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Dec 31, 2021
Revance Q4 2021 Earnings Report
Reported financial results for the fourth quarter and full year ended December 31, 2021 and provided a corporate update.
Key Takeaways
Revance Therapeutics reported Q4 2021 revenue of $26.0 million, compared to $11.1 million for the same period in 2020. The net loss for the quarter was $63.1 million, compared to a net loss of $78.3 million for the same period in 2020. The company had cash, cash equivalents and short-term investments of $225.1 million as of December 31, 2021.
Completed three consecutive drug substance lots and one drug product lot as part of the qualification of new working cell bank, supporting BLA resubmission
Fourth quarter revenue for the RHA® Collection of dermal fillers was $23.8 million with over 3,000 aesthetic accounts across products and services
Cash, cash equivalents and short-term investments of $225.1 million
Launched OPUL™, the first-of-its-kind Relational Commerce platform for aesthetic practices.
Forward Guidance
Revance expects 2022 GAAP operating expenses to be $375 million to $400 million and non-GAAP operating expenses to be $260 million to $280 million. Revance expects 2022 non-GAAP research and development expense to be $100 million to $110 million.
Positive Outlook
- Obtaining FDA approval for DaxibotulinumToxinA for Injection for the treatment of moderate to severe glabellar lines as soon as possible
- Continuing to drive revenue growth by increasing adoption of the RHA® Collection of dermal fillers
- Expanding and deepening customer relationships through OPUL™
- Maintaining prudent capital allocation
- Continuing to invest in people, workplace culture, and diversity and inclusion
Historical Earnings Impact
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Avg. Return Before/After Earnings
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