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Sep 30
Evolus Q3 2025 Earnings Report
Evolus reported its financial results for the third quarter ended September 30, 2025, highlighting double-digit revenue growth, strong performance of Jeuveau® and Evolysse™, and progress towards profitability.
Key Takeaways
Evolus delivered strong third-quarter results with total net revenue of $69.0 million, a 13% increase year-over-year, driven by robust global Jeuveau® sales and a successful debut of Evolysse™. The company demonstrated sequential growth that outperformed typical seasonal trends and made significant strides in expense management, positioning itself for positive non-GAAP operating income in Q4 2025 and sustainable annual profitability starting in 2026.
Total net revenue for Q3 2025 reached $69.0 million, marking a 13% increase compared to Q3 2024.
Global Jeuveau® net revenue was $63.2 million, showing sequential growth that exceeded typical seasonal patterns.
Evolysse™ generated $5.7 million in revenue, establishing it as the most successful HA filler launch in over a decade.
The company expects to achieve positive non-GAAP operating income of $5 million to $7 million in Q4 2025 and sustainable annual profitability in 2026.
Evolus
Evolus
Evolus Revenue by Segment
Revenue by Segment
Product Revenue, Net Revenue
CapyFin.comGlobal Jeuveau® Revenue
CapyFin.comEvolysse™ Revenue
CapyFin.com Forward Guidance
Evolus reaffirms its full-year 2025 net revenue guidance and non-GAAP operating expenses, while now expecting to achieve positive non-GAAP operating income in Q4 2025 and sustainable annual profitability starting in 2026. The company also plans for future product launches and long-term revenue growth.
Positive Outlook
- Reaffirms total net revenues for full-year 2025 to be between $295 million and $305 million, representing 11% to 15% growth over 2024.
- Evolysse™ injectable HA gels are expected to contribute 10% to 12% of total revenue for full-year 2025.
- Full-year non-GAAP operating expenses for 2025 are reaffirmed to be between $208 million and $213 million.
- Expects to achieve positive non-GAAP operating income of $5 million to $7 million in Q4 2025 and sustainable annual profitability beginning in 2026.
- Plans for the U.S. launch of Evolysse™ Sculpt in 2026 and Evolysse™ Lips in 2027, and aims for $700 million in total net revenue by 2028.
Challenges Ahead
- The impact of recent announcements regarding potential tariffs for pharmaceuticals on Jeuveau® is still being evaluated.
- Proactive inventory purchases ahead of potential tariffs on pharmaceuticals impacted cash in the near-term.
- Evolysse™ is subject to a 15% tariff under the U.S. trade agreement with the European Union, though expected to have minimal impact.
- The company will provide an update on the long-term financial outlook in early 2026, indicating some uncertainty beyond the immediate future.
- No specific negative forward guidance points were explicitly stated beyond the tariff considerations and the need for further assessment of the market landscape.
Revenue & Expenses
Visualization of income flow from segment revenue to net income