E.l.f. Beauty, Inc. · NYSE:ELF
E.l.f. Beauty — Q1 FY2027 Earnings Presentation
103 slides from E.l.f. Beauty's earnings presentation, August 2026
Slide 1: Q1 FY 2027 Earnings
elf BEAUTY Ql FY 2027 EARNINGS
Slide 2: Tarang Amin, Chairman & Chief Executive Officer
TARANG AMIN CHAIRMAN & CHIEF EXECUTIVE OFFICER
Slide 3: +36% Net Sales Q1 FY 2027
+ 36 % NET SALES Q1 FY 2027
Slide 4: Continuous years and quarters of net sales growth
$500M 7 CONTIN UOUS + $375M YEARS CONTINUOUS QUARTERS OF NET SALES GROWTH $250M $125M $0 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 FY 27 BARS REPRESENT NET SALES, $ MILLIONS
Slide 5: Average growth per quarter
$500M 16 OF >20 % $375M AVG GROWTH PER QUARTER CONSUMER COMPANIES OUT OF 516 THAT HAS GROWN FOR $250M 30 CONSECUTIVE QUARTERS $125M $0 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 FY 27 BARS REPRESENT NET SALES, $ MILLIONS
Slide 6: Fiscal 2027 Outlook: 18-20% net sales growth
FISCAL 2027 OUTLOOK 18-20 % NET SALES G ROWTH
Slide 7: Retail sales in cosmetics and skin care brands
3 > $ 9 0 0 M I N R E TA I L S A L E S 14 > $ 2 0 0 M I N R E TA I L S A L E S ~ 1, 800 COSMETICS & SKIN CARE BRANDS NIELSEN XAOC, LATEST 52 WEEKS ENDING 7/11/2026. COLOR COSMETICS AND FACIAL SKIN CARE CATEGORIES. NOTE: NATURIUM AND RHODE NOT CAPTURED IN NIELSEN XAOC DATA
Slide 8: Value proposition, innovation, marketing engine
VALUE POWERHOUSE DISRUPTIVE PROPOSITION INNOVATION MARKETING ENGINE
Slide 9: e.l.f. Cosmetics unit and dollar share
E . L . F. C O S M E T I C S #1 #2 UNIT SHARE $ SHARE NIELSEN XAOC L52W ENDING 7/11/2026. COLOR COSMETICS CATEGORY.
Slide 10: e.l.f. SKIN dollar share rank
E . L . F. S K I N $ S H A R E R A N K #11 TODAY #25 FY 2021 NIELSEN XAOC L52W ENDING 7/11/2026. SKIN CARE CATEGORY.
Slide 11: Fastest growing top skin care brand
FASTEST GROWING TOP 50 SKIN CARE BRANDS, CIRCANA, 3 MONTHS ENDED 6/30/2026. MASSTIGE SKIN CARE CATEGORY BY DOLLAR VOLUME SALES
Slide 12: Outstanding growth
OUTSTANDING GROWTH
Slide 13: Brands, channels, supply chain
SRAMDS CTIANMELS SUPPLY CTHIATM
Slide 14: Non-e.l.f. sales, skin care, digital
N O N - E . L . F. S A L E S SKIN CARE D I G I TA L <1 % 10% 18% 2023 2023 2023 30% 2026 ~25 % 2026 30%2026 E.L.F. BEAUTY INTERNAL GLOBAL CONSUMPTION DATA, LTM AS OF Q1 FY 27
Slide 15: Non-China manufacturing
NON-CHINA MANUFACTURING 1% ~60% 2023 2026 NON-CHINA MANUFACTURING AS % OF PRODUCTION SPEND.
Slide 16: Quality, cost, speed
🌟 🏎 QUALITY COST SPEED
Slide 17: Slide 17
Slide 18: Slide 18
Slide 19: Value proposition, innovation, marketing, international, category adjacencies
💵 💡 🚀 🌍 ↔ VA L U E POWERHOUSE DISRUPTIVE I N T E R N AT I O N A L C AT E G O RY PROPOSITION I N N O VAT I O N MARKETING E X PA N S I O N ADJACENCIES
Slide 20: Value proposition
💵 VA L U E PROPOSITION
Slide 21: Democratizing access
D E M O C R AT I Z I N G ACCESS
Slide 22: Price comparison vs mass and prestige brands
A U R C O M PA R I S O N e.l.f. Cosmetics $7 Top Mass Brands $10 Prestige Brands ~$30 NIELSEN XAOC LATEST 52 WEEKS ENDING 7/11/26, COLOR COSMETICS CATEGORY. E.L.F. INTERNAL ESTIMATES
Slide 23: Pricing actions and unit momentum
pricing unit actions momentum
Slide 24: Priced appropriately, strong value prop
💸 💪 priced value prop appropriately strong
Slide 25: Superior value proposition: permanent price reduction
PERMANENT PRICE REDUCTION SUPERIOR VA L U E PROPOSITION 10% SKUS
Slide 26: Value proposition, innovation
💵 💡 VA L U E POWERHOUSE PROPOSITION I N N O VAT I O N
Slide 27: Community-led innovation
👂 💄 👂 💄 👂 💄 👂 👀 👂 👀 👂 👀 👂 👀 C O MM U NITY- LED I NNO VATI O N 👂 💄 👂 💄 👂 💄 👂 👀 👂 👀 👂 👀 👂 👀
Slide 28: Consumer requests driving innovation
PLEAAASE MAKE A CAN YOU OKAY HEAR ME OUT! BIGGER PRIMER 😭 . MAKE E.L.F.ING A GIANT HALO I RUN OUT OF THIS AFFORDABLE GLOW LIP GLOSS!! SIZE SO QUICK!! FRAGRANCES? 👏. 🩷✨
Slide 29: 4 of top 10 new launches ($ share)
4 OF TOP 10 NEW LAUNCHES $ SHARE NIELSEN XAOC L12W ENDING 7/11/2026. COLOR COSMETICS CATEGORY.
Slide 30: 5 of top 10 new launches (unit share)
5 OF TOP 10 NEW LAUNCHES UNIT SHARE NIELSEN XAOC L12W ENDING 7/11/2026. COLOR COSMETICS CATEGORY.
Slide 31: Consumer voice: if e.l.f. gave us Lorem Ipsum
IF E.L.F. GAVE US E.L.F. ASAP WE THREE WORDS: LOREM IPSUM, REALLY NEED R MY LIFE WOULD BE LOREM IPSUM COMPLETE
Slide 32: Value proposition, innovation, marketing
💵 💡 🚀 VA L U E POWERHOUSE DISRUPTIVE PROPOSITION I N N O VAT I O N MARKETING
Slide 33: Disruptive marketing engine
DISRUPTIVE CONCEPT MARKETING COMMUNITY ENGINE
Slide 34: e.l.f. ROI vs CPG benchmark
E . L . F. R O I V S B E N C H M A R K e.l.f. CPG Benchmark NIELSEN E.L.F. MARKETING MIX STUDY FISCAL YEAR 2025; EKIMETRICS E.L.F. MARKETING MIX STUDY FISCAL YEAR 2025
Slide 35: e.l.f. Cosmetics unaided awareness
E . L . F. C O S M E T I C S U N A I D E D A W A R E N E S S 2025 45% 2021 13% BOVITZ, INC. (2025 SEPTEMBER) MAKEUP CATEGORY ATTITUDES & USAGE STUDY COMMISSIONED BY E.L.F. COSMETICS; CONFIDENTIAL & PROPRIETARY
Slide 36: Most purchased brand by generation
#1 #1 #1 GEN ALPHA GEN Z MILLENNIALS MOST PURCHASED MOST PURCHASED MOST PURCHASED CIVIC SCIENCE APRIL 2024. PIPER SANDLER TAKING STOCK WITH TEENS SURVEY FALL 2025. CIVIC BOVITZ, INC. (2025 SCIENCE (APRILSEPTEMBER) 2024) MAKEUP CATEGORY ATTITUDES & USAGE STUDY COMMISSIONED BY E.L.F. COSMETICS.
Slide 37: Women reached by e.l.f.
👩👩👩👩👩👩👩👩👩 👩👩 👩👩 👩👩 IN 👩 👩 1 3 👩👩 👩👩 WOMEN 👩👩👩👩👩👩👩👩👩 BOVITZ, INC. (2025 SEPTEMBER) MAKEUP CATEGORY ATTITUDES & USAGE STUDY COMMISSIONED BY E.L.F. COSMETICS; CONFIDENTIAL & PROPRIETARY
Slide 38: $50M IEEPA tariff refunds: intend to fully invest
$50M IEEPA TARIFF REFUNDS INTEND TO FULLY INVEST IN BUSINESS Q1 FY 2027
Slide 39: $50M tariff refunds: pricing actions and marketing
$50M IEEPA TARIFF REFUNDS PRICING INCREASED ACTIONS MARKETING Q1 FY 2027
Slide 40: $50M tariff refunds: supports brands, sets up growth
$50M IEEPA TARIFF REFUNDS SUPPORTS STRENGTHENS SETS UP BRANDS POSITIONING GROWTH Q1 FY 2027
Slide 41: Value proposition through international expansion
💵 💡 🚀 🌍 VA L U E POWERHOUSE DISRUPTIVE I N T E R N AT I O N A L PROPOSITION I N N O VAT I O N MARKETING E X PA N S I O N
Slide 42: e.l.f. Beauty international sales penetration
I N T E R N AT I O N A L S A L E S P E N E T R AT I O N 10% E.L.F. BEAUTY 2020 21% E.L.F. BEAUTY 2026 INTERNATIONAL % OF NET SALES, PUBLIC FILINGS
Slide 43: International penetration vs global beauty peers
I N T E R N AT I O N A L S A L E S P E N E T R AT I O N 21% E. L.F. BEAUTY 2026 70% GLOBAL BEAUTY PEERS 2026 INTERNATIONAL % OF NET SALES, AS OF 6/30/26, PUBLIC FILINGS
Slide 44: Focus on growing share
FISCAL 27 FOCUS ON GROWING SHARE 🌱 🌰 🌱 🌰 🌱 🌰
Slide 45: Expanding presence, Fall 2026
FALL 2026 EXPANDING PRESENCE
Slide 46: Selectively seed in newer markets
FALL 2026 SELECTIVELY SEED IN NEWER MARKETS 🌱 🌰
Slide 47: Value proposition through category adjacencies
💵 💡 🚀 🌍 ↔ VA L U E POWERHOUSE DISRUPTIVE I N T E R N AT I O N A L C AT E G O RY PROPOSITION I N N O VAT I O N MARKETING E X PA N S I O N ADJACENCIES
Slide 48: Slide 48
Slide 49: Facial skin care category rank
#11 NIELSEN XAOC L52W ENDING 7/11/2026. FACIAL SKIN CARE CATEGORY.
Slide 50: e.l.f. SKIN $ share: leading mass skin care brand
E . L . F. S K I N $ S H A R E E.L.F. SKIN 2% LEADING MASS SKIN CARE BRAND 13% NIELSEN XAOC L52W ENDING 7/11/2026. SKIN CARE CATEGORY.
Slide 51: Launching e.l.f. SKIN in Dollar General this fall
L A U N C H I N G E . L . F. S K I N I N D O L L A R G E N E R A L T H I S F A L L
Slide 52: = of as
= of as 3 2
Slide 53: Price point: or less
gyi IE inn ag , MOISTURIZING SHAMPOg, OR LESS
Slide 54: $17B category in the US
$17B CATEGORY IN THE US CIRCANA COMPLETE BEAUTY 2025
Slide 55: TikTok Shop
TikTok Shop
Slide 56: What the H.E.L.F.?
WHAT THE H.E.L.F.?
Slide 57: 50% new to e.l.f.
50% NEW TO E.L.F. E.L.F. INTERNAL DATA.
Slide 58: Slide 58
Slide 59: Slide 59
Slide 60: #1 brand rank in body care
#1 FALL 2026 #1 BRAND RANK IN BODY CARE, 2026-TO-DATE, INTERNAL DATA
Slide 61: Slide 61
Slide 62: Curated assortment plus consumer engagement
CURATED PRODUCT ASSORTMENT + POWERFUL CONSUMER ENGAGEMENT = RECORD-SETTING CONSUMER DEMAND
Slide 63: Record-breaking launches
RECORD-BREAKING LAUNCHES SEPHORA AND MECCA, INTERNAL DATA.
Slide 64: Global Sephora stores
<20% GLOBAL SEPHORA STORES
Slide 65: Sephora European countries
atesebeAbe SEPHORA EUROPEAN COUNTRIES @ensetec Ve
Slide 66: Slide 66
Slide 67: rhode: $27M DTC sales in a single day
$27M DTC SALES IN A SINGLE DAY 90K NEW CONSUMERS 70% REPEAT BUYERS RHODE INTERNAL DATA.
Slide 68: Slide 68
Slide 69: Power Grip Primer
POWER GRIP PRIMER
Slide 70: Mandy Fields, SVP & Chief Financial Officer
MANDY FIELDS SVP & CHIEF FINANCIAL OFFICER
Slide 71: Q1 FY27 net sales growth +36%
NET SALES GROWTH +36 % Q1 FY27 YEAR OVER YEAR NET SALES GROWTH
Slide 72: Organic net sales excluding rhode
ORGANIC NET SALES ~IN LINE WITH HIGH SINGLE DIGIT DECLINE OUTLOOKED Q1 FY 2027 YEAR OVER YEAR ORGANIC NET SALES, EXCLUDING RHODE.
Slide 73: ~$160M contribution from rhode
~$160 M CONTRIBUTION FROM RHODE Q1 FY 2027
Slide 74: US and international net sales growth
+29% US NET SALES +61% INTERNATIONAL NET SALES Q1 FY 2027 YEAR OVER YEAR NET SALES GROWTH
Slide 75: Net sales growth drivers: pricing/mix and volumes
+ 39 PTS PRICING & PRODUCT MIX - 3 PTS UNIT VOLUMES Q1 FY 2027 NET SALES GROWTH DRIVERS
Slide 76: Gross margin
83% GROSS MARGIN +1, 400 BPS VS PRIOR YEAR Q1 FY 2027
Slide 77: Gross margin excluding tariff refunds
+1, 400 BPS VS PRIOR YEAR 1, 050 BPS BY $50M IEEPA 350 BPS EXCLUDING TARIFF REFUNDS REFUNDS Q1 FY 2027
Slide 78: Gross margin drivers
GROSS MARGIN DRIVERS pricing lower tariffs Q1 FY 2027
Slide 79: Adjusted SG&A
ADJUSTED SG&A Q1 FY 2027 54 % Q1 FY 2026 50% % OF NET SALES
Slide 80: Marketing & digital investment
M A R K E T I N G & D I G I TA L I N V E S T M E N T Q1 FY 2027 22% Q1 FY 2026 22% % OF NET SALES
Slide 81: Adjusted EBITDA
ADJUSTED EBITDA +36% EXCLUDING $168M REFUNDS Q1 FY 2027 $87M Q1 FY 2026
Slide 82: Adjusted net income & adjusted EPS
ADJUSTED NET INCOME & ADJUSTED EPS $40 M FROM TARIFF REFUNDS Q1 FY 2027 $105M Q1 FY 2026 $ 51 M $0.68 FROM TARIFF REFUNDS Q1 FY 2027 $1.75 Q1 FY 2026 $0.89
Slide 83: Balance sheet
BALANCE SHEET
Slide 84: $344M cash on hand
$344M CASH ON HAND ENDING CASH BALANCE, Q1 FY 2027
Slide 85: $53M tariff refunds including interest
$53M TARIFF REFUNDS INCLUDING INTEREST Q1 FY 2027, INCLUDED IN ENDING CASH BALANCE
Slide 86: $50M repurchased common stock expected FY 2027
$50M REPURCHASED COMMON STOCK EXPECTED FY 2027
Slide 87: FY 2027 cash priorities
FY 2027 CASH PRIORITIES pricing actions increased marketing investment technology SAP phase 2 working capital rhode earnout
Slide 88: Net debt / LTM adjusted EBITDA
<1.5 X NET DEBT / LTM ADJUSTED EBITDA Q1 FY 2027
Slide 89: Raising FY 2027 outlook
RAISING FY 2027 OUTLOOK +18-20% $3.50-3.55 NET SALES GROWTH ADJ. EPS $401-407M 25-26% ADJ. EBITDA ADJ. TAX RATE $ 212-215 M 60.5M ADJ. NET INCOME AVG. DILUTED SHARES
Slide 90: FY 2027 net sales outlook
FY 2027 NET SALES OUTLOOK +18-20 % NET SALES GROWTH +13 pts, rhode FIRST 4 MONTHS OF FISCAL YEAR +6-7% organic net sales RHODE CONTRIBUTING TO ORGANIC NET SALES AFTER 8/5/2026
Slide 91: FY 2027 organic net sales outlook
FY 2027 NET SALES OUTLOOK +6-7% ORGANIC +4-5% PREVIOUSLY RHODE CONTRIBUTING TO ORGANIC NET SALES AFTER 8/5/2026
Slide 92: Balance of year organic net sales growth
BALANCE OF YEAR (Q2 - Q4) +10-12 % ORGANIC NET SALES GROWTH +7-9% PREVIOUSLY EXPECTED Q2 - Q4 FY 2027 ORGANIC NET SALES GROWTH. RHODE CONTRIBUTING TO ORGANIC NET SALES AFTER 8/5/2026
Slide 93: Q2 net sales outlook
Q2 NET SALES OUTLOOK mid-30s NET SALES GROWTH improving trends on e.l.f. lapping temporary stop shipments rhode pipeline shipments for Sephora Europe RHODE CONTRIBUTING TO ORGANIC NET SALES AFTER 8/5/2026
Slide 94: FY 2027 adjusted EBITDA outlook
FY 2027 ADJ. EBITDA OUTLOOK $401-407 M ADJ. EBITDA + 20-21% GROWTH YOY
Slide 95: FY 2027 gross margin outlook
FY 2027 GROSS MARGIN OUTLOOK +200 BPS, YOY lower tariff costs and price increases mix
Slide 96: Fiscal outlook: flat gross margin excluding refunds
FISCAL 27 OUTLOOK FLAT GROSS MARGIN EXCLUDING REFUNDS
Slide 97: FY gross margin drivers
FY 27 GROSS MARGIN DRIVERS lower tariff rates price increases mix
Slide 98: FY 2027 marketing & digital outlook
FY 2027 OUTLOOK 23-25 % MARKETING & DIGITAL % OF NET SALES
Slide 99: Balance of year marketing & digital outlook
FY 2027 OUTLOOK BALANCE OF YEAR > 25 % MARKETING & DIGITAL % OF NET SALES
Slide 100: Balance of year adjusted EBITDA margins
BALANCE OF YEAR MID-TEENS ADJ. EBITDA MARGINS Q1 tariff refund received Q2 to Q4 - reinvested in marketing and pricing EXPECTED Q2 - Q4 FY 2027 ADJUSTED EBITDA MARGINS.
Slide 101: FY 2027 adjusted EBITDA outlook margins
FY 2027 ADJ. EBITDA OUTLOOK 21% MARGINS + 20 BPS, YOY
Slide 102: Slide 102
Slide 103: Q1 FY 2027 Earnings
elf BEAUTY Ql FY 2027 EARNINGS