Evolus Reports 15.5% Revenue Growth to $68.5 Million in Q1 2025

Evolus, Inc. reported its financial results for the first quarter of 2025, revealing a total net revenue of $68.5 million, a 15.5% increase from $59.3 million in the same period last year. The growth was primarily driven by higher sales volumes of its flagship product, Jeuveau®, which accounted for all net revenues during the quarter. The company recorded a gross profit of $46.7 million, resulting in a gross profit margin of 68.1%, slightly down from 68.3% in the prior year. However, Evolus incurred a net loss of $18.9 million, compared to a loss of $13.1 million in the first quarter of 2024, reflecting increased operating expenses.

Operating expenses rose significantly to $61.8 million, up from $49.4 million a year earlier, largely due to a $11.5 million increase in selling, general, and administrative expenses, which were attributed to higher personnel costs associated with commercial activities. Research and development expenses also saw a modest increase, reflecting ongoing investments in the development of new products, including the Evolysse™ line of injectable hyaluronic acid gels. The company has recently launched Evolysse™ Form and Evolysse™ Smooth in the U.S. and anticipates launching additional products in Europe later this year.

Evolus continues to navigate a challenging financial landscape, with an accumulated deficit of $628.3 million as of March 31, 2025. The company reported cash and cash equivalents of $67.9 million, down from $86.9 million at the end of 2024, and used $15.6 million in cash for operating activities during the quarter. The company’s liquidity position remains a focus, as it plans to fund ongoing operations and product launches while managing its debt obligations, including a contingent royalty obligation to Evolus Founders and royalties payable to Medytox.

Strategically, Evolus has made significant strides in expanding its product offerings and market presence. The company has entered into agreements with Symatese Aesthetics for the exclusive distribution of five injectable HA gel products in the U.S. and Europe, with milestone payments tied to regulatory approvals. Evolus is also preparing for the commercial launch of additional Evolysse™ products in the U.S. and Europe, which it expects will contribute to revenue growth in the coming years. The company’s outlook remains cautiously optimistic, with plans to enhance its marketing efforts and expand its customer base in the competitive aesthetic market.