- Company Increases Full-Year 2023 Net Revenue Guidance to $185
to $195 Million
- Company Achieved Quarterly Net Revenue of $49.3 Million,
Growing 33% Year-over-Year and 10 Percentage Points Above the First
Quarter’s Growth Rate
- Achieved Record Growth and All-time Highs in New Accounts, and
Consumer Loyalty Enrollments and Redemptions
Evolus, Inc. (NASDAQ: EOLS), a performance beauty company with a
focus on building an aesthetic portfolio of consumer brands, today
reported revenue for the second quarter ended June 30, 2023 and
raised its revenue guidance for the full year.
Net revenue for the second quarter of 2023 was $49.3 million, a
33% increase over the corresponding quarter in the prior year,
representing a new quarterly record. During the quarter, the
company also achieved key performance indicator records including
an all-time high since the launch year of nearly 800 new customer
accounts, the enrollment of 64,000 new patients and the completion
of more than 147,000 patient reward redemptions, having surpassed
one million redemptions in its Evolus Rewards™ Patient Loyalty
Program earlier this year.
David Moatazedi, Evolus’ President and Chief Executive Officer,
said, “Revenue growth this quarter accelerated by 10 percentage
points over the first quarter, reflecting accelerated momentum for
Jeuveau® and the exceptional execution of our growth strategy by
the entire Evolus team. This accelerating growth and our
differentiated business model give us the confidence to raise our
2023 revenue guidance from $180 to $190 million to $185 to $195
million. As we announced in May, we are extremely excited to expand
our product portfolio to include a line of five different fillers
beginning in 2025, clearly leveraging our strong distribution model
and loyalty programs, and accelerating our top-line growth to $700
million by 2028.”
The Company will report its full second quarter financial
results on Wednesday, August 2, 2023.
Conference Call Information
Management will host a conference call and live webcast to
discuss Evolus’ financial results August 2 at 4:30 p.m. ET. To
participate in the conference call, dial (877) 407-6184 (U.S.) or
(201) 389-0877 (international) or connect to the live webcast via
the link on the Investor Relations page of our website at
www.evolus.com.
Following the completion of the call, an audio replay can be
accessed for 48 hours by dialing (877) 660-6853 (U.S.) or (201)
612-7415 (international) and using conference number 13739952. An
archived webcast, which will remain available for 30 days, can also
be accessed on the Investor Relations page of our website at
www.evolus.com.
About Evolus, Inc.
Evolus (Nasdaq: EOLS) is a performance beauty company evolving
the aesthetic neurotoxin market for the next generation of beauty
consumers through its unique, customer-centric business model and
innovative digital platform. Our mission is to become a global,
multi-product aesthetics company based on our flagship product,
Jeuveau® (prabotulinumtoxinA-xvfs), globally licensed under the
brand name Nuceiva®. The product is manufactured in a
state-of-the-art facility using Hi-Pure™ technology. Evolus is
expanding its product portfolio having entered into a definitive
agreement to be the exclusive U.S. distributor of Evolysse™, a line
of five unique dermal fillers currently in late-stage development.
Visit us at www.evolus.com, and follow us on LinkedIn, Twitter,
Instagram or Facebook.
Forward-Looking Statements
This press release contains forward-looking statements as
defined under the Private Securities Litigation Reform Act of 1995
that involve risks and uncertainties, including statements about
future events, our business, financial condition, results of
operations and prospects, our industry and the regulatory
environment in which we operate. Any statements contained herein
that are not statements of historical or current facts are
forward-looking statements. In some cases, you can identify
forward-looking statements by terms such as “anticipate,”
“believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,”
“potential,” “predict,” “project,” “should,” “will,” “would” or the
negative of those terms, or other comparable terms intended to
identify statements about the future. The company’s forward-looking
statements include, but are not limited to, statements related to
our increased 2023 revenue guidance and our ability to leverage our
distribution model and loyalty programs to accelerate our top-line
growth to $700 million by 2028.
The forward-looking statements included herein are based on our
current expectations, assumptions, estimates and projections, which
we believe to be reasonable, and are subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by the forward-looking statements.
These risks and uncertainties, all of which are difficult or
impossible to predict accurately and many of which are beyond our
control, include, but are not limited to uncertainties associated
with our ability to comply with the terms and conditions in the
Medytox Settlement Agreements, our ability to fund our future
operations or obtain financing to fund our operations, unfavorable
global economic conditions and the impact on consumer discretionary
spending, uncertainties related to customer and consumer adoption
of Jeuveau® and EvolysseTM, the efficiency and operability of our
digital platform, competition and market dynamics, our ability to
successfully launch and commercialize our products in new markets,
including the EvolysseTM dermal filler product line in the U.S.,
our ability to maintain regulatory approvals of Jeuveau® or obtain
regulatory approvals for new product candidates or indications, our
reliance on Symatese to achieve regulatory approval for the
EvolysseTM dermal filler product line in the U.S., and other risks
described in our filings with the Securities and Exchange
Commission, including in the section entitled “Risk Factors” in our
Annual Report on Form 10-K and our Quarterly Report on Form 10-Q
for the quarter ended March 31, 2023 filed with the Securities and
Exchange Commission on May 9, 2023. These filings can be accessed
online at www.sec.gov. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date hereof. Except as required by law, we undertake no
obligation to update or revise any forward-looking statements to
reflect new information, changed circumstances or unanticipated
events. If we do update or revise one or more of these statements,
investors and others should not conclude that we will make
additional updates or corrections.
Jeuveau® and Nuceiva® are registered trademarks of Evolus, Inc.
Evolysse™ is a trademark of Evolus, Inc. Hi-Pure™ is a trademark of
Daewoong Pharmaceutical Co, Ltd.
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version on businesswire.com: https://www.businesswire.com/news/home/20230726826663/en/
Investor Contact: David K. Erickson
Vice President, Investor Relations Tel: 949-966-1798 Email:
david.erickson@evolus.com
Media Contact: Email:
media@evolus.com
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