NEWPORT BEACH, Calif. - Evolus, Inc. (NASDAQ: NASDAQ:EOLS), a global performance beauty company, has released preliminary unaudited financial results for the fourth quarter and full-year 2024, indicating significant growth. The company reported a 30% increase in net revenue for Q4 2024, totaling $79.0 million, and a 32% rise for the full year, reaching $266.3 million. These figures align with the top end of Evolus's guidance and mark the fifth consecutive year of exceeding 30% revenue growth. With a current market capitalization of $665.51 million and an impressive gross profit margin of 69.94%, InvestingPro analysis suggests the stock is trading below its Fair Value, presenting a potential opportunity for investors.
Looking ahead, Evolus anticipates a 30% to 33% increase in net revenue for 2025, projecting between $345 million to $355 million. This forecast includes contributions from the upcoming launch of Evolysse™ Form and Evolysse™ Smooth, two injectable hyaluronic acid (HA) gels expected to account for 8-10% of the total revenue for 2025. Non-GAAP operating expenses for the year are estimated to be between $230 million and $240 million. According to InvestingPro, the company maintains a healthy current ratio of 2.47, indicating strong liquidity to support its expansion plans. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report, available for over 1,400 US stocks.
Evolus's growth trajectory is further highlighted by an increase in accounts purchasing its flagship product, Jeuveau®, with approximately 830 new accounts in Q4 2024, and over 2,900 new accounts throughout the year. The company's consumer loyalty program, Evolus Rewards, also saw a 40% growth in enrollment, ending the year with roughly 1.1 million consumers.
The company has also announced that it expects U.S. Food and Drug Administration (FDA) approval for Evolysse™ Form and Evolysse™ Smooth within the next 90 days, with a U.S. launch planned for Q2 2025, a quarter ahead of the previous schedule. This approval is anticipated to mark Evolus's transition from a single product company to a multi-product innovator.
Evolus's President and CEO, David Moatazedi, expressed confidence in the company's scalable cash-pay model, customer engagement, and infrastructure, positioning Evolus for continued success and a leadership role in performance beauty.
The company's cash and cash equivalents stood at $87.0 million as of December 31, 2024, an increase from $85.0 million on September 30, 2024, reflecting strong sales growth and prudent expense management. Evolus expects to achieve positive non-GAAP operating income for the full year 2025, with profitability concentrated in Q4 2025.
This report is based on a press release statement, and the information is subject to change until the audit of the company's 2024 financial results is completed.
In other recent news, Evolus, Inc. hosted its third quarter 2024 earnings conference call, offering a detailed report on the company's financial health and operational progress. The call was led by Vice President and Head of Global Investor Relations Nareg Sagherian, with insights from President and CEO David Moatazedi, Chief Medical (TASE:PMCN) Officer Rui Avelar, and CFO Sandra Beaver. The company discussed forward-looking statements, noting potential differences in actual results due to various risks and uncertainties. Non-GAAP financial measures were also presented alongside GAAP results, with a reconciliation provided in the earnings release. This information is publicly available on both Evolus' and the SEC's websites. These developments are part of the company's recent activities, providing investors with a glimpse into Evolus' financial position and future expectations. Despite the optimistic outlook, Evolus cautioned that actual results may differ from projections due to identified risks and uncertainties.
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