Business
Evolus Reports Fourth Quarter and Full Year 2022 Results and Provides Business Update
Q4 2022 Net Revenue Reached an All-Time High of $43.6 Million, Up 26% from Q4 2021 Full-Year 2022 Net Revenue of $148.6 Million, Up 49% Over 2021 Reaffirms
About this update from Evolus, Inc. Common Stock
[{"type":"text","content":"\n\nQ4 2022 Net Revenue Reached an All-Time High of $43.6 Million, Up 26% from Q4 2021\n\n\nFull-Year 2022 Net Revenue of $148.6 Million, Up 49% Over 2021\n\n\nReaffirms Full-Year 2023 Net Revenue Guidance of $180 to $190 Million and Positive Non-GAAP Operating Income1 in Q4 2023\n\n\n NEWPORT BEACH, Calif.--(BUSINESS WIRE)--\nEvolus, Inc. (NASDAQ: EOLS), a performance beauty company with a customer-centric approach focused on delivering breakthrough products, today reported financial results for the fourth quarter and full year ended December 31, 2022 and provided a business update. The results were consistent with the previously reported preliminary unaudited results announced on January 18, 2023.\n\n“We are pleased to announce our fourth quarter and full year results for 2022 highlighted by strong market share gains in the U.S., the first phase of our expansion into the European market, and disciplined operating expense management,” said David Moatazedi, President and Chief Executive Officer. “For the second year in a row, Jeuveau® was the fastest-growing neurotoxin in the U.S. aesthetic market, crossing into a double-digit unit share position. We also completed enrollment in our Phase II “extra-strength” study of Jeuveau®, leading to the presentation earlier this year of very encouraging interim data. That data showed an extra-strength formulation of Jeuveau® demonstrated effects lasting 26 weeks representing prolonged 6-month performance compared to 21 weeks in the control arms.”\n\nMoatazedi continued, “Aesthetic neurotoxin market conditions in the U.S. remain strong and demand continues to grow. In 2023, we expect to grow at least twice as fast as the U.S. aesthetic neurotoxin market and are reaffirming our net revenue guidance of $180 million to $190 million. This aligns to our guidance of total revenue of $500 million by 2028, a 22% compound annual growth rate. We remain committed to reaching positive non-GAAP operating income by the fourth quarter of 2023 without the need for any additional capital to fund our current operations.”\n\nFourth Quarter 2022 Highlights and Recent Developments\n\n\nThe company’s lead sales and marketing metrics demonstrated continued strong momentum during the fourth quarter.\n\n\nEvolus added more than 700 new customer accounts in the quarter and more than 2,500 during 2022, bringing the to...