2023 Q1 Form 10-Q Financial Statement

#000160003323000009 Filed on February 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4
Revenue $187.4M $146.5M
YoY Change 78.21% 49.35%
Cost Of Revenue $58.23M $47.81M
YoY Change 54.73% 41.55%
Gross Profit $129.1M $98.73M
YoY Change 91.3% 53.44%
Gross Profit Margin 68.92% 67.37%
Selling, General & Admin $121.1M $75.43M
YoY Change 85.63% 36.2%
% of Gross Profit 93.77% 76.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.668M $5.421M
YoY Change -16.23% -22.2%
% of Gross Profit 4.39% 5.49%
Operating Expenses $121.1M $75.43M
YoY Change 85.33% 36.2%
Operating Profit $8.045M $23.29M
YoY Change 271.08% 159.63%
Interest Expense -$106.0K -$463.0K
YoY Change -79.96% -18.77%
% of Operating Profit -1.32% -1.99%
Other Income/Expense, Net $320.0K $730.0K
YoY Change -166.12% -600.0%
Pretax Income $8.259M $23.38M
YoY Change 604.09% 183.25%
Income Tax -$7.987M $4.277M
% Of Pretax Income -96.71% 18.29%
Net Earnings $16.25M $19.11M
YoY Change 944.09% 207.45%
Net Earnings / Revenue 8.67% 13.04%
Basic Earnings Per Share $0.31 $0.36
Diluted Earnings Per Share $0.29 $0.34
COMMON SHARES
Basic Shares Outstanding 53.29M shares 52.94M shares
Diluted Shares Outstanding 55.84M shares

Balance Sheet

Concept 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $120.8M $87.02M
YoY Change 178.59% 164.59%
Cash & Equivalents $120.8M $87.02M
Short-Term Investments
Other Short-Term Assets $33.30M $28.38M
YoY Change 69.78% 43.29%
Inventory $81.32M $81.25M
Prepaid Expenses
Receivables $67.93M $66.24M
Other Receivables $0.00 $0.00
Total Short-Term Assets $303.3M $262.9M
YoY Change 57.14% 42.01%
LONG-TERM ASSETS
Property, Plant & Equipment $7.874M $8.726M
YoY Change -25.56% -28.66%
Goodwill $171.6M $171.6M
YoY Change 0.0% 0.0%
Intangibles $78.04M $80.07M
YoY Change -9.43% -9.21%
Long-Term Investments $2.875M $2.875M
YoY Change 0.0% 0.0%
Other Assets $31.87M $29.74M
YoY Change 4.93% -3.76%
Total Long-Term Assets $292.3M $293.0M
YoY Change -3.09% -4.18%
TOTAL ASSETS
Total Short-Term Assets $303.3M $262.9M
Total Long-Term Assets $292.3M $293.0M
Total Assets $595.6M $555.9M
YoY Change 20.41% 13.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $31.43M $32.05M
YoY Change 63.45% 40.84%
Accrued Expenses $70.97M $49.80M
YoY Change 77.42% 46.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.575M $5.690M
YoY Change -3.65% -1.56%
Total Short-Term Liabilities $108.0M $87.54M
YoY Change 66.07% 40.03%
LONG-TERM LIABILITIES
Long-Term Debt $60.88M $62.18M
YoY Change -33.16% -32.76%
Other Long-Term Liabilities $784.0K $795.0K
YoY Change 1.95% 4.88%
Total Long-Term Liabilities $784.0K $795.0K
YoY Change 1.95% 4.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $108.0M $87.54M
Total Long-Term Liabilities $784.0K $795.0K
Total Liabilities $184.6M $170.6M
YoY Change 1.31% -8.01%
SHAREHOLDERS EQUITY
Retained Earnings -$422.0M -$438.2M
YoY Change -12.73% -9.66%
Common Stock $833.0M $823.5M
YoY Change 4.66% 4.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $411.0M $385.3M
YoY Change
Total Liabilities & Shareholders Equity $595.6M $555.9M
YoY Change 20.41% 13.23%

Cashflow Statement

Concept 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $16.25M $19.11M
YoY Change 944.09% 207.45%
Depreciation, Depletion And Amortization $5.668M $5.421M
YoY Change -16.23% -22.2%
Cash From Operating Activities $32.88M $25.96M
YoY Change 181.36% 268.05%
INVESTING ACTIVITIES
Capital Expenditures $76.00K $953.0K
YoY Change -134.23% -200.63%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$76.00K -$953.0K
YoY Change -65.77% 0.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 951.0K -23.30M
YoY Change -195.0% 56.26%
NET CHANGE
Cash From Operating Activities 32.88M 25.96M
Cash From Investing Activities -76.00K -953.0K
Cash From Financing Activities 951.0K -23.30M
Net Change In Cash 33.76M 1.704M
YoY Change 222.6% -119.35%
FREE CASH FLOW
Cash From Operating Activities $32.88M $25.96M
Capital Expenditures $76.00K $953.0K
Free Cash Flow $32.81M $25.00M
YoY Change 175.47% 212.56%

Facts In Submission

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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, face and skin concern.</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 value proposition, innovation engine, ability to attract and engage consumers, 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>
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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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2666304 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2782925 shares
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55840137 shares
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53891438 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54906065 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53614910 shares
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.87
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.40
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.82
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.38
CY2022Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9215 shares
CY2021Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
257292 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3111 shares
elf Lessee Operating Lease Number Of Options To Renew
LesseeOperatingLeaseNumberOfOptionsToRenew
1 renewal_options
elf Lessee Operating Lease Option To Extend Term
LesseeOperatingLeaseOptionToExtendTerm
P5Y
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
15120000 usd
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18218000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18982000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
350000 usd
CY2022Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
664000 usd
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
769000 usd
CY2022Q4 elf Lease Rightof Use Asset
LeaseRightofUseAsset
15470000 usd
CY2022Q1 elf Lease Rightof Use Asset
LeaseRightofUseAsset
18882000 usd
CY2021Q4 elf Lease Rightof Use Asset
LeaseRightofUseAsset
19751000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4528000 usd
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4391000 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4243000 usd
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
690000 usd
CY2022Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
786000 usd
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
780000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
12329000 usd
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
15744000 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
16659000 usd
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
142000 usd
CY2022Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
633000 usd
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
832000 usd
CY2022Q4 elf Lease Liability
LeaseLiability
17689000 usd
CY2022Q1 elf Lease Liability
LeaseLiability
21554000 usd
CY2021Q4 elf Lease Liability
LeaseLiability
22514000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
3300000 usd
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
3000000 usd
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
2900000 usd
CY2022Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
1149000 usd
CY2021Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
1221000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
3458000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
3533000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
105000 usd
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
105000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
315000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
331000 usd
CY2022Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
7000 usd
CY2021Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
13000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
25000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
52000 usd
CY2022Q4 elf Total Lease Gain Costs
TotalLeaseGainCosts
1261000 usd
CY2021Q4 elf Total Lease Gain Costs
TotalLeaseGainCosts
1339000 usd
elf Total Lease Gain Costs
TotalLeaseGainCosts
3798000 usd
elf Total Lease Gain Costs
TotalLeaseGainCosts
3916000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1252000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
204000 usd
CY2022Q4 elf Lease Liability Payments Remainderof Fiscal Year
LeaseLiabilityPaymentsRemainderofFiscalYear
1456000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4849000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
582000 usd
CY2022Q4 elf Lease Liability Payments Due Year One
LeaseLiabilityPaymentsDueYearOne
5431000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4071000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
58000 usd
CY2022Q4 elf Lease Liability Payments Due Year Two
LeaseLiabilityPaymentsDueYearTwo
4129000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3097000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 usd
CY2022Q4 elf Lease Liability Payments Due Year Three
LeaseLiabilityPaymentsDueYearThree
3097000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1441000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 usd
CY2022Q4 elf Lease Liability Payments Due Year Four
LeaseLiabilityPaymentsDueYearFour
1441000 usd
CY2022Q4 elf Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
3218000 usd
CY2022Q4 elf Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
0 usd
CY2022Q4 elf Lease Liability Payments Due After Year Four
LeaseLiabilityPaymentsDueAfterYearFour
3218000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
17928000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
844000 usd
CY2022Q4 elf Lease Liability Payments Due
LeaseLiabilityPaymentsDue
18772000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1071000 usd
CY2022Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
12000 usd
CY2022Q4 elf Lease Liability Undiscounted Excess Amount
LeaseLiabilityUndiscountedExcessAmount
1083000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
16857000 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
832000 usd
CY2022Q4 elf Lease Liability
LeaseLiability
17689000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M12D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y4M24D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y1M6D
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y1M6D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.026
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.028
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.028
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.030
us-gaap Operating Lease Payments
OperatingLeasePayments
3600000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
3900000 usd

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0001600033-23-000009-xbrl.zip Edgar Link pending
elf-20221231.htm Edgar Link pending
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