Evolus, Inc.

Good afternoon, everyone, and thank you for standing by. Welcome to Evalyst's first quarter 2024 earnings conference call. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, today's conference is being recorded and webcast is live. All participants are in a listen-only mode. After the speaker's remarks, there will be a question and answer session. I would now like to turn the conference over to Narek Segarian, Vice President and Head of Global Investment Relations and Corporate Communications. Please go ahead.

Thank you, Operator. And welcome to everyone joining us on today's call to review Evelis' first quarter 2024 financial results. Our first quarter 2024 press release is now on our website at evelis.com. With me today are David Modazzetti, President and Chief Executive Officer, and Sandra Beaver, Chief Financial Officer. Rudy Avalar, Chief Medical Officer and Head of R&D, is also with us for the Q&A portion of the call. Before we begin our discussion, I'd like to note that during our call, our prepared remarks will include forward-looking statements within the meaning of United States security 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. Listeners are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this call, and the company undertakes no obligation to update or review any estimate, projection, or forward-looking statement except as required by law. These forward-looking statements are based on estimates and assumptions that, although believed to be reasonable, are inherently uncertain and subject to a number of risks and uncertainties. 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. Additionally, today's discussion will include non-GAAP financial measures that 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 on our investor relations website at edless.com. Following the conclusion of today's call, a replay will be available on our website at edless.com. With that, I'll turn the call over to our CEO, David Modazzetti.

Thank you, Narg. Good afternoon, everyone. Thank you for joining us on our first quarter 2024 earnings conference call. Following a record year in 2023, which represented our third year as the fastest growing neurotoxin in the U.S., we are very pleased to report the continued adoption of GIVO with another quarter of above market performance and strong revenue growth. Our reported revenue of $59.3 million in the first quarter represents 42% growth over the prior year. highlighting our continued strength in execution and increasing momentum from 2023 toward achieving our 2024 net revenue guidance of between $255 million and $265 million. We continue to maintain a focus on operating expense discipline with operating expense growth at less than half the rate of revenue, putting us on a clear pathway to profitability in the fourth quarter of this year. Our differentiated approach to building a performance beauty company is gaining increased acceptance. These results underscore the continued growth of our brand and importantly, the loyalty of our customers and consumers who are increasingly choosing to partner with Evalys. I'm pleased to share with you the metrics that delivered the results in the quarter. In the US, we added over 700 new purchasing accounts bringing our total number of customers purchasing since launch to over 13,000, which represents approximately 40% penetration of the roughly 30,000 customers in the U.S. that inject cosmetic neurotoxins. The standout metric this quarter was the number of consumers who were treated in our Eveless Consumer Loyalty Program, which achieved an all-time high number of redemptions with approximately 180,000 consumers who received treatment. Importantly, 60% of those were repeat treatments and the remainder were new to GIVOTE. Our loyalty program continues to gain momentum in the market with every consumer earning $40 off their GIVOTE treatment, which is a meaningful savings over loyalty programs in the toxin space. On the international side, we continue to expand our international footprint with a focus on deeper penetration in the UK, Germany, and Italy while actively preparing to launch in Australia and Spain later this year. And lastly, on the R&D side, we've made significant progress with the development of our novel dermal filler line and remain on track for US and international launch in 2025. Within the next 90 days, we plan to file our first two fillers with the FDA and we'll present the top line results of this pivotal trial on Friday, May 17th at the SCALE meeting in Nashville. I'm proud of the team at Evelis. They're highly driven, focused, and believe in our mission of building a performance beauty company. It is their commitment that gives Evelis an outsized presence in the market. Our success in the quarter is largely driven by our continued market penetration on a strong underlying market, which remains healthy as consumers continue to prioritize their spending on the toxin procedure. DeVos brand recognition, clinical performance, and high satisfaction profile is well positioned for new consumers entering the category. This positioning will allow us to continue capturing demand from the younger generation while we actively prepare to integrate our novel dermal filler line, Evelisse, when it becomes commercially available starting in 2025. Looking beyond 2024, we remain confident in our commitment to drive long-term value for our shareholders by achieving our total net revenue goal of at least $700 million by 2028. This confidence is driven by the strong market opportunity of Javeau in the U.S., the international expansion of Nuseva, and the commercialization of the Evelisse line of fillers beginning in 2025. Now I'll turn it over to Sandra, who will cover the financials.