Revance Therapeutics (RVNC) Misses Q1 EPS by 3c, provides outlook

Revance Therapeutics (NASDAQ: RVNC) reported Q1 EPS of ($0.58), $0.03 worse than the analyst estimate of ($0.55). Revenue for the quarter came in at $51.94 million versus the consensus estimate of $59.39 million.

2024 Financial Outlook

Revance continues to expect 2024 total net product revenue, which includes sales of DAXXIFY and the RHA Collection, to be at least $280 million. Revance continues to expect 2024 GAAP operating expenses from continuing operations to be between $460 million to $490 million and non-GAAP operating expenses from continuing operations to be between $290 million to $310 million. Revance continues to expect non-GAAP SG&A expenses from continuing operations to be between $240 million to $255 million.

With cash, cash equivalents, and short-term investments of $277.1 million as of March 31, 2024, and anticipated revenues and expenditures, management projects that the company will be funded to cash flow break-even and reach positive Adjusted EBITDA in 2025.

For earnings history and earnings-related data on Revance Therapeutics (RVNC) click here.

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