Evolus, Inc.

Stand by, your program is about to begin. If you need audio assistance during today's program, please press star zero. Good afternoon, everyone, and thank you for standing by. Welcome to Avalos' first quarter earnings conference call. As a reminder, today's conference is being recorded and webcast live. All participants are in a listen-only mode. After the speaker's remarks, there will be a question-and-answer session. I would now like to turn the conference over to Narek Sargarian, Vice President and Head of Global Investor Relations, and corporate communications. Please go ahead.

Thank you, Operator, and welcome to everyone joining us on today's call to review Evelis' first quarter financial results. Our first quarter press release is now on our website at evelis.com. With me today are David Modazzetti, President and Chief Executive Officer, and Sandra Beaver, Chief Financial Officer. Today's call will include forward-looking statements. Actual results may differ materially due to risks and uncertainties outlined in our earnings press release and SEC filings. These forward-looking statements are based on current assumptions, and we undertake no obligation to update them. Additionally, we will discuss certain non-GAAP financial measures. These measures should be considered in addition to and not as a substitute for our GAAP results. A reconciliation of GAAP to non-GAAP measures is included in today's earnings release. As a reminder, our earnings release and SEC filings are available on the SEC's website and on our investor relations website. Following the conclusion of today's call, a replay will be available on our website at investors.evilist.com. With that, I'll turn the call over to our CEO, David Modigetti.

Thank you, Nard, and good afternoon, everyone. We're pleased to report a successful start to the year, delivering double-digit revenue growth as we lapped an exceptionally strong quarter from the prior year, which had grown 42%. We gained meaningful market share in the first quarter, more than offsetting slower market growth and performing at multiples above the market. Considering this backdrop, we've incorporated this higher share into our projections and reduced our 2025 toxic market growth expectation to low single digits. remaining on track to deliver our full year guidance. Our ability to consistently execute is driving continued market outperformance and strengthening customer loyalty. In our final quarter as a single product company, we achieved $68.5 million in revenue, representing 15.5% growth over the prior year. That growth is supported by a strong commercial engine. In the quarter, we added 675 new purchasing accounts, bringing our total to more than 16,000 of the 30,000 estimated in the category. On the consumer side, our loyalty program continues to serve as a competitive differentiator, driving repeat use and increasing brand engagement. We reached a new record this quarter with over 220,000 redemptions, 65% of which came from existing consumers, underscoring the high level of consumer satisfaction and repeat treatment. Our repeat treatment rate indicates that once consumers try Jovo, loyalty builds, traction increases, and this leads to sustainable growth. Building on that foundation, we officially launched Evelisse Form and Evelisse Smooth on April 18th in the U.S. We are encouraged by the strong early momentum. This marks our evolution into a multi-product company. Prior to launch, we conducted extensive research with both consumers and professionals to better understand market dynamics and identify how Evelisse could be uniquely positioned for success. A key insight was a shift in consumer sentiment surrounding the word filler, which has contributed to lower engagement in the category. To address this, we introduced a bold initiative, Drop the F-Word, encouraging clinicians to shift the conversation from filler to hyaluronic acid. This new lexicon emphasizes HA as a natural ingredient in the body, which resonates with consumers seeking a natural look. The early response to our Drop the Effort campaign has been overwhelmingly positive, with many practices embracing the message on social media and aligning themselves with the effort to reframe the narrative and replace filler with injectable HA. Our differentiated go-to-market strategy with Evelisse expands beyond redefining the category. The Coldex technology is first in class and designed to create a more natural HA gel product. Our clinical data demonstrates statistical superiority versus one of the market-leading HHLs, and our label is first in class with the mention of weight loss. These combined factors have reinvigorated a depressed market. Early interest in Evelisse has significantly exceeded expectations. Several thousand clinicians attended our launch webcast, and several thousand more have viewed the on-demand recordings. We've already sampled nearly 2,000 customers, and early ordering activity is strong. The strength of our commercial platform is evident, as Avalis is outperforming the initial launch of Jubux. As we expand our presence, we're taking a disciplined, strategic approach to the launch strategy, focused on building long-term customer relationships and deepening our presence within existing accounts. Evelisse is already proving to be a powerful complement to Javeau. This broader offering enhances our value proposition and sets the stage for continued share gains and long-term growth. We're operating from a position of strength, both strategically and financially, and we remain confident in our path forward. As market conditions evolve, the early success of Evelisse is providing new momentum, reinforcing our growth and engagement across the portfolio. We are reaffirming our full-year revenue guidance of $345 million to $355 million, on track for our sixth consecutive year of over 30% growth. Our growth engine is built to scale, and we have clear visibility into the levers that will continue to drive performance in the months ahead. Evelus is gaining competitive ground, capturing share, and solidifying its position as a performance beauty company with a growing product portfolio. With that, I'll turn it over to Sandra to walk through the financial details.