37 slides from Evolus, Inc. Common Stock's earnings presentation, Mar 4, 2025
Slide 1: Evolus
CVOLUS
Slide 2: Investor Presentation March 2025
INVESTOR PRESENTATION MARCH 2025 2
Slide 3: Disclosures: Forward Looking Statements
DISCLOSURES FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this presentation, including statements regarding our future resul
Slide 4: Our Purpose
OUR PURPOSE TO MAKE THEIR BEAUTY EXPERIENCE DELIGHTFUL AND ACHIEVABLE 4
Slide 5: A Compelling Investment Opportunity
A COMPELLING INVESTMENT OPPORTUNITY UNDERPENETRATED AESTHETICS MARKET Building a brand focused on the YOUNGER DEMOGRAPHIC GAINING MARKET SHARE IN THE U.S. while expanding internationally Total addressable market Fully funded to UNIQUE CASH-PAY EXPANDS BY 78% PROFITABILITY** BUSINESS MODEL with addit
Slide 6: Growing Our Presence in Large & Underpenetrated Markets—Toxins
GROWING OUR PRESENCE IN LARGE & UNDERPENETRATED MARKETS—TOXINS EVOLUS IS CONTINUING TO GAIN SHARE JEUVEAU SHARE OF TOXIN MARKET IN THE FAST-GROWING NEUROTOXIN MARKET OVER THE LAST FEW YEARS* 14% 12% 13% 10% 11% 8% 9% 6% 7% 7% 4% 4% 2% 0% 2019 2020 2021 2022 2023 2024** * Market share (U.S.) is a com
Slide 7: Expanding and Growing Global Addressable Market
EXPANDING AND GROWING GLOBAL ADDRESSABLE MARKET GROWING TO $10B IN 2028 ~$10.0B $4.0B $6.2B ® $2.4B $3.7B $1.8B $6.0B $3.8B FILLERS $1.9B NEUROTOXINS 2019 2024 2028 11% 13% CAGR CAGR Sources: Medical Insight, Inc.: The Global Aesthetic Market Study: XXII —January 2025 Note: Evolysse is licensed in t
Slide 8: Evolus International Expected to Achieve $100M in 2028
EVOLUS INTERNATIONAL EXPECTED TO ACHIEVE $100M IN 2028 $0.3B • Uniquely positioned in Europe as one of five $0.3B companies with a portfolio of neurotoxins and injectable HA gels $0.2B • The combination of toxin and filler doubled the addressable market to $1.8 billion in 2023 $0.2B $0.2B $0.2B o We
Slide 9: Strong Historical Revenue Growth
STRONG HISTORICAL REVENUE GROWTH VASTLY OUTPACING THE MARKET AS WE EXCEED 30% REVENUE GROWTH FOR THE FIFTH CONSECUTIVE YEAR 44% CAGR +31% +32% +36% +49% $345M- $355M* +76% $266.3M $202.1M $148.6M $99.7M $56.5M 2020 2021 2022 2023 2024 2025 * Company guidance as of March 4, 2025 9
Slide 10: A Unique Business Strategy
A UNIQUE BUSINESS STRATEGY 1 4 STRATEGIC ADVANTAGE CUSTOMER SUCCESS • First cash-pay, aesthetics-only performance • Investing in customer growth beauty company • Only aesthetics company to offer co-branded marketing CHALLENGER BRAND 2 TRANSFORMING THE INDUSTRY • Executing a performance beauty strate
Slide 11: Differentiated Cash Pay Business Model
DIFFERENTIATED CASH PAY BUSINESS MODEL WHY CASH PAY • Avoids third-party payer reimbursement complications • Greater pricing flexibility without tie to therapeutics • Enables co-branded marketing • Promotes brand and practices to draw in consumers • Ability to offer customers a compelling value prop
Slide 12: Executing a Performance Beauty Strategy
EXECUTING A PERFORMANCE BEAUTY STRATEGY • Evolus is a performance beauty company with a customer-centric approach to delivering breakthrough products in the self-pay aesthetics market • Focus on making the beauty experience delightful and achievable • First product line focused on neurotoxins—Jeuvea
Slide 13: At Least 2X Intent to Use Neuromodulators Among Younger Demographic
INTENT TO USE NEUROMODULATORS IN NEXT 5 YEARS PROJECTED ADOPTION AGE 16% AMONG THE YOUNGER < 40 DEMOGRAPHIC: 10.5 % AT LEAST 2X AGE 12% AS LIKELY AS THE 40-50 OLDER DEMOGRAPHIC AGE 50+ 6% Source: From Extreme to Mainstream: The Future of Aesthetics Injectables. McKinsey & Company, Dec. 2021 13
Slide 14: Ready to Scale Performance Beauty Opportunity
READY TO SCALE PERFORMANCE BEAUTY OPPORTUNITY INCREASE ACCESS, UNLOCK NEW VALUES & ELIMINATE FRICTION DIGITAL INVESTMENTS BENEFITTING PRACTICES AND CONSUMERS ATTRACT MILLENNIALS AND LEAD TO INCREASED CUSTOMER AND CONSUMER LOYALTY INCREASE VALUE TO PRACTICE PHYSICIAN FINDER INCREASE ACCESS LOYALTY PR
Slide 15: Co-Branded Marketing for a Personal Experience
CO-BRANDED MARKETING FOR A PERSONAL EXPERIENCE BILLBOARDS DIGITAL STREAMING TV 1,600+ BILLBOARDS* 7,500+ DIGITAL CAMPAIGNS* 400+ ETV CAMPAIGNS* *Reflects campaigns completed and aired since 2020 15
Slide 16: Using Medical Education to Establish the Precision Profile of Jeuveau
USING MEDICAL EDUCATION TO ESTABLISH THE PRECISION PROFILE OF JEUVEAU® LIVE EVENTS 17K+ INJECTORS MEDICAL AFFAIRS TRAINING BUS EDUCATED IN 2023/24 TEAM 2023 16
Slide 17: Evolus Rewards Program
EVOLUS REWARDS PROGRAM ACTIVATION CONTINUES TO GROW EVOLUS REWARDS HAD ANOTHER RECORD-BREAKING CONSUMER REDEMPTIONS IN THE EVOLUS QUARTER AND RECORDED ~1.1 MILLION IN REWARDS PROGRAM CONTINUE TO GROW* TOTAL ENROLLMENTS 2500 TOTAL PATIENT REDEMPTIONS (000s) 60% EXISTING PATIENTS SHARE 50% 2000 40% 15
Slide 18: Market Expansion Opportunity—Fillers
MARKET EXPANSION OPPORTUNITY—FILLERS TOXINS AND FILLERS ARE THE TOP 2 MEDICAL AESTHETIC PROCEDURES* FILLERS ARE THE #2 SERVICE PROVIDED FILLERS ARE THE #1 ADD-ON PROCEDURE ACROSS ALL CHANNELS* FOR TOXIN USERS* 1 2 FILLER 34% PLASTIC TOXINS FILLERS SURGEONS: SKINCARE 21% LASER HAIR DERMATOLOGISTS: TO
Slide 19: Customer Synergies
CUSTOMER SYNERGIES CURRENT CUSTOMERS ARE READY FOR AN EVOLUS FILLER JEUVEAU CUSTOMERS 85% WILLINGNESS TO TRY A FILLER PRODUCT BY EVOLUS 1% 99% WILLING TO TRY A FILLER (N=311) OF AESTHETIC PRACTICES OFFER BOTH TOXINS AND FILLERS YES NO Source: 10-13-1023 Wave 3 A&U Source: 2024 Filler Market Research
Slide 20: Consumer Synergies
CONSUMER SYNERGIES: 70% OF TOXIN CONSUMERS ALSO USE A FILLER, 37% RECEIVE BOTH TREATMENTS DURING THE SAME APPOINTMENT INJECTABLE CONSUMER HIGHLIGHTS: 37% OF CONSUMERS RECEIVE TOXIN AND FILLER DURING THE SAME APPOINTMENT 70% OF TOXIN CONSUMERS USE A DERMAL FILLER CONSUMERS WHO CONSUMERS RECEIVE BOTH
Slide 21: Evolysse: An Innovative Technology That Complements the Jeuveau Brand
EVOLYSSE AN INNOVATIVE TECHNOLOGY THAT COMPLEMENTS THE JEUVEAU BRAND ® 21
Slide 22: Symatese Science Genesis
SYMATESE SCIENCE GENESIS 25+ YEARS IN R&D AND MANUFACTURING OF AESTHETICS & MEDICAL BIOMATERIALS LAUNCHED FIRST PEROUSE PLASTIE LAUNCH OF 2 PRODUCTS: BREAST IMPLANTS NEVELIA®, DERMAL HEMOTESE® & SOLD TO MENTOR REGENERATION COLLAPAT®II MATRIX 1997 2003 2004 2007 2011 2013 2021 SOLD RIGHTS OF XpresHAn
Slide 23: First Innovation Breakthrough in a Decade
FIRST INNOVATION BREAKTHROUGH IN A DECADE 1996 2000 2005 2008 2015 2025 NASHA® HYLACROSS® VYCROSS® OBT® PNT® COLD-X TECHNOLOGY TECHNOLOGY TECHNOLOGY TECHNOLOGY TECHNOLOGY TECHNOLOGY Note: First regulatory approval date 23
Slide 24: Evolysse Manufacturing
TM EVOLYSSE MANUFACTURING COLD-X TECHNOLOGY HA BY SYMATESE CROSS-LINKING HA CONDITIONS • Typical cross-linking: Heat • Symatese cross-linking: Cold DESIGNED TO CREATE A MORE NATURAL INJECTABLE HA GEL • Cross-linking technology o Preserve the hyaluronic acid chain FRAGMENTS o Decrease fragmentation B
Slide 25: Evolysse Versatility
TM EVOLYSSE VERSATILITY 2026 | LAUNCH INDICATION VS. USAGE RECEIVED FDA APPROVAL Q2 2025 2025 | LAUNCH | LAUNCH DATE 2027 & BEYOND | LAUNCH For US-only; Estyme® OUS launch anticipated in 2H 2025 25
Slide 26: Four Studies in Europe
FOUR STUDIES IN EUROPE VALIDATING THE DIFFERENTIATION OF THE COLD-HA TECHNOLOGY WHY: TO STUDY THE CLINICAL EFFICACY OF OUR NEWLY ACQUIRED LINE OF DERMAL FILLERS FORM: NASOLABIAL FOLD SCULPT: MID-FACE VOLUME • Head-to-head study with Restylane-L • 3-D volume of the cheek measured, • Primary endpoint,
Slide 27: Injectable Hyaluronic Acid (HA) Gel Launch Milestones
INJECTABLE HYALURONIC ACID (HA) GEL LAUNCH MILESTONES 2024 2025 2026 2027 PRODUCT INDICATION 1H 2H 1H 2H 1H 2H 1H 2H Nasolabial Folds (“NLF”) – FORM U.S. Approval Launch NLF & Smooth Lines – SMOOTH U.S. Approval Launch EVOLYSSE Mid-Face Volume – SCULPT PMA Submission Launch Lips – LIPS PMA Submissio
Slide 28: Platform Will Be Leveraged for Filler Launch
PLATFORM WILL BE LEVERAGED FOR FILLER LAUNCH INJECTABLE SALES CUSTOM BUILT TRAINING SOLUTIONS FORCE DIGITAL FOR ALL HCPS Supporting 15k INFRASTRUCTURE INCLUDING: customer base and Supporting frictionless, • Online growing across 30k efficient experience for • In-person large format potential custome
Slide 29: Financials
FINANCIALS 29
Slide 30: Jeuveau: Fastest-Growing Neurotoxin
JEUVEAU®: FASTEST- NET REVENUE GROWING NEUROTOXIN IN THE U.S. FOR FOUR CONSECUTIVE YEARS1 13% MARKET SHARE2 #2 $345M- $355M* BRAND AWARENESS3 $266.3M $202.1M #1 2 MARKET SHARE IN OR $148.6M EVOLUS ACCOUNTS4 $99.7M $56.5M $34.9M 2019 2020 2021 2022 2023 2024 2025 1. Measured by comparing year-over-ye
Slide 31: Guidance Consistently Met or Beat
GUIDANCE CONSISTENTLY MET OR BEAT OVER THE PREVIOUS THREE YEARS 2022 2023 2024 2025 NET SALES (IN MILLIONS) 143 149 150 180 1901 202 255 2651 266.3 345 355 185 OPEX (NON-GAAP) (IN MILLIONS) 135 138 140 145 1501 164 185 190 230 240 GUIDE ISSUED ACTUAL RESULTS 1. Reflects original guidance 31
Slide 32: Q4 2024 Results
Q4 2024 RESULTS Q4 NET REVENUE ACHIEVED RECORD RESULTS AND EXCEEDED EXPECTATIONS ACHIEVED FY PROFITABILITY1 ONE YEAR AHEAD OF EXPECTATIONS WITH POSITIVE NON-GAAP OPERATING INCOME OF $0.3M FOR FY 2024 • Corresponding GAAP operating loss of $34.4M, on track to expanding Non-GAAP operating income margi
Slide 33: FY 2025 Outlook
FY 2025 OUTLOOK Evolus expects: • Total net revenues for 2025 are estimated to be between $345 million and $355 million; Evolysse and Estyme® injectable HA gels anticipated to contribute 8-10% of total net revenue • Non-GAAP operating expenses for 2025 estimated to be between $230 million and $240 m
Slide 34: Projecting at Least $700M Total Net Revenue & Non-GAAP Operating Income Margin
PROJECTING AT LEAST NET REVENUE $700M TOTAL NET REVENUE & NON-GAAP OPERATING INCOME MARGIN OF AT LEAST 20% BY 2028 THE COMPANY: ≥$700M • Projects total net revenue can reach at least $700 million by 2028 and achieve Non-GAAP operating income margin of at least 20% by 2028, based on the combination o
Slide 35: Multiple Ways to Deliver Revenue Above $700M by 2028
MULTIPLE WAYS TO DELIVER REVENUE ABOVE $700M BY 2028 GLOBAL REVENUE SENSITIVITY MARKET PENETRATION 2028 US FILLER SHARE ~$4.5B 7% 9% 11% 2028 US TOXIN SHARE ~$3.0B 13% $700 $725 $750 ~$2.5B 16% $825 $850 $875 19% $950 $975 $1B U.S. U.S. INTL Note: % Share represents Unit Share. Represents net revenu
Slide 36: Thank You
THANK YOU = zed
Slide 37: Non-GAAP Information
NON-GAAP INFORMATION Within this presentation, “profitability” is defined as achieving positive non-GAAP operating income. This presentation includes references to non-GAAP operating expenses, non-GAAP operating income (loss), and non-GAAP operating income margin which each exclude (i) the revaluati