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Side-by-side financial comparison of Evolus, Inc. (EOLS) and FIRST MERCHANTS CORP (FRME). Click either name above to swap in a different company.
FIRST MERCHANTS CORP is the larger business by last-quarter revenue ($157.1M vs $73.1M, roughly 2.1× Evolus, Inc.). FIRST MERCHANTS CORP runs the higher net margin — 17.9% vs -14.6%, a 32.5% gap on every dollar of revenue. Over the past eight quarters, Evolus, Inc.'s revenue compounded faster (4.6% CAGR vs -0.9%).
Evolus, Inc. is a medical aesthetics company focused on developing and commercializing non-surgical cosmetic treatment solutions. Its flagship product is a prescription neuromodulator designed to reduce moderate to severe glabellar frown lines, serving licensed aesthetic healthcare providers and consumers across North America, Europe, and key Asia-Pacific regional markets.
First Merchants Corporation is a financial holding company in Central Indiana, headquartered in Muncie, Indiana. The Corporation includes First Merchants Bank and First Merchants Private Wealth Advisors. The company is listed on the NASDAQ as FRME. As of March 2023, total asset size of First Merchants Corporation was $18.2 billion. First Merchants offers commercial banking, personal banking, and investment advisor services.
EOLS vs FRME — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $73.1M | $157.1M |
| Net Profit | $-10.7M | $28.2M |
| Gross Margin | 66.9% | — |
| Operating Margin | 23.8% | — |
| Net Margin | -14.6% | 17.9% |
| Revenue YoY | 6.7% | — |
| Net Profit YoY | — | -49.1% |
| EPS (diluted) | $-0.16 | $0.45 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $73.1M | $157.1M | ||
| Q4 25 | $90.3M | $172.2M | ||
| Q3 25 | $69.0M | $166.1M | ||
| Q2 25 | $69.4M | $164.3M | ||
| Q1 25 | $68.5M | $160.3M | ||
| Q4 24 | $78.9M | $177.1M | ||
| Q3 24 | $61.1M | $156.0M | ||
| Q2 24 | $66.9M | $159.9M |
| Q1 26 | $-10.7M | $28.2M | ||
| Q4 25 | $130.0K | $57.1M | ||
| Q3 25 | $-15.7M | $56.8M | ||
| Q2 25 | $-17.1M | $56.8M | ||
| Q1 25 | $-18.9M | $55.3M | ||
| Q4 24 | $-6.8M | $64.3M | ||
| Q3 24 | $-19.2M | $49.2M | ||
| Q2 24 | $-11.3M | $39.9M |
| Q1 26 | 66.9% | — | ||
| Q4 25 | 65.7% | — | ||
| Q3 25 | 66.5% | — | ||
| Q2 25 | 65.3% | — | ||
| Q1 25 | 68.1% | — | ||
| Q4 24 | 66.7% | — | ||
| Q3 24 | 68.9% | — | ||
| Q2 24 | 70.3% | — |
| Q1 26 | 23.8% | — | ||
| Q4 25 | 4.7% | 38.0% | ||
| Q3 25 | -16.7% | 39.3% | ||
| Q2 25 | -14.7% | 39.6% | ||
| Q1 25 | -22.1% | 39.4% | ||
| Q4 24 | -2.9% | 43.3% | ||
| Q3 24 | -25.3% | 36.1% | ||
| Q2 24 | -11.5% | 27.5% |
| Q1 26 | -14.6% | 17.9% | ||
| Q4 25 | 0.1% | 33.1% | ||
| Q3 25 | -22.8% | 34.2% | ||
| Q2 25 | -24.7% | 34.6% | ||
| Q1 25 | -27.6% | 34.5% | ||
| Q4 24 | -8.6% | 36.3% | ||
| Q3 24 | -31.4% | 31.5% | ||
| Q2 24 | -17.0% | 25.0% |
| Q1 26 | $-0.16 | $0.45 | ||
| Q4 25 | $0.01 | $0.98 | ||
| Q3 25 | $-0.24 | $0.98 | ||
| Q2 25 | $-0.27 | $0.98 | ||
| Q1 25 | $-0.30 | $0.94 | ||
| Q4 24 | $-0.11 | $1.09 | ||
| Q3 24 | $-0.30 | $0.84 | ||
| Q2 24 | $-0.18 | $0.68 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $49.8M | — |
| Total DebtLower is stronger | $156.4M | — |
| Stockholders' EquityBook value | — | $2.7B |
| Total Assets | $220.6M | $21.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $49.8M | — | ||
| Q4 25 | $53.8M | — | ||
| Q3 25 | $43.5M | — | ||
| Q2 25 | $61.7M | — | ||
| Q1 25 | $67.9M | — | ||
| Q4 24 | $87.0M | — | ||
| Q3 24 | $85.0M | — | ||
| Q2 24 | $93.7M | — |
| Q1 26 | $156.4M | — | ||
| Q4 25 | $146.1M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $121.8M | — | ||
| Q4 24 | $121.5M | — | ||
| Q3 24 | $121.2M | — | ||
| Q2 24 | $120.9M | — |
| Q1 26 | — | $2.7B | ||
| Q4 25 | $-23.1M | $2.5B | ||
| Q3 25 | $-28.8M | $2.4B | ||
| Q2 25 | $-18.7M | $2.3B | ||
| Q1 25 | $-6.6M | $2.3B | ||
| Q4 24 | $5.5M | $2.3B | ||
| Q3 24 | $5.9M | $2.3B | ||
| Q2 24 | $19.3M | $2.2B |
| Q1 26 | $220.6M | $21.1B | ||
| Q4 25 | $225.9M | $19.0B | ||
| Q3 25 | $219.0M | $18.8B | ||
| Q2 25 | $228.8M | $18.6B | ||
| Q1 25 | $213.4M | $18.4B | ||
| Q4 24 | $232.6M | $18.3B | ||
| Q3 24 | $229.6M | $18.3B | ||
| Q2 24 | $233.8M | $18.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 22.00× | — | ||
| Q3 24 | 20.58× | — | ||
| Q2 24 | 6.26× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EOLS
| Product revenue, net | $72.7M | 99% |
| Service revenue | $390.0K | 1% |
FRME
| Net Interest Income | $151.3M | 96% |
| Noninterest Income | $5.8M | 4% |
