Business
Evolus Reports Fourth Quarter and Full Year 2019 Results and Provides Business Update
Q4 2019 Net Revenue $19.5 Million, Up from $13.2 Million in Q3 2019 Jeuveau® Achieved Number Three Unit Share Position in the U.S. in 20191 Launched Evolux™;
About this update from Evolus, Inc. Common Stock
[{"type":"text","content":"Q4 2019 Net Revenue $19.5 Million, Up from $13.2 Million in Q3 2019\n Jeuveau® Achieved Number Three Unit Share Position in the U.S. in 20191 Launched Evolux™; Only Practice Loyalty Program to Offer Co-Branded Digital Advertising for Neurotoxins NEWPORT BEACH, Calif., Feb. 25, 2020 (GLOBE NEWSWIRE) -- Evolus, Inc. (Nasdaq: EOLS), a performance beauty company with a customer-centric approach focused on delivering breakthrough products, today provided a business update and reported financial results for the fourth quarter and full year ended December 31, 2019. “We positioned Evolus for long-term success starting with the first aesthetic only neurotoxin business model in the United States. Our competitive advantage is driven by a singularity of focus on the largest market in aesthetics combined with our proprietary digital platform and a consumer strategy designed for the fast-growing millennial segment,” said David Moatazedi, President and Chief Executive Officer. “2019 was a very successful year for Evolus, marked by the rapid uptake of Jeuveau®, which achieved the number three unit share position1. We believe we are well on our way to achieving the number two unit share position within 24 months of launch.” 2019 Key Accomplishments Received U.S. FDA approval for Jeuveau® and European approval for Nuceiva™Rapid uptake of Jeuveau® following Q2 launch in the U.S. aesthetic neurotoxin market° Increased purchasing account base from approximately 350 in Q2 to 2,000 in Q3 to 3,500 in Q4° Drove net revenue from $13.2 million in Q3, our first full quarter on the market, to $19.5 million in Q4Net loss for the fourth quarter of 2019 was $14.5 million compared with $27.0 million for the third quarter of 2019, an improvement of $12.5 million, which was largely driven by increased Jeuveau® salesExited 2019 with a strong cash position of $129.8 million2 “The first phase of our launch is now complete. We successfully accelerated Jeuveau® adoption through our J.E.T. program which drove 80% of 2019 net revenue and our #NEWTOX campaign targeting the millennial segment”, said Michael Jafar, Chief Marketing Officer. “In 2020, we are increasing our focus against this fast-growing consumer segment by launching our Direct to Millennial (DTM) strategy. This DTM investment starts with a national digital campaign, “Is Your Tox Modern Made?”, to accelerate...