Evolus (EOLS) Q2 2026 earnings summary

Executive summary

• Achieved global net revenue of $84.1M in Q2 2026, up 21% year-over-year, marking the third consecutive quarter of positive adjusted EBITDA at $4.7M, driven by Jeuveau®, Evolysse®, and international expansion.

• Expanded injectable portfolio with the launch of Estyme® in Europe, new licensing agreements including Profhilo® for the U.S., and exclusive commercialization rights for Evolysse® in Canada, Australia, and New Zealand.

• Portfolio now includes three injectable verticals: neurotoxin (Jeuveau®/Nuceiva®), HA fillers (Evolysse®/Estyme®), and skin quality (Profhilo®), supporting multi-year growth.

• Customer engagement remained strong, with over 1.5M loyalty program members and reorder rates above 70%.

• Raised full-year 2026 financial outlook based on robust first-half results and continued momentum.

Financial highlights

• Q2 2026 global net revenue was $84.1M, up 21% year-over-year; $75.2M from global toxin revenue and $8.9M from HA gels.

• Gross profit margin improved to 68.0% (up from 65.3% YoY); adjusted gross profit margin was 69.0%, aided by a 120 bps tariff refund.

• Adjusted EBITDA for Q2 was $4.7M, a $12.6M improvement year-over-year.

• Cash and cash equivalents at June 30, 2026: $45.2M; access to $100M–$120M additional liquidity under debt facilities.

• Operating cash outflow for six months: $13.5M, improved from $40.4M in prior year.

Outlook and guidance

• Raised 2026 net revenue guidance to $333.5M midpoint (range: $330M–$337M), with adjusted gross profit margin guidance increased to 67.0%–67.5%.

• Non-GAAP operating expense guidance narrowed to $212M–$216M.

• Reaffirmed low- to mid-single digit adjusted EBITDA margin for 2026; 2028 outlook: $450M–$500M net revenue and 13%–15% adjusted EBITDA margin.

• Evolysse® and Estyme® expected to contribute 10%–12% of 2026 revenue.

• Current capital resources expected to fund operations for at least the next twelve months.