Shares of performance beauty company Evolus, Inc. (EOLS) are rising more than 10% Wednesday morning after reporting better-than-expected first-quarter results. The company’s full-year revenue outlook also came in above Street view.
The company reported net loss of $17.5 million or $0.31 per share in the first quarter compared with profit of $6.4 million or $0.16 per share a year ago, impacted by increase in expenses.
Revenues for the quarter increased 177% year-over-year to $33.91 million driven primarily by growth in volumes and higher average selling price.
On average, 5 analysts polled by Thomson Reuters expected loss of $0.33 per share on revenue of $30.57 million.
“A strong market, together with our performance to date, gives us confidence in achieving the upper end of our full-year sales guidance range of $143 to $150 million,” said David Moatazedi, President and Chief Executive Officer. The consensus estimate for full-year revenue stands at $148.47 million.
Additionally, Evolus said it is on track to launch Nuceiva in Europe in the third quarter of 2022.
EOLS, currently at $11.49, has traded in the range of $5.06-$14.30 in the past 52 weeks.
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