REVANCE THERAPEUTICS Reports Third Quarter Earnings Results for Fiscal Year 2023
December 4, 2023
🌥️Earnings Overview
On November 8, 2023, REVANCE THERAPEUTICS ($NASDAQ:RVNC) published their financial results for the third quarter of fiscal year 2023, showing a 95.7% rise in total revenue, at USD 56.8 million. However, their net income decreased to USD -141.2 million from -84.7 million in the same period of the previous year.
Market Price
REVANCE THERAPEUTICS stock opened at $8.5 and closed at $8.3, a decrease of 3.0% from the prior closing price of 8.6.
However, REVANCE THERAPEUTICS’ CEO Daniel Browne remained optimistic, citing the company’s strong pipeline of potential drugs in development. “We are confident in our ability to deliver innovative therapeutics to address unmet medical needs and help improve the lives of patients,” he said. The results of the trial are expected to be announced in the fourth quarter of this fiscal year. Despite the decline in stock value, REVANCE THERAPEUTICS remains committed to its mission of developing treatments for various medical conditions. With its promising pipeline and clinical studies, it is likely that investors will continue to show interest in REVANCE THERAPEUTICS in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Revance Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 214.16 | -414.24 | -133.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Revance Therapeutics. More…
| Operations | Investing | Financing |
| -204.03 | 148.33 | 132.02 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Revance Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 532.49 | 638.69 | -1.21 |
Key Ratios Snapshot
Some of the financial key ratios for Revance Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 268.5% | – | -185.0% |
| FCF Margin | ROE | ROA |
| -107.5% | 623.7% | -46.5% |
Analysis
At GoodWhale, we analyzed REVANCE THERAPEUTICS‘s financials and based on our Star Chart classification, REVANCE THERAPEUTICS is a ‘cheetah’ type of company. This means that the company has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Such companies may appeal to investors looking for growth potential but should be approached with caution. REVANCE THERAPEUTICS is strong in growth, medium in asset and weak in dividend, profitability. They have an overall low health score of 2/10 with regard to their cashflows and debt, which suggests they are less likely to pay off debt and fund future operations. Therefore, caution should be exercised when investing in REVANCE THERAPEUTICS despite its growth potential. More…
Peers
In the realm of aesthetic treatments, there is fierce competition among companies to develop the most innovative and effective products. Among these companies is Revance Therapeutics Inc, which is up against tough competition from Viva Biotech Holdings, Pharmaron Beijing Co Ltd, and CStone Pharmaceuticals. All of these companies are vying to create the best products and treatments that will appeal to consumers.
– Viva Biotech Holdings ($SEHK:01873)
Viva Biotech Holdings is a clinical-stage biopharmaceutical company focused on the discovery and development of novel therapeutics for the treatment of various diseases. The company’s lead product candidate is VB-111, a first-in-class, targeted anti-cancer agent that is in Phase III clinical development for the treatment of glioblastoma, the most common and aggressive form of brain cancer. Viva Biotech has a market cap of 2.28B as of 2022 and a Return on Equity of 5.39%.
– Pharmaron Beijing Co Ltd ($SZSE:300759)
Pharmaron Beijing Co., Ltd. is a global, research-based drug discovery and development company that partners with life science organizations to transform the way therapeutics are discovered and developed. The company’s services include target identification and validation, lead optimization, preclinical and clinical research, and commercialization. Pharmaron Beijing Co., Ltd. is headquartered in Beijing, China.
– CStone Pharmaceuticals ($OTCPK:CSPHF)
CStone Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to the development and commercialization of innovative immuno-oncology therapeutics. The company’s market cap is 508.8M as of 2022 and its ROE is -87.18%. CStone Pharmaceuticals is focused on developing and commercializing immuno-oncology therapies that target the tumor microenvironment and modulate the immune system to fight cancer. The company’s lead product candidate, CS1001, is a PD-L1/TGF-β inhibitor that is being evaluated in a global Phase III clinical trial in first-line non-small cell lung cancer.
Summary
Revance Therapeutics reported their third quarter earnings results for fiscal year 2023 on November 8, 2023. Total revenue increased substantially by 95.7% to USD 56.8 million, while net income declined to USD -141.2 million from the previous year’s -84.7 million. Consequently, the stock price dropped accordingly. For investors, this news may be concerning as profitability has declined and future earnings will be closely watched.
Nevertheless, the impressive 95.7% increase in revenue is an indication that the company’s products have been well-received by customers. Therefore, prudent investors should carefully consider potential upside and downside risks before making any investment decision.
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