Evolus, Inc.

Outlook

•Total net revenues for 2026 are projected to be between $327 million and $337 million, which represents 10% to 13% growth over the prior year.

•Evolus expects its adjusted gross profit margin for the full-year 2026 to be between 65.5% and 67.0%, reflecting an evolving revenue mix while maintaining a disciplined approach to margin optimization.

•Non-GAAP operating expenses for 2026 are estimated to be between $210 million and $216 million, representing a modest 0% to 3% growth over 2025 non-GAAP operating expenses, and reflecting meaningful operating leverage alongside continued operational efficiency.

•Evolysse™ and Estyme® injectable HA gels are anticipated to contribute 10% to 12% of total revenue for the full-year 2026, reflecting:

◦U.S. commercialization of Evolysse™ Form and Evolysse™ Smooth;

◦The anticipated commercial launch of Estyme® in Europe; and

◦The anticipated U.S. approval of Evolysse™ Sculpt in the fourth quarter of 2026, with guidance not assuming any revenue contribution from the product.

•The company expects to achieve a low- to mid-single digit adjusted EBITDA margin in 2026.

•2028 long-term financial outlook reflecting total net revenue between $450 million and $500 million, representing a three-year CAGR of 15% to 19%, and adjusted EBITDA margins of 13% to 15% for 2028, which reflects:

◦A recalibrated U.S. market outlook, reflecting current market conditions and a more conservative near-term growth environment;

◦Strengthened market share, driven by continued outperformance, portfolio expansion, and commercial execution; and

◦International business performance remaining on track, supported by continued execution across existing markets and the anticipated commercial launch of Estyme®in Europe.

The Company Noted:

•Based on announcements to date, Jeuveau®, a biologic, is not currently impacted by tariffs.

•Based on recent court decisions and executive actions, Evolysse™, which is classified as a medical device and imported from France, is currently subject to a 10% tariff. The administration has also communicated the possibility of an additional 5% tariff, which has not been formally implemented. The Company is evaluating the potential recovery of previously paid tariffs which were overturned by the U.S. Supreme Court. The Company continues to monitor policy developments and will evaluate any potential impact pending further guidance from the U.S. administration.

•Beginning in fiscal year 2026, the Company will transition its primary profitability metric from Non-GAAP Operating Income (Loss) to Adjusted EBITDA. This change is intended to improve comparability to industry peers, and will not impact reported results, as the reconciling items are consistent between both metrics.