Evolus, Inc.

Listed Company

EOLSCIK 0001570562NasdaqAcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$297.18M

Net Income

$-51.64M

Total Assets

$225.87M

Equity

$-23.11M

Shares Out

65.06M

Op. Cash Flow

$-42.27M

Business

Evolus, Inc. is a global performance beauty company focused on the cash-pay medical aesthetic market and serving licensed aesthetic practitioners. It offers injectable neurotoxins and a portfolio of injectable hyaluronic acid gels, including the commercial neurotoxin Jeuveau® and the Evolysse™ collection of fillers. Its key business segments center on aesthetic neurotoxins and dermal fillers, pursued through license and supply agreements and a digital customer platform. Products are distributed to aesthetic practitioners in the United States, Canada, Europe and select other international markets.

Summary from filing dated 2025-03-04

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	297	266	202	149	100
Cost of goods sold	100	84	65	59	44
Gross profit	197	182	138	90	—
Selling, general and administrative	221	198	165	142	112
Research and development	10	9	7	5	2
In-process research and development	0	0	9	2	—
Revaluation of contingent royalty obligation payable to Evolus Founders	−6	7	4	6	6
Depreciation and amortization	4	2	2	—	—
Restructuring costs	1	0	0	—	0
Total operating expenses	230	217	187	155	144
Loss from operations	−33	−34	−49	−65	−44
Interest income	2	3	860,000	119,000	1,000
Interest expense	−20	−19	−14	−9	—
Other income (expense), net	−539,000	127,000	696,000	−9,000	0
Loss before income taxes	−51	−50	−62	−74	−47
Income tax expense	−677,000	−664,000	−176,000	95,000	42,000
Net loss	−52	−50	−62	−74	−47
Currency translation adjustment	749,000	−478,000	−90,000	—	—
Comprehensive loss	−51	−51	−62	−75	−47
Net loss per share, basic (in dollars per share)	−0.8	−0.81	−1.08	−1.33	−0.94
Net loss per share, diluted (in dollars per share)	−0.8	−0.81	−1.08	−1.33	−0.94
Weighted-average shares outstanding used to compute basic net loss per share (in shares)	64	62	57	56	50
Weighted-average shares outstanding used to compute diluted net loss per share (in shares)	64	62	57	56	50

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-07-31	FY 2023 2023-12-31	FY 2023 2023-07-31
Cash and cash equivalents	54	87	—	63	—
Accounts receivable, net	55	48	—	31	—
Inventories	27	12	—	11	—
Prepaid expenses	4	3	—	6	—
Other current assets	4	1	—	2	—
Total current assets	143	151	—	112	—
Property and equipment, net	5	3	—	2	—
Operating lease right-of-use assets	7	7	3	6	5
Intangible assets, net	48	49	—	47	—
Goodwill	21	21	—	21	—
Other assets	1	858,000	—	409,000	—
Total assets	226	233	—	189	—
Accounts payable	23	9	—	4	—
Accrued expenses	36	41	—	34	—
Current portion of operating lease liabilities	3	2	—	1	—
Current portion of contingent royalty obligation payable to Evolus Founders	13	11	—	9	—
Current portion of contingent milestone payment	1	0	—	—	—
Total current liabilities	75	63	—	48	—
Long-term portion of operating lease liabilities	6	7	—	5	—
Long-term portion of contingent royalty obligation payable to Evolus Founders	20	34	—	—	—
Long-term portion of term loan, net of discount and issuance costs	146	122	—	120	—
Long-term portion of contingent milestone payment	2	2	—	0	—
Deferred tax liability	28,000	6,000	—	27,000	—
Total liabilities	249	227	—	210	—
Commitments and contingencies (Note 9)	—	—	—	—	—
Preferred Stock, $0.00001 par value; 10,000,000 shares authorized; no shares issued and outstanding as of December 31, 2025 and 2024, respectively	0	0	—	0	—
Common Stock, $0.00001 par value; 100,000,000 shares authorized; 65,008,183 and 63,497,548 shares issued and outstanding as of December 31, 2025 and 2024, respectively	1,000	1,000	—	1,000	—
Additional paid-in capital	638	616	—	539	—
Accumulated other comprehensive loss	−156,000	−905,000	—	−427,000	—
Accumulated deficit	−661	−609	—	−559	—
Total stockholders equity (deficit)	−23	6	—	−21	—
Total liabilities and stockholders equity (deficit)	226	233	—	189	—
Common stock, shares, issued (in shares)	65	63	—	58	—
Common stock, shares, outstanding (in shares)	65	63	—	58	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	8	5	5	4	—
Stock-based compensation	21	22	16	11	10
Provision for credit losses and inventory	7	2	1	—	—
Amortization of operating lease right-of-use assets	1	723,000	734,000	775,000	692,000
Amortization of debt discount and issuance costs	1	1	1	1	941,000
Deferred income taxes	21,000	−21,000	5,000	−18,000	15,000
Revaluation of contingent royalty obligation payable to Evolus Founders	−6	7	4	6	6
Non-cash in-process research and development expense	0	0	4	0	—
Other adjustments to operating activities	967,000	36,000	0	—	—
Inventories	−11	3	4	−11	−3
Accounts receivable	−12	−20	−10	−9	−6
Prepaid expenses	−355,000	2	−2	1	−254,000
Accounts payable	10	391,000	−1	968,000	−787,000
Accrued expenses	−6	7	9	−5	21
Accrued litigation settlement	0	0	−5	−15	—
Operating lease liabilities	−758,000	−716,000	−907,000	—	—
Other operating assets	−2	706,000	−864,000	—	0
Net cash used in operating activities	−42	−18	−34	−85	−33
Purchases of property and equipment	−3	−1	−473,000	−2	−393,000
Additions to capitalized software	−5	−3	−1	−1	−577,000
Net cash used in investing activities	−8	−5	−2	−3	4
Payment of contingent royalty obligation to Evolus Founders	−6	−7	−6	−4	−3
Proceeds from issuance and modification of debt instruments	25	0	50	—	—
Payments for debt modification fees and debt issuance costs	−3	0	−46,000	—	—
Proceeds from follow-on offering	0	51	0	0	—
Payments for offering costs	0	−248,000	0	0	−214,000
Issuance of common stock in connection with incentive equity plan	1	5	231,000	539,000	655,000
Payment of finance lease obligations	−15,000	0	0	—	—
Tax withholding paid on behalf of employees for net share settlement	0	−990,000	−7,000	0	—
Net cash provided by financing activities	17	47	45	−4	73
Effect of exchange rates on cash and cash equivalents	254,000	−478,000	−90,000	−337,000	0
Net increase (decrease) in cash and cash equivalents	−33	24	9	−92	44
Cash paid for interest	15	18	13	8	138,000
Cash paid for income taxes	1	235,000	117,000	76,000	14,000
Capital expenditures included in accounts payable and accrued expenses	695,000	252,000	43,000	0	10,000
Issuance of common stock in connection with Symatese Europe Agreement	0	0	1	0	—

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