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Jun 30, 2023
Evolus Q2 2023 Earnings Report
Evolus reported record quarterly revenue driven by higher volumes of Jeuveau and raised full-year revenue guidance.
Key Takeaways
Evolus reported a strong second quarter with net revenue increasing 33% year-over-year to $49.3 million. The company raised its full-year 2023 net revenue guidance to $185 to $195 million and is on track to achieving sustained profitability with existing cash.
Net revenue for Q2 2023 increased 33% to $49.3 million compared to $37.2 million in Q2 2022.
Added nearly 800 new customer accounts in the quarter, bringing the total to approximately 11,000 since launch.
Evolus Rewards consumer loyalty program grew by 64,000 members to 638,000.
Completed Phase 2 clinical study evaluating an “extra-strength” dose for an extended duration of Jeuveau, with presentation of the final dataset planned for Q4 2023.
Evolus
Evolus
Forward Guidance
Evolus expects full year 2023 net revenues between $185 million and $195 million and anticipates reaching sustained positive non-GAAP operating income in 2025.
Positive Outlook
- Full year 2023 net revenues are expected to be between $185 million and $195 million.
- Adjusted gross profit margin for the full year 2023 is expected to be between 68% and 71%.
- Full-year non-GAAP operating expenses are expected to be between $153 million and $158 million.
- Expect to achieve sustained positive non-GAAP operating income on a consolidated basis in 2025.
- Projects total net revenue can reach $700 million by 2028.