The following is a summary of the Evolus, Inc. (EOLS) Q1 2024 Earnings Call Transcript:
Financial Performance:
Evolus reported a Q1 2024 revenue of $59.3 million, up 42% from the prior year, indicating strong growth.
Projected revenue for 2024 stands within the range of $255 million and $265 million.
Operating expenses are growing at a rate lesser than that of their income, showcasing the company's financial discipline.
By Q4 2024, Evolus expects to achieve profitability.
The company's gross margin was 68.3%, and the adjusted gross margin was 69.5%.
The company concluded Q1 2024 with $97 million cash on hand.
Business Progress:
Over 700 new purchasing accounts were established by Evolus, bringing their total customers to over 13,000.
Their Consumer Loyalty program recorded roughly 180,000 consumers, with 60% undergoing repeat treatments.
The company continues to expand internationally, especially in the U.K., Germany, and Italy, with planned launches in Australia and Spain.
The company plans to launch its dermal filler line in the US and internationally in 2025.
Evolus has also filed its first two fillers with the FDA.
The company projects growth mainly driven by volumes indicating stable pricing.
Evolus aims to achieve profitability by Q4 and a revenue of at least $700 million by 2028.
More details: Evolus IR
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