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Side-by-side financial comparison of CSP INC (CSPI) and Journey Medical Corp (DERM). Click either name above to swap in a different company.
Journey Medical Corp is the larger business by last-quarter revenue ($16.1M vs $12.0M, roughly 1.3× CSP INC). CSP INC runs the higher net margin — 0.8% vs -7.8%, a 8.5% gap on every dollar of revenue. On growth, Journey Medical Corp posted the faster year-over-year revenue change (27.3% vs -23.2%). Over the past eight quarters, Journey Medical Corp's revenue compounded faster (11.0% CAGR vs -6.3%).
CSP Inc. is a U.S.-based technology firm offering cybersecurity solutions, managed IT services, high-performance computing systems, and IT consulting support. It serves enterprises across healthcare, finance, manufacturing, and public sectors in North America and select global markets.
Journey Medical Corp is a commercial-stage biopharmaceutical company specializing in dermatology treatments. It develops, manufactures and markets prescription and over-the-counter products addressing acne, atopic dermatitis, fungal skin infections and other dermal conditions, primarily serving healthcare providers and patients across the United States.
CSPI vs DERM — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.0M | $16.1M |
| Net Profit | $91.0K | $-1.2M |
| Gross Margin | 39.3% | — |
| Operating Margin | -0.9% | -2.8% |
| Net Margin | 0.8% | -7.8% |
| Revenue YoY | -23.2% | 27.3% |
| Net Profit YoY | -80.7% | -182.0% |
| EPS (diluted) | $0.01 | $-0.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $12.0M | $16.1M | ||
| Q3 25 | $14.5M | $17.0M | ||
| Q2 25 | $15.4M | $15.0M | ||
| Q1 25 | $13.1M | $13.1M | ||
| Q4 24 | $15.7M | $12.6M | ||
| Q3 24 | $13.0M | $14.6M | ||
| Q2 24 | $13.1M | $14.9M | ||
| Q1 24 | $13.7M | $13.0M |
| Q4 25 | $91.0K | $-1.2M | ||
| Q3 25 | $-191.0K | $-2.3M | ||
| Q2 25 | $-264.0K | $-3.8M | ||
| Q1 25 | $-108.0K | $-4.1M | ||
| Q4 24 | $472.0K | $1.5M | ||
| Q3 24 | $-1.7M | $-2.4M | ||
| Q2 24 | $-185.0K | $-3.4M | ||
| Q1 24 | $1.6M | $-10.4M |
| Q4 25 | 39.3% | — | ||
| Q3 25 | 36.6% | — | ||
| Q2 25 | 28.8% | — | ||
| Q1 25 | 32.0% | — | ||
| Q4 24 | 29.1% | 82.3% | ||
| Q3 24 | 28.4% | 63.9% | ||
| Q2 24 | 35.0% | 56.0% | ||
| Q1 24 | 47.3% | 47.7% |
| Q4 25 | -0.9% | -2.8% | ||
| Q3 25 | -3.7% | -9.0% | ||
| Q2 25 | -7.9% | -19.2% | ||
| Q1 25 | -7.6% | -25.3% | ||
| Q4 24 | -2.3% | 17.7% | ||
| Q3 24 | -15.7% | -19.8% | ||
| Q2 24 | -5.5% | -19.7% | ||
| Q1 24 | 9.0% | -77.4% |
| Q4 25 | 0.8% | -7.8% | ||
| Q3 25 | -1.3% | -13.6% | ||
| Q2 25 | -1.7% | -25.3% | ||
| Q1 25 | -0.8% | -31.0% | ||
| Q4 24 | 3.0% | 12.1% | ||
| Q3 24 | -12.7% | -16.3% | ||
| Q2 24 | -1.4% | -22.6% | ||
| Q1 24 | 11.6% | -80.1% |
| Q4 25 | $0.01 | $-0.04 | ||
| Q3 25 | $-0.02 | $-0.09 | ||
| Q2 25 | $-0.03 | $-0.16 | ||
| Q1 25 | $-0.01 | $-0.18 | ||
| Q4 24 | $0.05 | $0.10 | ||
| Q3 24 | $-0.17 | $-0.12 | ||
| Q2 24 | $-0.02 | $-0.17 | ||
| Q1 24 | $0.16 | $-0.53 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $24.9M | $24.1M |
| Total DebtLower is stronger | — | $25.3M |
| Stockholders' EquityBook value | $44.8M | $31.9M |
| Total Assets | $69.2M | $94.6M |
| Debt / EquityLower = less leverage | — | 0.79× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.9M | $24.1M | ||
| Q3 25 | $27.4M | $24.9M | ||
| Q2 25 | $26.3M | $20.3M | ||
| Q1 25 | $29.5M | $21.1M | ||
| Q4 24 | $30.7M | $20.3M | ||
| Q3 24 | $30.6M | $22.5M | ||
| Q2 24 | $28.9M | $23.9M | ||
| Q1 24 | $27.1M | $24.1M |
| Q4 25 | — | $25.3M | ||
| Q3 25 | — | $25.2M | ||
| Q2 25 | — | $25.1M | ||
| Q1 25 | — | $25.0M | ||
| Q4 24 | — | $24.9M | ||
| Q3 24 | — | $19.8M | ||
| Q2 24 | — | $19.7M | ||
| Q1 24 | — | $14.7M |
| Q4 25 | $44.8M | $31.9M | ||
| Q3 25 | $44.6M | $25.9M | ||
| Q2 25 | $47.5M | $19.2M | ||
| Q1 25 | $47.5M | $21.5M | ||
| Q4 24 | $47.5M | $20.1M | ||
| Q3 24 | $47.3M | $10.9M | ||
| Q2 24 | $48.1M | $11.3M | ||
| Q1 24 | $48.2M | $13.0M |
| Q4 25 | $69.2M | $94.6M | ||
| Q3 25 | $71.2M | $85.2M | ||
| Q2 25 | $66.8M | $81.2M | ||
| Q1 25 | $67.1M | $85.0M | ||
| Q4 24 | $67.5M | $80.2M | ||
| Q3 24 | $69.4M | $64.0M | ||
| Q2 24 | $66.8M | $65.2M | ||
| Q1 24 | $64.2M | $66.6M |
| Q4 25 | — | 0.79× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 1.30× | ||
| Q1 25 | — | 1.16× | ||
| Q4 24 | — | 1.24× | ||
| Q3 24 | — | 1.81× | ||
| Q2 24 | — | 1.75× | ||
| Q1 24 | — | 1.13× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.9M | $-6.3M |
| Free Cash FlowOCF − Capex | $-3.0M | — |
| FCF MarginFCF / Revenue | -25.1% | — |
| Capex IntensityCapex / Revenue | 0.9% | — |
| Cash ConversionOCF / Net Profit | -32.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-2.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.9M | $-6.3M | ||
| Q3 25 | $1.9M | $-2.4M | ||
| Q2 25 | $-3.3M | $-942.0K | ||
| Q1 25 | $1.9M | $-2.8M | ||
| Q4 24 | $1.7M | $2.2M | ||
| Q3 24 | $-1.5M | $-1.2M | ||
| Q2 24 | $2.4M | $-5.2M | ||
| Q1 24 | $1.7M | $-5.0M |
| Q4 25 | $-3.0M | — | ||
| Q3 25 | $1.7M | — | ||
| Q2 25 | $-3.3M | — | ||
| Q1 25 | $1.9M | — | ||
| Q4 24 | $1.7M | — | ||
| Q3 24 | $-1.5M | — | ||
| Q2 24 | $2.4M | — | ||
| Q1 24 | $1.6M | — |
| Q4 25 | -25.1% | — | ||
| Q3 25 | 11.5% | — | ||
| Q2 25 | -21.7% | — | ||
| Q1 25 | 14.5% | — | ||
| Q4 24 | 10.8% | — | ||
| Q3 24 | -11.7% | — | ||
| Q2 24 | 17.9% | — | ||
| Q1 24 | 11.9% | — |
| Q4 25 | 0.9% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.3% | — | ||
| Q1 24 | 0.1% | — |
| Q4 25 | -32.04× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.69× | 1.46× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.04× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSPI
| Products | $6.7M | 56% |
| Services | $5.3M | 44% |
DERM
| Qbrexza | $5.5M | 35% |
| Emrosi | $5.0M | 31% |
| Accutane | $3.1M | 19% |
| Other | $2.5M | 15% |
