Evolus Inc · Q3 2022 earnings

Briefing

Reported strong top-line growth and continued to gain market share while carefully managing operating expenses.

Evolus reported a 27% increase in sales to $33.9 million in Q3 2022, driven by higher volumes of Jeuveau and the success of the 'Switch Your Tox' promotion. The company is reiterating its full-year 2022 net revenue guidance at the top end of $143 to $150 million range and lowered non-GAAP operating expense guidance to the lower half of the range. Evolus expects its cash position of $65.6 million to fund the company to breakeven.

• Total net revenues increased 27% to $33.9 million compared to Q3 2021.
• Added 650 new customer accounts in the third quarter, bringing the total base since launch to more than 8,800 purchasing customers.
• Gross profit margin and adjusted gross profit margin were 58.0% and 60.2%, respectively.
• Cash and cash equivalents at September 30, 2022 were $65.6 million.

Headline financials

Revenue & EPS history

Evolus projects full-year 2022 sales at the top end of its guidance range of $143 to $150 million, expects full-year adjusted gross profit margin to be between 58% and 61% with a fourth quarter rate of 68% to 71%, and expects full-year non-GAAP operating expenses to be in the lower half of its previous guidance range of $135 to $140 million.