ELF Beauty’s annual sales exceed $1 billion

On Wednesday, ELF Beauty said annual sales rose 77 percent to $1.02 billion, marking the highest year of revenue growth in the history of the U.S. beauty retailer.

In the fourth quarter ended March 31, net sales increased 71 percent to $321.1 million, driven primarily by the strength of the company’s retail and e-commerce channels.

Net income for the quarter fell to $14.5 million on a GAAP basis compared to $1compared to the previous year, and the annual net profit increased to USD 6.2 million127.7 million in the twelve months compared to $61.5 million.

“Fiscal 2024 was our strongest year of net sales growth ever, continuing the exceptional, consistent and category-leading growth we have achieved,” said Tarang Amin, president and CEO of ELF Beauty.

“In the fourth quarter, we increased net sales by 71% and increased our market share by 325 basis points, marking our 21st consecutive quarter of net sales and market share growth. Looking ahead, we believe we are still in the early stages of unlocking the full potential we see for ELF Beauty in the beauty, skincare and international markets.”

Looking to the future, volThe company expects net sales growth of 20-22% in fiscal year 2025.

In October, ELF Beauty completed the acquisition of Naturium, a fast-growing, high-performance skin care brand, for $333 million in cash and company stock. The company said the acquisition “furthers its mission to make the best of beauty available to everyone with eye, lip, face and skin conditions.”