Evolus Inc
NASDAQ:EOLS
Evolus Inc
Evolus, Inc. is a medical aesthetics company, which engages in the provision of medical aesthetic treatments and procedures. The company is headquartered in Newport Beach, California and currently employs 167 full-time employees. The company went IPO on 2018-02-08. The Company’s first commercial product is Jeuveau, which is an approximately 900 kilodalton (kDa), purified botulinum toxin type A formulation indicated for the temporary improvement in the appearance of moderate to severe glabellar lines, also known as frown lines, in adults. Its primary market is the self-pay aesthetic market, which includes medical products purchased by physicians and other customers that are then sold to consumers or used in procedures for aesthetic indications that are not reimbursed by any third-party payor, such as Medicaid, Medicare or commercial insurance. The company offers customers and consumers a compelling value proposition with Jeuveau. BOTOX (onabotulinumtoxinA) is also an approximately 900 kDa botulinum toxin type A complex approved in the United States.
Evolus, Inc. is a medical aesthetics company, which engages in the provision of medical aesthetic treatments and procedures. The company is headquartered in Newport Beach, California and currently employs 167 full-time employees. The company went IPO on 2018-02-08. The Company’s first commercial product is Jeuveau, which is an approximately 900 kilodalton (kDa), purified botulinum toxin type A formulation indicated for the temporary improvement in the appearance of moderate to severe glabellar lines, also known as frown lines, in adults. Its primary market is the self-pay aesthetic market, which includes medical products purchased by physicians and other customers that are then sold to consumers or used in procedures for aesthetic indications that are not reimbursed by any third-party payor, such as Medicaid, Medicare or commercial insurance. The company offers customers and consumers a compelling value proposition with Jeuveau. BOTOX (onabotulinumtoxinA) is also an approximately 900 kDa botulinum toxin type A complex approved in the United States.
Revenue: Full-year 2025 net revenue was $297.2 million, up 12% YoY; Q4 revenue was $90.3 million, up 14% YoY.
Product mix: Jeuveau drove the majority of sales ($83.1M in Q4) while Evolysse contributed $7.2M in Q4 and has been adopted by >3,000 accounts.
Profitability: Company delivered fourth-quarter non-GAAP operating income of $7.1 million and expects to be profitable on an adjusted EBITDA basis in 2026 (low- to mid-single-digit margin).
2026 guide: Revenue guidance of $327M–$337M (10%–13% growth), adjusted gross margin 65.5%–67%, non-GAAP operating expenses $210M–$216M.
Commercial strategy: Growth driven by Evolux co-branded media program, Evolus Rewards loyalty, a new portfolio growth rebate, expanded medical education, and planned heavy sampling for Evolysse in Q2 2026.
International progress: International revenue nearly doubled YoY and represented ~8% of 2025 revenue; Estyme expected to launch in Europe in H1 2026.
Liquidity: Cash of $53.8M at year-end; new revolving credit facility up to $30M (accordion to $40M); access to two additional $50M tranches under existing debt; term loan matures mid-2030.
Key milestones: Expect FDA approval of Evolysse Sculpt in Q4 2026 and European rollout of Estyme in H1 2026; target 13%–15% adjusted EBITDA margin by 2028.
