Evolus (EOLS): Maintaining Hold Amid Softer Aesthetic Injectables Demand and Macro HeadwindsWe are making minor updates to our EOLS model, mostly to top-line (Jeuveau and Evolysse), to more accurately reflect historical and current trends. The downward adjustments to Jeuveau and Evolysse reflect historical Q/Q trends from 3Q and 4Q, and the weaker than expected aesthetic market for facial injectables. the key U.S. aesthetic market bellwether, reported that thru 3Q25, Botox and Juvederm, were down ~14%Y/Y , and ~20%Y/Y , respectively. These trends may improve in 2026, but are likely to remain below historical growth trends due to continued consumer concerns vis-à-vis the economy and inflation that impact discretionary spending.