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Sandra Beaver has promised investors that Evolus Inc. will triple revenue to $700 million by 2028.
To reach that goal, the Newport Beach maker of facial injections would need an annual compounded annual growth rate (CAGR) of 27%.
Thus far, it’s well above that CAGR as sales climbed 32% to $266.3 million in 2024. Analysts are projecting 32% growth this year to $353 million followed by another 33% increase to $469 million in 2026.
“We’re on a great trajectory to hit our goals,” Beaver told the Business Journal. “We have an excellent sales team, and we’re in an exciting market.”
Since winning the Business Journal’s CFO of the Year Award in the public sector a year ago, it’s been a busy time for Beaver. Among the company highlights she’s been involved with:
• Evolus’ signature product, Jeuveau, is approaching 14% market share; Jeuveau’s main competitor is Botox from Abbvie Inc.’s Allergan, which operates out of Irvine.• The company is preparing for a second quarter launch of injectable hyaluronic acid gels called Evolysse, which received approval in February from the Food and Drug Administration (FDA). The product is the first to receive FDA approval to mention weight loss potential on its label, Beaver said. Evolysse also transitions the company into a multi-product supplier.• Hosted Evolus’ first Investor Day since going public and participated in the Nasdaq closing bell ceremony.
• Played a key role in company’s international growth, supporting successful market launches in Spain and Australia, further establishing the company’s global footprint.
• Honored in New York City as a Rising Star at the 2nd Annual CFO Leadership Awards, hosted by StrategicCFO360 and The CFO Leadership Council.
• Non-GAAP income from operations in 2024 was $300,000 compared to a $23.4 million loss from operations in 2023. It’s the company’s first ever annual adjusted profit, reaching it a year ahead of schedule.
“We’re really disciplined about where we put our money,” she said. “We’re getting great operating leverage.”
• The total number of purchasing accounts to date since Jeuveau’s launch has grown to more than 15,300, surpassing 50% account penetration in the U.S. The reorder rate among customers remains at approximately 70%.
• Enrollment in the Evolus Rewards consumer loyalty program grew over 40% to 1.1 million consumers by the end of 2024.
Since joining Evolus as CFO in 2022, the employee count has grown from 160 to 350. The stock last week fell 14% to $10.48 due to pending tariffs. It has a $665 million market cap (Nasdaq: EOLS).
“It’s been a great fun year for Evolus. We’re about to launch our second product line. It’s a lot of excitement. It’s a big transformation for the company.”