2021 Q4 Form 10-K Financial Statement

#000157056222000067 Filed on March 03, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $34.66M $99.67M $20.58M
YoY Change 68.4% 76.29% 5.81%
Cost Of Revenue $15.83M $43.53M $7.280M
YoY Change 117.5% 137.9% 100.0%
Gross Profit $18.82M $56.14M $13.30M
YoY Change 41.53% 46.8% -15.88%
Gross Profit Margin 54.31% 56.32% 64.63%
Selling, General & Admin $33.23M $112.1M $27.39M
YoY Change 21.34% 14.13% -9.57%
% of Gross Profit 176.56% 199.63% 205.94%
Research & Development $423.0K $2.064M $720.0K
YoY Change -41.25% 19.86% 71.43%
% of Gross Profit 2.25% 3.68% 5.41%
Depreciation & Amortization $920.0K $5.622M $1.880M
YoY Change -51.06% -19.99% 27.89%
% of Gross Profit 4.89% 10.01% 14.14%
Operating Expenses $34.58M $114.1M $29.98M
YoY Change 15.33% 14.23% -6.81%
Operating Profit -$15.75M -$44.41M -$16.68M
YoY Change -5.55% -70.99% 1.96%
Interest Expense -$140.0K -$1.395M -$2.820M
YoY Change -95.04% -85.87% 34.93%
% of Operating Profit
Other Income/Expense, Net -$1.396M
YoY Change -86.71%
Pretax Income -$18.14M -$46.77M -$110.8M
YoY Change -83.64% -71.3% 657.1%
Income Tax $42.00K $42.00K -$150.0K
% Of Pretax Income
Net Earnings -$18.18M -$46.81M -$110.7M
YoY Change -83.58% -71.28% 662.85%
Net Earnings / Revenue -52.45% -46.96% -537.85%
Basic Earnings Per Share -$0.94
Diluted Earnings Per Share -$326.7K -$0.94 -$3.280M
COMMON SHARES
Basic Shares Outstanding 55.58M shares 49.77M shares 33.75M shares
Diluted Shares Outstanding 49.77M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $146.3M $146.3M $107.6M
YoY Change 35.97% 35.93% -17.13%
Cash & Equivalents $146.3M $146.3M $102.6M
Short-Term Investments $0.00 $0.00 $5.000M
Other Short-Term Assets $11.04M $16.12M $2.188M
YoY Change 404.66% 130.34% -58.72%
Inventory $1.762M $1.762M $3.354M
Prepaid Expenses $5.082M $4.828M
Receivables $14.66M $14.66M $9.680M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $178.8M $178.8M $127.6M
YoY Change 40.11% 40.12% -16.15%
LONG-TERM ASSETS
Property, Plant & Equipment $1.371M $4.093M $1.297M
YoY Change 5.71% -12.91% 43.79%
Goodwill $21.21M $21.21M
YoY Change 0.0% 0.0%
Intangibles $50.63M $55.30M
YoY Change -8.45% -7.28%
Long-Term Investments
YoY Change
Other Assets $2.758M $2.758M $240.0K
YoY Change 1049.17% 1279.0% -90.12%
Total Long-Term Assets $78.68M $78.68M $81.46M
YoY Change -3.4% -3.46% -7.69%
TOTAL ASSETS
Total Short-Term Assets $178.8M $178.8M $127.6M
Total Long-Term Assets $78.68M $78.68M $81.46M
Total Assets $257.5M $257.5M $209.1M
YoY Change 23.16% 23.14% -13.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.091M $6.091M $9.615M
YoY Change -36.65% -36.55% 65.89%
Accrued Expenses $29.99M $38.32M $9.102M
YoY Change 229.52% -45.79% -34.8%
Deferred Revenue $7.934M $3.081M
YoY Change 157.51% 80.28%
Short-Term Debt $0.00 $0.00 $19.10M
YoY Change -100.0% -100.0%
Long-Term Debt Due $0.00 $0.00 $74.40M
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $57.66M $57.66M $180.2M
YoY Change -68.01% -68.0% 637.54%
LONG-TERM LIABILITIES
Long-Term Debt $71.22M $71.22M $40.50M
YoY Change 75.86% 75.86% -44.9%
Other Long-Term Liabilities $46.68M $46.68M $61.20M
YoY Change -23.72% -23.72% 35.7%
Total Long-Term Liabilities $117.9M $117.9M $101.7M
YoY Change 15.93% 15.93% 38.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $57.66M $57.66M $180.2M
Total Long-Term Liabilities $117.9M $117.9M $101.7M
Total Liabilities $175.6M $175.6M $282.0M
YoY Change -37.73% -37.73% 75.19%
SHAREHOLDERS EQUITY
Retained Earnings -$422.9M -$376.1M
YoY Change 12.45% 76.51%
Common Stock $1.000K $1.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $81.88M $81.88M -$72.96M
YoY Change
Total Liabilities & Shareholders Equity $257.5M $257.5M $209.1M
YoY Change 23.16% 23.14% -13.05%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$18.18M -$46.81M -$110.7M
YoY Change -83.58% -71.28% 662.85%
Depreciation, Depletion And Amortization $920.0K $5.622M $1.880M
YoY Change -51.06% -19.99% 27.89%
Cash From Operating Activities -$9.044M -$33.39M -$2.260M
YoY Change 300.18% -42.31% -85.8%
INVESTING ACTIVITIES
Capital Expenditures -$390.0K $393.0K -$300.0K
YoY Change 30.0% -51.78% -73.68%
Acquisitions
YoY Change
Other Investing Activities $0.00 $5.000M $20.00M
YoY Change -100.0% -67.38% 32.36%
Cash From Investing Activities -$390.0K $4.030M $19.70M
YoY Change -101.98% -66.95% 40.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities 47.89M $73.05M 0.000
YoY Change 90.5% -100.0%
NET CHANGE
Cash From Operating Activities -9.044M -$33.39M -2.260M
Cash From Investing Activities -390.0K $4.030M 19.70M
Cash From Financing Activities 47.89M $73.05M 0.000
Net Change In Cash 38.46M $43.69M 17.44M
YoY Change 120.53% -696.1% -75.36%
FREE CASH FLOW
Cash From Operating Activities -$9.044M -$33.39M -$2.260M
Capital Expenditures -$390.0K $393.0K -$300.0K
Free Cash Flow -$8.654M -$33.78M -$1.960M
YoY Change 341.53% -42.44% -86.74%

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5622000 USD
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7027000 USD
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
9576000 USD
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
10584000 USD
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
589000 USD
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2066000 USD
CY2021 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-272000 USD
CY2020 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
427000 USD
CY2021 eols Operating Lease Rightof Use Asset Amortization
OperatingLeaseRightofUseAssetAmortization
692000 USD
CY2020 eols Operating Lease Rightof Use Asset Amortization
OperatingLeaseRightofUseAssetAmortization
654000 USD
CY2020 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
2691000 USD
CY2021 us-gaap Paid In Kind Interest
PaidInKindInterest
0 USD
CY2021 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
941000 USD
CY2020 us-gaap Paid In Kind Interest
PaidInKindInterest
506000 USD
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
15000 USD
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
25000 USD
CY2021 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
6290000 USD
CY2020 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-2007000 USD
CY2021 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-968000 USD
CY2020 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2021 eols Adjustments Of Non Cash Portion Of Accrued Settlement Expenses
AdjustmentsOfNonCashPortionOfAccruedSettlementExpenses
0 USD
CY2020 eols Adjustments Of Non Cash Portion Of Accrued Settlement Expenses
AdjustmentsOfNonCashPortionOfAccruedSettlementExpenses
48421000 USD
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2979000 USD
CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-4542000 USD
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5566000 USD
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1085000 USD
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7264000 USD
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1690000 USD
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-787000 USD
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2320000 USD
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
20891000 USD
CY2020 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-4248000 USD
CY2021 eols Increase Decrease In Accrued Litigation Settlement
IncreaseDecreaseInAccruedLitigationSettlement
-15000000 USD
CY2020 eols Increase Decrease In Accrued Litigation Settlement
IncreaseDecreaseInAccruedLitigationSettlement
35000000 USD
CY2021 eols Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-838000 USD
CY2020 eols Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-734000 USD
CY2021 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
0 USD
CY2020 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1497000 USD
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-33388000 USD
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-57871000 USD
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
393000 USD
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
815000 USD
CY2021 us-gaap Payments For Software
PaymentsForSoftware
577000 USD
CY2020 us-gaap Payments For Software
PaymentsForSoftware
2323000 USD
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
4030000 USD
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
12194000 USD
CY2021 us-gaap Repayments Of Debt
RepaymentsOfDebt
76323000 USD
CY2021 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
0 USD
CY2020 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
74668000 USD
CY2021 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
5000000 USD
CY2020 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
90000000 USD
CY2020 us-gaap Repayments Of Debt
RepaymentsOfDebt
0 USD
CY2021 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
20000000 USD
CY2020 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2021 eols Payments Of Contingent Royalty Obligation
PaymentsOfContingentRoyaltyObligation
3097000 USD
CY2020 eols Payments Of Contingent Royalty Obligation
PaymentsOfContingentRoyaltyObligation
1130000 USD
CY2021 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
CY2020 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
40000000 USD
CY2021 us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
71958000 USD
CY2020 us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
0 USD
CY2020 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3263000 USD
CY2020 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2021 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2020 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
523000 USD
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
214000 USD
CY2021 eols Proceeds From Payments For Issuance Of Common Stock In Connection With Equity Incentive Plan
ProceedsFromPaymentsForIssuanceOfCommonStockInConnectionWithEquityIncentivePlan
655000 USD
CY2020 eols Proceeds From Payments For Issuance Of Common Stock In Connection With Equity Incentive Plan
ProceedsFromPaymentsForIssuanceOfCommonStockInConnectionWithEquityIncentivePlan
0 USD
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
73052000 USD
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
38347000 USD
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
43694000 USD
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7330000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
102562000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
109892000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
146256000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
102562000 USD
CY2021 us-gaap Interest Paid Net
InterestPaidNet
138000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
7244000 USD
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
14000 USD
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
65000 USD
CY2021 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
39808000 USD
CY2020 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
0 USD
CY2021 eols Stock Issued For Accrued Litigation Settlement Expense
StockIssuedForAccruedLitigationSettlementExpense
48421000 USD
CY2020 eols Stock Issued For Accrued Litigation Settlement Expense
StockIssuedForAccruedLitigationSettlementExpense
0 USD
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
10000 USD
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
146256000 USD
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-422882000 USD
CY2021Q2 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
25500000 USD
CY2021 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain comparative amounts for prior year have been reclassified to conform to current year presentations. Such reclassifications did not affect net income or retained earnings.</span></div>
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
3081000 USD
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt;padding-right:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management is required to make certain estimates and assumptions in order to prepare financial statements in conformity with GAAP. Such estimates and assumptions affect the reported financial statements. The Company’s most significant estimates relate to net revenues, allowance for doubtful accounts, fair value measurements, goodwill and long-lived asset valuations and impairment assessments, inventory valuations, income tax valuations, stock-based compensation and royalty obligations, among others. Management bases estimates on historical experience and on assumptions that management believes are reasonable. The Company’s actual results could differ materially from those estimates.</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, the full impact of the COVID-19 outbreak is unknown and cannot be reasonably estimated. However, where possible, management has made appropriate accounting estimates with respect to certain accounting matters, which include the fair value of royalty obligations, allowance for doubtful accounts, inventory valuation and impairment assessments of goodwill and other long-lived assets, based on the facts and circumstances available as of the reporting date. The Company’s future assessment of the magnitude and duration of the COVID-19 outbreak, as well as other factors, could result in material impacts to the Company’s financial statements in future reporting periods.</span></div>
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:9pt;padding-right:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Risks and Uncertainties</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2013, Evolus and Daewoong Pharmaceutical Co. Ltd. (“Daewoong”) entered into an agreement (the “Daewoong Agreement”), pursuant to which the Company received an exclusive distribution license to Jeuveau</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> from Daewoong for aesthetic indications in the United States, European Union, United Kingdom, members of the European Economic Area, Switzerland, Canada, Australia, Russia, certain members of the Commonwealth of Independent States, and South Africa, as well as co-exclusive distribution rights with Daewoong in Japan. Jeuveau</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> is manufactured by Daewoong in a facility in South Korea. The Company also has the option to negotiate first with Daewoong to secure a distribution license for any product that Daewoong directly or indirectly develops or commercializes that is classified as an injectable botulinum toxin (other than Jeuveau</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) in a territory covered by the Daewoong Agreement. The Company relies on Daewoong, its exclusive and sole supplier, to manufacture Jeuveau</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Any termination or loss of significant rights, including exclusivity, under the Daewoong Agreement would materially and adversely affect the Company’s commercialization of Jeuveau</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. See </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Note 9. Commitments and Contingencies</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Note 11. Medytox/Allergan Settlement Agreements and Daewoong Arrangement</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">for additional information.</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company commercially launched Jeuveau</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in the United States in May 2019 and in Canada through its distribution partner in October 2019 and, as such, has a limited history of sales. If any previously granted approval is retracted or the Company is denied approval or approval is delayed by any other regulators, it may have a material adverse impact on the Company’s business and its financial statements.</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is also subject to risks common to companies in the pharmaceutical industry including, but not limited to, dependency on the commercial success of Jeuveau</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the Company’s sole commercial product, significant competition within the medical aesthetics industry, its ability to maintain regulatory approval of Jeuveau</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, third party litigation and challenges to its intellectual property, uncertainty of broad adoption of its product by physicians and patients, its ability to in-license, acquire or develop additional product candidates and to obtain the necessary approvals for those product candidates, and the need to scale manufacturing capabilities over time.</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The COVID-19 outbreak and restrictions intended to slow the spread of COVID-19, including quarantines, government-mandated actions, stay-at-home orders and other restrictions, have adversely affected the Company’s business in a number of ways, which have resulted, and may continue to result, in a period of business disruption and in reduced sales and operations. In addition, any disruption and volatility in the global capital markets may increase the Company’s cost of capital and adversely affect its ability to access financing when and on terms that the Company desires. Any of these events could have a material adverse effect on the Company’s business, financial condition, results of operations and cash flows.</span></div><div style="margin-bottom:9pt;padding-right:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents, short-term investments and accounts receivable. Substantially all of the Company’s cash is held by financial institutions that management believes are of high credit quality. Such deposits may, at times, exceed federally insured limits. To date, the Company has not experienced any losses associated with this credit risk and continues to believe that this exposure is not significant. The Company invests its excess cash, in line with its investment policy, primarily in money market funds and debt instruments of U.S. government agencies. </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s accounts receivable is derived from customers located principally in the United States. Concentrations of credit risk with respect to trade receivables are limited due to the Company’s credit evaluation process. The Company does not typically require collateral from its customers. Credit losses historically have not been material. The Company continuously monitors customer payments and maintains an allowance for doubtful accounts based on its assessment of various factors including historical experience, age of the receivable balances, and other current economic conditions or other factors that may affect customers’ ability to pay.</span></div>
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
7934000 USD
CY2021 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P5Y
CY2021 us-gaap Number Of Reporting Units
NumberOfReportingUnits
1 reporting_unit
CY2019 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 USD
CY2021 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 USD
CY2019 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 USD
CY2021 eols Rebates And Coupons Credits And Payments
RebatesAndCouponsCreditsAndPayments
16139000 USD
CY2020 eols Rebates And Coupons Credits And Payments
RebatesAndCouponsCreditsAndPayments
16896000 USD
CY2021 eols Payments For Provisions For Accrued Volume Based Rebate And Coupon Liability
PaymentsForProvisionsForAccruedVolumeBasedRebateAndCouponLiability
11286000 USD
CY2020 eols Payments For Provisions For Accrued Volume Based Rebate And Coupon Liability
PaymentsForProvisionsForAccruedVolumeBasedRebateAndCouponLiability
15524000 USD
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2802000 USD
CY2020 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
0 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2385000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2118000 USD
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
589000 USD
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2066000 USD
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
322000 USD
CY2020 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
335000 USD
CY2020 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
83421000 USD
CY2020 us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
48421000 USD
CY2021Q4 us-gaap Litigation Reserve Current
LitigationReserveCurrent
15000000 USD
CY2021 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
25500000 USD
CY2021Q4 us-gaap Litigation Reserve Noncurrent
LitigationReserveNoncurrent
5000000 USD
CY2021 us-gaap Advertising Expense
AdvertisingExpense
16391000 USD
CY2020 us-gaap Advertising Expense
AdvertisingExpense
4979000 USD
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
41546000 USD
CY2019Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
44683000 USD
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
3097000 USD
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
1130000 USD
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-6290000 USD
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
2007000 USD
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
44740000 USD
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
41546000 USD
CY2021Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
75448000 USD
CY2020Q4 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
19284000 USD
CY2020Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
76368000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
66390000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
15765000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
50625000 USD
CY2021Q4 us-gaap Goodwill
Goodwill
21208000 USD
CY2021Q4 us-gaap Goodwill
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