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Evolus
Evolus (EOLS) investor relations material
Evolus Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary3 Mar, 2026
Executive summary
Achieved sixth consecutive year of double-digit revenue growth, with 2025 net revenue up 12% year-over-year to $297.2M and Q4 revenue up 14% to $90.3M, despite a rare decline in U.S. injectable procedural volumes.
Reached GAAP operating profitability in Q4 2025, with $4.2M operating income and $7.1M non-GAAP operating income, exceeding guidance.
Expanded from a single-product to a multi-product aesthetics portfolio, including JeuveauⓇ neurotoxin and Evolysse™ HA gels, with strong adoption and international revenue nearly doubling year-over-year.
Implemented structural expense reductions and improved operating leverage, positioning for sustainable annual profitability and free cash flow beginning in 2026.
Grew customer base to over 17,700 cumulative accounts and 1.4M loyalty program members, with digital engagement and repeat treatments increasing.
Financial highlights
Full-year 2025 global net revenue: $297.2M (+12% YoY); Q4 2025 net revenue: $90.3M (+14% YoY), with $83.1M from Jeuveau and $7.2M from Evolysse.
Q4 gross profit margin: 65.7% reported, 66.6% adjusted; full-year gross margin: 66.3% reported, 67.4% adjusted.
Q4 non-GAAP operating income: $7.1M; full-year non-GAAP operating loss: $9.4M.
Ended Q4 with $53.8M in cash, up from $43.5M at Q3 end.
Full-year GAAP operating expenses: $229.8M; non-GAAP: $209.7M.
Outlook and guidance
2026 net revenue guidance: $327M–$337M (10–13% YoY growth).
Adjusted gross profit margin for 2026 expected between 65.5% and 67%.
Non-GAAP operating expenses for 2026 expected at $210M–$216M (0–3% YoY growth).
Injectable HA gels expected to contribute 10–12% of 2026 revenue.
2028 outlook: $450M–$500M net revenue and 13–15% adjusted EBITDA margin.
New neurotoxin entrants' market impact?
Sculpt's impact on Evolysse portfolio growth?
2026 operating leverage impact on profitability?
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Next Evolus earnings date
Leerink Global Healthcare Conference 202611 Mar, 2026
Evolus
Next Evolus earnings date
Leerink Global Healthcare Conference 202611 Mar, 2026
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Frequently asked questions
Evolus, Inc. operates in the aesthetic medicine industry. It provides BOTOX products, JEUVEAU, and other aesthetic medicine products to dermatologists, facial plastic surgeons, oculoplastic surgeons, plastic surgeons, neurotologists, otolaryngologists/head and neck surgeons, and other physicians through tradeshows and medical conferences; eMarketplace portal on proprietary Website; and a sales force. The company was founded in 2012 and is based in Newport Beach, California.
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