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Side-by-side financial comparison of Journey Medical Corp (DERM) and PURE CYCLE CORP (PCYO). Click either name above to swap in a different company.
Journey Medical Corp is the larger business by last-quarter revenue ($16.1M vs $9.1M, roughly 1.8× PURE CYCLE CORP). PURE CYCLE CORP runs the higher net margin — 50.0% vs -7.8%, a 57.7% gap on every dollar of revenue. On growth, PURE CYCLE CORP posted the faster year-over-year revenue change (58.8% vs 27.3%). Over the past eight quarters, PURE CYCLE CORP's revenue compounded faster (69.0% CAGR vs 11.0%).
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.
Pure Cycles, is a bicycle company based in Los Angeles, California that was founded by Michael Fishman, Jordan Schau, Zachary Schau and Austin Stoffers in 2010, as Pure Fix Cycles.
DERM vs PCYO — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $16.1M | $9.1M |
| Net Profit | $-1.2M | $4.6M |
| Gross Margin | — | 68.4% |
| Operating Margin | -2.8% | 48.0% |
| Net Margin | -7.8% | 50.0% |
| Revenue YoY | 27.3% | 58.8% |
| Net Profit YoY | -182.0% | 16.0% |
| EPS (diluted) | $-0.04 | $0.19 |
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 | $16.1M | $9.1M | ||
| Q3 25 | $17.0M | $11.2M | ||
| Q2 25 | $15.0M | $5.1M | ||
| Q1 25 | $13.1M | $4.0M | ||
| Q4 24 | $12.6M | $5.8M | ||
| Q3 24 | $14.6M | $12.6M | ||
| Q2 24 | $14.9M | $7.6M | ||
| Q1 24 | $13.0M | $3.2M |
| Q4 25 | $-1.2M | $4.6M | ||
| Q3 25 | $-2.3M | $6.1M | ||
| Q2 25 | $-3.8M | $2.3M | ||
| Q1 25 | $-4.1M | $809.0K | ||
| Q4 24 | $1.5M | $3.9M | ||
| Q3 24 | $-2.4M | $6.6M | ||
| Q2 24 | $-3.4M | $2.8M | ||
| Q1 24 | $-10.4M | $118.0K |
| Q4 25 | — | 68.4% | ||
| Q3 25 | — | 67.7% | ||
| Q2 25 | — | 63.4% | ||
| Q1 25 | — | 38.2% | ||
| Q4 24 | 82.3% | 63.8% | ||
| Q3 24 | 63.9% | 77.8% | ||
| Q2 24 | 56.0% | 64.0% | ||
| Q1 24 | 47.7% | 55.6% |
| Q4 25 | -2.8% | 48.0% | ||
| Q3 25 | -9.0% | 53.1% | ||
| Q2 25 | -19.2% | 26.0% | ||
| Q1 25 | -25.3% | -33.2% | ||
| Q4 24 | 17.7% | 29.9% | ||
| Q3 24 | -19.8% | 62.0% | ||
| Q2 24 | -19.7% | 40.3% | ||
| Q1 24 | -77.4% | -11.5% |
| Q4 25 | -7.8% | 50.0% | ||
| Q3 25 | -13.6% | 54.5% | ||
| Q2 25 | -25.3% | 43.9% | ||
| Q1 25 | -31.0% | 20.3% | ||
| Q4 24 | 12.1% | 68.4% | ||
| Q3 24 | -16.3% | 52.6% | ||
| Q2 24 | -22.6% | 37.2% | ||
| Q1 24 | -80.1% | 3.7% |
| Q4 25 | $-0.04 | $0.19 | ||
| Q3 25 | $-0.09 | $0.26 | ||
| Q2 25 | $-0.16 | $0.09 | ||
| Q1 25 | $-0.18 | $0.03 | ||
| Q4 24 | $0.10 | $0.16 | ||
| Q3 24 | $-0.12 | $0.27 | ||
| Q2 24 | $-0.17 | $0.12 | ||
| Q1 24 | $-0.53 | $0.00 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $24.1M | $17.1M |
| Total DebtLower is stronger | $25.3M | $8.0M |
| Stockholders' EquityBook value | $31.9M | $147.5M |
| Total Assets | $94.6M | $168.1M |
| Debt / EquityLower = less leverage | 0.79× | 0.05× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.1M | $17.1M | ||
| Q3 25 | $24.9M | $21.9M | ||
| Q2 25 | $20.3M | $14.4M | ||
| Q1 25 | $21.1M | $16.5M | ||
| Q4 24 | $20.3M | $19.0M | ||
| Q3 24 | $22.5M | $22.1M | ||
| Q2 24 | $23.9M | $20.5M | ||
| Q1 24 | $24.1M | $20.6M |
| Q4 25 | $25.3M | $8.0M | ||
| Q3 25 | $25.2M | $6.8M | ||
| Q2 25 | $25.1M | $6.9M | ||
| Q1 25 | $25.0M | $6.9M | ||
| Q4 24 | $24.9M | $6.9M | ||
| Q3 24 | $19.8M | $6.9M | ||
| Q2 24 | $19.7M | — | ||
| Q1 24 | $14.7M | — |
| Q4 25 | $31.9M | $147.5M | ||
| Q3 25 | $25.9M | $142.7M | ||
| Q2 25 | $19.2M | $136.7M | ||
| Q1 25 | $21.5M | $134.4M | ||
| Q4 24 | $20.1M | $133.6M | ||
| Q3 24 | $10.9M | $129.7M | ||
| Q2 24 | $11.3M | $123.2M | ||
| Q1 24 | $13.0M | $120.4M |
| Q4 25 | $94.6M | $168.1M | ||
| Q3 25 | $85.2M | $162.3M | ||
| Q2 25 | $81.2M | $151.7M | ||
| Q1 25 | $85.0M | $149.7M | ||
| Q4 24 | $80.2M | $149.7M | ||
| Q3 24 | $64.0M | $147.4M | ||
| Q2 24 | $65.2M | $140.4M | ||
| Q1 24 | $66.6M | $135.2M |
| Q4 25 | 0.79× | 0.05× | ||
| Q3 25 | 0.97× | 0.05× | ||
| Q2 25 | 1.30× | 0.05× | ||
| Q1 25 | 1.16× | 0.05× | ||
| Q4 24 | 1.24× | 0.05× | ||
| Q3 24 | 1.81× | 0.05× | ||
| 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 | $-6.3M | $-979.0K |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | -0.21× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.3M | $-979.0K | ||
| Q3 25 | $-2.4M | $9.4M | ||
| Q2 25 | $-942.0K | $-503.0K | ||
| Q1 25 | $-2.8M | $-1.4M | ||
| Q4 24 | $2.2M | $5.7M | ||
| Q3 24 | $-1.2M | $3.1M | ||
| Q2 24 | $-5.2M | $892.0K | ||
| Q1 24 | $-5.0M | $-457.0K |
| Q4 25 | — | -0.21× | ||
| Q3 25 | — | 1.53× | ||
| Q2 25 | — | -0.22× | ||
| Q1 25 | — | -1.70× | ||
| Q4 24 | 1.46× | 1.44× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | -3.87× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DERM
| Qbrexza | $5.5M | 35% |
| Emrosi | $5.0M | 31% |
| Accutane | $3.1M | 19% |
| Other | $2.5M | 15% |
PCYO
| Construction | $6.5M | 71% |
| Water And Wastewater Resource Development Segment | $2.5M | 27% |
