$ELF
e.l.f. Beauty, Inc.

2023 Q3 Form 10-Q Financial Statement

#000160003323000035 Filed on August 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $215.5M $216.3M
YoY Change 76.14% 76.46%
Cost Of Revenue $63.14M $63.77M
YoY Change 47.57% 60.96%
Gross Profit $152.4M $152.6M
YoY Change 91.51% 83.85%
Gross Profit Margin 70.7% 70.52%
Selling, General & Admin $112.2M $91.94M
YoY Change 74.79% 49.36%
% of Gross Profit 73.63% 60.26%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.700M $5.637M
YoY Change 25.21% -1.52%
% of Gross Profit 4.4% 3.69%
Operating Expenses $112.2M $91.94M
YoY Change 74.79% 49.36%
Operating Profit $40.18M $60.63M
YoY Change 161.29% 182.94%
Interest Expense $600.0K $341.0K
YoY Change -176.34% -151.43%
% of Operating Profit 1.49% 0.56%
Other Income/Expense, Net -$1.062M $399.0K
YoY Change -15.85% -123.99%
Pretax Income $39.74M $59.65M
YoY Change 198.15% 212.25%
Income Tax $6.469M $6.676M
% Of Pretax Income 16.28% 11.19%
Net Earnings $33.27M $52.98M
YoY Change 184.12% 266.14%
Net Earnings / Revenue 15.44% 24.49%
Basic Earnings Per Share $0.61 $0.98
Diluted Earnings Per Share $0.58 $0.93
COMMON SHARES
Basic Shares Outstanding 54.46M shares 53.87M shares
Diluted Shares Outstanding 57.44M shares 57.18M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $167.8M $142.5M
YoY Change 96.68% 97.31%
Cash & Equivalents $167.8M $142.5M
Short-Term Investments
Other Short-Term Assets $33.80M $39.28M
YoY Change 25.74% 80.4%
Inventory $147.2M $98.05M
Prepaid Expenses
Receivables $86.68M $90.53M
Other Receivables $0.00 $0.00
Total Short-Term Assets $435.4M $370.4M
YoY Change 76.01% 70.98%
LONG-TERM ASSETS
Property, Plant & Equipment $7.624M $7.581M
YoY Change -14.66% -18.82%
Goodwill $171.6M $171.6M
YoY Change 0.0% 0.0%
Intangibles $73.99M $76.01M
YoY Change -9.88% -9.65%
Long-Term Investments $1.200M $1.155M
YoY Change -58.26% -59.83%
Other Assets $57.11M $31.10M
YoY Change 95.48% 6.33%
Total Long-Term Assets $311.5M $287.5M
YoY Change 5.68% -3.28%
TOTAL ASSETS
Total Short-Term Assets $435.4M $370.4M
Total Long-Term Assets $311.5M $287.5M
Total Assets $746.9M $657.9M
YoY Change 37.78% 28.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $63.74M $53.24M
YoY Change 230.6% 232.25%
Accrued Expenses $83.41M $51.04M
YoY Change 77.96% 27.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.200M $5.431M
YoY Change -10.36% -6.25%
Total Short-Term Liabilities $152.4M $109.7M
YoY Change 111.78% 77.71%
LONG-TERM LIABILITIES
Long-Term Debt $57.70M $59.61M
YoY Change -34.64% -33.53%
Other Long-Term Liabilities $942.0K $11.01M
YoY Change 7.78% 1247.25%
Total Long-Term Liabilities $942.0K $70.62M
YoY Change 7.78% 8543.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $152.4M $109.7M
Total Long-Term Liabilities $942.0K $70.62M
Total Liabilities $230.5M $186.2M
YoY Change 24.48% 3.2%
SHAREHOLDERS EQUITY
Retained Earnings -$335.8M -$369.0M
YoY Change -26.59% -21.33%
Common Stock $852.2M $840.7M
YoY Change 4.65% 4.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $516.4M $471.7M
YoY Change
Total Liabilities & Shareholders Equity $746.9M $657.9M
YoY Change 37.78% 28.03%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $33.27M $52.98M
YoY Change 184.12% 266.14%
Depreciation, Depletion And Amortization $6.700M $5.637M
YoY Change 25.21% -1.52%
Cash From Operating Activities $27.90M $23.35M
YoY Change 123.77% -23.62%
INVESTING ACTIVITIES
Capital Expenditures $900.0K $616.0K
YoY Change -298.68% 155.6%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$900.0K -$616.0K
YoY Change 98.68% 155.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.250M
YoY Change 0.0%
Cash From Financing Activities -1.800M -967.0K
YoY Change -270.78% -32.94%
NET CHANGE
Cash From Operating Activities 27.90M 23.35M
Cash From Investing Activities -900.0K -616.0K
Cash From Financing Activities -1.800M -967.0K
Net Change In Cash 25.20M 21.77M
YoY Change 92.82% -24.65%
FREE CASH FLOW
Cash From Operating Activities $27.90M $23.35M
Capital Expenditures $900.0K $616.0K
Free Cash Flow $27.00M $22.74M
YoY Change 108.96% -25.05%

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, vegan and cruelty-free cosmetics and skincare products. The Company's 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%">The Company believes its ability to deliver cruelty-free, clean, vegan and premium-quality products at accessible prices with broad appeal differentiates it in the beauty industry. The Company believes the combination of its value proposition, innovation engine, ability to attract and engage consumers, and its world-class team’s ability to execute with speed, has positioned the Company well to navigate the competitive beauty market.</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%">The Company's family of brands includes e.l.f. Cosmetics, e.l.f. SKIN, Well People and Keys Soulcare. The Company's brands are available online and across leading beauty, mass-market and specialty retailers. The Company has strong relationships with its retail customers such as Target, Walmart, Ulta Beauty and other leading retailers that have enabled the Company to expand distribution both domestically and internationally.</span></div>
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13098000 usd
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CY2023Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
3594000 usd
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2851000 usd
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3232000 usd
CY2023Q2 us-gaap Other Accrued Liabilities Current
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2495000 usd
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CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
431000 usd
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
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CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
1226000 usd
CY2023Q2 elf Long Term Debt Gross And Lease Obligation
LongTermDebtGrossAndLeaseObligation
65431000 usd
CY2023Q1 elf Long Term Debt Gross And Lease Obligation
LongTermDebtGrossAndLeaseObligation
66883000 usd
CY2022Q2 elf Long Term Debt Gross And Lease Obligation
LongTermDebtGrossAndLeaseObligation
96226000 usd
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
388000 usd
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
427000 usd
CY2022Q2 us-gaap Deferred Finance Costs Net
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749000 usd
CY2023Q2 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
65043000 usd
CY2023Q1 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
66456000 usd
CY2022Q2 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
95477000 usd
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LongTermDebtAndCapitalLeaseObligationsCurrent
5431000 usd
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LongTermDebtAndCapitalLeaseObligationsCurrent
5575000 usd
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LongTermDebtAndCapitalLeaseObligationsCurrent
5793000 usd
CY2023Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
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LongTermDebtAndCapitalLeaseObligations
60881000 usd
CY2022Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
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CY2023Q2 us-gaap Allocated Share Based Compensation Expense
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FinanceLeaseRightOfUseAsset
560000 usd
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25000000 usd
CY2023Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2023Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
17100000 usd
CY2023Q2 us-gaap Net Income Loss
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52977000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
14469000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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53938136 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51707160 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3237734 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2127572 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57175870 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53834732 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.98
CY2022Q2 us-gaap Earnings Per Share Basic
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0.28
CY2023Q2 us-gaap Earnings Per Share Diluted
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0.93
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.27
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
141407 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
741016 shares
CY2023Q2 elf Lessee Operating Lease Number Of Options To Renew
LesseeOperatingLeaseNumberOfOptionsToRenew
1 renewal_options
CY2023Q2 elf Lessee Operating Lease Option To Extend Term
LesseeOperatingLeaseOptionToExtendTerm
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CY2023Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
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CY2023Q1 us-gaap Finance Lease Right Of Use Asset
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CY2023Q1 elf Lease Right Of Use Asset
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CY2022Q2 elf Lease Right Of Use Asset
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CY2023Q2 us-gaap Operating Lease Liability Current
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4474000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4510000 usd
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OperatingLeaseLiabilityCurrent
4508000 usd
CY2023Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
431000 usd
CY2023Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
575000 usd
CY2022Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
793000 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
10137000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11201000 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
14637000 usd
CY2023Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
0 usd
CY2023Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
58000 usd
CY2022Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
433000 usd
CY2023Q2 elf Lease Liability
LeaseLiability
15042000 usd
CY2023Q1 elf Lease Liability
LeaseLiability
16344000 usd
CY2022Q2 elf Lease Liability
LeaseLiability
20371000 usd
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
3500000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
3400000 usd
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
3100000 usd
CY2023Q2 us-gaap Operating Lease Cost
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1277000 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1157000 usd
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
105000 usd
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
105000 usd
CY2023Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
4000 usd
CY2022Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
10000 usd
CY2023Q2 elf Total Lease Gain Costs
TotalLeaseGainCosts
1386000 usd
CY2022Q2 elf Total Lease Gain Costs
TotalLeaseGainCosts
1272000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3655000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
377000 usd
CY2023Q2 elf Lease Liability Payments Remainderof Fiscal Year
LeaseLiabilityPaymentsRemainderofFiscalYear
4032000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4071000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
58000 usd
CY2023Q2 elf Lease Liability Payments Due Year One
LeaseLiabilityPaymentsDueYearOne
4129000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3097000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
0 usd
CY2023Q2 elf Lease Liability Payments Due Year Two
LeaseLiabilityPaymentsDueYearTwo
3097000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1441000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 usd
CY2023Q2 elf Lease Liability Payments Due Year Three
LeaseLiabilityPaymentsDueYearThree
1441000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
846000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 usd
CY2023Q2 elf Lease Liability Payments Due Year Four
LeaseLiabilityPaymentsDueYearFour
846000 usd
CY2023Q2 elf Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
2374000 usd
CY2023Q2 elf Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
0 usd
CY2023Q2 elf Lease Liability Payments Due After Year Four
LeaseLiabilityPaymentsDueAfterYearFour
2374000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
15484000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
435000 usd
CY2023Q2 elf Lease Liability Payments Due
LeaseLiabilityPaymentsDue
15919000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
873000 usd
CY2023Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
4000 usd
CY2023Q2 elf Lease Liability Undiscounted Excess Amount
LeaseLiabilityUndiscountedExcessAmount
877000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
14611000 usd
CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
431000 usd
CY2023Q2 elf Lease Liability
LeaseLiability
15042000 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y4M24D
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y8M12D
CY2022Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y7M6D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.026
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.027
CY2023Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.024
CY2022Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.029
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
1200000 usd
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
1100000 usd
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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