Revance Therapeutics Inc (RVNC)

[DewDiligence]

RVNC 3Q23 financial summary:

https://www.businesswire.com/news/home/20231108710804/en

• 3Q23 Daxxify sales were $22.0M, -3% QoQ. (There is no meaningful YoY growth figure because Daxxify was not yet on the market during 3Q22.) Note: The slight QoQ decline during the seasonally slow third calendar quarter is effectively an increase in the projected annualized rate.

• 3Q23 dermal-filler sales were $32.1M, +1% QoQ and +23% YoY.

• 3Q23 non-GAAP operating expenses (excluding revenue and COGS) were $69.0. (RVNC’s guidance for full-year 2023 non-GAAP operating expenses is $315-335M.)

• Cash at 9/30/23 was $300.2M, a $19.5M decrease relative to 6/30/23. (RVNC raised $50M in Aug 2023 from the third tranche of the Athyrium Capital loan.)