2022 Q4 Form 10-Q Financial Statement

#000160003322000047 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $146.5M $122.3M
YoY Change 49.35% 33.2%
Cost Of Revenue $47.81M $42.79M
YoY Change 41.55% 26.33%
Gross Profit $98.73M $79.56M
YoY Change 53.44% 37.21%
Gross Profit Margin 67.37% 65.03%
Selling, General & Admin $75.43M $64.18M
YoY Change 36.2% 27.23%
% of Gross Profit 76.41% 80.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.421M $5.351M
YoY Change -22.2% -24.92%
% of Gross Profit 5.49% 6.73%
Operating Expenses $75.43M $64.18M
YoY Change 36.2% 27.23%
Operating Profit $23.29M $15.38M
YoY Change 159.63% 106.62%
Interest Expense -$463.0K -$786.0K
YoY Change -18.77% 31.66%
% of Operating Profit -1.99% -5.11%
Other Income/Expense, Net $730.0K -$1.262M
YoY Change -600.0% 95.36%
Pretax Income $23.38M $13.33M
YoY Change 183.25% 115.02%
Income Tax $4.277M $1.619M
% Of Pretax Income 18.29% 12.15%
Net Earnings $19.11M $11.71M
YoY Change 207.45% 104.58%
Net Earnings / Revenue 13.04% 9.57%
Basic Earnings Per Share $0.36 $0.22
Diluted Earnings Per Share $0.34 $0.21
COMMON SHARES
Basic Shares Outstanding 52.94M shares 52.42M shares
Diluted Shares Outstanding 55.84M shares 55.04M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $87.02M $85.32M
YoY Change 164.59% 104.63%
Cash & Equivalents $87.02M $85.32M
Short-Term Investments
Other Short-Term Assets $28.38M $26.88M
YoY Change 43.29% 45.93%
Inventory $81.25M $81.29M
Prepaid Expenses
Receivables $66.24M $53.91M
Other Receivables $0.00 $0.00
Total Short-Term Assets $262.9M $247.4M
YoY Change 42.01% 36.45%
LONG-TERM ASSETS
Property, Plant & Equipment $8.726M $8.934M
YoY Change -28.66% -35.93%
Goodwill $171.6M $171.6M
YoY Change 0.0% 0.0%
Intangibles $80.07M $82.10M
YoY Change -9.21% -9.0%
Long-Term Investments $2.875M $2.875M
YoY Change 0.0% 0.0%
Other Assets $29.74M $29.21M
YoY Change -3.76% -11.59%
Total Long-Term Assets $293.0M $294.7M
YoY Change -4.18% -5.44%
TOTAL ASSETS
Total Short-Term Assets $262.9M $247.4M
Total Long-Term Assets $293.0M $294.7M
Total Assets $555.9M $542.1M
YoY Change 13.23% 9.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.05M $19.28M
YoY Change 40.84% -0.1%
Accrued Expenses $49.80M $46.87M
YoY Change 46.56% 43.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.690M $5.801M
YoY Change -1.56% -69.87%
Total Short-Term Liabilities $87.54M $71.95M
YoY Change 40.03% 1.03%
LONG-TERM LIABILITIES
Long-Term Debt $62.18M $88.28M
YoY Change -32.76% -5.95%
Other Long-Term Liabilities $795.0K $874.0K
YoY Change 4.88% 8.84%
Total Long-Term Liabilities $795.0K $874.0K
YoY Change 4.88% 8.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $87.54M $71.95M
Total Long-Term Liabilities $795.0K $874.0K
Total Liabilities $170.6M $185.2M
YoY Change -8.01% -6.91%
SHAREHOLDERS EQUITY
Retained Earnings -$438.2M -$457.4M
YoY Change -9.66% -6.91%
Common Stock $823.5M $814.3M
YoY Change 4.17% 3.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $385.3M $357.0M
YoY Change
Total Liabilities & Shareholders Equity $555.9M $542.1M
YoY Change 13.23% 9.97%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income $19.11M $11.71M
YoY Change 207.45% 104.58%
Depreciation, Depletion And Amortization $5.421M $5.351M
YoY Change -22.2% -24.92%
Cash From Operating Activities $25.96M $12.47M
YoY Change 268.05% -285.59%
INVESTING ACTIVITIES
Capital Expenditures $953.0K -$453.0K
YoY Change -200.63% -65.5%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$953.0K -$453.0K
YoY Change 0.63% -65.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -23.30M 1.054M
YoY Change 56.26% -107.71%
NET CHANGE
Cash From Operating Activities 25.96M 12.47M
Cash From Investing Activities -953.0K -453.0K
Cash From Financing Activities -23.30M 1.054M
Net Change In Cash 1.704M 13.07M
YoY Change -119.35% -160.2%
FREE CASH FLOW
Cash From Operating Activities $25.96M $12.47M
Capital Expenditures $953.0K -$453.0K
Free Cash Flow $25.00M $12.92M
YoY Change 212.56% -339.06%

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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q3 us-gaap Stockholders Equity
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us-gaap Nature Of Operations
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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, clean and 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, clean, premium-quality products at accessible prices with broad appeal differentiates us in the beauty industry. We believe the combination of our innovation engine, core value proposition, 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><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>
us-gaap Use Of Estimates
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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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261845000 usd
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4100000 usd
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0.50
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.21
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.48
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21646 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9334 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
381331 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4667 shares
elf Lessee Operating Lease Number Of Options To Renew
LesseeOperatingLeaseNumberOfOptionsToRenew
1 renewal_options
elf Lessee Operating Lease Option To Extend Term
LesseeOperatingLeaseOptionToExtendTerm
P5Y
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16156000 usd
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18218000 usd
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
20270000 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
455000 usd
CY2022Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
664000 usd
CY2021Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
874000 usd
CY2022Q3 elf Lease Rightof Use Asset
LeaseRightofUseAsset
16611000 usd
CY2022Q1 elf Lease Rightof Use Asset
LeaseRightofUseAsset
18882000 usd
CY2021Q3 elf Lease Rightof Use Asset
LeaseRightofUseAsset
21144000 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4458000 usd
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4391000 usd
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4233000 usd
CY2022Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
801000 usd
CY2022Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
786000 usd
CY2021Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
774000 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
13440000 usd
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
15744000 usd
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
17919000 usd
CY2022Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
229000 usd
CY2022Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
633000 usd
CY2021Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
1029000 usd
CY2022Q3 elf Lease Liability
LeaseLiability
18928000 usd
CY2022Q1 elf Lease Liability
LeaseLiability
21554000 usd
CY2021Q3 elf Lease Liability
LeaseLiability
23955000 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
3200000 usd
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
3000000 usd
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
2800000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1152000 usd
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1242000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
2309000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
2312000 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
105000 usd
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
105000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
210000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
226000 usd
CY2022Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
8000 usd
CY2021Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
15000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
18000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
39000 usd
CY2022Q3 elf Total Lease Gain Costs
TotalLeaseGainCosts
1265000 usd
CY2021Q3 elf Total Lease Gain Costs
TotalLeaseGainCosts
1362000 usd
elf Total Lease Gain Costs
TotalLeaseGainCosts
2537000 usd
elf Total Lease Gain Costs
TotalLeaseGainCosts
2577000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 usd
CY2022Q3 elf Lease Liability Payments Due Year Four
LeaseLiabilityPaymentsDueYearFour
1441000 usd
CY2022Q3 elf Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
3225000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2409000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
408000 usd
CY2022Q3 elf Lease Liability Payments Remainderof Fiscal Year
LeaseLiabilityPaymentsRemainderofFiscalYear
2817000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4838000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
582000 usd
CY2022Q3 elf Lease Liability Payments Due Year One
LeaseLiabilityPaymentsDueYearOne
5420000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4071000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
58000 usd
CY2022Q3 elf Lease Liability Payments Due Year Two
LeaseLiabilityPaymentsDueYearTwo
4129000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3097000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 usd
CY2022Q3 elf Lease Liability Payments Due Year Three
LeaseLiabilityPaymentsDueYearThree
3097000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1441000 usd
CY2022Q3 elf Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
0 usd
CY2022Q3 elf Lease Liability Payments Due After Year Four
LeaseLiabilityPaymentsDueAfterYearFour
3225000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
19081000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1048000 usd
CY2022Q3 elf Lease Liability Payments Due
LeaseLiabilityPaymentsDue
20129000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1183000 usd
CY2022Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
18000 usd
CY2022Q3 elf Lease Liability Undiscounted Excess Amount
LeaseLiabilityUndiscountedExcessAmount
1201000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
17898000 usd
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1030000 usd
CY2022Q3 elf Lease Liability
LeaseLiability
18928000 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y10M24D
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y7M6D
CY2022Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y4M24D
CY2021Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M18D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.026
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.028
CY2022Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.029
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.030
us-gaap Operating Lease Payments
OperatingLeasePayments
2500000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
2500000 usd

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