Evolus (EOLS) Reports Prelim. Q4 Results

Evolus, Inc. (Nasdaq: EOLS), a performance beauty company with a customer-centric approach focused on delivering breakthrough products, today announced its preliminary unaudited revenues for the fourth quarter and full year ended December 31, 2019 and cash position at December 31, 2019. The preliminary unaudited results described in this press release are estimates only and are subject to revision until the company reports its full financial results for the fourth quarter and full year 2019.

Unaudited preliminary results include:

• $18.5 - $19.5 million in total net revenues for the fourth quarter of 2019 consisting of $17.8 to $18.8 million of U.S. Jeuveau® revenue and $0.7 million of revenue from international sales.
• $34.0 - $35.0 million in total net revenues for the full year 2019 consisting of $33.3 to $34.3 million of U.S. Jeuveau® revenue and $0.7 million of revenue from international sales.
• Cash, cash equivalents and short-term investments were $129.8 million at 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 million from a stock offering, offset by $17.5 million of cash burn. The cash burn in the fourth quarter of 2019 improved from $25.9 million in the third quarter of 2019 and $33.8 million in the second quarter of 2019 when Jeuveau® was launched.

(*Consensus sees Q4 loss per share of 82 cents on revenue of $16.2 million)

“We are pleased with the Jeuveau® sales performance in the fourth quarter of 2019 and our momentum going into 2020,” said David Moatazedi, President and Chief Executive Officer. “We expect Jeuveau® to be one of the top five aesthetic product launches on a revenue basis1 and we are well on our way to achieving the number two unit share position within 24 months of launch.”

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