e.l.f. Beauty (ELF) Q1 FY2025 earnings: revenue $324 million, up 50.0% on the year

e.l.f. Beauty, Inc. (ELF) reported revenue of $324 million for Q1 FY2025, the quarter ended 30 June 2024, up 50.0% on the same quarter a year earlier. Net income was $48 million, down 10.2% on the year, and diluted earnings per share $0.81. The figures are the company's own, from the 10-Q it filed with the SEC on 9 August 2024.

Revenue$324 millionup 50.0%

Net income$48 milliondown 10.2%

Diluted EPS$0.81

QuarterQ1 FY2025ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2025	Q4 FY2024	A year earlier	Change on the year
Revenue	324	321	n/a	n/a
Cost of revenue	93.2	93.9	n/a	n/a
Gross profit	231	227	n/a	n/a
Gross margin	71.3%	70.7%	n/a
Selling, general and administrative	181	210	n/a	n/a
Operating income	50.7	17.0	n/a	n/a
Operating margin	15.6%	5.3%	n/a
Pre-tax income	47.2	11.2	n/a	n/a
Income tax	-0.3	-3.3	n/a	n/a
Effective tax rate	-0.7%	-29.9%	n/a
Net income	47.6	14.5	n/a	n/a
Net margin	14.7%	4.5%	n/a
Diluted EPS	$0.81	$0.25	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2025	Q4 FY2024	A year earlier	Change on the year
Operating cash flow	1.3	37.0	n/a	n/a
Capital expenditure	0.8	2.7	n/a	n/a
Free cash flow	0.5	34.3	n/a	n/a
Free cash flow margin	0.2%	10.7%	n/a
Cash from investing	-0.9	-3.7	n/a	n/a
Cash from financing	0.4	-0.1	n/a	n/a
Depreciation and amortisation	11.1	11.7	n/a	n/a
Share-based compensation	13.0	11.2	n/a	n/a
Diluted shares, weighted	59m	n/a	n/a	n/a
Shares outstanding at period end	56m	56m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2025	Q4 FY2024	A year earlier	Change on the year
Shareholders' equity	704	643	n/a	n/a
Debt	159	162	n/a	n/a
Operating lease liabilities	33.6	21.5	n/a	n/a
Finance lease liabilities	0.0	0.0	n/a	n/a
Other liabilities	308	303	n/a	n/a
Total liabilities and equity	1,205	1,129	n/a	n/a
Fixed assets	14.0	14.0	n/a	n/a
Goodwill	341	341	n/a	n/a
Intangible assets	221	225	n/a	n/a
Cash and equivalents	109	108	n/a	n/a
Receivables	156	124	n/a	n/a
Inventory	200	191	n/a	n/a
Other assets	165	126	n/a	n/a
Total assets	1,205	1,129	n/a	n/a

Quarterly results, the last 12 quarters

	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026	Q1 FY2027
Revenue	216	271	321	324	301	355	333	354	344	490	449	479
Cost of revenue	63.1	79.0	93.9	93.2	87.0	102	95.6	109	105	142	123	80.5
Gross profit	152	192	227	231	214	253	237	245	239	347	326	399
Gross margin	71%	71%	71%	71%	71%	71%	71%	69%	69%	71%	73%	83%
SG&A	112	160	210	181	186	218	193	196	231	280	319	280
Operating income	40.2	31.8	17.0	50.7	27.9	35.1	44.3	48.7	7.7	67.5	-50.3	102
Operating margin	19%	12%	5%	16%	9%	10%	13%	14%	2%	14%	-11%	21%
Pre-tax income	39.7	30.4	11.2	47.2	27.9	26.3	44.0	51.1	-4.0	53.9	-60.5	94.3
Tax rate	16%	12%	-30%	-1%	32%	34%	36%	35%	n/a	27%	n/a	29%
Net income	33.3	26.9	14.5	47.6	19.0	17.3	28.3	33.3	3.0	39.4	-49.4	66.6
Net margin	15%	10%	5%	15%	6%	5%	8%	9%	1%	8%	-11%	14%
Diluted EPS	$0.58	$0.46	$0.25	$0.81	$0.33	$0.30	$0.49	$0.58	$0.05	$0.65	-$0.82	$1.12
Operating cash flow	27.9	-17.1	37.0	1.3	11.2	-14.7	136	27.2	23.4	59.4	102	112
Capital expenditure	0.8	4.5	2.7	0.8	1.6	5.1	11.1	7.1	6.8	6.6	1.9	1.4
Free cash flow	27.1	-21.6	34.3	0.5	9.5	-19.8	125	20.1	16.6	52.8	101	110
Buybacks	n/a	0.0	n/a	n/a	n/a	0.0	n/a	0.0	0.0	50.0	0.0	50.0
Shares outstanding	55m	55m	56m	56m	56m	56m	56m	57m	59m	59m	59m	59m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 9 August 2024, accession 0001600033-24-000043: the filing on EDGAR. All of e.l.f. Beauty, Inc.'s filings: EDGAR company page.

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