Evolus, Inc. Files Q2 2024 10-Q

TL;DR

Evolus Q2 2024 10-Q filed. Check financials.

AI Summary

Evolus, Inc. filed its 10-Q for the period ending June 30, 2024. The company, based in Newport Beach, CA, operates in the Pharmaceutical Preparations sector. Key financial details and operational updates for the second quarter of 2024 are presented in this filing.

Why It Matters

This filing provides investors and stakeholders with the latest financial performance and operational insights for Evolus, Inc. during the second quarter of 2024.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Evolus faces inherent risks related to product development, regulatory approvals, and market competition.

Key Players & Entities

• Evolus, Inc. (company) — Filer of the 10-Q
• 2024-06-30 (date) — End of the reporting period
• Newport Beach, CA (location) — Company headquarters
• 2834 (industry_code) — Standard Industrial Classification for Pharmaceutical Preparations

FAQ

Key Financial Figures

• $0.00001 — ich registered Common Stock, par value $0.00001 per share EOLS The Nasdaq Stock Market
• $0 — he registrant's common stock, par value $0.00001, were outstanding. Table of Con

Filing Documents

• eols-20240630.htm (10-Q) — 1297KB
• exhibit311q22024.htm (EX-31.1) — 10KB
• exhibit312q22024.htm (EX-31.2) — 10KB
• exhibit321q22024.htm (EX-32.1) — 8KB
• 0001570562-24-000116.txt ( ) — 6729KB
• eols-20240630.xsd (EX-101.SCH) — 46KB
• eols-20240630_cal.xml (EX-101.CAL) — 69KB
• eols-20240630_def.xml (EX-101.DEF) — 250KB
• eols-20240630_lab.xml (EX-101.LAB) — 649KB
• eols-20240630_pre.xml (EX-101.PRE) — 431KB
• eols-20240630_htm.xml (XML) — 758KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (unaudited) 6 Condensed Consolidated Balance Sheets 6 Condensed Consolidated Statements of Operations and Comprehensive Loss 7 Condensed Consolidated Statements of Stockholders' Equity (Deficit) 8 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements 11 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 42 Item 4.

Controls and Procedures

Controls and Procedures 43

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 44 Item 1A.

Risk Factors

Risk Factors 45 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 74 Item 3. Defaults Upon Senior Securities 74 Item 4. Mine Safety Disclosures 74 Item 5. Other Information 74 Item 6. Exhibits 75

Signatures

Signatures 76 2 Table of Contents Special Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, that involve risks and uncertainties, including statements regarding future events, our business, financial condition, results of operations and prospects, our plans and expectations regarding regulatory approval, our industry and the regulatory environment in which we operate. Any statements contained herein that are not statements of historical or current facts are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" or the negative of those terms, or other comparable terms intended to identify statements about the future. The forward-looking statements included herein are based on our current expectations, assumptions, estimates and projections, which we believe to be reasonable, and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. These risks and uncertainties, all of which are difficult or impossible to predict accurately and many of which are beyond our control, include, but are not limited to, those made below under "Summary of Risk Factors" and in Item 1A. Risk Factors in this Quarterly Report. You should carefully consider these risks, as well as the additional risks described in other documents we file with the U.S. Securities and Exchange Commission ("SEC") in the future, including subsequent Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, which may from time to time amend, supplement or supersede the risks

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements Evolus, Inc. Condensed Consolidated Balance Sheets (in thousands, except par value and share data) June 30, 2024 December 31, 2023 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 93,671 $ 62,838 Accounts receivable, net 43,149 30,529 Inventories 13,381 10,998 Prepaid expenses 5,507 5,700 Other current assets 2,426 2,356 Total current assets 158,134 112,421 Property and equipment, net 2,284 2,087 Operating lease right-of-use assets 5,462 5,763 Intangible assets, net 46,275 47,110 Goodwill 21,208 21,208 Other assets 409 409 Total assets $ 233,772 $ 188,998 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities Accounts payable $ 10,281 $ 4,271 Accrued expenses 32,790 33,813 Operating lease liabilities 1,041 1,377 Contingent royalty obligation payable to Evolus Founders 10,006 8,830 Total current liabilities 54,118 48,291 Operating lease liabilities 4,793 4,810 Contingent royalty obligation payable to Evolus Founders 34,600 36,200 Term loan, net of discount and issuance costs 120,918 120,359 Deferred tax liability 29 27 Total liabilities 214,458 209,687 Commitments and contingencies (Note 8) Stockholders' equity (deficit) Preferred stock, $ 0.00001 par value; 10,000,000 shares authorized; no shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively — — Common stock, $ 0.00001 par value; 100,000,000 shares authorized; 63,052,598 and 57,820,621 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 1 1 Additional paid-in capital 603,352 538,716 Accumulated other comprehensive loss ( 601 ) ( 427 ) Accumulated deficit ( 583,438 ) ( 558,979 ) Total stockholders' equity (deficit) 19,314 ( 20,689 ) Total liabilities and stockholders' equity (deficit) $ 233,772 $ 188,998 See accompanying notes to these unaudited condensed consolidated financial statements. 6 Table of Contents Evolus, Inc. Condensed

View Full Filing

View this 10-Q filing on SEC EDGAR