UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________ FORM 10-Q _________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ ...

| --- | --- | --- | |-------|------------------------------------|-------| | | | | | | | | | | evolus™ Q2 2020 Financial Appendix | | | | August 10, 2020 | | | --- | |-------------------| | | | OUR PURPOSE | | To make the | | beauty experience | | delightful and | | achievable | her | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

| --- | --- | |-------|-------| | | | | | | | --- | |-------------------| | | | OUR PURPOSE | | To make the | | beauty experience | | delightful and | | achievable | her | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Evolus, Inc. (NASDAQ:EOLS) Q1 2020 Earnings Conference Call May 11, 2020 4:30 PM ET Company Participants Ashwin Agarwal – Vice President, Finance, Investor Relations and Treasury David Moatazedi – President and Chief Executive Officer Lauren Silvernail – Chief Financial Officer and Executive Vice President, Corporate Development Conference Call Participants Roanna Ruiz – SVB Leerink Annabel Samimy – Stifel Louise Chen – Cantor Gregg Gilbert – SunTrust Vamil Divan – Mizuho Securities Douglas Tsao – H.C. Wain ...

[Special Note Regarding Forward-Looking Statements](index=3&type=section&id=Special%20Note%20Regarding%20Forward-Looking%20Statements) The report contains forward-looking statements subject to significant risks and uncertainties that could cause actual results to differ materially - The forward-looking statements are subject to significant risks and uncertainties that could cause actual results to differ materially[9](index=9&type=chunk) - Key risk areas highlighted include the ability to successfully commercialize the sole product, **Jeuveau®**[9](index=9&type=chunk) - The potential future impact of the **COVID-19 pandemic** on sales, operations, and financial condition is a major uncertainty[9](index=9&type=chunk)[10](index=10&type=chunk) - The company's performance depends on third-party suppliers and manufacturers[9](index=9&type=chunk) - The results and impact of current and future legal proceedings pose a significant risk[9](index=9&type=chunk) [PART I - FINANCIAL INFORMATION](index=5&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) The unaudited condensed financial statements reflect the company's position and performance during its initial commercialization period [Condensed Balance Sheets](index=5&type=section&id=Condensed%20Balance%20Sheets) The balance sheet shows decreased cash and total assets, reflecting the net loss incurred during the quarter Condensed Balance Sheet Highlights (in thousands) | Account | March 31, 2020 | December 31, 2019 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $34,652 | $109,892 | | Total current assets | $126,142 | $152,197 | | Total assets | $214,151 | $240,442 | | **Liabilities & Equity** | | | | Total current liabilities | $22,613 | $24,439 | | Total liabilities | $151,545 | $160,985 | | Total stockholders' equity | $62,606 | $79,457 | [Condensed Statements of Operations and Comprehensive Loss](index=6&type=section&id=Condensed%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) The company reported its first revenues of $10.5 million but incurred a net loss of $19.7 million due to commercialization costs Statement of Operations Summary (in thousands, except per share data) | Metric | Three Months Ended March 31, 2020 | Three Months Ended March 31, 2019 | | :--- | :--- | :--- | | Net revenues | $10,496 | $— | | Gross profit | $6,277 | $— | | Loss from operations | $(17,395) | $(25,269) | | Net loss | $(19,735) | $(10,975) | | Net loss per share | $(0.59) | $(0.40) | [Condensed Statements of Cash Flows](index=8&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) The company used $27.9 million in cash for operating activities, an increase reflecting costs of the commercial launch Cash Flow Summary (in thousands) | Activity | Three Months Ended March 31, 2020 | Three Months Ended March 31, 2019 | | :--- | :--- | :--- | | Net cash used in operating activities | $(27,947) | $(19,200) | | Net cash used in investing activities | $(46,188) | $(80,025) | | Net cash (used in) provided by financing activities | $(1,105) | $60,430 | | **Change in cash and cash equivalents** | **$(75,240)** | **$(38,795)** | [Notes to Condensed Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Financial%20Statements) The notes detail the company's single-product focus, liquidity assessment, significant legal proceedings, and COVID-19 responses - The company's business is focused on its first product, **Jeuveau®**, a 900 kDa purified botulinum toxin type A, launched in the U.S. in May 2019[36](index=36&type=chunk) - Management expects **operating losses and negative cash flows to continue** for at least the next 12 months but believes current capital is sufficient[37](index=37&type=chunk)[39](index=39&type=chunk) - The company is a defendant in a lawsuit and an ITC investigation that could **bar the importation and sale of Jeuveau®** in the United States[141](index=141&type=chunk)[144](index=144&type=chunk) - In response to COVID-19, the company announced significant expense reductions, including **separating approximately 100 employees**[167](index=167&type=chunk) - The company has a credit facility with Oxford Finance for up to $100 million, with a **$75 million tranche funded** in March 2019[122](index=122&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the financial results, the impact of COVID-19, cost-saving measures, and future liquidity [Impact of COVID-19 Outbreak on Our Business](index=34&type=section&id=Impact%20of%20COVID-19%20Outbreak%20on%20Our%20Business) The COVID-19 outbreak severely impacted sales, leading to significant cost-reduction measures and operational changes - The COVID-19 outbreak led to a **dramatic decline in elective procedures**, negatively affecting sales and accounts receivable collections[179](index=179&type=chunk)[180](index=180&type=chunk) - In April 2020, the company implemented cost-saving measures, including **reducing headcount by over 100 employees** and delaying the European launch[181](index=181&type=chunk) [Results of Operations](index=37&type=section&id=Results%20of%20Operations) The analysis compares Q1 2020 to Q1 2019, highlighting initial revenues and increased SG&A from commercialization Comparison of Results of Operations (in millions) | Metric | Q1 2020 | Q1 2019 | Change | | :--- | :--- | :--- | :--- | | Net Revenues | $10.5 | $— | $10.5 | | Gross Profit | $6.3 | $— | $6.3 | | Selling, general and administrative | $31.3 | $17.5 | $13.8 | | Research and development | $0.5 | $2.4 | $(1.9) | | Net loss | $(19.7) | $(11.0) | $(8.7) | - The increase in SG&A expenses was primarily due to higher personnel-related costs from **hiring a U.S. sales force** and building out commercial infrastructure[194](index=194&type=chunk) [Liquidity and Capital Resources](index=38&type=section&id=Liquidity%20and%20Capital%20Resources) The company has sufficient capital for the next twelve months despite expecting continued losses and missing a credit milestone - As of March 31, 2020, the company had **cash and cash equivalents of $34.7 million** and short-term investments of $65.0 million[203](index=203&type=chunk) - The company **does not expect to meet the net sales milestone** to draw the second $25.0 million tranche of its credit facility[206](index=206&type=chunk) - Management believes **current capital resources are sufficient** to fund operations for at least the next twelve months[213](index=213&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=42&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is noted as not applicable for this reporting period - Not applicable[228](index=228&type=chunk) [Item 4. Controls and Procedures](index=43&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective with no material changes in internal controls - Based on an evaluation as of March 31, 2020, the CEO and CFO concluded that the company's **disclosure controls and procedures were effective**[230](index=230&type=chunk) - There were **no changes in internal control over financial reporting** during the quarter that have materially affected, or are reasonably likely to materially affect, such controls[232](index=232&type=chunk) [PART II - OTHER INFORMATION](index=44&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=44&type=section&id=Item%201.%20Legal%20Proceedings) No material developments in legal proceedings have occurred since the last annual report - There have been **no material developments** with respect to legal proceedings since the company's 2019 Annual Report on Form 10-K[235](index=235&type=chunk) [Item 1A. Risk Factors](index=45&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks from the COVID-19 pandemic, single-product dependency, competition, and legal challenges - The **COVID-19 outbreak is a primary risk**, having caused a dramatic decline in elective procedures and potentially leading to prolonged negative impacts[239](index=239&type=chunk)[241](index=241&type=chunk) - The company's business **depends entirely on the successful commercialization of its only product, Jeuveau®**, and it faces significant competition[247](index=247&type=chunk)[253](index=253&type=chunk) - **Ongoing litigation with Medytox and Allergan at the ITC poses a critical risk**; an adverse ruling could result in an exclusion order barring imports and sales of Jeuveau®[286](index=286&type=chunk) - The company **relies solely on Daewoong in South Korea for manufacturing**, making it vulnerable to production disruptions or regulatory issues[267](index=267&type=chunk)[320](index=320&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=79&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered sales of equity securities during the period - None[497](index=497&type=chunk) [Item 3. Defaults Upon Senior Securities](index=79&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This section is noted as not applicable - Not applicable[499](index=499&type=chunk) [Item 4. Mine Safety Disclosures](index=79&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is noted as not applicable - Not applicable[501](index=501&type=chunk) [Item 5. Other Information](index=79&type=section&id=Item%205.%20Other%20Information) The company reports no other information to disclose for this period - None[503](index=503&type=chunk) [Item 6. Exhibits](index=80&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the report, including officer certifications and XBRL data files - Filed exhibits include **CEO and CFO certifications** pursuant to Rule 13a-14(a) and Section 906 of the Sarbanes-Oxley Act[506](index=506&type=chunk) - Interactive Data Files (XBRL documents) are also included as exhibits[507](index=507&type=chunk) [Signatures](index=81&type=section&id=Signatures) The report is duly signed and authorized by the company's principal executive and financial officers on May 11, 2020 - The report was signed on May 11, 2020, by **David Moatazedi, President and Chief Executive Officer**, and **Lauren Silvernail, Chief Financial Officer**[514](index=514&type=chunk)[515](index=515&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _____________________________ FORM 10-K _____________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38381 _____________________________ EVOLUS, INC. (Exact name of registrant as speci ...

Evolus, Inc. (NASDAQ:EOLS) Q4 2019 Results Conference Call February 25, 2020 8:00 AM ET Company Participants Ashwin Agarwal - VP, Finance, IR and Treasury David Moatazedi - President and CEO Lauren Silvernail - CFO and EVP Corporate Development Mike Jafar - Chief Marketing Officer Conference Call Participants Rudy Li - SVB Leerink Gregg Gilbert - SunTrust Annabel Samimy - Stifel Louise Chen - Cantor Douglas Tsao - H.C. Wainwright Balaji Prasad - Barclays Vamil Divan - Mizuho Operator Ladies and gentlemen, g ...

| --- | --- | |-------|-------| | | | | | | | --- | |-------------------| | | | OUR PURPOSE | | To make the | | beauty experience | | delightful and | | achievable | her | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

| --- | --- | |---------------|-------| | | | | | | | | | | | | | | | | 8 | | | evolus™ | | | November 2019 | | | --- | --- | |-------------|-------| | | | | OUR GOAL - | | | To make the | | | --- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________ FORM 10-Q _________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to _______ ...