Evolus Announces Preliminary Unaudited Fourth Quarter and Full Year 2019 Revenue
Q4 2019 net revenue estimated between
Completed Q4 2019 with over 3,500 purchasing accounts; increased from over 2,000 at end of Q3 2019
Year-end 2019 cash, cash equivalents and short-term investments balance of
Unaudited preliminary results include:
$18.5 - $19.5 millionin total net revenues for the fourth quarter of 2019 consisting of $17.8 to $18.8 millionof U.S. Jeuveau® revenue and $0.7 millionof revenue from international sales.
$34.0 - $35.0 millionin total net revenues for the full year 2019 consisting of $33.3 to $34.3 millionof U.S. Jeuveau® revenue and $0.7 millionof revenue from international sales.
- Cash, cash equivalents and short-term investments were
$129.8 millionat December 31, 2019. As of September 30, 2019, cash, cash equivalents and short-term investments were $74.0 million. During the fourth quarter, we received net proceeds of $73.3 millionfrom a stock offering, offset by $17.5 millionof cash burn. The cash burn in the fourth quarter of 2019 improved from $25.9 millionin the third quarter of 2019 and $33.8 millionin the second quarter of 2019 when Jeuveau® was launched.
“We are pleased with the Jeuveau® sales performance in the fourth quarter of 2019 and our momentum going into 2020,” said
Evolus is a performance beauty company with a customer-centric approach focused on delivering breakthrough products. In 2019, the U.S. Food and Drug Administration approved Jeuveau® (prabotulinumtoxinA-xvfs), the first and only neurotoxin dedicated exclusively to aesthetics and manufactured in a state-of-the-art facility using Hi-Pure™ technology. Jeuveau® is powered by Evolus' unique technology platform and is designed to transform the aesthetic market by eliminating the friction points existing for customers today. Visit us at: www.evolus.com.
This press release contains forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements that relate to the status of regulatory processes, future plans, events, prospects or performance and statements containing the words “plans,” “expects,” “believes,” “strategy,” “opportunity,” “anticipates,” “outlook,” “designed,” or other forms of these words or similar expressions, although not all forward-looking statements contain these identifying words. The company’s forward-looking statements include, but are not limited to, statements related to the company’s preliminary financial revenue results for the fourth quarter and full year 2019 and statements made by Mr. Moatazedi, including the market acceptance of Jeuveau®.
Forward-looking statements are based on current estimates and assumptions made by management of the company and are believed to be reasonable, though they are inherently uncertain and difficult to predict. Forward-looking statements involve risks and uncertainties that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements. The preliminary financial results for Evolus’ fourth quarter and full year 2019 included in this press release represent the most current information available to management. Evolus’ actual results for these periods may differ from these preliminary results as a result of the completion of the company’s financial closing procedures; final adjustments; completion of the audit by the company’s independent registered accounting firm; and other developments that may arise between now and the disclosure of the final results. Other factors that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements include uncertainties associated with the success of the launch of Jeuveau®, customer and consumer adoption of the product, competition and market dynamics, our ongoing legal proceedings and our ability to maintain regulatory approval of Jeuveau® and other risks described in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended
Jeuveau® is a registered trademark of
Hi-Pure™ is a trademark of
1 Source: Medical Insights (MIInews.com). Based on first full calendar year on the market after approval.
Vice President, Finance, Investor Relations & Treasury