--- schema_version: "secwatch.filing_event.v1" accession: "0001600033-23-000005" form_type: "8-K" ticker: "ELF" cik: "0001600033" company_name: "e.l.f. Beauty, Inc." filed_at: "2023-02-01T23:59:59+00:00" generated_at: "2026-06-20T03:48:04.306599+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 Q3 net sales +49% to $146.5M; raises FY2023 guidance sharply ## Summary - GAAP diluted EPS $0.34; adjusted diluted EPS $0.48, up from $0.36 a year ago. - Gross margin expanded 180 bps to 67% on price increases and cost savings. - Fiscal 2023 net sales outlook raised to $541-545M (prev. $478-486M); adjusted EPS to $1.37-1.40 (prev. $1.07-1.10). - 16th consecutive quarter of net sales growth; market share gained 150 bps per Nielsen. - Cash and equivalents $87M, long-term debt $62.2M, improved vs. $32.9M / $92.5M a year ago. ## SEC filing metadata - accession: 0001600033-23-000005 - form_type: 8-K - ticker: ELF - cik: 0001600033 - company_name: e.l.f. Beauty, Inc. - filed_at: 2023-02-01T23:59:59+00:00 - event_type: earnings - sentiment: positive - materiality_score: 0.8 - calibrated_materiality_score: 0.8 - confidence: high - sec_items: 2.02, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1600033/000160003323000005/0001600033-23-000005-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1600033/000160003323000005/elf-20230201.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001600033-23-000005 - JSON: https://secwatch.observer/filing/0001600033-23-000005.json - Plain text: https://secwatch.observer/filing/0001600033-23-000005.txt ## Key facts - Earnings Releases e.l.f. Beauty, Inc. reported fiscal 2023 results: revenue $541-545 million, net income $75.5-77 million, EPS $1.37-1.40. Guidance raised. - Period: fiscal 2023 - Revenue: $541-545 million - Net income: $75.5-77 million - EPS: $1.37-1.40 - Guidance: raised - Result: guidance update source text: Updated Fiscal 2023 Outlook The Company is providing the following updated outlook for fiscal 2023. The updated outlook for fiscal 2023 reflects an expected 38-39% year-over-year increase in net sales, as compared to an expected 22-24% year-over-year increase previously. Updated Fiscal 2023 Outlook Previous Fiscal 2023 Outlook Net sales $541-545 million $478-486 million Adjusted EBITDA $110.5-112 million $93.5-95 million Adjusted effective tax rate 19% 22-23% Adjusted net income $75.5-77 million $59-60.5 million Adjusted diluted earnings per share $1.37-1.40 $1.07-1.10 Fiscal year ending diluted shares outstanding 56 million 56 million evidence_url: https://www.sec.gov/Archives/edgar/data/1600033/000160003323000005/0001600033-23-000005-index.htm - Earnings Releases e.l.f. Beauty, Inc. reported nine months ended December 31, 2022 results: revenue $391.5 million, net income $45.3 million, EPS $0.82. Guidance raised. - Period: nine months ended December 31, 2022 - Revenue: $391.5 million - Net income: $45.3 million - EPS: $0.82 - Guidance: raised - Result: reported results source text: For the nine months ended December 31, 2022 , compared to the nine months ended December 31, 2021: • Net sales increased 36% to $391.5 million, primarily driven by strength in both our retailer and e-commerce channels. • Gross margin increased approximately 255 basis points to 67%, primarily driven by price increases, cost savings, and product mix, partially offset by inventory adjustments and higher transportation costs. • SG&A increased $44.6 million to $201.2 million, or 51% of net sales. Adjusted SG&A increased $40.0 million to $179.4 million, or 46% of net sales. The increase was primarily due to an increase in marketing and digital spend, compensation and benefits, operations costs, retail fixturing and visual merchandising costs. • The provision for income taxes was $10.5 million. • Net income was $45.3 million on a GAAP basis. Adjusted net income was $68.0 million. • Diluted earnings per share were $0.82 on a GAAP basis. Adjusted diluted earnings per share were $1.24. evidence_url: https://www.sec.gov/Archives/edgar/data/1600033/000160003323000005/0001600033-23-000005-index.htm - Earnings Releases e.l.f. Beauty, Inc. reported three months ended December 31, 2022 results: revenue $146.5 million, net income $19.1 million, EPS $0.34. Guidance raised. - Period: three months ended December 31, 2022 - Revenue: $146.5 million - Net income: $19.1 million - EPS: $0.34 - Guidance: raised - Result: reported results source text: For the three months ended December 31, 2022 , compared to the three months ended December 31, 2021: • Net sales increased 49% to $146.5 million, primarily driven by strength in both our retailer and e-commerce channels. • Gross margin increased approximately 180 basis points to 67%, primarily driven by price increases, cost savings and product mix, partially offset by inventory adjustments and costs related to space gains and Spring shelf resets. • Selling, general and administrative expenses ("SG&A") increased $20.1 million to $75.4 million, or 51% of net sales. Adjusted SG&A (SG&A excluding the items identified in the reconciliation table below) increased $19.6 million to $68.2 million, or 47% of net sales. The increase was primarily due to an increase in marketing and digital spend, compensation and benefits, operations costs, retail fixturing and visual merchandising costs. • The provision for income taxes was $4.3 million. • Net income was $19.1 million on a GAAP basis. Adjusted evidence_url: https://www.sec.gov/Archives/edgar/data/1600033/000160003323000005/0001600033-23-000005-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.