Evolus, Inc. is a performance beauty enterprise that furnishes the United States market with medical aesthetic solutions for healthcare professionals and their ...
Evolus, Inc. is a performance beauty enterprise founded in 2012 and headquartered in Newport Beach, California, trading on NASDAQ under EOLS. The company focuses on the cash-pay aesthetic market, providing innovative products for healthcare professionals and patients. Its flagship product, Jeuveau, is a purified botulinum toxin type A (900 kDa) ...Evolus, Inc. is a performance beauty enterprise founded in 2012 and headquartered in Newport Beach, California, trading on NASDAQ under EOLS. The company focuses on the cash-pay aesthetic market, providing innovative products for healthcare professionals and patients. Its flagship product, Jeuveau, is a purified botulinum toxin type A (900 kDa) designed to temporarily smooth moderate-to-severe glabellar lines, capturing significant U.S. market share (14%) and delivering sustained growth. Evolus has expanded its portfolio with Evolysse, a next-generation dermal filler based on cold technology by Symatese, and Estyme injectables, targeting a broader aesthetic injectable market. As of the latest TTM data, Evolus employs 334 people and operates in the U.S., Canada, and Europe. Financially, the company is experiencing rapid growth, with a market cap of ~$500M and enterprise value of ~$619M, though it currently operates at a net loss (net profit margin of -10.8%) with an EV-to-sales of 1.96, reflecting investment in commercialization. Its gross profit margin is healthy at 66.2%, but operating expenses (SG&A at 68.4% of revenue) and R&D (3.1%) indicate heavy spending on sales and growth. The company has a negative book value and relies on debt, with a debt-to-equity of -5.33, indicating financial leverage. However, its cash conversion cycle of ~60 days and inventory turnover suggest operational efficiency. Key leadership includes CEO David Moatazedi and CFO Tatjana Mitchell. With a focus on next-generation beauty products and international expansion, Evolus aims to redefine the aesthetic injectable market, targeting a younger demographic and providing more affordable options.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$297.2M
+11.6%
+15.0%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-51.6M
-2.4%
+24.6%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+64.9%
-5.3%
+5.0%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-12.7%
+2.1%
+42.4%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-17.4%
+8.2%
+34.4%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-50.7M
-160.5%
+79.7%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-17.1%
-133.4%
+82.4%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
-670.8%
-128.5%
+6.9%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.90x
-21.0%
-16.9%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good afternoon, everyone, and thank you for standing by. Welcome to Evolus Second Quarter 26 Earnings Call. As a reminder, today's conference call is being recorded and webcast live. All participants are in a listen-only mode. After the speakers' remarks, there will be a Q&A session. I would now like to turn the conference over to Nareg Sagherian, Vice President and Head of Global Investor Relations and Corporate Communications. Please go ahead.
Nareg Sagherian: Thank you, operator. Welcome to everyone joining us on today's call to review Evolus' second quarter financial results. Our second quarter press release is now available on the Investor Relations section of our website at evolus.com. Joining me on today's call are David Moatazedi, President and Chief Executive Officer Rui Avelar, Chief Medical Officer and Head of R&D and Tiana Mitchell, Chief Financial Officer. Today's call will include forward-looking statements. Actual results may differ materially due to risks and uncertainties outlined in our earnings press release and SEC filings. These forward-looking statements are based on current assumptions, and we undertake no obligation to update them. Additionally, we will discuss certain non GAAP financial measures. These measures should be considered in addition to and not as a substitute for our GAAP results. A reconciliation of GAAP to non GAAP measures is included in today's earnings release. As a reminder, our earnings release and SEC filings are available on the SEC's website and on our Investor Relations website. Following the conclusion of today's call, a replay will be available on our website at investors.evolus.com. With that, I will turn the call over to our CEO, David Moatazedi.
David Moatazedi: Thank you, Nareg and good afternoon, everyone. The second quarter represents a meaningful inflection point for Evolus. We delivered 21% revenue growth generated our third consecutive quarter of positive adjusted EBITDA. Expanded our international footprint with the launch of Estyme in Europe, and announced 2 strategic licensing agreements that further strengthen our long term portfolio. Importantly, Evolus gained significant share across The U.S. injectable aesthetics market during the quarter. Underscoring the growing momentum of our portfolio strategy across both neurotoxins and hyaluronic acid gels. Reflecting the strength of our first half performance, we also raised our full year 2026 financial outlook. As we enter the second half of the year, we are well positioned to build on this momentum. Consumer demand continued to strengthen during the quarter. Treatment intervals remained stable and practitioners reported healthy patient traffic and engagement. We estimate The U.S. neurotoxin market grew at a faster than expected mid single digit growth rate during the quarter. While the hyaluronic acid gel market returned to positive growth following 2 consecutive years of declines. Consumers continue to prioritize aesthetic …