e.l.f. Beauty Announces Fourth Quarter Fiscal 2026 Results (Form 8-K)

e.l.f. Beauty Announces Fourth Quarter Fiscal 2026 Results

- Delivered Fiscal 2026 net sales growth of 25% year over year -

- Provides Fiscal 2027 outlook -

OAKLAND, California; May 20, 2026 - e.l.f. Beauty (NYSE: ELF) today announced results for the three and twelve months ended March 31, 2026.

"Fiscal 26 marked our 7th consecutive year of net sales and market share growth-a track record that reflects the strength of our team, strategy and portfolio of brands," said Tarang Amin, e.l.f. Beauty's Chairman and Chief Executive Officer. "All five of our brands grew this year, with rhode and Naturium delivering particularly strong results and reinforcing the power of our expanding brand portfolio. The whitespace opportunity in front of us across brands, categories, and geographies gives us great confidence in the runway ahead."

Three Months Ended March 31, 2026 Results

For the three months ended March 31, 2026, compared to the three months ended March 31, 2025:

•Net sales increased 35% to $449.3 million, primarily driven by growth in both our retailer and e-commerce channels, in the US and internationally.

•Gross margin increased approximately 140 basis points to 73%, primarily driven by benefits from pricing, partially offset by higher tariffs.

•Selling, general and administrative ("SG&A") expenses increased $126.4 million to $319.1 million. Adjusted SG&A (SG&A excluding the items identified in the reconciliation table below) increased $126.6 million to $300.0 million. The increase in SG&A is primarily related to an increase in marketing, merchandising and distribution costs, compensation and benefits, depreciation and amortization, professional fees and regulatory fees.

•Change in fair value of contingent consideration related to the acquisition of rhode (the "rhode Acquisition"). The Company recorded a fair value adjustment of $57.6 million for the fiscal year ended March 31, 2026, driven by the outperformance of rhode's revenue results relative to the earnout thresholds set forth in the merger agreement entered into in connection with the rhode Acquisition.

•Other income, net decreased $1.6 million to $1.0 million, primarily driven by an increase in foreign currency losses for the period attributable to currency rate fluctuation.

•Net loss was $49.4 million on a GAAP basis. Adjusted net income (net income excluding the items identified in the reconciliation table below) was $19.4 million.

•Diluted loss per share was $0.82 per share on a GAAP basis. Adjusted diluted earnings per share (diluted earnings per share calculated with adjusted net income excluding the items identified in the reconciliation table below) were $0.32.

•Adjusted EBITDA (EBITDA excluding the items identified in the reconciliation table below) was $58.8 million, or 13% of net sales, down 28% year over year.

Twelve Months Ended March 31, 2026 Results

For the twelve months ended March 31, 2026, compared to the twelve months ended March 31, 2025:

•Net sales increased 25% to $1,636.5 million, primarily driven by growth in both our retailer and e-commerce channels, in the US and internationally.

•Gross margin decreased approximately 50 basis points to 71%, primarily driven by higher tariff costs, partially offset by benefits from pricing.

•Selling, general and administrative ("SG&A") expenses increased $248.4 million to $1,026.1 million. Adjusted SG&A (SG&A excluding the items identified in the reconciliation table below) increased $228.8 million to $919.7 million. The increase in SG&A is primarily related to an increase in marketing, merchandising and distribution costs, compensation and benefits, depreciation and amortization, professional fees and regulatory fees.

•Change in fair value of contingent consideration related to the rhode Acquisition. The Company recorded a fair value adjustment of $57.6 million for the fiscal year ended March 31, 2026, driven by the outperformance of rhode's revenue results relative to the earnout thresholds set forth in the merger agreement entered into in connection with the rhode Acquisition.

•Other income, net increased $1.5 million to $2.8 million, primarily driven by income from insurance recovery and a decrease in foreign currency losses for the period attributable to currency rate fluctuation.

•Net income was $26.3 million on a GAAP basis. Adjusted net income (net income excluding the items identified in the reconciliation table below) was $185.9 million.

•Diluted earnings per share was $0.44 per share on a GAAP basis. Adjusted diluted earnings per share (diluted earnings per share calculated with adjusted net income excluding the items identified in the reconciliation table below) were $3.13.

•Adjusted EBITDA (EBITDA excluding the items identified in the reconciliation table below) was $335.2 million, or 20% of net sales, up 13% year over year.

Liquidity

As of March 31, 2026, the Company had $289.7 million in cash and cash equivalents, and $841.7 million of total debt, as compared to $148.7 million in cash and cash equivalents and $256.7 million of total debt outstanding as of March 31, 2025.

Fiscal 2027 Outlook

The Company is providing the following outlook for fiscal 2027. When compared to fiscal 2026, the outlook for fiscal 2027 reflects an expected 12-14% increase in net sales.

			Fiscal 2027 Outlook						Fiscal 2026 Actuals
Net sales			$1,835-1,865 million						$1,636 million
Adjusted EBITDA			$379-385 million						$335 million
Adjusted effective tax rate			25-26%						23%
Adjusted net income			$198-201 million						$186 million
Adjusted diluted earnings per share			$3.27-3.32						$3.13
Weighted average diluted shares outstanding			60.5 million						59 million

Webcast Details

The Company will hold a webcast to discuss the results from its fourth quarter fiscal 2026 today, May 20, 2026, at 4:30 p.m. Eastern Time. The webcast will be broadcast live at https://investor.elfbeauty.com/stock-and-financial/events-and-presentations. For those unable to listen to the live broadcast, an archived version will be available at the same location.

About e.l.f. Beauty

e.l.f. Beauty (NYSE: ELF) is a different kind of company that disrupts norms, shapes culture and connects communities, through positivity, inclusivity and accessibility. The mission is clear: to make the best of beauty accessible to every eye, lip and face. e.l.f. Beauty and its brands, e.l.f. Cosmetics, e.l.f. SKIN, rhode, Naturium and Well People, are led by purpose and driven by results. e.l.f. Beauty offers e.l.f. clean and vegan products, all double-certified by PETA and Leaping Bunny as cruelty free, and proudly stands as the first beauty company with Fair Trade Certified™ facilities. With a kind heart at the center of e.l.f.'s ethos, the company donates 2% of net profits to organizations that make positive impacts.

Learn more at https://www.elfbeauty.com/

Note Regarding non-GAAP Financial Measures