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…
Earnings analysis · 10-K
ELF earnings analysis
Filed May 20, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.44
What stood out
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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.
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E-commerce Surge
E-commerce sales grew 63% year-over-year, accounting for $144.7 million of the sales increase.
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Positive Cash Flow
Net cash provided by operating activities was $212.5 million, significantly improving from $133.8 million in 2025.
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Diversified Brand Portfolio
e.l.f. Beauty's brands including Naturium and rhode are expected to enhance product offerings and market reach.
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Tariff Impact Acknowledged
The company paid approximately $58.5 million in tariffs during fiscal 2026, affecting margins.
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Acquisition Strategy in Focus
The company actively pursued acquisitions, including Naturium for $333.0 million and rhode for $897.5 million, aiming for expansion.
What to watch
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Increased SG&A Expenses
SG&A expenses increased 32% to $1,026.1 million, impacting profitability margins.
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Legal Challenges from Tariffs
Ongoing legal issues regarding tariffs could lead to supply chain disruptions and increased costs.
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Market Performance Volatility
Net income was notably reduced to $26.3 million from $112.1 million due to higher costs and acquired brand management.
Management's outlook
Annual outlook deferred to earnings press release / call.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.