Evolus Sees FY23 Revenue $194M-$198M Vs $190.81M Est.
Portfolio Pulse from Benzinga Newsdesk
Evolus has updated its FY23 revenue forecast to $194M-$198M, exceeding the previous estimate of $190.81M. This represents a YoY growth of over 30%. The company also expects its adjusted gross profit margin for FY23 to be between 68% and 71%, and its full-year non-GAAP operating expenses to be between $153M and $158M. Evolus projects its total net revenue can reach $700 million by 2028, a CAGR of 29%, driven by its existing aesthetic neurotoxin business and the anticipated launch of the Evolysse™ HA dermal filler product line in 2025.
November 08, 2023 | 1:40 am
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Evolus has raised its FY23 revenue forecast, indicating strong growth. This, along with the projected CAGR of 29% to reach $700M in revenue by 2028, could positively impact the company's stock.
Evolus' raised revenue forecast for FY23 and strong growth projection for the next few years indicate a positive outlook for the company. This could lead to increased investor confidence and a potential rise in the company's stock price.
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