Summary of Evolus Conference Call Company Overview - Evolus is currently in a significant growth phase, having launched its second product, Evolysse, alongside its flagship product Jeuveau, which has established a strong market presence in the U.S. and Europe [2][3][4] Key Points and Arguments Product Development and Market Position - Jeuveau has been recognized as the fastest-growing brand in the U.S. aesthetic market, capturing mid-teens market share, marking the first time a company has achieved double-digit market share since the entry of the first two players [2][4] - Evolysse is positioned as a differentiated product utilizing new technology (COLDEX) for hyaluronic acid (HA) production, with plans to introduce a sculpt product for the mid-face in the upcoming year [3][4][22] - The company has built a customer base of 17,000 clinics across the U.S., which presents significant growth opportunities as it enters the second phase of commercialization [3][4] Market Dynamics and Performance - Despite a challenging macroeconomic environment, Evolus has reported double-digit growth, with Jeuveau continuing to grow in the U.S. and strong international performance, particularly in the U.K. [4][5][48] - The aesthetic market, particularly for neuromodulators, has historically shown resilience during economic downturns, although current conditions are presenting unique challenges [6][7][8] - The company anticipates a rebound in the market, driven by pent-up consumer demand, as consumers are currently delaying treatments due to economic pressures [8][9] Competitive Landscape - The competitive landscape includes established players like AbbVie and Galderma, with Evolus focusing on differentiating its products through quality and innovative marketing strategies [6][7][9] - Evolus has successfully positioned Jeuveau against Botox through head-to-head clinical trials, demonstrating superior efficacy in multiple endpoints [12][13][14] Consumer Trends and Marketing Strategy - There is a growing consumer trend towards preventive aesthetic treatments, with younger demographics increasingly seeking these services [7][8] - Evolus has launched a campaign to rebrand HA fillers, moving away from the term "filler" to "injectable HA," which has resonated positively with consumers [29][30] - The company is leveraging its loyalty program to encourage repeat purchases and cross-selling between Jeuveau and Evolysse [19][22] Financial Outlook and Business Development - Evolus has access to $100 million in capital for business development, with a focus on achieving profitability by the fourth quarter of 2025 and for the full year of 2026 [41][42][48] - The company expects to see sequential improvement in performance as it wraps around a depressed market base, with a strong international growth trajectory anticipated [46][47][48] Future Product Pipeline - The introduction of the Skulpt product is expected in the second half of 2026, which will complement the existing HA product line and enhance the company's market position [46][47] - Evolus is exploring opportunities in biostimulators and other innovative products to expand its portfolio [43][44] Additional Important Insights - The company has successfully reduced expenses by $25 million, positioning itself for profitability amidst a declining market [48] - Evolus is focused on building partnerships with clinics, emphasizing the importance of training and support for product adoption [20][21][25] This summary encapsulates the key insights from the Evolus conference call, highlighting the company's strategic direction, market dynamics, and future growth potential.

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Core Insights - Evolus, Inc. reported a quarterly loss of $0.14 per share, better than the Zacks Consensus Estimate of a loss of $0.19, marking an earnings surprise of +26.32% [1] - The company posted revenues of $68.97 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.70% and showing an increase from $61.08 million year-over-year [2] - Evolus shares have declined approximately 41.9% year-to-date, contrasting with the S&P 500's gain of 15.1% [3] Financial Performance - Over the last four quarters, Evolus has exceeded consensus EPS estimates only once [2] - The current consensus EPS estimate for the upcoming quarter is $0.12 on revenues of $91.18 million, while for the current fiscal year, it is -$0.48 on revenues of $297.1 million [7] Market Outlook - The company's earnings outlook and management's commentary during the earnings call will be crucial for future stock price movements [3][4] - The Zacks Rank for Evolus is currently 2 (Buy), indicating expectations for the stock to outperform the market in the near future [6] Industry Context - The Medical - Products industry, to which Evolus belongs, is currently ranked in the bottom 40% of over 250 Zacks industries, which may impact stock performance [8] - Comparatively, ICU Medical, another company in the same industry, is expected to report a quarterly earnings decline of -3.1% year-over-year [9]

Financial Data and Key Metrics Changes - Global net revenue for Q3 2025 was $69 million, representing a 13% increase compared to Q3 2024 [30] - Gross margin for Q3 was reported at 66.5%, with adjusted gross margin at 67.6% [31] - Non-GAAP operating loss for Q3 was $3.1 million, an improvement from a loss of $6.7 million in Q3 2024 [35] Business Line Data and Key Metrics Changes - Jeuveau revenue for Q3 was $63.2 million, while Evolisse contributed $5.7 million [31] - The Evolus consumer loyalty program grew to over 1.3 million members, a 34% increase year-on-year [7] - Evolisse's revenue increased sequentially to approximately $5 million after initial stocking [14] Market Data and Key Metrics Changes - The U.S. aesthetic market remains down in single digits, but Jeuveau outperformed the category with unit volume growth year-to-date [10][12] - The company strengthened its market share to 14% in the U.S. year-to-date [13] Company Strategy and Development Direction - Evolus aims to achieve profitability in 2025 and sustainable annual profitability starting in 2026 [11][37] - The company is focusing on expanding its portfolio and has introduced a bundled offering to drive market share gains [15][56] - Evolus is actively pursuing strategic business development opportunities to expand its pipeline [29] Management's Comments on Operating Environment and Future Outlook - Management noted early signs of stabilization in consumer demand for injectables, despite challenges in the aesthetic market [11] - The company remains confident in navigating potential tariff impacts and maintaining financial performance [18][32] Other Important Information - Evolus submitted a PMA to the U.S. FDA for Evolve's Sculpt, with potential approval anticipated in 2026 [17] - The company has taken proactive measures to mitigate potential tariff impacts on pharmaceuticals, including Jeuveau [18][32] Q&A Session Summary Question: Can you discuss the dynamics of Evolisse and the impact of market sentiment? - Management highlighted that initial training is crucial for product adoption, with significant inflection points observed after second training sessions [44][45] - The market is currently facing challenges, but Q4 is expected to be stronger due to accumulated experience and seasonal factors [48] Question: What are the usage trends between Evolisse Smooth and Form? - Both products are used for the nasolabial fold, but Smooth is preferred for a softer effect while Form provides more structure [57][62] Question: Can you elaborate on the sequential growth for Jeuveau in Q3? - The company maintained consistent promotional efforts and engaged consumers through loyalty programs, which contributed to the growth [66] Question: What is the split between U.S. and international sales for Jeuveau? - The company does not provide detailed segment reporting but noted growth in both U.S. and international markets [71][73] Question: What are the potential impacts of tariffs on the business? - Management is closely monitoring tariff developments and has taken steps to mitigate potential impacts, including pulling forward inventory purchases [103][104]

Revenue Performance - Product revenue increased by $8.8 million, or 14.6%, to $68.97 million for the three months ended September 30, 2025, compared to $60.16 million for the same period in 2024[186]. - Total net revenues rose by $7.9 million, or 12.9%, to $68.97 million for the three months ended September 30, 2025, driven by the launch of Evolysse™ and increased sales of Jeuveau[187]. - Total net revenues for the nine months ended September 30, 2025, increased by $19.6 million, or 10.4%, to $206.88 million from $187.33 million in 2024[200]. Cost and Expenses - Cost of goods sold increased by $4.1 million, or 21.8%, to $23.13 million for the three months ended September 30, 2025, primarily due to higher volumes of Jeuveau and Evolysse[188]. - Selling, general and administrative expenses increased by $0.3 million, or 0.6%, to $52.82 million for the three months ended September 30, 2025, primarily due to higher selling-related costs[190]. - Research and development expenses decreased by $0.3 million, or 11.6%, to $2.05 million for the three months ended September 30, 2025, due to lower clinical operations costs[191]. - Cost of goods sold for the nine months ended September 30, 2025, increased by $11.4 million, or 19.8%, to $69.06 million from $57.66 million in 2024[201]. - Selling, general and administrative expenses increased by $18.3 million, or 12.4%, to $166.1 million for the nine months ended September 30, 2025[203]. - Research and development expenses decreased by $0.6 million, or 9.6%, to $6.1 million for the nine months ended September 30, 2025[204]. - Depreciation and amortization increased by $1.3 million, or 77.5%, to $2.9 million for the nine months ended September 30, 2025[206]. - Restructuring costs were $1.4 million in the nine months ended September 30, 2025, with no costs incurred in the prior year[207]. Profitability and Loss - Gross profit margin decreased to 66.5% for the three months ended September 30, 2025, down from 68.9% in the same period of 2024[189]. - Gross profit margin was 66.6% for the nine months ended September 30, 2025, down from 69.2% in 2024[202]. - Net loss for the three months ended September 30, 2025, was $15.74 million, compared to a net loss of $19.17 million for the same period in 2024[186]. - Net loss was $51.8 million for the nine months ended September 30, 2025, compared to a net loss of $43.6 million in 2024[212]. Cash Flow and Financial Position - Cash and cash equivalents as of September 30, 2025, were $43.5 million, with positive working capital of $68.2 million[211]. - Cash used in operating activities increased to $55.1 million for the nine months ended September 30, 2025, compared to $22.8 million for the same period in 2024, primarily due to a higher net loss and increased inventory purchases[227]. - Cash used in investing activities rose to $6.3 million in the nine months ended September 30, 2025, up from $3.5 million in the same period in 2024, driven by a $2.8 million increase in expenditures on capitalized internal-use software and property and equipment[228]. - Cash provided by financing activities decreased to $17.3 million for the nine months ended September 30, 2025, compared to $48.7 million in the same period in 2024, mainly due to lower cash receipts from stock options and the absence of a follow-on equity offering[229]. - Cash and cash equivalents decreased to $43.5 million at the end of the nine months ended September 30, 2025, down from $85.0 million at the end of the same period in 2024[226]. Obligations and Future Commitments - The company has an accumulated deficit of $661.2 million as of September 30, 2025[212]. - The fair value of contingent royalty obligations to Evolus Founders was recorded at $36.7 million as of September 30, 2025[217]. - The company has approximately $65 million in future interest payments on outstanding New Pharmakon Term Loans, with $14.1 million due within the next twelve months[232]. - The company is obligated to make quarterly royalty payments based on a low single-digit percentage of net sales of Jeuveau, which will terminate after the 10-year anniversary of its first commercial sale in the U.S.[232]. - Milestone payments under the Symatese U.S. Agreement total €12.1 million, contingent on FDA approval of three Evolysse™ products, with specific amounts due at various future dates[232]. Market Risks - The company is exposed to market risks primarily from fluctuations in interest rates and foreign currency exchange rates, with no material changes reported since the last annual report[236][237].

2 INVESTOR PRESENTATION NOVEMBER 2025 DISCLOSURES FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position; business strategy; the market growth for our product; our ability to meet our goals related to the market position of our product and ...

Financial Performance - Total net revenue for Q3 2025 was $69.0 million, a 13% increase from Q3 2024, driven by the introduction of Evolysse and growth in global Jeuveau revenue [5]. - Global Jeuveau net revenue reached $63.2 million for Q3 2025, up from $59.7 million in Q2 2025, reflecting sequential growth that outperformed typical seasonal trends [5]. - Evolysse generated $5.7 million in revenue for Q3 2025, marking the strongest hyaluronic acid filler debut in over a decade [5]. - Product revenue for Q3 2025 reached $68.967 million, a 14.7% increase from $60.164 million in Q3 2024 [23]. - Total net revenues for the nine months ended September 30, 2025, were $206.876 million, compared to $187.327 million for the same period in 2024, reflecting a growth of 10.5% [23]. Profitability and Loss - The company expects to achieve positive non-GAAP operating income of $5 million to $7 million in Q4 2025, remaining on track for sustainable annual profitability beginning in 2026 [5]. - GAAP loss from operations for Q3 2025 was $11.5 million, an improvement from $15.5 million in Q3 2024 [7]. - The net loss for Q3 2025 was $15.737 million, compared to a net loss of $19.170 million in Q3 2024, showing an improvement of 17.5% [23]. - Non-GAAP loss from operations for Q3 2025 was $3.079 million, an improvement from a loss of $6.738 million in Q3 2024 [33]. - The company reported a comprehensive loss of $15.275 million for Q3 2025, compared to a comprehensive loss of $19.258 million in Q3 2024 [23]. Guidance and Future Plans - The company reaffirms its 2025 net revenue guidance of $295 million to $305 million, representing 11% to 15% growth over 2024 results [8]. - Evolus plans to launch Evolysse Sculpt in the U.S. in 2026 and Evolysse Lips in 2027, with a target of $700 million in total net revenue by 2028 [8]. Customer and Market Growth - Total purchasing accounts increased by nearly 500 in Q3 2025, with over 17,000 customers having purchased from Evolus since launch [6]. - Evolus Rewards consumer loyalty program members grew by over 79,000 during the quarter, surpassing 1.3 million, representing a total increase of 34% compared to Q3 2024 [9]. Expenses and Margins - Gross profit margin for Q3 2025 was 66.5%, while adjusted gross profit margin was 67.6% [7]. - Gross profit margin for Q3 2025 was 66.5%, down from 68.9% in Q3 2024 [29]. - Operating expenses for Q3 2025 were $57.341 million, slightly down from $57.572 million in Q3 2024 [31]. - Research and development expenses for the nine months ended September 30, 2025, were $6.095 million, compared to $6.742 million for the same period in 2024 [23]. Cash and Liabilities - Cash and cash equivalents decreased to $43.523 million as of September 30, 2025, from $86.952 million at the end of 2024 [25]. - Total liabilities increased to $247.757 million as of September 30, 2025, compared to $227.047 million at the end of 2024 [25].

Wall Street expects flat earnings compared to the year-ago quarter on higher revenues when Evolus, Inc. (EOLS) reports results for the quarter ended September 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on ...

Core Insights - A board-certified plastic surgeon is collaborating with Evolus to enhance the rollout of a new hyaluronic acid technology, emphasizing the importance of expertise in facial anatomy and injectable treatments [1] - The partnership highlights Evolus' dedication to patient safety and provider education regarding their newly FDA-approved filler line [1] Company Overview - Evolus is focusing on the nationwide introduction of a breakthrough hyaluronic acid filler, which has received FDA approval [1] - The involvement of a certified plastic surgeon indicates a strategic move to ensure high standards in treatment and education for healthcare providers [1] Industry Implications - The collaboration may set a precedent in the aesthetic industry for prioritizing safety and education in the use of injectable treatments [1] - The FDA approval of the new filler line could enhance market competitiveness and consumer trust in Evolus' products [1]

Core Viewpoint - Evolus, Inc. has granted stock options and restricted stock units to newly hired employees, indicating a focus on incentivizing talent acquisition and retention in the performance beauty sector [1] Summary by Category Stock Options and RSUs - The company granted non-qualified stock options to purchase a total of 8,744 shares of common stock [1] - Additionally, 15,000 restricted stock units (RSUs) were awarded to 6 newly hired non-executive employees [1] - Evolus also allocated 143,403 shares of common stock and 104,603 RSUs to other employees, reflecting a broader strategy to enhance employee engagement and align interests with shareholders [1]