{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-237318","form_type":"8-K","ticker":null,"cik":"0001479290","company_name":"Revance Therapeutics, Inc.","filed_at":"2023-09-19T23:59:59+00:00","discovered_at":"2026-05-14T18:03:34.047486+00:00","generated_at":"2026-06-10T13:19:33.111450+00:00","sec_items":["2.05","2.06","7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Revance to exit OPUL payments business, record up to $100M impairment, revise guidance","bullets":["Exiting OPUL payments business, expects to free up ~$20M/year for reinvestment; restructuring charges up to $7M, non-cash impairment $80M-$100M.","Revised 2023 GAAP OpEx guidance to $545M-$585M (from $460M-$480M); Non-GAAP OpEx narrowed to $315M-$335M.","New DAXXIFY pricing program effective Sept 1, 2023; expects adjusted gross margin over 80% long-term.","Cash of $319.7M at June 30, plus $50M notes from Athyrium in Aug; funded to breakeven, adjusted EBITDA positive expected in 2025.","Q3 product revenue expected around Q2 levels due to new pricing and seasonality; product revenue guidance in H1 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-237318","json":"https://secwatch.observer/filing/0001193125-23-237318.json","markdown":"https://secwatch.observer/filing/0001193125-23-237318.md","text":"https://secwatch.observer/filing/0001193125-23-237318.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1479290/000119312523237318/0001193125-23-237318-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1479290/000119312523237318/d549881d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T13:19:33.111450+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"bf10da6bc510411ec88adba68dbf3fddeafd15cf","claim":"Revance Therapeutics, Inc. announced a impairment with charges of between an estimated $80 million and $100 million affecting goodwill and other assets.","evidence_excerpt":"the Company currently estimates the total non-cash impairment charges from goodwill and other assets to be between an estimated $80 million and $100 million.","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1479290/000119312523237318/0001193125-23-237318-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"impairment"},{"label":"Charge","value":"between an estimated $80 million and $100 million"},{"label":"Affected area","value":"goodwill and other assets"}],"fact_type":"restructuring_charge"},{"claim_id":"e8e4dd9600b6fbd334bafb98026e2921c343b1b8","claim":"Revance Therapeutics, Inc. announced a restructuring with charges of up to $7.0 million affecting OPUL® payments business (reduction in OPUL® personnel headcount).","evidence_excerpt":"to execute on the Company’s loyalty and practice partnership priorities. The Company expects to record a restructuring charge in connection with such activities of up to $7.0 million, primarily consisting of severance and other related costs. This amount excludes charges related to the material impairment charges described in Item 2.06 below. The Company","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1479290/000119312523237318/0001193125-23-237318-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"up to $7.0 million"},{"label":"Affected area","value":"OPUL® payments business"},{"label":"Headcount","value":"reduction in OPUL® personnel headcount"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}