Loading...
•
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.
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.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...