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revance Revance Reports Second Quarter 2021 Financial Results , Provides Corporate Update August 5 , 2021 - Q2 revenue for the RHA® Collection of dermal fillers of $ 17.0 million - Aesthetic accounts increased to over 2,000 from over 1,500 in the prior quarter - Fintech payment processing volume run - rate increased to over $ 500 million in Q2 - U.S. Food and Drug Administration ( FDA ) pre - approval inspection initiated in June , with approval of DaxibotulinumtoxinA for Injection for the treatment of glabellar lines anticipated in second half 2021 - Conference call and webcast today at 4:30 p.m. ET NASHVILLE , Tenn .-- ( BUSINESS WIRE ) -- Aug . 5 , 2021-- Revance Therapeutics , Inc. ( Nasdaq : RVNC ) , a biotechnology company focused on innovative aesthetic and therapeutic offerings , today reported financial results for the second quarter ended June 30 , 2021 and provided a corporate update . Financial Highlights • Revenue for the second quarter 2021 totaled $ 18.8 million compared to $ 0.3 million for the second quarter 2020. Revenue for the six months ended June 30 , 2021 was $ 32.1 million compared to $ 0.4 million for the same period in 2020. The increase was due to sales resulting from the commercial expansion of the RHA® Collection of dermal fillers and revenue generated from the fintech platform . Revenue for the second quarter 2021 included $ 17.0 million of product revenue from sales of the RHAⓇ Collection of dermal fillers , $ 1.4 million of collaboration revenue and $ 0.4 million of service revenue from the fintech platform . • Selling , general and administrative ( SG & A ) expenses for the three and six months ended June 30 , 2021 were $ 50.6 million and $ 99.6 million compared to $ 29.6 million and $ 50.8 million for the same periods in 2020 , respectively , calculated in accordance with U.S. generally accepted accounting principles ( " GAAP " ) . The increase was primarily due to sales and marketing expenses related for the RHAⓇ Collection of dermal fillers , pre - commercial preparation activities for DaxibotulinumtoxinA for Injection and other fintech acquisition integration related expenses . SG & A expenses include depreciation and amortization and stock - based compensation . Excluding these expenses , non - GAAP SG & A expenses were $ 42.4 million and $ 83.2 million for the three and six months ended June 30 , 2021 , respectively . • Research and development ( R & D ) expenses for the three and six months ended June 30 , 2021 , were $ 29.4 million and $ 56.7 million compared to $ 27.1 million and $ 66.9 million for the same periods in 2020 , respectively . Key drivers of the change were due to lower costs incurred by clinical trial and regulatory costs , offset by costs related to pre - commercial manufacturing and fintech platform development . R & D expenses include depreciation and amortization and non - cash stock - based compensation . Excluding these expenses , non - GAAP R & D expenses were $ 24.9 million and $ 48.4 million for the three and six months ended June 30 , 2021 , respectively . • Total operating expenses for the three and six months ended June 30 , 2021 were $ 89.1 million and $ 172.5 million compared to $ 57.4 million and $ 118.4 million for the same periods in 2020 , respectively . Excluding costs of revenue , depreciation and amortization and stock - based compensation , non - GAAP operating expenses were $ 67.3 million and $ 131.6 million for the three and six months ended June 30 , 2021 , respectively . • Net loss for the three and six months ended June 30 , 2021 was $ 72.2 million and $ 143.8 million compared to $ 60.6 million and $ 122.5 million for the same periods in 2020 , respectively . • Cash , cash equivalents and short - term investments as of June 30 , 2021 were $ 336.3 million . " We are pleased to deliver our third consecutive quarter of growth , highlighted by the $ 17.0 million in RHAⓇ Collection sales , a steady increase in aesthetic accounts and the continued ramp up in payment processing volume . These results reflect both our ability to execute on our strategy and the broader strength of the aesthetics market , especially during seasonally busy periods such as the second quarter . We are also pleased to be beta testing our next - generation fintech platform and successfully processing payments as a PayFac . Our team is looking forward to the full launch of our fintech services platform in the fourth quarter of this year , " said Mark Foley , President and Chief Executive Officer of Revance . Foley continued , " The FDA initiated their pre - approval inspection of our manufacturing facility in June , and we continue to anticipate approval of DaxibotulinumtoxinA for Injection for the treatment of glabellar lines in 2021. We are actively preparing for the launch and once approved , expect DaxibotulinumtoxinA for Injection to underpin our aesthetics franchise and set the standard for neuromodulator performance in therapeutic indications . In the second half of this year , we look forward to the topline results from our ASPEN - OLS Phase 3 open - label , long - term safety study of