e.l.f. Beauty has announced fiscal 2022 results for the three and nine months ended December 31, 2021. Three-month net sales increased 11% to $98.1 million, while nine-month net sales increased 27% to $287.0 million.
Results were strong enough that the company increased its full-year guidance, from a 14-16% net sales increase to a 17-19% increase.
Full-year net sales are now expected to total in the range of $372 to $379 million.
Look back: e.l.f. 2021 Full-year Results
Three-month gross margin increased approximately 110 basis points to 66%, while nine-month gross margin decreased approximately 130 basis points to 64%, driven by "unfavorable foreign exchange rates and elevated transportation costs."
Three-month net income was $6.2 million, while nine-month net income was $20.2 million on a GAAP basis.
Three-month adjusted EBITDA was $21.7 million, or 22% of net sales, up 18% year over year, while nine-month adjusted EBITDA was $61.9 million, or 22% of net sales, up 28% year over year.
“I am proud of the e.l.f. Beauty team for achieving our twelfth consecutive quarter of net sales growth,” said Tarang Amin, e.l.f. Beauty's chairman and CEO. “e.l.f. remains the only top five color cosmetics brand with sales growth and market share above pre-pandemic levels. Our innovation, digitally led strategy, core value proposition and ability to adapt at e.l.f. speed continue to fuel our performance. Given our momentum, we are raising our fiscal 2022 guidance.”