Business
Evolus Reports Third Quarter 2021 Results and Provides Business Update
Record Quarter: U.S. Net Revenue Grew 58% Year-over-Year to $26.7 Million $107.8 Million Cash Position at Quarter-EndInitiated Jeuveau® “Extra Strength” Phase
About this update from Evolus, Inc. Common Stock
[{"type":"text","content":"Record Quarter: U.S. Net Revenue Grew 58% Year-over-Year to $26.7 Million $107.8 Million Cash Position at Quarter-EndInitiated Jeuveau® “Extra Strength” Phase II Clinical Program to Demonstrate Extended Duration NEWPORT BEACH, Calif., Nov. 02, 2021 (GLOBE NEWSWIRE) -- Evolus, Inc. (Nasdaq: EOLS), a performance beauty company with a customer-centric approach focused on delivering breakthrough products, today reported financial results for the third quarter ended September 30, 2021 and provided a business update. “We reported record sales of Jeuveau® in the third quarter during what is typically the seasonally lowest sales quarter of the year for the market,” said David Moatazedi, President and Chief Executive Officer. “This strong performance reflects increasing momentum and positions Evolus for a great finish to 2021. Our commercial efforts are now in full swing, and we are seeing accelerated growth trends resulting from our co-branded marketing program.” The company believes its unique marketing strategy, primarily focused on targeted co-branded advertising, was a key catalyst for the increase in third quarter revenue. During the quarter, Evolus created greater Jeuveau® awareness with over 850 unique co-branded marketing campaigns across the United States, which generated more than 395 million media impressions. The company also observed accelerating trends for new accounts and consumers in the Evolus loyalty program. Accounts purchasing Jeuveau® increased by 500 in the third quarter to more than 6,500 total customers; new customer accounts were up by 1,000 year-to-date.Consumers in the Evolus loyalty program doubled to 240,000 registrants year-to-date through October1. Moatazedi continued, “With our strong commercial ramp underway we are now investing in a Phase II program to study an ‘extra strength’ dose for extended duration of Jeuveau®, as announced separately today. Given our aesthetics-only business model, Evolus is uniquely positioned to capitalize on opportunity, which should further position us for continued market share gains.” Third Quarter 2021 Highlights and Recent Corporate Developments U.S. Jeuveau® net revenues were $26.7 million, up 58% compared to the third quarter of 2020, with a majority of the increase driven by higher volumes; 5% U.S. net revenue sequential growth compared to the second quarter of 2021 re...