Evolus, Inc. Common Stock · NASDAQ:EOLS
Evolus, Inc. Common Stock — Investor Day (September 2024)
145 slides from Evolus, Inc. Common Stock's investor day presentation, Sep 12, 2024
Slide 1: Investor Day 09.12.24
INVESTOR DAY09.12.24
Slide 2: 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
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Slide 4: Raising the Bar
DEFINING PERFORMANCE BEAUTY EXPECT APPROVAL AND RAISING LAUNCH FOR EVOLYSSE IN THE NEXT 12 MONTHS THE BAR EXPECT TO ACHIEVE >20% NON-GAAP OPERATING INCOME WITH AT LEAST $700M BY 2028 MULTIPLE WAYS TO WIN 4
Slide 5: Medical Aesthetics: Transitioning from Pharma to Beauty
MEDICAL AESTHETICS: TRANSITIONING FROM PHARMA TO BEAUTY PHARMA BEAUTY & $1.5 TRILLION1 WELLNESS $1.5 TRILLION2 MEDICAL AESTHETICS $20 Billion 3 1. Source: IQVIA Global Use of Medicines, 2024 2. Source: McKinsey Report, 2021. 3. Medical Insight, Inc.: The Global Aesthetic Market Study—January 2024 5
Slide 6: Medical Aesthetics: Beauty Regimen Total Addressable Market
MEDICAL AESTHETICS: TRANSITIONING FROM PHARMA TO BEAUTY BEAUTY REGIMEN TOTAL ADDRESSABLE MARKET1 ACCESS >30K CLINICS HAIR $105B MAKEUP $91B3 AFFORDABILITY ~$500 NAIL CARE2 $23B INJECTABLES $10B3 SKIN CARE $217B ACCEPTANCE 4 6% 12% 16% AGE 50+ AGE 40-50 AGE < 40 1. Source: McKinsey Report, 2023 2. So
Slide 7: Evolus Experience
W WHA HO T Cash Pay Business Proven Model Science Design High Centric Performance Products Evolus Experience Superior Culture TO MAKE THEIR BEAUTY EXPERIENCE DELIGHTFUL & ACHIEVABLE Marketing Programs HOW WHAT Innovation Digital Focused Platforms 7
Slide 8: Differentiated Products, Cash Pay Focus, Education
DIFFERENTIATED PRODUCTS DIFFERENTIATED PRODUCTS co- CASH PAY FOCUS promotions CASH PAY FOCUS MEDICAL sales forceEDUCATION MEDICAL EDUCATION 8
Slide 9: Excellence in Execution
TARGETING $700M IN GLOBAL SALES BY 2028 28% CAGR VS. 2023 TOTAL ADDRESSABLE MARKET: $10B BY 2028 EXCELLENCE IN FILLERS NEUROTOXINS EXECUTION $10B 1. Growing +30% for our 5th consecutive year $4.0B on the US market $6.0B 2. Global expansion into top 7 markets to achieve $100M for international by 202
Slide 10: Consistent Track Record of Meeting or Beating Guidance
12 CONSECUTIVE QUARTERS OF AT LEAST 30% GROWTH Full Year 2022 (First Evolus Issued Revenue Guidance) January 2022 Issues Full Year 2023 Revenue Guidance of $143-$150 Q1 2022 Earnings Raises Guidance to Upper End of $143 to $150M Q2 2022 Earnings Reaffirms Guidance of Upper End of $143 to $150M Q3 20
Slide 11: Today's Presenters
TODAY’S PRESENTERS JOSE BIMONT SANDRA BEAVER DAVID MOATAZEDI RUI AVELAR TOMOKO YAMAGISHI-DRESSLER KURT KNAB 11
Slide 12: Rui Avelar, MD
RUIAVELAR,MD CHIEF MEDICAL OFFICER, HEAD OF R&D
Slide 13: Evolus Experience
BAYES Cash Pay Business Model Innovation Focused Experience Proven Science High Performance Products eVOLUS
Slide 14: Science
DEDICATED MANUFACTURING FACILITY SCIENCE 14
Slide 15: Science: Phase III Jeuveau vs Botox Study
AESTHETIC 4 SURGERY JOURNAL A Multicenter, Randomized, Double- Blind, Placebo-Controlled, Single-Dose, Phase III, Non-Inferiority Study Comparing PrabotulinumtoxinA and OnabotulinumtoxinA for the Treatment of Moderate to Severe Glabellar Lines in Adult Patients UNIVERSITY PRESS Berthold-Josef Rzany,
Slide 16: EU/Canada Phase III Glabellar Line Study
EU/CANADA PHASE III GLABELLAR LINE STUDY MEETS PRIMARY ENDPOINT: SAFETY NON-INFERIORITY RESPONDER RATE DAY 30 GLS = 0 OR 1 AT MAXIMUM FROWN EU / CANADA PHASE III EVB-003 INVESTIGATOR ASSESSMENT PLACEBO BOTOX JEUVEAU ALL AES 32.1% 41.9% 37.6% 100.0 DRUG RELATED AE’S 4.1% 14.6% 15.5% 87.2 82.8 80.0 SE
Slide 17: Science: Adult Males Post-hoc Analysis
AESTHETIC SURGERY JOURNAL PrabotulinumtoxinA vs OnabotulinumtoxinA for the Treatment of Adult Males With Moderate to Severe Glabellar Lines: Post-hoc Analyses of the Phase Ill Clinical Study Data Nowell Solish, MD; Benjamin Ascher, MD; Rui L. Avelar, MD; Vince Bertucci, MD; Isaac Bodokh, MD; Jean Ca
Slide 18: ≥1-Point Responders on the GLS at Maximum Frown
PHASE III CLINICAL STUDY POST-HOC ANALYSIS: JEUVEAU® VS. BOTOX® | ≥1-PT IMPROVEMENT GLABELLAR LINE SCALE JEUVEAU N=25 P=0.999 P=.0.443 100 ≥1-POINT RESPONDERS ON THE GLS AT MAXIMUM FROWN (%) BOTOX N=31 92 92 90.3 83.9 80 P=0.783 64 60 P=0.280 56.7 P=0.788 52 48 P=0.137 41.9 40 40 35.5 19.4 20 INVEST
Slide 19: Positive Responders on the SSS
PHASE III CLINICAL STUDY POST-HOC ANALYSIS: JEUVEAU® VS. BOTOX® | SUBJECT SATISFACTION JEUVEAU N=25 P=.0.277 100 P=0.312 BOTOX N=31 92 P=0.514 88 POSITIVE RESPONDERS ON THE SSS (%) 84 80.6 80 74.2 73.3 P=0.785 P=0.420 64 P=0.793 60 58.1 56 56 51.6 41.9 40 20 PATIENT 0 ASSESSMENT 2 14 30 90 120 150 D
Slide 20: Prabotulinumtoxin for Treatment of Millennials
PRABOTULINUMTOXIN FOR TREATMENT OF MILLENNIALS WITH MODERATE TO SEVERE GLABELLAR LINES: POST HOC ANALYSES OF THE PHASE III CLINICAL STUDY DATA Ogilvie P, et al. Dermatol Surg. 2022;48(6):664-669 SCIENCE 20
Slide 21: Millennials vs Non-Millennials: Glabellar Line Scale
MILLENNIALS VS. NON-MILLENNIALS EFFICACY: ≥1-PT IMPROVEMENT GLABELLAR LINE SCALE 120 MILLENNIALS P=0.062 P=0.107 P=0.105 ≥1-POINT RESPONDERS ON THE GLS AT MAXIMUM FROWN (%) NON-MILLENNIALS 100 100 100 P=0.010 100 95 94.8 90.2 90.2 80 76.1 P=0.274 P=0.226 66.7 60 59.1 60 51.4 P=0.583 41 40 37.4 20 IN
Slide 22: Millennials vs Non-Millennials: Global Aesthetic Improvement
MILLENNIALS VS. NON-MILLENNIALS EFFICACY: GLOBAL AESTHETIC IMPROVEMENT 120 MILLENNIALS P=0.061 P=0.026 P=0.017 NON-MILLENNIALS 100 100 100 100 POSITIVE RESPONDERS ON THE GAIS BY INVESTIGATOR 93.3 92.2 90.5 P=0.999 P=0.254 78.7 78.8 80 73.3 P=0.182 P=0.348 65.2 62.3 ASSESSMENT (%) 59 60 52.1 53.2 40
Slide 23: Millennials vs Non-Millennials: Subject Satisfaction
MILLENNIALS VS. NON-MILLENNIALS EFFICACY: SUBJECT SATISFACTION 120 MILLENNIALS P=0.009 P=0.004 P=0.014 NON-MILLENNIALS 100 98.4 100 100 P=0.495 P=0.045 POSITIVE RESPONDERS ON THE SSS (%) 88.9 90.2 85.2 85.2 85 P=0.112 80.5 78.7 80 72.9 P=0.140 68.7 62.3 60 51.9 40 20 PATIENT 0 ASSESSMENT 2 7 14 30 9
Slide 24: Innovation Focus: 40-Unit Phase II Publication
INVESTOR INNOVATION FOCUS AESTHETIC SURGERY JOURNAL Safety and Duration of Effect of 40-Unit PrabotulinumtoxinA-xvfs for the Treatment of Moderate to Severe Glabellar Lines in Adult Patients: A Phase II, Multicenter, Randomized, Double-Blind, Active-Controlled Trial any medium, provided the orsinal
Slide 25: Jeuveau Extra-Strength Phase II Duration Study
JEUVEAU EXTRA-STRENGTH PHASE II DURATION STUDY STUDY DESIGN Multi-center, double blind, randomized, active controlled • 5 sites • N=150 Three arms, randomization 1:1:1 • 40U “Extra-Strength” Jeuveau® • 20U Jeuveau® • 20U Botox® Cosmetic Duration • 1 year, or until return to baseline INNOVATION FOCUS
Slide 26: Kaplan-Meier: Return to Baseline
JEUVEAU EXTRA-STRENGTH PHASE II DURATION STUDY DURATION: 26 WEEKS KAPLAN-MEIER: RETURN TO BASELINE GLABELLAR LINES SCALE AT MAXIMUM FROWN INVESTIGATOR ASSESSMENT JEUVEAU ES 40U VS JEUVEAU 20U: HR 1.892, P-VALUE 0.0109 JEUVEAU ES 40U VS BOTOX 20U: HR 2.38, P-VALUE 0.0002 PERCENT OF PATIENTS % JEUVEAU
Slide 27: First Innovation Breakthrough in a Decade
FIRST INNOVATION BREAKTHROUGH IN A DECADE 1996 2000 2005 2008 2015 2025 NASHA® Hylacross® VYCROSS® OBT® PNT® COLD Technology Technology Technology Technology Technology Technology Note: First regulatory approval date 27
Slide 28: Evolysse, an Innovative Technology That Complements Jeuveau
EVOLYSSE, AN INNOVATIVE TECHNOLOGY THAT COMPLEMENTS THE JEUVEAU BRAND ® INNOVATION FOCUS 28
Slide 29: Hyaluronic Acid Gels
HYALURONIC ACID GELS WHAT GIVES THEM THOSE AMAZING PROPERTIES? INNOVATION FOCUS 29
Slide 30: Innovation Focus
INVESTOR DAY‘ INNOVATION FOCUS
Slide 31: Innovation Focus
INVEST DAY09. TOR 2.24 @ INNOVATION FOCUS an
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Slide 33: Innovation Focus
INVESTOR DAY‘ INNOVATION FOCUS eVOLUS 33
Slide 34: Innovation Focus
INVESTOR DAY‘ INNOVATION FOCUS eVOLUS 34
Slide 35: Evolysse Form
EVOLYSSE FORM INNOVATION FOCUS 35
Slide 36: Evolysse Manufacturing
TM EVOLYSSE MANUFACTURING 1ST-GEN COLD TECHNOLOGY HA BY SYMATESE CROSS-LINKING HA CONDITIONS • Typical cross-linking: Heat • Symatese cross-linking: Cold DESIGNED TO CREATE A MORE NATURAL HA GEL • Cross-linking technology • Preserve the hyaluronic acid chain FRAGMENTS • Decrease fragmentation BDDE •
Slide 37: Advantages of Preserving the Natural HA Structure
ADVANTAGES OF PRESERVING THE NATURAL HA STRUCTURE STRESS-RESISTANT HA GEL PRESERVING G’ AND PROJECTION G’ FOLLOWING THERMAL STRESS 70% 60% % OF REMAINING G’ 50% 40% 30% 20% 10% 0% EVOLYSSE EVOLYSSE EVOLYSSE VOLUMA RESTYLANE-L JUVEDERM RESTYLANE SMOOTH FORM SCULPT ULTRA REFYNE INNOVATION FOCUS 37
Slide 38: Advantages of a More Natural HA Structure
ADVANTAGES OF A MORE NATURAL HA STRUCTURE OSCILLATING AND SHEAR STRESS LINEAR VISCOELASTIC REGION OF HA FILLERS (SAME INDICATION BUT DIFFERENT TECHNOLOGIES) RESTYLANE-L EVOLYSSE FORM INNOVATION FOCUS 38
Slide 39: Clinical Data
CLINICAL DATA HIGH PERFORMANCE PRODUCTS 39
Slide 40: European Nasolabial Study
EUROPEAN NASOLABIAL STUDY: INJECTED VOLUMES EVOLYSSE FORM RESTYLANE-L EVOLYSSE /ESTYME® FORM VOL MEAN : .93ML MEAN : .95 ML PRIMARY ENDPOINT: NON-INFERIORITY MIN, MAX 0.3 ML ; 2.0ML 0.3 ML ; 2.0ML STUDY DESIGN Double blind, randomized, active control Split face; FORM vs. Restylane-L N=45 Duration 9
Slide 41: Evolysse Dermal Fillers: US NLF Pivotal Study
EVOLYSSE DERMAL FILLERS: US NLF PIVOTAL STUDY DOUBLE BLIND, PROSPECTIVE, RANDOMIZED, ACTIVE CONTROL STUDY DEVICES STUDY DESIGN INVESTIGATIONAL HA FILLER SPLIT FACE • EvolysseTM Smooth (20mg/ml) • Investigational vs Control • EvolysseTM Form (22mg/ml) N=140 CONTROL • 70 Evolysse-Smooth vs Control • R
Slide 42: Evolysse Form
EVOLYSSE FORM HIGH PERFORMANCE PRODUCTS 42
Slide 43: US NLF Pivotal Study: Evolysse Form vs Restylane-L
US NLF PIVOTAL STUDY INJECTED VOLUMES EVOLYSSE FORM RESTYLANE-L RESULTS EVOLYSSE FORM VS. RESTYLANE-L VOL MEAN : 1.2ML MEAN : 1.3 ML PRIMARY ENDPOINT: MIN, MAX 0.2 ML ; 3.0ML 0.5 ML ; 3.2ML NON-INFERIORITY AT 6 MONTHS MEAN GRADE CHANGE IN NASOLABIAL SEVERITY SCORE MEAN GRADE CHANGE IN NASOLABIAL SEV
Slide 44: Evolysse Smooth
EVOLYSSE SMOOTH HIGH PERFORMANCE PRODUCTS 44
Slide 45: US NLF Pivotal Study: Evolysse Smooth vs Restylane-L
US NLF PIVOTAL STUDY INJECTED VOLUMES EVOLYSSE SMOOTH RESTYLANE-L RESULTS EVOLYSSE SMOOTH VS. RESTYLANE-L VOL MEAN : 1.0ML MEAN : 1.2 ML MEETS PRIMARY ENDPOINT: MIN, MAX 0.4 ML ; 1.9ML 0.5 ML ; 3.0ML NON-INFERIORITY AT 6 MONTHS MEAN GRADE CHANGE IN NASOLABIAL SEVERITY SCORE MEAN GRADE CHANGE IN NASO
Slide 46: US NLF Pivotal Study: Safety
INITIAL TREATMENT EVOLYSSE FORM VS RESTYLANE-L US NLF PIVOTAL STUDY EVOLYSSE FORM N=70 RESTYLANE-L N=70 SAFETY COMMON TREATMENT SITE RESPONSES (SUBJECT DIARY) 61 (92.4%) 61 (92.4%) TREATMENT—EMERGENT AES 11 (15.7%) 8 (11.4%) TREATMENT-EMERGENT AE’S TREATMENT RELATED TREATMENT EMERGENT AE 10 (14.3%)
Slide 47: European Lips Study: Evolysse Lips
MEAN GRADE CHANGE FROM BASELINE IN LIP FULLNESS Evolysse Lips Restylane Kysse 1.4 1.3 1.3 1.2 1.2 EUROPEAN LIPS STUDY: 0.8 1 1.1 1 0.9 0.7 EVOLYSSE LIPS 0.6 0.8 0.4 STUDY DESIGN 0.2 Pro spect ive, sin gle arm, multi-ce nte r N=72 0 pa tie nt s 0 1 3 6 9 12 MONTHS Durat ion 12 mon ths EVOLYSSE LIPS R
Slide 48: Versatility: Indication vs. Usage
VERSATILITY INDICATION VS. USAGE 2026 | LAUNCH EXPECT APPROVAL & LAUNCH IN THE 2025NEXT 12 MONTHS | LAUNCH DATE 2027 & BEYOND | LAUNCH HIGH PERFORMANCE PRODUCTS 48
Slide 49: Evolysse Technology Story
EVOLYSSE TECHNOLOGY STORY TECHNOLOGY PRODUCT PROCEDURE NATURAL BUILDING NATURAL TISSUE NATURAL BLOCKS MATCH CORRECTION G’ ELASTIC HYDRATION MODULUS GEL DESIGNED CORRECT TO COLD HA FOR THE OPTIMAL TECHNOLOGY CORRECTION INDICATION VISCOSITY DEGREE COHESIVITY MODIFICATION 49
Slide 50: Portfolio of Brands
PORTFOLIO OF BRANDS JEUVEAU® • Pra bot uli num to xinA -x vf s injection EVOLYSSE US 5 In dica tio ns • 2 in 20 25 (Smooth, Form) 1 • 1 in 20 26 (Sculpt) 1 • 1 in 2027 (Lips) 1 ESTYME® EU 5 I ndi cat io ns in 2 H 2024 2 • Smo ot h (NL F, Pe riora l Fine Lines) • Fo rm (NLF) • Scu lp t (Mid F a c e V
Slide 51: KOL Panel
KOL PANEL IVONA PERCEC STEVE DAYAN MICHAEL KAMINER MD, PHD MD, FACS MD 51
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Slide 53: Evolus Experience
Centric Innovation Focused Experience High Performance Products Superior Marketing Programs
Slide 54: Evolus: A Powerful Beauty Brand
1 A POWERFUL BEAUTY BRAND 2 PREMIUM, HIGH-QUALITY EVOLUS 3 PRODUCTS DEEP UNDERSTANDING OF ADVANTAGE 4 OUR CONSUMER EVOLUS VALUE PROPOSITION 5 FILLER UNLOCKS INJECTABLE MARKET SUPERIOR MARKETING PROGRAMS DESIGN CENTRIC HIGH PERFORMANCE PRODUCTS 54
Slide 55: A Powerful Beauty Brand
1 A POWERFUL BEAUTY BRAND SUPERIOR MARKETING PROGRAMS DESIGN CENTRIC HIGH PERFORMANCE PRODUCTS 55
Slide 56: Beauty Performance
PERFORMANCE QUALITY SAFETY INNOVATION EVOLUS= EFFICACY PERFORMANCE BEAUTY BEAUTY ACCESSIBLE BEAUTY EXPERIENCE CREATIVE EXPRESSION SUPERIOR MARKETING PROGRAMS DESIGN CENTRIC HIGH PERFORMANCE PRODUCTS 56
Slide 57: To Make Their Beauty Experience Delightful and Achievable
TO MAKE THEIR BEAUTY EXPERIENCE DELIGHTFUL AND ACHIEVABLE SUPERIOR MARKETING PROGRAMS DESIGN CENTRIC HIGH PERFORMANCE PRODUCTS 57
Slide 58: Capturing Beauty Industry Recognition
CAPTURING BEAUTY INDUSTRY RECOGNITION Engagement with Evolus • Of all the speaking segments on Day 2 of the summit, Evolus’ “In late August, David Moatazedi, “Shaping the Aesthetics of president and CEO of Evolus, set out “Performance beauty company Evolus Tomorrow” discussion was top 2 to move the
Slide 59: Capturing Beauty Industry Recognition
CAPTURING BEAUTY INDUSTRY RECOGNITION “Look for fast-acting, long- lasting results. Not all neurotoxins are the same. Some neurotoxins take longer to kick in than others. Jeuveau® is a “brand name to About 50% of patients know” for “smoothing vertical lines treated with Jeuveau® start between the br
Slide 60: Design Centric
DESIGN CENTRIC 60
Slide 61: Design Centric: House of Brands
— : House of Brands DESIGN CENTRIC
Slide 62: Design Centric
INVESTOR YO9.12.24 © DESIGN CENTRIC Jeuveau' 6 prabotulinumtoxinA-xvfsinjection “‘cyevows Nucelva’ a6 prabotulinumtoxinA Injection tyerous EVOLYSSe” Bé
Slide 63: Design Centric
INVESTOR DAY‘ DESIGN CENTRIC
Slide 64: a AS MW, LOUIS VUITTON
a AS MW, LOUIS VUITTON prey
Slide 65: Design Centric
DESIGN CENTRIC
Slide 66: Premium, High-Quality Products
1 2 PREMIUM, HIGH-QUALITY PRODUCTS HIGH PERFORMANCE PRODUCTS 66
Slide 67: Precision Enabled
= PRECISION ENABLED HIGH PERFORMANCE PRODUCTS 67
Slide 68: Consumers Who Use Jeuveau Report High Satisfaction
CONSUMERS WHO USE JEUVEAU REPORT HIGH SATISFACTION 91% Source:Consumer Pulse (n=753). Question: Please rate your overall satisfaction with Jeuveau neurotoxin treatment. Please rate on. A scale from 1 to 5, where 1 is “Not at all satisfied” and 5 is “Extremely satisfied”. HIGH PERFORMANCE PRODUCTS 68
Slide 69: Highly Likely to Recommend Jeuveau to Friends and Family
HIGHLY LIKELY TO RECOMMEND JEUVEAU TO FRIENDS AND FAMILY 90% Source:Consumer Pulse (n=753). How likely are you to recommend Jeuveau to a friend or family member? Please rate on a scale from 1 to 5, where 1 is ”Not at all likely” and 5 is “Extremely likely”. HIGH PERFORMANCE PRODUCTS 69
Slide 70: Driving Jeuveau Awareness
DRIVING JEUVEAU AWARENESS IN JUST 5 YEARS, JEUVEAU ACHIEVED 2nd HIGHEST CONSUMER AWARENESS IN THE CATEGORY Source: OnePulse, Consumers (n=500). Questions: “Which of the following injectable neurotoxins have you heard of historically (select all that apply)” and “Which of the following best describes
Slide 71: Deep Understanding of Our Consumer
1 3 DEEP UNDERSTANDING OF OUR CONSUMER SUPERIOR MARKETING PROGRAMS 71
Slide 72: Millennials Are the Now
MILLENNIALS ARE THE NOW SUPERIOR MARKETING PROGRAMS 72
Slide 73: Millennials Are Now the Largest Generation
MILLENNIALS (AGES 28-43) ARE NOW THE LARGEST GENERATION 72M Source: Statista – Resident Population in The United States in 2022, By Generation, Accessed June 2023 SUPERIOR MARKETING PROGRAMS 73
Slide 74: Projected Adoption Among the Younger Age Demographic
INTENT TO USE NEUROMODULATORS IN NEXT 5 YEARS PROJECTED ADOPTION AMONG THE YOUNGER AGE DEMOGRAPHIC: < 40 16% 10.5 AT LEAST 2X % AS LIKELY AS THE AGE OLDER DEMOGRAPHIC 40-50 12% Source: From Extreme to Mainstream: The Future of Aesthetics Injectables. McKinsey & Company, Dec. 2021 AGE 50+ 6% SUPERIOR
Slide 75: Consumers Are…
MILLENNIAL CONSUMERS ARE… • Savvy and appreciate quality • Digital natives • Focused on self care • Connected on social media • In search of experience SUPERIOR MARKETING PROGRAMS 75
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Slide 78: Engaging Social Content
ENGAGING SOCIAL CONTENT INVESTOR DAY‘ eVOLUS
Slide 79: Influencer Activations
INFLUENCER ACTIVATIONS NASHVILLE PRIVATE TREATMENT EXPERIENCE MIAMI INFLUENCER EVENT @LOPEZJENNYLOPEZ @SABINA 4 0 3K FO LLO W E RS FI RE CO UNT RY AC TRE S S 1 5 8K FO LLO W E RS @ALEXANDRA_HARPER S E LLIN G THE O C CA ST 6 0 .3 K FO LL O WE RS @MORGANLEIGHWILLET O FF THE RA ILS W ITH MO RG AN P O D
Slide 80: Iconic Experiential Events
ICONIC EXPERIENTIAL EVENTS SUPERIOR MARKETING PROGRAMS 80
Slide 81: Evolus Value Proposition
1 4 EVOLUS VALUE PROPOSITION SUPERIOR MARKETING PROGRAMS 81
Slide 82: Co-Branded Marketing, Consumer Loyalty, Practice Profitability
WHAT IS CO-BRANDED MEDIA CONSUMER PRACTICE MARKETING LOYALTY PROFITABILITY Media mix tailored for our A consumer rewards program Transparent pricing with customers to target and designed to increase retention. instant upgrades. engage millennials. SUPERIOR MARKETING PROGRAMS 82
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Slide 84: Instant Easy Co-Branded
INSTANT EASY CO-BRANDED Nice work! Your specialist should now be providing you with a $40 discount on your treatment today. Here is your $40 discount for next visit (valid 3/1/2021 to 6/1/2021) SUPERIOR MARKETING PROGRAMS 84
Slide 85: Consumer Registration Continues to Increase
CONSUMER REGISTRATION CONTINUES TO INCREASE* CONSUMER ACTIVATIONS IN THE 860K 942K EVOLUS REWARDS PROGRAM 702K 781K CONTINUE TO GROW 638K 509K 288K 122K DEC 2020 DEC 2021 DEC 2022 JUN 2023 SEPT 2023 DEC 2023 MAR 2024 JUN 2024 * Cumulative measures * Cumulative measures SUPERIOR MARKETING PROGRAMS 85
Slide 86: Evolysse Unlocks Injectable Market
1 5 EVOLYSSE UNLOCKS INJECTABLE MARKET HIGH PERFORMANCE PRODUCTS 86
Slide 87: Launch in the Next 12 Months
LAUNCH IN THE NEXT 12 MONTHS HIGH PERFORMANCE PRODUCTS 87
Slide 88: Product Line
2026 | LAUNCH PRODUCT LINE EXPECTED APPROVAL & LAUNCH IN THE NEXT 12 MONTHS 2027 & BEYOND | LAUNCH HIGH PERFORMANCE PRODUCTS 88
Slide 89: Customer Synergies
CUSTOMER SYNERGIES: CURRENT CUSTOMERS ARE READY FOR AN EVOLUS FILLER JEUVEAU CUSTOMERS WILLINGNESS TO TRY A FILLER 85% PRODUCT BY EVOLUS 1% 99% WILLING TO TRY A FILLER (N=311) OF AESTHETIC PRACTICES OFFER BOTH TOXINS AND FILLERS Source: 2024 Filler Market Research Source: 10-13-1023 Wave 3 A&U YES N
Slide 90: 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 91: Investigators See Broad Usage of Form and Smooth
INVESTIGATORS SEE BROAD USAGE OF FORM AND SMOOTH FORM + SMOOTH = 95% OF HA PROCEDURES HIGH PERFORMANCE PRODUCTS 91
Slide 92: Harnessing the Power of Our Proven Programs to Fuel Future Growth
CUSTOMER EXPERIENCE HARNESSING THE POWER OF OUR PROVEN PROGRAMS TO FUEL FUTURE GROWTH CONSUMER EXPERIENCE 92
Slide 93: Senior Vice President, Sales
Bi He SENIOR VICE PRESIDENT, SALES
Slide 94: Customer Panel
CUSTOMER PANEL GABBY GARRITANO DR. MURTUZA TAMEEM DR. LESLEY RABACH DR. ELAINE KUNG OWNER/INJECTOR, OWNER/INJECTOR, FACIAL PLASTIC SURGEON, DERMATOLOGIST, FUTURE JECT HELLO HYDRATION LM MEDICAL BRIGHT DERMATOLOGY NEW YORK/LA/MIAMI NEW JERSEY NEW YORK, NY NEW YORK, NY 94
Slide 95: Ject
BUS WRAP BILLBOARD JECT POST CARD MAILER KIOSK 95
Slide 96: Hello Hydration
HELLO HYDRATION EVOLUS STREAMING TV COMMERCIAL PAID SOCIAL CREATIVE 96
Slide 97: LM Medical
EVOLUS STREAMING TV COMMERCIAL PAID SOCIAL CAROUSEL AD LM MEDICAL URBAN AND SUBWAY PANELS BILLBOARDS 97
Slide 98: Dr. Elaine Kung
DR. ELAINE KUNG PAID SOCIAL CAROUSEL EVOLUS STREAMING TV COMMERCIAL BILLBOARD 98
Slide 99: Innovation
ONT NOVATION INVESTOR DAY‘
Slide 100: Evolus Experience
reteance ny Ma Evolus Experience o- Cash Pay Proven Business Sci Model icience High Performance Products Experience Innovation Digital Focused Platforms BAYES
Slide 101: Bridging Consumers, Providers & Products Through Digital Experiences
BRIDGING CONSUMERS, PROVIDERS & PRODUCTS THROUGH VALUABLE, FRICTIONLESS, DIGITAL EXPERIENCES 101
Slide 102: Grow My Practice with Evolux
PURCHASE PRODUCTS PRICING & BENEFITS CO-BRANDED MEDIA GROW MY BUILD PRACTICE AWARENESS & WITH EVOLUX DRIVE DEMAND CONSUMER LOYALTY SHOPPING WITH EVOLUS MADE EASY DASHBOARDS & METRICS MEASURE WHAT SEE THEM, MATTERS FOR REDEEM THEM, MY PRACTICE ENJOY THEM INNOVATION FOCUSED DIGITAL PLATFORMS 102
Slide 103: Ordering Made Easy
ORDERING MADE EASY. SEAMLESS ORDERING, SHIPPING, & PAYMENTS INNOVATION FOCUSED DIGITAL PLATFORMS 103
Slide 104: Evolus Customer App Usage
EVOLUS CUSTOMER APP USAGE CUMULATIVE CUSTOMER LOGINS FROM 2019 TO 2024 2.2M 0.2M 2020 2021 2022 2023 2024 INNOVATION FOCUSED DIGITAL PLATFORMS 104
Slide 105: Over 16,000 App Users and Growing
OVER 16,000 APP USERS AND GROWING INNOVATION FOCUSED DIGITAL PLATFORMS 105
Slide 106: Modern Loyalty Program
MODERN LOYALTY PROGRAM PRICING TRANSPARENCY IT’S MORE THAN PRICING, IT’S BENEFITS TO GROW PRACTICE INNOVATION FOCUSED DIGITAL PLATFORMS CONFIDENTIAL. EVOLUS INTERNAL USE ONLY. 106
Slide 107: Benefits to Grow Your Practice
BENEFITS TO GROW YOUR PRACTICE BY GROW TOGETHER | HYPER FOCUSED | CUSTOMIZATION = CO-BRANDED MARKETING FIND A SPECIALIST EVOLUS SOCIAL ASSET LIBRARY URBAN AD PANELS PAID SOCIAL ADS ETV PANELS BILLBOARDS ETV COMMERCIALS INNOVATION FOCUSED DIGITAL PLATFORMS 107
Slide 108: Precise Omnichannel Marketing
PRECISE OMNICHANNEL MARKETING OUR DIGITAL PLATFORM DELIVERS GEO-TARGETED AND CO-BRANDED ADVERTISING CAMPAIGNS TO DRIVE PRACTICE GROWTH INNOVATION FOCUSED DIGITAL PLATFORMS 108
Slide 109: Our Campaigns Have Scaled
OUR CAMPAIGNS HAVE SCALED DRIVING NATIONAL AWARENESS vous OVER MEDIA CUSTOMIZED IMPRESSIONS CAMPAIGNS Jeuveau’ DESIGNATED prabotulinumtoxinA-xvfs injection “‘wyevous MARKET AREAS #2 BRAND IN US AWARENESS | DAY' INNOVATION FOCUSED © DIGITAL PLATFORMS
Slide 110: Patient Loyalty Made Easy
PATIENT LOYALTY MADE EASY INNOVATION FOCUSED DIGITAL PLATFORMS 110
Slide 111: The Fastest Growing Patient Loyalty Program
THE FASTEST GROWING PATIENT LOYALTY PROGRAM INSTANT EASY & FUN INFLUENTIAL INNOVATION FOCUSED DIGITAL PLATFORMS 111
Slide 112: Consumer & Rewards
CONSUMER & REWARDS CUMULATIVE CONSUMER GROWTH FROM 2019 to 2024 APPROACHING 1M 781k 509k 288k 120k DEC 2020 DEC 2021 DEC 2022 DEC 2023 2024 INNOVATION FOCUSED DIGITAL PLATFORMS 112
Slide 113: Accounts, App Store Rating, Nearly 1M Consumers
14,000 ACCOUNTS OUT OF 5 APP STORE RATING NEARLY 1M CONSUMERS 113
Slide 114: What's Next?
WHAT’S NEXT? INNOVATE WITH EXPERIENCES • INCREASE ACCESS • UNLOCK NEW VALUES • ELIMINATE FRICTION INNOVATION FOCUSED DIGITAL PLATFORMS 114
Slide 115: Introducing the First-of-Its-Kind Patient Membership Program
INTRODUCING THE FIRST-OF-ITS-KIND PATIENT MEMBERSHIP PROGRAM INNOVATION FOCUSED DIGITAL PLATFORMS 115
Slide 116: Opportunity for All Parties
OPPORTUNITY FOR ALL PARTIES INCREASE ACCESS, UNLOCK NEW VALUES & ELIMINATE FRICTION FOR PATIENTS FOR PRACTICES FOR US $ AFFORDABILITY MORE SAVINGS & PRICE TRANSPARENCY 2X FREQUENCY MORE TREATMENTS INDUSTRY AVG PER YEAR PER PATIENT 2X MORE LIKELY TO REORDER CUSTOMER RETENTION CONSUMER RETENTION = CUS
Slide 117: A New Way to Grow, A New Way to Unlock Exclusive Benefits
A NEW WAY TO GROW A NEW WAY TO UNLOCK EXCLUSIVE 2.0 BENEFITS INNOVATION FOCUSED DIGITAL PLATFORMS 117
Slide 118: Launching Optimized Digital Experience for Portfolio Expansion
LAUNCHING OPTIMIZED DIGITAL EXPERIENCE FOR PORTFOLIO EXPANSION INNOVATION FOCUSED DIGITAL PLATFORMS 118
Slide 119: Evolus International Expansion
EVOLUS INTERNATIONAL EXPANSION EVOLUS ECOSYSTEM BUILT TO EASILY SCALE ACROSS MULTIPLE COUNTRIES INNOVATION FOCUSED DIGITAL PLATFORMS 119
Slide 120: Ready to Scale Performance Beauty Opportunity
READY TO SCALE PERFORMANCE BEAUTY OPPORTUNITY INCREASE ACCESS, UNLOCK NEW VALUES & ELIMINATE FRICTION GROW PERFORMANCE BEAUTY | 30K ACCOUNTS | 30M CONSIDERERS INCREASE ACCESS INCREASE VALUE TO PRACTICE MORE CHOICES LESS FRICTION INNOVATION FOCUSED DIGITAL PLATFORMS 120
Slide 121: Investor Day
INVESTOI DAY039.12. A 8
Slide 122: Evolus Experience
Cash Pay Business Model Innovation Focused ‘erOus Evolus Experience Proven Science High Performance Products Superior Marketing Programs Digital Platforms a2
Slide 123: Financials: Proven Execution and Financial Results
PROVEN EXECUTION AND FINANCIAL RESULTS CLEAR PATH TO AT LEAST $700M OF REVENUE BY 2028 FINANCIALS: PROFITABLE1 FOR FULL YEAR MULTIPLE WAYS TO WIN 2025 WITH CONTINUED MARGIN EXPANSION TO AT LEAST 20% BY 2028 FULLY FUNDED 1.“Profitability” is defined as achieving positive non-GAAP operating income. Pl
Slide 124: Strong Historical Revenue Growth
STRONG HISTORICAL REVENUE GROWTH VASTLY OUTPACING MARKET GROWTH RATE FOR 5 CONSECUTIVE YEARS $260M- $270M1 $202M $148.6M $99.7M $56.5M $35M 2019 2020 2021 2022 2023 2024 4% 7% 7% 9% 11% 13%2 MARKET 1. 2. Company guidance as of July 31, 2024 Based on YTD number SHARE3 3. Market share (U.S.) is unit s
Slide 125: Revenue Growth Outpacing Operating Expenses by >4x
REVENUE GROWTH OUTPACING OPERATING EXPENSES BY >4x CAGR ‘19-’24 $270M 50% $202M $149M $164M $190M 12% $105M $138M $92M $108M $57M $100M REVENUE $35M NON-GAAP OPERATING EXPENSE1 2019 2020 2021 2022 2023 2024 -232% -96% -49% -30% -12% NON-GAAP OPERATING MARGIN1 1. Please refer to "non-GAAP information
Slide 126: Guidance Consistently Met or Beat
GUIDANCE CONSISTENTLY MET OR BEAT OVER THE PREVIOUS TWO YEARS 2022 2023 2024 GROSS MARGIN (ADJ.) 68% 70% 71% 58% 61% 62% 68% 71% NET SALES (IN MILLIONS) 143 149 150 180 1901 202 255 2604 2653 2704 OPEX (NON-GAAP) (IN MILLIONS) 135 138 140 160 164 1652 185 190 1. Reflects original guidance in 2023 2.
Slide 127: Expanding and Growing Global Market
EXPANDING AND GROWING GLOBAL MARKET GROWING TO $10B IN 2028 ~$10.0B FILLERS $4.0B NEUROTOXINS $6.0B $2.5B $3.7B $1.8B $6.0B $3.5B $1.9B 2019 2023 2028 13% 10% CAGR CAGR Sources: Medical Insight, Inc.: The Global Aesthetic Market Study—January 2024 (US) Clarivate | DRG: Aesthetic Injectables Market I
Slide 128: Commercial Launch of OUS Markets
COMMERCIAL LAUNCH OF OUS MARKETS EXPECTING $100M OF REVENUE BY 2028 CANADA EU FILLER UK GERMANY ITALY SPAIN AUSTRALIA LAUNCH LICENSE Q4 Q4 Q2 Q3 Q4 Q2 Q3 2019 2022 2023 2023 20231 2024 2024 1 Reflects the addition of the dermal filler in Europe in the countries already launched. CASH PAY BUSINESS MO
Slide 129: Operating in Total Addressable Market
OPERATING IN TOTAL ADDRESSABLE MARKET TO DELIVER 2028 REVENUE EVOLUS OUS 2028 REVENUE TARGET: $0.3B $100M $0.3B LAUNCHED $0.2B ~$3.0 B NOT LAUNCHED $0.5B $0.2B $0.2B $0.2B $1.8B $0.3B $2.4B 1 $1.5B 1 Estyme is for Europe only 2 Do not have commercial rights in gray areas on map Sources: 2023 2028 Cl
Slide 130: Evolus Underrepresented in Growing US Market
EVOLUS UNDEREPRESENTED IN GROWING US MARKET TAM REACHING ~$7B IN 2028 $600M REVENUE TAILWINDS ~$7.0B • Underpenetrated in Accounts o Currently in 14k of 30k total FILLERS accounts $2.5B NEUROTOXINS • Continued adoption of procedures $4.2B by Millennials and Younger o Twice as likely to get treated $
Slide 131: 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 Note: % Share represents Unit Share. Represents net revenue in millions o
Slide 132: 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 14k INFRASTRUCTURE INCLUDING: customer base and Supporting frictionless, • Online growing across 30k efficient experience for • In-person large format potential custome
Slide 133: Operating Margin Expansion to at Least 20% by 2028
NON-GAAP OPERATING MARGIN1 >20% OPERATING MARGIN EXPANSION TO AT -12% LEAST 20% BY 2028 -30% -49% ENABLED BY OPERATING STRUCTURE SYNERGY -96% 2020 2021 2022 2023 2024 2025 2026 2027 2028 1. Please refer to "non-GAAP information" at the end of this presentation for a reconciliation of non -GAAP to th
Slide 134: Operating Cash Generation Fully Funds Debt
OPERATING CASH LONG-TERM DEBT MATURITIES GENERATION FULLY $83M FUNDS DEBT REPAYMENT AT MATURITY • Cash Balance of $93.7 Million as of June $42M 30, 2024 • Profitable in Q2 2024 and Projecting Profitability for Q4 2024 and Full Year 20251 $0 • $125M Debt Facility – Floating interest rate of SOFR + 8.
Slide 135: Capital Allocation Priorities
CAPITAL ALLOCATION PRIORITIES DRIVE PROFITABLE DEBT-PAYDOWN BUSINESS GROWTH DEVELOPMENT EFFICIENTLY EXPANDING REDUCTION/ELIMINATION OF CASE STUDY SYMATESE: OPERATING CAPACITY INTEREST EXPENSE CAPITAL EFFICIENT INTERNAL INVESTMENT LOWERING COST OF CAPITAL MEANINGFUL NET PRESENT DECISIONING RIGOR VALU
Slide 136: A Compelling Investment Opportunity
EVOLUS’ FINANCIAL PROFILE AND RELATIVE MARKET PERFORMANCE MAKE IT A COMPELLING INVESTMENT OPPORTUNITY BEST IN CLASS FINANCIAL PERFORMANCE ATTRACTIVE RELATIVE 2023 PERFORMANCE -2028 2023 TO 2028 REVENUE1 CAGR ADDRESSABLE MARKET GROWING TO ~$10B IN 2028 +$4B 28% EVOLUS REVENUE OUTPACING MARKET 28% BY
Slide 137: Investor Day 09.12.24
INVESTOR DAY09.12.24
Slide 138: Evolus Is Uniquely Positioned for Success
• Proven, high-performance products and high consumer satisfaction • Fast growing market driven by a younger EVOLUS generation who views this as a beauty treatment IS UNIQUELY POSITIONED • Purpose built digital platform FOR SUCCESS IN A LARGE MARKET THAT’S GROWING TO $10B BY 2028 REVENUE OF AT LEAST
Slide 139: Thank You
THANK? INVESTOR DAYO912.24
Slide 140: Q and A
eVOLUS AND
Slide 141: Non-GAAP Information
NON-GAAP INFORMATION Within this presentation, “profitability” is defined as achieving positive non-GAAP operating income. This presentation includes references to adjusted gross profit, adjusted gross profit margin, non-GAAP operating income and non-GAAP operating expenses. "Adjusted gross profit"
Slide 142: Adjusted Gross Margin
ADJUSTED GROSS MARGIN GROSS PROFIT MARGIN TO ADJUSTED GROSS PROFIT MARGIN (IN THOUSANDS, EXCEPT GROSS PROFIT MARGIN AND ADJUSTED FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 GROSS PROFIT MARGIN) TOTAL NET REVENUE 34,925 56,540 99,673 148,616 202,085 PRODUCT COST OF SALES 8,014 18,299 43,534 55,887 61,559
Slide 143: Non-GAAP Operating Margin
NON-GAAP OPERATING MARGIN GAAP TO NON-GAAP RECONCILIATION (OPERATING MARGIN) FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 (IN THOUSANDS, EXCEPT ADJUSTED OPERATING MARGIN) TOTAL NET REVENUE 34,925 56,540 99,673 148,616 202,085 GAAP (LOSS) INCOME FROM OPERATIONS (98,947) (153,068) (44,417) (65,330) (49,233
Slide 144: Non-GAAP Opex
NON-GAAP OPEX GAAP TO NON-GAAP RECONCILIATION (OPERATING EXPENSES) FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 (IN THOUSANDS) GAAP OPERATING EXPENSES 133,872 209,608 144,090 213,946 251,318 ADJUSTMENTS: PRODUCT COST OF SALES (EXCLUDES AMORTIZATION OF INTANGIBLE 8,014 18,299 43,534 55,887 61,559 ASSETS)
Slide 145: Non-GAAP Net Loss
NON-GAAP NET LOSS GAAP TO NON-GAAP RECONCILIATION (LOSS FROM OPERATIONS) FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 (IN THOUSANDS) GAAP (LOSS) INCOME FROM OPERATIONS (98,947) (153,068) (44,417) (65,330) (49,233) GAAP NET (LOSS) INCOME (90,034) (163,013) (46,810) (74,412) (61,685) ADJUSTMENTS: SETTLEMEN