37 slides from Evolus, Inc. Common Stock's earnings presentation, Aug 2, 2023
Slide 1: Investor Presentation August 2023
INVESTOR PRESENTATION AUGUST 2023 AUGUST 2023
Slide 2: Special Note Regarding Forward-Looking Statements
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements as defined under the Private Securities Litigation Reform All written and verbal forward-looking statements attributable to our Company or any person acting on our Act of 1995. All statements othe
Slide 3: Our Purpose
OUR PURPOSE TO MAKE ee BEAUTY EXPERIENCE DELIGHTFULAND ACHIEVABLE
Slide 4: Company Highlights
COMPANY STRONG HISTORICAL REVENUE GROWTH HIGHLIGHTS Targeting $700M in global sales by 2028, a 29% CAGR +49% • A growing presence in the Top 2 medical aesthetics market segments1 • Gaining market share in the ~$2.3B U.S. toxin market +76% while expanding internationally • Introducing a broad product
Slide 5: Business Strategy
STRATEGIC CUSTOMER SUCCESS ADVANTAGE • Investing in customer growth First Cash-Pay, Aesthetics- • Only aesthetics company to Only Aesthetics Company offer co-branded marketing TRANSFORMING CHALLENGER THE INDUSTRY BRAND Beauty Treatment vs. Medical Digitally Savvy: a powerful, cost- Procedure effecti
Slide 6: Growing Our Presence in Large & Underpenetrated Markets
GROWING OUR PRESENCE IN LARGE & UNDERPENETRATED MARKETS Evolus is Continuing to Gain Share The Addition of Fillers in the Fast-Growing Neurotoxin Market Expands Our Addressable Market by 70%2 $8.7B $3.0B 10% CAGR $4.8B $5.7B $1.6B $3.2B Fillers 1 Neurotoxins 1. Evolysse is licensed in the U.S. only
Slide 7: Toxins and Fillers Are the Top Medical Aesthetic Procedures
TOXINS AND FILLERS ARE THE TOP 2 MEDICAL AESTHETIC PROCEDURES 1 FILLERS ARE THE #2 SERVICE PROVIDED FILLERS ARE THE #1 ADD-ON PROCEDURE ACROSS ALL CHANNELS1 FOR TOXIN USERS1 1 2 Filler 34% PLASTIC TOXINS FILLERS SURGEONS: Skincare 21% DERMATOLOGISTS: TOXINS FILLERS Laser Hair Removal 21% MED SPAS: T
Slide 8: Younger Demographic Is 2X as Likely to Adopt Injectables
ESTIMATED GLOBAL AVERAGE ADOPTION % PROJECTED ADOPTION LADDER FOR INJECTABLES1 AMONG THE YOUNGER $50K-$100K INCOME >$100K DEMOGRAPHIC 20-30 10 17 11 15 IS 2X AS LIKELY AS THE OLDER DEMOGRAPHIC 16% average 31-40 13 17 17 14 AGE 41-50 10 12 11 11 51-60 4 9 5 9 8% average >60 1 3 3 5 % Using neuromodul
Slide 9: Jeuveau Science & Clinical Overview
Jeuveau® Science & Clinical Overview
Slide 10: Designed with Precision
® DESIGNED WITH PRECISION 900 KDA 0.5 MG 0.9 MG PRABOTULINUMTOXINA HUMAN SERUM ALBUMIN SALT LOW RATES OF EYELID PTOSIS WITH JEUVEAU®2 Drug-related eyelid Drug-related eyelid ptosis (EV-001)3 ptosis (EV-002)4 Purification Method: Crystallization and HiPureTM technology Jeuveau® 1% (2/246) 1% (3/246)
Slide 11: Designed to Compete Clinically with the Market Leader
DESIGNED TO COMPETE Primary Endpoint: Non-inferiority CLINICALLY WITH THE Responder Rate Day 30 MARKET LEADER SAFETY PROFILE – ADVERSE EVENTS European & Canadian Phase III Study PLACEBO BOTOX® JEUVEAU® 87.2% 87.2% 82.8% All AEs 32.7% 41.9% 37.6% Related AEs 4.1% 14.6% 15.5% Drug related Other AEs of
Slide 12: Clinically Proven: Phase III Head-to-Head Study
CLINICALLY PROVEN >1-point (%) improvement on the GLS at maximum frown by investigator assessment by visit JEUVEAU® WAS 95.7 95.1 95.3 93.9 Jeuveau® THE FIRST BRAND Botox® TO CONDUCT A 76.7 73.9 PHASE III 1 54.5 57.4 57.8 51.5 HEAD-TO-HEAD 37.9 34.3 STUDY VS. THE MARKET LEADER 2 Days 14 Days 30 Days
Slide 13: Jeuveau Is Highly Effective for Millennials
JEUVEAU IS ® >1-point (%) improvement on the GLS at maximum HIGHLY EFFECTIVE frown by investigator assessment by visit FOR MILLENNIALS 100 p=0.038 100 p=0.064 94.8 100 p=0.063 95.0 Millennials Non-millennials Pooled Phase III Post Hoc Analysis1 100 90.2 100 100 p=0.005 90.8 94.8 95.0 90.2 90.8 Study
Slide 14: Evolysse, an Innovative Technology That Complements the Jeuveau Brand
™ EVOLYSSE , AN INNOVATIVE TECHNOLOGY THAT COMPLEMENTS THE JEUVEAU BRAND ® AUGUST 2023 14
Slide 15: Highlights
HIGHLIGHTS A HIGHLY COMPETITIVE FILLER LINE • Evolysse™ - a first-generation cold technology Hyaluronic Acid line • 5 fillers in late-stage clinical development • Indications including mid face, nasolabial folds, lips and eyes • In partnership with Symatese, developer of the latest generation of Res
Slide 16: Symatese Science Genesis
IQEVOUS dd SYMATESE SCIENCE GENESIS 25+ YEARS IN R&D AND MANUFACTURING OF AESTHETICS & MEDICAL BIOMATERIALS <> MENTOR PEROUSE PLASTIE BREAST IMPLANTS. SOLD TO MENTOR LAUNCHED FIRST 2 PRODUCTS: HEMOTESE® & COLLAPAT®II LAUNCH OF NEVELIA®, DERMAL REGENERATION MATRIX SOLD RIGHTS OF XpresHAn R&D PARTNERS
Slide 17: Evolysse Manufacturing
EVOLYSSE MANUFACTURING ™ FIRST-GENERATION COLD TECHNOLOGY HA BY SYMATESE CROSS-LINKING HA Typical cross-linking: At warm temperature Symatese cross-linking: At low temperature BENEFIT • Cross-linking technology that better preserves the hyaluronic acid chain designed for dynamic performance and effi
Slide 18: Evolysse Product Line
EVOLYSSE ™ 2026 | LAUNCH PRODUCT LINE 2025 2025 | LAUNCH | LAUNCH DATE 2027 | LAUNCH AUGUST 2023 18
Slide 19: Jeuveau Extra-Strength
Jeuveau® Extra-Strength LONGER DURATION PHASE II STUDY FIRST INTERIM ANALYSIS
Slide 20: Evolus Is Uniquely Positioned to Capitalize on Jeuveau Extra-Strength
EVOLUS IS UNIQUELY POSITIONED TO CAPITALIZE ON JEUVEAU “EXTRA-STRENGTH” ® “ORIGINAL” STUDY DESIGN Jeuveau® 20U Dose / 0.5mL Concentration Three arms: • Double blind, single treatment, • 20U Botox® Cosmetic “EXTRA-STRENGTH” randomized, controlled, prospective, multi-center • 20U Jeuveau® Jeuveau® 40U
Slide 21: Safety
Safety ADVERSE EVENTS Adverse Event Summary Jeuveau® ES 40U N=51 Botox® 20U N=50 Jeuveau® 20U N=53 # EVENTS (N=33) ADVERSE EVENT SEVERITY All Adverse Events 6 (18.2%) 11 (33.3%) 16 (48.5%) • Number of AE’s, 33 events • Mild: 88% Drug Related Adverse Events 3 2 3 • Moderate: 12% # SUBJECTS WITH AEs (
Slide 22: Return of Glabellar Line Scale Score Back to Baseline
Duration GLS BACK TO BASELINE Percentage of Patients (%) Jeuveau® ES 40U RETURN OF GLABELLAR • 183 days, 26.1 weeks, 6.0 months LINE SCALE SCORE BACK Jeuveau® 20U TO BASELINE • 151 days, 21.6 weeks, 5.0 months Botox® 20U • 148 days, 21.1 weeks, 4.9 months Investigator assessment Days From Treatment
Slide 23: Glabellar Line Scale Responders Duration
Duration >1 PT IMPROVEMENT GLS Percentage of Patients (%) Jeuveau® ES 40U >1 PT OR GREATER • 183 days, 26.1 weeks, 6.0 months GLABELLAR LINE SCALE Jeuveau® 20U RESPONDERS DURATION • 151 days, 21.6 weeks, 5.0 months Botox® 20U Investigator assessment • 148 days, 21.1 weeks, 4.9 months Days From Treat
Slide 24: Global Aesthetic Improvement Scale Back to Baseline
Duration GLOBAL AESTHETIC IMPROVEMENT Percentage of Patients (%) Jeuveau® ES 40U GLOBAL AESTHETIC • 184 days, 26.3 weeks, 6.0 months IMPROVEMENT SCALE BACK Jeuveau® 20U TO BASELINE • 151 days, 21.6 weeks, 5.0 months Botox® 20U Investigator assessment • 148 days, 21.1 weeks, 4.9 months Days From Trea
Slide 25: Business Strategy
Business Strategy
Slide 26: Differentiated Cash Pay Business Model
DIFFERENTIATED Cash Pay BUSINESS MODEL WHY CASH PAY • Avoid 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 propo
Slide 27: Digital Investments Benefit Both the Practice & the Consumer
PRACTICE EVOLUX: EVOLUS MODERN LOYALTY DIGITAL PRACTICE APP INVESTMENTS BENEFIT BOTH THE PRACTICE & THE CONSUMER CONSUMER • Digital investments for practices lead to increased customer PHYSICIAN LOYALTY PROGRAM FINDER SIGN UP loyalty. Aesthetics • Digital investments into targeted REWARDS Dermatolog
Slide 28: Consumer Registration and Evolus Rewards Redemptions Growth
Consumer Registration Continues to Consumer Redemptions in the Evolus Rewards Increase1 1200 Program Continues to Grow1 46% 44% >638,000 42% 1,086 1000 40% 38% >505,000 938 35% 800 32% 799 27% 672 600 23% 570 >270,000 400 474 383 >120,000 287 226 200 >1,100 0 May 2020 Dec 2020 Dec 2021 Dec 2022 Jun
Slide 29: Personal Experience: Co-Branded Marketing
Personal EXPERIENCE CO-BRANDED MARKETING FOR A PERSON 1,400+ 6,900+ 340+ BILLBOARDS1 DIGITAL CAMPAIGNS1 ETV CAMPAIGNS1 1. Reflects campaigns completed and aired since 2020 AUGUST 2023 29 18
Slide 30: Using Medical Education to Establish the Precision Profile of Jeuveau
USING MEDICAL EDUCATION TO ESTABLISH THE PRECISION PROFILE OF JEUVEAU® 10,000+ injectors Medical 2023 Live events educated in 2022 affairs team Training bus AUGUST 2023 30
Slide 31: Financials
Financials
Slide 32: Jeuveau: The Fastest-Growing Neurotoxin in the U.S. for Two Consecutive Years
JEUVEAU : THE FASTEST- ® NET REVENUE GROWING NEUROTOXIN IN +49% THE U.S. FOR TWO CONSECUTIVE YEARS 10% MARKET SHARE1 +76% $148.6M #2 BRAND AWARENESS2 +61% $99.7M #1 2 MARKET SHARE $56.5M $35.0M OR IN EVOLUS ACCOUNTS3 2019 2020 2021 2022 1. Company estimates at year end 2022 2. Evolus Consumer Pulse
Slide 33: Q2 2023 Results Demonstrated Continued Market Share Gains and Strong Execution
Q2 2023 RESULTS Q2 NET DEMONSTRATED CONTINUED REVENUE MARKET SHARE GAINS AND +33% STRONG EXECUTION • $49.3M net revenue, up 33% Y-o-Y +42% • Growth driven primarily by higher volumes; U.S. $49.3M pricing remains strong • Raised full-year revenue guidance +234% $37.2M • Key Performance Indicators rea
Slide 34: Projecting $700M Total Net Revenue in 2028, a 29% CAGR
NET REVENUE PROJECTING $700M TOTAL NET REVENUE IN 2028, A 29% CAGR • 2023 total net revenue expected to be $185M-$195M (24% to 31% y-o-y growth) $700M Aspiration • Adjusted gross margin1 of 68% to 71% • Non-GAAP operating expense1 of $153M- $158M • Projecting positive non-GAAP operating Guidance: $1
Slide 35: A Compelling Investment Idea
A COMPELLING INVESTMENT IDEA Building a brand focused on the GAINING MARKET YOUNGER SHARE IN THE U.S. while expanding internationally DEMOGRAPHIC Total addressable market Fully funded to EXPANDS BY 70% PROFITABILITY with addition of HA filler portfolio BY 2025 UNDERPENETRATED UNIQUE BUSINESS AESTHE
Slide 36: Thank You
Thank You www.evolus.com
Slide 37: Non-GAAP Definitions
Within this presentation, “profitability” is defined as achieving positive non-GAAP operating income. This presentation includes references to adjusted gross profit margin, non-GAAP operating income and non-GAAP operating expenses. “Adjusted gross profit margin” is defined as adjusted gross profit a