Evolus Q2 2021 Earnings Report
Key Takeaways
Evolus reported a record level of sales in Q2 2021, with net revenues increasing by 235% year-over-year to $26.1 million. The company exceeded its annualized revenue run rate goal of $100 million and had a strong cash position of $131.7 million at quarter-end. Evolus is on track for a European launch in early 2022.
Jeuveau® net revenues were $26.1 million, up strongly compared to the second quarter of 2020, driven primarily by higher volumes.
Increased Jeuveau® purchasing account base to more than 6,000 customers.
Over 200,000 consumers registered in the Evolus customer loyalty program as compared to 122,000 at year-end 2020, a 66% increase.
On track for European launch in early 2022, representing an estimated $470 million botulinum toxin market in 2022 in which the company will compete.
Evolus
Evolus
Forward Guidance
The company increased its full year 2021 adjusted gross profit margin target to a range of 54% to 57%. Beginning in the fourth quarter of 2022, the gross profit margin is expected to exceed 70% due to reduced settlement royalty rates.