Revance Q4 2022 Earnings Report
Key Takeaways
Revance Therapeutics reported a strong Q4 2022, with total revenue reaching $49.9 million, a 92% increase year-over-year. The company saw significant growth in RHA® Collection revenue and initial revenue from DAXXIFY® during the PrevU program. The company is preparing for the commercial launch of DAXXIFY® in late March 2023.
Total revenue for Q4 2022 was $49.9 million, a 92% increase compared to the same period last year.
RHA® Collection revenue increased 46% year-over-year to $34.8 million in Q4 2022.
DAXXIFY® Q4 PrevU revenue was $11.0 million, with commercial launch to begin late March 2023.
The company expects 2023 GAAP operating expenses to be $460 million to $480 million.
Revance
Revance
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 expense to be $80 million to $90 million.
Positive Outlook
- Increased investments in aesthetics commercial infrastructure.
- Sales team expansion.
- DAXXIFY® and RHA® commercial investments.
- Biosimilar partnership investments.
- U.S. aesthetics portfolio (DAXXIFY®, RHA® Collection, OPUL®) will be funded to cash flow breakeven.