Evolus, Inc. (NASDAQ:EOLS) Q3 2022 Earnings Conference Call November 8, 2022 4:30 PM ET

Company Participants

David Erickson – Vice President-Investor Relations

David Moatazedi – President and Chief Executive Officer

Sandra Beaver – Chief Financial Officer

Conference Call Participants

Marc Goodman – SVB Securities

Carvey Leung – Cantor Fitzgerald

Annabel Samimy – Stifel

Douglas Tsao – H.C. Wainwright

Operator

Greetings, and welcome to the Evolus Third Quarter 2022 Earnings Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, David Erickson. Thank you. You may begin.

David Erickson

Thank you, operator, and welcome to everyone joining us on today's call. With me today are David Moatazedi, President and Chief Executive Officer; and Sandra Beaver, Chief Financial Officer. Our prepared remarks today will include forward-looking statements within the meaning of United States Securities Laws, and management may make additional forward-looking statements in response to your questions. Forward-looking statements are based on management's current assumptions and expectations of future events and trends, which may affect the company's business, strategy, operations or financial performance. A detailed discussion of the risks and uncertainties that the company faces is contained in its annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

Actual results may differ materially from those expressed in or implied by the forward-looking statements. The company undertakes no obligation to update or review any estimate, projection or forward-looking statements. Additionally, today's discussion will include non-GAAP financial measures, which should be considered in addition to and not as a substitute for or in isolation from our GAAP results. A reconciliation of GAAP to non-GAAP results may be found in our earnings release, which was furnished with our Form 8-K filed today with the SEC and on our Investor Relations website at evolus.com. Lastly, following the conclusion of today's call, a replay will be available on our website at evolus.com.

And with that, I'll turn the call over to David.

David Moatazedi

Thank you, David. We are very pleased to share with you our results for the third quarter. But before we get into the detail, I'd like to highlight four key takeaways. First, we are reiterating the top end of revenue guidance for the year, coming off of a very strong quarter of growth, where we believe our unit market share is now approaching 10%. Second, reduction in operating losses was driven by the significant drop in royalty rates and disciplined operating expense management, clearing the path to profitability with our current cash on hand. Third, we launched in Great Britain this past quarter, and our European expansion is well underway. And lastly, we are uniquely positioned to attract commercial and development stage assets as we build out our product portfolio.