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EOLS

Evolus, Inc.

EOLS

Evolus, Inc. • NASDAQ
$7.16 ▲ 1.70% (+0.12)
Market Cap $464.11 M
52w High $17.12
52w Low $5.71
Dividend Yield 0%
P/E -7.96
Volume 457.16K
Outstanding Shares 64.82M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $68.967M ▼ $57.341M ▲ $-15.737M ▲ -22.818% ▲ $-0.24 ▲ $-9.525M ▼
Q2-2025 $69.387M ▲ $55.53M ▼ $-17.142M ▲ -24.705% ▲ $-0.27 ▲ $-7.835M ▲
Q1-2025 $68.522M ▼ $61.827M ▲ $-18.892M ▼ -27.571% ▼ $-0.3 ▼ $-12.579M ▼
Q4-2024 $78.947M ▲ $52.658M ▼ $-6.791M ▲ -8.602% ▲ $-0.11 ▲ $625K ▲
Q3-2024 $61.085M $58.335M $-19.17M -31.382% $-0.3 $-13.001M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $43.523M ▼ $218.997M ▼ $247.757M ▲ $-28.76M ▼
Q2-2025 $61.738M ▼ $228.803M ▲ $247.455M ▲ $-18.652M ▼
Q1-2025 $67.894M ▼ $213.361M ▼ $219.965M ▼ $-6.604M ▼
Q4-2024 $86.952M ▲ $232.569M ▲ $227.047M ▲ $5.522M ▼
Q3-2024 $85.035M $229.608M $223.718M $5.89M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-15.737M ▲ $-14.669M ▲ $-2.158M ▲ $-1.772M ▼ $-18.215M ▼ $-16.827M ▲
Q2-2025 $-17.142M ▲ $-24.791M ▼ $-2.267M ▼ $20.663M ▲ $-6.156M ▲ $-25.479M ▼
Q1-2025 $-18.892M ▼ $-15.632M ▼ $-1.861M ▼ $-1.631M ▼ $-19.058M ▼ $-17.493M ▼
Q4-2024 $-6.791M ▲ $4.808M ▲ $-1.362M ▲ $-1.313M ▲ $1.917M ▲ $3.446M ▲
Q3-2024 $-19.17M $-5.722M $-1.41M $-1.416M $-8.636M $-7.132M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $80.00M ▲$70.00M ▼$70.00M ▲$70.00M ▲
Service
Service
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Evolus has grown its sales steadily over the past five years, turning a very small business into a meaningful revenue base. The company’s product margins are healthy, meaning it keeps a good share of each dollar of sales after product costs. However, it still spends heavily on marketing, selling, and overhead, so it remains unprofitable overall. The encouraging sign is that operating and net losses have narrowed over time, showing progress toward break-even, but the business is not yet self-sustaining from earnings alone.

Balance Sheet

Balance Sheet The balance sheet has strengthened compared with a few years ago but remains relatively thin. Cash levels have improved from their lows, giving the company more breathing room, though they are not abundant. Debt sits at a noticeable level for a company of this size, which adds some financial risk if growth were to slow. Shareholders’ equity has only recently moved from deeply negative toward slightly positive territory, reflecting both past losses and more recent financial repair. Overall, the company is on firmer footing than before, but its capital base is still modest and sensitive to setbacks.

Cash Flow

Cash Flow Evolus continues to use cash rather than generate it, mainly because it is investing in growth while still losing money. Operating cash flow has been consistently negative, although the cash burn has eased over time as losses narrowed. Capital spending is minimal, so almost all cash usage comes from running and growing the business, not from big factory or equipment projects. This pattern is typical for a young, expanding healthcare company, but it does mean the business remains dependent on access to outside capital or further improvement in profitability.

Competitive Edge

Competitive Edge Evolus operates in a very competitive aesthetics market dominated by much larger pharmaceutical companies, yet it has carved out a recognizable niche. Its focus on cash-pay aesthetics only, modern branding, and a strong digital presence helps it target younger, image-conscious consumers and the providers who serve them. Loyalty programs for both patients and practitioners support repeat use and build switching costs over time. At the same time, the company is still much smaller than the market leaders and must continually prove its value to maintain and grow its share in a crowded field.

Innovation and R&D

Innovation and R&D The company’s innovation is centered on making existing aesthetic treatments better and more appealing rather than inventing entirely new categories. Its flagship neurotoxin uses a specialized manufacturing process aimed at improving purity and consistency, while its newer filler line relies on a distinct low-temperature technology intended to deliver smoother, more natural results. Evolus is expanding this filler platform with multiple formulations for different facial needs and planning broader geographic rollouts. This pipeline, if executed well, could deepen its product range, improve cross-selling, and support longer-term growth, though regulatory approvals, physician adoption, and real-world outcomes remain key uncertainties.

Summary

Evolus is evolving from an early-stage, high-burn aesthetics company into a more mature business with rising revenue, improving margins, and a clearer path toward profitability, though it is not there yet. The balance sheet and cash flow profile have improved but still reflect a company that depends on continued growth and careful capital management. Its main strengths lie in focused positioning in the cash-pay aesthetics market, differentiated technologies in toxins and fillers, and strong customer loyalty and branding with a younger demographic. Key risks include intense competition from entrenched giants, ongoing cash usage, and execution risk around product launches and international expansion. Overall, the story is one of promising growth and innovation, balanced by the realities of scale, competition, and the need to fully prove long-term financial sustainability.

NEWS

November 14, 2025 · 4:05 PM UTC

Evolus Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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November 5, 2025 · 4:05 PM UTC

Evolus Reports Third Quarter 2025 Financial Results

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October 28, 2025 · 8:00 AM UTC

Evolus to Participate in 2025 Stifel Healthcare Conference

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October 22, 2025 · 8:00 AM UTC

Evolus to Report Third Quarter Financial Results on November 5, 2025

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October 10, 2025 · 4:05 PM UTC

Evolus Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Read more