e.l.f. Beauty has announced its fourth quarter 2022 results that show net sales were $105.1 million, compared to $92.6 million in the previous year. Net sales for fiscal year 2022 increased 23% from 2021's $318.1 million to $392.2 million.
Gross profit was $67.5 million, compared to $58.6 million in the previous year.
Net income was $1.6 million
Fiscal Year 2022
Gross profit was $251.7 million, compared to $206.2 million in the previous year.
Net income was $21.8 million.
Fiscal 2023 Outlook
The outlook for fiscal 2023 reflects an expected 10-12% increase in net sales.
Tarang Amin, e.l.f. Beauty's chairman and CEO, said, "Our outstanding results in fiscal 2022 underscore e.l.f.’s core value proposition and deep connection with our consumers. I am so proud of how our team continues to execute in this dynamic environment. We grew net sales by 23% year over year while building market share according to Nielsen. We were the only top 5 color cosmetics brand to grow sales and share above pre-pandemic levels by a wide margin. We believe our competitive advantages and differentiated brand portfolio will continue to fuel our momentum.”