Evolus, Inc.

Good afternoon, and welcome to Evelis' third quarter 2023 earnings conference call. At this time, all participants are on a listen-only mode. A question-and-answer session will follow the prepared remarks. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Mr. Ned Mitchell from Investor Relations. Ned?

Thank you, Operator, and welcome to everyone joining us on today's call. With me today are David Modazzetti, President and Chief Executive Officer, Rui Aguilar, Chief Medical Officer and Head of R&D, 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 statement. 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 GAAPs and non-GAAP results may be found in our earnings release, which was furnished with our Form 8-K filed today with the SEC. on our investor relations website at ebliss.com. Following the conclusion of today's call, a replay will be available on our website at ebliss.com. With that, I'll turn the call over to David.

Thank you, Ned. We are very pleased to see the increasing momentum of our business driven by strong execution, which has translated into record quarterly revenue and record low cash burn in what is historically the seasonally lowest for the injectable category. Our focus has been consistent and intentional. We're building a beauty brand for the younger generation, which represents the fastest-growing segment of the neurotoxin market. This differentiated approach to Market Givaud has resulted in the highest quarterly revenue in the company's history. Our reported revenue of $50 million reflects 48% growth year-over-year and represents a sequential increase over the second quarter. We've also maintained a strong focus on operating expenses, and I'm pleased to report that our operating cash burn was at an all-time low of $0.9 million this quarter, putting us on a pathway to profitability with our existing liquidity. Our success in the quarter demonstrates the strength of our brand-building efforts and the resilience of the toxin market. which remains healthy as consumers continue to prioritize their spend on beauty. Toxins are a great value for consumers due to the consistency in outcomes and affordability of the treatment. We believe Javeau is well positioned as a beauty brand in this market and will continue to capture this increasing demand. The success of our consumer-centric strategy was demonstrated during the quarter in the number of total consumer loyalty redemptions, which eclipsed $1.2 million since the program was introduced in 2020. In the quarter, we reached an all-time high of $149,000 redemption, demonstrating sustained and strong brand loyalty. On the market penetration side, we added more than 650 new accounts in the quarter, bringing our total purchasing customer count to nearly 11,600. As a reminder, With over 30,000 aesthetic customers in the United States, we continue to have a significant opportunity to further expand our market penetration over the coming years. In our international operations, Nuceva is now commercial in four major countries. I'm proud of the progress we've made with a small and nimble team. This week, we celebrated one year since Nuceva was first launched in Great Britain. Earlier this year, we launched in Germany and Austria, And most recently, we launched in Italy, which is also a very strong start. Europe represents an estimated high single-digit millions in sales in 2023 and is key to our overall long-term growth strategy. The combination of continued strength and execution and increasing momentum gives us the confidence to raise, again, our full year 2023 revenue guidance to between 194 and $198 million. This updated guidance equates to over 30% growth for the fiscal year, and it is magnitudes greater than the estimated category growth rate. Looking beyond 2023, we remain highly confident in our 2028 sales goal of $700 million, which is driven by the strong market opportunity of Jabot in the United States, the international expansion of Nuciva, and the introduction of the Evelisse line of fillers in the U.S. beginning in 2025. Evelisse continues to differentiate itself and outpace the growth of our competitors, leading with a strong beauty brand, a unique strategy targeting millennials, and a cash-paid business model that rewards customer loyalty. Our platform for growth continues to scale with Chabot and Uciva, experiencing tremendous growth as evidenced by our third quarter results. Moving to our R&D efforts, I would like to provide an update on several of our pipeline assets. Today, we will provide an update on the first two expected injectable products within the Evelisse line of fillers. Rui will also review the final Phase 2 Extra Strengths Revolve results. Starting with Evelisse, we have continued to make progress over the past quarter and are pleased to provide an update on our filing for the first two Evelisse fillers. which we expect to be completed by summer 2024. This keeps us on track to launch Evelisse in the U.S. in 2025. On Monday, we announced the results from the Phase II clinical study evaluating the extra-strength 40-unit dose for extended duration of Juveau, the only neurotoxin dedicated exclusively to aesthetics. The final data presented this past weekend in Chicago at the American Society for Dermalogic Surgery demonstrated 26 weeks or six months of performance with the extra strength dose of 40 units. The final phase two outcomes were consistent with interim findings and reinforced that longer lasting effects, particularly up to 26 weeks, can be achieved with the extra strength 40 unit formulation of Juvo. I would now like to turn the call over to Rui Avalar, who will walk us through the findings. Thank you.