Evolus Delivers 21% Revenue Jump to $83M in Q2, Sharply Narrows Losses
EOLS sits 69% above its 52-week low of $3.86.
Summary
Evolus reported Q2 2026 revenue of $83.4 million, up 21% year-over-year, with net loss narrowing to $8.1 million from $17.1 million. Cash burn improved dramatically, and the company terminated its unused ATM program.
Key Events · Earnings and Guidance · EOLS
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Revenue Surges 21% to $83.4M
Driven by Jeuveau sales of $74.5 million and Evolysse sales of $8.9 million, total net revenue reached $83.4 million in Q2 2026, up from $69.4 million a year earlier.
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Losses Narrow, Cash Burn Plunges
Net loss improved to $8.1 million from $17.1 million a year ago. Reflecting higher sales and cost discipline, operating cash burn fell to $13.5 million in H1 2026 versus $40.4 million in H1 2025.
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Gross Margin Expands to 68%
Gross margin reached 68.0%, up from 65.3% in Q2 2025, aided by a $1.1 million IEEPA tariff refund that reduced cost of goods sold.
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ATM Program Terminated, No Dilution
On May 1, 2026, the company terminated its $50 million at-the-market equity program, having sold no shares under it, removing a potential dilution overhang.
Analysis · EOLS · Life Sciences
Evolus posted its strongest quarter yet, with revenue surging 21% to $83.4 million, driven by double-digit growth in Jeuveau and the early ramp of Evolysse. The operating loss shrank to $4.5 million from $10.2 million a year ago, and cash burn fell to $13.5 million in the first half—a dramatic improvement from $40.4 million in the same period last year. Gross margins expanded to 68%, helped by a tariff refund. The company terminated its unused ATM program, removing a dilution overhang, and disclosed two subsequent deals that expand its aesthetics portfolio into new geographies. With $45 million in cash and access to $100 million in undrawn debt, Evolus says it has enough liquidity to fund operations for at least the next twelve months. The combination of accelerating revenue, narrowing losses, and a cleaner balance sheet makes this a thesis-strengthening quarter.
At the time of this filing, EOLS was trading at $6.53 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $407M. The 52-week trading range was $3.86 to $9.15. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.