2022 Q1 Form 10-Q Financial Statement

#000160003322000009 Filed on February 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021 Q3
Revenue $105.1M $98.12M $91.86M
YoY Change 13.45% 10.79% 26.96%
Cost Of Revenue $37.64M $33.78M $33.87M
YoY Change 10.46% 7.42% 34.34%
Gross Profit $67.50M $64.34M $57.99M
YoY Change 15.19% 12.64% 23.01%
Gross Profit Margin 64.2% 65.58% 63.13%
Selling, General & Admin $65.23M $55.38M $50.45M
YoY Change 13.24% 8.96% 11.68%
% of Gross Profit 96.63% 86.08% 87.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.766M $6.968M $7.127M
YoY Change 6.22% 12.21% 15.51%
% of Gross Profit 10.02% 10.83% 12.29%
Operating Expenses $65.33M $55.38M $50.45M
YoY Change 12.97% 8.96% 11.68%
Operating Profit $2.168M $8.971M $7.442M
YoY Change 181.56% 42.6% 278.15%
Interest Expense -$529.0K -$570.0K -$597.0K
YoY Change -38.49% -33.72% -34.4%
% of Operating Profit -24.4% -6.35% -8.02%
Other Income/Expense, Net -$484.0K -$146.0K -$646.0K
YoY Change 868.0% -78.43% -24.8%
Pretax Income $1.173M $8.255M $6.199M
YoY Change -142.19% 73.46% 2938.73%
Income Tax -$383.0K $2.041M $475.0K
% Of Pretax Income -32.65% 24.72% 7.66%
Net Earnings $1.556M $6.214M $5.724M
YoY Change -6583.33% 44.61% 1180.54%
Net Earnings / Revenue 1.48% 6.33% 6.23%
Basic Earnings Per Share $0.03 $0.12 $0.11
Diluted Earnings Per Share $0.03 $0.12 $0.11
COMMON SHARES
Basic Shares Outstanding 52.12M shares 51.07M shares 50.88M shares
Diluted Shares Outstanding 53.89M shares 53.54M shares

Balance Sheet

Concept 2022 Q1 2021 Q4 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.35M $32.89M $41.69M
YoY Change -24.99% -7.09% 1.69%
Cash & Equivalents $43.35M $32.89M $41.69M
Short-Term Investments
Other Short-Term Assets $19.61M $19.81M $18.42M
YoY Change 27.34% 69.3% 48.55%
Inventory $84.50M $85.25M $76.82M
Prepaid Expenses
Receivables $45.57M $47.18M $44.37M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $193.0M $185.1M $181.3M
YoY Change 13.45% 15.49% 19.47%
LONG-TERM ASSETS
Property, Plant & Equipment $10.58M $12.23M $13.95M
YoY Change -23.19% -27.15% -14.29%
Goodwill $171.6M $171.6M $171.6M
YoY Change 0.0% 0.0% 0.0%
Intangibles $86.16M $88.19M $90.23M
YoY Change -8.62% -8.43% -8.26%
Long-Term Investments $2.875M $2.875M $2.875M
YoY Change -0.86% -0.86% -0.86%
Other Assets $30.37M $30.91M $33.04M
YoY Change -12.48% -6.39% 1.51%
Total Long-Term Assets $301.6M $305.8M $311.7M
YoY Change -4.93% -4.61% -3.1%
TOTAL ASSETS
Total Short-Term Assets $193.0M $185.1M $181.3M
Total Long-Term Assets $301.6M $305.8M $311.7M
Total Assets $494.6M $491.0M $493.0M
YoY Change 1.49% 2.09% 4.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.23M $22.76M $19.30M
YoY Change 22.47% 13.17% -6.06%
Accrued Expenses $40.00M $33.98M $32.67M
YoY Change -3.26% 8.48% 24.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $5.786M $5.780M $19.25M
YoY Change -64.5% -62.22% 35.59%
Total Short-Term Liabilities $65.02M $62.51M $71.22M
YoY Change -11.34% -6.25% 16.7%
LONG-TERM LIABILITIES
Long-Term Debt $91.08M $92.47M $93.87M
YoY Change -17.43% -19.17% -20.86%
Other Long-Term Liabilities $769.0K $758.0K $803.0K
YoY Change 28.6% 29.57% 55.62%
Total Long-Term Liabilities $769.0K $758.0K $803.0K
YoY Change 28.6% 29.57% 55.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $65.02M $62.51M $71.22M
Total Long-Term Liabilities $769.0K $758.0K $803.0K
Total Liabilities $182.2M $185.5M $198.9M
YoY Change -16.32% -14.25% -9.07%
SHAREHOLDERS EQUITY
Retained Earnings -$483.5M -$485.1M -$491.3M
YoY Change -4.31% -4.0% -3.59%
Common Stock $796.0M $790.6M $785.4M
YoY Change 2.71% 2.69% 2.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $312.4M $305.5M $294.1M
YoY Change
Total Liabilities & Shareholders Equity $494.6M $491.0M $493.0M
YoY Change 1.49% 2.09% 4.14%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021 Q3
OPERATING ACTIVITIES
Net Income $1.556M $6.214M $5.724M
YoY Change -6583.33% 44.61% 1180.54%
Depreciation, Depletion And Amortization $6.766M $6.968M $7.127M
YoY Change 6.22% 12.21% 15.51%
Cash From Operating Activities $11.69M $7.052M -$6.718M
YoY Change -57.55% -583.01% -20.12%
INVESTING ACTIVITIES
Capital Expenditures -$222.0K -$947.0K -$1.313M
YoY Change -91.16% -21.74% -17.42%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$222.0K -$947.0K -$1.313M
YoY Change -91.16% -21.74% -17.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.001M -14.91M -13.68M
YoY Change -62.65% 408.87% 330.09%
NET CHANGE
Cash From Operating Activities 11.69M 7.052M -6.718M
Cash From Investing Activities -222.0K -947.0K -1.313M
Cash From Financing Activities -1.001M -14.91M -13.68M
Net Change In Cash 10.46M -8.805M -21.71M
YoY Change -53.16% 57.23% 64.7%
FREE CASH FLOW
Cash From Operating Activities $11.69M $7.052M -$6.718M
Capital Expenditures -$222.0K -$947.0K -$1.313M
Free Cash Flow $11.91M $7.999M -$5.405M
YoY Change -60.36% -3299.6% -20.75%

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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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Nature of operations<div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">e.l.f. Beauty, Inc., a Delaware corporation (“e.l.f. Beauty” and together with its subsidiaries, the “Company,” or “we”), is a multi-brand beauty company that offers inclusive, accessible, cruelty-free cosmetics and skincare products. Our mission is to make the best of beauty accessible to every eye, lip and face.</span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We believe our ability to deliver 100% cruelty-free, premium-quality products at accessible prices with broad appeal differentiates us in the beauty industry. We believe the combination of our fundamental value equation, digitally-led strategy, as well as our world-class team’s ability to execute with speed, has positioned us well to navigate a rapidly changing landscape in beauty.</span></div><div><span><br/></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%">Our family of brands includes e.l.f. Cosmetics, e.l.f. Skin, Well People and Keys Soulcare. Our brands are available online and across leading beauty, mass-market, and clean-beauty specialty retailers. We have strong relationships with our retail partners such as Walmart, Target, Ulta Beauty and other leading retailers that have enabled us to expand distribution both domestically and internationally.</span></div>
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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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20214000 USD
us-gaap Net Income Loss
NetIncomeLoss
6256000 USD
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.40
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51072639 shares
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49459837 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50831985 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49178138 shares
CY2021Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2818799 shares
CY2020Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2875984 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2782925 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2497513 shares
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53891438 shares
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52335821 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53614910 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51675651 shares
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.38
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
CY2021Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2020Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
368722 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3111 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1264790 shares
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
five years
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18982000 USD
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
22691000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
20569000 USD
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
769000 USD
CY2021Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
1100000 USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
1351000 USD
CY2021Q4 elf Lease Rightof Use Asset
LeaseRightofUseAsset
19751000 USD
CY2021Q1 elf Lease Rightof Use Asset
LeaseRightofUseAsset
23791000 USD
CY2020Q4 elf Lease Rightof Use Asset
LeaseRightofUseAsset
21920000 USD
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4243000 USD
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4292000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3517000 USD
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
780000 USD
CY2021Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
812000 USD
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
812000 USD
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
16659000 USD
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
20084000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
18370000 USD
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
832000 USD
CY2021Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
1388000 USD
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
1594000 USD
CY2021Q4 elf Lease Liability
LeaseLiability
22514000 USD
CY2021Q1 elf Lease Liability
LeaseLiability
26576000 USD
CY2020Q4 elf Lease Liability
LeaseLiability
24293000 USD
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
2900000 USD
CY2021Q1 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
3200000 USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
3700000 USD
CY2021Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
1221000 USD
CY2020Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
1192000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
3533000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
3318000 USD
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
105000 USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
248000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
331000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
743000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
204000 USD
CY2021Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
13000 USD
CY2020Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
33000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
52000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
107000 USD
CY2021Q4 elf Total Lease Gain Costs
TotalLeaseGainCosts
1339000 USD
CY2020Q4 elf Total Lease Gain Costs
TotalLeaseGainCosts
1473000 USD
elf Total Lease Gain Costs
TotalLeaseGainCosts
3916000 USD
elf Total Lease Gain Costs
TotalLeaseGainCosts
4168000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1160000 USD
CY2021Q4 elf Lease Liability Payments Remainderof Fiscal Year
LeaseLiabilityPaymentsRemainderofFiscalYear
1364000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4819000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
816000 USD
CY2021Q4 elf Lease Liability Payments Due Year One
LeaseLiabilityPaymentsDueYearOne
5635000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4841000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
582000 USD
CY2021Q4 elf Lease Liability Payments Due Year Two
LeaseLiabilityPaymentsDueYearTwo
5423000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4016000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
58000 USD
CY2021Q4 elf Lease Liability Payments Due Year Three
LeaseLiabilityPaymentsDueYearThree
4074000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3031000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 USD
CY2021Q4 elf Lease Liability Payments Due Year Four
LeaseLiabilityPaymentsDueYearFour
3031000 USD
CY2021Q4 elf Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
4574000 USD
CY2021Q4 elf Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
0 USD
CY2021Q4 elf Lease Liability Payments Due After Year Four
LeaseLiabilityPaymentsDueAfterYearFour
4574000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
22441000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1660000 USD
CY2021Q4 elf Lease Liability Payments Due
LeaseLiabilityPaymentsDue
24101000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1539000 USD
CY2021Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
48000 USD
CY2021Q4 elf Lease Liability Undiscounted Excess Amount
LeaseLiabilityUndiscountedExcessAmount
1587000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
20902000 USD
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
1612000 USD
CY2021Q4 elf Lease Liability
LeaseLiability
22514000 USD
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y4M24D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y4M24D
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y1M6D
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y6M
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.028
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.028
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.030
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.052
us-gaap Operating Lease Payments
OperatingLeasePayments
3900000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
2700000 USD

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