Evolus(US:EOLS)2025-11-05 22:02Revenue Performance - Product revenue increased by $8.8 million, or 14.6%, to $68.97 million for the three months ended September 30, 2025, compared to $60.16 million for the same period in 2024[186]. - Total net revenues rose by $7.9 million, or 12.9%, to $68.97 million for the three months ended September 30, 2025, driven by the launch of Evolysse™ and increased sales of Jeuveau[187]. - Total net revenues for the nine months ended September 30, 2025, increased by $19.6 million, or 10.4%, to $206.88 million from $187.33 million in 2024[200]. Cost and Expenses - Cost of goods sold increased by $4.1 million, or 21.8%, to $23.13 million for the three months ended September 30, 2025, primarily due to higher volumes of Jeuveau and Evolysse[188]. - Selling, general and administrative expenses increased by $0.3 million, or 0.6%, to $52.82 million for the three months ended September 30, 2025, primarily due to higher selling-related costs[190]. - Research and development expenses decreased by $0.3 million, or 11.6%, to $2.05 million for the three months ended September 30, 2025, due to lower clinical operations costs[191]. - Cost of goods sold for the nine months ended September 30, 2025, increased by $11.4 million, or 19.8%, to $69.06 million from $57.66 million in 2024[201]. - Selling, general and administrative expenses increased by $18.3 million, or 12.4%, to $166.1 million for the nine months ended September 30, 2025[203]. - Research and development expenses decreased by $0.6 million, or 9.6%, to $6.1 million for the nine months ended September 30, 2025[204]. - Depreciation and amortization increased by $1.3 million, or 77.5%, to $2.9 million for the nine months ended September 30, 2025[206]. - Restructuring costs were $1.4 million in the nine months ended September 30, 2025, with no costs incurred in the prior year[207]. Profitability and Loss - Gross profit margin decreased to 66.5% for the three months ended September 30, 2025, down from 68.9% in the same period of 2024[189]. - Gross profit margin was 66.6% for the nine months ended September 30, 2025, down from 69.2% in 2024[202]. - Net loss for the three months ended September 30, 2025, was $15.74 million, compared to a net loss of $19.17 million for the same period in 2024[186]. - Net loss was $51.8 million for the nine months ended September 30, 2025, compared to a net loss of $43.6 million in 2024[212]. Cash Flow and Financial Position - Cash and cash equivalents as of September 30, 2025, were $43.5 million, with positive working capital of $68.2 million[211]. - Cash used in operating activities increased to $55.1 million for the nine months ended September 30, 2025, compared to $22.8 million for the same period in 2024, primarily due to a higher net loss and increased inventory purchases[227]. - Cash used in investing activities rose to $6.3 million in the nine months ended September 30, 2025, up from $3.5 million in the same period in 2024, driven by a $2.8 million increase in expenditures on capitalized internal-use software and property and equipment[228]. - Cash provided by financing activities decreased to $17.3 million for the nine months ended September 30, 2025, compared to $48.7 million in the same period in 2024, mainly due to lower cash receipts from stock options and the absence of a follow-on equity offering[229]. - Cash and cash equivalents decreased to $43.5 million at the end of the nine months ended September 30, 2025, down from $85.0 million at the end of the same period in 2024[226]. Obligations and Future Commitments - The company has an accumulated deficit of $661.2 million as of September 30, 2025[212]. - The fair value of contingent royalty obligations to Evolus Founders was recorded at $36.7 million as of September 30, 2025[217]. - The company has approximately $65 million in future interest payments on outstanding New Pharmakon Term Loans, with $14.1 million due within the next twelve months[232]. - The company is obligated to make quarterly royalty payments based on a low single-digit percentage of net sales of Jeuveau, which will terminate after the 10-year anniversary of its first commercial sale in the U.S.[232]. - Milestone payments under the Symatese U.S. Agreement total €12.1 million, contingent on FDA approval of three Evolysse™ products, with specific amounts due at various future dates[232]. Market Risks - The company is exposed to market risks primarily from fluctuations in interest rates and foreign currency exchange rates, with no material changes reported since the last annual report[236][237].