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e.l.f. Beauty Inc. (ELF+5.43%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports net sales of $355.3 million for the three months ended December 31, 2024, representing a 31% increase from $270.9 million in the same period the previous year. This growth was driven by increased sales in both retailer and e-commerce channels.
Gross profit for the quarter was $253.3 million, up from $192.0 million in the prior year period. The gross margin increased slightly to 71%, attributed to favorable foreign exchange impacts and cost savings.
Selling, general, and administrative expenses rose to $218.2 million from $160.1 million, primarily due to increased marketing and digital spend, higher compensation and benefits, and increased operational costs.
Operating income for the quarter was $35.1 million, compared to $31.8 million in the previous year. Net income was $17.3 million, down from $26.9 million, with the decrease attributed to higher income tax provisions and other expenses.
The company reported cash and cash equivalents of $73.8 million as of December 31, 2024, with a total availability of $10.5 million under its revolving credit facility.
e.l.f. Beauty completed the acquisition of Naturium LLC, a skincare company, for $333.0 million in a combination of cash and stock. The acquisition is expected to enhance the company's product offerings in the skincare category.
The filing outlines several risk factors, including competition in the beauty industry, reliance on third-party suppliers, and potential impacts from economic conditions.
The company continues to focus on its growth strategy, including expanding its product lines and enhancing its digital capabilities to drive consumer engagement.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the e.l.f. Beauty Inc. quarterly 10-Q report dated February 7, 2025. To report an error, please email earnings@qz.com.