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Evolus, Inc. (EOLS) stock

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NASDAQ: EOLS Nasdaq Pharmaceuticals Next results ~November 4, 2026

C Fundamentals grade

Evolus, Inc. is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$5.0

Valuation models combined (4)

Base case. Range ~$2.5–$9.0. Weighted average of 4 models (growth cash-flow model, forward price-to-earnings vs peers, forward price-to-sales vs peers, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Evolus, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 2 selling0 purchases and 7 sales by directors and officers, last 12 monthsInsider trades
  • Funds87 adding, 58 cuttingOf 31 active managers that changed their stake, 20 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Evolus files

Where Evolus stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $316m, up 13.9% on a year earlier, faster than the 9.6% growth a quarter earlier. Free-cash-flow margin rose to -5.8% from -15.5% a year earlier. Operating margin widened to -5.9% from -15.5%. The diluted share count is up 2.3% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 1 of our 5 financial-health checks. Our revenue-to-maturity cash-flow model value is $9.12 a share, against a share price of $7.61.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Evolus, Inc.'s trailing-twelve-month revenue grew 13.9% year on year, with a free-cash-flow margin of -5.8%. Where it stands out: change in growth rate of +4.3pp ranks 14 of 74 pharmaceuticals companies we cover. Where it lags: long-term debt as % of assets of 63.2% ranks 47 of 53 pharmaceuticals companies we cover.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 53% in the quarter to 2026-06-30, the 3rd beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 4.3 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 9.6 points on a year ago.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 21.9% over 90 days.

Things to watch

  • Loss-making. Operating margin is -5.9%: costs exceed revenue.
  • Burning cash. Free cash flow was -5.8% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 2.3% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 67% and a beta of 1.1 against the S&P 500.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 63.2% ranks 47 of 53 pharmaceuticals companies we cover (median 23.8%).
  • Short interest rising. Shares sold short rose 16% in a month to 9.8% of tradable shares.

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
-$0.02 against an average estimate of -$0.04: beat by 52.6%
Revenue
$84m, up 21.2% on a year earlier
Share reaction
+21.1% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Guidance given
total net revenues $330m to $337m (full-year 2026); total net revenues growth growth 11% to 13% (full-year 2026)
Next report
November 4, 2026; average EPS estimate -$0.07

Evolus' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.6%
  • 1 week-0.1%
  • 1 month+0.3%
  • This year+7.7%
  • 1 year+10.8%
  • 5 years-5.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$316M
Operating margin
-5.9%
Net margin
-10.8%
EPS (TTM, diluted)
$-0.53

Growth

Revenue growth
+13.9%
Change in growth rate
+4.3 pts
Share count change
+2.3%

Cash

Free cash flow (TTM)
-$18.3M
FCF margin
-5.8%
Stock pay % of revenue
6.6%

Earnings

Last results
August 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Agreement
  4. Agreement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Evolus, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Evolus, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.99 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$3.5 ~$1.6–$5.0 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$2.5 ~$2.7–$4.9 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$9.0 ~$8.0–$23 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$8.4 ~$6.2–$11 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$5.0 ~$2.5–$9.0 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Evolus, Inc. with Pharmaceuticals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20182019202020212022202320242025Now
Share price$11.90$12.17$3.36$6.51$7.51$10.53$11.04$6.65$7.16
Market value$290m$344m$113m$324m$421m$599m$685m$429m$467m
+ Net debt (− = net cash)−$76m−$35m−$62m−$71m$21m$62m$38m$96m$115m
Enterprise value$214m$309m$51m$253m$442m$662m$723m$525m$582m
Multiples
Price / sales —9.8x2.0x3.3x2.8x3.0x2.6x1.4x1.5x
Price / earnings —————————
Price / free cash flow —————————
EV / EBITDA —————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

10 /100

Weak moat

How hard Evolus's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -35.9% of total assets over 9 years.

  • Durability 10 / 20

    Operating margin has been a median -44.4%; its worst year was -3689.4%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 8 years, at a median -25.9% of revenue.

  • Discipline 2 / 20

    The diluted share count rose 63.2% over five years; stock-based pay has been a median 8.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (15 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close. Analysts expect revenue of $78m and EPS of −$0.07 (range −$0.08 to −$0.06) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.05 +89% $334m +12%
Next $0.29 +716% $392m +17%

Next year's EPS estimate has moved +21.9% in 90 days, across 4 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −49.5% on 90 days ago. In the last 30 days, 5 analysts raised Evolus, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Evolus, Inc., last 90 days
−$0.10 $0.00 $0.10 $0.20 $0.30 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.09 Current fiscal year, 60 days ago: −$0.04 Current fiscal year, 30 days ago: −$0.04 Current fiscal year, 7 days ago: −$0.05 Current fiscal year, Now: −$0.05 −$0.05 Next fiscal year, 90 days ago: $0.24 Next fiscal year, 60 days ago: $0.26 Next fiscal year, 30 days ago: $0.28 Next fiscal year, 7 days ago: $0.29 Next fiscal year, Now: $0.29 $0.29

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.09$0.24
60 days ago −$0.04$0.26
30 days ago −$0.04$0.28
7 days ago −$0.05$0.29
Now −$0.05$0.29

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.04 −$0.02 +52.6%
Mar 2026 −$0.12 −$0.05 +57.9%
Dec 2025 $0.04 $0.01 −64.8%
Sept 2025 −$0.18 −$0.15 +19.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • total net revenues full-year 2026 $330m to $337m Raised
    “Raises total net revenues for the full-year 2026 to between $330 million and $337 million, from $327 million to $337 million, which represents 11% to 13% growth over the prior year.” source
  • total net revenues growth full-year 2026 11% growth to 13% growth Raised
    “Raises total net revenues for the full-year 2026 to between $330 million and $337 million, from $327 million to $337 million, which represents 11% to 13% growth over the prior year.” source
  • total net revenue (2028 long-term outlook) 2028 $450m to $500m Maintained
    “Reaffirms its 2028 long-term financial outlook reflecting total net revenue between $450 million and $500 million, representing a three-year CAGR of 15% to 19%, and Adjusted EBITDA margins of 13% to 15% for 2028, which reflects:” source
  • three-year revenue CAGR (2028 long-term outlook) 2028 15% growth to 19% growth Maintained
    “Reaffirms its 2028 long-term financial outlook reflecting total net revenue between $450 million and $500 million, representing a three-year CAGR of 15% to 19%, and Adjusted EBITDA margins of 13% to 15% for 2028, which reflects:” source
  • adjusted gross profit margin full-year 2026 67% to 67.5% Non-GAAP Raised
    “Raises adjusted gross profit margin for the full-year 2026 to between 67.0% and 67.5%, from 65.5% to 67.0%, reflecting an evolving revenue mix while maintaining a disciplined approach to margin optimization.” source
  • non-GAAP operating expenses full-year 2026 $212m to $216m Non-GAAP Narrowed
    “Narrows non-GAAP operating expenses for the full-year 2026 to between $212 million and $216 million, from $210 million to $216 million, representing a modest 1% to 3% growth over 2025 non-GAAP operating expenses, and reflecting continued disciplined expense management while supporting strategic investments in long-term portfolio expansion.” source
Show 2 more items
  • Evolysse and Estyme injectable HA gels contribution to total revenue full-year 2026 10% to 12%
    “Expects Evolysse ® and Estyme ® injectable HA gels to contribute 10% to 12% of total revenue for the full-year 2026, reflecting:” source
  • Adjusted EBITDA margin (2028 long-term outlook) 2028 13% to 15% Non-GAAP Maintained
    “Reaffirms its 2028 long-term financial outlook reflecting total net revenue between $450 million and $500 million, representing a three-year CAGR of 15% to 19%, and Adjusted EBITDA margins of 13% to 15% for 2028, which reflects:” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

6 analysts, Oct 2026
Buy583%
Hold117%
Sell00%

Monthly trend

  1. Oct 20261416
  2. Sep 20261416
  3. Aug 20261517
  4. Jul 20261517

Counts of recommendations published by analysts covering Evolus, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
9.8%
of tradable shares
Days to cover
8.44
at average volume
Short interest, 1 month
+16%
to October 15, 2026
Held by institutions
78%
of shares
Held by insiders
11.2%
of shares
Employees
353
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +10.8%

$6.46 on October 31, 2025 to $7.16

ThenNowEffect
Revenue (last 12 months) $278m $316m +13.9%
P/S multiple 1.5x 1.5x −0.4%
Share count 64m 65m −2.3%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years −9.7%

$7.93 on November 3, 2023 to $7.16

ThenNowEffect
Revenue (last 12 months) $169m $316m +87.7%
P/S multiple 2.7x 1.5x −44.5%
Share count 56m 65m −13.4%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
EOLS+94%+15%+40%+5%−40%+8%
Industry peers (median)−20%−52%−14%−2%+9%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
EOLS58%58%50%58%42%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
EOLS−68%−53%−35%−38%−62%−41%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since February 8, 2018: 92% from June 6, 2018 to October 29, 2020. Getting back needed a 1218% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$3.94 – $9.30
From 52-week high
−23.0%
vs 50-day average
−10.0%
vs 200-day average
+14.2%
Volatility (1 year)
67%
Beta vs S&P 500
1.15

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±16.0%
After a week
6 up, 6 down
typical move ±18.7%
After a month
6 up, 6 down
typical move ±19.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 +21.1% −0.4% +32.7% +47.9%
May 4, 2026 +19.5% +0.4% +18.6% +13.1%
March 3, 2026 +30.3% −0.2% +23.1% +0.5%
January 9, 2026 +0.5% +0.8% −9.4% −22.5%
November 5, 2025 +12.0% −0.7% +13.9% +6.9%
August 5, 2025 −30.1% +0.3% −29.7% −17.6%
May 7, 2025 −13.1% +1.1% −14.0% −13.5%
March 4, 2025 −1.2% −0.1% −11.4% −14.8%
January 21, 2025 +34.4% +1.5% +35.4% +39.1%
November 6, 2024 −13.3% +3.3% −25.7% −23.2%
July 31, 2024 +15.2% +0.2% +5.9% +29.9%
May 7, 2024 −1.0% +0.1% −4.6% −7.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Evolus, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Evolus, Inc.
$150M $200M $250M $300M $350M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $184.7M Revenue (TTM), FY23 Q4: $202.1M Revenue (TTM), FY24 Q1: $219.7M Revenue (TTM), FY24 Q2: $237.3M Revenue (TTM), FY24 Q3: $248.3M Revenue (TTM), FY24 Q4: $266.3M Revenue (TTM), FY25 Q1: $275.5M Revenue (TTM), FY25 Q2: $277.9M Revenue (TTM), FY25 Q3: $285.8M Revenue (TTM), FY25 Q4: $297.2M Revenue (TTM), FY26 Q1: $301.8M Revenue (TTM), FY26 Q2: $316.5M $316.5M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $184.7M
FY23 Q4 $202.1M
FY24 Q1 $219.7M
FY24 Q2 $237.3M
FY24 Q3 $248.3M
FY24 Q4 $266.3M
FY25 Q1 $275.5M
FY25 Q2 $277.9M
FY25 Q3 $285.8M
FY25 Q4 $297.2M
FY26 Q1 $301.8M
FY26 Q2 $316.5M
Revenue growth, TTM YoY Evolus, Inc.
0% 20% 40% 60% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 32.3% Revenue growth, TTM YoY, FY23 Q4: 36.0% Revenue growth, TTM YoY, FY24 Q1: 40.4% Revenue growth, TTM YoY, FY24 Q2: 40.7% Revenue growth, TTM YoY, FY24 Q3: 34.4% Revenue growth, TTM YoY, FY24 Q4: 31.8% Revenue growth, TTM YoY, FY25 Q1: 25.4% Revenue growth, TTM YoY, FY25 Q2: 17.1% Revenue growth, TTM YoY, FY25 Q3: 15.1% Revenue growth, TTM YoY, FY25 Q4: 11.6% Revenue growth, TTM YoY, FY26 Q1: 9.6% Revenue growth, TTM YoY, FY26 Q2: 13.9% 13.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 32.3%
FY23 Q4 36.0%
FY24 Q1 40.4%
FY24 Q2 40.7%
FY24 Q3 34.4%
FY24 Q4 31.8%
FY25 Q1 25.4%
FY25 Q2 17.1%
FY25 Q3 15.1%
FY25 Q4 11.6%
FY26 Q1 9.6%
FY26 Q2 13.9%
Operating margin (TTM) Evolus, Inc.
-30% -20% -10% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -27.7% Operating margin (TTM), FY23 Q4: -24.4% Operating margin (TTM), FY24 Q1: -21.0% Operating margin (TTM), FY24 Q2: -16.3% Operating margin (TTM), FY24 Q3: -16.4% Operating margin (TTM), FY24 Q4: -12.9% Operating margin (TTM), FY25 Q1: -14.8% Operating margin (TTM), FY25 Q2: -15.5% Operating margin (TTM), FY25 Q3: -13.7% Operating margin (TTM), FY25 Q4: -11.0% Operating margin (TTM), FY26 Q1: -8.1% Operating margin (TTM), FY26 Q2: -5.9% -5.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -27.7%
FY23 Q4 -24.4%
FY24 Q1 -21.0%
FY24 Q2 -16.3%
FY24 Q3 -16.4%
FY24 Q4 -12.9%
FY25 Q1 -14.8%
FY25 Q2 -15.5%
FY25 Q3 -13.7%
FY25 Q4 -11.0%
FY26 Q1 -8.1%
FY26 Q2 -5.9%
FCF margin (TTM) Evolus, Inc.
-30% -20% -10% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -24.2% FCF margin (TTM), FY23 Q4: -17.1% FCF margin (TTM), FY24 Q1: -11.2% FCF margin (TTM), FY24 Q2: -7.7% FCF margin (TTM), FY24 Q3: -9.4% FCF margin (TTM), FY24 Q4: -7.3% FCF margin (TTM), FY25 Q1: -8.9% FCF margin (TTM), FY25 Q2: -15.5% FCF margin (TTM), FY25 Q3: -18.4% FCF margin (TTM), FY25 Q4: -15.4% FCF margin (TTM), FY26 Q1: -13.3% FCF margin (TTM), FY26 Q2: -5.8% -5.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -24.2%
FY23 Q4 -17.1%
FY24 Q1 -11.2%
FY24 Q2 -7.7%
FY24 Q3 -9.4%
FY24 Q4 -7.3%
FY25 Q1 -8.9%
FY25 Q2 -15.5%
FY25 Q3 -18.4%
FY25 Q4 -15.4%
FY26 Q1 -13.3%
FY26 Q2 -5.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 0 35 57 100 149 202 266 297 316
Gross profit 0 27 38 56 90 138 182 197 211
EBITDA −46 −95 −146 −39 −62 −44 −29 −25 −11
Operating income −46 −99 −153 −44 −65 −49 −34 −33 −19
Net income −47 −90 −163 −47 −74 −62 −50 −52 −34
Diluted EPS −$1.92 −$3.19 −$4.83 −$0.94 −$1.33 −$1.08 −$0.81 −$0.80 −$0.53
Growth (year on year)
Revenue — — +61.9% +76.3% +49.1% +36.0% +31.8% +11.6% +13.9%
Margins
Gross margin — 77.1% 67.6% 56.3% 60.4% 68.1% 68.5% 66.3% 66.7%
EBITDA margin — −271.5% −258.3% −38.9% −41.5% −21.8% −10.9% −8.5% −3.6%
Operating margin — −283.3% −270.7% −44.6% −44.0% −24.4% −12.9% −11.0% −5.9%
Net margin — −257.8% −288.3% −47.0% −50.1% −30.5% −18.9% −17.4% −10.8%
Free-cash-flow margin — −268.4% −103.8% −33.9% −58.2% −17.1% −7.3% −15.4% −5.8%
Cash flow
Cash from operations −26 −93 −58 −33 −85 −34 −18 −42 −15
Capital spending 0 0 1 0 2 0 1 3 3
Free cash flow −26 −94 −59 −34 −87 −34 −19 −46 −18
Stock-based pay 7 10 11 10 11 16 22 21 21
Free cash flow after stock pay −33 −103 −69 −43 −97 −51 −42 −66 −39
Balance sheet
Cash 93 110 103 146 54 63 87 54 45
Total debt 17 75 41 75 75 125 125 150 160
Net debt (negative = net cash) −76 −35 −62 −71 21 62 38 96 115
Diluted shares 24m 28m 34m 50m 56m 57m 62m 64m 65m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 5 checks passed · June 30, 2026
What it owns · $248m
Short-term assets $168mLonger-term assets $80m
What it owes, and who funded it · $279m
Short-term liabilities $99mLonger-term liabilities $180mShareholders' equity $-31m
  • Short-term assets cover short-term liabilities $168m of assets due within a year against $99m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $168m short-term assets against $180m of longer-dated liabilities.
  • More cash than debt $45m of cash against $157m of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$15m of operating cash flow against $157m of debt.
  • Operating profit covers interest at least five times over Operating income of −$19m against $16m of interest.

From Evolus, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+2.3%
year over year
R&D spending
3.1%
of revenue
Sales & admin spending
68.4%
of revenue
Days sales outstanding
72 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in pharmaceuticals
Last 12 months unless stated EOLS XERS HROW IRWD ACB VNDA Median
Revenue, last 12 months $316m $335m $276m $389m $232m $229m $276m
Revenue growth, last 12 months 13.9% 36.3% 21.1% 26.2% 11.7% 8.1% 9.9%
Revenue growth, 3-year average 23.4% 35.8% 39.0% −3.1% — 2.7% 5.5%
Revenue growth, latest quarter 21.2% 28.7% 10.9% 32.6% — 24.1% 6.5%
Gross margin 66.7% — 73.3% 99.2% 42.6% 90.0% 62.0%
Operating margin −5.9% 10.9% −1.0% 60.1% 1.9% −77.6% −5.9%
Operating margin, 3-year average −12.6% −4.5% −0.1% 37.4% — −51.4% −7.4%
Net margin −10.8% −5.1% −13.5% 33.4% −42.4% −119.9% −7.3%
Cash from operations / revenue −4.9% 16.9% 2.3% 47.7% −4.2% −60.7% 10.2%
Free-cash-flow margin −5.8% 16.5% 1.8% 47.7% −5.4% −61.0% 8.6%
Free-cash-flow margin, 3-year average −9.6% −4.1% 0.8% 31.3% — −36.6% 7.4%
Stock pay / revenue 6.6% 8.4% 5.3% 3.7% 2.3% 4.1% 3.6%
Change in share count 2.3% 19.6% 0.5% −2.0% 3.0% 1.8% 1.9%

Median of all 75 companies we cover in pharmaceuticals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

75 pharmaceuticals companies
Measure Company Peer median Rank
Revenue growth Growth 13.9% 10.0% 29 of 74
Change in growth rate Growth +4.3pp -0.3pp 14 of 74
Gross margin Profitability 66.7% 59.8% 24 of 59
Operating margin Profitability -5.9% -5.9% 33 of 67
Net margin Profitability -10.8% -7.3% 42 of 75
Free-cash-flow margin Cash generation -5.8% 10.1% 50 of 74
Stock pay as % of revenue Cash generation 6.6% 3.6% 49 of 69
Long-term debt as % of assets Balance sheet 63.2% 23.8% 47 of 53
Change in share count Balance sheet 2.3% 1.5% 36 of 62
Days sales outstanding Balance sheet 72 days 72 days 29 of 59

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Products $295M 99.3% ▲ 11.6%
Services $2.2M 0.7% ▲ 12.8%

From Evolus, Inc.'s 10-K filed March 3, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$385M
Institutions reporting
157
Shares held vs prior quarter
▲ 21.8%
Positions opened / closed
32 / 18

Top buyers and sellers, Q2 2026: 87 institutions bought and 58 sold ; the biggest buyer was Nantahala Capital Management, LLC (+4.8M shares) and the biggest seller Soleus Capital Management, L.P (−1.4M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Nantahala Capital Management, LLC $77.8M 11.2M 20.2% ▲ 75.7%
Blackrock, Inc. $33.6M 4.8M 8.7% ▲ 12.8%
Braidwell LP $21.9M 3.2M 5.7% ▲ 1.6%
Frazier Life Sciences Management, L.P. $18.3M 2.6M 4.7% 0.0%
Perceptive Advisors LLC $17.1M 2.5M 4.4% ▲ 91.1%
Vanguard Capital Management LLC $16.4M 2.4M 4.3% ▼ 4.4%
Assenagon Asset Management S.A. $12.6M 1.8M 3.3% ▲ 203.7%
Millennium Management LLC $12.4M 1.8M 3.2% ▲ 22.4%
State Street Corp $11.8M 1.7M 3.1% ▲ 28.5%
Geode Capital Management, LLC $11.2M 1.6M 2.9% ▲ 16.4%
Stonepine Capital Management, LLC $11M 1.6M 2.9% ▼ 9.6%
Point72 Asset Management, L.P. $10.5M 1.5M 2.7% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Evolus, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1.8M 7 trades by 2 insiders · 48% under pre-set plans
Net ▼ $1.8M net selling
Insider Date Trade Shares Price Value
Moatazedi David See Remarks September 2, 2026 Sell 105,108 $9.04 $950,176
Moatazedi David See Remarks March 20, 2026 Sell pre-set plan 13,669 $4.75 $64,928
Avelar Rui See Remarks March 20, 2026 Sell pre-set plan 3,119 $4.75 $14,815
Avelar Rui See Remarks March 17, 2026 Sell pre-set plan 29,996 $4.89 $146,680
Moatazedi David See Remarks March 17, 2026 Sell pre-set plan 116,720 $4.89 $570,761
Avelar Rui See Remarks December 22, 2025 Sell pre-set plan 2,261 $7.15 $16,166
Moatazedi David See Remarks December 22, 2025 Sell pre-set plan 10,539 $7.15 $75,354

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • August 5, 2026
  • May 4, 2026
  • March 3, 2026
  • January 9, 2026
  • November 5, 2025
  • August 5, 2025

Recent SEC filings

Data status

When each part of this page on Evolus, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Evolus, Inc. in brief

What does Evolus, Inc. do?
Evolus, Inc. is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.
What is Evolus, Inc.'s stock ticker?
Evolus, Inc. trades under the ticker EOLS on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Evolus, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Evolus, Inc. reported revenue of $316M, 13.9% higher than a year earlier, according to its SEC filings.
What is Evolus, Inc.'s free cash flow?
Evolus, Inc.'s free-cash-flow margin is -5.8% of revenue over the trailing twelve months, ranking 50 of the 74 pharmaceuticals companies we cover.
Who are Evolus, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Nantahala Capital Management, LLC, Blackrock, Inc. and Braidwell LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Evolus, Inc.'s market cap?
On November 2, 2026, Evolus, Inc.'s market capitalisation was about $467M and net debt of $115M. Market figures come from third-party market data and may be delayed.
Who are Evolus, Inc.'s competitors?
In our Pharmaceuticals peer group, the companies closest to Evolus, Inc. are Xeris Biopharma Holdings, Inc., Harrow, Inc., Ironwood Pharmaceuticals Inc, Aurora Cannabis Inc and Vanda Pharmaceuticals Inc. The side-by-side comparison below sets their revenue, margins and growth against Evolus, Inc.'s.
Are insiders buying or selling Evolus, Inc. stock?
Over the last 12 months, Evolus, Inc.'s directors and officers reported 0 open-market purchases and 7 sales on Form 4. The insider trading page charts every trade.
When is Evolus, Inc.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Evolus, Inc. announces its own schedule.