Evolus, Inc. Reports Strong Q3 2024 Growth

Evolus, Inc. ( (EOLS) ) has released its Q3 earnings. Here is a breakdown of the information Evolus, Inc. presented to its investors.

Evolus, Inc. is a global performance beauty company focused on aesthetics, renowned for its flagship product Jeuveau, a neurotoxin dedicated solely to aesthetic purposes. With its innovative digital platforms and customer-centric model, Evolus is expanding its portfolio with injectable hyaluronic acid gels.

Evolus recently reported its financial results for the third quarter of 2024, highlighting a 22% increase in total net revenue, reaching $61.1 million compared to Q3 2023. The company is experiencing significant growth, driven by consumer engagement and innovative product launches, with a notable expansion into the European market.

Key financial highlights include the addition of over 600 new customer accounts, bringing the total to nearly 14,500, and a 70% reorder rate. Evolus Rewards™ loyalty program surpassed one million members, and the company launched Club Evolus™, a subscription-based program. Despite a recorded loss from operations, the company’s strategic growth initiatives and new product launches are set to bolster its market presence.

Evolus has narrowed its full-year 2024 net revenue guidance to between $260 million and $266 million, indicating a year-over-year growth of 29% to 32%. The company is preparing for the U.S. launch of its Evolysse™ injectable HA gels, with FDA approval expected by September 2025, and anticipates reaching $700 million in revenue by 2028.

Looking ahead, Evolus is poised to leverage its existing infrastructure and expand its market presence, with a target operating margin of at least 20% by 2028. The company remains committed to enhancing its aesthetic portfolio and maintaining its upward growth trajectory in the beauty industry.