Evolus (EOLS) Q1 2026 earnings summary

Executive summary

• Achieved global net revenue of $73.1M in Q1 2026, up 7% year-over-year, with strong Jeuveau and Evolysse performance and robust international growth.

• Delivered second consecutive quarter of positive Adjusted EBITDA at $0.6M, a significant improvement from a $5.5M loss in Q1 2025.

• Maintained 14% U.S. market share for Jeuveau, with high patient satisfaction and low adverse event rates.

• Continued investment in portfolio expansion, digital ecosystem, and AI-driven efficiency, with launches of Estyme in Europe and Evolysse in the U.S.

• Strategy remains focused on building a scaled, multi-product aesthetics company with a durable business model.

Financial highlights

• Q1 2026 global net revenue was $73.1M, with $66.4M from Jeuveau and $6.7M from Evolysse; product revenue increased from $68.1M year-over-year.

• Gross profit margin was 66.9%; adjusted gross margin was 68%, excluding amortization of intangibles.

• Positive Adjusted EBITDA of $0.6M in Q1, compared to a $5.5M loss in the prior year period.

• Operating expenses decreased 9.8% to $55.7M, mainly from lower SG&A costs; non-GAAP operating expenses were $49.1M.

• Cash and cash equivalents stood at $49.8M as of March 31, 2026, with access to $120M in additional capital.

Outlook and guidance

• Reaffirmed full-year 2026 guidance: net revenue of $327M–$337M, adjusted gross margin of 65.5%–67%, and non-GAAP operating expenses of $210M–$216M.

• Expecting double-digit revenue growth and full-year Adjusted EBITDA profitability in 2026.

• Long-term outlook through 2028 targets $450M–$500M net revenue and 13%–15% Adjusted EBITDA margin.

• Regulatory approvals for Evolysse Sculpt and Lips in the U.S. anticipated in 2026 and 2027; all four Evolysse products launching in Europe in Q2 2026.

• Evolysse and Estyme injectable HA gels expected to contribute 10%–12% of total 2026 revenue.