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Sep 30, 2023
Evolus Q3 2023 Earnings Report
Evolus reported record quarterly revenue driven by increased Jeuveau® sales and disciplined operating expense management, demonstrating progress towards profitability.
Key Takeaways
Evolus reported a record third quarter with net revenue of $50 million, a 48% increase from Q3 2022. The company is raising its full-year 2023 revenue guidance to $194 to $198 million. They are progressing towards profitability, with operating cash use at $0.9 million for the quarter.
Achieved record quarterly revenue of $50 million, up 48% year-over-year.
Increased full-year 2023 revenue guidance to $194 to $198 million.
Added over 650 new customer accounts, bringing the total to approximately 11,600 since launch.
Net cash used for operating activities reached an all-time quarterly low of $0.9 million.
Evolus
Evolus
Forward Guidance
Evolus anticipates continued growth, projecting total net revenues for the full year 2023 to be between $194 and $198 million. They also project total net revenue can reach $700 million by 2028.
Positive Outlook
- Total net revenues for the full year 2023 to be between $194 and $198 million, representing year-over-year growth of greater than 30%
- Adjusted gross profit margin for the full year 2023 to be between 68% and 71%.
- Full-year non-GAAP operating expenses to be between $153 and $158 million.
- Expect to achieve positive non-GAAP operating income on a consolidated basis in 2025.
- Projects its total net revenue can reach $700 million by 2028, a compound annual growth rate of 29%