2024 Q2 Form 10-K Financial Statement

#000160003324000020 Filed on May 23, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2024
Revenue $324.5M $321.1M $1.024B
YoY Change 49.99% 71.41% 76.89%
Cost Of Revenue $93.19M $93.94M $299.8M
YoY Change 46.15% 61.32% 59.11%
Gross Profit $231.3M $227.2M $724.1M
YoY Change 51.59% 75.95% 85.48%
Gross Profit Margin 71.28% 70.75% 70.72%
Selling, General & Admin $180.6M $210.2M $574.4M
YoY Change 96.41% 73.58% 78.25%
% of Gross Profit 78.08% 92.5% 79.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.13M $11.67M $35.91M
YoY Change 97.52% 105.82% 62.03%
% of Gross Profit 4.81% 5.13% 4.96%
Operating Expenses $180.6M $210.2M $574.4M
YoY Change 96.41% 73.58% 78.25%
Operating Profit $50.71M $17.03M $149.7M
YoY Change -16.37% 111.68% 119.65%
Interest Expense -$3.665M -$4.002M -$7.023M
YoY Change -1174.78% 3675.47% 248.02%
% of Operating Profit -7.23% -23.5% -4.69%
Other Income/Expense, Net $187.0K -$692.0K $1.210M
YoY Change -53.13% -316.25% -164.53%
Pretax Income $47.23M $11.18M $141.0M
YoY Change -20.83% 35.38% 120.04%
Income Tax -$300.0K -$3.346M $13.33M
% Of Pretax Income -0.64% -29.93% 9.45%
Net Earnings $47.56M $14.53M $127.7M
YoY Change -10.23% -10.58% 107.48%
Net Earnings / Revenue 14.66% 4.52% 12.47%
Basic Earnings Per Share $0.85 $0.26 $2.33
Diluted Earnings Per Share $0.81 $0.25 $2.21
COMMON SHARES
Basic Shares Outstanding 55.94M shares 55.51M shares 54.75M shares
Diluted Shares Outstanding 58.55M shares 57.79M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $109.0M $108.2M $108.2M
YoY Change -23.51% -10.43% -10.43%
Cash & Equivalents $109.0M $108.2M $108.2M
Short-Term Investments
Other Short-Term Assets $66.16M $53.61M $53.61M
YoY Change 68.45% 61.0% 61.0%
Inventory $199.6M $191.5M $191.5M
Prepaid Expenses
Receivables $155.7M $123.8M $123.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $530.5M $477.1M $477.1M
YoY Change 43.21% 57.28% 57.28%
LONG-TERM ASSETS
Property, Plant & Equipment $14.04M $13.97M $41.39M
YoY Change 85.2% 77.47% 425.64%
Goodwill $340.6M $340.6M
YoY Change 98.46% 98.46%
Intangibles $220.7M $225.1M
YoY Change 190.4% 188.43%
Long-Term Investments
YoY Change
Other Assets $98.99M $72.50M $45.09M
YoY Change 218.26% 127.52% 41.49%
Total Long-Term Assets $674.4M $652.2M $652.2M
YoY Change 134.59% 123.13% 123.13%
TOTAL ASSETS
Total Short-Term Assets $530.5M $477.1M $477.1M
Total Long-Term Assets $674.4M $652.2M $652.2M
Total Assets $1.205B $1.129B $1.129B
YoY Change 83.14% 89.6% 89.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $79.99M $81.08M $81.08M
YoY Change 50.25% 157.98% 157.98%
Accrued Expenses $116.9M $117.7M $108.0M
YoY Change 129.01% 65.88% 52.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $102.9M $100.3M $100.3M
YoY Change 1795.38% 1699.23% 1699.23%
Total Short-Term Liabilities $299.8M $299.1M $299.1M
YoY Change 173.28% 177.02% 177.02%
LONG-TERM LIABILITIES
Long-Term Debt $159.2M $161.8M $161.8M
YoY Change 167.12% 165.8% 165.8%
Other Long-Term Liabilities $656.0K $616.0K $22.08M
YoY Change -94.04% -21.43% 84.19%
Total Long-Term Liabilities $656.0K $616.0K $183.9M
YoY Change -99.07% -21.43% 152.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $299.8M $299.1M $299.1M
Total Long-Term Liabilities $656.0K $616.0K $183.9M
Total Liabilities $501.2M $486.7M $486.7M
YoY Change 169.23% 163.66% 163.66%
SHAREHOLDERS EQUITY
Retained Earnings -$246.8M -$294.3M
YoY Change -33.13% -30.25%
Common Stock $950.4M $937.0M
YoY Change 13.04% 12.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $703.6M $642.6M $642.6M
YoY Change
Total Liabilities & Shareholders Equity $1.205B $1.129B $1.129B
YoY Change 83.14% 89.6% 89.6%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2024
OPERATING ACTIVITIES
Net Income $47.56M $14.53M $127.7M
YoY Change -10.23% -10.58% 107.48%
Depreciation, Depletion And Amortization $11.13M $11.67M $35.91M
YoY Change 97.52% 105.82% 62.03%
Cash From Operating Activities $1.281M $37.01M $71.15M
YoY Change -94.51% 12.57% -30.16%
INVESTING ACTIVITIES
Capital Expenditures $786.0K $2.675M $8.659M
YoY Change 27.6% 3419.74% 402.55%
Acquisitions $275.0M
YoY Change
Other Investing Activities $93.00K -$1.028M -$276.0M
YoY Change
Cash From Investing Activities -$879.0K -$3.703M -$284.7M
YoY Change 42.69% 4772.37% 16421.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.561M
YoY Change -30.94%
Debt Paid & Issued, Net $0.00 $7.875M
YoY Change -100.0% -73.75%
Cash From Financing Activities $408.0K -106.0K $200.9M
YoY Change -142.19% -111.15% -983.86%
NET CHANGE
Cash From Operating Activities $1.281M 37.01M $71.15M
Cash From Investing Activities -$879.0K -3.703M -$284.7M
Cash From Financing Activities $408.0K -106.0K $200.9M
Net Change In Cash $851.0K 33.21M -$12.60M
YoY Change -96.09% -1.63% -116.27%
FREE CASH FLOW
Cash From Operating Activities $1.281M $37.01M $71.15M
Capital Expenditures $786.0K $2.675M $8.659M
Free Cash Flow $495.0K $34.34M $62.50M
YoY Change -97.82% 4.68% -37.6%

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77425000 usd
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CY2024 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”), is a multi-brand beauty company that offers inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The Company's mission is to make the best of beauty accessible to every eye, lip, face and skin concern. </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%">e.l.f. Beauty 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. e.l.f. Beauty 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 style="margin-bottom:12pt"><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, Naturium, 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>
CY2024 us-gaap Use Of Estimates
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<div style="margin-bottom:12pt;text-align:justify"><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 US GAAP requires management 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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CY2024 us-gaap Concentration Risk Credit Risk
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<div style="margin-bottom:12pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of credit risk</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%">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and cash equivalents including money market funds. Although the Company deposits its cash with creditworthy financial institutions, its deposits, at times, may exceed federally insured limits. To date, the Company has not experienced any losses on its cash deposits. The Company performs credit evaluations of its customers and the risk with respect to trade receivables is further mitigated by the short duration of customer payment terms and the pedigree of the customer base.</span></div>
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CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q2 us-gaap Earnings Per Share Basic
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CY2022Q2 us-gaap Earnings Per Share Basic
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CY2022Q2 us-gaap Earnings Per Share Diluted
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0.21
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CY2023Q1 us-gaap Earnings Per Share Diluted
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CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q2 us-gaap Gross Profit
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CY2021Q2 us-gaap Earnings Per Share Basic
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CY2021Q2 us-gaap Earnings Per Share Diluted
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0.12
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0.03

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