Evolus Reports Narrower Q4 Loss, CFO Retires, Reaffirms FY22 Outlook


Evolus Inc's EOLS Q4 FY21 sales increased 68% Y/Y to $34.7 million in line with interim results, beating the consensus of $33.99 million, driven by higher volumes and average selling price.

  • Adjusted gross profit margin declined from 64.6% to 54.3%, impacted by the higher settlement royalty rates in effect until September 2022.
  • Non-GAAP loss from operations was $(12.2) million and was impacted by the payment of settlement royalties.
  • The company entered into a $125 million term loan financing facility and borrowed the first tranche of $75 million.
  • The company also has $50 million available under the second tranche of the facility that can be drawn before December 31, 2022.
  • The company reported a Q4 EPS loss of $(0.33), compared to $(3.28) a year ago and the consensus of $(0.19).
  • Evolus announced that Lauren Silvernail would retire as CFO and EVP of Corporate Development effective May 31, 2022. The search for her successor is already underway.
  • Guidance:  Evolus continues to expect FY22 total net revenues of $143 million - $150 million (consensus $147.34 million), representing Y/Y growth of 43% - 50%. 
  • Evolus expects an adjusted gross profit margin of 58% - 61%. Settlement royalty rates will decrease significantly in September 2022, which is expected to lift the adjusted gross profit margin to 68% to 71% for Q4 2022.
  • The company remains on track to commence the launch of Nuceiva in Europe in Q3 of 2022.
  • Price Action: EOLS shares closed 3.63% lower at $9.02 on Thursday.
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceHealth CareSmall CapManagementGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!