Journey Medical Corp Segments Disclosure
NOTE 20. SEGMENT INFORMATION
The Company’s reportable segment net loss for the years ending December 31, 2025 and 2024 consisted of the following:
| Year Ended December 31, | |||||
($ in thousands) | 2025 | | 2024 | |||
Revenue | $ | 61,858 | $ | 56,134 | ||
Less: Segment expenses(1) |
|
| ||||
Cost of goods sold – (excluding amortization of acquired intangible assets) |
| 20,924 |
| 20,879 | ||
Research and development |
| 480 |
| 9,857 | ||
Selling, general and administrative |
|
|
|
| ||
Employee related |
| 16,969 |
| 14,765 | ||
Sales, operations, outside services and consulting |
| 9,522 |
| 9,417 | ||
Marketing related |
| 6,279 |
| 5,258 | ||
Stock compensation |
| 6,288 |
| 5,590 | ||
Legal and administrative |
| 2,428 |
| 2,230 | ||
Product compliance expense |
| 1,187 |
| 1,632 | ||
Office and administrative |
| 946 |
| 739 | ||
Other |
| 749 |
| 573 | ||
Other segment items(2) |
| 7,517 |
| (134) | ||
Segment expenses |
| 73,289 |
| 70,806 | ||
Segment loss from operations | $ | (11,431) | $ | (14,672) | ||
|
| |||||
Reconciliation to net loss: |
|
| ||||
Adjustments and reconciling items |
| — |
| — | ||
Net loss | $ | (11,431) | $ | (14,672) | ||
| (1) | The significant expense amounts align with the expenses that the CODM is regularly provided with to assess performance and allocate resources. |
| (2) | Other segment items for the reportable segment include amortization of intangible assets, loss on impairment of intangible assets, loss recovery, interest income (expense), gain on extinguishment of debt, foreign exchange transaction losses and income tax expense. |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 26, 2026 | Showing above |
| 2024 | Mar 27, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.