Evolus (EOLS)
Market Price (8/19/2026): $8.16 | Market Cap: $538.0 MilSector: Health Care | Industry: Pharmaceuticals
Evolus (EOLS)
Market Price (8/19/2026): $8.16Market Cap: $538.0 MilSector: Health CareIndustry: Pharmaceuticals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Medical Aesthetics & Anti-Aging. Themes include Neurotoxin Treatments, Minimally Invasive Aesthetic Procedures, and Biopharmaceutical R&D. | Trading close to highsDist 52W High is -1.9% Weak multi-year price returns2Y Excs Rtn is -81%, 3Y Excs Rtn is -89% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -21 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -6.5% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -4.9%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.9% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 92% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11% Key risksEOLS key risks include [1] its precarious financial health and struggle to achieve profitability and [2] a critical dependence on a single-source supply chain for its key products. |
| Megatrend and thematic driversMegatrends include Medical Aesthetics & Anti-Aging. Themes include Neurotoxin Treatments, Minimally Invasive Aesthetic Procedures, and Biopharmaceutical R&D. |
| Trading close to highsDist 52W High is -1.9% |
| Weak multi-year price returns2Y Excs Rtn is -81%, 3Y Excs Rtn is -89% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -21 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -6.5% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -4.9%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.9% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 92% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11% |
| Key risksEOLS key risks include [1] its precarious financial health and struggle to achieve profitability and [2] a critical dependence on a single-source supply chain for its key products. |
Qualitative Assessment
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Evolus (EOLS) stock has gained about 50% since 4/30/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Financial Performance and Upbeat Guidance.
Evolus reported robust financial results for fiscal Q2 2026 (ended June 30, 2026), with total net revenue of $84.1 million, marking a 21% year-over-year increase and exceeding analyst estimates. The company achieved its third consecutive quarter of positive Adjusted EBITDA, reaching $4.7 million, a substantial improvement from a $7.9 million loss in the prior-year quarter. Following these strong results, management raised its full-year 2026 revenue guidance to a range of $330 million to $337 million and increased its adjusted gross profit margin outlook to 67.0%-67.5%.
2. Strategic Portfolio Expansion and International Growth.
Evolus significantly expanded its injectable aesthetics portfolio through strategic partnerships during this period. This included an exclusive U.S. licensing agreement with IBSA to develop and commercialize Profhilo, a new skin quality treatment, with U.S. commercialization anticipated in 2030 and an estimated peak annual revenue exceeding $100 million. The company also expanded its partnership with Symatese in early August 2026 to commercialize its Estyme hyaluronic acid (HA) gels across Canada, Australia, and New Zealand, aligning with its existing Jeuveau and Nuceiva markets, and launched the Estyme collection in Europe.
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Evolus (EOLS) stock has gained about 50% since 4/30/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Financial Performance and Upbeat Guidance.
Evolus reported robust financial results for fiscal Q2 2026 (ended June 30, 2026), with total net revenue of $84.1 million, marking a 21% year-over-year increase and exceeding analyst estimates. The company achieved its third consecutive quarter of positive Adjusted EBITDA, reaching $4.7 million, a substantial improvement from a $7.9 million loss in the prior-year quarter. Following these strong results, management raised its full-year 2026 revenue guidance to a range of $330 million to $337 million and increased its adjusted gross profit margin outlook to 67.0%-67.5%.
2. Strategic Portfolio Expansion and International Growth.
Evolus significantly expanded its injectable aesthetics portfolio through strategic partnerships during this period. This included an exclusive U.S. licensing agreement with IBSA to develop and commercialize Profhilo, a new skin quality treatment, with U.S. commercialization anticipated in 2030 and an estimated peak annual revenue exceeding $100 million. The company also expanded its partnership with Symatese in early August 2026 to commercialize its Estyme hyaluronic acid (HA) gels across Canada, Australia, and New Zealand, aligning with its existing Jeuveau and Nuceiva markets, and launched the Estyme collection in Europe.
3. Positive Analyst Sentiment and Elevated Price Targets.
Wall Street analysts responded favorably to Evolus's performance and strategic developments, leading to a consensus "Strong Buy" or "Moderate Buy" rating for the stock. The average analyst price target ranged from $14.50 to $14.67, indicating a substantial potential upside of approximately 74% to 98% from the stock's trading levels. Several firms reiterated their "Buy" ratings and issued specific price targets, such as BTIG Research at $13.00 and Stifel Nicolaus at $17.00, reinforcing investor confidence.
4. Robust Customer Engagement and Increasing Institutional Investor Confidence.
Evolus demonstrated strong customer engagement, with its Evolus Rewards membership surpassing 1.5 million, and repeat treatment rates by existing patients reaching approximately 71%. The company also saw an increase of approximately 600 total purchasing accounts during fiscal Q2 2026. Concurrently, institutional investors showed growing confidence in Evolus, with several large funds increasing their positions, contributing to institutional ownership of roughly 90.69% of the company's stock.
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Stock Movement Drivers
Fundamental Drivers
The 51.8% change in EOLS stock from 4/30/2026 to 8/18/2026 was primarily driven by a 44.8% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 8182026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.39 | 8.18 | 51.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 297 | 316 | 6.5% |
| P/S Multiple | 1.2 | 1.7 | 44.8% |
| Shares Outstanding (Mil) | 65 | 66 | -1.6% |
| Cumulative Contribution | 51.8% |
Market Drivers
4/30/2026 to 8/18/2026| Return | Correlation | |
|---|---|---|
| EOLS | 51.8% | |
| Market (SPY) | 6.8% | 2.2% |
| Sector (XLV) | 16.3% | 20.5% |
Fundamental Drivers
The 74.4% change in EOLS stock from 1/31/2026 to 8/18/2026 was primarily driven by a 60.4% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 8182026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.69 | 8.18 | 74.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 286 | 316 | 10.7% |
| P/S Multiple | 1.1 | 1.7 | 60.4% |
| Shares Outstanding (Mil) | 65 | 66 | -1.8% |
| Cumulative Contribution | 74.4% |
Market Drivers
1/31/2026 to 8/18/2026| Return | Correlation | |
|---|---|---|
| EOLS | 74.4% | |
| Market (SPY) | 11.2% | 21.3% |
| Sector (XLV) | 10.1% | 20.1% |
Fundamental Drivers
The -8.3% change in EOLS stock from 7/31/2025 to 8/18/2026 was primarily driven by a -17.4% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 8182026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.92 | 8.18 | -8.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 275 | 316 | 14.9% |
| P/S Multiple | 2.1 | 1.7 | -17.4% |
| Shares Outstanding (Mil) | 64 | 66 | -3.4% |
| Cumulative Contribution | -8.3% |
Market Drivers
7/31/2025 to 8/18/2026| Return | Correlation | |
|---|---|---|
| EOLS | -8.3% | |
| Market (SPY) | 22.4% | 16.0% |
| Sector (XLV) | 31.8% | 24.6% |
Fundamental Drivers
The -18.4% change in EOLS stock from 7/31/2023 to 8/18/2026 was primarily driven by a -52.9% change in the company's P/S Multiple.| (LTM values as of) | 7312023 | 8182026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.02 | 8.18 | -18.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 156 | 316 | 102.3% |
| P/S Multiple | 3.6 | 1.7 | -52.9% |
| Shares Outstanding (Mil) | 56 | 66 | -14.3% |
| Cumulative Contribution | -18.4% |
Market Drivers
7/31/2023 to 8/18/2026| Return | Correlation | |
|---|---|---|
| EOLS | -18.4% | |
| Market (SPY) | 73.6% | 27.5% |
| Sector (XLV) | 32.5% | 29.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| EOLS Return | 94% | 15% | 40% | 5% | -40% | 17% | 131% |
| Peers Return | 51% | -39% | -13% | -10% | 2% | -17% | -38% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| EOLS Win Rate | 58% | 58% | 50% | 58% | 42% | 50% | |
| Peers Win Rate | 67% | 42% | 47% | 47% | 50% | 33% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| EOLS Max Drawdown | -67% | -53% | -35% | -38% | -62% | -41% | |
| Peers Max Drawdown | -23% | -57% | -50% | -48% | -41% | -41% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ABBV, BHC, SKIN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/18/2026 (YTD)
How Low Can It Go
| Event | EOLS | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.7% | -6.7% |
| % Gain to Breakeven | 26.2% | 7.1% |
| Time to Breakeven | 20 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -25.6% | -24.5% |
| % Gain to Breakeven | 34.5% | 32.4% |
| Time to Breakeven | 10 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -65.7% | -33.7% |
| % Gain to Breakeven | 191.5% | 50.9% |
| Time to Breakeven | 340 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -44.2% | -19.2% |
| % Gain to Breakeven | 79.1% | 23.8% |
| Time to Breakeven | 45 days | 105 days |
In The Past
Evolus's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
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Asset Allocation
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| Event | EOLS | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.7% | -6.7% |
| % Gain to Breakeven | 26.2% | 7.1% |
| Time to Breakeven | 20 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -25.6% | -24.5% |
| % Gain to Breakeven | 34.5% | 32.4% |
| Time to Breakeven | 10 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -65.7% | -33.7% |
| % Gain to Breakeven | 191.5% | 50.9% |
| Time to Breakeven | 340 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -44.2% | -19.2% |
| % Gain to Breakeven | 79.1% | 23.8% |
| Time to Breakeven | 45 days | 105 days |
In The Past
Evolus's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Evolus (EOLS)
Evolus, Inc. (EOLS) is a performance beauty company specializing in the medical aesthetics sector. The company focuses on developing and delivering innovative products that physicians use to provide aesthetic treatments to their patients.
The flagship product offered by Evolus is Jeuveau, a proprietary formulation of 900 kilodalton purified botulinum toxin type A. This product is specifically designed and approved for the temporary improvement in the appearance of moderate to severe glabellar lines, which are the frown lines between the eyebrows, in adult patients.
Evolus primarily serves the United States market, with its main customers being physicians and other medical professionals who then administer Jeuveau to their adult patients seeking cosmetic enhancements for facial lines.
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- The Pepsi to Botox's Coke in the wrinkle-relaxer market.
- A focused challenger to AbbVie (the maker of Botox) in the aesthetic injectables space.
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- Jeuveau: A proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.
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Evolus (EOLS) sells primarily to other businesses rather than directly to individuals. Its major customers are medical professionals and aesthetic practices that administer Jeuveau to their patients.
The primary categories of customers include:
- Dermatologists and Dermatology Practices: Physicians specializing in skin health and cosmetic procedures.
- Plastic Surgeons and Plastic Surgery Centers: Medical professionals focused on reconstructive and cosmetic surgery.
- Aesthetic Clinics and Medical Spas (Medspas): Facilities that offer a range of non-surgical cosmetic treatments, often overseen by medical directors.
These customers are typically private medical practices or clinics, and therefore do not have public company symbols.
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Daewoong Pharmaceutical Co., Ltd. (069620)
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David Moatazedi, President and Chief Executive Officer
Mr. Moatazedi has served as President and Chief Executive Officer of Evolus since May 2018. Prior to joining Evolus, he was Senior Vice President at Allergan, Inc., where he led the U.S. Medical Aesthetics division, overseeing a range of products from facial aesthetics to skin care. His tenure at Allergan also included roles such as Vice President of Sales and Marketing for both the U.S. Facial Aesthetics and Plastic Surgery divisions. Mr. Moatazedi's experience at Allergan included successful acquisitions such as LifeCell for $2.9 billion and ZELTIQ® Aesthetics for $2.5 billion. He also served as a board member at Obalon Therapeutics, Inc., a public medical device company. Earlier in his career, he spent six years at Novartis Pharmaceuticals.
Tatjana Mitchell, Chief Financial Officer
Ms. Mitchell was appointed Chief Financial Officer of Evolus, effective September 8, 2025. She brings over 20 years of strategic and operational finance leadership experience from both public and private companies in retail, consumer, data, and technology-driven sectors. Most recently, Ms. Mitchell served as Senior Vice President of Corporate Finance at Experian, where she managed financial planning and capital allocation across six business units. During her time at Experian, she also held CFO roles for Experian Consumer Services and Experian Marketing Services, where she drove double-digit organic revenue growth and executed and integrated several acquisitions.
Michael Mazen Jafar, Chief Commercial Officer
Mr. Jafar was named Chief Commercial Officer effective November 1, 2020, and previously served as the company's Chief Marketing Officer since joining Evolus in June 2018. Before Evolus, Mr. Jafar was Vice President, Medical Aesthetics at Allergan, where he led the commercial launch of Juvederm Voluma® and managed product development and marketing initiatives for several key franchises, including Botox® Cosmetic and Kybella®. He also oversaw the market assessment and integration of the CoolSculpting® franchise acquired from Zeltiq.
Rui Avelar, Chief Medical Officer and Head of Research & Development
Dr. Avelar serves as the Chief Medical Officer and Head of Research & Development at Evolus. He participates in the company's earnings calls, providing insights into medical and R&D aspects.
Jeff Plumer, General Counsel
Mr. Plumer has served as General Counsel of Evolus since November 1, 2020. He previously held the role of Vice President of Legal since the company's initial public offering (IPO) in 2018. Prior to the IPO, he served as Vice President of Legal to Evolus' sole stockholder from 2014 to early 2018. Earlier in his career, Mr. Plumer practiced as a corporate securities and mergers & acquisitions attorney at K&L Gates LLP.
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The key risks to Evolus's business include intense market competition, ongoing intellectual property and licensing dependencies, and challenges related to its financial health combined with an over-reliance on its primary product.
- Intense Market Competition and Aggressive Pricing Strategies: Evolus operates in a highly competitive medical aesthetics market, particularly for neurotoxins, which is dominated by established players like AbbVie's Botox. The entry of new competitors and their aggressive pricing strategies are expected to intensify pricing pressures, potentially leading to eroded profit margins and challenges in gaining or maintaining market share for Jeuveau.
- Intellectual Property Disputes and Reliance on Licensing Agreements: Evolus has a history of significant intellectual property disputes, including a U.S. International Trade Commission (ITC) ruling that previously imposed a 21-month ban on Jeuveau imports due to alleged trade secret misappropriation, though a settlement was later reached. Furthermore, the company's operations depend heavily on licensing agreements with partners like Daewoong and Symatese for product manufacturing and commercialization, which come with volume requirements and finite durations. Disruptions to these critical agreements or future IP challenges could severely impact Evolus's ability to operate and supply its products.
- Financial Health Challenges and Over-reliance on Jeuveau: Evolus has faced concerns regarding its financial health, including significant debt levels and reported negative profitability margins despite revenue growth. The company's business model is largely dependent on the success of a single product, Jeuveau. This concentrated reliance makes Evolus highly vulnerable to market shifts, increased competition, or any factors that could hinder Jeuveau's market adoption or profitability, thereby exacerbating existing financial challenges.
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The launch and increasing market adoption of Revance Therapeutics' Daxxify (daxibotulinumtoxinA-lanm) represent a clear emerging threat to Evolus. Daxxify, approved in September 2022, is a botulinum toxin product for glabellar lines that offers a significantly longer duration of effect (median 6 months) compared to traditional neurotoxins like Evolus's Jeuveau (typically 3-4 months). This extended duration is a distinct competitive advantage that can attract both patients seeking fewer injection sessions and practitioners looking for improved patient satisfaction and clinic efficiency, thereby potentially eroding Jeuveau's market share.
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Evolus, Inc. (EOLS) operates in the performance beauty sector, primarily offering medical aesthetic products. The company's main products are Jeuveau, a botulinum toxin type A formulation, and the Evolysse line of dermal fillers.
The addressable market sizes for Evolus's main products are as follows:
- For Jeuveau, which is a botulinum toxin type A product for aesthetic use, the U.S. market for botulinum toxin was valued at approximately USD 5.04 billion in 2024 and is projected to reach around USD 11.53 billion by 2033. Globally, the botulinum toxin market was valued at approximately USD 12.24 billion in 2024 and is projected to reach about USD 30.59 billion by 2034.
- For the Evolysse line of dermal fillers, the U.S. filler market was approximately USD 6.2 billion and is projected to grow to USD 10 billion by 2028.
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Here are the expected drivers of future revenue growth for Evolus (EOLS) over the next 2-3 years:
- Continued U.S. Market Share Growth for Jeuveau: Evolus anticipates continued expansion of Jeuveau's market share in the U.S. The company has demonstrated consistent gains, with Jeuveau reaching over 14% of the U.S. market in 2025 and projected to move into the mid-teens. This growth is supported by the brand's performance beauty positioning, clinically differentiated product, and robust consumer loyalty programs like Evolus Rewards™, which shows high repeat engagement.
- Expansion of U.S. Injectable Portfolio with Evolysse and Estyme: The successful launch and increasing traction of Evolysse, a line of hyaluronic acid (HA) gels, is a significant driver. Evolysse is expected to contribute 10% to 12% of total revenue for 2026, with only two products (Form and Smooth) currently contributing to this. The planned FDA approval of Evolysse Sculpt, a mid-face volume product, later in 2026, and the upcoming introduction of Estyme, another HA gel in Europe in the first half of 2026, further diversify the company's portfolio and revenue streams. Evolus's portfolio rebate program also incentivizes clinics to adopt a broader range of its products.
- International Expansion: Evolus is actively growing its international presence, with international revenue nearly doubling in 2025 and accounting for 8% of total revenue, up from 5% in 2024. The company expects international revenue to reach approximately 15% by 2028. Operating in nine countries outside the United States, Evolus plans to continue expanding, including the European launch of Estyme in the first half of 2026.
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Share Issuance
- Evolus made equity awards to its directors and officers in February 2026, including 45,559 Restricted Stock Units (RSUs) to director Vikram Malik and 94,913 performance-based RSUs, 94,913 time-based RSUs, and stock options for 138,649 shares to officer Rui Avelar.
- The company has a registration statement with the SEC covering shares of common stock available for future issuance under its 2017 Omnibus Incentive Plan.
- Evolus management stated in March 2026 that the company is not planning to raise equity capital and remains highly sensitive to dilution.
Capital Expenditures
- Capital spending for the purchase of property, plant, and equipment was $955,000 in the fourth quarter of 2025, representing a 118.0% increase year-over-year.
- The company expects to allocate resources towards furthering the development of marketing programs and commercialization infrastructure for its products.
- Evolus has committed to reimbursing Symatese for specific clinical trial expenses related to the Evolysse™ Lip and Eye products in the United States and certain regulatory filing fees in Europe.
Peer Outperformance in Pharmaceuticals
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| EOLS | Evolus | 23.9% | -15.7x | 22.3% | -14.1% | -22.1% | — |
| CORT | Corcept Therapeutics | 24.9% | 225.5x | 64.6% | 281.8% | 479.8% | +502pp |
| PTCT | PTC Therapeutics | 21.0% | -157.1x | 45.8% | 84.2% | 96.2% | +118pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 7 | 9.7% | 79.7% | 140.2% | CAH 411% · MCK 348% · COR 179% |
| Health Care Services | 20 | 20.0% | 41.9% | 9.5% | HIMS 302% · RDNT 143% · DGX 72% |
| Managed Health Care | 8 | 33.2% | -3.6% | 1.3% | OSCR 142% · HQY 64% · ELV 14% |
| Health Care Facilities | 24 | 11.9% | -3.3% | -15.7% | THC 289% · NHC 263% · ENSG 132% |
| Health Care Equipment | 51 | -2.3% | -9.2% | -18.9% | POCI 10738% · UFPT 396% · GKOS 288% |
| Health Care Supplies | 12 | 38.3% | -12.4% | -27.5% | LNTH 314% · HAE 81% · MMSI 31% |
| Pharmaceuticals ← | 63 | 3.1% | -1.7% | -31.9% | LQDA 2959% · INDV 1388% · ETON 1385% |
| Life Sciences Tools & Services | 108 | -8.4% | -32.7% | -70.6% | SNWV 1953% · ELMD 259% · MEDP 235% |
| Health Care Technology | 20 | -28.4% | -53.8% | -73.9% | SPOK 37% · HSTM -2% · VEEV -24% |
| Biotechnology | 365 | 6.6% | -27.4% | -77.2% | BRTX 106400% · DNTH 1803% · CELZ 1443% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Evolus Earnings Notes | 12/16/2025 | |
| How Low Can Evolus Stock Really Go? | 10/17/2025 | |
| Day 6 of Loss Streak for Evolus Stock with -37% Return (vs. -48% YTD) [8/11/2025] | 08/12/2025 | |
| Day 5 of Loss Streak for Evolus Stock with -36% Return (vs. -47% YTD) [8/8/2025] | 08/09/2025 | |
| Evolus (EOLS) Operating Cash Flow Comparison | 08/08/2025 | |
| Evolus (EOLS) Debt Comparison | 08/08/2025 | |
| Evolus (EOLS) Operating Income Comparison | 08/08/2025 | |
| Evolus (EOLS) Revenue Comparison | 08/08/2025 | |
| Evolus (EOLS) Net Income Comparison | 08/08/2025 | |
| Evolus (EOLS) Tax Expense Comparison | 08/08/2025 | |
| ARTICLES | ||
| EOLS Stock Down -37% after 6-Day Loss Streak | 08/12/2025 | |
| EOLS Stock Down -36% after 5-Day Loss Streak | 08/09/2025 | |
| Market Movers | Winners: GO, VSAT, ALAB | Losers: BLMN, LNTH, EOLS | 08/07/2025 |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 7.55 |
| Mkt Cap | 1.6 |
| Rev LTM | 5,585 |
| Op Inc LTM | 1,378 |
| FCF LTM | 705 |
| FCF 3Y Avg | 575 |
| CFO LTM | 911 |
| CFO 3Y Avg | 772 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.2% |
| Rev Chg 3Y Avg | 7.0% |
| Rev Chg Q | 11.4% |
| QoQ Delta Rev Chg LTM | 2.8% |
| Op Inc Chg LTM | 54.6% |
| Op Inc Chg 3Y Avg | 15.8% |
| Op Mgn LTM | 12.0% |
| Op Mgn 3Y Avg | 4.6% |
| QoQ Delta Op Mgn LTM | 2.2% |
| CFO/Rev LTM | 12.1% |
| CFO/Rev 3Y Avg | 11.1% |
| FCF/Rev LTM | 9.3% |
| FCF/Rev 3Y Avg | 8.1% |
Price Behavior
| Market Price | $8.18 | |
| Market Cap ($ Bil) | 0.5 | |
| First Trading Date | 02/08/2018 | |
| Distance from 52W High | -1.9% | |
| 50 Days | 200 Days | |
| DMA Price | $6.73 | $5.94 |
| DMA Trend | indeterminate | up |
| Distance from DMA | 21.6% | 37.6% |
| 3M | 1YR | |
| Volatility | 64.9% | 66.9% |
| Downside Capture | -118.36 | 55.83 |
| Upside Capture | 12.25 | 66.97 |
| Correlation (SPY) | 1.8% | 20.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.41 | -0.12 | 0.23 | 1.29 | 0.96 | 1.11 |
| Up Beta | 0.63 | -0.47 | 0.15 | 1.19 | 1.62 | 1.09 |
| Down Beta | -0.18 | -0.62 | -0.06 | 1.50 | 0.94 | 1.18 |
| Up Capture | -76% | -22% | 46% | 147% | 24% | 62% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 9 | 20 | 29 | 59 | 118 | 362 |
| Down Capture | 182% | 53% | 17% | 103% | 102% | 106% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 13 | 22 | 33 | 66 | 131 | 381 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with EOLS | |
|---|---|---|---|---|
| EOLS | 21.6% | 66.8% | 0.54 | - |
| Sector ETF (XLV) | 26.3% | 15.5% | 1.31 | 21.4% |
| Equity (SPY) | 20.4% | 12.8% | 1.17 | 19.8% |
| Gold (GLD) | 29.8% | 28.5% | 0.91 | 1.5% |
| Commodities (DBC) | 40.2% | 20.2% | 1.56 | -14.7% |
| Real Estate (VNQ) | 13.1% | 13.9% | 0.65 | 12.7% |
| Bitcoin (BTCUSD) | -45.4% | 42.7% | -1.30 | 19.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with EOLS | |
|---|---|---|---|---|
| EOLS | -6.0% | 62.3% | 0.15 | - |
| Sector ETF (XLV) | 6.6% | 15.0% | 0.25 | 27.0% |
| Equity (SPY) | 13.1% | 17.2% | 0.59 | 29.1% |
| Gold (GLD) | 19.8% | 18.6% | 0.87 | 4.7% |
| Commodities (DBC) | 9.8% | 19.6% | 0.39 | 2.4% |
| Real Estate (VNQ) | 2.4% | 18.9% | 0.02 | 26.2% |
| Bitcoin (BTCUSD) | 7.1% | 52.6% | 0.32 | 16.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with EOLS | |
|---|---|---|---|---|
| EOLS | -3.3% | 80.4% | 0.30 | - |
| Sector ETF (XLV) | 10.4% | 16.7% | 0.51 | 24.9% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 27.7% |
| Gold (GLD) | 12.1% | 16.2% | 0.61 | 3.9% |
| Commodities (DBC) | 7.8% | 18.1% | 0.35 | 6.4% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 25.7% |
| Bitcoin (BTCUSD) | 59.9% | 66.0% | 1.00 | 12.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/4/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/4/2026 | 14.2% | 13.3% | 8.1% |
| 3/3/2026 | 35.4% | 27.8% | 4.4% |
| 1/9/2026 | -1.6% | -12.9% | -26.1% |
| 11/5/2025 | 5.4% | 7.2% | 2.3% |
| 8/5/2025 | -28.5% | -28.2% | -15.7% |
| 5/7/2025 | -14.2% | -15.1% | -14.6% |
| 3/4/2025 | -1.3% | -11.4% | -14.8% |
| 11/6/2024 | -15.0% | -27.1% | -24.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 12 | 11 |
| # Negative | 13 | 14 | 15 |
| Median Positive | 8.2% | 13.0% | 18.7% |
| Median Negative | -7.5% | -11.1% | -14.6% |
| Max Positive | 35.4% | 34.6% | 29.7% |
| Max Negative | -28.5% | -28.2% | -44.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/4/2026 | 14.2% | 13.3% | 8.1% |
| 3/3/2026 | 35.4% | 27.8% | 4.4% |
| 1/9/2026 | -1.6% | -12.9% | -26.1% |
| 11/5/2025 | 5.4% | 7.2% | 2.3% |
| 8/5/2025 | -28.5% | -28.2% | -15.7% |
| 5/7/2025 | -14.2% | -15.1% | -14.6% |
| 3/4/2025 | -1.3% | -11.4% | -14.8% |
| 11/6/2024 | -15.0% | -27.1% | -24.7% |
| 7/31/2024 | 13.0% | 3.9% | 27.5% |
| 5/7/2024 | -1.2% | -4.8% | -7.6% |
| 3/7/2024 | -4.9% | -4.9% | -10.1% |
| 1/16/2024 | 19.7% | 12.7% | 29.6% |
| 11/7/2023 | 8.2% | 4.6% | 18.7% |
| 8/2/2023 | 2.1% | -5.8% | 0.5% |
| 5/9/2023 | 16.0% | 7.1% | -5.4% |
| 3/8/2023 | -3.2% | -3.4% | -5.3% |
| 1/18/2023 | 18.1% | 27.5% | 10.8% |
| 11/8/2022 | -9.1% | -3.1% | -2.3% |
| 8/2/2022 | -17.6% | -26.1% | -21.8% |
| 5/10/2022 | 7.7% | 34.6% | 18.7% |
| 3/3/2022 | 5.7% | 16.4% | 29.7% |
| 11/2/2021 | -4.5% | -10.7% | -34.5% |
| 8/4/2021 | -7.5% | -4.1% | -7.9% |
| 3/24/2021 | -23.1% | -21.3% | -44.5% |
| 10/29/2020 | 3.8% | 14.4% | 27.7% |
| 8/10/2020 | 0.8% | 5.1% | -3.0% |
| SUMMARY STATS | |||
| # Positive | 13 | 12 | 11 |
| # Negative | 13 | 14 | 15 |
| Median Positive | 8.2% | 13.0% | 18.7% |
| Median Negative | -7.5% | -11.1% | -14.6% |
| Max Positive | 35.4% | 34.6% | 29.7% |
| Max Negative | -28.5% | -28.2% | -44.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 03/03/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 03/04/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 03/07/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/08/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 03/03/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 03/04/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 03/07/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/08/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/03/2022 | 10-K |
| 09/30/2021 | 11/02/2021 | 10-Q |
| 06/30/2021 | 08/04/2021 | 10-Q |
| 03/31/2021 | 05/12/2021 | 10-Q |
| 12/31/2020 | 03/25/2021 | 10-K |
| 09/30/2020 | 10/29/2020 | 10-Q |
| 06/30/2020 | 08/10/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 02/25/2020 | 10-K |
| 09/30/2019 | 11/04/2019 | 10-Q |
Recent Forward Guidance
Updated 7/27/2026Latest: Q1 2026 Earnings Reported 5/4/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 327.00 Mil | 332.00 Mil | 337.00 Mil | 0 | Affirmed | Guidance: 332.00 Mil for 2026 | |
| 2026 Revenue Growth | 10.0% | 11.5% | 13.0% | 0 | Affirmed | Guidance: 11.5% for 2026 | |
| 2026 Adjusted Gross Profit Margin | 65.5% | 66.25% | 67.0% | ||||
| 2026 Non-GAAP Operating Expenses | 210.00 Mil | 213.00 Mil | 216.00 Mil | 0 | Affirmed | Guidance: 213.00 Mil for 2026 | |
| 2028 Revenue | 450.00 Mil | 475.00 Mil | 500.00 Mil | 0 | Affirmed | Guidance: 475.00 Mil for 2028 | |
| 2028 Revenue Growth | 15.0% | 17.0% | 19.0% | ||||
| 2028 Adjusted EBITDA Margin | 13.0% | 14.0% | 15.0% | 0 | Affirmed | Guidance: 14.0% for 2028 | |
Prior: Q4 2025 Earnings Reported 3/3/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 327.00 Mil | 332.00 Mil | 337.00 Mil | 0 | Affirmed | Guidance: 332.00 Mil for 2026 | |
| 2026 Revenue Growth | 10.0% | 11.5% | 13.0% | -0.5% | Lowered | Guidance: 12.0% for 2026 | |
| 2026 Non-GAAP Operating Expenses | 210.00 Mil | 213.00 Mil | 216.00 Mil | ||||
| 2026 Adjusted EBITDA Margin | 1.0% | 3.0% | 5.0% | ||||
| 2028 Revenue | 450.00 Mil | 475.00 Mil | 500.00 Mil | 0 | Affirmed | Guidance: 475.00 Mil for 2028 | |
| 2028 Adjusted EBITDA Margin | 13.0% | 14.0% | 15.0% | ||||
Q4 2025 Earnings Reported 1/9/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 327.00 Mil | 332.00 Mil | 337.00 Mil | Higher New | |||
| 2026 Revenue Growth | 11.0% | 12.0% | 13.0% | Higher New | |||
| 2028 Revenue | 450.00 Mil | 475.00 Mil | 500.00 Mil | -32.1% | Lowered | Guidance: 700.00 Mil for 2028 | |
| 2028 Operating Margin | 13.0% | 14.0% | 15.0% | -6.0% | Lowered | Guidance: 20.0% for 2028 | |
Q3 2025 Earnings Reported 11/5/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Non-GAAP Operating Income | 5.00 Mil | 6.00 Mil | 7.00 Mil | ||||
| 2025 Net Revenue | 295.00 Mil | 300.00 Mil | 305.00 Mil | 0 | Affirmed | Guidance: 300.00 Mil for 2025 | |
| 2025 Non-GAAP Operating Expenses | 208.00 Mil | 210.50 Mil | 213.00 Mil | 0 | Affirmed | Guidance: 210.50 Mil for 2025 | |
| 2025 Evolysse Revenue Contribution | 0.1 | 0.11 | 0.12 | ||||
| 2028 Total Net Revenue | 700.00 Mil | 0 | Affirmed | Guidance: 700.00 Mil for 2028 | |||
| 2028 Non-GAAP Operating Income Margin | 20.0% | 0 | Affirmed | Guidance: 20.0% for 2028 | |||
Insider Activity
Updated 4/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Avelar, Rui | See Remarks | Direct | Sell | 3202026 | 4.75 | 3,119 | 14,815 | 2,030,259 | Form |
| 2 | Moatazedi, David | See Remarks | Direct | Sell | 3202026 | 4.75 | 13,669 | 64,929 | 2,872,385 | Form |
| 3 | Moatazedi, David | See Remarks | Direct | Sell | 3182026 | 4.89 | 116,720 | 570,562 | 3,022,773 | Form |
| 4 | Avelar, Rui | See Remarks | Direct | Sell | 3182026 | 4.89 | 29,996 | 146,629 | 2,104,618 | Form |
| 5 | Moatazedi, David | See Remarks | Direct | Sell | 12292025 | 7.15 | 10,539 | 75,361 | 2,534,122 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Avelar, Rui | See Remarks | Direct | Sell | 3202026 | 4.75 | 3,119 | 14,815 | 2,030,259 | Form |
| 2 | Moatazedi, David | See Remarks | Direct | Sell | 3202026 | 4.75 | 13,669 | 64,929 | 2,872,385 | Form |
| 3 | Moatazedi, David | See Remarks | Direct | Sell | 3182026 | 4.89 | 116,720 | 570,562 | 3,022,773 | Form |
| 4 | Avelar, Rui | See Remarks | Direct | Sell | 3182026 | 4.89 | 29,996 | 146,629 | 2,104,618 | Form |
| 5 | Moatazedi, David | See Remarks | Direct | Sell | 12292025 | 7.15 | 10,539 | 75,361 | 2,534,122 | Form |
| 6 | Avelar, Rui | See Remarks | Direct | Sell | 12292025 | 7.15 | 2,261 | 16,168 | 2,551,520 | Form |
| 7 | Yamagishi-Dressler, Tomoko | Chief Marketing Officer | Direct | Sell | 8262025 | 7.51 | 5,722 | 42,972 | 675,517 | Form |
| 8 | Stewart, Brady | Direct | Buy | 8182025 | 6.82 | 30,000 | 204,486 | 604,113 | Form | |
| 9 | Moatazedi, David | See Remarks | Direct | Sell | 6162025 | 9.89 | 16,582 | 164,054 | 3,610,405 | Form |
| 10 | Moatazedi, David | See Remarks | Direct | Sell | 6162025 | 10.05 | 111,323 | 1,119,141 | 3,835,348 | Form |
| 11 | White, Albert G Iii | Direct | Buy | 6102025 | 9.45 | 20,000 | 189,000 | 476,072 | Form | |
| 12 | Beaver, Sandra | Chief Financial Officer | Direct | Sell | 5142025 | 10.02 | 6,494 | 65,070 | 1,674,232 | Form |
| 13 | Avelar, Rui | See Remarks | Direct | Sell | 5142025 | 9.87 | 3,385 | 33,397 | 3,542,739 | Form |
| 14 | Moatazedi, David | See Remarks | Direct | Sell | 5142025 | 9.87 | 15,787 | 155,756 | 4,862,330 | Form |
Investor Activity (13F)
Updated Aug 19, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Health Care Resources |
| U.S. National Library of Medicine |
| ClinicalTrials.gov |
| Modern Healthcare |
| Healthcare Dive |
| Fierce Healthcare |
| Health Affairs |
| Health Data Management |
| FDA Tracker |
| Pharmaceuticals Resources |
| Fierce Pharma |
| Pharm Exec |
| Endpoints News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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