Evolus Hits Key Profit Milestone, Sets Sights on Global Expansion

NEWPORT BEACH, CA – January 09, 2026 – Evolus, Inc. (NASDAQ: EOLS) announced preliminary financial results that signal a pivotal moment for the performance beauty company, reporting its first-ever profitable quarter on a non-GAAP basis and marking its sixth consecutive year of double-digit revenue growth. The company’s performance in a market showing signs of softness underscores a strategy that is gaining traction, driven by product diversification and an ambitious global push.

In a press release outlining its unaudited fourth quarter and full-year 2025 results, Evolus projected continued momentum while simultaneously recalibrating its long-term financial targets to reflect a more conservative market view. The announcement paints a picture of a company navigating a complex aesthetic injectables landscape with increasing confidence.

“Last year was pivotal for Evolus as we further diversified our business through the introduction of our second product line, accelerated our international expansion, and delivered strong commercial execution across our portfolio,” stated David Moatazedi, President and Chief Executive Officer. “These efforts reinforced the strength of our performance beauty strategy and enabled us to achieve profitability in the fourth quarter of 2025.”

Navigating a Competitive Landscape

Evolus reported preliminary net revenues for the fourth quarter of 2025 expected to land between $88.6 million and $90.6 million, a significant 12% to 15% increase over the same period in 2024. For the full year, revenues are anticipated to be between $295.5 million and $297.5 million, up 11% to 12% from the prior year. This growth is particularly noteworthy when contrasted with trends among industry titans. AbbVie, the parent company of Botox and Juvéderm, has reported year-over-year revenue declines in its aesthetics portfolio through the first three quarters of 2025.

While the overall aesthetic injectables market is projected to grow at a compound annual rate of over 10%, some analysts have noted near-term headwinds, including consumer spending concerns and intensified promotional activity. Evolus’s ability to capture market share in this environment is a central theme of its recent success. The company’s flagship neurotoxin, Jeuveau®, has steadily carved out a significant position, now holding over 14% of the U.S. market and a presence in more than 15,000 aesthetic clinics.

The most significant financial milestone is the company’s achievement of positive non-GAAP operating income, reaffirmed to be between $5 million and $7 million for the fourth quarter. This metric, which excludes items like stock-based compensation and amortization, is a key indicator for management and investors of the company’s operational efficiency and its path toward sustainable, company-wide profitability.

Beyond the 'Newtox': The Bet on Fillers Takes Hold

A crucial element of the Evolus growth story is its strategic diversification beyond Jeuveau®. The 2025 commercial launch of its Evolysse™ line of hyaluronic acid (HA) dermal fillers represents a major step toward becoming a comprehensive portfolio player in the aesthetics space. This new product line contributed approximately 8% of total revenue in its first year on the market, a promising start that validates the company's expansion strategy.

The company is projecting that its HA filler franchise—which includes Evolysse™ in the U.S. and Estyme® in Europe—will contribute 10% to 12% of total revenue in 2026. This growth is fueled by the U.S. rollout of Evolysse™ Form and Evolysse™ Smooth, alongside the anticipated European launch of Estyme®.

Evolus is leveraging its established network of Jeuveau® customers to accelerate the adoption of its filler products. This built-in distribution channel provides a significant competitive advantage, reducing the barriers to entry in a crowded market. The Evolysse™ line, which utilizes a proprietary technology designed to provide long-lasting and natural-looking results, is being positioned to compete directly with established filler brands. The product pipeline remains robust, with Evolysse™ Sculpt, a filler for mid-face volume, submitted for FDA approval and a lips indication targeted for 2027, signaling a long-term commitment to the category.

A Pragmatic Path to Profitability and Scale

Looking ahead, Evolus has provided a financial outlook that balances ambition with pragmatism. For 2026, the company projects total net revenues between $327 million and $337 million, representing 11% to 13% growth. It also expects to achieve sustainable annual non-GAAP profitability starting in 2026, a goal supported by a disciplined approach to spending and increasing operational scale.

Perhaps most telling is the recalibration of its long-term financial targets. The company now aims for total net revenue of $450 million to $500 million by 2028, a downward revision from a previous, more aggressive target of $700 million. This adjustment reflects what the company calls a “more conservative near-term growth environment” in the U.S. market. Despite the tempered market outlook, the new target still represents a formidable three-year compound annual growth rate of 15% to 19%.

“Our 2026 outlook reflects a measured return to market growth as we continue to increase penetration in the U.S. and expand our portfolio internationally,” Moatazedi explained. “Our growth outlook and disciplined spend will drive improved profitability as we scale.”

The international component is key to achieving these goals. The planned commercial launch of the Estyme® filler line in Europe in the first half of 2026 is a major catalyst. Combined with the continued rollout of Nuceiva® (the international brand for Jeuveau®), the global expansion is expected to be a durable growth driver for years to come. With an improved cash position of $53 million at the end of 2025, Evolus appears well-capitalized to fund these growth initiatives while maintaining its focus on turning quarterly non-GAAP success into sustained, long-term value for its shareholders.