Evolus Announces Preliminary Unaudited Fourth Quarter and Full-Year 2021 Net Revenue and Provides 2022 Guidance

Evolus, Inc. (NASDAQ: EOLS), a performance beauty company with a customer-centric approach focused on delivering breakthrough products, today announced its preliminary, unaudited net revenue and cash position as of and for the fourth quarter and full-year ended December 31, 2021. The preliminary unaudited results described in this press release are estimates only based on the most current information available to management and are subject to change until the audit of the company’s 2021 financial results is completed and the company reports its full financial results for the fourth quarter and full-year 2021, which is planned for early March 2022.

“We are very pleased to announce record fourth quarter 2021 sales that demonstrated continued strong customer adoption and further market share gains,” said David Moatazedi, President and Chief Executive Officer. “During the quarter we added customer accounts and expanded our consumer loyalty program to record levels, a testament to the power of the Jeuveau brand. Our focus on the millennial consumer, the fastest-growing neurotoxin user segment, together with the unique value proposition we offer clinicians through our innovative co-branded marketing program, continued to drive growth above the projected growth rate of our industry. And, thanks to the outstanding performance of our dedicated employees, Evolus is well-positioned for continued growth and success.”

Preliminary Unaudited 2021 Results and Key Business Highlights

• Total net revenues for the fourth quarter of 2021 of approximately $34.7 million, a 68% increase over the fourth quarter of 2020, driven by both higher volumes and a higher average selling price.
• Total net revenues for the full year 2021 of approximately $99.7 million, a 76% increase over full-year net revenues in 2020.
• Accounts purchasing Jeuveau increased by more than 400 in the fourth quarter. During 2021, more than 1,400 new accounts were added bringing the total number of accounts purchasing to date since launch to more than 7,000¹.
• Continued robust adoption of the Evolus consumer loyalty program with nearly 55,000 new consumers enrolled in the fourth quarter, bringing the total number of consumers at year-end to more than 270,000².
• Cash and cash equivalents at December 31, 2021 of approximately $146.3 million, reflecting strong sales growth and cash collections, prudent expense management, and borrowings of $68.7 million from the first tranche of the recently negotiated credit facility, net of discounts and issuance costs. The company believes its credit facility will be sufficient to fund the company through cash flow breakeven, removing the need for further financing of its current operations.

2022 Outlook