$RVNC
Revance Therapeutics, Inc. Stock $rvnc

$rvnc Overview Financials Valuation SEC Filings Company Website

2018 Q4 Form 10-Q Financial Statement

#000147929018000108 Filed on November 02, 2018

Income Statement

Concept	2018 Q4	2018 Q3	2017 Q3
Revenue	$487.0K	$2.362M	$75.00K
YoY Change	1216.22%	3049.33%	0.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$13.36M	$14.16M	$9.148M
YoY Change	12.36%	54.73%	21.94%
% of Gross Profit
Research & Development	$25.53M	$21.85M	$21.64M
YoY Change	21.57%	0.95%	110.21%
% of Gross Profit
Depreciation & Amortization	$480.0K	$440.0K	$380.0K
YoY Change	29.73%	15.79%	2.7%
% of Gross Profit
Operating Expenses	$38.89M	$36.00M	$30.79M
YoY Change	18.24%	16.93%	73.0%
Operating Profit	-$38.41M	-$33.64M	-$30.72M
YoY Change		9.52%	73.31%
Interest Expense	$930.0K	$0.00	$104.0K
YoY Change	9200.0%	-100.0%	-59.38%
% of Operating Profit
Other Income/Expense, Net	-$150.0K	-$144.0K	-$128.0K
YoY Change	7.14%	12.5%	-7.25%
Pretax Income	-$37.62M	-$32.83M	-$30.65M
YoY Change	4.76%	7.11%	70.47%
Income Tax	$3.000M	$0.00
% Of Pretax Income
Net Earnings	-$40.62M	-$32.83M	-$30.65M
YoY Change	0.0%	7.12%	70.49%
Net Earnings / Revenue	-8340.04%	-1390.09%	-40868.0%
Basic Earnings Per Share
Diluted Earnings Per Share	-$1.118M	-$905.2K	-$1.013M
COMMON SHARES
Basic Shares Outstanding	36.99M shares	36.94M shares	30.82M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2018 Q4	2018 Q3	2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$175.8M	$208.4M	$153.4M
YoY Change	-37.86%	35.85%	-23.8%
Cash & Equivalents	$73.26M	$45.13M	$56.32M
Short-Term Investments	$102.6M	$163.3M	$97.10M
Other Short-Term Assets	$5.100M	$7.500M	$2.800M
YoY Change	1048.65%	167.86%	-62.16%
Inventory
Prepaid Expenses
Receivables	$27.00M
Other Receivables	$0.00
Total Short-Term Assets	$207.9M	$215.9M	$156.3M
YoY Change	-27.1%	38.15%	-25.12%
LONG-TERM ASSETS
Property, Plant & Equipment	$14.45M	$13.49M	$11.50M
YoY Change	56.21%	17.33%	-33.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$3.247M	$2.944M	$836.0K
YoY Change	393.47%	252.15%	292.49%
Total Long-Term Assets	$18.43M	$17.17M	$12.92M
YoY Change	75.69%	32.91%	-28.95%
TOTAL ASSETS
Total Short-Term Assets	$207.9M	$215.9M	$156.3M
Total Long-Term Assets	$18.43M	$17.17M	$12.92M
Total Assets	$226.3M	$233.1M	$169.2M
YoY Change	-23.45%	37.75%	-25.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$8.434M	$7.341M	$6.680M
YoY Change	23.94%	9.9%	132.67%
Accrued Expenses	$14.95M	$15.72M	$12.07M
YoY Change	22.27%	30.23%	6.75%
Deferred Revenue	$8.588M	$8.749M
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$0.00	$0.00	$2.700M
YoY Change	-100.0%	-100.0%	-18.18%
Total Short-Term Liabilities	$31.97M	$31.81M	$21.48M
YoY Change	52.95%	48.11%	22.61%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change			-100.0%
Other Long-Term Liabilities	$48.80M	$19.10M	$0.00
YoY Change			-100.0%
Total Long-Term Liabilities	$48.80M	$19.10M	$0.00
YoY Change			-100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities	$31.97M	$31.81M	$21.48M
Total Long-Term Liabilities	$48.80M	$19.10M	$0.00
Total Liabilities	$80.73M	$50.95M	$27.13M
YoY Change	200.61%	87.83%	3.77%
SHAREHOLDERS EQUITY
Retained Earnings	-$684.8M	-$644.2M	-$506.3M
YoY Change	26.3%	27.24%	28.25%
Common Stock	$830.4M	$826.4M	$648.4M
YoY Change	2.39%	27.46%	8.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$145.6M	$182.1M	$142.1M
YoY Change
Total Liabilities & Shareholders Equity	$226.3M	$233.1M	$169.2M
YoY Change	-23.45%	37.75%	-25.42%

Cashflow Statement

Concept	2018 Q4	2018 Q3	2017 Q3
OPERATING ACTIVITIES
Net Income	-$40.62M	-$32.83M	-$30.65M
YoY Change	0.0%	7.12%	70.49%
Depreciation, Depletion And Amortization	$480.0K	$440.0K	$380.0K
YoY Change	29.73%	15.79%	2.7%
Cash From Operating Activities	-$31.14M	-$25.41M	-$21.47M
YoY Change	9.69%	18.35%	49.62%
INVESTING ACTIVITIES
Capital Expenditures	-$1.620M	-$3.030M	-$530.0K
YoY Change	230.61%	471.7%	231.25%
Acquisitions
YoY Change
Other Investing Activities	$60.72M	$33.39M	$15.00M
YoY Change	-37.27%	122.6%	-83.87%
Cash From Investing Activities	$59.10M	$30.36M	$14.47M
YoY Change	-38.63%	109.81%	-84.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	160.0K	900.0K	9.120M
YoY Change	-99.9%	-90.13%	-1481.82%
NET CHANGE
Cash From Operating Activities	-31.14M	-25.41M	-21.47M
Cash From Investing Activities	59.10M	30.36M	14.47M
Cash From Financing Activities	160.0K	900.0K	9.120M
Net Change In Cash	28.12M	5.850M	2.120M
YoY Change	-87.59%	175.94%	-97.28%
FREE CASH FLOW
Cash From Operating Activities	-$31.14M	-$25.41M	-$21.47M
Capital Expenditures	-$1.620M	-$3.030M	-$530.0K
Free Cash Flow	-$29.52M	-$22.38M	-$20.94M
YoY Change	5.81%	6.88%	47.57%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2018
	dei	Document Period End Date DocumentPeriodEndDate	2018-09-30
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0001479290
CY2018Q4	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	36987667	shares
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
	dei	Entity Incorporation Date Of Incorporation EntityIncorporationDateOfIncorporation	1999-08-10
	dei	Entity Information Date To Change Former Legal Or Registered Name EntityInformationDateToChangeFormerLegalOrRegisteredName	2005-04-19
	dei	Entity Registrant Name EntityRegistrantName	Revance Therapeutics, Inc.
	dei	Entity Small Business EntitySmallBusiness	false
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	rvnc	Gain Losson Derivative Instruments Contract Net Pretax GainLossonDerivativeInstrumentsContractNetPretax	-211000	USD
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	rvnc	Interest Expense Capitalized InterestExpenseCapitalized	16000	USD
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CY2018Q3	us-gaap	Operating Leases Future Minimum Payments Due In Four Years OperatingLeasesFutureMinimumPaymentsDueInFourYears	6920000	USD
CY2018Q3	us-gaap	Operating Leases Future Minimum Payments Due In Three Years OperatingLeasesFutureMinimumPaymentsDueInThreeYears	6722000	USD
CY2018Q3	us-gaap	Operating Leases Future Minimum Payments Due In Two Years OperatingLeasesFutureMinimumPaymentsDueInTwoYears	6399000	USD
CY2018Q3	us-gaap	Operating Leases Future Minimum Payments Due Thereafter OperatingLeasesFutureMinimumPaymentsDueThereafter	28936000	USD
CY2018Q3	us-gaap	Operating Leases Future Minimum Payments Remainder Of Fiscal Year OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear	1409000	USD
CY2017Q3	us-gaap	Operating Leases Rent Expense Net OperatingLeasesRentExpenseNet	1300000	USD
	us-gaap	Operating Leases Rent Expense Net OperatingLeasesRentExpenseNet	4000000	USD
CY2018Q3	us-gaap	Operating Leases Rent Expense Net OperatingLeasesRentExpenseNet	1400000	USD
	us-gaap	Operating Leases Rent Expense Net OperatingLeasesRentExpenseNet	4100000	USD
	us-gaap	Operations Commenced Date1 OperationsCommencedDate1	2002-06-30
CY2017Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	658000	USD
CY2018Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	2944000	USD
CY2017Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	72000	USD
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	3000	USD
CY2018Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	90000	USD
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-133000	USD
CY2017Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-128000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-386000	USD
	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	36028000	USD
	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	212197000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	2037000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	5367000	USD
CY2017Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2018Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2017Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	5000000	shares
CY2018Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	5000000	shares
CY2017Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2018Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2017Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2018Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2017Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	2315000	USD
CY2018Q3	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	7492000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	38760000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	0	USD
	us-gaap	Proceeds From Maturities Prepayments And Calls Of Shortterm Investments ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments	60655000	USD
	us-gaap	Proceeds From Maturities Prepayments And Calls Of Shortterm Investments ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments	50000000	USD
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	0	USD
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	1537000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	2116000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	4822000	USD
CY2017Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	9250000	USD
CY2018Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	13493000	USD
CY2018Q3	us-gaap	Purchase Obligation PurchaseObligation	1900000	USD
	us-gaap	Repayments Of Long Term Debt And Capital Securities RepaymentsOfLongTermDebtAndCapitalSecurities	2727000	USD
	us-gaap	Repayments Of Long Term Debt And Capital Securities RepaymentsOfLongTermDebtAndCapitalSecurities	932000	USD
CY2017Q3	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	21643000	USD
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	59357000	USD
CY2018Q3	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	21848000	USD
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	66968000	USD
CY2017Q4	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	580000	USD
CY2018Q3	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	730000	USD
CY2017Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-542167000	USD
CY2018Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-644158000	USD
CY2017Q3	us-gaap	Revenues Revenues	75000	USD
	us-gaap	Revenues Revenues	225000	USD
CY2018Q3	us-gaap	Revenues Revenues	2362000	USD
	us-gaap	Revenues Revenues	3242000	USD
CY2017Q3	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	9148000	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	25511000	USD
CY2018Q3	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	14155000	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	40505000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	9820000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	12422000	USD
CY2017Q4	us-gaap	Short Term Investments ShortTermInvestments	0	USD
CY2018Q3	us-gaap	Short Term Investments ShortTermInvestments	163260000	USD
CY2017Q4	us-gaap	Stockholders Equity StockholdersEquity	268845000	USD
CY2018Q3	us-gaap	Stockholders Equity StockholdersEquity	182098000	USD
CY2017Q3	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	30270260	shares
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	29623805	shares
CY2018Q3	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	36272445	shares
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	36116745	shares
	us-gaap	Loss Contingency Disclosures LossContingencyDisclosures	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Medicis Settlement</font></div><div style="line-height:120%;padding-top:16px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In July 2009, the Company entered into a license agreement with Medicis Pharmaceutical Corporation, or Medicis, granting Medicis worldwide aesthetic and dermatological rights to the Company’s investigational botulinum toxin type A product candidates. In October 2012, the Company entered into a settlement and termination agreement with Medicis. The terms of the settlement provided for the reacquisition of the rights related to all territories of RT002 injectable and RT001 topical from Medicis and for consideration payable by the Company to Medicis of up to </font><font style="font-family:inherit;font-size:10pt;">$25.0 million</font><font style="font-family:inherit;font-size:10pt;">, comprised of (i) an upfront payment of </font><font style="font-family:inherit;font-size:10pt;">$7.0 million</font><font style="font-family:inherit;font-size:10pt;">, which was paid in 2012, (ii) a proceeds sharing arrangement payment of </font><font style="font-family:inherit;font-size:10pt;">$14.0 million</font><font style="font-family:inherit;font-size:10pt;"> due upon specified capital raising achievements by the Company, of which </font><font style="font-family:inherit;font-size:10pt;">$6.9 million</font><font style="font-family:inherit;font-size:10pt;"> was paid in 2013 and </font><font style="font-family:inherit;font-size:10pt;">$7.1 million</font><font style="font-family:inherit;font-size:10pt;"> in 2014, and (iii) a product approval payment of </font><font style="font-family:inherit;font-size:10pt;">$4.0 million</font><font style="font-family:inherit;font-size:10pt;"> to be paid upon the achievement of regulatory approval for RT002 injectable or RT001 topical by the Company. Medicis was subsequently acquired by Valeant Pharmaceuticals International, Inc. in December 2012.</font></div><div style="line-height:120%;padding-top:16px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company determined that the settlement provisions related to the proceeds sharing arrangement payment in (ii) above and product approval payment in (iii) above were derivative instruments that require fair value accounting as a liability and periodic fair value remeasurements until settled. </font></div><div style="line-height:120%;padding-top:16px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> As of </font><font style="font-family:inherit;font-size:10pt;">September 30, 2018</font><font style="font-family:inherit;font-size:10pt;">, the Company determined the fair value of its liability for the product approval payment was </font><font style="font-family:inherit;font-size:10pt;">$2.8 million</font><font style="font-family:inherit;font-size:10pt;">, which was measured by assuming a term of </font><font style="font-family:inherit;font-size:10pt;">1.75</font><font style="font-family:inherit;font-size:10pt;"> years, a risk-free rate of </font><font style="font-family:inherit;font-size:10pt;">2.76%</font><font style="font-family:inherit;font-size:10pt;"> and a credit risk adjustment of </font><font style="font-family:inherit;font-size:10pt;">6.00%</font><font style="font-family:inherit;font-size:10pt;">. The Company’s assumption for the expected term is based on an expected Biologics License Application, or BLA, approval in 2020. The Company did not make any payments under the Product Approval Payment during the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2018</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div>
	us-gaap	Use Of Estimates UseOfEstimates	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:16px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of Condensed Consolidated Financial Statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Such management estimates include revenue recognition, deferred revenue, accruals, stock-based compensation, the fair value of a derivative liability, and the valuation of deferred tax assets. The Company bases its estimates on historical experience and on assumptions that it believes are reasonable, however, actual results could differ significantly from those estimates.</font></div></div>

Files In Submission

Name	View Source	Status
0001479290-18-000108-index-headers.html	Edgar Link	pending
0001479290-18-000108-index.html	Edgar Link	pending
0001479290-18-000108.txt	Edgar Link	pending
0001479290-18-000108-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
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R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
rvnc-20180930.xml	Edgar Link	completed
rvnc-20180930.xsd	Edgar Link	pending
rvnc-20180930_cal.xml	Edgar Link	unprocessable
rvnc-20180930_def.xml	Edgar Link	unprocessable
rvnc-20180930_lab.xml	Edgar Link	unprocessable
rvnc-20180930_pre.xml	Edgar Link	unprocessable
rvnc-q318exhibit311.htm	Edgar Link	pending
rvnc-q318exhibit312.htm	Edgar Link	pending
rvnc-q318exhibit321.htm	Edgar Link	pending
rvnc-q318exhibit322.htm	Edgar Link	pending
rvncq31810q.htm	Edgar Link	pending
Show.js	Edgar Link	pending

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$RVNC
Revance Therapeutics, Inc. Stock $rvnc

2018 Q4 Form 10-Q Financial Statement

#000147929018000108 Filed on November 02, 2018

Income Statement

Balance Sheet

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$RVNC Revance Therapeutics, Inc. Stock $rvnc

2018 Q4 Form 10-Q Financial Statement

#000147929018000108 Filed on November 02, 2018

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$RVNC
Revance Therapeutics, Inc. Stock $rvnc