e.l.f. Beauty, Inc. reported significant financial growth in its latest quarterly filing, with net sales reaching $355.3 million for the three months ended December 31, 2024, a 31% increase from $270.9 million in the same period last year. For the nine months ending December 31, 2024, net sales totaled $980.9 million, up 40% from $702.8 million in the prior year. The company's gross profit also saw a substantial rise, increasing to $253.3 million for the quarter, a 32% increase year-over-year, while gross margin remained stable at 71%. However, net income for the quarter decreased to $17.3 million, down from $26.9 million in the previous year, reflecting increased selling, general, and administrative expenses, which rose by 36% to $218.2 million.
The filing highlighted several strategic developments, including the acquisition of Naturium LLC, completed on October 4, 2023, for approximately $333 million. This acquisition is expected to enhance e.l.f. Beauty's product offerings in the skincare segment. The company has also expanded its international presence, with significant sales growth in both U.S. and international markets, particularly in e-commerce, which saw a 63% increase in sales. The company reported a total of 56.4 million shares outstanding as of January 30, 2025, reflecting ongoing stock repurchase activities.
Operationally, e.l.f. Beauty has focused on enhancing its marketing and digital capabilities, which contributed to increased customer engagement and sales. The company reported a significant increase in marketing expenditures, which rose by $93.4 million for the nine months ended December 31, 2024. Despite the increase in expenses, the company believes that these investments are crucial for sustaining growth and maintaining competitive positioning in the beauty industry. The company also noted a rise in employee headcount, reflecting its expansion efforts.
Looking ahead, e.l.f. Beauty expressed optimism about its growth trajectory, driven by its commitment to innovation and product development. The company anticipates continued demand for its products, particularly in the e-commerce space, and plans to leverage its recent acquisition to enhance its market position. However, the company acknowledged potential risks, including competitive pressures, supply chain disruptions, and economic uncertainties that could impact future performance. The management remains focused on executing its growth strategy while navigating these challenges.
About e.l.f. Beauty, Inc.
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