Why Evolus Shares Are Trading Higher Today

Evolus, Inc. EOLS shares are trading higher after the company issued fourth-quarter and full-year 2022 and announced full-year 2023 revenue guidance.

What happened: On Wednesday, Evolus issued its fourth-quarter 2022 and full-year 2022 preliminary unaudited net revenue results. Net revenue for the fourth quarter of 2022 is estimated at $43.6 million, a 26% increase from the same period in 2021. Full-year net revenue is approximately $148.6 million, a 49% increase from full-year 2021.

Additionally, the company also issued revenue guidance for the full-year 2023. Total net revenues for 2023 are estimated to be between $180 million and $190 million, and Evolus expects non-GAAP operating income to be positive in the fourth quarter of 2023.

David Moatazedi, President and CEO of Evolus, noted that “during the [fourth] quarter, we continued to add customer accounts and expand our consumer loyalty program…this helped drive sales growth well above the projected growth rate of our industry.”

Evolus Inc is a performance beauty company with a customer-centric approach to delivering breakthrough products in the self-pay aesthetic market.

According to Benzinga Pro data, Evolus Inc. shares were up 17.5%, trading at $9.94 at the time of publication. It has a 52-week high of $10.15 and a 52-week low of $8.65.