Business
Evolus Reports Fourth Quarter and Full Year 2020 Results and Provides Business Update
Q4 2020 Net Revenue $20.6 Million, Highest Net Revenue Quarter Since Launch of Jeuveau® Pro Forma Cash Position of $57 Million at December 31, 20201 NEWPORT
About this update from Evolus, Inc. Common Stock
[{"type":"text","content":"Q4 2020 Net Revenue $20.6 Million, Highest Net Revenue Quarter Since Launch of Jeuveau® Pro Forma Cash Position of $57 Million at December 31, 20201 NEWPORT BEACH, Calif., March 24, 2021 (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, 2020. “Over the past several months, we successfully transformed our business by settling the International Trade Commission case and related litigation, eliminating $127 million of debt and payment obligations and strengthening our cash position. We accomplished these key milestones while at the same time driving revenue of Jeuveau® to an all-time high in the fourth quarter of 2020,” said David Moatazedi, President and Chief Executive Officer. “The second quarter of 2021 marks the first time the full Jeuveau® value proposition of customer co-branding, consumer loyalty and our value-based pricing will be unhindered by litigation headwinds. As a result, we expect our second quarter 2021 net revenue will achieve another all-time high.” Fourth Quarter 2020 and Recent Corporate Developments In February 2021, Crystal Muilenburg was promoted to Chief Marketing Officer, leading the U.S. marketing organization and the European launch of Nuceiva™ in early 2022.Resolved all legal matters with Allergan, Medytox and Daewoong Pharmaceutical Co. Ltd. (Daewoong) related to the United States International Trade Commission (ITC) case.Continued strong underlying market demand for Jeuveau® in the fourth quarter of 2020 evidenced by: Adding 600 new purchasing accounts resulting in over 5,600 accounts2 at December 31, 2020.Re-order rates increased to 72% in the fourth quarter2.Greater than 2,800 purchasing accounts opting into the Evolus Rewards program with over 110,0003 patients enrolled since launch in May 2020. Evolus Rewards is the company’s consumer loyalty program providing patients with improved affordability and instant savings. Completed several transactions in the first quarter of 2021 to strengthen the company’s balance sheet: Eliminated $127.4 million of Evolus debt and potential future milestone payments. $76.4 million paid to discharge in full all outstanding obligations under its...