Revance Therapeutics Inc (RVNC)

[soma2022]

Evolus vs Revance revenue growth comparison post commerical launch April 2019 and April 2023. Revance launched to a limited number of accounts in Dec 2022 (less than 300 accounts), and then full commercial launch in Q2 2023.

https://stockanalysis.com/stocks/eols/revenue/

Evolus Market Cap: $830M
Revance MC: $480M
Jeuveau Sales first year after commercial launch: $45.4M
Daxxify Sales first year after commercial launch:$84M (85% greater): $15.4M, $22.6M, $22M, $24M (Q1 to Q4 2023)

Daxxify cost/vial significantly less than Jeuveau.

Revance sold well over 2x more vials of Daxxify than Evolus sold Jeuveau vials in the same time period post commercial launch. Granted that Daxxify units used per treatment are likely 10 to 65% greater than Jeuveau because of FDA label. Still, this implies more people treated with Daxxify in year 1 of sales than Jeuveau.

Jeuveau did $200M in sales in year 5 post launch = 4.4x what it did in year 1 and that was despite Covid. If Revance simply achieves a similar trajectory as Evolus, that gets them to $370M in Daxxify cosmetic sales by 2027. I believe they will beat this number by a significant margin.

Evolus quarterly sales:
Dec 31, 2023 61.00M
Sep 30, 2023 50.02M
Jun 30, 2023 49.35M
Mar 31, 2023 41.72M
Dec 31, 2022 43.65M
Sep 30, 2022 33.90M
Jun 30, 2022 37.16M
Mar 31, 2022 33.91M
Dec 31, 2021 34.66M
Sep 30, 2021 26.68M
Jun 30, 2021 26.10M
Mar 31, 2021 12.24M
Dec 31, 2020 20.58M
Sep 30, 2020 17.66M
Jun 30, 2020 7.81M
Mar 31, 2020 10.50M
Dec 31, 2019 19.45M
Sep 30, 2019 13.17M
Jun 30, 2019 2.31M