E.l.f. Beauty, Inc. · NYSE:ELF
E.l.f. Beauty — Q1 FY2026 Earnings Presentation
85 slides from E.l.f. Beauty's earnings presentation, 2025
Slide 1: Q1 FY 2026 Earnings
Q1 FY 2026 EARNINGS
Slide 2: Forward-looking statements and non-GAAP notice
As a reminder, this call contains forward- looking statements that are based on management’s expectations – including those relating to the category trends and longer-term outlook – and are subject to known and unknown risks and uncertainties, and therefore, actual results may differ materially. Imp
Slide 3: Tarang Amin, Chairman & Chief Executive Officer
TARANG AMIN CHAIRMAN & CHIEF EXECUTIVE OFFICER
Slide 4: Q1 Results FY 2026 Approach
1 2 Q1 RESULTS FY 2026 APPROACH
Slide 5: Q1 Results
Q1 RESULTS +9 % +12 % +210 NET SALES ADJUSTED EBITDA BPS $ SHARE Q1 FY 2026 YEAR OVER YEAR GROWTH. NIELSEN XAOC, LATEST 12W ENDING 6/14/25, COLOR COSMETICS CATEGORY
Slide 6: Consecutive quarters of net sales growth and market share gains
26 $350M $300M CONSECUTIVE QUARTERS OF NET SALES GROWTH & MARKET SHARE GAINS $200M $100M $0 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 BARS REPRESENT NET SALES, $ MILLIONS
Slide 7: Cosmetics brand gaining market share for 26 consecutive quarters
14% 11 OF 12% COSMETICS BRANDS OUT OF 988 TO GAIN 8% MARKET SHARE FOR 26 CONSECUTIVE QUARTERS 4% 0% FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 BARS REPRESENT $ MARKET SHARE BY QUARTER, NIELSEN XAOC, LATEST PERIOD ENDING 6/14/25, COLOR COSMETICS CATEGORY
Slide 8: Long-term goals: double cosmetics, skin care, international
2X COSMETICS $1.3 B 2X $3 B SKIN CARE NET SALES NET SALES 2X INTERNATIONAL FY 2025 FUTURE
Slide 9: Q1 Progress
Q1 PROGRESS
Slide 10: Cosmetics
COSMETICS
Slide 11: Unit share and dollar share
~7% ~15% ~6% ~13% 2022 TODAY 2022 TODAY #1 #2 UNIT SHARE $ SHARE NIELSEN XAOC L52W ENDING 6/14/25, COLOR COSMETICS CATEGORY
Slide 12: Value proposition, disruptive innovation, marketing engine
VALUE POWERHOUSE DISRUPTIVE PROPOSITION INNOVATION MARKETING ENGINE
Slide 13: Average unit retail price comparison
A U R C O M PA R I S O N e.l.f. Cosmetics $6.50 Top Mass Brands $9.50 Prestige Brands >$20.00 NIELSEN XAOC LATEST 52 WEEKS ENDING 6/14/25, COLOR COSMETICS CATEGORY. E.L.F. INTERNAL ESTIMATES
Slide 14: Global price increase effective Aug 1
PRICING EFFECTIVE $1 Aug1 GLOBAL PRICE INCREASE
Slide 15: Third price increase in 21 years
3RD PRICE INCREASE IN 21 YEARS
Slide 16: Consumer comments on price increase
“IT’S STILL GOING TO “I’M STUCK ON E.L.F. BE AFFORDABLE!!!” LIKE POWER GRIP” @JENIFERWHITE0508 @BLACKISGOLDEN869 “STARTED WITH E.L.F. “THANKS FOR AND CAN’T WAIT TO REMAINING CRUELTY KEEP IT THAT WAY.” FREE AND VEGAN!!” @YOURFAVV_ISAAAA @ARAINBOWBUBBLE “EVEN AT $1 MORE, “LOVE YOUR PRODUCTS STILL A VA
Slide 17: Target dollar share
TA R G E T $ S H A R E #1 Need Target shelf set image to put here 21% NIELSEN XAOC LATEST 52 WEEKS ENDING 6/14/25, COLOR COSMETICS AT TARGET
Slide 18: Share gains in drug and grocery
DRUG +190 +140 +110 BPS BPS BPS GROCERY +200 +1,750 BPS BPS NIELSEN XAOC LATEST 12 WEEKS ENDING 6/14/25, COLOR COSMETICS CATEGORY
Slide 19: Serving the underserved
80 % OF STORES <20K PEOPLE S E RV I N G T H E U N D E R S E RV E D
Slide 20: Dollar General growth and new-to-e.l.f. shoppers
60 % $ GROWTH FROM SHOPPERS NEW TO DOLLAR GENERAL 53% OF SHOPPERS NEW TO E.L.F. S E RV I N G T H E U N D E R S E RV E D NUMERATOR, E.L.F. INTERNAL ESTIMATES
Slide 21: Price versus prestige comparisons
$11 $9 $18 $16 VS $38 VS $42 VS $48 VS $185 PRESTIGE PRESTIGE PRESTIGE PRESTIGE
Slide 22: $18 vs $48 prestige
VS $48 PRESTIGE $18
Slide 23: #1 cosmetics product on elfcosmetics.com
#1 cosmetics product on elfcosmetics.com
Slide 24: Innovation driving share gains
INNOVATION DRIVING SHARE GAINS
Slide 25: e.l.f. Cosmetics share gains and rank
E . L . F. C O S M E T I C S $ S H A R E #1 +130 22% #3 +600 13% #4 +150 9% SHARE GAINS SHARE GAINS IN BPS, BASED ON NIELSEN XAOC LATEST 12 WEEKS ENDING 6/14/25. $ SHARE AND RANK REPRESENT NIELSEN XAOC LATEST 52 WEEKS ENDING 6/14/25
Slide 26: Disruptive marketing engine
DISRUPTIVE MARKETING ENGINE
Slide 27: Marketing campaign timeline
MARCH MARCH APRIL APRIL M AY JUNE AUGUST SEPTEMBER SEPTEMBER OCTOBER OCTOBER OCTOBER OCTOBER NOVEMBER JANUARY JANUARY FEBRUARY FEBRUARY MARCH APRIL M AY M AY M AY JUNE
Slide 28: e.l.f.ing entertaining
E . L . F. I N G E N T E R TA I N I N G
Slide 29: Slide 29
Slide 30: Insight to action
+ to + INSIGHT TO _ et ACTION 4
Slide 31: Created in weeks, sold out in hours
CREATED IN SOLD OUT IN 4 < 24 WEEKS HOURS
Slide 32: Cosmetics, Skin Care
COSMETICS _- SKIN CARE
Slide 33: Skin care penetration
S K I N C A R E P E N E T R AT I O N 8% FY 2020 18% FY 2025 % OF CONSUMPTION
Slide 34: Two of the fastest growing mass skin care brands
TWO OF THE FASTEST GROWING MASS SKIN CARE BRANDS
Slide 35: $16 vs $185 prestige
VS $185 PRESTIGE $16
Slide 36: #1 skin care product on elfcosmetics.com
#1 skin care product on elfcosmetics.com
Slide 37: 91% of people prefer brands that are funny
91% OF PEOPLE PREFER BRANDS THAT ARE FUNNY
Slide 38: More likely to recall a brand that uses humor
90 % ARE MORE LIKELY TO RECALL A BRAND THAT USES HUMOR
Slide 39: That's sunhbinge
THAT’S SUNHBINGE:
Slide 40: Cosmetics, Skin Care, International
COSMETICS SKIN CARE INTERNATIONAL
Slide 41: International net sales growth
I N T E R N AT I O N A L +30 % NET SALES GROWTH Q1 FY 2026 YEAR OVER YEAR NET SALES GROWTH
Slide 42: UK growth versus category
3X #3 #4 CATEGORY GROWTH NIELSEN UK LATEST 12 WEEKS ENDING 6/14/25, COLOR COSMETICS CATEGORY
Slide 43: International consumer demand comments
🇫🇷 “PORTUGAL!?” 🇵🇹 🇪🇸 “FRANCE PLEASE” “I’M DYING TO 🇧🇷 BUY, COME TO @_MIAKRTM SPAIN!!!!!” “VEM PRO @_DISNORQUIS_ 🇱🇹 BRASIL!!!!!!!” “COME TO @PRISALGADO 🇿🇦 LITHUANIA U DONT IMAGINE 🇸🇦 “PLEASE CONSIDER SELLING YOUR HOW MUCH I “BRING TO THE PRODUCTS IN WANT TO BUY” MIDDLE EAST” SOUTH…
Slide 44: Kruidvat retailer in Netherlands and Belgium
>1,200 STORES #1 BEAUTY RETAILER KRUIDVAT RETAILER RANKING WITHIN NETHERLANDS AND BELGIUM
Slide 45: e.l.f. brand ranking within Kruidvat stores
#1 #2 E.L.F. COSMETICS BRAND RANKING WITHIN KRUIDVAT STORES WE’VE ENTERED
Slide 46: Fall 2025 expansion
FA L L 2 0 2 5 E X PA N S I O N E . L . F. N AT U R I U M
Slide 47: International penetration
I N T E R N AT I O N A L P E N E T R AT I O N 10% FY 2020 20% Q1 FY 2026, LTM $28M $266M % OF NET SALES
Slide 48: Slide 48
Slide 49: rhode net sales
$212 M NET SALES LATEST 12 MONTHS THROUGH 3/31/2025
Slide 50: elf Beauty
elf BEAUTY
Slide 51: Accelerate brand awareness
ACCELERATE BRAND AWARENESS
Slide 52: Expand distribution footprint
EXPAND DISTRIBUTION FOOTPRINT
Slide 53: Sephora and rhode announcement
my a 0 sephora and rhode / 7 @ 522k Q 1.2 VY 89.3k W (@DP Liked by harukohayakawa and others sephora the world of rhode is coming to Sephora |
Slide 54: Slide 54
Slide 55: e.l.f. Eyes. Lips. Face. at Sephora
SEPHORA EYES. LIPS. . FACE.
Slide 56: 21 years disrupting and driving industry-leading growth
21 YEARS DISRUPTING & DRIVING INDUSTRY-LEADING GROWTH
Slide 57: Long-term goals: double cosmetics, skin care, international
2X COSMETICS $1.3 B 2X $3 B SKIN CARE NET SALES NET SALES 2X INTERNATIONAL FY 2025 FUTURE
Slide 58: Mandy Fields, SVP & Chief Financial Officer
MANDY FIELDS SVP & CHIEF FINANCIAL OFFICER
Slide 59: Net sales growth Q1 FY26 vs Q1 FY25
+9 % Q1 FY26 NET SALES GROWTH +50 % Q1 FY25 NET SALES GROWTH YEAR OVER YEAR NET SALES GROWTH
Slide 60: US and international growth
+5 % +30 % US GROWTH INTERNATIONAL GROWTH Q1 FY 2026 YEAR OVER YEAR NET SALES GROWTH
Slide 61: Dollar share gain in bps
+210 BPS $ SHARE NIELSEN XAOC L12W ENDING 6/14/25, COLOR COSMETICS CATEGORY
Slide 62: Gross margin
69% GROSS MARGIN –215 BPS Q1 FY 2026
Slide 63: Q1 FY 2026 gross margin drivers
Mix Favorable FX rates Incremental tariff costs Q1 FY 2026 GROSS MARGIN DRIVERS
Slide 64: Adjusted SG&A
ADJUSTED SG&A Q1 FY 2026 50% Q1 FY 2025 51% % OF NET SALES
Slide 65: 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 2026 22% Q1 FY 2025 23% % OF NET SALES
Slide 66: FY 2026 marketing and digital spend outlook
M A R K E T I N G A N D D I G I TA L % O F N E T S A L E S 24-26% FY 2026 FY 2026 EXPECTED MARKETING AND DIGITAL SPEND OUTLOOK
Slide 67: Adjusted EBITDA
$87M ADJUSTED EBITDA +12 % GROWTH Q1 FY 2026
Slide 68: Adjusted net income and adjusted EPS
ADJUSTED NET INCOME & ADJUSTED EPS Q1 FY 2026 $51M Q1 FY 2025 $ 64 M Q1 FY 2026 $0.89 Q1 FY 2025 $1.10
Slide 69: Balance sheet & cash flow
BALANCE SHEET & CASH FLOW
Slide 70: Cash on hand
$170 M CASH ON HAND ENDING CASH BALANCE, Q1 FY 2026
Slide 71: Free cash flow
‘a $20m FREE CASH FLOW Ql FY 2026
Slide 72: Term loan and common stock
$600M TERM LOAN $200M 2.6M SHARES COMMON STOCK
Slide 73: Cash priorities
CASH PRIORITIES Invest behind growth initiatives Support strategic extensions
Slide 74: Cash priorities: people, infrastructure, ERP, international
CASH PRIORITIES Investing in people & infrastructure ERP transition to SAP International expansion
Slide 75: SAP update
S A P U P D AT E Go-live successful Business transacting
Slide 76: FY 2026
FY 2026
Slide 77: China share of global production
CHINA 75% OF GLOBAL PRODUCTION
Slide 78: Tariffs between April 9 and May 13
TA R I F F S 170 % BETWEEN APRIL 9 AND MAY 13
Slide 79: Tariffs May 14 to present
TA R I F F S 30% 25% 2025 2019 55% MAY 14 - PRESENT
Slide 80: Tariffs: annualized COGS impact
TA R I F F S 30% 25% 2025 2019 $50M ANNUALIZED COGS IMPACT
Slide 81: Tariff playbook
T A R I F F P L AY B O O K SUPPLY CHAIN BUSINESS PRICING OPTIMIZATION DIVERSIFICATION
Slide 82: Expected 1H net sales growth
>9 % 1H NET SALES GROWTH EXPECTED 1H FY 2026 NET SALES GROWTH
Slide 83: Expected 1H adjusted EBITDA margin
~ 20 % 1H ADJUSTED EBITDA MARGIN EXPECTED 1H FY 2026 ADJUSTED EBITDA MARGIN
Slide 84: Q2 adjusted EBITDA margin drivers
Q2 ADJUSTED EBITDA MARGIN DRIVERS Higher tariff COGs Timing shift in campaign spend Inclusion of rhode EXPECTED 1H FY 2026 ADJUSTED EBITDA MARGIN DRIVERS
Slide 85: GEL-YEAH MOIstURizeg
GEL-YEAH MOIstURizeg allantoin with plant-baseq squalane + prickly peat