31, 2025.

Liabilities and Stockholders’ Equity

• Legal settlement liability was $4.0 million as of June 30, 2026.
• R&D funding liability was $8.4 million as of June 30, 2026, up from $5.1 million as of December 31, 2025.
• Total liabilities were $31.7 million as of June 30, 2026, compared to $22.4 million as of December 31, 2025.
• Total stockholders’ equity was $4.3 million as of June 30, 2026, down from $24.7 million as of December 31, 2025.

Operational Metrics

• YCANTH dispensed applicator units reached 19,626 in Q2 2026, representing a 28.3% increase over the previous quarter and a 46.1% year-over-year increase.

Outlook / Guidance

Verrica Pharmaceuticals Inc. expects to present topline data from its global Phase 3 program for common warts in mid-2027. The company’s cash runway could extend into 2028, based on its current operating plan and the full availability of its new $27.5 million credit facility. This credit facility provides additional non-dilutive capital to support YCANTH commercialization and advance the common warts program.