Evolus, Inc. (NASDAQ:EOLS) Q3 2019 Earnings Conference Call - Final Transcript

Nov 04, 2019 • 08:00 am ET


Evolus, Inc. (NASDAQ:EOLS) Q3 2019 Earnings Conference Call - Final Transcript


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Good morning and welcome to the Q3 2019 Evolus Earnings Conference Call. [Operator Instructions] Later we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions]

I would now like to turn the conference over to your host, Mr. Ashwin Agarwal. Please go ahead, sir.

Ashwin Agarwal

Thank you operator, and welcome to everyone participating on today's call. This call is also being broadcast live over the Internet at evolus.com, and a replay of the call will be available on the Company's website for 30 days.

On today's call are David Moatazedi, President and Chief Executive Officer; Lauren Silvernail, Chief Financial Officer and EVP, Corporate Development; Mike Jafar, Chief Marketing Officer; and Rui Avelar, Chief Medical Officer and Head of R&D.

In our remarks today, we will include statements that are considered forward-looking statements within the meaning of United States Securities Laws. In addition, 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, the discussion today will include non-GAAP financial measures. These non-GAAP measures 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 may also be found on our Investor Relations website at investors.evolus.com.

And now, let me hand the call over to David.

David Moatazedi

Good morning and welcome to the third quarter earnings call. I'm pleased to share the results from what has been a robust launch of Jeuveau in the U.S. I'll start by saying we are operating in one of the fastest growing areas of healthcare. Medical aesthetics is unique. It's a cash pay market that values high touch customer engagement and premium products that deliver consistent patient outcomes.

Within this space, neurotoxins are the largest segment with consistent high growth over the past two decades. With the introduction of Jeuveau, we now have the first neurotoxin in the U.S. with an aesthetic-only focus, which we believe gives us a strategic advantage. The consumer opportunity is significant and underdeveloped. About one in 10 consumers consuming a neurotoxin are in the office today and the penetration rate is on the rise with millennials over-indexing in their interest to get treated. This is a favorable backdrop to building an aesthetic company.

I'm pleased to share the impact we've made in our first full quarter on the market. As you know, the