Business
Evolus Reports Record Third Quarter 2023 Financial Results and Phase II Data for Extra-Strength 40U Formulation of Jeuveau®
Record Quarterly Net Revenue of $50 Million for Q3 2023, Up 48% from Q3 2022 Raises Full-Year 2023 Net Revenue Guidance from $185 to $195 Million to $194 to
About this update from Evolus, Inc. Common Stock
[{"type":"text","content":"\n\nRecord Quarterly Net Revenue of $50 Million for Q3 2023, Up 48% from Q3 2022\n\n\n\nRaises Full-Year 2023 Net Revenue Guidance from $185 to $195 Million to $194 to $198 Million\n\n\n\nOperating Use of Cash in Q3 of $0.9 Million, Demonstrating Continued Progress Towards Achieving Profitability1 with Existing Liquidity\n\n\n\n“Extra-Strength” 40U Formulation of Jeuveau® Demonstrates Effects Lasting 26 Weeks in Phase II Data Presented at 2023 American Society of Dermatologic Surgery Annual Meeting\n\n\n\n NEWPORT BEACH, Calif.--(BUSINESS WIRE)--\nEvolus, Inc. (NASDAQ: EOLS), a performance beauty company with a focus on building an aesthetic portfolio of consumer brands, today reported financial results for the third quarter ended September 30, 2023.\n\n\n“The record results of our third quarter reflect the continued strength in sales and consistent execution of our long-term growth strategy,” said David Moatazedi, President and Chief Executive Officer. “Notably, we achieved record quarterly revenue of $50 million, an increase of 48% over the prior year period in what is typically our seasonally lowest quarter. Due to the strong results and continuing momentum, we are increasing our full-year 2023 revenue guidance from between $185 to $195 million to between $194 to $198 million, which equates to over 30% growth for the fiscal year. We continue to exercise disciplined operating expense management and we remain committed to reaching profitability1 in the fourth quarter, excluding our investments related to Evolysse™ and profitability1 including the filler line in 2025.”\n\n\nThird Quarter 2023 Highlights and Recent Developments\n\n\n\nThe company’s key performance indicators demonstrated continued strong momentum during the third quarter.\n\n\nEvolus added over 650 new customer accounts in the quarter, bringing the total number of customers purchasing since launch to approximately 11,600. The reorder rate among customers remains above 70%.2\n\n\n\nMembers in the Evolus Rewards™ consumer loyalty program grew by 62,800 to 671,000.3\n\n\n\nTotal redemptions for the quarter hit an all-time high of more than 149,000 driven by continued demand from existing patients receiving repeat treatments at the rate of 60%, which demonstrates sustained brand loyalty.\n\n\n\n\n\n\nThird Quarter 2023 Financial Results\n\n\n\nTotal net revenues for ...