36 slides from Evolus, Inc. Common Stock's earnings presentation, May 4, 2026
Slide 1: Evolus
@CVOLUS in -volus
Slide 2: Investor Presentation May 2026
INVESTOR PRESENTATION MAY 2026 2
Slide 3: Disclosures
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: Performance Beauty
PERFORMANCE QUALITY SAFETY INNOVATION EFFICACY BEAUTY ACCESSIBLE BEAUTY EXPERIENCE CREATIVE EXPRESSION 4
Slide 5: A Compelling Investment Opportunity
A COMPELLING INVESTMENT OPPORTUNITY EVOLYSSE®: POSITIONED FOR UNDERPENETRATED MULTI-YEAR GROWTH AESTHETICS MARKET Launched in U.S. in Q2 2025, to launch in Supports long-term growth Europe in Q2 2026 Cash-pay business model with a MILLENNIALS ANCHORING DEMAND1 DIGITAL FIRST PLATFORM Reshaping aesthe
Slide 6: Differentiated Portfolio Combines Beauty First Toxin With New HA Technology
DIFFERENTIATED PORTFOLIO COMBINES A FAST-GROWING BEAUTY FIRST TOXIN WITH THE FIRST NEW HA TECHNOLOGY IN A DECADE Proven Performance with proven safety in 5 clinical First HA Made with Cold-X® Technology which uses studies and the largest Phase 3 study against near-freezing temperatures designed to p
Slide 7: Large & Underpenetrated Markets
GROWING OUR NEUROTOXIN PRESENCE IN LARGE & UNDERPENETRATED MARKETS EVOLUS IS LAUNCHED IN THE MARKETS WITH THE JEUVEAU® SHARE OF U.S. NEUROTOXIN MARKET BIGGEST OPPORTUNITY OVER THE LAST FEW YEARS* 16% 14% 14% 12% 13% 10% 11% 8% 9% 6% 7% 7% 4% 4% 2% 0% 2019 2020 2021 2022 2023 2024 2025 U.S. Launched
Slide 8: Long Term Global Aesthetic Market Is A Growth Market
LONG TERM GLOBAL AESTHETIC MARKET IS A GROWTH MARKET UNDERLYING DEMAND FOR AESTHETIC PROCEDURES REMAINS RESILIENT WITH DERMAL FILLER MARKET EXPERIENCING CORRECTION FILLERS $6.5B NEUROTOXINS $5.7B $2.2B $3.7B $2.2B $1.8B $4.3B $3.5B $1.9B 2019 2025 2028 7% CAGR 4% CAGR Sources: Medical Insight’s The
Slide 9: Strong Historical Revenue Growth
STRONG HISTORICAL REVENUE GROWTH CONSISTENTLY OUTPACING THE MARKET WITH DOUBLE-DIGIT REVENUE GROWTH FOR SIX CONSECUTIVE YEARS ~40% CAGR $297.2M $266.3M $202.1M $148.6M $99.7M $56.5M 2020 2021 2022 2023 2024 2025 9
Slide 10: A Performance Beauty Platform
STRUCTURAL CUSTOMER ADVANTAGE PARTNERSHIP Cash-pay model Co-branded marketing, enables scale and education, and training profitability aligned to practice economics and commercial success LEADING DIGITAL CONSUMER ECOSYSTEM LOYALTY + Integrated digital platform FREQUENCY that simplifies operations, R
Slide 11: Differentiated Cash Pay Business Model
DIFFERENTIATED CASH PAY BUSINESS MODEL WHY CASH PAY? • Supports value proposition by: o Eliminating third-party reimbursement complexity o Delivering flexible, customer-driven pricing o Enabling scalable co-branded marketing partnerships o Driving consumer demand directly to our customers o Building
Slide 12: Co-Branded Marketing That Empowers Customers
CO-BRANDED MARKETING THAT EMPOWERS CUSTOMERS 400M+ IMPRESSIONS FROM 2025 CAMPAIGNS OUT-OF-HOME ADVERTISING PAID SOCIAL ADS STREAMING TV INFLUENCER CONTENT CREATION 12
Slide 13: A Medical Education Platform That Supports Customers
A MEDICAL EDUCATION PLATFORM THAT SUPPORTS CUSTOMERS IN 2025: LIVE EVENTS EVOLUS ACADEMY MEDICAL AFFAIRS TEAM TRAINING BUS 300+ EDUCATED 6K+ INJECTORS EDUCATED 14K+ INJECTORS 70 CITIES & 55+ CLINIC EVENTS 13
Slide 14: Digital Capabilities Bridging Customer And Consumer Engagement
DIGITAL CAPABILITIES BRIDGING CUSTOMER AND CONSUMER ENGAGEMENT CONNECTS CUSTOMERS Simplifies AND CONSUMERS PURCHASING AND through digital engagement INVENTORY MANAGEMENT PROVIDES DASHBOARDS Activates co-branded media to & METRICS BUILD AWARENESS AND to measure what matters DRIVE DEMAND ENABLES PRICI
Slide 15: Modern Loyalty Program
MODERN LOYALTY PROGRAM Evolux® is Evolus’ portfolio-wide loyalty program that rewards customers for purchasing across Jeuveau® and Evolysse® with transparent pricing benefits and increased co-branded media support based on their total combined spend.
Slide 16: A Digitally Native, Growing Millennial Consumer Base
A DIGITALLY NATIVE, GROWING MILLENNIAL CONSUMER BASE DRIVING LONG TERM DEMAND • More likely to engage through mobile-first experiences • High quality expectations support premium, branded aesthetics • Self-care orientation drives repeat, preventative treatments • Social connectivity accelerates awar
Slide 17: Demand Shifting Toward Millennials And Gen Z
DEMAND SHIFTING TOWARD MILLENNIALS AND GEN Z PROJECTED SHARE OF AESTHETICS PATIENTS BY GENERATION ADOPTION AMONG 4% GEN Z & YOUNGER 10% THE MILLENNIAL & 25% ≥1997 YOUNGER MILLENNIAL 35% DEMOGRAPHIC: 1981- 1996 AT LEAST 2X 40% GEN X AS LIKELY AS THE 1965 - 1980 36% OLDER DEMOGRAPHIC 31% BOOMER & OLDE
Slide 18: Instant Easy Co-Branded
DIGITAL LOYALTY PLATFORM THAT DRIVES NEW CONSUMER STARTS AND REPEAT ENGAGEMENT INSTANT EASY CO-BRANDED t Text Message Today 9:41 AM Nice work! Your specialist should now be providing you with a $40 discount on your treatment today. 18 18
Slide 19: Rewards Engagement Is Scaling With Repeat Usage
REWARDS ENGAGEMENT IS SCALING WITH REPEAT USAGE DRIVING INCREASED CONSUMER LOYALTY EVOLUS REWARDS ENROLLMENTS EXISTING PATIENTS DRIVE A GROWING SHARE OF SURPASSED 1.4 MILLION IN Q1 2026 REWARDS REDEMPTIONS REINFORCING LOYALTY1 4000 70% >1.4M >1.3M 3500 TOTAL CONSUMER REDEMPTIONS (000s) >1.3M 60% EXI
Slide 20: A More Diversified And Scaled Portfolio
A MORE DIVERSIFIED AND SCALED PORTFOLIO EVOLUS HAS EXPANDED FROM A SINGLE-PRODUCT COMPANY INTO A MULTI-PRODUCT AESTHETICS PORTFOLIO, DESIGNED TO DRIVE MULTI-PRODUCT ADOPTION AND SCALABLE GROWTH OVER TIME: • A scaled neurotoxin foundation establishes long-standing customer relationships • Portfolio e
Slide 21: 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 48% PLASTIC TOXINS FILLERS SURGEONS: SKINCARE 18% SKIN DERMATOLOGISTS: TOXINS FILL
Slide 22: Evolysse: An Innovative Technology That Complements The Jeuveau Brand
EVOLYSSE AN INNOVATIVE TECHNOLOGY ® THAT COMPLEMENTS THE JEUVEAU BRAND ® 22
Slide 23: 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 24: First HA Injectable Innovation Breakthrough In A Decade
FIRST HA INJECTABLE INNOVATION BREAKTHROUGH IN A DECADE HYLACROSS® OBT® COLD-X® TECHNOLOGY TECHNOLOGY TECHNOLOGY 1996 2000 2005 2008 2015 2025 NASHA® VYCROSS® PNT® TECHNOLOGY TECHNOLOGY TECHNOLOGY 24 Note: Based on the first regulatory approval date for each technology
Slide 25: Evolysse Manufacturing
EVOLYSSE® MANUFACTURING COLD-X® TECHNOLOGY BY SYMATESE CROSS-LINKING HA CONDITIONS • Typical cross-linking: Heat • Cold-X® cross-linking: Cold DESIGNED TO CREATE A MORE NATURAL INJECTABLE HA GEL • Cross-linking technology o Preserve the hyaluronic acid chain o Decrease fragmentation o Less BDDE is r
Slide 26: Evolysse Versatility
EVOLYSSE® VERSATILITY INDICATIONS • INDICATIONS RECEIVED FDA APPROVAL LAUNCHED IN U.S. Q2 2025 2026 | Q4 APPROVAL (EXPECTED) 2027 | APPROVAL (EXPECTED) 26
Slide 27: Evolysse Milestones
EVOLYSSE® MILESTONES INJECTABLE HA GELS COLLECTION 2024 2025 2026 2027 PRODUCT INDICATION 1H 2H 1H 2H 1H 2H 1H 2H Nasolabial Folds (“NLF”) – FORM U.S. LAUNCH APPROVAL NLF & Smooth Lines – U.S. LAUNCH SMOOTH APPROVAL Evolysse® Mid-Face Volume – SCULPT U.S. APPROVAL (EXPECTED) Lips – LIPS PMA SUBMISSI
Slide 28: Financials
lov 2volus FINANCIALS
Slide 29: Q1 2026 Results
Q1 2026 RESULTS Q1 NET REVENUE DELIVERED SECOND CONSECUTIVE QUARTER OF PROFITABILITY 1 AND REAFFIRMED OUTLOOK $73.1M $68.5M $73.1M NET REVENUE, UP 7% Y-O-Y AGAINST HIGHEST GROWTH QUARTER OF 2025 $59.3M • Continued ramp of Evolysse® • Continued strength in international markets KEY PERFORMANCE INDICA
Slide 30: Double Digit Revenue Growth With A Largely Flat Cost Base Drives Net Revenue
DOUBLE-DIGIT TOTAL REVENUE GROWTH WITH A LARGELY FLAT COST BASE DRIVES NET REVENUE ACCELERATING OPERATING LEVERAGE +10% ─ +13% IN 2026: 10% – 13% PROJECTED DOUBLE DIGIT REVENUE GROWTH MINIMAL ADJUSTED 0% – 3% OPERATING EXPENSE GROWTH LOW – ADJUSTED EBITDA MID-SINGLE MARGIN1 * Based on results announ
Slide 31: Expanding Operating Leverage
EXPANDING OPERATING LEVERAGE • Consistent operating leverage delivered through 2024 • 2025 reflected a planned investment year with the addition of Evolysse®, marking the evolution to a multi-product portfolio • Beginning in 2026, with the portfolio foundation in place, Evolus is positioned to deliv
Slide 32: FY 2026 Outlook
FY 2026 OUTLOOK CONTINUE TO EXPECT: • Total net revenues for 2026 to be between $327 million and $337 million, representing 10% to 13% growth over the prior year. • Non-GAAP operating expenses1 for 2026 to be between $210 million and $216 million, representing a 0% to 3% increase over the prior year
Slide 33: Long-Term Outlook
lov 2volus LONG-TERM OUTLOOK
Slide 34: 2028 Long-Term Outlook Projecting $450M To $500M Total Net Revenue
REFLECTING: • A recalibrated aesthetic market outlook given current market conditions and a more conservative near-term growth environment 2028 LONG-TERM • Strengthened market share, driven by continued outperformance, portfolio expansion, and commercial OUTLOOK PROJECTING execution • International
Slide 35: Thank You
@VOLUS THANK YOU
Slide 36: Non-GAAP Information
NON-GAAP INFORMATION Within this presentation, “profitability” is defined (i) for historical periods as achieving positive non-GAAP operating income and (ii) for forward looking periods as achieving positive adjusted EBITDA. This presentation includes references to non-GAAP operating expenses, non-G