Evolus, Inc. (NASDAQ:EOLS) Q2 2020 Earnings Conference Call - Final Transcript
Aug 10, 2020 • 04:30 pm ET
Good afternoon, ladies and gentlemen, and welcome to the Q2 2020 Evolus Conference Call. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]
I would now like to introduce your host for today's conference, Mr. Ashwin Agarwal, Vice President, Finance, Investor Relations and Treasury. Sir, please go ahead.
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. With me 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 Rui Avelar, Chief Medical Officer and Head of R&D, and Jeff Plumer, Vice President of Legal.
In our remarks today, we will include statements that are considered forward-looking statements within the meaning of United States security 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 statement. 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.
Thank you, Ashwin. It goes without saying that the second quarter was a challenging quarter for the entire aesthetic industry and Evolus was no exception. In the first half of the quarter, practices were largely shut down due to COVID-19 measures and spent that time rewiring their operations. In speaking with customers most instituted measures focused on patient safety, and spacing appointments to minimize interaction between patients. Although patients' throughput declined due to these measures, it was largely offset by extended office hours. By June, the large majority of practices reopened and benefited from a strong surge in patient demand, reflecting the resilience of the toxin categories similar to what had been observed during the 2008 downturn. Many customers commented that June was the strongest month of this year and acknowledge that pent-up demand was a key driver of the volume reinforcing our optimism about the continued underlying demand in the market.
I am pleased by the progress we made in the second quarter. During the first