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Side-by-side financial comparison of Journey Medical Corp (DERM) and Velo3D, Inc. (VELO). Click either name above to swap in a different company.
Journey Medical Corp is the larger business by last-quarter revenue ($16.1M vs $9.4M, roughly 1.7× Velo3D, Inc.). Journey Medical Corp runs the higher net margin — -7.8% vs -231.9%, a 224.2% gap on every dollar of revenue. On growth, Journey Medical Corp posted the faster year-over-year revenue change (27.3% vs -25.2%). Over the past eight quarters, Journey Medical Corp's revenue compounded faster (11.0% CAGR vs -1.8%).
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.
Velo3D, Inc. develops and sells advanced end-to-end metal additive manufacturing (3D printing) solutions, comprising industrial-grade printers, specialized processing software, and high-performance metal materials. It primarily serves global aerospace, defense, energy, semiconductor and industrial manufacturing markets, enabling customers to produce complex, high-precision metal parts that are difficult to manufacture with traditional methods.
DERM vs VELO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $16.1M | $9.4M |
| Net Profit | $-1.2M | $-21.9M |
| Gross Margin | — | -73.6% |
| Operating Margin | -2.8% | -231.0% |
| Net Margin | -7.8% | -231.9% |
| Revenue YoY | 27.3% | -25.2% |
| Net Profit YoY | -182.0% | -2.9% |
| EPS (diluted) | $-0.04 | $-0.87 |
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 | $9.4M | ||
| Q3 25 | $17.0M | $13.6M | ||
| Q2 25 | $15.0M | $13.6M | ||
| Q1 25 | $13.1M | $9.3M | ||
| Q4 24 | $12.6M | $12.6M | ||
| Q3 24 | $14.6M | $8.2M | ||
| Q2 24 | $14.9M | $10.3M | ||
| Q1 24 | $13.0M | $9.8M |
| Q4 25 | $-1.2M | $-21.9M | ||
| Q3 25 | $-2.3M | $-11.2M | ||
| Q2 25 | $-3.8M | $-13.3M | ||
| Q1 25 | $-4.1M | $-25.0M | ||
| Q4 24 | $1.5M | $-21.3M | ||
| Q3 24 | $-2.4M | $-21.9M | ||
| Q2 24 | $-3.4M | $935.0K | ||
| Q1 24 | $-10.4M | $-27.5M |
| Q4 25 | — | -73.6% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | — | -11.7% | ||
| Q1 25 | — | 7.5% | ||
| Q4 24 | 82.3% | -3.5% | ||
| Q3 24 | 63.9% | 49.4% | ||
| Q2 24 | 56.0% | -28.0% | ||
| Q1 24 | 47.7% | -28.8% |
| Q4 25 | -2.8% | -231.0% | ||
| Q3 25 | -9.0% | -73.3% | ||
| Q2 25 | -19.2% | -85.4% | ||
| Q1 25 | -25.3% | -123.6% | ||
| Q4 24 | 17.7% | -167.0% | ||
| Q3 24 | -19.8% | -213.8% | ||
| Q2 24 | -19.7% | -187.7% | ||
| Q1 24 | -77.4% | -211.1% |
| Q4 25 | -7.8% | -231.9% | ||
| Q3 25 | -13.6% | -82.0% | ||
| Q2 25 | -25.3% | -97.7% | ||
| Q1 25 | -31.0% | -268.4% | ||
| Q4 24 | 12.1% | -168.5% | ||
| Q3 24 | -16.3% | -265.3% | ||
| Q2 24 | -22.6% | 9.0% | ||
| Q1 24 | -80.1% | -281.2% |
| Q4 25 | $-0.04 | $-0.87 | ||
| Q3 25 | $-0.09 | $-0.65 | ||
| Q2 25 | $-0.16 | $-0.94 | ||
| Q1 25 | $-0.18 | $-1.87 | ||
| Q4 24 | $0.10 | $7.06 | ||
| Q3 24 | $-0.12 | $-35.52 | ||
| Q2 24 | $-0.17 | $1.65 | ||
| Q1 24 | $-0.53 | $-55.51 |
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 | $39.0M |
| Total DebtLower is stronger | $25.3M | $31.0M |
| Stockholders' EquityBook value | $31.9M | $38.2M |
| Total Assets | $94.6M | $105.3M |
| Debt / EquityLower = less leverage | 0.79× | 0.81× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.1M | $39.0M | ||
| Q3 25 | $24.9M | $11.8M | ||
| Q2 25 | $20.3M | $854.0K | ||
| Q1 25 | $21.1M | $3.9M | ||
| Q4 24 | $20.3M | $1.2M | ||
| Q3 24 | $22.5M | $1.6M | ||
| Q2 24 | $23.9M | $3.2M | ||
| Q1 24 | $24.1M | $10.9M |
| Q4 25 | $25.3M | $31.0M | ||
| Q3 25 | $25.2M | $23.0M | ||
| Q2 25 | $25.1M | $22.5M | ||
| Q1 25 | $25.0M | $21.7M | ||
| Q4 24 | $24.9M | $5.7M | ||
| Q3 24 | $19.8M | $32.3M | ||
| Q2 24 | $19.7M | $33.5M | ||
| Q1 24 | $14.7M | $44.0M |
| Q4 25 | $31.9M | $38.2M | ||
| Q3 25 | $25.9M | $29.9M | ||
| Q2 25 | $19.2M | $21.4M | ||
| Q1 25 | $21.5M | $32.8M | ||
| Q4 24 | $20.1M | $39.7M | ||
| Q3 24 | $10.9M | $34.4M | ||
| Q2 24 | $11.3M | $52.1M | ||
| Q1 24 | $13.0M | $45.5M |
| Q4 25 | $94.6M | $105.3M | ||
| Q3 25 | $85.2M | $93.7M | ||
| Q2 25 | $81.2M | $78.4M | ||
| Q1 25 | $85.0M | $91.3M | ||
| Q4 24 | $80.2M | $89.2M | ||
| Q3 24 | $64.0M | $110.8M | ||
| Q2 24 | $65.2M | $116.7M | ||
| Q1 24 | $66.6M | $136.1M |
| Q4 25 | 0.79× | 0.81× | ||
| Q3 25 | 0.97× | 0.77× | ||
| Q2 25 | 1.30× | 1.05× | ||
| Q1 25 | 1.16× | 0.66× | ||
| Q4 24 | 1.24× | 0.14× | ||
| Q3 24 | 1.81× | 0.94× | ||
| Q2 24 | 1.75× | 0.64× | ||
| Q1 24 | 1.13× | 0.97× |
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 | $-7.7M |
| Free Cash FlowOCF − Capex | — | $-8.3M |
| FCF MarginFCF / Revenue | — | -88.3% |
| Capex IntensityCapex / Revenue | — | 6.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.3M | $-7.7M | ||
| Q3 25 | $-2.4M | $-6.0M | ||
| Q2 25 | $-942.0K | $-1.2M | ||
| Q1 25 | $-2.8M | $-12.3M | ||
| Q4 24 | $2.2M | $-2.2M | ||
| Q3 24 | $-1.2M | $-2.0M | ||
| Q2 24 | $-5.2M | $-8.0M | ||
| Q1 24 | $-5.0M | $-20.5M |
| Q4 25 | — | $-8.3M | ||
| Q3 25 | — | $-6.3M | ||
| Q2 25 | — | $-3.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-2.2M | ||
| Q3 24 | — | $-2.0M | ||
| Q2 24 | — | $-8.0M | ||
| Q1 24 | — | $-20.5M |
| Q4 25 | — | -88.3% | ||
| Q3 25 | — | -46.5% | ||
| Q2 25 | — | -22.2% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -17.7% | ||
| Q3 24 | — | -24.2% | ||
| Q2 24 | — | -77.1% | ||
| Q1 24 | — | -209.8% |
| Q4 25 | — | 6.4% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | 13.3% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.46× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -8.52× | ||
| Q1 24 | — | — |
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% |
VELO
Segment breakdown not available.
