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Optinose
🇺🇸 NASDAQ:OPTN
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Jun 30, 2024

Optinose Q2 2024 Earnings Report

Reported a net revenue increase of 5% compared to Q2 2023, driven by the launch of XHANCE for chronic sinusitis and improved formulary access.

Key Takeaways

Optinose reported Q2 2024 net revenue of $20.5 million, a 5% increase year-over-year. XHANCE was added to Express Scripts' national formularies. The company narrowed its full-year 2024 XHANCE net revenue guidance to $85.0 to $90.0 million and increased expected average net revenue per prescription guidance to at least $250.

XHANCE net revenue reached $20.5 million in Q2 2024, a 5% increase compared to Q2 2023.

XHANCE has been added to Express Scripts' national formularies, covering over 24 million lives.

Full year 2024 XHANCE net revenue guidance narrowed to $85.0 to $90.0 million.

Full year 2024 XHANCE average net revenue per prescription is expected to exceed $250.

Total Revenue
$20.5M
Previous year: $19.5M
+5.3%
EPS
-$0.07
Previous year: $0.02
-450.0%
Gross Profit
$18.5M
Previous year: $16.9M
+9.6%
Cash and Equivalents
$91.4M
Previous year: $71.3M
+28.1%
Free Cash Flow
-$15.7M
Previous year: -$12.6M
+24.6%
Total Assets
$132M
Previous year: $106M
+24.3%

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Forward Guidance

Optinose provided financial guidance for the full year 2024, including XHANCE net revenue and operating expenses.

Positive Outlook

  • XHANCE net revenues for the full year of 2024 to be between $85.0 to $90.0 million.
  • Full year 2024 XHANCE average net revenue per prescription to exceed $250.
  • Total GAAP operating expenses for 2024 to be between $95.0 to $101.0 million.
  • Stock-based compensation for 2024 to be approximately $6.0 million.
  • Current cash and cash equivalents will be sufficient to fund its operations and debt service obligations through 2025.

Company Overview

Full financial data and analysis

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