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Sep 30, 2024
Revance Q3 2024 Earnings Report
Reported financial results for the third quarter and provided a corporate update.
Key Takeaways
Revance reported an 11% increase in total net revenue for the third quarter, reaching $59.9 million compared to $54.1 million for the same period in 2023. This growth was primarily driven by increased sales volume of DAXXIFY and the RHA® Collection, although partially offset by reduced average selling prices for both product lines. The company is withdrawing its 2024 financial guidance due to a proposed merger with Crown.
Revance and Crown Laboratories entered into a merger agreement, leading to an extension of the tender offer commencement date to November 12, 2024.
Revance and Teoxane amended their distribution agreement for the RHA® Collection in the U.S. and entered into an exclusive distribution agreement for DAXXIFY® in Australia and New Zealand.
DAXXIFY was approved in Mainland China for the temporary improvement of glabellar lines.
Total net revenue for the third quarter ended September 30, 2024, was $59.9 million, an 11% increase compared to the same period in 2023.
Forward Guidance
Revance is withdrawing its 2024 financial guidance in light of the proposed merger with Crown and other recent developments and will not hold a conference call to discuss its third quarter 2024 earnings.
Historical Earnings Impact
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