Biofrontera Inc. Announces Preliminary Q3 Revenues Of ~$8.7M-$9M Vs $7.03M Est.; Affirms Guidance For Full-Year Revenue Growth Of At Least 25% Over 2022
Portfolio Pulse from Benzinga Newsdesk
Biofrontera Inc. (NASDAQ:BFRI) has announced preliminary Q3 revenues of approximately $8.7M-$9M, surpassing the estimated $7.03M. This represents an increase of 101% to 108% compared to Q3 2022. The company also reaffirmed its guidance for full-year revenue growth of at least 25% over 2022. The growth in revenues is attributed to the company's focus on contracting with key accounts, increased adoption of photodynamic therapy (PDT), and onboarding large new customers.
October 04, 2023 | 12:45 pm
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Biofrontera's Q3 revenues have significantly exceeded estimates, indicating strong performance. The reaffirmation of its full-year revenue growth guidance also suggests confidence in its business strategy.
Biofrontera's Q3 revenues have significantly exceeded estimates, which is a positive signal for investors. The company's reaffirmation of its full-year revenue growth guidance also indicates confidence in its business strategy and future performance. This news is likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100