Evolus Q4 2020 Earnings Report
Key Takeaways
Evolus reported Q4 2020 net revenue of $20.6 million, the highest since the launch of Jeuveau. The company also successfully transformed its business by settling the ITC case and related litigation, eliminating $127 million of debt and payment obligations, and strengthening its cash position.
Net revenue for Q4 2020 reached $20.6 million, marking the highest net revenue quarter since the launch of Jeuveau.
The company settled the International Trade Commission case and related litigation.
Evolus eliminated $127 million of debt and payment obligations.
The pro forma cash position was $57 million as of December 31, 2020.
Evolus
Evolus
Forward Guidance
The Allergan/Medytox Settlement Agreements and the settlement agreement with Daewoong are expected to temporarily impact the company’s gross margin profile negatively through September 2022. The company anticipates 2021 full year gross margin will be between 50% and 55%.
Challenges Ahead
- Gross margin profile is expected to be negatively impacted through September 2022 due to settlement agreements.
- 2021 full year gross margin is anticipated to be between 50% and 55%.
- Settlement with Daewoong is expected to impact gross margin profile negatively.
- Settlement Agreements will impact company's gross margin profile negatively.
- Gross margin percentage in the United States to return to the levels seen in fiscal year 2020 only following September 2022.