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Benjamin Fitzgerald Published
February 7, 2025
E.L.F Beauty announced on Tuesday net sales for the third quarter increased 85% to $270.9 million, driven by strength in both retailer and e-commerce channels.
On the back of the quarterly surged, the U.S. beauty firm said sales for the nine-month period ending December 31 increased 80% to $702.8 million, with net income of $113.1 million.
Net income for the three month reached $26.9 million, said the company, up from $19.1 million last year.
“Our vision is to create a different kind of beauty company and you can see that in the exceptional, consistent, category-leading growth we’ve delivered,” said Tarang Amin, E.L.F. Beauty’s chairman and chief executive officer.
“In Q3, we grew net sales by 85% and market share by 305 basis points, marking our 20th consecutive quarter of growth in each. I’m extremely proud of our team and the progress we continue to make across color cosmetics, skin care and internationally.”
On October 4, the company closed the acquisition of Naturium, a fast-growing, high performance skin care brand, for $333 million in a combination of cash and company stock. At the time, the company said acquisition furthers its mission "to make the best of beauty accessible to every eye, lip, face and skin concern."
As a result of the strong sales update, the company updated its outlook for fiscal 2025. It now expects a 69-71% year-over-year increase in net sales, as compared to an expected 55-57% increase previously.