What happened
Shares of Evolus (EOLS -0.26%) were up more than 25% as of 11 a.m. ET after the company reported record quarterly revenue and increased guidance. The stock is up 31% so far this year.
So what
Evolus is a customer-centric healthcare aesthetics company. Its lead product is Jeuveau, a prescription neurotoxin used to temporarily diminish facial wrinkles in adults. The company reported preliminary second-quarter revenue of $49.3 million, up 33% year over year, and increased its full-year revenue guidance to between $185 million and $195 million, compared to earlier estimates of between $180 million and $190 million.
Now what
The company's report was incomplete with full second-quarter results scheduled for Aug. 2. There was no mention of what the company's net income or earnings per share (EPS) was. For example, in the first quarter, Evolus reported an EPS loss of $0.26. Investors will want to see a fuller picture of the company's financials.
The company sees plenty of potential in Jeuveau, which was launched in 2019 as a competitor to Botox. The therapy is sold in Europe and Canada under the brand name Nuceiva. Last month, the company released phase 2 trial results regarding an extra-strength version of the neurotoxin. Interim data from the study showed that the extra-strength version of Jeuveau lasted six months across three metrics.
In May, the company added Evolysse, its line of dermal fillers. Between the two products, Evolus is predicting $700 million in annual revenue by 2028.
There are plenty of big-name competitors in the prescription wrinkle-filler market, most notably Botox from AbbVie, Xeomin from Merz and Ipsen, and Dysport from Galderma.
