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Jun 30, 2023
Revance Q2 2023 Earnings Report
Reported strong Q2 2023 financial results, driven by DAXXIFY's first full quarter of launch and continued growth of the RHA® Collection.
Key Takeaways
Revance reported a strong second quarter with total revenue of $58.1 million, a 104.9% increase year-over-year. The growth was driven by the sales of the RHA® Collection and the commercialization of DAXXIFY®. The company bolstered its financial position with $100 million net proceeds from its ATM program and has $50 million in notes available through Athyrium Capital.
Total revenue for Q2 2023 was $58.1 million, a 104.9% increase year-over-year.
RHA® Collection revenue for Q2 2023 was $31.8 million, a 24.7% increase year-over-year.
DAXXIFY® revenue for Q2 2023 was $22.6 million, a 47.1% increase quarter-over-quarter.
The company's financial position was bolstered by $100 million net proceeds from the ATM program.
Forward Guidance
Revance expects 2023 GAAP operating expenses to be $460 million to $480 million and non-GAAP operating expenses to be $320 million to $340 million. Revance expects 2023 non-GAAP research and development expenses to be $80 million to $90 million. The company projects that it will be funded to cash flow break-even.
Positive Outlook
- Increased investments in aesthetics commercial infrastructure.
- Sales team expansion.
- DAXXIFY® and RHA® Collection commercial investment.
- Biosimilar partnership investment.
- Funded to cash flow break-even.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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