Evolus (EOLS) Q3 2026 earnings summary

Executive summary

• Q3 net revenue was $77.952M, up 13.0% YoY; net loss narrowed to $12.516M from $15.737M, and Adjusted EBITDA was $1.154M for a fourth consecutive positive quarter.

• Nine-month revenue grew 13.7% to $235.2M; Adjusted EBITDA improved to positive $6.4M from a $16.5M loss.

• Strategy focuses on expanding the injectable portfolio, advancing pipeline opportunities and improving operating leverage.

Financial highlights

• Q3 revenue was $77.952M versus $68.967M; product revenue was $77.2M and Canadian service revenue was $0.7M.

• Q3 gross profit was $50.7M; reported gross margin was 65.0% versus 66.5% YoY, while adjusted gross margin was 66.1%.

• Q3 non-GAAP operating expenses were $50.339M; GAAP operating expenses were $59.114M.

• Q3 operating loss narrowed to $8.428M from $11.500M; diluted loss per share improved to $0.19 from $0.24.

• Nine-month net loss narrowed to $31.2M from $51.8M; diluted loss per share improved to $0.48 from $0.80.

Outlook and guidance

• FY2026 revenue guidance remains $330M–$337M, or 11%–13% growth; adjusted gross margin guidance remains 67.0%–67.5%.

• FY2026 non-GAAP operating expense guidance was lowered to $210M–$213M from $212M–$216M, implying 0%–2% growth over 2025.

• FY2026 Adjusted EBITDA margin outlook remains low- to mid-single digits; HA gels are expected to contribute 10%–12% of revenue, excluding Sculpt.

• 2028 targets remain $450M–$500M revenue and 13%–15% Adjusted EBITDA margin; revenue implies a three-year CAGR of 15%–19%.

• Sculpt U.S. approval is anticipated in Q4 2026; Lips approval is expected in 2027, with commercialization in Canada, Australia and New Zealand anticipated in 2028, subject to approvals.