Evolus Inc. (NASDAQ:EOLS) is one of the stocks that will double in 2026. On December 2, Mizuho lowered the firm’s price target on Evolus to $19 from $20, while keeping an Outperform rating on the shares. Mizuho lowered its estimates for Evolus’s products, Jeuveau and Evolysse, due to the recent decline in consumer sentiment. The firm now expects a higher probability of sustained inflationary pressure negatively impacting demand for elective injectable facial aesthetic procedures. Despite this headwind, Miz ...

Key Takeaways Bausch Health shares rose after Solta Medical acquired Wuhan Shibo Zhenmei.The deal gives Solta full control of its China distribution for devices like Thermage FLX.The acquisition aims to boost Solta's regional revenues, market position and efficiency.Shares of Bausch Health, Inc. (BHC) have gained 11% after the company announced the acquisition of Wuhan Shibo Zhenmei Technology Co., Ltd.Bausch Health’s aesthetics business, Solta Medical, acquired Wuhan Shibo Zhenmei Technology, consisting of ...

Core Insights - The BeautyHealth Company has appointed Philippe Schaison, a global aesthetics leader, to its Board of Directors, effective October 30, 2025, which is expected to enhance the company's growth and innovation in the beauty and aesthetics sector [1][3]. Company Overview - The BeautyHealth Company (NASDAQ: SKIN) is a medtech and beauty company that provides millions of skin health experiences annually, focusing on personalizing skin health for diverse demographics [4]. Leadership Experience - Dr. Schaison has over 20 years of experience in the global aesthetics, biotech, and consumer health industries, having held leadership positions at notable companies such as Allergan Aesthetics and Johnson & Johnson [2][3]. - He currently serves as CEO of Soltégo, Inc. and holds various board positions in biomedical companies, showcasing his extensive industry expertise [2]. Strategic Impact - Brent Saunders, Executive Chairman of BeautyHealth, emphasized that Dr. Schaison's experience in scaling beauty businesses and driving innovation will be invaluable for the company, particularly in maximizing the potential of the Hydrafacial brand [3]. - Dr. Schaison will also contribute to the Compensation and Nominating & Corporate Governance Committees, expanding the board to eight directors [3].

Financial Data and Key Metrics Changes - Global net revenue for Q2 2025 was $69.4 million, a 4% increase compared to 2024, driven by the successful launch of Evolisse and international revenue growth [28] - Reported gross margin for Q2 was 65.3%, with adjusted gross margin at 66.5%, impacted by a higher mix of international sales and introductory pricing for Evolisse [28][29] - GAAP operating expenses for Q2 were $55.5 million, down from $61.8 million in Q1, while non-GAAP operating expenses were $54 million compared to $52.9 million in Q1 [30][31] - Non-GAAP operating loss in Q2 was $7.9 million, compared to non-GAAP operating income of $1.1 million in 2024 [31] Business Line Data and Key Metrics Changes - Jeuveau experienced its first year-over-year decrease since launch, reflecting a decline in consumer sentiment and procedural volumes in the U.S. aesthetic toxin market [6][8] - Evolisse generated $9.7 million in revenue in its first quarter, marking the strongest first-quarter filler launch in over a decade [18] - The company maintained a 14% market share in the toxin market through the first half of the year, an increase from 13% in 2024 [15] Market Data and Key Metrics Changes - Procedural volumes in the U.S. toxin category have decreased over the past three consecutive quarters, with a notable impact on Jeuveau demand in Q2 [8][10] - Surveys indicated a potential rebound in patient volume in the second half of the year, with a majority of practices expecting growth of over 10% [9] Company Strategy and Development Direction - The company revised its 2025 revenue guidance to a range of $295 million to $305 million, reflecting 11% to 15% growth over 2024 [11][34] - Evolisse is expected to contribute 10% to 12% of total revenue for 2025, with a focus on maintaining long-term growth and profitability [20][34] - The company aims to achieve $700 million in revenue by 2028, with a non-GAAP operating income margin of 20% [33][34] Management's Comments on Operating Environment and Future Outlook - Management noted that the market environment has been challenging, with a significant slowdown in demand observed in the last two weeks of Q2 [6][10] - Despite the challenges, management expressed confidence in the company's ability to deliver sustainable growth, supported by strong early adoption of Evolisse and ongoing international expansion [21][90] Other Important Information - The company has implemented strategic reductions in operating expenses, resulting in over $25 million in annualized savings, while maintaining investment in customer-facing activities [13][34] - Evolus Rewards program saw record redemptions of over $224,000, with 65% coming from repeat patients, indicating strong brand loyalty [16] Q&A Session Summary Question: What dynamics are being seen regarding reduced demand? - Management indicated that procedural demand declined in the high single digits, with the slowdown not driven by competitive dynamics but rather overall market conditions [36][38] Question: What was the impact of inventory buying on recorded revenue? - Management suggested that the initial revenue from Evolisse included both stocking and pull-through elements, making it difficult to quantify precisely [40] Question: How do you explain the improvement seen in July? - Management noted a significant shift in business in July, correlating with internal and third-party research indicating a potential rebound [41] Question: What are the expectations for toxin demand trends? - Management highlighted that overall procedural volume did slow in the first half of the year, with some competitors experiencing significant declines [51] Question: What promotional activities are planned for Q4? - Management mentioned adjustments to promotional strategies to help practices with pull-through, including collaborations with beauty magazines [54] Question: What is driving the current consumer sentiment? - Management noted that consumers earning $150,000 or less are feeling the pinch from increased prices and tariffs, impacting their spending on aesthetic treatments [67] Question: How does the company plan to achieve its 2028 targets? - Management reiterated confidence in reaching the $700 million target, emphasizing that the revised guidance does not change the long-term outlook [87]

Market Position and Growth - Evolus is gaining market share in the fast-growing neurotoxin market[16] - Jeuveau's share of the toxin market has increased from 4% in 2019 to 14% in 2025[19] - The global addressable market for neurotoxins and fillers is expected to grow to $7 billion in 2028[20] - Evolus International is expected to achieve $100 million in 2028[23] Financial Performance - The company has exhibited double-digit revenue growth for the fifth consecutive year[28] - Net revenue is projected to be between $295 million and $305 million in 2025, representing 11% to 15% growth over 2024[29, 118] - Evolysse contributed 10%-12% of total revenue for the full year 2025[108, 118] - The company is projecting $700 million total net revenue by 2028[119] Product and Strategy - The company's total addressable market expands by 78% with the addition of the injectable HA gel portfolio[16] - Evolysse was the strongest first quarter filler launch in over a decade[106] - Evolus Rewards program has over 1.2 million total enrollments in Q2 2025[62, 113] - 70% of toxin consumers also use a filler[74]

Financial Data and Key Metrics Changes - For Q4 2024, revenue totaled $39.2 million, a decline of 17.7% from Q4 2023, with case volume down 16.7% year-over-year [13][33] - Adjusted EBITDA was $1.9 million or 4.7% of revenue, compared to $10.1 million or 21.2% of revenue in the same quarter last year [16][38] - For the full year, revenues were $180.4 million, a decline of 7.9% from fiscal 2023, with adjusted EBITDA of $20.7 million and an adjusted EBITDA margin of 11.5% [18][39] Business Line Data and Key Metrics Changes - Same-store revenue declined 22.6% year-over-year in Q4 2024, reflecting challenges in the aesthetics market [13][33] - The percentage of patients using financing for procedures was 50%, down from 53% in previous quarters [34] Market Data and Key Metrics Changes - The company operates in a $11 billion total addressable market in the U.S. [11] - The consumer backdrop remains challenging, impacting sales across the aesthetics space [14] Company Strategy and Development Direction - The company aims to enhance its culture and align on a singular vision while improving its go-to-market strategy to drive consistent revenue growth [20] - Five key priorities include marketing to drive consumer interest, sales to convert leads, new services to tap into demand, customer experience improvements, and technology enhancements [20][28] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that Q4 2024 was a challenging period but remains confident in the strategy to restore growth and profitability [44] - The company expects Q1 same-store revenue performance to mirror Q4 2024 trends, with sequential improvement anticipated as marketing spend increases [30][42] Other Important Information - The company has paused new center openings to focus on improving same-center performance [29] - A revised credit agreement enhances the company's ability to invest in the business during the transformation [31][41] Q&A Session Summary Question: Can you provide more color on sequential growth expectations? - Management expects to see a similar seasonal trend with sequential improvement in same-store performance year-over-year, anticipating Q2 to be higher than Q1 [51] Question: What are the liquidity improvement actions being taken? - The company drew down on its revolving credit facility to maintain marketing efforts while facing challenges in Q4 results [56] Question: Can you elaborate on the marketing spend versus customer acquisition cost (CAC)? - The elevated CAC was driven by lower case volumes and reduced lead volumes due to decreased marketing spend [62] Question: What is the status of the cost savings program? - The company has executed a $3 million annual savings plan primarily from corporate headcount reductions, with benefits expected to start in Q1 [67] Question: Can you provide specifics on new marketing efforts? - The company is utilizing a combination of paid search and social marketing, with a focus on returns-based approaches and testing new channels like online video [72] Question: What are the plans for new services, particularly skin tightening? - The company plans to pilot skin tightening as a standalone service, capitalizing on consumer interest and trends [76]