---
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"
generated_at: "2026-06-10T13:19:33.111450+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Revance to exit OPUL payments business, record up to $100M impairment, revise guidance

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-237318
- form_type: 8-K
- cik: 0001479290
- company_name: Revance Therapeutics, Inc.
- filed_at: 2023-09-19T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.05, 2.06, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-237318
- JSON: https://secwatch.observer/filing/0001193125-23-237318.json
- Plain text: https://secwatch.observer/filing/0001193125-23-237318.txt

## Key facts
- Restructurings & Charges
  Revance Therapeutics, Inc. announced a impairment with charges of between an estimated $80 million and $100 million affecting goodwill and other assets.
  - Type: impairment
  - Charge: between an estimated $80 million and $100 million
  - Affected area: goodwill and other assets
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1479290/000119312523237318/0001193125-23-237318-index.htm
- Restructurings & Charges
  Revance Therapeutics, Inc. announced a restructuring with charges of up to $7.0 million affecting OPUL® payments business (reduction in OPUL® personnel headcount).
  - Type: restructuring
  - Charge: up to $7.0 million
  - Affected area: OPUL® payments business
  - Headcount: reduction in OPUL® personnel headcount
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1479290/000119312523237318/0001193125-23-237318-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.