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DewDiligence

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DewDiligence

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Re: DewDiligence post# 250294

Wednesday, 02/28/2024 4:16:32 PM

Wednesday, February 28, 2024 4:16:32 PM

Post# of 252300
RVNC 4Q23 results and 2024 guidance:

https://investors.revance.com/investors/Press-Releases/news-details/2024/Revance-Reports-Fourth-Quarter-and-Full-Year-2023-Financial-Results-Provides-Corporate-Update/default.aspx

• 4Q23 Daxxify sales were $24.0M, +9% QoQ and +118% YoY. Note: RVNC cut the price of Daxxify on 9/1/23, so 4Q23 is the first full quarter with the revised pricing.

• 4Q23 Daxxify volume (units shipped) was +22% QoQ. (See note about pricing in the first bullet above.)

• 4Q23 dermal-filler sales were $34.5M, +7% QoQ and -1% YoY.

• Cash at 12/31/23 was $253.9M, a $46.3M decrease relative to 9/30/23.

• 2024 guidance for product revenue (Daxxify + RHA) is >=$280M, the same guidance RVNC gave in its PR on 1/8/24 (#msg-173581687). I contend that this $280M is a lowball number that RVNC can exceed handily.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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