Revance Therapeutics GAAP EPS of -$0.88 beats by $0.03, revenue of $28.37M beats by $0.6M

Aug. 09, 2022 4:21 PM ETRevance Therapeutics, Inc. (RVNC)By: Dania Nadeem, SA News Editor
  • Revance Therapeutics press release (NASDAQ:RVNC): Q2 GAAP EPS of -$0.88 beats by $0.03.
  • Revenue of $28.37M (+50.9% Y/Y) beats by $0.6M.
  • Shares -10.3%.
  • 2022 Financial Outlook
  • Revance expects 2022 GAAP operating expenses to be $375 million to $400 million and non-GAAP operating expenses, which exclude costs of revenue, depreciation, amortization and stock-based compensation to be $260 million to $280 million. Revance expects 2022 non-GAAP research and development expense to be $100 million to $110 million. With the current cash, cash equivalents and short-term investments of $233.8 million, management projects that the company is funded into 2024, with an additional $100 million in notes available under the company’s note purchase agreement, subject to the FDA approval of DaxibotulinumtoxinA for Injection for glabellar lines.

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