RVNC - Earnings call transcript Q2 2024 | Revance Therapeutics, Inc.

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Operator

Welcome to the Revance Therapeutics Second Quarter 2021 Financial Results and Corporate Update Conference Call. At this time, all participants are in a listen-only mode.

Following management's prepared remarks, we will hold a Q&A session. [Operator Instructions] As a reminder, this call is being recorded today, Thursday, August 8, 2024. I will now hand the call over to your host, Laurence Watts, Revance Therapeutics. proceed. Please

Laurence Watts

operator. you, Thank

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

this us, consumer future efficacy, and and expansion, capital strategic and therapeutic products, needs, and plant including and XXXX commercialization and behavior, including strategy, forward-looking revenue, success, adjusted related During EBITDA, operations the market our and and duration, guidance, our plans product consumers expenditures preferences will future timing priorities, our safety positive value anticipated of ability benefits take opportunity to products, to anticipated to reorders, quality those our of related and and of and expectations statements, to and adoption expectations the grow share management call, practices plans. skin statements our make our

events Factors the duty anticipated and Chief GAAP turn are non-GAAP result described Revance. and uncertainties. result results the in that, Foley, With the non-GAAP any actual from forward-looking XX-Q. to expectations. Officer both and our be statements we financial will company new cause report Form and to GAAP our its update Form events in to measures. these of measures statements forward-looking obligation in as of and call changes no call, different XX-K timing Mark earnings future present Mark? of Revance statements I such of report will those or in a Reconciliations President or include information, quarterly on Also Our differ a included factors today's that over results release. these Executive as on on of annual undertake materially to our from risks could these could

Mark Foley

you thank second you, XXXX conference joining and our Good everyone, afternoon, quarter financial Thank results for call. Laurence.

bring period the in which the was up and year-over-year. DAXXIFY was for of our attributes of quarter DAXXIFY product continued division million, competitive to with sold and Revance, strategy second pricing. broad net on audience and quarter implementation year-over-year our based by another of Aesthetics second of strong show progress strong to product $XX.X XXXX revenue up a The XX% led aesthetic growth units continued to XX%

from feedback due reveals our comparability DAXXIFY existing not the price field are product positive be Importantly, to adds but fast that DAXXIFY's skin accelerating and attributes, reengaging continues new to onset quality. practices account and improve only and increased that duration, namely appealing with

consumer see injector in accounts consumers on quarterly encouraged represented competitor In that and DAXXIFY aesthetic more sales quarter, coming now in existing been to utilization treatment drive the preference without several basis a as starting new with quarter unit have Importantly, account pricing of and both and activity revenue strong we annual reordering we in patient through than interest. meaningful by X/X are uptick and benefit an were both cycles, second the prices line couponing. of the

RHA as X campaign around editor Lyft of promotional introduced Turning year softness. Collection X in April, a beauty #X for filler savings growth for out in overall filler procedure with well activated activities. despite and The of and to rolled U.S. also beauty we launched healthy offerings. promotions. HCP Augmentation we training launch experiences, filler To support market conducted as the experienced last activities, events we compared our indication, the consumer these RHA Fullness, lips Starting the and Lift the RHA performed to framing Along

representing our a RHA million quality performance team's quarter stable the of the believe to growth in $XX.X profile portfolio, RHA of continue a foundation initiatives. revenue net XXXX, second execute, We was and that ongoing XX% for product to ability year-over-year increase. combined commercial with Collection the provides differentiated our

across of forward accounts our ordered quarter, RHA with second The the launch to portfolio our program, the of DAXXIFY. existing which use but runway was X,XXX like that Savings DAXXIFY, end that forward. accounts. also not over significant portfolio leaves the Revance's totaled has base account further ordering these going accounts base, pleased aesthetics accounts grow we incentives program to to penetration accounts received, deepen in This with quarter, provide in company Further, to first and continuing well additional have which to purchased initiative, we The were quarter Beauty X,XXX. over to our of both our the only number designed and and been programs look us ended at Lastly, expand to

franchise. Now entry our cervical our neurotoxin into therapeutic let for the U.S. billion the of the DAXXIFY launch to commercial market. me of announced marking $X.X dystonia, therapeutic turn In we May, treatment

such, innovation provides unique our As the a significant for marks market. and decade-long the dystonia opportunity to mission cervical revamps DAXXIFY our of culmination to bring for therapeutics

sustained achieve guidelines, treatments. This Although in every wears labeling X of toxin fact patients typically the between the injection. to though can for product the toxin even due to symptom weeks remain treatment benefit off only dystonia, cervical occur toxins reimbursement to weeks is current and XX standard therapeutic after that XX on relief struggle based care of

control the significant drive inability As formulated and first patients that offers a disabling option treatment and to frequently a symptom DAXXIFY the pain, for a with safety duration with this compelling of to patients long-lasting the improve that the social neurotoxin result, unmanaged new chronic the condition. can leads with physicians stigma work. to painful and profile, peptide potential a favorable is symptoms only lead and providing

report response also and a safety Phase deliver program of treatment up previously control to preview program. duration To their already physicians and second XX% importantly The In DAXXIFY also need many May, third reordered accounts that clinical neurotoxin weeks purchasing optimizing that experienced large practice to smooth U.S. ordered integration. XX XXXX, symptom toxin existing August end, patients accounts of patients market ensuring compelling for CD outcomes to supportive full we early we are of hypothesis an announced number our a preview shown commercial has III symptom unmet total preview, we In practices breakthrough patients to pre launch. for the with a that sustained ASPEN quarter, with for our Initial our XX-plus is was patients a early injectors treat new the majority time. have second are on treatment in to Following DAXXIFY approval address continue current experience these long that conventional DAXXIFY. of launched encouraging preview weeks now of and long-lasting number and regimens. of and to report had second there added with early objective breakthrough the percentage been in cycles symptom to profile our greater results Furthermore, continue and of the and with of consistent accounts other patients. more DAXXIFY. experiencing have or date, over toxins with our In that

and payer to front, than commercial the more covered DAXXIFY to reaching XXX with lives. XX% lives reimbursement increase, continues coverage million taxes of to On total increased

than Medicaid the Additionally, Defense. covered. million and is of formulary covered the each dystonia greater XX Department DAXXIFY of administrative Medicare for of DAXXIFY lives with for on been has now XX also contractors the cervical Department Veteran by Affairs national placed

in be the and to DAXXIFY While underserved to nature to in given anticipate Longer patients, CD cervical we to revenues dystonia on major market of continue will initial U.S. make the in potential we reimbursement cervical market physicians, that remain we modest treating continue strides our subsequent bullish bring indications. dynamics conservative dystonia size. and mission term, therapeutic DAXXIFY's

financials. quarter Now over our let to me the hand to second call cover Tobin

Tobin Schilke

Thank you, Mark.

and ended release our on DAXXIFY June period second to an XX% in revenue our financial second compared Total collection XX, million of RHA DAXXIFY million I in XXXX, soft go will full, volumes increase to included $XX.X quarter a call. June Net revenue representing despite revenue. for net RHA of filler revenue, of the results the million million due only market. XXXX, the was highlights collection XX, quarter and $XX.X for press XX-Q Our of for same XXXX, so detail $XX.X Form an ended the over $XX.X this increase

Additionally, X revenue to Total balance $XXX.X expenses we million and had XX, $XX.X million was XXXX, of revenue million collaboration. related deferred compared the June Viatris same net in revenue $X.X ended Total operating respectively. amortized period GAAP were and our XXXX. from months for million, collaboration the X the X XXXX, million for for to $XXX.X $XXX.X XX, June ended months our

the $XXX end $XXX by lower from to total continuing expenses net at least expects from XXXX between of down XXXX operations months expenses non-GAAP driven million, Revance million. Excluding June ended $XXX be expect million. collection and actual non-GAAP to stock-based expects for includes projected Revance $XXX to the were operating to X to DAXXIFY million SG&A sales compensation. Revance $XX.X XXXX, depreciation be operations million, primarily which cost from expenses operations and now million. its XX, This from and $XXX Revance to to $XXX $XXX continues compensation, be operating $XXX our of outlook X respectively. to lower RHA between GAAP revenue, non-GAAP product continuing to revenue, million $XXX million $XXX.X a range of in of the million expect is product be million. continuing to and million and updated operating continues amortization, stock-based expenses

June cash, in to and adjusted plan On in operating XXXX. XXXX, levers multiple $XXX.X short-term EBITDA positive the achieve combination our with provides cash XX, of as balance sheet side, position, our investments of current cash million equivalents with us

with impact common And over of Finally, XX, outstanding I'll turn approximately July million that, excluding million $XXX.X convertible XXX.X Revance's Mark. shares, shares back of call diluted the XXXX, fully as debt. the to of stock with were approximately

Mark Foley

revenue you, to $XXX delivering remain least of XXXX. positive managing focused spend In adjusted reach EBITDA of net product the we half second in Thank on at XXXX, million while Tobin.

to and Operator? short, cervical We are now we gains With stated response will the on and Collection the the and early our delivering sales encouraged and launch in for DAXXIFY open we I In execution, are seeing are goals. I'm therapeutics. up call that, RHA both by dystonia our across on the by focused unit questions.

Operator

Q&A begin first now Guggenheim. from [Operator Instructions] with comes the The question Seamus We'll Fernandez session.

Seamus Fernandez

for So get guidance you a sense see just $XXX the us million how wanted to towards at number. least advancing

a good third a but through we're been quarter. challenging has aesthetics, historically for quarter quarter way Third the

certainly should the down we thinking third how of on fourth of second that quarter make So how that in just flat with would it kind trying business. sense robust the to imply could the we number that a quarter-over-quarter basis way revenue to anticipate of $XXX million a about regular should step-up quarter? be be Or think somewhat, you which quarter, the the get

little with better -- that can bit contribution. how should be then be XX% we get how see that just a about VA you opportunity as of So coverage, a to to separately, us sense the we just a very about thinking see help or And proportion modest likely of we're therapeutic trying understand what accelerate Do that into XXXX? you an Or opportunity as to coverage. still the additional the should thinking sequentially?

Tobin Schilke

Seamus. It's Thanks, Tobin. Great.

the in about the how end we you as So sit don't sort model think here that of on of QX, guidance. XX% we $XXX quarterly to your first roughly we've of million know, number. and delivered through But terms as question, how that, of give of kind to today

deliver break little And us. components. for more I bit half. The a is line so looking XX% into to product in it back we're mature the RHA would

it, quarter given with little plus messaging quarter-on-quarter with And a the growth number move so and the with have new obviously, year. of some we bit QX where whereas consistently expect seasonally we the business the we seasonality are the that that DAXXIFY and that's largest pricing normal see more to of to smaller being in a of growth we're would in the sequential and accounts, going

We're the like And QX so we delivered. we're we pleased where very positioned. that with

half first moving will of of of move about kind the Also, and we through which balance as didn't online, how the the so something your in the back always to we which to half year, gets start that's that year. more to of CD, the that's we've And have contribute to year. but we got come the is starting that question, think second

In mean, modest to terms But sort therapeutic talked of the is about expect to additional be this help. VA the you I and we of going would coverage of yes, Defense, for this the all revenue year. and Department

because back conservative a on great a that priming the and make even made pump on user reimbursement that we've the treat watch, of in sure strides Just paid takes the group side, bill. and time, few playing they though get patients it's buy just the that tends through end can to it's

really impact But to move from be year, the obviously, like as modest. of standpoint we step again, the through we'll what we're revenue the commercial And seeing so think balance we we clinically, will but up. a start

Seamus Fernandez

just do international years. Great. consideration markets are and the for an And be evolving interested. I under talking wondering the potentially global international about of your of approval just have And how keeping can you additional monetizing I markets, acquirer efforts in toxin see sense asset acting, competition approach? couple is this brand But as you a nondilutive see we've towards an one you outside this point. about right landscape to marketplace know path should if as Trying international a question. Australia. historically, bringing Galderma talked potential sale at next as if add longer and get botulinum with into the in the competitive a

Mark Foley

Yes.

kind with partnership outside one are going having there's Australia. might second that sense. that Listen, our start huge be for we We've we We I of outside the the demonstrated opportunity to of approval Fosun what how growth U.S. think the example, don't why that with, decisions. for the partnership to of we're pragmatic first We've and think make terms right good about business in So continue in filed certainly make think U.S. opportunities of

more we on down it And turns it. And sense an options business, get makes mature little opportunity continue so option that the the the then of will actively for also that's side it. if of on going to we out of certainly a of as market, evaluate going that U.S. bit us, think that value internationally. that it's kind we in for path, enhance more And sort think and we side the again, to

a competition long-acting boats side visibility the to side, all raises of have to think going is sort terms lift longer-lasting opportunity In to on the that product anything listen, we that of now, it. of on that right

it's discussion. great the more about about there's thing we The lot is DAXXIFY So -- would welcome more gestation. than dialogue that a and than product

fast in the the before, what toxin. Given we that look lose to extended same control it the onset, just but get skin formulation, peptide unique. the we're we've as duration is And not core think why amount described And that we're you that with the order is for. seeing because important? quality to able is effect really you increase sort get of as extended duration, start you Well, and to the it's important have you're amount where to goes that the ability going potentially toxin deliver of of over

is on And of formulation heard actual DAXXIFY so thing We've about different acting. working nice the itself. fundamentally those that longer with the not are anything

given going again, we're think category. grow we our so And novel be it's to overall we really help formulation, that And to positioned. going think well peptide

for people it. be us. terms good a that provides for that of tailwind think international long us yes, actually ways the good in going more think So we about opportunity different to is a talking we And duration about

Operator

next of Shibutani line Goldman The with question you. Thank Chris comes Sachs. the from

Chris Shibutani

your terms A margins spending. couple and of questions of in

a next theoretically bundling quarters spending then commentary the strategy us is think expenses at front, there give sort margin us secondly, help margin of understand progressing the good to very would the of breakeven us therapeutics anticipation of that spending that marketing line. marketplace. might trying push-pulls to on see are included you shape look what that the on would the spend, can there I understand a Can to what the in presume of achieving gross across think of as be be sense mindful as But familiar volumes effort help a On forward. as seems influencing approach. because of you're margins launch. And you're we several of and Maybe be whether going Obviously, how about increasing, some return breakeven in going the of EBITDA a and your perhaps in market? EBITDA then level and be us some the to in on I understand the type if help your more operating just factors launch the gross the the that you to

Mark Foley

Thanks, little the turn on talk can gross to terms marketing the I over Great. margin, don't on and build it to programs why bit and a then I of Tobin, Chris. spend the on you that in the marketing what seeing. we're about

Tobin Schilke

Great Thanks. Perfect. question, Chris.

was margin, the levers DAXXIFY, RHA One So XXXX. we higher-margin which and to the margin expensed that prior as guided we've the XX% it's X-cost to within with the RHA. DAXXIFY than reported volume XX%, TEOXANE first about gross XX% of combined XX% that into to think a is take twofold. associated about account profile for for of you and which is about SA. approval, towards partner improve sort DAXXIFY. And with around When gross RHA, margin half you shift product long we over is inventory

And fixed the have innovation that's so of generally is get the that collection for gross a how economics in that their RHA they fillers. brought margin they at because

mix So increase terms see of as that that way. DAXXIFY volume, grow to will in you shifts in margin the continues

drilling to down to more method. DAXXIFY, last Secondly, years invested the move taken efficient production several into we've over and steps DAXXIFY

we'll AGI versus that in as able So also in LSE contract produce scale facilities we further get further from with manufacturer. they're in improve U.S., DAXXIFY scale our in with our the our size and on, margins approved And be as facility PCI New we gross able then New facility in Hampshire, the to to our production York. those

Mark Foley

of in QX the think a more what Chris, programs create of seeing relationship, marketing. I is have around sort spend you're in deeper have And and where us help in the on the now like leverage around coupon the create ran drive The Savings going a we more mean, stickiness on Beauty to then I side, steady with we portfolio right state to And accounts think we we brand. designed already now and marketing

obviously we've to things we of got product, if because one flex a want digital that incumbent was lead can better social, like kind that. name. in of But and to in variety to getting so And the seeing, by with the DAXXIFY lot see what But pendent we that that benefits these more. of some programs they're around We're are inform at we're of doing more beginning, of now where also of using we things for we're really the it starting around seeing promotional experience the injector asking the a the is consumers do work. of to we're

so, terms a in We're KPI from good voice. healthy And seeing standpoint, awareness. of of growth seeing we're good media share growth healthy and

And the so, lot we're seeing of a results. desired

And of the to we continue steady-state move revenue year. we sufficient an we've that think optimize that is got the through of balance growth as the it of amount targets have, sort out into built and drive we so, we'll that to marketing

Operator

with The question of you. from line Cowen. comes the next Tank Stacy TD Ku

Stacy Ku

a have few. We

plus So QX. you first, DAXXIFY? for That's believe added accounts can what you up in X,XXX those from we that around X,XXX characterize

broadening focused force Or you're filler are accounts, getting on high the just are you was in just as both as sales the DAXXIFY So quality? lower well. option launching and more accounts it new is that

the added new set? your expectations accounts new and you on there? disclose about of you're the a us So that, definitely the Obviously, you the not QX. your the going I just feel And you're RHA broadening Where And accounts. understand help last, are then disclose is targets launch about to DAXXIFY going How do expect for QX might the follow-up last launch, why performance is I'm broadening quarter talked you us own the you expertise cadence Lip into can't as understand launch? for in kind but the and ascribed how year? of mainly just And to help Just us then rest some the RSH, KPIs, is for that view? growth help DAXXIFY QX? QX the for the understand of of

Mark Foley

Sure.

notes take us let So here.

at and So around we believe, really, account keep QX. I X,XXX of the DAXXIFY end actually, in of I we on this, honest terms new adds, were me Tobin think

got so X,XXX. that's And now we're we've saying that

So seen in it accounts strategy. to new actually, in on night acceleration think go we've and od we the change speaks DAXXIFY,

comfortable a So to strategy where as their and a is we're experiment then people encouraged the of our Again, these combination through the new drive ones. practice revenue with to what with part necessary DAXXIFY it's deeper year. drive in of the go that and balance fits deeper of we're and some going seeing of get

sort so adds actually, of And account that we we with were new saw. encouraged very the

long initiatives X,XXX since will of strategy. penetration. terms said have target new X,XXX accounts, with important growth In QX, roughly the But part we to of obviously, in in our terms still be for an place, aesthetic way DAXXIFY. of market of the in we go that kind end it the of accounts where We have we're accounts a

so again, think thing we the is runway. nice is, a long got, And we've

X/X tracking strong we that in And over came We to so accounts. reordering good reordering also be where want from of right said we of new we're revenue accounts. saw a now, mix terms roughly But volume our accounts. that of in

So that's new phasing in the for about the we target accounts. think how

the strategy, we we with In deeper. were we of that RHA part terms that in back and it aware change spending indicated more that had, of the think as accounts launch the DAXI that go made the to you're that Stacy, doubling I when impact time is, lip and

portfolio. that sort And able the we've phase, in of on RHA now so launch focus to moved we've X been and beyond more now lip that the

got modified the not to hyaluronic designed least market fillers about portfolio And that We're natural to It's that acid out on it's in great of different the look good So around there. we've a some leave artificial. RHA one actually, of think very we very And foundation the things the is the the look. there's people lot training. wanting out of noise RHA. a a more doing clinical there

well. And feeding this as so that's we into think that

about lift between start the terms think in I the that the health So we X, can just leverage think that we've think and we it's to messaging we with that's synergies -- of part and stride how the certainly now the year. of the pricing our back DAXXIFY hit

Stacy Ku

incredibly helpful. quick your ask just responses. I Okay. based a could That's on If follow-up then,

relaunch, many going right you've the that now looking a way is a there pricing are recovery investors Just strategy. I of for things changed are kind signal that of think kind that for that your

think of kind you'll really you recovery? where is of see do still event QX, signal going the a some that So QX Or seasonally it be it's strongest. to

Mark Foley

and basis, level, I on we're seasonality saw ASP are, was see to No, look And mean, through earlier QX product a too, think with that's of to year-over-year would going more the commented growth we'll year. we we follow XX% look that growth for We growth, the I whereas some comparable. last expect line us. balance as coming we DAXXIFY QX quarter the an even pretty given to that to where starting meaningful launch be now we at going though at into year a be QX, sequential

performance year-over-year even that, will think basis. a on I stronger show so, that And

saw trend quarter-over-quarter again, sequential we seeing. expect, the would we the in revenue, with in growth So quarterly But units the year-on-year we're sequential encouraged that and we're both and DAXXIFY. with as growth,

Operator

Barclays. comes from The next question Prasad Balaji from

Mikaela Franceschina

the This And to about upcoming the and and expected Fosun and on is payments time approvals have follow us with approvals you payers do Franceschina could the pricing a commercialization addition for in give associated price negotiation you the Balaji, end, discounts to the therapeutic give for dynamics in will will the and to on the plans. to therapeutic line DAXXIFY aesthetic China because talk a on also that, the the pricing could discount. aesthetic milestone cash goes with between the net still and you pricing for you

pricing. aesthetic and you So how pricing would therapeutic balance

Mark Foley

the want milestones? Fosun do Toby, to you and take the

Tobin Schilke

Yes, Mark.

we the in GL the say indications. both in the expect market to approval of Sorry XX- of for dystonia XXXX. frame has time authorities April a for XX-month cervical or those the indication XX- submitted guided on about a regulatory that to that, so July of Chinese Fosun they Fosun, and XXXX indication

happening, Fosun for both hard will that, with of expect and calendar in that to this working be them we're support we So indications year. approvals

the of of a contract of the $XXX tax contingent we XX%. terms million And million milestone received $XX XXXX, additional December payments. withholding to subject payments, since signed In upfront we of history, total we Chinese of in have

So be expect there some would would we milestones. that

figures approval. the given the haven't the exact approval in for glabellar dystonia per and policy would company expect what China We both of lines cervical we for

Mark Foley

for your therapeutics it's same BLA, we regarding launched question same, pricing us I aesthetic pricing for be and even yes, then what's first. the mean, the is between linkage the different And will aesthetics though the

that so therapeutics. in And going ASP for the basis form in aesthetics what the charge to we driving is we're

and that into up so, And we've everything already taken reimbursement account, we've around set our different that. and contracts

And linkage continue be between the to X. so they'll

Operator

Thank line you. The with next Sandler. question David goes Amsellem the to of Paper

David Amsellem

ones quick from couple of A me.

Do you that ultimately just you things see evolving particularly time? can accommodate in think the about First, how talk the market to a more able landscape crowded competitive the coming in? And over be is landscape. seller to space. with going another you competitive entrant

net that's of that programs you're cast few wondering, to over Therapeutics. and the is terms to This DAXXIFY I'm setting? controlling of as and over Obviously, in that years, one how time, therapeutic priority number to much about on fillers. other And in balance wide development had, is? different think, a spend. for a turning where setting. you with the a But looking I So profitability, DAXXIFY more you therapeutic of then back indications out thinking And how get you're going

Mark Foley

David. Thanks, Sure.

fillers, particularly profile of again, matters, breadth the the the is this I So the of on product where side, on breadth competitive really the think indications and entrance product itself.

we there the think think differences products that some fits constructed looking way and particularly a with well of and products And in hearing people terms some in stand re-density there's and RHA for there, line, are like performance. but continue brand product natural, it preference RHA that reason the see others than and more what the that so for. competition the really strong we we're are out are given earlier, others we'll talked I the to And more as

having terms going only works providing the toxin are accounts to in and not really compelling we to having them. filler think line, with also for be partner helpful into going a bundle that of it that So but a

feel very And we're early again, terms still good. in we innings so And penetration. of

start In terms therapeutic right about to finish. in Therapeutics, right, it of how a while the what's to we DAXXIFY and takes invest that launch timing category, the thoughtful be trying additional from indications we're given you're to

which So that's is opportunity spasticity we entryway cervical is really in into U.S. the for in market a muscle a category, $X and limb collectively billion growth. dystonia, the that foundation think to further movement in And the CD great lay upper lower

And to lot the so these and we able of next in learn we're launch, a we'll clinicians terms with believe in dystonia be partner to cervical steps. going

completed, Phase for our meeting. spasticity. had program We about of II we our as upper end have We limb Phase before, II talked

activate Phase So would to we what the look know program like the III.

And we do when we've some of IoT strategy. the time done to lean then the that right generate so And early think in migraine inform of to it's just to a there it's an that. on data function also and

continuing to the And term, just so think we're earlier, there's long It's to that. very point of, timing evaluate a matter a right opportunity. we and what's healthy your

Operator

of Stifel. question from you. Thank Sammy Annabel next line The the comes with

Annabel Samimy

under I know, sort to have confirm, guess, still them purchased offer any want just the of don't have make I there on change. price the to the all that washed from accounts coupon of whole that. sort so-called you lingering, that out prior I them you So impact of, Is

first the that's question. So

on consumer order savings? bit can How the side Is then comprehensive And second this incentivized together? exactly talk is of as they actual the patients? the program, as of anything here? about loyalty little more the soon is, for a Or it volume in based? the terms you couponing are The they products beauty

Mark Foley

Thanks, Annabel.

kind of QX, are the in terms in we the that's that end April, and So coupon so done. of the we where of at sun with ran setted that

And on there frame the effect so lingering of that. there's for no redemption time because

of unique DAXI beauty of to of of what patient QX. to than offset But it. now training our of it really drive of perspective pulled really from the about bundling recognized education, value So was when of the in lot that's take given side in we It And think Then offset. halo do, The and we take the of was spend leaders to and and bring obviously that learnings time kind found can we'll how It in that more a those injector of subsequent is we and did profile industry that appreciate like the fully from engagement since and promotions, we terms in optimal which of through doing was And is a experience purchases in find a revenue forward therapeutic full savings primarily we're had done. program. a the we across can linking particularly particularly People training performance sort sort we that right programs. lot intended because with. injectors, events promotions. the products the cut program they was a less lot to it trial what effective. promotions of are and program

then accounts in across of share on And so those additional we're And out. at bundling we're able advantages lean the been economic beauty of additional part what levels big the to savings. side, that's in a And folks seeing to that that been roll certain where we like portfolio. we've there's some and the seeing, certainly

want we're and be consumer evaluate right In evaluate sort to but don't we what rolled of we're kind might programs terms that. on and of we're now that go tuned other do, to stay have continuing how We we engagement couponing that's planned to continuing to that about going out, what incentivize sort return ways is. and the to think the of anything of forward,

Annabel Samimy

therapeutic stated number Okay. have I the a statistics. positive could of on in more I just you side. And very mean, one if squeeze

with You your stated working plans coverage, commercial XX% plans, then veterans and defense you reorder have even the you're Medicare rate. are or a Medicaid turn you have

and DAXI revenues guess I was I'm revenues this therapeutics you're if curious there just and So all? little at not progress all residual I'm reporting have any for that you any these the a number? -- surprised

Mark Foley

we I we side, the first aesthetic you a Yes. gave you around growth. -- Well, unit so the off, if at look metrics saw XX% think when year-over-year

on got again, they're in their to you've The that don't system buy even there in launch And through They of amount revenue it that aesthetics. patients time. buy the buy place, a buy volume. so still again, U.S. practices million reimbursement bill. is driven CDC $XXX way practices of that in sure limited make a though So And being and by We these the the May, market, until treat getting that it's to was almost small all own even and DAXI the didn't is pretty they they want paid. when run

X, and paid. So the before wait going X, see full they're get to patients if to they'll reimbursement cycle X they tend treat then

we see so the while side. number group, conservative a these like seeing It's a And practices the we're a making of only and like that lot certain we clinically, these. we're on what progress of reimbursement

And just think it's again, take time. so us we we to -- going

clinical the going we're and going to a it. to to that's think it's while associated with DAXXIFY but I revenue some value brings, the sort take pointing little utility just of that to of unlock be

Operator

Thank you.

Blair. to Tim goes Lugo question line of William Next with the

Lachlan Hanbury-Brown

is on This Tim. Lachlan for

different market, or anything? it? more Is softness seen it I second, Mark, competitor wondering, for changes use it doses they accounts they the well. we've just used where mentioned of So or And as reports about the existing beyond I sort they and the I was any talk DAXXIFY using Toby price being with by are mean aesthetics how off-label think as some more, that across in change you can since change? soft

weakness either into state the or bring latest your it just for both market any and could get there's wanted of driving of So the thoughts and it? sort that you think on to toxins particular the if fillers

Mark Foley

Thanks, Lachlan.

products, all it's used, fillers they So and comfortable ban of how that's it, in these terms DAXI get think the they I with the familiar toxin more with get, more being across.

And to other and administer how so do And and for they they they reconstitution, taxes. really comfortable. on practices how certainly, a of that label sort the that more some people we example, for know we adjust certain it, reconstitute like more the the are use while with all

run And believe We in the finding upper in the the what way in trials we are that adapting so to given lines to to want. other is any facial we're hear practice, that and fashion that Phase the injectors get I marketplace they're DAXI similar they best is II neurotoxins. think a deliver they comfortable outcome within using what

that seen with comfortable how it's the dose. they so they we're definitely they're And like more don't more seeing I I necessarily where much know terms learning use with the reconstitute, I think of they do of how to product, forehead, example. But do We've be have We use of function a for where it. DAXXIFY change in the some that they in heard precise. appears think

where So you it it, you see stays, less diffusion. deliver

see for sure hear And areas the doing is accounts, out. forehead a a think to just get so injection to need time the that example, that people outcome. which And that some but bit points, one forehead, And more smaller to desired the those for we are they we'll range. area, of figure then I broader delivery take is make more little

dose. the solely full are Some

bit. a moderated their have little Some dose

in their Labella dose lines a and adjust Some little may forehead. be different versus

the its that I the with very the it's what be where personality, But those stickiness. own that's a and skin than seeing new any unique product has with of I'm with ours, in I onset so and get see real with like hearing news seeing we're terms kind universally, the is, What formulation product, and peptide. different others, positive of the are a reinforcement quality, the think there's we is that And impact to different. accounts going for saying it's I can't particularly that think that good different they're the

and training. to And make these sure so do try support can we proper accounts get continue we'll we to that and everything them the

meaning in market, some line of combination a out as wrinkles natural. and RHA the challenges market, it's a folds, we to looks spend I on natural. that and It's I fits then the really it's think of consumers of certainly bit it's small heard dynamics looking yes, accounts. the about the that, it number facial we're well And make dynamics again, said overall sure soft dynamic think and not about the of we've some concern of terms an in naturally just very market market artificial And are move because, In And and previously, terms little natural. some product filler expression got with that a designed of still the filler there having. around with indication most the

XXXX. we've toxin to mode. seems think with pretty growth So I we have And downturn an seen And in The the benefit even market think lower feel color, be past that steady. bit hair in cost times back once of I And economic I being it's now think a and where outcome, need to little used the a get procedure. my like they they treatment to in people go. wrinkles it's

drive like in The toxin we the So feels and to the feel line continue little and market product to steady. market put more strategy a print soft. the good got that execution more we've and with the up been stable the growth. has QX, we filler obviously, But

Operator

The next question comes from Uy Ear with Mizuho.

Uy Ear

the you've quarter us you And guess as in well for secondly, quarter the to as is, you for share did able percentage with I XX% this press want reported from first because share came lift in the that would the what And sure, the you that the gained make RHA release be of over what add So account first my in just to thirdly, market guys says question previous as RHA. was in DAXXIFY accounts all overall any XXX growth year-over-year was I quarter. did product? at and

Mark Foley

Yes.

that an... first. account things to hit want do me of side let that I think on because the there's So one just you Toby, comment

Tobin Schilke

appreciate I the Ear Stacy. and and question, Yes, Uy

apologize over that second to accounts have a and numerical earlier have your like your draw about would and the the second confusion that, release. I Before and quarter I we confusion. we to said that ended over attention accounts error finish, to DAXXIFY. aesthetic quarter speak XXXX to We should X,XXX ordered on Stacy's at

and So aesthetic this DAXXIFY X,XXX should be again, accounts. X,XXX

Uy Ear

Thanks clarifying that. for

Mark Foley

it, market we're So past. on the has one the market side that in on the of share reported your of X share question companies

to at you necessarily about is. the the the side, as with I that we So I if DAXXIFY, DAXXIFY, and think it's the little softness that that to thing, the it. XX% debate metrics continuing good, the what we conclude fair mean look continue unit same revenue the growing of think that But seen on take source looks like. that growth it's year-over-year, And a see compare what with that we're given filler to healthy RHA to share side then on growth saw around we've always it I and harder market

most And the on perspective discussions metrics. are of And with think you what healthy and market, our independent what's seeing they're so is you in think are I I sort growing? focused from good happening investors, in of

good in sort the feel a little we're the of so we has of bit that up. a even market that And seen growth softness putting And metrics about there. overall of

different that about is practices around in In of face. for they terms And hard and not lips. product much RHA really line. sort the where even X to growth list, secondly, then though RHA it's on good the because whether and growth do did an saw They have the of SKUs other the portfolio healthy own the XX% training we use the it's We of lips, obviously We to and in have use, to or went is product to know that question used and the X. a across that's promotions treat hard how it. variety year-over-year know some RHA preference know incentives of indication we for their attributed

was that and engagement, saw leverage certainly to translate this the II. while to so usage that And broader something we're we able create into Phase excitement across

Operator

& Company. comes Serge Belanger The question from next Needham line with the of

Serge Belanger

you I when DAXI. guess anniversary strategy around X-year the up first the coming Mark. and for pricing marketing one on soon We're change

quarter profile seen that that then a curious restrictions side, second one now expect price similarly, to again, you we're since you half What injector So dropped of the year but the more of from customers. change advertising kind on And whether over pricing. now ago pricing, you've there on movements stands on consumer your were we just will and year? where relative the the where

Mark Foley

Thanks. Yes.

now sort charging in So the of good we've really actual balance our right of the injectors. on hit the we terms right we're on that feel year-over-year, that pricing the price

that the And in so that's nice into reflected and see settled spot, QX. you a can

right much of see performance" competitive I pricing that now And bit do consumer more little new the we to happened more influence have will buy consumer. ultimately sort still sheer now passing standpoint premium good a but time, translated we're they from of So adoption. in we so pricing we of we're which drive at attributes situated move that that consumer? It how helping that set say to and would a this much pricing that's have have that it line that price, are coming taken where we're to pricing can our with we along product a elevated price giving is that next above out on like wanted what And are practice. seen an whole because and is to bit of little we've has standpoint, to the a at beyond to them from of pricing which the they has, well based But The a range. the levels. expectations how question "Hey, sort the getting being is is lower steady the the sort that that taking

we also like so passed And continue giving been monitor but we're to along to situated. that the injector the we've seeing to pricing by encouraged that's that and we'll that, consumers, where

the change, on we're made from price encouraged that where think as it sort we the as allow also so I year-over-year to that revenue to a up show well And we us standpoint. gains point healthy will annual of come that

the think to it. at injectors toxin," just because trends, promotional about the we're if "Hey, able say, of awareness that to we of it. our me our terms be advertised next-generation want I to kind about I In to ask look think yes, got want that seeing, I've they appreciated trends talk be pricing, able this that They

awareness that and again, think the we're that, in some seeing. the that's trends feeding so some of into that And increases growth seeing I we're of also

Operator

Ty of comes Navann question with the line next from The BNP Paribas.

Navann Ty Dietschi

reach HX? the lips question, a is the filler to do RHA outperforming revenue recovery you that in to recovery of second, need what previous X contribution So a to follow-up market RHA the for can you discuss market And filler guidance? the And market?

Mark Foley

Thanks, Navann.

of of revenue. I what in So the softer and market of health, midst a QX, half we year healthy first in market, the say terms in again, filler was really the the even certainly would drove filler

on back to the And the robust that to we're that going market plan and delivering we independent on market revenue drop. to is focus of the so continue be listen, think to continuing HA

will to treating hoping able the were incremental anything consumer feel check RHA far, drive that. of #X I we're about situated field that in interest rates was where It we lips list. the like a and mean Lips But things add procedure. But have I were I that drop that today. to And with know bit good on on products. when so little don't out there, with we're we and and being bit pull little sort customers it lean where so the we certainly a helped other X that with that. healthier injectors that, already

wasn't it It so like and lips getting And indication RHA opened bring that necessarily to X. a with to spotlight allowed wasn't up the treated. us promote a new we

media know know, content the just going and us before, sort with and it's that drove really some sure. of We they to use helps for continue sharing. than of initiative. engagement. where it, use RHA definitely as it lips had a given will that And But and a people always forward. said that leverage QX I helpful for whole other was exactly we'll It social certainly lips it about we digital for So SKUs but treat sort to thing hard wasn't framing don't opportunities

Operator

concludes Thank you. Thank today's That you. conference call.

disconnect You now lines. your may

Revance Therapeutics (RVNC) 8 Aug 242024 Q2 Earnings call transcript