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Sep 30, 2021
Evolus Q3 2021 Earnings Report
Reported record sales of Jeuveau® and a 58% year-over-year revenue increase, driven by higher volumes and co-branded marketing efforts.
Key Takeaways
Evolus reported a strong third quarter with record sales of Jeuveau®, driven by increased volumes and successful co-branded marketing campaigns. U.S. net revenues increased by 58% year-over-year to $26.7 million. The company is also investing in a Phase II program to study an 'extra strength' dose for extended duration of Jeuveau®.
U.S. Jeuveau® net revenues increased 58% year-over-year to $26.7 million.
Gross profit margin was 54.2%, and adjusted gross profit margin was 56.9%.
Initiated a Phase II program evaluating an “extra strength” dose of Jeuveau® for extended duration.
European introduction of Nuceiva® remains on track for early 2022.
Forward Guidance
The company is reiterating its full year 2021 adjusted gross profit margin target of 54% to 57%. Beginning in the fourth quarter of 2022, settlement royalty rates decrease resulting in an adjusted gross margin target expected to exceed 70%.
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