--- schema_version: "secwatch.filing_event.v1" accession: "0001600033-22-000043" form_type: "8-K" ticker: "ELF" cik: "0001600033" company_name: "e.l.f. Beauty, Inc." filed_at: "2022-11-02T23:59:59+00:00" generated_at: "2026-06-22T14:00:21.204720+00:00" event_type: "earnings" sentiment: "positive" materiality_score: 0.8 calibrated_materiality_score: 0.8 confidence: "high" source: SEC EDGAR --- # e.l.f. Beauty Q2 net sales up 33% to $122.3M; raises FY2023 outlook ## Summary - Net sales $122.3M (+33% YoY); 15th consecutive quarter of growth. - Adjusted EPS $0.36 vs. $0.21 GAAP; gross margin improved 190 bps to 65%. - Raised FY2023 net sales guidance to $478-486M (previous $448-456M); adj. EPS now $1.07-1.10. - Director Kirk Perry resigns effective Nov 4, 2022; Gayle Tait appointed as Class I director. - Adjusted EBITDA $27.3M, 22% of net sales, up 47% YoY. ## SEC filing metadata - accession: 0001600033-22-000043 - form_type: 8-K - ticker: ELF - cik: 0001600033 - company_name: e.l.f. Beauty, Inc. - filed_at: 2022-11-02T23:59:59+00:00 - event_type: earnings - sentiment: positive - materiality_score: 0.8 - calibrated_materiality_score: 0.8 - confidence: high - sec_items: 2.02, 5.02, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1600033/000160003322000043/0001600033-22-000043-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1600033/000160003322000043/elf-20221027.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001600033-22-000043 - JSON: https://secwatch.observer/filing/0001600033-22-000043.json - Plain text: https://secwatch.observer/filing/0001600033-22-000043.txt ## Key facts - Earnings Releases e.l.f. Beauty, Inc. reported Second Quarter Fiscal 2023 results: revenue $122.3 million, net income $11.7 million, EPS $0.21. Guidance raised. - Period: Second Quarter Fiscal 2023 - Revenue: $122.3 million - Net income: $11.7 million - EPS: $0.21 - Guidance: raised - Result: reported results source text: Net sales increased 33% to $122.3 million, primarily driven by strength in both our retailer and e-commerce channels. • Gross margin increased approximately 190 basis points to 65%, primarily driven by price increases, cost savings and product mix, partially offset by inventory adjustments and higher transportation costs. • Selling, general and administrative expenses ("SG&A") increased $13.7 million to $64.2 million, or 52% of net sales. Adjusted SG&A (SG&A excluding the items identified in the reconciliation table below) increased $11.0 million to $56.2 million, or 46% of net sales. The increase was primarily due to an increase in compensation and benefits, marketing and digital spend, and operations costs. • The provision for income taxes was $1.6 million. • Net income was $11.7 million on a GAAP basis. Adjusted net income (net income excluding the items identified in the reconciliation table below) was $20.1 million. • Diluted earnings per share were $0.21 on a GAAP basis. evidence_url: https://www.sec.gov/Archives/edgar/data/1600033/000160003322000043/0001600033-22-000043-index.htm - Earnings Releases e.l.f. Beauty, Inc. reported the six months ended September 30, 2022 results: revenue $245.0 million, net income $26.2 million, EPS $0.48. Guidance raised. - Period: the six months ended September 30, 2022 - Revenue: $245.0 million - Net income: $26.2 million - EPS: $0.48 - Guidance: raised - Result: reported results source text: Six Months Ended September 30, 2022 Results For the six months ended September 30, 2022 , compared to the six months ended September 30, 2021: • Net sales increased 30% to $245.0 million, primarily driven by strength in both our retailer and e-commerce channels. • Gross margin increased approximately 290 basis points to 66%, primarily driven by price increases, cost savings, and product mix, partially offset by inventory adjustments and higher transportation costs. • SG&A increased $24.5 million to $125.7 million, or 51% of net sales. Adjusted SG&A increased $20.4 million to $111.2 million, or 45% of net sales. The increase was primarily due to an increase in compensation and benefits, marketing and digital spend and operations costs. • The provision for income taxes was $6.3 million. • Net income was $26.2 million on a GAAP basis. Adjusted net income was $41.2 million. • Diluted earnings per share were $0.48 on a GAAP basis. evidence_url: https://www.sec.gov/Archives/edgar/data/1600033/000160003322000043/0001600033-22-000043-index.htm - Earnings Releases e.l.f. Beauty, Inc. reported Fiscal 2023 results: revenue $478-486 million, net income $59.0-60.5 million, EPS $1.07-1.10. Guidance raised. - Period: Fiscal 2023 - Revenue: $478-486 million - Net income: $59.0-60.5 million - EPS: $1.07-1.10 - Guidance: raised - Result: guidance update source text: Updated Fiscal 2023 Outlook Previous Fiscal 2023 Outlook Net sales $478-486 million $448-456 million Adjusted EBITDA $93.5-95.0 million $83.5-85.0 million Adjusted effective tax rate 22-23% 25-26% Adjusted net income $59.0-60.5 million $47.0-48.5 million Adjusted diluted earnings per share $1.07-1.10 $0.84-0.87 Fiscal year ending diluted shares outstanding 56 million 56 million evidence_url: https://www.sec.gov/Archives/edgar/data/1600033/000160003322000043/0001600033-22-000043-index.htm - Executive change Gayle Tait was appointed as Class I Director at e.l.f. Beauty, Inc.. - Action: appointed - Role: Class I Director source text: On October 31, 2022, the Board appointed Gayle Tait to the Board as a Class I director, effective on November 4, 2022 evidence_url: https://www.sec.gov/Archives/edgar/data/1600033/000160003322000043/0001600033-22-000043-index.htm - Executive change Kirk Perry resigned as Director at e.l.f. Beauty, Inc.. - Action: resigned - Role: Director source text: On October 27, 2022 , Kirk Perry resigned from the Board of Directors (the “ Board ”) of the Company, effective as of November 4, 2022. evidence_url: https://www.sec.gov/Archives/edgar/data/1600033/000160003322000043/0001600033-22-000043-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.