Earnings call transcript Q1 2023

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Operator

Welcome to the Revance Therapeutics First Quarter 2023 Financial Results and Corporate Update Conference Call. At this time, all participants are in a listen-only mode.

Following managements’ prepared remarks, we will hold a Q&A Session. [Operator Instructions] As a reminder, this call is being recorded today, Tuesday, May 9, 2023. [Indiscernible]

Jessica Serra

operator. you, Thank

the Officer, on Financial from are Revance Toby Joining Foley; call President, Executive Mark Chief Dustin Chief Schilke. us today Sjuts; Officer, and

our in related make During growth leverage, operating potential, injector efficacy consumer therapeutics us, and operations and and and forecast entry and DAXXIFY, potential, other our customer draw preferences duration consumers and and statements, management future conference of to plans sales buster guidance, into will to commercialization [indiscernible] manufacturing ability market, our our this products our including and flow partnerships commercial approval our benefits base, call, team, and strategy success, block our statements and strategic timing. the behavior, our on to the our breakeven, revenue XXXX and strategy, planned cash and of potential the DAXXIFY, forward-looking practices supply indications, of therapeutics the our debt expenses

X, in timing XX-K XX, could quarterly our that Factors statements could a to the risks titled factors section Report Factors result uncertainties. and on as XXXX. results different Form XX-Q from on Annual on report SEC Form describes and be Risk May XXXX the of Company filed the today, of statements from actual SEC differ the those cause in forward-looking the our events include Our these with such in anticipated these materially February and with filed results

to events changes a of future result duty or Revance as obligation expectations. new its or update any undertakes statements forward-looking no in information,

non-GAAP to our release. measures financial will and we is included reconciliation of call, non-GAAP GAAP today’s GAAP non-GAAP on A measures. of A reconciliation GAAP. both to in earnings Also present

call With will Officer Revance. turn of Chief the Mark? Executive over to that, Foley, Mark I

Mark Foley

afternoon Good you for Jessica. thank everyone. results call. our conference first XXXX quarter And financial you, joining Thank

of our to strong DAXXIFY fillers. dermal and RHA by growth pleased execution first collection quarter report launch very the are our on continued of We our results highlighted

we we revenue lead see the million now set produce year procedure as the great our franchise. quickly in DAXXIFY a market. date to in we’re from launched online and for the for at excited growth therapeutics scale, summer. volumes the long-term to to to opportunity to our asset same continued are our manufacturer supporting nearly for continue quarter, see favorable position approaching contract accounts, cervical of time, first our growth doubled healthy later injectables At $XX aesthetics in facial trends dystonia our as target With with DAXXIFY Total and last well for the our PDUFA of this

be for strong The to received launch from is both company by consumers. of continued time exciting program execution important DAXXIFY’s we in and Since providers feedback experience level December, first aesthetic from the we’ve initiated of enthusiasm our critically an an early DAXXIFY and year and the positive standpoint. encouraged we’ve

program recent far preview thus indicative we performance our of believe DAXXIFY’s Between a things. few launch, and is

the number differentiated toxins formulation, neurotoxin, market. highly being shaping peptide to for DAXXIFY’s continues along novel enhance unmet aesthetic with believe its outcomes excitement and the demand, profile narrative without while one ability by anticipated and amount been of drive formulation the innovative with consumers, aesthetics DAXXIFY’s the increasing to on core our also advantage. to First, need We and performance injectors duration has

a has no manufacturer innovation the market in other before. allows that to disruptive way DAXXIFY’s us Second, approach

our them the pricing And effort we out. Based have committed our encouraged continuing of on healthy to approach in we’re prestige and And launch going facial to targeted practices DAXXIFY’s help are margins. just the fillers. so far no to focused very an on wide, we our with strategy, assist accounts like policy, of prove moderate and are advertised line commoditization done maintaining versus with we deep to in measured is injectables into RHA our market that with partnering

forward experienced expand Third, of a in-person onboard this also RHA strategy with of by of the thousands proven virtual our to with despite of partners, COVID-XX conducted customers. collection while successfully existing to market, under we the We and launched sales team have challenges base the commercial Recall team track customers. with team we an presented relationships customers. record leveraging introduction that leading to the portfolio With safely our our an trainings success established and our same pandemic. along base practice DAXXIFY’s further deepening operational look our to the

and focus our continue showcasing to as serves for also customer education while platform our leading engagement, important our plan Nashville strategy. and on and drive that us training we believe brands Lastly, an Experience Center to

Our training, market. fastest to growing on education outcomes products. lined ensuring the is that the filler realize fillers why our the and injectors one the benefit commitment to central full is this of of the RHA We patient collection is innovative believe of reasons

and about the progress, good and very robust position feel which neuromodulators injectables we and U.S. in fillers. includes our dollar billion dermal $X.X both resilient Overall, market, execution facial

remain believe execution. While these focused is days are top on we DAXXIFY’s of hard early us. at very beginning we that with are our the work ahead launch recognize we opportunity, successful a and priority, of tremendous we

of anticipated begun CD. team treatment to the of cervical Turning or for has our the groundwork approval laying our dystonia for DAXXIFY therapeutics,

a is XXXX. by August Our date followed early XXXX, XX, in and program upcoming if commercial launch late approved, we PDUFA preview experience in anticipate launching

necessary in in to for on our In therapeutics, place preview teams, are care process affairs planned commercial support preparation managed of entry our also infrastructure approval. program we medical and out building our the into the while putting

opportunity fronts with all CD relief looking to duration these help sustained achieve and profile. symptom We’re progress forward patients on differentiated and great to are efficacy making DAXXIFY’s the

into market gateway the other a The DAXXIFY’s CD of current muscle over $XXX $X We projected U.S. indications. X%. growth therapeutic potential estimated annual billion is disorders compound rate further in approval cervical excess and us with believe to in dystonia highlight million be movement provide a size of will that with category

With turn Dustin? over I call will that, to the Dustin.

Dustin Sjuts

the Thank performance to continue off a our setting with relationships transformational deepen DAXXIFY’s a strong very launch is first this XXXX to we our up is providers. team’s is the to strong execution you, to proud RHA and and start, year I’m continuing Mark. collection grow, Revance. in of be for quarter.

for Starting being dermal sequential traditionally sales year-over-year, also with aesthetics our fillers, seasonally strong On increased results million. despite slower sales resulting QX a in were market. XX% RHA $XX.X QX of period the a basis

along the deliver for natural collection, patients. range product's results adoption to ability of pleased are see and given gain utility and RHA looking to X the the We wider with Redensity X RHA X, rest including of

building prestige to grow customer's line our and lines realizing our adding their continue our in be both by policy. look of our encouraged DAXXIFY We to underpinned We synergies the filler our is success, by forward continuing under excitement pricing and which product to conviction advertising and mix. to filler go-to-market neuromodulator and commercial on product no strategy, combination, their our

exclusive are preview following majority came $XX to to prior of and a of year. late thousands launch preview where XXXX to spanned in commercial for the of this was tens volume accounts our to DAXXIFY first our product. early access, this firsthand this to December we and the March Turning initiate as phase significant onboarded result quarter, advisory Despite Recall of pleased experience experience treating and from innovative DAXXIFY, the revenue of access over this million patients, program practices during sales conclusion phase, or QX gained from our that in launch. DAXXIFY gained with select report

a and key insights outcomes that transitioned to key learnings integration. guidance led The seamless on advisory focus program optimizing we as us launch invaluable commercial and with practice provided into

We including on duration, and early feedback receiving from overall onset continue of outcomes. DAXXIFY, encouraged the by to we're efficacy, be skin very and experience aesthetic providers consumers their positive quality,

launch off To date, providers anticipated been on has with in as highly priority trainings. kicked a we interest live of late in-person no March from our there commercial shortage

supplemented these million million Fintech the our Platform GPV Further $XXX of trainings we virtual in engagement months. first options. processing volume GPV our quarter customer to trailing generated gross Additionally, for the with of $XXX OPUL and order enhance for training options in-person XX or

very To reps. our quarter accounts ending we strong by I'm aesthetic growth, organization portfolio Overall, momentum ongoing X,XXX the commercial portfolio. continued over sales across that approximately XX with our our our sales pleased support expanded aesthetics results with

Our field XXX-person force plus two key expanded will recently objectives. be focused on

fit the billion going the our the neuromodulator with adopters highest that new with long-term adding also targeted and This to $X intention. share accounts aligns means within deliver deeper driving U.S. our best by within allows approach for growing believe us partnerships. and this profile market strategy early DAXXIFY First, focus adoption of by ROI. our We the

cadence adoption of sample, it's As important we deeper to but vary, for process can standard launch the typically and accounts adoption. trial follows scale that a our note training, then

training gained of significant to indicates continue objective growth. RHA strategy, the aesthetic education. demonstrating our differentiated outcomes. the share have Collection have through have the penetration second by Our adoption continued program Through market product of Customer its full our utility, and realize training helped them is product supporting benefit and feedback headroom optimal market our properties and we for quickly

With the portfolio and selling opportunities. addition our DAXXIFY of

infrastructure, position commercial finish have been In quarter. the operational pre-approval approval FDA's the we support to CMO, we our manufacturing or for that March, our bolstered for growth supply DAXXIFY. also Ajinomoto very to was with Biopharma pleased fill great produced Aji are the use chain we're all to has inventory a and the approval by in during Aji of Turning received our released

Toby, our for that an announced Before glabellar Fosun Administration. I turn national the call review accepted over with provide BLA for partnership Injection like update lines April, was to DaxibotulinumtoxinA Medical Products I'd Pharma. In Fosun by the for on China's for to

our We their to second for which largest continue partner in China, product efforts with market in globally supporting Neuromodulators. our commercialize the remains work to

the turn financials. Toby quarter to year call full cover first I'll that and With our to over

Toby Schilke

to for quarter revenue, quarter collaboration increase million the service million, DAXXIFY you, revenue last period increased representing a included revenue. Collection revenue, and and $XX.X $XX.X the $X.X of first million Revenue of of Total Thank RHA revenue $X.X from million due XXXX of million of of for XX% Dustin. $XX.X sales the same year the was Collection DAXXIFY. sales RHA first

was Aji's cost will incurred occur QX produced in DAXXIFY related beginning with incurred a of our product facility our prior launched manufacturing With until revenue, cost manufacturing I'd product of revenue items is begin approved. capitalizing with DAXXIFY to couple inventory our period costs and When expecting note Northern been as – facility Similarly, approved, XXXX. the in like our R&D now used, approval DAXXIFY California we approval increase. had of costs expect a to GAAP DAXXIFY to we recall the Aji we at item product to accordance

XXXX. OpEx. $XX.X GAAP million quarter to for the first period OpEx Turning to the compared million for in $XXX.X same was

compensation, stock-based million year-over-year while for by increased million basis, leverage to OpEx growth, and for leverage pleased amortization we depreciation, XX% forward. a see launch continue $XX.X revenue, our expenses as operating On by last increased non-GAAP expect was improve same of quarter and costs non-GAAP our We're compared operating Excluding the to a realize operating XX%. the commercial result scale period first as to $XX.X we our to of in operations, revenues DAXXIFY's going year.

be As to million which costs OpEx and we stock-based revenue, depreciation, stated, previously non-GAAP exclude OpEx, and to $XXX be $XXX we to of expect compensation $XXX to million million XXXX amortization GAAP our million. $XXX

is development expected $XX million. to XXXX and million be research $XX non-GAAP expense Our to

QX Turning ended cash, we to in with million investments. short-term equivalent our cash $XXX.X sheet, and balance

the indicated previously tranche our break anticipated with purchase position, expenditures, $XXX and believe our be portfolio committed agreement have we even. U.S. will revenues of our note two we additional funded current cash to our and As million aesthetic

XX, with million of XXXX Revance's were common excluding diluted approximately fully impact Finally, of shares XX $XX stock convertible debt. the April outstanding shares of million as

turn I'll the that over back Mark. to with And call

Mark Foley

believe look Thank we well you, year. very which in later and closing, are approval, positioned growth into our the injectable CD this and market, therapeutics to we market and the In excited are continue upon forward year Toby. to the facial about share we gains anticipate ahead we that expanding

outlook on will potential enable in right September Importantly, aesthetics of we to you our in on forward to franchises to the and blockbuster Day market. and year the execute our have our and going that updating plan dive our us on plan we forward. products U.S. and provide We deliver a look and host people, therapeutics strategy deeper progress to believe our this aesthetics into an Investor

questions. for With now call that, will I open up the Operator?

Operator

Thank We ahead. from have Guggenheim. you. line Seamus do from Fernandez you. the [Operator Instructions] of Please Thank question go a

Your line is open.

Seamus Fernandez

Great. the questions, Thanks quarter. congrats the for and on

sort of just broad? of a and accounts the – talking in team questions preview give how there accounts the Just the what color number and about of full to could a of couple is Maybe of going prior quick terms we're of the you potential in how about talking of little in expansion of deep us bit terms were many terms when instead launch.

then question. And just second a

XXX think force just you I would you're field and to size think that that's the understand maybe Thanks. help fully the reps mentioned force? us anticipate that you I accounts many of in field you operating of with field. going Can how resourced touching if with be sort

Mark Foley

thanks Seamus. Great,

So March, got we setting. communicated. that previously be where We advisors to off use a a of real small we're in group preview accounts, is in kicked consistent a were the one-quarter with what preview into going in as we December terms we that with to of said the number sunsetted previously plan of to was get world and designed going we when experience which that product

And roughly the were accounts quarter evolving. everything's fourth near preview And launch majority kicking end that so on-boarded or prior really ended encouraged launch the part that we we're so we launch off scripted now in XXX we and of then program. of QX, But moving in into how said up we our and with to volume remarks the in on on-boarded full we're accounts sales as call, that our March. as the the and tracking phase comprised said

target, digest a per but roughly look We force. of of necessarily of were we've has what to have able internal you force they the been kind it, XXX sales sort if terms an when accounts sales been In that's expansion, don't at adding the quarter. XXX-person

have our products relationship services. So DAXXIFY we we with a start launch with X,XXX where the and across roughly accounts

And where a that be we given with start. that we've folks got will relationship those

said about group the XX,XXX roughly With we to launch. portion, talked with we're accounts. prestige We going being pricing, we big that the that the defining no think DAXXIFY advertised that's there being and segment after rollout and XX,XXX

RHA the volume so little that continue U.S. in size facial to and group we for And where and think also focus be to then regards DAXXIFY launch than said will the target we believe we injectable and of comprises fillers both toxins that XX% that with And more group accounts to talk the a that go more maybe bit broadly. we're we on about over from XXX here. with how we to And the I'll and that sales him kick about reps, of a Dustin from going total to it have number and

Dustin Sjuts

I right. think – Mark, hit it I think, you

XX,XXX have. and time we With the perspective the you from to point a rep keep right between to kind we'll this target or what's of being each XX,XXX determine with evaluate feel about force the starting the productivity year going but good add accounts, being

next So we'll of evaluate in to it XXX productivity we of can, territory number that up kind feel go from kind continue because get our we can us But that and where terms phase we're to good DAXXIFY from RHA. with accounts different within kind the each now, of share possibly step to will they call to slightly market about at of to This focus this will allow a – accounts of XXX. driving on. around is of deep this as perspective then and be as

Seamus Fernandez

follow-up. Great. just one clarification And

account off that sort XX preview the from last with fourth was alone still the so basically the So anything. the of then like to the year. that was now it Is of preview of we is next the quarter of of XX an of just million side assessment And through? kicking million first sounds incremental us went the – what launch sort from the basically than in took full week more so And kind booked April accurate the the where account program. leg

Mark Foley

the Well previous demand we're purchases with to RHA get in because commentary made sampling, had time, And trial as back I stated We practices that go their saw launch of I we'll the early going the fact listen technology we because product. purchasing. it's with surprise we training, accounts that tried to a about and talked we're said pent-up the were now we then that a was, a I there. consistent onboard you December hard. we move the the that most and and fully get not these they know well. directional adoption ultimately product, we'll be determining the really what because lot launch don't of new accounts how into a and of into But experience the – And if normal meaningful to before as the give to first phase specifics. the we at with that any pleasant were had was will product think

in encouraging us of QX majority prior accounts purchases though of to launch. we sales QX a the was is on-boarded was What that up that in volume to had from the made

We've And phase, now kicked preference towards onboard launch off we which a – many and in although in not bias March. how are, a a have we're Nashville. did those towards training accounts in-person we said in here so

and now and we QX kind And those again, hitting from into trial the will they as again, where traditional accounts then But the the a they on out that group. our support preview onboarding have sort going of based stride forward. go do in QX their reorders of more through encouraging they'll would will them, in sample expect move we get get curve they figure a adoption we the launch, in trained, that we'll more will as

Next question.

Operator

you. Thank

comes Barclays. Your go Balaji line the next of from from ahead. Please question Prasad

open. is line Your

Balaji Prasad

made that users? what physicians on got to Mark, phase firstly, your changes based from and launch specific your Couple questions. feedback you the for have Thanks if been phase commercial any afternoon. preview Good from Hi. any

get love also commented sense of year? what versus you in also enough a decide any add pricing reorder? to the from Thank the to ones of for most give rest would accurate you in feedback you the orders on-boarded pricing on you. orders information being new the split and do a more you Secondly, I have on you reorders just December. And Can QX queue between on

Mark Foley

Sure.

that was from trials only preview we what to integration, in of and in product in been practice two pricing, the learned as primarily one and product, upper phase the they the the terms DAXI given interested things are of program. really position second in of the One was used clinical preview, reconstitution, So part we main clinical how performance had customers.

And from so awful this we the and preview journey. this learn early lot along group work an that we advisory did

practices how And the so encouraged approaching their their a by while getting level, some it at seen patients they other in differentiated range of reconstitution that our using how range with we've to we've But what areas. seen with And from other of the a seen profile. in we've very with product very levels. how performance neurotoxins. they would still terms benefit consistent We've they're ability been similarly terms are is high a of do neurotoxins, treat the approach other

we've sharing have so information. And and for forms all that that up wrapped provided

those pricing. One you that of mentioned is

profitability previews their balance we're do had out what think we're is, So both they that given some from right at X.X. some to the current figure they're for that targeting. the think that And charging X.X in every their I consumers practice, X outset and charging we to neurotoxins, they're trying times of that

settling more the And as would that probably into conventional X.X neurotoxins that a say out market range. the there. I there's but in a imagine, people will can average, variety prices you of pricing's that's of pay again average, more times on on you see different

awful phase and reinforce, we phase, everything feel so we've some the was the we side be been and little going get that of experience. crisp to launch early were we it. of bit time we it the the – for this next a messaging are and that allowing program lot continues able right through and to really the now up through to onboarding an And around that right as of group to disciplined smaller a just And learned

at we just that pay volume for In we price that on couple time. are terms a to of that going the feel the different the with continue points of they strategy right Where in RHA customers any given have pricing buy forward, like now. point there based

people or a to Of want they there's or to that things not products contractual to we're the term they right or But a partner make best where get now they at want really being other we good the they course, price standpoint not longer to we'll anything bundling volume want when whatever minimums continue can And optimizations them. from like feel whether that else. improvements buy or think we is for with obligating evaluate pricing. we're

right now, strategy And for so that's the we be for think it's and strategy fillers. right certainly proven the RHA to

the In early, by we're going it that I to forward. going come the from our feedback the going, get and we're strategy reorders, terms level of again consumers launch but that just very how – from the the reinforce very continues granularity. not we're early of getting to injectors, It's and we're to, encouraged back is

Thanks, Balaji.

Next question.

Operator

And Please Thank question line comes Shibutani go your from the Sachs. of Chris from you. ahead. Goldman next

Your line is open.

Chris Shibutani

in across sounds Again, of very it revenues March varying, as accounts just on expanded recognize presumably end the you so the to you little there. if record the in do be you quarter, Can different the orders when first of way the terms within volume say at the the that? is of of clarify something was there actually revenues clinicians when Great. included

familiar a have dimensions? to the ultimate sizing go of opportunity a question going perhaps cadence aspect, how And with but I'm and would bit expansion and similar I'm familiar less like of the opportunity you prestige framework, us in look It in the can relative training there. of segment. of into most the therapeutic the like. terms side, go that dimensioning of with understand that's then some a sounds the you can what therapeutic how for scaling aesthetic from, the Again, therapeutic a I sense terms a having you give of

Mark Foley

those, Sure. Thanks Chris. for

recognition, order. revenue So of revenue recognize in when practice the terms precedes we the

received in, and revenue and So And you'll these that or other we see or don't we ordering patterns. there's results product are accounts wisely, they've until third-party and we the the And their ship in cash middleman it. things. actually different take order no manage recognize again the try stocking flow

order Some recognize on a order of like so it received. quarterly, some when to other needed, on monthly, sort as we the revenue and order is

the on for the versus want cadence as then launch And reimbursement side, piece. we do to program preview to therapeutic of that the relates the is it difference there, the therapeutics one aesthetics

have get already in team And working so we get the can in when market there approval providers we sure with over this as on place that that make given we But put time access then the the who's is grease started and based to skids the to start possible. low side where that on a how cervical dosing condition dystonia injectors works. well typically dosing increased frictionless as toxin

But believe our in the program launch. we Investor will in September, into the we're volume necessary foundation need to some subtleties make differences high in preview right putting we successful more infrastructure focuses on there but a to information sure that get we there. our that be get that that Day and will We for injectors, lay that the

Chris. Thanks,

question Next

Operator

Please ahead. next your go with line Ku question Cowen. And the comes Stacy from of

open. is Your line

Stacy Ku

our taking nice and for thanks Hi, progress. congratulations on a questions

Mark Foley

Thanks Stacy

Stacy Ku

original and that So, just the areas program on group? informing the be you messaging any broader the additional previous a clinician Hey, messaging appreciated. the to is question. how training up the First, preview of particularly detail from follow specifically of face the nuances more other in dose, would expectations patients discuss now refining about a can in

very but be any thoughts would previously, spoke You’ve updated helpful.

tiers it include more the profit commentary, and different your than might on seems situations based where do like DAXXIFY pricing to then And practice even able incentives be the on BOTOX.

in about we those Is will over that XX% as accounts as should about higher that ultimately the be X,XXX Is these the for volume possibility the accounts we tier of to practices? about highest fair of we about majority majority term? think thinking that it to volume we be a deepening of the broader time orders accounts? think talk premium assume get as long pricing how So the

then potential discussed DTC the launch. last the on second of half this year Dustin, question broader you’ve for with And the

just other your you clinicians leaving of messaging the about you of individual much. versus the with group? regarding key preview – Thank aesthetic DAXXIFY’s it profile the so maybe can from of expectations balance practices other to talk and learnings to So, communicate type some

Mark Foley

Sure.

I’ll Stacy, two Dustin over one the on first DTC. hand So hit then the and third to the

through on the terms the of example, of in what incorporated So, how others and one what it. hard and original are I’ll hit that we for side training learned of in it’s we’ve in, to sure preview for terms pricing paying. Again, know

to think say more on going XX% to So there. we about the the expensive we’re be average we XX% to practice than market out leader

different amount obviously it, amount because the of how from can much us, really depend of – how they from providers they haven’t pricing us information. whether they’ll on least And on And by that we publicly get buy any the have at much published all given – depends they time. that sort their buy or buy greatest it in based vary on so although then what And XX% the point will product.

have So, anytime they fall to based us, make a what into. to how they pricing much make buy want from purchase to a they product tier that that they’ll on on want decision

that a things of One what And pricing we’re for into current at X.X of X.X that from, full in we is said finding of instead launch example, to originally practices pricing you settling the we’re variety have is X from where that know, their ranges we are range. toxin. the we it times shared, times the most call learnings have their cost

the where make a integration we’re talk about effective accounts so of learnings on of group. and that And it’s to more able, we round like of what on some think side we the more on-boarding of those next that from efficient where these lot practice things original learnings based the

to pricing they think we’re do tiers? into fall are asked, practices And side. the so, that on price you’re that will volume, going depend that you tiers typically and selling our how on meaning Again, the on assume we I higher high the the into buy.

once Some, best only product put price frankly and try quarter, less about they tier would buy optimize the be comfortable and highest for on and buy will to and rather might the when example. as get shelf. inventory will care will don’t much more need buying buying it the so Others that they a

stage. our long-term to they practices are make And again, we to so on to similar pricing right at us they obligate commitment very any us to the side. now for And have right tiers, the this think tiers RHA again, don’t

And over on DTC then I to throw Dustin will the side. it

Dustin Sjuts

like Well, on how to are novel say with social some side, as we’re DAXXIFY. liking would testing and also consumer. first we’ve those hearing happy to consumer patients the with peptide formulation in pleased messages We’ve and been been resonate channels best and that with that their very treatment market what it around the our messaging I relates

assets, walking that augmented DAXXIFY. about So we assets accounts, well the to that of feel also marketing more both organization those our that direct-to-consumer will our as good about digital likely outside providers via coming can more sales but want in awareness will talking for provide consumers that out be provide testing as message practice

The So, uniqueness that of more back doing any an neuromodulator as half back more the feel forward of have the to the that that’s and year. we’ll that now in message half first the there today leverage thing we a is we give the other the that of and we than in be like looking, look sharing to in of is different year. for great opportunity marketplace, time

Mark Foley

Next question.

Operator

go question comes line the Amsellem Revance Thank [ph]. ahead, you. your your from open. Please next Therapeutics is line David form of And

David Amsellem

Actually not I at Piper Revance. work Sandler,

Dustin Sjuts

to going was I say.

David Amsellem

up Maybe Yes. I’m the world. in moving

A questions. of clarify things in I missed I to wanted couple them. couple So, case

First, many at about if I can that missed present you talk beyond how disclosing accounts trained? you’ve know don’t above if that or I and that. preview you’re

the training the progresses? be as secondly will you year terms the will over in evolve Nashville of how it think Then that how do in practitioner mix site? at time, much versus of And

And obviously think I the mean, the something question, so. a in then an a or And lastly, share XX% ramp. Europe had just is around RHA back, step taking nice I product

RHA thinking Thank in So latest overall how you would there States? Just peak helpful. about be United thoughts the for share are you.

Mark Foley

Sure.

in forward. two many or least I of of a that for a accounts. we going we’ve number how while expect that. we’ve now total will at there Opel something we not is little number terms our launch give March. in like reasons total that And for preview accounts the and platform just don’t trained accounts We’ll of with RHA disclosed that’s the between talk with And and have So

two is number able roll is reasons, everybody once. aware we’re One at you’re product out to and not to the all competitive

onboard And yet. obviously so have do we and some them to able been accounts anxious the product get are not that we’ve to

step look that in won’t this so steps and And and several be onboard you you is said, and into didn’t wants terms But point. sampling want as is bringing we that adoption. that’s at and training our ultimately if there’s result to that one, patients getting through reorders and whatever And step at disclosing higher product to we orders, the of ability we of to turns reorders level two, disclose the comfort that then and of trialing practice level go sort in accounts reorders.

and would they experience the that traditionally versus we’re we orders expect going without we the now their behave so, the And we that from of with having is group product excitement saw saw to gate because where accounts onboarding that preview big had. group of of that fashion the out bolus patience in more what the any

onboard And way people continue that so expect time. that predominant to be we to over would the

of also And will the in appropriate way between and our key virtual for want to additional most listen, an folks them flexibility virtual, possible. terms mix in-person for engage the training customers we be provide within to account. In

the trained. have be you person then here other a they they virtual So, people want might but have will to trained, injectors important. other somebody that to or get came get practice to in having Nashville And in option

where we just we think that a can is to of provide the a continue Center and prioritize will more We onboarding likely can be process to focused, we effective. better because dedicated period Experience Nashville more think time provide experience

it the different all we and the that a access makes Having that said of in that get lot we want to sense. pace order we, of of want, we piece to injectors that, virtual meet the onboarding to recognize

person, have fairness, more be tips just terms with and So, on we role too us the had follow-up but in probably we’ve of in to X things weighted RHA. as in to out take front listen, have of going is that Version will it more end while tricks do allowing done And a we’ll and would virtual, in probably that. out to effective guess once that people we in think there probably go predominant over think my people it’s like and both a be on learned time that. trainings formats have that I for And we’ll

of time RHA, the call that share from RHA XX% are of right, EU sort said five when in we us. terms of licensed we market TEOXANE, that’s for X%, they at line it good a did we that sort of you fillers top say in markets. In And that goal had aspirationally

where there XX,XXX We’ve and we and look we’re to this on see we, segment going QX, room now able XX,XXX it accounts up we’re we’ve you in to kind to been at of exited hundred we’ve the If of right lot fifty a prestige which is accounts. run. the we of get QX after, where continue and got kind talked five right with to that call about that are

in to up in definitely have where doors the are that will going leaned more market. ones straightforward. with groups those clearly us open we’re us, out be probably DAXXIFY first the that it’s now Now some for

that. know don’t I So

share, the to we comfortable guidance is like room more peak where a around with lot at still run We’re definitely there point collection. RHA but giving a we’re feel

Next question please. Next Hello? question.

Dustin Sjuts

you, We can hear Mark.

Mark Foley

Okay.

operator. Just waiting for

Operator

My apologies. Thank you.

from comes Stifel. from line Annabel question Samimy next the of Your

Your line is open.

Unidentified Analyst

Hi, into didn’t how train you January this virtually great at on any Did or I rapidly the that is two realizing preview. Stacy our in during questions a up or Thank you such are approval of fully And moving as stages for trial Phase indications physicians clinical you Congrats previous X, calling position and question therapeutical on And following-up guess are pick a the forward or on now train the end. waiting launched? initial March the other CD February you training for launch? And did in just Annabel. considering limb corner. that time? to you you. restart upper of as in commercial in

Mark Foley

Sure. Thanks Stacy.

preview that with as indicated, the here of focus them messaging one have, on early on So, number designed to limited side, experience. the get really is program preview is and the is a the here product kind we’ve roll we thoughts the out to a quarter letting

talked site. we help the that as were had, virtual we train again and about really of So was in the did some onboarded we’re We we now to well. the onboard in numbers on that attended that. practices additional there in March injectors accounts trainings, that some had virtually some we they training part did that March priority into launch have where educate But as but rolling in-person

right And so, be we’ll going there, priority on to is the continue feel to evaluate again person. balance the but that in

that Phase we market the to other to program indicated better to current agency what indicated we’d for we’ve this September our in category indications the clinical our again, well, informs CD program, we’ve is that from differentiated get given the X with that indications, time. wrapped clarity as therapeutic and thinking product the but profile how terms and that’s we’ll at of strategy. the And of Phase In performance more into Investor that drive get terms understand X and a trials in like penetration with the therapeutic ability adoption have and of Day ULS up therapeutic into in in our additional

Unidentified Analyst

very Amazing. That’s helpful. you. Thank

Mark Foley

Thank you.

Next question.

Operator

question is go line line open. from Stanley. Terence comes of And ahead your Flynn your the Morgan next from Please

Terence Flynn

the comments me, the trends you a at you couple just wondering terms point. your just Great. seeing at there in was if what clinical this I comment but versus marked early is you then all of insight And March line in on maybe Thanks so know much for you if prepared about seeing on at if better April or what any you’re about all durability. taking comment I wondering can for made profile my questions. Maybe are that. some with remarks,

guidance. you’re how us in point remind is possible something just Toby, XXXX you. thinking or about Is some revenue should Thank it then we this year? And that at later expect

Mark Foley

Thanks Terence.

the At calling that the terms weakness accounts procedure of QX in you not business stronger there we’re know, always in quarters. QX, and quarters, being that of as terms April we slower In seasonality lens any is in the and on, QX the trends and seeing least aesthetics volumes. being trends, QX we’re have

launch accounts we’re by by DAXXIFY encouraged encouraged And we’re for And launch interest that so, the calling on. support that way the our be we mode we work the and ongoing volumes in in to and procedure through continue as seeing we’re now phase. the

those but a it’s expect stronger see that QX. would early, So will trends we’ll we QX be continue where to than aesthetic quarter

see around months program, which to the get – seeing some you’re months, go to the we is a out where more going consistent what than in patients not six we’re our seeing of with less duration, and six hearing we’re neurotoxins expected but other going we’re the terms right be see feedback with to the how far far you’re seen In and SAKURA and very see months little those. out, duration, results that enough what we’ve that where of a that yes, now the six and medium that you some get media with than bit same range is duration

we’re encouraged thus out duration So, terms there we’re with very in hearing far consistent. profile what of being

guidance. to I’ll it Toby in of then the revenue you And throw over terms

Toby Schilke

juncture, giving at of And the going U.S. dynamic this interplay were that market. Yes, I stated of revenue neuromodulator brand in beginning pause launching DAXXIFY. guidance the year the long-lasting had we and on between at we to collection a put the just new the RHA given think, a

a there would to provide our we more we’re hosting. on guidance said consider outlook little I guidance. think remarks we prepared bit planning that I continue Day that we’ll in on mean from to then our to And give give give giving when Investor September

Terence Flynn

Great.

Mark Foley

Thanks Terence.

question. Operator, question. Next next

Operator

further so our to you queue. this At much. Thank I hand back the speakers. to there questions time, would in no like are

Mark Foley

look we and you the you forward interacting ahead. months much. your with upcoming Thank for time everyone you in to Thank very

Jessica Serra

Goodbye. Hello on? is operator the

Mark Foley

call has The ended.

Revance Therapeutics (RVNC) 9 May 232023 Q1 Earnings call transcript