Net sales increased 76% to $215.5 million for the 3 months ended September 30, 2023 compared to the prior year period, primarily driven by strength in both retailer and e-commerce channels.
For the six months ended September 30, 2023, compared to the six months ended September 30, 2022, net sales increased 76% to $431.8 million, primarily driven by strength in both retailer and e-commerce channels.
“We continue to deliver exceptional, consistent, category-leading sales growth,” said Tarang Amin, e.l.f. Beauty‘s chairman and chief executive officer. “In Q2, we grew net sales by 76% and category share by 330 basis points, marking our 19th consecutive quarter of growth in each. As we look ahead, the significant whitespace we see across color cosmetics, skin care and international gives us confidence that we are in the early innings of unlocking the full potential we see for e.l.f. Beauty.”
Updated 2024 Outlook
The company provided an updated outlook for fiscal 2024 which reflects an expected 55-57% year-over-year increase in net sales, as compared to an expected 37-39% increase previously.
In fiscal 2023, e.l.f. beauty’s net sales increased 48% to $578.8 million, driven by strength across retailer and e-commerce channels.
On October 4, 2023, the Company closed on the acquisition of Naturium, a fast-growing, high performance skin care brand, for $355 million in a combination of cash and Company stock.