2021 Q1 Form 10-Q Financial Statement

#000160003321000011 Filed on February 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1 2019 Q4
Revenue $92.67M $74.71M $80.76M
YoY Change 24.04% 12.96% 2.79%
Cost Of Revenue $34.07M $26.65M $28.24M
YoY Change 27.84% 3.9% -10.78%
Gross Profit $58.60M $48.06M $52.52M
YoY Change 21.92% 18.7% 11.94%
Gross Profit Margin 63.23% 64.33% 65.03%
Selling, General & Admin $57.60M $46.78M $39.63M
YoY Change 23.13% 25.33% 16.92%
% of Gross Profit 98.29% 97.33% 75.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.370M $5.980M $5.690M
YoY Change 6.52% -20.73% 14.95%
% of Gross Profit 10.87% 12.44% 10.83%
Operating Expenses $57.83M $47.02M $39.63M
YoY Change 22.99% 25.98% 16.92%
Operating Profit $770.0K $1.044M $12.88M
YoY Change -26.25% -105.49% -1.08%
Interest Expense -$860.0K -$1.390M -$1.560M
YoY Change -38.13% -22.78% -20.41%
% of Operating Profit -111.69% -133.14% -12.11%
Other Income/Expense, Net -$50.00K -$180.0K -$335.0K
YoY Change -72.22% -42.86% -9.7%
Pretax Income -$2.780M -$520.0K $10.99M
YoY Change 434.62% -97.54% 2.79%
Income Tax -$2.760M -$180.0K $2.983M
% Of Pretax Income 27.16%
Net Earnings -$24.00K -$341.0K $8.002M
YoY Change -92.96% -98.1% -17.27%
Net Earnings / Revenue -0.03% -0.46% 9.91%
Basic Earnings Per Share $0.00 -$0.01 $0.16
Diluted Earnings Per Share $0.00 -$0.01 $0.16
COMMON SHARES
Basic Shares Outstanding 51.24M shares 49.96M shares 48.53M shares
Diluted Shares Outstanding 50.97M shares

Balance Sheet

Concept 2021 Q1 2020 Q1 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $57.80M $46.20M $74.70M
YoY Change 25.11% -14.29% 45.9%
Cash & Equivalents $57.77M $46.17M $74.74M
Short-Term Investments
Other Short-Term Assets $15.40M $10.30M $8.100M
YoY Change 49.51% 41.1% 8.0%
Inventory $56.81M $46.21M $48.38M
Prepaid Expenses
Receivables $40.19M $29.72M $35.08M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $170.1M $132.4M $166.3M
YoY Change 28.55% -3.58% 17.3%
LONG-TERM ASSETS
Property, Plant & Equipment $13.77M $17.17M $16.49M
YoY Change -19.81% 7.28% -24.39%
Goodwill $171.6M $171.3M $157.3M
YoY Change 0.17% 8.94% 0.0%
Intangibles $94.29M $102.4M $91.89M
YoY Change -7.93% 5.52% -6.97%
Long-Term Investments $2.900M $2.900M $2.900M
YoY Change 0.0% 0.0% 0.0%
Other Assets $34.70M $26.97M $21.47M
YoY Change 28.67% 27.07% 60.29%
Total Long-Term Assets $317.2M $320.7M $290.0M
YoY Change -1.09% 8.94% -1.4%
TOTAL ASSETS
Total Short-Term Assets $170.1M $132.4M $166.3M
Total Long-Term Assets $317.2M $320.7M $290.0M
Total Assets $487.4M $453.1M $456.3M
YoY Change 7.57% 4.96% 4.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.70M $12.39M $19.59M
YoY Change 26.71% -23.89% -4.36%
Accrued Expenses $41.35M $26.17M $29.77M
YoY Change 58.04% 40.75% 134.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $16.30M $12.60M $11.90M
YoY Change 29.37% 22.33% 20.2%
Total Short-Term Liabilities $73.33M $51.12M $61.30M
YoY Change 43.44% 13.28% 42.5%
LONG-TERM LIABILITIES
Long-Term Debt $110.3M $126.1M $129.2M
YoY Change -12.53% -8.62% -8.04%
Other Long-Term Liabilities $598.0K $591.0K $556.0K
YoY Change 1.18% -11.53% -79.93%
Total Long-Term Liabilities $598.0K $591.0K $556.0K
YoY Change 1.18% -11.53% -79.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $73.33M $51.12M $61.30M
Total Long-Term Liabilities $598.0K $591.0K $556.0K
Total Liabilities $217.7M $210.9M $213.8M
YoY Change 3.23% -2.56% 3.52%
SHAREHOLDERS EQUITY
Retained Earnings -$505.3M -$511.5M -$511.2M
YoY Change -1.22% -3.38% -0.06%
Common Stock $774.9M $753.7M $753.6M
YoY Change 2.82% 1.22% 1.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $269.6M $242.2M $242.4M
YoY Change
Total Liabilities & Shareholders Equity $487.4M $453.1M $456.3M
YoY Change 7.57% 4.96% 4.68%

Cashflow Statement

Concept 2021 Q1 2020 Q1 2019 Q4
OPERATING ACTIVITIES
Net Income -$24.00K -$341.0K $8.002M
YoY Change -92.96% -98.1% -17.27%
Depreciation, Depletion And Amortization $6.370M $5.980M $5.690M
YoY Change 6.52% -20.73% 14.95%
Cash From Operating Activities $27.53M $6.510M $20.79M
YoY Change 322.89% -20.76% 1.17%
INVESTING ACTIVITIES
Capital Expenditures -$2.510M -$2.350M -$1.540M
YoY Change 6.81% -169.12% -36.1%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$25.92M
YoY Change -100.0%
Cash From Investing Activities -$2.510M -$28.28M -$1.540M
YoY Change -91.12% 731.76% -36.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.680M -6.820M -3.260M
YoY Change -60.7% 217.65% 471.93%
NET CHANGE
Cash From Operating Activities 27.53M 6.510M 20.79M
Cash From Investing Activities -2.510M -28.28M -1.540M
Cash From Financing Activities -2.680M -6.820M -3.260M
Net Change In Cash 22.34M -28.59M 15.99M
YoY Change -178.14% -1171.19% -8.99%
FREE CASH FLOW
Cash From Operating Activities $27.53M $6.510M $20.79M
Capital Expenditures -$2.510M -$2.350M -$1.540M
Free Cash Flow $30.04M $8.860M $22.33M
YoY Change 239.05% 83.97% -2.74%

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<div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of estimates</span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.</span></div>
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us-gaap Nature Of Operations
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Nature of operationse.l.f. Beauty, Inc. (“e.l.f. Beauty,” and together with its subsidiaries, the “Company” or “we”) was formed as a Delaware corporation on December 20, 2013. e.l.f. Beauty is organized as a holding company and operates through its subsidiaries, e.l.f. Cosmetics, Inc. and W3LL PEOPLE, Inc. The Company’s brands are e.l.f Cosmetics, W3LL PEOPLE and Keys Soulcare. e.l.f. Cosmetics makes the best of beauty accessible to every eye, lip and face by offering high-quality, prestige-inspired cosmetics and skincare products at an extraordinary value, 100% vegan and cruelty-free. W3LL PEOPLE is a clean beauty pioneer, raising the standard for high-performance, plant-powered, cruelty-free cosmetics since 2008. Keys Soulcare is a lifestyle beauty brand created with artist, producer, actress and New York Times best-selling author Alicia Keys. With an inclusive point of view, an authentic voice and a line of skin-loving, dermatologist-developed, cruelty-free products, Keys Soulcare aims to bring new meaning to beauty by honoring ritual in our daily life and practicing intention in every action.
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OperatingLeaseRightOfUseAsset
7395000 USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
1351000 USD
CY2020Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2094000 USD
CY2019Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2342000 USD
CY2020Q4 elf Lease Rightof Use Asset
LeaseRightofUseAsset
21920000 USD
CY2020Q1 elf Lease Rightof Use Asset
LeaseRightofUseAsset
15762000 USD
CY2019Q4 elf Lease Rightof Use Asset
LeaseRightofUseAsset
9737000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3517000 USD
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3083000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2916000 USD
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
812000 USD
CY2020Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
812000 USD
CY2019Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
802000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
18370000 USD
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11239000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
5084000 USD
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
1594000 USD
CY2020Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2200000 USD
CY2019Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2407000 USD
CY2020Q4 elf Lease Liability
LeaseLiability
24293000 USD
CY2020Q1 elf Lease Liability
LeaseLiability
17334000 USD
CY2019Q4 elf Lease Liability
LeaseLiability
11209000 USD
CY2019Q1 elf Operating Lease Right Of Use Asset Derecognized As Part Of Restructuring Plan
OperatingLeaseRightOfUseAssetDerecognizedAsPartOfRestructuringPlan
15700000 USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
3700000 USD
CY2020Q1 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
2900000 USD
CY2019Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
2700000 USD
CY2020Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
1192000 USD
CY2019Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
778000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
3318000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
2161000 USD
CY2020Q4 elf Gain From Extinguishment Of Lease Liabilities Restructuring Income
GainFromExtinguishmentOfLeaseLiabilitiesRestructuringIncome
0 USD
CY2019Q4 elf Gain From Extinguishment Of Lease Liabilities Restructuring Income
GainFromExtinguishmentOfLeaseLiabilitiesRestructuringIncome
0 USD
elf Gain From Extinguishment Of Lease Liabilities Restructuring Income
GainFromExtinguishmentOfLeaseLiabilitiesRestructuringIncome
0 USD
elf Gain From Extinguishment Of Lease Liabilities Restructuring Income
GainFromExtinguishmentOfLeaseLiabilitiesRestructuringIncome
7733000 USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
248000 USD
CY2019Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
248000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
743000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
747000 USD
CY2020Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
33000 USD
CY2019Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
44000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
107000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
138000 USD
CY2020Q4 elf Total Lease Gain Costs
TotalLeaseGainCosts
1473000 USD
CY2019Q4 elf Total Lease Gain Costs
TotalLeaseGainCosts
1070000 USD
elf Total Lease Gain Costs
TotalLeaseGainCosts
4168000 USD
elf Total Lease Gain Costs
TotalLeaseGainCosts
-4687000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1014000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
236000 USD
CY2020Q4 elf Lease Liability Payments Remainderof Fiscal Year
LeaseLiabilityPaymentsRemainderofFiscalYear
1250000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4243000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
908000 USD
CY2020Q4 elf Lease Liability Payments Due Year One
LeaseLiabilityPaymentsDueYearOne
5151000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3978000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
1208000 USD
CY2020Q4 elf Lease Liability Payments Due Year Two
LeaseLiabilityPaymentsDueYearTwo
5186000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4078000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
235000 USD
CY2020Q4 elf Lease Liability Payments Due Year Three
LeaseLiabilityPaymentsDueYearThree
4313000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3678000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 USD
CY2020Q4 elf Lease Liability Payments Due Year Four
LeaseLiabilityPaymentsDueYearFour
3678000 USD
CY2020Q4 elf Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
7103000 USD
CY2020Q4 elf Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
0 USD
CY2020Q4 elf Lease Liability Payments Due After Year Four
LeaseLiabilityPaymentsDueAfterYearFour
7103000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
24094000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
2587000 USD
CY2020Q4 elf Lease Liability Payments Due
LeaseLiabilityPaymentsDue
26681000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2207000 USD
CY2020Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
181000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
21887000 USD
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
2406000 USD
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y4M24D
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y6M
CY2019Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.028
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.046
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.052
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.052
us-gaap Operating Lease Payments
OperatingLeasePayments
2700000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
9700000 USD

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