Evolus Announces Preliminary, Unaudited, Fourth Quarter and Full Year 2020 Net Revenue
Q4 2020 Net Revenue of $20.6 Million Increased 16% Over Q3 2020
NEWPORT BEACH, Calif., Feb. 23, 2021 (GLOBE NEWSWIRE) -- Evolus, Inc. (NASDAQ: EOLS) today announced its preliminary, unaudited, net revenues for the fourth quarter and full year ended December 31,
2020. 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 2020.
“We delivered another quarter of strong sales despite the backdrop of litigation and the challenging COVID-19 environment. In the fourth quarter, ordering accounts grew to more than 5,600 since launch, and re-order rates reached an all-time high, both of which are indicators of strong adoption and anticipated future Jeuveau demand,” said David Moatazedi, President and Chief Executive Officer. “Last Friday, we announced full resolution of the International Trade Commission case and all other legal matters between Abbvie, Medytox and Evolus. We believe increased competition and options benefit all market participants. I would like to thank our customers and employees for their unwavering support through this difficult time.”
“During the 60-day ITC Presidential Review period, we increased customer pricing significantly due to the bond amount required to keep Jeuveau on the market. As a result, we generated nominal revenue from mid-December 2020 through mid-February 2021.”
Preliminary, Unaudited, Results
- $20.6 million in total net revenues for the fourth quarter of 2020.
- $56.5 million in total net revenues for the full year 2020 consisting of $55.8 million of U.S. Jeuveau revenue and $0.7 million of revenue from international sales.
Key Business Highlights
- Jeuveau purchasing account base increased by more than 2,000 accounts in 2020 with re-order rates achieving an all-time high of 71.6%1 in the fourth quarter of 2020.
- Robust adoption of consumer loyalty program with more than 110,000 consumers enrolled since launch in May 2020.
- Continued leverage of proprietary digital platform with 75% of orders in 2020 originating from the Evolus Practice App.
About Evolus, Inc.
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.