E.l.f. Beauty Surpasses $1 Billion in Annual Sales

After 21 consecutive quarters of development, E.l.f. Magnificence has lastly hit the $1 billion mark in annual gross sales.

In its fiscal fourth-quarter earnings launched Thursday, the wonder firm reported that gross sales elevated 77 p.c to over $1.02 billion for the 12 months ending on Mar. 31, 2024. In its fourth quarter, the corporate noticed 71 p.c gross sales development to $321.1 million.

E.l.f. Magnificence reached $1 billion ahead of anticipated, exceeding its full-year outlook of $980 to $990 million predicted in its fiscal third-quarter earnings report in February. Adjusted earnings earlier than curiosity, tax, depreciation and amortisation grew by 101 p.c year-over-year to $234.7 million, rising 93 p.c in the latest quarter.

However the firm’s share worth fell after it reported that development will possible decelerate within the coming fiscal yr. For its fiscal 2025 outlook, it predicted that web gross sales development will reasonable to between 20 and 22 p.c for $1.23 to $1.25 billion in gross sales.

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E.l.f. Beauty Reports 85 Percent Sales Growth and Raises Outlook

Reasonably priced worth factors, viral merchandise and a digital-focused advertising and marketing technique proceed to be drivers for the model’s development.