Elf Beauty's Q4 net sales jump 71 percent

Elf Beauty’s fourth quarter net sales increased 71 percent to 321.1 million dollars, driven by strength across retail and ecommerce channels.

The company’s full year net sales increased 77 percent to 1,023.9 million dollars.

“Fiscal 2024 marked our strongest year of net sales growth on record, a continuation of the exceptional, consistent, category-leading growth we’ve delivered. In Q4, we grew net sales by 71 percent and expanded our market share by 325 basis points, marking our 21st consecutive quarter of net sales and market share growth,” said Tarang Amin, e.l.f. Beauty’s chairman and CEO.

Fourth quarter gross margin increased approximately 180 basis points to 71 percent, net income was 14.5 million dollars on a GAAP basis, while adjusted net income was 30.8 million dollars. Diluted earnings per share were 25 cents on a GAAP basis, while adjusted diluted earnings per share were 53 cents. Adjusted EBITDA was 40.9 million dollars or 13 percent of net sales, up 93 percent year over year.

Full year gross margin increased approximately 330 basis points to 71 percent, net income was 127.7 million dollars on a GAAP basis and adjusted net income was 183.8 million dollars. Diluted earnings per share were 2.21 dollars on a GAAP basis, while adjusted diluted earnings per share were 3.18 dollars. Adjusted EBITDA rose 101 percent to 234.7 million dollars or 23 percent.

The company expects a 20 to 22 percent increase in net sales to 1,230 to 1,250 million dollars for fiscal 2025. Adjusted EBITDA is forecasted to be in the range of 285 to 289 million dollars, adjusted net income is expected to range between 187 to 191 million dollars, and adjusted diluted earnings per share to be in the range of 3.20 to 3.25 dollars.