The following is a summary of the Revance Therapeutics Inc. (RVNC) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Q1 2024 revenue of $51.9 million reported, a 13% increase due to DAXXIFY.

• Net revenue of DAXXIFY aesthetic units for Q1 2024 stood at $22.1 million.

• Operating expenses for Q1 were $98.8 million, higher than the $92.5 million from Q1 2023.

• The company ended the quarter with over $275 million in cash, cash equivalents, and investments.

• Guidance of net product revenue of at least $280 million and non-GAAP OpEx of $290 million to $310 million is reiterated.

Business Progress:

• Unit sales of DAXXIFY aesthetic units saw a 105% YoY growth and market share increased to 3.7% in Q1 2024.

• The company has entered the $2.7 billion US therapeutic neurotoxin market and expects it to grow 8% annually over the next five years.

• Revance Therapeutics plans to reach positive adjusted EBITDA in 2025 with at least 32% top-line growth in 2024.

• Efficiency initiatives have resulted in a decrease in non-GAAP OpEx from $91.7 million in Q4 to $73.6 million in Q1 2024.

• Revance Therapeutics plans to roll out portfolio programs to incentivize further adoption of their products and plans for a larger account base by the end of the year.

• The company plans to focus on digital and social marketing and has raised an additional $100 million for corporate use.

More details: Revance Therapeutics IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.