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Sep 30, 2024
Evolus Q3 2024 Earnings Report
Evolus' Q3 2024 results showcased strong momentum, driven by Jeuveau® and strategic initiatives.
Key Takeaways
Evolus reported a 22% increase in total net revenues for Q3 2024, reaching $61.1 million, driven by higher volumes of Jeuveau®. The company narrowed its full-year revenue guidance to $260 million to $266 million and reaffirmed its expectation of non-GAAP profitability in Q4 2024 and full year 2025. Evolus also received approval for Estyme® in the European Union and anticipates the launch of Evolysse™ in the U.S. by September 2025.
Total net revenues increased by 22% to $61.1 million compared to Q3 2023.
Adjusted gross profit margin was 70.2%.
Evolus added over 600 new customer accounts, bringing the total to nearly 14,500.
Evolus Rewards™ consumer loyalty program surpassed 1 million enrolled consumers.
Evolus
Evolus
Evolus Revenue by Segment
Revenue by Segment
Product Revenue, Net Revenue
CapyFin.comService Revenue
CapyFin.com Forward Guidance
Evolus narrows its full year total net revenue guidance to $260 million to $266 million, representing year-over-year growth of 29% to 32% from 2023 results and well above the estimated growth rate of the aesthetic neurotoxin market. The company continues to expect its adjusted gross profit margin for the full year 2024 to be between 68% and 71%. Evolus continues to expect its full-year non-GAAP operating expenses to be between $185 million and $190 million. The company continues to expect to achieve positive non-GAAP operating income on a consolidated basis for the fourth quarter of 2024 and for the full year 2025.
Positive Outlook
- Full year total net revenue guidance narrowed to $260 million to $266 million, representing year-over-year growth of 29% to 32%.
- Adjusted gross profit margin for the full year 2024 expected to be between 68% and 71%.
- Full-year non-GAAP operating expenses expected to be between $185 million and $190 million.
- Positive non-GAAP operating income expected for Q4 2024 and full year 2025.
- PMA application for Evolysse™ Form and Evolysse™ Smooth injectable HA gels under review by the U.S. FDA with approval and launch expected by September 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income