Evolus, Inc.
EOLS · Pharmaceutical Preparations · 65.9M shares · +14%/yr ↑ dilution · EDGAR filings ↗
Reference price $4.75 · est. market cap ~$313M — last insider sale, 2026-03-20 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D53Growing cash-pay aesthetics company with real revenue momentum but persistent losses and a thin cash runway.
Strengths
- Double-digit revenue growth (11.6%) with improving operating margin (~70th pct) and 66% gross margin
- Commercial neurotoxin (Jeuveau) plus expanding Evolysse HA filler portfolio and positive duration Phase 2 data
- Net/operating margins above sector median (~65th/70th pct)
Risks
- Still unprofitable; cash $53.8M with only 4.7 quarters runway (~37th pct)
- Negative-equity ROE (95th pct) is an artifact; Medytox settlement and tariff/discretionary-spend exposure weigh on profitability
- Reliance on single suppliers (Daewoong, Symatese) and need for additional financing
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Negative equityNegative book equity (debt/equity -6.32)
- Net lossNet loss (net margin -17.4%)
- Cash burnNegative free cash flow (-45.7M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +14%/yr over 4y (dilution, book value/share -117%)
- Insider sellingInsider selling — 4 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$796,936, last 6mo) Form 4 ↗
- Revenue declineRevenue -19.0% YoY
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
66.3%
Operating margin
-11.0%
Net margin
-17.4%
Return on equity
223.5%
Return on assets
-22.9%
ROIC
-21.0%
Revenue growth (QoQ)
-19.0%
Debt / equity
-6.3×
Current ratio
1.9×
Free cash flow
-$46M
EBITDA
-$25M
Tangible book value
-$92M
Cash & investments
$54M
Cash runway
5q
Stock comp / revenue
7.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-03-20 | Avelar Rui | Sell | 3.1K | $4.75 |
| 2026-03-20 | MOATAZEDI DAVID | Sell | 14K | $4.75 |
| 2026-03-17 | MOATAZEDI DAVID | Sell | 117K | $4.89 |
| 2026-03-17 | Avelar Rui | Sell | 30K | $4.89 |
| 2026-03-16 | Avelar Rui | Option exercise | 8.8K | — |
| 2026-03-16 | MOATAZEDI DAVID | Option exercise | 67K | — |
| 2026-02-17 | Avelar Rui | Grant | 95K | — |
| 2026-02-17 | GILL DAVID N | Grant | 46K | — |
| 2026-02-17 | White Albert G III | Grant | 46K | — |
| 2026-02-17 | Parschauer Karah Herdman | Grant | 46K | — |
| 2026-02-17 | Stewart Brady | Grant | 46K | — |
| 2026-02-17 | Mitchell Tatjana | Grant | 121K | — |
| 2026-02-17 | MOATAZEDI DAVID | Grant | 313K | — |
| 2026-02-17 | Malik Vikram | Grant | 46K | — |
| 2025-12-22 | MOATAZEDI DAVID | Sell | 11K | $7.15 |
| 2025-12-22 | Avelar Rui | Sell | 2.3K | $7.15 |
| 2025-09-08 | Mitchell Tatjana | Grant | 105K | — |
| 2025-08-22 | Yamagishi-Dressler Tomoko | Sell | 5.7K | $7.51 |
| 2025-08-15 | Stewart Brady | Buy | 30K | $6.82 |
| 2025-06-16 | MOATAZEDI DAVID | Sell | 17K | $9.89 |
| 2025-06-13 | MOATAZEDI DAVID | Sell | 111K | $10.05 |
| 2025-06-09 | White Albert G III | Buy | 20K | $9.45 |
| 2025-05-13 | Beaver Sandra | Sell | 6.5K | $10.02 |
| 2025-05-12 | Avelar Rui | Sell | 3.4K | $9.87 |
| 2025-05-12 | MOATAZEDI DAVID | Sell | 16K | $9.87 |
| 2025-03-27 | MOATAZEDI DAVID | Sell | 6.3K | $12.40 |
| 2025-03-18 | Avelar Rui | Sell | 28K | $13.26 |
| 2025-03-18 | Beaver Sandra | Sell | 9.0K | $13.26 |
| 2025-03-18 | Yamagishi-Dressler Tomoko | Sell | 4.5K | $13.26 |
| 2025-03-18 | MOATAZEDI DAVID | Sell | 103K | $13.26 |
| 2025-03-12 | Parschauer Karah Herdman | Sell | 13K | $12.99 |
| 2025-03-07 | Yamagishi-Dressler Tomoko | Grant | 18K | — |
| 2025-03-07 | Beaver Sandra | Grant | 36K | — |
| 2025-03-07 | MOATAZEDI DAVID | Grant | 95K | — |
| 2025-03-07 | Avelar Rui | Grant | 24K | — |
| 2025-03-07 | BLANK SIMONE | Grant | 7.4K | — |
| 2025-03-07 | GILL DAVID N | Grant | 7.4K | — |
| 2025-03-07 | Stewart Brady | Grant | 7.4K | — |
| 2025-03-07 | White Albert G III | Grant | 7.4K | — |
| 2025-03-07 | Malik Vikram | Grant | 7.4K | — |
| 2025-03-07 | Parschauer Karah Herdman | Grant | 7.4K | — |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT05481931 ↗ | Non Interventional Safety Study of NUCEIVA for the Treatment of Moderate-to-Severe Glabellar Lines Glabellar Frown Lines | — | Completed | 2026-02-04 |
| NCT05320393 ↗ | Study to Demonstrate Safety and Duration of Effect of 40 Units of PrabotulinumtoxinA-xvfs to Treat Glabellar Lines Glabellar Frown Lines | PHASE2 | Completed | 2023-05-22 |
| NCT02428608 ↗ | Safety Study of DWP-450 (Botulinum Toxin, Type a) to Treat Glabellar Lines - EV-006 Glabellar Frown Lines | PHASE2 | Completed | 2016-10-01 |
| NCT02184988 ↗ | Safety Study of DWP-450 (Botulinum Purified Neurotoxin, Type A) Injection to Treat Glabellar Lines Glabellar Frown Lines | PHASE2 | Completed | 2015-12-01 |
| NCT02334423 ↗ | A Phase III Study to Demonstrate the Safety and Efficacy of DWP-450 to Treat Glabellar Lines - EV001 Glabellar Frown Lines | PHASE3 | Completed | 2015-12-01 |
| NCT02334436 ↗ | A Phase III Study to Demonstrate the Safety and Efficacy of DWP-450 to Treat Glabellar Lines - EV-002 Glabellar Frown Lines | PHASE3 | Completed | 2015-09-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-12 | Shareholder vote | filing ↗ |
| 2026-05-04 | ResultsReg FDExhibits | filing ↗ |
| 2026-03-13 | Exec/director change | filing ↗ |
| 2026-03-03 | Material agreementResultsDebt obligationExhibits | filing ↗ |
| 2026-01-09 | ResultsExhibits | filing ↗ |
| 2025-11-05 | ResultsExhibits | filing ↗ |
| 2025-09-08 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-08-05 | ResultsExec/director changeExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-12 | 2026-06-11 | 0001570562-26-000076 ↗ |
| 8-K | 2026-05-04 | 2026-05-04 | 0001570562-26-000064 ↗ |
| 10-Q | 2026-05-04 | 2026-03-31 | 0001570562-26-000066 ↗ |
| 8-K | 2026-03-13 | 2026-03-13 | 0001570562-26-000043 ↗ |
| 10-K | 2026-03-03 | 2025-12-31 | 0001628280-26-014001 ↗ |
| 8-K | 2026-03-03 | 2026-03-03 | 0001628280-26-013872 ↗ |
| 8-K | 2026-01-09 | 2026-01-09 | 0001570562-26-000003 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0001628280-25-049673 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001628280-25-049564 ↗ |
| 8-K | 2025-09-08 | 2025-09-08 | 0001570562-25-000110 ↗ |
| 10-Q | 2025-08-05 | 2025-06-30 | 0001570562-25-000098 ↗ |
| 8-K | 2025-08-05 | 2025-08-01 | 0001570562-25-000094 ↗ |