ELF earnings analysis
What we found in ELF's 10-K: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
e.l.f. Beauty delivered strong growth in fiscal 2026, with net sales increasing 25% year-over-year to $1,636.5 million, bolstered by acquisitions and strong retailer performance. However, margins tightened due to higher costs, reflected in a gross margin of 71% and a decrease in net income to $26.3 million. The company continues to prioritize investments in marketing and product innovation, while navigating challenges from tariffs and inflation.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Revenue Growth
- Net sales rose 25% to $1,636.5 million in fiscal 2026, driven by the rhode acquisition, which contributed $293.5 million.
- E-commerce Surge
- E-commerce sales grew 63% year-over-year, accounting for $144.7 million of the sales increase.
- Positive Cash Flow
- Net cash provided by operating activities was $212.5 million, significantly improving from $133.8 million in 2025.
- Diversified Brand Portfolio
- e.l.f. Beauty's brands including Naturium and rhode are expected to enhance product offerings and market reach.
- Tariff Impact Acknowledged
- The company paid approximately $58.5 million in tariffs during fiscal 2026, affecting margins.
- Acquisition Strategy in Focus
- The company actively pursued acquisitions, including Naturium for $333.0 million and rhode for $897.5 million, aiming for expansion.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased SG&A Expenses
- SG&A expenses increased 32% to $1,026.1 million, impacting profitability margins.
- Legal Challenges from Tariffs
- Ongoing legal issues regarding tariffs could lead to supply chain disruptions and increased costs.
- Market Performance Volatility
- Net income was notably reduced to $26.3 million from $112.1 million due to higher costs and acquired brand management.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.44
- Gross margin
- 71%
- Operating margin
- 4%
What they said about what is next.
Annual outlook deferred to earnings press release / call.
The filing reads about the same as the one before it.
What came before.
- 10-Q · November 10, 2025
- Revenue rose to $343,936 (as reported) for the quarter, driven by U.S. strength and the recently closed rhode acquisition (rhode contributed $52.4 million of net sales). However, gross margin compressed to 69.5% and…
- 10-Q · August 7, 2025
- e.l.f. Beauty reported quarterly net sales of $353,739,000 (up from $324,477,000 a year ago) and GAAP diluted EPS of $0.58 (down from $0.81 a year ago). Gross profit was $244,541,000, producing a gross margin of ~69.15%…
- 10-K · May 29, 2025
- e.l.f. Beauty positions itself as a digitally-native, value-oriented multi-brand beauty company focused on premium-quality, clean, vegan products at accessible price points (e.g., e.l.f. Cosmetics average product price…
- 10-Q · August 9, 2024
- e.l.f. Beauty reported impressive Q1 results for the three months ended June 30, 2024. Revenue surged to $324.5 million, a considerable increase from $216.3 million in the prior year, alongside a 25.0% rise in diluted…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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