EOLS - Evolus: Smooth Progress As Management Targets $700m Aesthetics Franchise Revenues By 2028

2024-03-20 14:05:03 ET

Summary

• Evolus, a global performance beauty company, raised $60m in its IPO in 2018.
• Its first and only commercial product, Jeuveau, is an injectable botulinum toxin Type A product that has been approved in the US and most European territories.
• Evolus has settled a lawsuit with AbbVie and is focused on taking on Botox in the commercial markets.
• Management has guided for over $250m revenues in 2024, and over $700m by 2028 thanks to the launch of a new dermal filler range of products.
• Smartly marketed, effective, and growing market share, Jeuveau seems a strong product, and with support from the new range, I'd argue Evolus is well placed to grow its valuation and share price over the next several years.

Investment Overview

Evolus ( EOLS ) went public in February 2018, its initial public offering ("IPO") raising ~$60m in gross proceeds, at a price of $12 per share.

The company describes itself as "global performance beauty company with a customer-centric approach to delivering breakthrough products", in its 2023 annual report/ 10K submission , and its first and only commercial product, Jeuveau, was approved in the US and most European territories (where it is marketed and sold as Nuceiva) in 2019....

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