Evolus Inc. (NASDAQ: EOLS) reported that it earned its first non‑GAAP operating profit in the fourth quarter of 2025, with preliminary unaudited revenue for the quarter ranging from $88.6 million to $90.6 million and full‑year revenue between $295.5 million and $297.5 million. The company’s guidance for 2026 projects net revenue of $327 million to $337 million, representing an 11% to 13% increase over the preliminary 2025 results and confirming its confidence in sustaining profitability as it expands its product portfolio and international footprint.
The quarter’s revenue fell slightly below the consensus estimate of $90.91 million, but the company still delivered double‑digit growth. Strong demand for its flagship neuromodulator Jeuveau and the newly launched Evolysse dermal filler—whose sales contributed roughly 8% of total revenue—offset a modest slowdown in Jeuveau volume. The company’s disciplined spending and strategic investments in marketing and distribution helped keep cost growth in check, allowing the firm to achieve a positive operating income of $5 million to $7 million for the quarter.
Evolus’ profitability milestone follows a Q3 2025 loss that was narrowed to a smaller non‑GAAP operating loss, marking a clear turnaround. The company’s cash and cash equivalents rose to $53 million at year‑end, up from $43.5 million at the end of September, giving it a stronger liquidity buffer to fund ongoing expansion and product development.
The company highlighted its international growth, noting that the launch of Estyme in select European markets and the expansion of Jeuveau sales outside the United States contributed to the revenue mix. Management emphasized that the Evolysse line, introduced in Q2 2025, has become a significant growth engine, and it plans to launch additional Evolysse products—Sculpt in 2026 and Lips in 2027—to further diversify its offerings.
President and CEO David Moatazedi said the preliminary results “highlight our sixth consecutive year of double‑digit growth and demonstrate our ability to continue gaining market share in a challenging environment.” He added that the company’s “pivotal year” was driven by product diversification, accelerated international expansion, and strong commercial execution, all of which underpin the firm’s confidence in its 2026 outlook and its long‑term target of $450 million to $500 million in net revenue by 2028.
The company’s guidance signals a steady path to profitability, with management maintaining its 2026 revenue target and reaffirming its commitment to disciplined spending and strategic investments in high‑margin product lines. The positive operating income, combined with a growing cash position and a clear expansion strategy, positions Evolus to capitalize on market opportunities while managing potential headwinds such as pricing pressure in the dermal filler segment.
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