--- schema_version: "secwatch.filing_event.v1" accession: "0001570562-23-000068" form_type: "8-K" ticker: "EOLS" cik: "0001570562" company_name: "Evolus, Inc." filed_at: "2023-05-09T23:59:59+00:00" generated_at: "2026-06-15T09:05:46.259315+00:00" event_type: "earnings" sentiment: "positive" materiality_score: 0.85 calibrated_materiality_score: 0.85 confidence: "high" source: SEC EDGAR --- # Evolus Q1 revenue up 23% to $41.7M; enters filler market; raises 2028 outlook to $700M ## Summary - Q1 net revenue $41.7M, +23% YoY; reaffirms FY2023 guidance of $180-190M. - Signs exclusive U.S. distribution deal with Symatese for 5 dermal fillers (Evolysse); first approval expected 1H2025. - Raises 2028 revenue outlook to $700M (from $500M), implying ~29% CAGR from combined Jeuveau and filler line. - Amends Pharmakon debt to draw $50M second tranche in two installments ($25M May 2023, $25M Dec 2023); extends interest-only period 12 months. - CEO David Moatazedi awarded 560,000 performance RSUs; vests if stock price ≥$30 (40%) or ≥$50 (60%) within 5 years. ## SEC filing metadata - accession: 0001570562-23-000068 - form_type: 8-K - ticker: EOLS - cik: 0001570562 - company_name: Evolus, Inc. - filed_at: 2023-05-09T23:59:59+00:00 - event_type: earnings - sentiment: positive - materiality_score: 0.85 - calibrated_materiality_score: 0.85 - confidence: high - sec_items: 1.01, 2.02, 2.03, 7.01, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1570562/000157056223000068/0001570562-23-000068-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1570562/000157056223000068/eols-20230508.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001570562-23-000068 - JSON: https://secwatch.observer/filing/0001570562-23-000068.json - Plain text: https://secwatch.observer/filing/0001570562-23-000068.txt ## Key facts - Debt Financings Evolus, Inc. amended term loan of $50.0 million with BPCR Limited Partnership and BioPharma Credit Investments V (Master) LP at SOFR. - Instrument: term loan - Principal: $50.0 million - Counterparty: BPCR Limited Partnership and BioPharma Credit Investments V (Master) LP - Rate: SOFR - Event: amendment source text: On May 9, 2023, the Company entered into a Third Amendment to Loan Agreement (the “Third Amendment”) with BPCR Limited Partnership (as a “Lender”), BioPharma Credit Investments V (Master) LP (as a “Lender” and, together with BPCR Limited Partnership, the “Lenders”), and Biopharma Credit PLC, as collateral agent for the Lenders (in such capacity, the “Collateral Agent”), which amends certain terms of the Loan and Security Agreement, dated December 14, 2021, as amended, by and among the Company, Lenders, and Collateral Agent (the “Loan Agreement”). The Third Amendment provides that, subject to the terms of the Loan Agreement, as amended, the Lenders will advance the second tranche of $50.0 million to the Company in two installments: (i) $25.0 million to be advanced on May 31, 2023 and (ii) $25.0 million to be advanced on December 15, 2023. The Third Amendment increases the interest only period under the Loan Agreement by 12 months, after which the Company shall make seven equal quarterly evidence_url: https://www.sec.gov/Archives/edgar/data/1570562/000157056223000068/0001570562-23-000068-index.htm - Earnings Releases Evolus, Inc. reported first quarter ended March 31, 2023 results: revenue $41.7 million. Guidance reaffirmed. - Period: first quarter ended March 31, 2023 - Revenue: $41.7 million - Guidance: reaffirmed - Result: reported results source text: Evolus Reports First Quarter 2023 Results and Provides Business Update • Q1 2023 Net Revenue of $41.7 Million, Up 23% from Q1 2022 • Reaffirms Full-Year 2023 Net Revenue Guidance of $180 to $190 Million • Raises 2028 Revenue Outlook from $500 Million to $700 Million Driven by Addition of EvolysseTM Dermal Filler Line Representing a 29% CAGR • Fully Funded to Profitability, Including the Dermal Filler Investment, by Utilizing Remaining $50 Million of Pharmakon Credit Facility evidence_url: https://www.sec.gov/Archives/edgar/data/1570562/000157056223000068/0001570562-23-000068-index.htm - Material Agreements Evolus, Inc. entered into License, Supply and Distribution Agreement with Symatese S.A.S valued at up to €16.2 million (effective 2023-05-09). - Action: entry - Agreement: license - Counterparty: Symatese S.A.S - Value: up to €16.2 million - Effective: 2023-05-09 source text: On May 9, 2023, Evolus, Inc. (the “Company”) and Symatese S.A.S (“Symatese”), entered into a License, Supply and Distribution Agreement (the “Agreement”), pursuant to which Symatese granted to the Company an exclusive right to commercialize and distribute its five dermal filler product candidates,which are referred to as: (i) Lift; (ii) Smooth; (iii) Sculpt; (iv) Lips; and (v) Eye (each, a “Product” and collectively, the “Products”) in the United States for use in the aesthetics and dermatological fields (the “Field”). The Company also has the right of first negotiation to obtain a license from Symatese to commercialize and distribute any new products developed using the same technology as the Products in the Field in the United States. As consideration for the rights granted under the Agreement, the Company is required to make up to €16.2 million in milestone payments to Symatese, evidence_url: https://www.sec.gov/Archives/edgar/data/1570562/000157056223000068/0001570562-23-000068-index.htm - Material Agreements Evolus, Inc. amended Third Amendment to Loan Agreement with BPCR Limited Partnership, BioPharma Credit Investments V (Master) LP, and Biopharma Credit PLC valued at $50.0 million (effective 2023-05-09). - Action: amendment - Agreement: credit facility - Counterparty: BPCR Limited Partnership, BioPharma Credit Investments V (Master) LP, and Biopharma Credit PLC - Value: $50.0 million - Effective: 2023-05-09 source text: On May 9, 2023, the Company entered into a Third Amendment to Loan Agreement (the “Third Amendment”) with BPCR Limited Partnership (as a “Lender”), BioPharma Credit Investments V (Master) LP (as a “Lender” and, together with BPCR Limited Partnership, the “Lenders”), and Biopharma Credit PLC, as collateral agent for the Lenders (in such capacity, the “Collateral Agent”), which amends certain terms of the Loan and Security Agreement, dated December 14, 2021, as amended, by and among the Company, Lenders, and Collateral Agent (the “Loan Agreement”). The Third Amendment provides that, subject to the terms of the Loan Agreement, as amended, the Lenders will advance the second tranche of $50.0 million to the Company in two installments evidence_url: https://www.sec.gov/Archives/edgar/data/1570562/000157056223000068/0001570562-23-000068-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.