Evolus, Inc. (EOLS) saw a push of 7.95% in the pre-market. However, the last trading session closed at $7.67 with a decrease of 0.13%.
Second Quarter 2021 Financial Results
EOLS reported second-quarter 2021 financial results on 4th August 2021. Total net revenues grew from $26.1 million in the second quarter of 2020, up from $7.8 million in the previous quarter. The gross profit margin and adjusted gross profit margin were 53.9 percent and 56.7 percent, respectively. EOLS is raising its full-year 2021 adjusted gross profit margin target to a range of 54 percent to 57 percent based on its current performance. The adjusted gross profit margin does not include depreciation of intangibles or Daewoong settlement payment. Due to lower settlement royalty rates, the gross profit margin is anticipated to reach 70% starting in the fourth quarter of 2022.
The GAAP loss from operations fell 19 percent in the second quarter of 2020. Due to higher sales in the second quarter of 2021, the non-GAAP loss from operations decreased by 25%. However, the cash and cash equivalents were $131.7 million on June 30, 2021. Lastly, EOLS anticipates that its cash position will be sufficient to support its operations for at least the following 12 months.
Appointment of Vice President by EOLS
On 30th June 2021, EOLS announced that David K. Erickson is the new vice president. He will be responsible for creating, executing, and overseeing a comprehensive and strategic investor relations program. David formerly worked at Establishment Labs Holdings, a worldwide medical technology and aesthetics firm. He was formerly Vice President of Investor Relations at Edwards Lifesciences, the global leader in patient-centered solutions for structural heart disease and critical care monitoring. David has also held senior positions with NIRI, The Association for Investor Relations, and has been awarded a NIRI Fellow.
New Appointment of General Manager
EOLS stated on 19th May 2021 that Dan Stewart is the new General Manager of the company. Dan has over 20 years of expertise in medical aesthetics. He began his career at Ipsen, where he assisted with the international evaluation of Dysport for medical aesthetics. Moreover, he worked for Allergan’s aesthetics division in several sales leadership capacities before rising to the position of UK Business Unit Director. In addition, he also promoted Natrelle silicone breast implants, Vistabel, and Juvederm Ultra, throughout Europe during his time at Allergan.
