v3.25.4
Segment Reporting and Customer Concentration
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting and Customer Concentration Segment Reporting and Customer Concentration
The Company conducts business as a single operating and reportable segment focusing on the business of performance beauty by delivering breakthrough products to the cash-pay aesthetic market. Under this organizational structure, the CEO, serving as the CODM, assesses performance and manages the Company’s operations as one integrated business. The identification of a single operating and reportable segment is consistent with the management approach in that the CODM regularly reviews consolidated financial information for the purpose of assessing performance and allocating resources.
The CODM regularly reviews (i) net revenues, (ii) gross profit, (iii) operating profit or loss and (iv) net income or loss and uses net income or loss as the key measure of segment profit or loss when allocating resources and assessing performance. The CODM compares net income or loss in prior periods with that of the current period, evaluates actual results against budget and forecast, identifies relevant business factors and trends, and evaluates the achievements of the Company’s established strategic goals. In April 2025, the Company launched Evolysse™ Form and Evolysse™ Smooth in the United States; as such, segment product net revenue has been recast in connection with the launch of Evolysse™. The table below presents selected financial information of the Company’s single reportable segment regularly provided to and reviewed by the CODM and a reconciliation of segment net loss to consolidated net loss as computed under U.S. GAAP:
Year Ended December 31,
202520242023
Revenue:
Jeuveau®
$272,323 $264,306 $199,721 
Evolysse™
22,633 — — 
Total product revenue, net294,956 264,306 199,721 
Service revenue2,220 1,968 2,364 
Total net revenues297,176 266,274 202,085 
Less:
Cost of goods sold
100,069 83,970 64,514 
Gross profit197,107 182,304 137,571 
Less:
Research and development
9,576 9,172 6,556 
In process research and development
— — 8,869 
Selling, general and administrative
220,786 198,025 164,944 
Depreciation and amortization
4,345 2,342 2,178 
Interest income
(1,931)(3,263)(860)
Interest expense
19,694 18,735 13,832 
Income tax expense
677 664 176 
Other segment items(1)
(4,399)7,049 3,561 
Segment net loss
$(51,641)$(50,420)$(61,685)
Reconciliation of profit and loss (Segment net loss/profit):
Adjustments and reconciling items
— — — 
Consolidated net loss
$(51,641)$(50,420)$(61,685)
(1) Other segment items include revaluation of contingent royalty obligation payable to Evolus Founders, Restructuring costs and Other (income) expense, net.
Information of segment assets provided to the CODM is consistent with that reported in the accompanying consolidated balance sheets with particular emphasis on the Company’s available liquidity and working capital, including its cash and cash equivalents, accounts receivables, inventory and current liabilities.

For the years ended December 31, 2025, 2024 and 2023, no single customer accounted for 10% or more of the Company’s total revenue.