Revance Therapeutics Inc (RVNC)

[DewDiligence]

RVNC reports 2Q24 results—reiterates 2024 guidance:

https://investors.revance.com/investors/Press-Releases/news-details/2024/Revance-Reports-Second-Quarter-2024-Financial-Results-Provides-Corporate-Update/default.aspx


2Q24 financial highlights

• 2Q24 product sales (Daxxify + dermal fillers) were $65.3M, +26% YoY and +20% YoY.

• 2Q24 Daxxify sales were $28.7M, +30% QoQ and +27% YoY.

• 2Q24 dermal-filler sales were $36.6M, +24% QoQ and +15% YoY.

• Cash at 6/30/24 was $232.2M, a $44.9M decrease relative to 3/31/24.

• 2Q24 non-GAAP operating expenses (excluding COGS) were $74.8M, consistent with RVNC’s 2024 guidance of $290-310M.


Reiterated 2024 guidance

• Product revenue (Daxxify + dermal fillers) >=$280M; to meet or beat this guidance, combined 3Q24/4Q24 product revenue needs to be >=$163M.

• Non-GAAP operating expenses (excluding COGS) of $290-310M.