E.l.f. Beauty shared its financial results for the three and six months ended September 30, 2024. Net sales increased by 40% to $301.1 million in the three months.
Tarang Amin, e.l.f. Beauty’s Chairman and CEO said,
“Q2 marked another quarter of consistent, category-leading growth. In Q2, we delivered 40% net sales growth, fueled by 195 basis points of market share gains in the U.S. and 91% net sales growth internationally. This was our 23rd consecutive quarter of both net sales growth and market share gains. We continue to make progress across color cosmetics, skincare, and international and believe our unique areas of advantage will fuel our ability to win in fiscal 2025 and beyond.”
Three-month growth was primarily driven by strength in its retailer and e-commerce channels, U.S. and internationally.
Gross margin during this time increased approximately 40 basis points to 71%, primarily driven by cost savings, favorable foreign exchange impacts, and price increases in our international markets, partially offset by mix and higher transportation costs.
Net income in the first three months was $19.0 million on a GAAP basis. The adjusted net income was $45.0 million.
For the six months ended September 30, 2024, net sales increased 45% to $625.6 million, primarily driven by strength in both retailer and e-commerce channels in the U.S. and internationally.
Gross margin increased approximately 60 basis points to 71%, primarily driven by cost savings, favorable foreign exchange impacts, and price increases in our international markets, partially offset by mix and inventory adjustments.
Net income was $66.6 million on a GAAP basis, and adjusted net income was $109.3 million.
Tarang Amin, e.l.f. Beauty’s Chairman and CEO said,
“Q2 marked another quarter of consistent, category-leading growth. In Q2, we delivered 40% net sales growth, fueled by 195 basis points of market share gains in the U.S. and 91% net sales growth internationally. This was our 23rd consecutive quarter of both net sales growth and market share gains. We continue to make progress across color cosmetics, skincare, and international and believe our unique areas of advantage will fuel our ability to win in fiscal 2025 and beyond.”
Three-month growth was primarily driven by strength in its retailer and e-commerce channels, U.S. and internationally.
Gross margin during this time increased approximately 40 basis points to 71%, primarily driven by cost savings, favorable foreign exchange impacts, and price increases in our international markets, partially offset by mix and higher transportation costs.
Net income in the first three months was $19.0 million on a GAAP basis. The adjusted net income was $45.0 million.
For the six months ended September 30, 2024, net sales increased 45% to $625.6 million, primarily driven by strength in both retailer and e-commerce channels in the U.S. and internationally.
Gross margin increased approximately 60 basis points to 71%, primarily driven by cost savings, favorable foreign exchange impacts, and price increases in our international markets, partially offset by mix and inventory adjustments.
Net income was $66.6 million on a GAAP basis, and adjusted net income was $109.3 million.
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