e.l.f. Beauty's Q1 2025 net sales increased 50% year-over-year to $324.5 million, led by its retail and e-commerce channels.
During an analyst call following the earnings release, Tarang Amin, e.l.f. Beauty’s chairman and CEO said, "We’ve more than doubled our market share from about 4.5% in 2019 to 10% in 2023, placing us as a number three brand nationally. Given our momentum, we see an opportunity to double our share again over the next few years."
Based on these results, e.l.f. Beauty is now forecasting a 25-27% year-over-year increase in net sales, versus the previously estimated 20-22% increase.
The raised guidance is driven by growth across the company, though e.l.f. Beauty has clarified that Naturium's expected $48 million contribution to fiscal 2025 stands.
e.l.f. Beauty is reportedly picking up shelf space at Walmart, further driving results for the remainder of the year.
“We are off to a strong start this fiscal year, delivering 50% net sales growth and 260 basis points of market share gains in Q1,” said Amin. “This marked our 22nd consecutive quarter of both net sales growth and market share gains--putting e.l.f. Beauty in a rarified group of high growth consumer companies. We continue to make progress across color cosmetics, skin care and international and believe our unique areas of advantage will fuel our ability to win in fiscal 2025 and beyond.”
