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e.l.f. Beauty Announces Fourth Quarter and Full Fiscal 2024 Results

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e.l.f. Beauty (NYSE: ELF) reported outstanding financial results for Q4 and fiscal year 2024, achieving over $1 billion in net sales, a 77% increase compared to the previous year. The company saw a 71% rise in net sales for Q4 alone, with gross margins increasing by 180 basis points to 71%. Adjusted net income for Q4 was $30.8 million, and adjusted diluted earnings per share were $0.53. For the fiscal year, adjusted net income was $183.8 million, with adjusted diluted EPS of $3.18.

SG&A expenses rose significantly due to higher marketing, compensation, and operational costs. The company's cash position stood at $108.2 million, with long-term debt at $161.8 million. e.l.f. Beauty also acquired Naturium for $333 million, enhancing its skincare portfolio.

Looking ahead, the company expects a 20-22% increase in net sales for fiscal 2025, with adjusted net income projected between $187-191 million.

Positive
  • Net sales increased by 77% to $1.024 billion in fiscal 2024.
  • Q4 net sales rose by 71% to $321.1 million.
  • Gross margin improved by 330 basis points to 71% for the fiscal year.
  • Adjusted net income for the fiscal year was $183.8 million.
  • Adjusted diluted EPS for the fiscal year was $3.18.
  • Adjusted EBITDA increased by 101% year-over-year to $234.7 million.
  • Acquisition of Naturium for $333 million expands skincare portfolio.
  • Projected 20-22% increase in net sales for fiscal 2025.
Negative
  • SG&A expenses increased by $252.2 million to $574.4 million, representing 56% of net sales.
  • Net income for Q4 was relatively low at $14.5 million on a GAAP basis.
  • The company's cash position decreased to $108.2 million from $120.8 million.
  • Long-term debt increased to $161.8 million from $60.9 million.

e.l.f. Beauty's fiscal 2024 results highlight a remarkable growth trajectory, with net sales crossing the $1 billion mark, a 77% increase from the previous year. This is significant as it underscores the brand's ability to expand its market share for the fifth consecutive year. The company also reported a 93% increase in adjusted EBITDA, which is a strong indicator of improved operating efficiency.

The increase in gross margin by 330 basis points to 71% is noteworthy. This was driven by factors such as favorable foreign exchange impacts and cost savings, indicating the company's effective cost management strategies. However, investors should also consider the rise in SG&A expenses, which represent 56% of net sales. The higher marketing and digital spend, although contributing to growth, could pressure future margins if not managed carefully.

Looking ahead, the fiscal 2025 outlook presents an expected net sales increase of 20-22%, which, while lower than fiscal 2024 growth, still demonstrates strong forward momentum. The projected adjusted EBITDA of $285-289 million also suggests sustained profitability. Investors should monitor the company's ability to balance growth investments with cost controls to maintain these positive trends.

In summary, e.l.f. Beauty's financial performance reflects strong market positioning and growth potential, but continued vigilance on cost management is important for long-term success.

e.l.f. Beauty's consistent market share gains over the past five years are impressive and highlight the effectiveness of their strategic initiatives. The company's ability to increase both retail and e-commerce sales channels shows its adaptability and responsiveness to consumer trends. This dual-channel strength is pivotal in sustaining growth, especially as shopping behaviors evolve.

The acquisition of Naturium for $333 million aligns with e.l.f. Beauty's strategy to diversify its product offerings and tap into the fast-growing skincare segment. This acquisition not only broadens their portfolio but also enhances their market position in the skincare industry, which has been experiencing robust demand.

Moreover, the fiscal 2025 outlook with a net sales increase of 20-22% indicates management’s confidence in continued growth. However, investors should keep an eye on the integration process of Naturium and how it impacts overall performance. The success of this acquisition could potentially unlock new revenue streams and strengthen the brand's market presence.

Overall, e.l.f. Beauty's market strategies appear solid, but monitoring the execution of new initiatives and market trends will be key for sustained success.

– Delivered Over $1 Billion in Net Sales, up 77% in Fiscal 2024 –

– e.l.f. Cosmetics Gained Market Share for Fifth Consecutive Year –

– Provides Fiscal 2025 Outlook –

OAKLAND, Calif.--(BUSINESS WIRE)-- e.l.f. Beauty (NYSE: ELF) today announced results for the three and twelve months ended March 31, 2024.

“Fiscal 2024 marked our strongest year of net sales growth on record, a continuation of the exceptional, consistent, category-leading growth we’ve delivered,” said Tarang Amin, e.l.f. Beauty’s Chairman and Chief Executive Officer. “In Q4, we grew net sales by 71% and expanded our market share by 325 basis points, marking our 21st consecutive quarter of net sales and market share growth. As we look ahead, we believe we are still in the early innings of unlocking the full potential we see for e.l.f. Beauty across cosmetics, skin care and international markets.”

Fourth Quarter Fiscal 2024 Review

For the three months ended March 31, 2024, compared to the three months ended March 31, 2023:

  • Net sales increased 71% to $321.1 million, primarily driven by strength across our retailer and e-commerce channels.
  • Gross margin increased approximately 180 basis points to 71%, primarily driven by favorable foreign exchange impacts, international price increases, lower costs from retailer activity, cost savings and mix, and improved transportation costs, partially offset by inventory adjustments.
  • Selling, general and administrative (“SG&A”) expenses increased $89.1 million to $210.2 million, or 65% of net sales. Adjusted SG&A (SG&A excluding the items identified in the reconciliation table below) was $196.9 million, or 61% of net sales. The year over year increase in SG&A dollars was primarily due to an increase in marketing and digital spend, compensation and benefits, operations costs, retail fixturing and visual merchandising costs, depreciation and amortization and professional fees.
  • Net income was $14.5 million on a GAAP basis. Adjusted net income (net income excluding the items identified in the reconciliation table below) was $30.8 million.
  • Diluted earnings per share were $0.25 on a GAAP basis. Adjusted diluted earnings per share (diluted earnings per share calculated with adjusted net income excluding the items identified in the reconciliation table below) were $0.53.
  • Adjusted EBITDA (EBITDA excluding the items identified in the reconciliation table below) was $40.9 million, or 13% of net sales, up 93% year over year.

Full Year Fiscal 2024 Review

For the twelve months ended March 31, 2024, compared to the twelve months ended March 31, 2023:

  • Net sales increased 77% to $1,023.9 million, primarily driven by strength across our retailer and e-commerce channels.
  • Gross margin increased approximately 330 basis points to 71%, primarily driven by favorable foreign exchange impacts, cost savings and mix, improved transportation costs, inventory adjustments, and international price increases, partially offset by costs related to retailer activity.
  • SG&A increased $252.2 million to $574.4 million, or 56% of net sales. Adjusted SG&A was $526.4 million, or 51% of net sales. The year over year increase in SG&A dollars was primarily due to an increase in marketing and digital spend, compensation and benefits, operations costs, retail fixturing and visual merchandising costs, depreciation and amortization and professional fees.
  • Net income was $127.7 million on a GAAP basis. Adjusted net income was $183.8 million.
  • Diluted earnings per share were $2.21 on a GAAP basis. Adjusted diluted earnings per share were $3.18.
  • Adjusted EBITDA was $234.7 million, or 23% of net sales, up 101% year over year.

Balance Sheet

The Company ended fiscal 2024 with $108.2 million in cash and cash equivalents and $161.8 million of long-term debt and finance lease obligations, as compared to $120.8 million in cash and cash equivalents and $60.9 million of long-term debt and finance lease obligations at the end of fiscal 2023.

Naturium Acquisition

On October 4, 2023, the Company closed the acquisition of Naturium, a fast-growing, high performance skin care brand, for $333.0 million in a combination of cash and Company stock. The acquisition furthers the Company’s mission to make the best of beauty accessible to every eye, lip, face and skin concern.

Fiscal 2025 Outlook

The Company is providing the following outlook for fiscal 2025. When compared to fiscal 2024, the outlook for fiscal 2025 reflects an expected 20-22% increase in net sales.

 

 

Fiscal 2025 Outlook

 

Fiscal 2024 Actuals

Net sales

 

$1,230-1,250 million

 

$1,024 million

Adjusted EBITDA

 

$285-289 million

 

$235 million

Adjusted effective tax rate

 

20-21%

 

11%

Adjusted net income

 

$187-191 million

 

$184 million

Adjusted diluted earnings per share

 

$3.20-3.25

 

$3.18

Weighted average diluted shares outstanding

 

59 million

 

58 million

Webcast Details

The Company will hold a webcast to discuss the results from its fourth quarter fiscal 2024 today, May 22, 2024, at 4:30 p.m. Eastern Time. The webcast will be broadcast live at https://investor.elfbeauty.com/news-and-events/events. For those unable to listen to the live broadcast, an archived version will be available at the same location.

About e.l.f. Beauty

e.l.f. Beauty, Inc. builds brands designed to disrupt norms, shape culture and connect communities through positivity, inclusivity and accessibility. A digitally disruptive brand from the start, we launched in 2004 selling premium-quality makeup for $1 online. Today, we have five visionary, purpose-driven brands, all of which make the best of beauty accessible to every eye, lip, face and skin concern. Our brand portfolio includes e.l.f. Cosmetics, e.l.f. SKIN, Naturium, Well People and Keys Soulcare. With a focus on clean, cruelty free and vegan products, we are also the first beauty company with a Fair Trade™ certified manufacturing facility. e.l.f. Beauty brands are sold online and at leading beauty, mass market, and specialty retailers in the U.S. and internationally.

Learn more by visiting https://investor.elfbeauty.com.

Note Regarding non-GAAP Financial Measures

This press release includes references to non-GAAP measures, including adjusted EBITDA, adjusted SG&A, adjusted net income and adjusted diluted earnings per share. The Company presents these non-GAAP measures because its management uses them as supplemental measures in assessing its operating performance, and believes they are helpful to investors, securities analysts and other interested parties in evaluating the Company’s performance. The non-GAAP measures included in this press release are not measurements of financial performance under GAAP and they should not be considered as alternatives to or substitutes for measures of performance derived in accordance with GAAP. In addition, these non-GAAP measures should not be construed as an inference that the Company’s future results will be unaffected by unusual or non-recurring items. These non-GAAP measures have limitations as analytical tools, and you should not consider such measures either in isolation or as substitutes for analyzing the Company’s results as reported under GAAP. The Company’s definitions and calculations of these non-GAAP measures are not necessarily comparable to other similarly titled measures used by other companies due to different methods of calculation.

Adjusted EBITDA excludes expense or income related to stock-based compensation, impairment of equity investment, loss on extinguishment of debt and other non-cash and non-recurring items. Such other non-cash or non-recurring items include amortization of internal-use software costs related to cloud applications, costs related to the acquisition of Naturium, and cloud computing ERP implementation costs.

Adjusted SG&A excludes expense related to stock-based compensation and other non-recurring items. Such other non-recurring items include other non-recurring cloud computing ERP implementation costs and costs related to the acquisition of Naturium.

Adjusted effective tax rate is the tax rate when excluding the pre-tax impact of expense or income related to stock-based compensation, other non-cash and non-recurring items, impairment of equity investment, loss on extinguishment of debt, amortization of acquired intangible assets, as well as the related tax impact for these items, calculated utilizing the statutory rate for where the impact was incurred.

Adjusted net income excludes expense or income related to stock-based compensation, other non-recurring items, impairment of equity investment, loss on extinguishment of debt, amortization of acquired intangible assets and the tax impact of the foregoing adjustments. Such other non-recurring items include other non-recurring cloud computing ERP implementation costs and costs related to the acquisition of Naturium.

With respect to the Company’s expectations under “Fiscal 2025 Outlook” above, the Company is not able to provide a quantitative reconciliation of the adjusted EBITDA, adjusted net income and adjusted diluted earnings per share guidance non-GAAP measures to the corresponding net income and diluted earnings per share GAAP measures without unreasonable efforts. The Company cannot provide meaningful estimates of the non-recurring charges and credits excluded from these non-GAAP measures due to the forward-looking nature of these estimates and their inherent variability and uncertainty. For the same reasons, the Company is unable to address the probable significance of the unavailable information.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws, including those statements relating to the Company's outlook for fiscal 2025 under “Fiscal 2025 Outlook” above and those statements that we believe we are still in the early innings of unlocking the full potential we see for e.l.f. Beauty across cosmetics, skin care and international markets. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, actual results and the timing of selected events may differ materially from those expectations. Factors that could cause actual results to differ materially from those in the forward looking statements include, among other things, the risks and uncertainties that are described in the Company's most recent Annual Report on Form 10-K, as updated from time to time in the Company's SEC filings, as well as the Company’s ability to effectively compete with other beauty companies; the Company’s ability to successfully introduce new products; the Company's ability to successfully address any difficulties and challenges encountered in connection with its acquisition of Naturium, including the integration of Naturium's business with the Company's business; the Company’s ability to attract new retail customers and/or expand business with its existing retail customers; the Company’s ability to optimize shelf space at its key retail customers; the loss of any of the Company’s key retail customers or if the general business performance of its key retail customers declines; and the Company’s ability to effectively manage its SG&A and other expenses. Potential investors are urged to consider these factors carefully in evaluating the forward-looking statements. These forward-looking statements speak only as of the date hereof. Except as required by law, the Company assumes no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.

 

e.l.f. Beauty, Inc. and subsidiaries

Condensed consolidated statements of operations

(unaudited)

(in thousands, except share and per share data)

 

 

 

Three months ended March 31,

 

Twelve months ended March 31,

 

 

2024

 

2023

 

2024

 

2023

 

 

 

 

 

 

 

 

 

Net sales

 

$

321,143

 

 

$

187,357

 

 

$

1,023,932

 

 

$

578,844

 

Cost of sales

 

 

93,941

 

 

 

58,231

 

 

 

299,836

 

 

 

188,448

 

Gross profit

 

 

227,202

 

 

 

129,126

 

 

 

724,096

 

 

 

390,396

 

Selling, general and administrative expenses

 

 

210,172

 

 

 

121,081

 

 

 

574,418

 

 

 

322,253

 

Operating income

 

 

17,030

 

 

 

8,045

 

 

 

149,678

 

 

 

68,143

 

Other (expense) income, net

 

 

(692

)

 

 

320

 

 

 

1,210

 

 

 

(1,875

)

Impairment of equity investment

 

 

(1,155

)

 

 

 

 

 

(2,875

)

 

 

 

Interest expense, net

 

 

(4,002

)

 

 

(106

)

 

 

(7,023

)

 

 

(2,018

)

Loss on extinguishment of debt

 

 

 

 

 

 

 

 

 

 

 

(176

)

Income before income taxes

 

 

11,181

 

 

 

8,259

 

 

 

140,990

 

 

 

64,074

 

Income tax benefit (provision)

 

 

3,346

 

 

 

7,987

 

 

 

(13,327

)

 

 

(2,544

)

Net income

 

$

14,527

 

 

$

16,246

 

 

$

127,663

 

 

$

61,530

 

Net income per share:

 

 

 

 

 

 

 

 

Basic

 

$

0.26

 

 

$

0.31

 

 

$

2.33

 

 

$

1.17

 

Diluted

 

$

0.25

 

 

$

0.29

 

 

$

2.21

 

 

$

1.11

 

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

Basic

 

 

55,465,190

 

 

 

53,189,447

 

 

 

54,747,930

 

 

 

52,474,811

 

Diluted

 

 

58,487,557

 

 

 

56,641,510

 

 

 

57,788,454

 

 

 

55,337,554

 

e.l.f. Beauty, Inc. and subsidiaries

Condensed consolidated balance sheets

(unaudited)

(in thousands, except share and per share data)

 

 

 

March 31, 2024

 

March 31, 2023

Assets

 

 

 

 

Current assets:

 

 

 

 

Cash and cash equivalents

 

$

108,183

 

 

$

120,778

 

Accounts receivable, net

 

 

123,797

 

 

 

67,928

 

Inventory, net

 

 

191,489

 

 

 

81,323

 

Prepaid expenses and other current assets

 

 

53,608

 

 

 

33,296

 

Total current assets

 

 

477,077

 

 

 

303,325

 

Property and equipment, net

 

 

13,974

 

 

 

7,874

 

Intangible assets, net

 

 

225,094

 

 

 

78,041

 

Goodwill

 

 

340,600

 

 

 

171,620

 

Other assets

 

 

72,502

 

 

 

34,741

 

Total assets

 

$

1,129,247

 

 

$

595,601

 

 

 

 

 

 

Liabilities and stockholders' equity

 

 

 

 

Current liabilities:

 

 

 

 

Current portion of long-term debt and capital lease obligations

 

$

100,307

 

 

$

5,575

 

Accounts payable

 

 

81,075

 

 

 

31,427

 

Accrued expenses and other current liabilities

 

 

117,733

 

 

 

70,974

 

Total current liabilities

 

 

299,115

 

 

 

107,976

 

Long-term debt and finance lease obligations

 

 

161,819

 

 

 

60,881

 

Deferred tax liabilities

 

 

3,666

 

 

 

3,742

 

Long-term operating lease obligations

 

 

21,459

 

 

 

11,201

 

Other long-term liabilities

 

 

616

 

 

 

784

 

Total liabilities

 

 

486,675

 

 

 

184,584

 

 

 

 

 

 

Stockholders' equity:

 

 

 

 

Common stock, par value of $0.01 per share; 250,000,000 shares authorized as of March 31, 2024 and March 31, 2023; 55,583,660 and 53,770,482 shares issued and outstanding as of March 31, 2024 and March 31, 2023, respectively

 

 

555

 

 

 

535

 

Additional paid-in capital

 

 

936,403

 

 

 

832,481

 

Accumulated other comprehensive loss

 

 

(50

)

 

 

 

Accumulated deficit

 

 

(294,336

)

 

 

(421,999

)

Total stockholders' equity

 

 

642,572

 

 

 

411,017

 

Total liabilities and stockholders' equity

 

$

1,129,247

 

 

$

595,601

 

e.l.f. Beauty, Inc. and subsidiaries

Condensed consolidated statements of cash flows

(unaudited)

(in thousands)

 

 

 

Twelve months ended March 31,

 

 

2024

 

2023

Cash flows from operating activities:

 

 

 

 

Net income

 

$

127,663

 

 

$

61,530

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

Depreciation and amortization

 

 

35,913

 

 

 

22,164

 

Stock-based compensation expense

 

 

40,625

 

 

 

29,117

 

Amortization of debt issuance costs and discount on debt

 

 

430

 

 

 

346

 

Deferred income taxes

 

 

(3,276

)

 

 

(6,401

)

Impairment of equity investment

 

 

2,875

 

 

 

 

Acquisition-related seller expenses

 

 

(10,549

)

 

 

 

Loss on extinguishment of debt

 

 

 

 

 

176

 

Other, net

 

 

1,227

 

 

 

179

 

Changes in operating assets and liabilities:

 

 

 

 

Accounts receivable

 

 

(49,598

)

 

 

(22,432

)

Inventory

 

 

(93,930

)

 

 

3,174

 

Prepaid expenses and other assets

 

 

(55,182

)

 

 

(24,553

)

Accounts payable and accrued expenses

 

 

81,215

 

 

 

42,995

 

Other liabilities

 

 

(6,259

)

 

 

(4,412

)

Net cash provided by operating activities

 

 

71,154

 

 

 

101,883

 

 

 

 

 

 

Cash flows from investing activities:

 

 

 

 

Acquisition, net of cash acquired

 

 

(274,973

)

 

 

 

Purchase of property and equipment

 

 

(8,659

)

 

 

(1,723

)

Investment contributions

 

 

(1,028

)

 

 

 

Net cash used in investing activities

 

 

(284,660

)

 

 

(1,723

)

 

 

 

 

 

Cash flows from financing activities:

 

 

 

 

Proceeds from revolving line of credit

 

 

89,500

 

 

 

 

Proceeds from long-term debt

 

 

115,000

 

 

 

 

Repayment of long-term debt

 

 

(7,875

)

 

 

(30,000

)

Debt issuance costs paid

 

 

(665

)

 

 

 

Cash received from issuance of common stock

 

 

5,561

 

 

 

8,053

 

Other, net

 

 

(576

)

 

 

(788

)

Net cash provided by (used in) financing activities

 

 

200,945

 

 

 

(22,735

)

 

 

 

 

 

Effect of exchange rate changes on cash and cash equivalents

 

 

(34

)

 

 

 

 

 

 

 

 

Net (decrease) increase in cash and cash equivalents

 

 

(12,595

)

 

 

77,425

 

Cash and cash equivalents - beginning of period

 

 

120,778

 

 

 

43,353

 

Cash and cash equivalents - end of period

 

$

108,183

 

 

$

120,778

 

e.l.f. Beauty, Inc. and subsidiaries

Reconciliation of GAAP net income to non-GAAP adjusted EBITDA

(unaudited)

(in thousands)

 

 

 

Three months ended March 31,

 

Twelve months ended March 31,

 

 

2024

 

2023

 

2024

 

2023

 

 

 

 

 

 

 

 

 

Net income

 

$

14,527

 

 

$

16,246

 

 

$

127,663

 

$

61,530

Interest expense, net

 

 

4,002

 

 

 

106

 

 

 

7,023

 

 

2,018

Income tax (benefit) provision

 

 

(3,346

)

 

 

(7,987

)

 

 

13,327

 

 

2,544

Depreciation and amortization

 

 

9,722

 

 

 

4,617

 

 

 

30,167

 

 

18,016

EBITDA

 

$

24,905

 

 

$

12,982

 

 

$

178,180

 

$

84,108

Stock-based compensation

 

 

11,166

 

 

 

7,284

 

 

 

40,625

 

 

29,117

Impairment of equity investment (a)

 

 

1,155

 

 

 

 

 

 

2,875

 

 

Loss on extinguishment of debt (b)

 

 

 

 

 

 

 

 

 

 

176

Other non-cash and non-recurring items (c)

 

 

3,704

 

 

 

977

 

 

 

13,061

 

 

3,380

Adjusted EBITDA

 

$

40,930

 

 

$

21,243

 

 

$

234,741

 

$

116,781

(a)

Represents an impairment of equity investment recorded during the three and twelve months ended March 31, 2024.

(b)

Loss on extinguishment of debt includes the write-off of existing debt issuance costs and certain fees paid related to the amended credit agreement.

(c)

Represents other non-cash or non-recurring items, which include amortization of internal-use software costs related to cloud applications, costs related to the acquisition of Naturium, and cloud computing ERP implementation costs.

e.l.f. Beauty, Inc. and subsidiaries

Reconciliation of GAAP SG&A to non-GAAP adjusted SG&A

(unaudited)

(in thousands)

 

 

 

Three months ended March 31,

 

Twelve months ended March 31,

 

 

2024

 

2023

 

2024

 

2023

Selling, general, and administrative expenses

 

$

210,172

 

 

$

121,081

 

 

$

574,418

 

 

$

322,253

 

Stock-based compensation

 

 

(11,145

)

 

 

(7,195

)

 

 

(40,609

)

 

 

(29,005

)

Other non-recurring items (a)

 

 

(2,134

)

 

 

 

 

 

(7,401

)

 

 

 

Adjusted selling, general, and administrative expenses

 

$

196,893

 

 

$

113,886

 

 

$

526,408

 

 

$

293,248

 

(a)

Represents non-recurring cloud computing ERP implementation costs and costs related to the acquisition of Naturium.

e.l.f. Beauty, Inc. and subsidiaries

Reconciliation of GAAP net income to non-GAAP adjusted net income

(unaudited)

(in thousands, except share and per share data)

 

 

 

Three months ended March 31,

 

Twelve months ended March 31,

 

 

2024

 

2023

 

2024

 

2023

Net income

 

$

14,527

 

 

$

16,246

 

 

$

127,663

 

 

$

61,530

 

Stock-based compensation

 

 

11,166

 

 

 

7,284

 

 

 

40,625

 

 

 

29,117

 

Other non-recurring items (a)

 

 

2,444

 

 

 

 

 

 

8,041

 

 

 

 

Impairment of equity investment (b)

 

 

1,155

 

 

 

 

 

 

2,875

 

 

 

 

Loss on extinguishment of debt (c)

 

 

 

 

 

 

 

 

 

 

 

176

 

Amortization of acquired intangible assets (d)

 

 

4,864

 

 

 

2,029

 

 

 

15,047

 

 

 

8,122

 

Tax Impact (e)

 

 

(3,311

)

 

 

(1,730

)

 

 

(10,485

)

 

 

(7,132

)

Adjusted net income

 

$

30,845

 

 

$

23,829

 

 

$

183,766

 

 

$

91,813

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares outstanding -

diluted

 

 

58,487,557

 

 

 

56,641,510

 

 

 

57,788,454

 

 

 

55,337,554

 

Adjusted diluted earnings per share

 

$

0.53

 

 

$

0.42

 

 

$

3.18

 

 

$

1.66

 

(a)

Represents non-recurring cloud computing ERP implementation costs and costs related to the acquisition of Naturium.

(b)

Represents an impairment of equity investment recorded during the three and twelve months ended March 31, 2024.

(c)

Loss on extinguishment of debt includes the write-off of existing debt issuance costs and certain fees paid related to the amended credit agreement.

(d)

Represents amortization expense of acquired intangible assets consisting of customer relationships and trademarks.

(e)

Represents the tax impact of the above adjustments.

 

Investors:

KC Katten

VP, Corporate Development & Investor Relations, e.l.f. Beauty

kkatten@elfbeauty.com

Media:

Melinda Fried

Head of Corporate Communications, e.l.f. Beauty

mfried@elfbeauty.com

Source: e.l.f. Beauty

FAQ

How much did e.l.f. Beauty's net sales grow in fiscal 2024?

e.l.f. Beauty's net sales grew by 77% in fiscal 2024, reaching over $1 billion.

What were e.l.f. Beauty's Q4 2024 net sales?

Q4 2024 net sales for e.l.f. Beauty were $321.1 million, a 71% increase compared to the same period last year.

What is e.l.f. Beauty's EPS for fiscal 2024?

The adjusted diluted earnings per share (EPS) for e.l.f. Beauty in fiscal 2024 was $3.18.

What was e.l.f. Beauty's adjusted EBITDA for fiscal 2024?

e.l.f. Beauty's adjusted EBITDA for fiscal 2024 was $234.7 million, up 101% year-over-year.

How much did e.l.f. Beauty spend on SG&A expenses in fiscal 2024?

In fiscal 2024, e.l.f. Beauty's SG&A expenses were $574.4 million, an increase of $252.2 million from the previous year.

What is the fiscal 2025 outlook for e.l.f. Beauty?

e.l.f. Beauty projects a 20-22% increase in net sales for fiscal 2025, with adjusted net income expected to be between $187-191 million.

What was the impact of the Naturium acquisition on e.l.f. Beauty?

e.l.f. Beauty acquired Naturium for $333 million, enhancing its skincare portfolio and furthering its mission to make the best of beauty accessible.

e.l.f. Beauty, Inc.

NYSE:ELF

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10.60B
53.41M
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Cosmetics, Beauty Supplies, and Perfume Stores
Retail Trade
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United States of America
OAKLAND

About ELF

launched in 2004, e.l.f. cosmetics is a revolutionary beauty brand that offers women everywhere the freedom to experiment and play to enhance their own unique beauty. at e.l.f., we believe every woman should have access to the best in beauty and that is our mission – to make luxurious beauty more accessible. in fact, our line of cosmetics and tools for eyes, lips and face start at just $1! we think of ourselves as the brand that challenges the expected in mass cosmetics through innovation, creativity and passion. we attribute our success to our consumer-driven business model that allows us to respond to real feedback in real time. our consumers are our biggest asset – hearing from you fuels our passion and continually inspires and motivates us. so please keep doing what you’re doing and we’ll keep doing what we’re doing. and together, we will make it easy to have fun with beauty every single day!