2023 Q1 Form 10-K Financial Statement

#000157056223000038 Filed on March 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $41.72M $43.65M $148.6M
YoY Change 23.04% 25.94% 49.1%
Cost Of Revenue $12.15M $13.37M $55.89M
YoY Change -8.04% -15.56% 28.38%
Gross Profit $29.58M $30.28M $92.73M
YoY Change 42.87% 60.85% 65.18%
Gross Profit Margin 70.89% 69.37% 62.4%
Selling, General & Admin $37.38M $36.73M $141.8M
YoY Change 11.79% 10.52% 26.57%
% of Gross Profit 126.4% 121.31% 152.96%
Research & Development $1.381M $1.348M $4.742M
YoY Change 195.09% 218.68% 129.75%
% of Gross Profit 4.67% 4.45% 5.11%
Depreciation & Amortization $1.202M $1.027M $3.722M
YoY Change 30.37% 11.63% -33.8%
% of Gross Profit 4.06% 3.39% 4.01%
Operating Expenses $38.77M $39.10M $146.6M
YoY Change 14.32% 13.09% 28.43%
Operating Profit -$12.04M -$8.828M -$65.33M
YoY Change -22.06% -43.96% 47.12%
Interest Expense $2.789M -$2.554M $9.097M
YoY Change 36.18% 1724.29% -752.11%
% of Operating Profit
Other Income/Expense, Net -$38.00K $84.00K -$9.000K
YoY Change 442.86% -99.36%
Pretax Income -$14.77M -$13.11M -$74.32M
YoY Change -15.63% -27.73% 58.91%
Income Tax $23.00K $57.00K $95.00K
% Of Pretax Income
Net Earnings -$14.79M -$13.16M -$74.41M
YoY Change -15.48% -27.58% 58.97%
Net Earnings / Revenue -35.45% -30.16% -50.07%
Basic Earnings Per Share -$0.26 -$1.33
Diluted Earnings Per Share -$0.26 -$0.23 -$1.33
COMMON SHARES
Basic Shares Outstanding 56.41M shares 56.25M shares 56.07M shares
Diluted Shares Outstanding 56.48M shares 56.07M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.46M $53.92M $53.92M
YoY Change -70.5% -63.13% -63.13%
Cash & Equivalents $31.46M $53.92M $53.92M
Short-Term Investments
Other Short-Term Assets $1.590M $1.678M $5.580M
YoY Change -85.94% -84.8% -65.39%
Inventory $23.42M $18.85M $18.85M
Prepaid Expenses $4.159M $3.902M
Receivables $23.46M $22.45M $22.45M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $84.09M $100.8M $100.8M
YoY Change -41.17% -43.62% -43.62%
LONG-TERM ASSETS
Property, Plant & Equipment $2.595M $2.616M $4.563M
YoY Change 99.16% 90.81% 11.48%
Goodwill $21.21M $21.21M
YoY Change 0.0% 0.0%
Intangibles $47.93M $48.60M
YoY Change -4.21% -4.01%
Long-Term Investments
YoY Change
Other Assets $2.682M $2.813M $2.813M
YoY Change 1.06% 1.99% 1.99%
Total Long-Term Assets $76.15M $77.18M $77.18M
YoY Change -2.04% -1.91% -1.91%
TOTAL ASSETS
Total Short-Term Assets $84.09M $100.8M $100.8M
Total Long-Term Assets $76.15M $77.18M $77.18M
Total Assets $160.2M $178.0M $178.0M
YoY Change -27.38% -30.88% -30.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.19M $8.935M $8.935M
YoY Change 34.63% 46.69% 46.69%
Accrued Expenses $22.11M $24.79M $22.10M
YoY Change 4.59% -17.33% -42.33%
Deferred Revenue $6.985M $9.011M
YoY Change 39.92% 13.57%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $40.68M $46.51M $46.51M
YoY Change -0.05% -19.34% -19.34%
LONG-TERM LIABILITIES
Long-Term Debt $72.05M $71.88M $71.88M
YoY Change 0.93% 0.92% 0.92%
Other Long-Term Liabilities $40.54M $41.07M $41.07M
YoY Change -1.86% -12.01% -12.01%
Total Long-Term Liabilities $112.6M $113.0M $113.0M
YoY Change -0.09% -4.2% -4.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $40.68M $46.51M $46.51M
Total Long-Term Liabilities $112.6M $113.0M $113.0M
Total Liabilities $153.3M $159.5M $159.5M
YoY Change -0.08% -9.18% -9.18%
SHAREHOLDERS EQUITY
Retained Earnings -$512.1M -$497.3M
YoY Change 16.28% 17.6%
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 $6.949M $18.50M $18.50M
YoY Change
Total Liabilities & Shareholders Equity $160.2M $178.0M $178.0M
YoY Change -27.38% -30.88% -30.88%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$14.79M -$13.16M -$74.41M
YoY Change -15.48% -27.58% 58.97%
Depreciation, Depletion And Amortization $1.202M $1.027M $3.722M
YoY Change 30.37% 11.63% -33.8%
Cash From Operating Activities -$20.59M -$8.774M -$84.91M
YoY Change -46.11% -2.99% 154.32%
INVESTING ACTIVITIES
Capital Expenditures $227.0K $1.391M $1.618M
YoY Change 1791.67% -456.67% 311.7%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$511.0K -$1.391M -$2.939M
YoY Change 95.79% 256.67% -172.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.282M -1.516M -$4.146M
YoY Change 25.44% -103.17% -105.68%
NET CHANGE
Cash From Operating Activities -$20.59M -8.774M -$84.91M
Cash From Investing Activities -$511.0K -1.391M -$2.939M
Cash From Financing Activities -$1.282M -1.516M -$4.146M
Net Change In Cash -$22.46M -11.68M -$92.33M
YoY Change -43.26% -130.37% -311.32%
FREE CASH FLOW
Cash From Operating Activities -$20.59M -$8.774M -$84.91M
Capital Expenditures $227.0K $1.391M $1.618M
Free Cash Flow -$20.81M -$10.17M -$86.53M
YoY Change -45.53% 17.46% 156.15%

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CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2022 us-gaap Provision For Doubtful Accounts
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CY2021 us-gaap Provision For Doubtful Accounts
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589000 usd
CY2022 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
0 usd
CY2021 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-272000 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
775000 usd
CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
692000 usd
CY2022 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1086000 usd
CY2021 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
941000 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-18000 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
15000 usd
CY2022 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
5755000 usd
CY2021 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
6290000 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2021 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
10688000 usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2979000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
9389000 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5566000 usd
CY2022 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-1180000 usd
CY2021 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
254000 usd
CY2022 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-4854000 usd
CY2021 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
7010000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
968000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-787000 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-5199000 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
20891000 usd
CY2022 eols Increase Decrease In Accrued Litigation Settlement
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CY2021 eols Increase Decrease In Accrued Litigation Settlement
IncreaseDecreaseInAccruedLitigationSettlement
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CY2022 eols Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-977000 usd
CY2021 eols Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-33388000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1618000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
393000 usd
CY2022 us-gaap Payments For Software
PaymentsForSoftware
1321000 usd
CY2021 us-gaap Payments For Software
PaymentsForSoftware
577000 usd
CY2022 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
0 usd
CY2021 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
5000000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2939000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
4030000 usd
CY2022 us-gaap Repayments Of Debt
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0 usd
CY2021 us-gaap Repayments Of Debt
RepaymentsOfDebt
76323000 usd
CY2022 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 usd
CY2021 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
20000000 usd
CY2022 eols Payments Of Contingent Royalty Obligation
PaymentsOfContingentRoyaltyObligation
4185000 usd
CY2021 eols Payments Of Contingent Royalty Obligation
PaymentsOfContingentRoyaltyObligation
3097000 usd
CY2022 us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
0 usd
CY2021 us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
71958000 usd
CY2022 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
500000 usd
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3263000 usd
CY2022 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 usd
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
214000 usd
CY2022 eols Proceeds From Payments For Issuance Of Common Stock In Connection With Equity Incentive Plan
ProceedsFromPaymentsForIssuanceOfCommonStockInConnectionWithEquityIncentivePlan
539000 usd
CY2021 eols Proceeds From Payments For Issuance Of Common Stock In Connection With Equity Incentive Plan
ProceedsFromPaymentsForIssuanceOfCommonStockInConnectionWithEquityIncentivePlan
655000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
73052000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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-337000 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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0 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-92334000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
43694000 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
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53922000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
146256000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
7999000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
138000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
76000 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
14000 usd
CY2022 us-gaap Debt Conversion Converted Instrument Amount1
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0 usd
CY2021 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
39808000 usd
CY2022 eols Stock Issued For Accrued Litigation Settlement Expense
StockIssuedForAccruedLitigationSettlementExpense
0 usd
CY2021 eols Stock Issued For Accrued Litigation Settlement Expense
StockIssuedForAccruedLitigationSettlementExpense
48421000 usd
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
10000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-74412000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-84912000 usd
CY2022 eols Increase Decrease In Accrued Litigation Settlement
IncreaseDecreaseInAccruedLitigationSettlement
-15000000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53922000 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-497294000 usd
CY2022Q4 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
500000 usd
CY2022 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 consolidated financial statements in conformity with GAAP. Such estimates and assumptions affect the reported consolidated financial statements. These estimates include, but are not limited to net revenues, allowance for doubtful accounts, fair value measurements, inventory valuations, and stock-based compensation, 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>
CY2022 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%">The Company is party to an agreement (the “Daewoong Agreement”) with Daewoong Pharmaceutical Co. Ltd. (“Daewoong”), 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, 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, in Canada through its distribution partner in October 2019, in Great Britain in September 2022, and in Germany and Austria in February 2023 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 consolidated 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%">Any disruption and volatility in the global capital markets caused by other events, such as public health crises, increased inflation and rising interest rates and the military conflict between Russia and Ukraine, 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, or plans to soon invest, 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>
CY2021 us-gaap Gain Loss Related To Litigation Settlement
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25500000 usd
CY2022 us-gaap Property Plant And Equipment Useful Life
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P5Y
CY2022 us-gaap Number Of Reporting Units
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1 reporting_unit
CY2021 us-gaap Goodwill Impairment Loss
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CY2020 us-gaap Goodwill Impairment Loss
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CY2022 us-gaap Goodwill Impairment Loss
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CY2021 us-gaap Amortization Of Intangible Assets
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CY2021 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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0 usd
CY2020 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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CY2022 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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0 usd
CY2021 us-gaap Repayments Of Notes Payable
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20000000 usd
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-6290000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
9011000 usd
CY2021Q4 us-gaap Contract With Customer Liability Current
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7934000 usd
CY2022 eols Rebates And Coupons Credits And Payments
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22759000 usd
CY2021 eols Rebates And Coupons Credits And Payments
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16139000 usd
CY2022 eols Payments For Provisions For Accrued Volume Based Rebate And Coupon Liability
PaymentsForProvisionsForAccruedVolumeBasedRebateAndCouponLiability
21682000 usd
CY2021 eols Payments For Provisions For Accrued Volume Based Rebate And Coupon Liability
PaymentsForProvisionsForAccruedVolumeBasedRebateAndCouponLiability
11286000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
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7566000 usd
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2802000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
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2050000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2385000 usd
CY2022 us-gaap Provision For Doubtful Accounts
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1598000 usd
CY2021 us-gaap Provision For Doubtful Accounts
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589000 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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1933000 usd
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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322000 usd
CY2022Q2 us-gaap Research And Development In Process
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2000000 usd
CY2022Q2 us-gaap Research And Development In Process
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2000000 usd
CY2022Q2 us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
2000000 usd
CY2022Q2 us-gaap Research And Development In Process
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2000000 usd
CY2021Q1 us-gaap Gain Loss Related To Litigation Settlement
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25500000 usd
CY2022 us-gaap Advertising Expense
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11642000 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
16391000 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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44740000 usd
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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41546000 usd
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
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4185000 usd
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
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CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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46310000 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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44740000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
67712000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
19115000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
48597000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
21208000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
21208000 usd
CY2022Q4 eols Intangible Assets Gross Including Goodwill
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88920000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
19115000 usd
CY2022Q4 us-gaap Intangible Assets Net Including Goodwill
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CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
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66390000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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15765000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
50625000 usd
CY2021Q4 us-gaap Goodwill
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21208000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
21208000 usd
CY2021Q4 eols Intangible Assets Gross Including Goodwill
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87598000 usd
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