Q2 2024 Evolus Inc Earnings Call Transcript
Key Points
- Evolus Inc (EOLS) achieved profitability in the second quarter of 2024, two quarters earlier than anticipated.
- The company reported a 36% year-over-year revenue growth, with second-quarter revenues reaching $66.9 million.
- Jeuveau's market share increased to 13%, demonstrating strong demand and brand recognition.
- Evolus Inc (EOLS) raised its full-year 2024 net revenue guidance to between $260 million and $270 million, indicating confidence in continued growth.
- The company is preparing for a transformative year in 2025 with the commercialization of its novel dermal filler line, Evolysse, and has submitted a premarket approval application to the FDA.
- Operating expenses increased in the second quarter, with GAAP operating expenses rising to $74.6 million from $68.3 million in the first quarter.
- Despite achieving profitability in Q2, the company anticipates not being profitable in the third quarter due to seasonal revenue decreases.
- The filler market is experiencing lower growth rates compared to historical trends, which could impact future sales.
- International revenue contribution remains low, with over 95% of revenues coming from the US market.
- The company faces potential competition from new entrants in the toxin market, which could impact market share and growth.
Good afternoon, everyone, and thank you for standing by. Welcome to Evolus's second-quarter 2024 earnings conference call. As a reminder, today's conference is being recorded and webcast live. (Operator Instructions)
I would now like to turn the conference over to your host, Nareg Sagherian, Vice President and Head of Global Investor Relations and Corporate Communications. Please go ahead.
Thank you, operator, and welcome to everyone joining us on today's call to review our second-quarter 2024 financial results. Our second-quarter 2024 press release is now on our website at evolus.com. With me today are David Moatazedi, President and Chief Executive Officer; and Sandra Beaver, Chief Financial Officer. Rui Avelar, Chief Medical Officer and Head of R&D, is also with us for the Q&A portion of the call.
Before we begin our discussion, I'd like to note that during our call, our prepared remarks will include forward-looking
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