EOLS - Evolus reports Q2 mixed earnings; reaffirms FY 2022 guidance

• Evolus press release ( NASDAQ: EOLS ): Q2 GAAP EPS of -$0.42 misses by $0.11 .
• Revenue of $37.2M (+42.5% Y/Y) beats by $0.55M .
• Gross profit margin and adjusted gross profit margin were 55.4% and 57.4%, respectively.
• Reaffirms Full-Year 2022 net revenue guidance of upper end of $143M to $150M vs. consensus of $150.27M.
• Evolus continues to expect its full-year adjusted gross profit margin to increase and be between 58% and 61% with a fourth quarter step up to 68% to 71% concurrent with the significant decrease in settlement royalty rates.
• The company continues to expect full-year non-GAAP operating expenses to be between $135 million and $140 million, which consists mainly of continued investments in the growth of Jeuveau ^® in the U.S. plus Nuceiva ^® launch expenses in Europe.
• The company remains on track to launch Nuceiva in Europe beginning in the third quarter of 2022.
• Evolus remains on track to complete its Phase II "extra strength" Jeuveau clinical study by the end of the second quarter of 2023.

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