Evolus (EOLS) 25th Annual Needham Virtual Healthcare Conference summary

Company overview and recent performance

• Achieved mid-teens market share for flagship product Jeuveau, with a 40% CAGR since launch and double-digit growth in 2025, exiting the year with 14% market share and meaningful profitability.

• Expanded internationally, now operating in nine markets outside the U.S., with direct presence in major European countries and launches of new HA products planned.

• Transitioning to full-year profitability in 2026, with guidance for double-digit top-line growth and low to mid-single-digit operating profit.

• Portfolio expanded with Evolysse, a new HA filler, and a bundling program with Jeuveau to deepen clinic partnerships.

• International revenue nearly doubled in 2025, expected to reach mid-teens percent of global revenue by 2028.

Market trends and outlook

• Aesthetic market saw a slowdown in early 2025 due to consumer confidence dip, but sentiment and procedural volumes improved in the second half.

• Neurotoxin market expected to remain flat to slight single-digit growth in 2026; filler market declined double digits in 2025 but may stabilize to flat or low single-digit decline in 2026.

• Recovery in HA filler market driven by increased education on safety, demand for natural looks, and reduced volume per patient.

• Middle-class consumers most affected by economic pressures, stretching intervals between treatments, while affluent consumers maintained usage.

• No significant pricing changes due to tariffs; clinics used promotions to attract consumers amid competitive pressures.

Product innovation and differentiation

• Evolysse features a unique cross-linking process at near-freezing temperatures, preserving HA structure for better performance and longevity.

• Clinical trials showed 20% less material used with Evolysse Smooth, achieving statistical superiority and longer duration compared to controls.

• Only HA filler with weight loss mention in patient labeling, leveraged in co-branded media and digital advertising.

• Training programs for clinicians include initial product trials and follow-up sessions to maximize product adoption and usage.