https://assets.capyfin.com/instruments/678fdc13234e27009c5d64ee.png avatar
Optinose
🇺🇸 NASDAQ:OPTN
View Company
OverviewEarningsDividends
•
Sep 30, 2024

Optinose Q3 2024 Earnings Report

Optinose reported Q3 2024 financial results, with XHANCE net revenue increasing by 3% compared to Q3 2023 and a positive inflection in new prescriptions observed in September.

Key Takeaways

Optinose reported a 3% increase in XHANCE net revenue for Q3 2024, reaching $20.4 million. The company noted a positive inflection in new prescriptions starting in September. Financial guidance was updated, with full-year XHANCE net revenue expected to be between $75.0 and $79.0 million and operating expenses between $90.0 and $93.0 million.

XHANCE net revenue for Q3 2024 reached $20.4 million, a 3% increase compared to Q3 2023.

A positive inflection in new prescriptions of XHANCE was observed starting in September.

Full year 2024 XHANCE net revenue guidance was decreased to $75.0 - $79.0 million.

Full year 2024 operating expenses guidance was decreased to $90.0 - $93.0 million.

Total Revenue
$20.4M
Previous year: $19.8M
+3.1%
EPS
$0.00268
Previous year: -$0.08
-103.4%
Gross Profit
$18.4M
Previous year: $17.6M
+4.4%
Cash and Equivalents
$82.5M
Previous year: $66.8M
+23.4%
Free Cash Flow
-$8.85M
Previous year: -$4.6M
+92.4%
Total Assets
$131M
Previous year: $101M
+29.2%

Optinose

Optinose

Optinose Revenue by Segment

Forward Guidance

Optinose updated its financial guidance for the full year 2024, anticipating XHANCE net revenues between $75.0 and $79.0 million and average net revenue per prescription of approximately $270. Total GAAP operating expenses are expected to be between $90.0 and $93.0 million.

Positive Outlook

  • XHANCE average net revenue per prescription is expected to be approximately $270.
  • Total GAAP operating expenses are expected to be between $90.0 to $93.0 million.
  • Company expects stock-based compensation to be approximately $6.0 million.
  • Company believes the recent accelerating trend in new prescription demand reinforces the magnitude of the longer-term opportunity.
  • Company's experience in the initial phases of the launch has improved its understanding of the key drivers of adoption.

Challenges Ahead

  • XHANCE net revenues for the full year of 2024 to be between $75.0 to $79.0 million.
  • Company believes that it is probable that it will not maintain compliance with certain financial covenants.
  • Company's unaudited financial statements for the three and nine months ended September 30, 2024 will state that there is substantial doubt about the Company's ability to continue as a going concern.
  • Physician and patient acceptance of XHANCE for its new indication
  • The risk that the positive inflection in new XHANCE prescriptions starting in September does not continue and grow

Company Overview

Full financial data and analysis

View Optinose