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23rd Consecutive Quarter of Growth


The wider beauty slowdown isn’t hitting E.l.f.’s sales as the company clocked in its 23rd consecutive quarter of growth and raised its full-year forecast.

The Oakland, Calif-based beauty company’s net sales increased 40 percent to $301.1 million for its fiscal 2025 second quarter ended Sept. 30, up from $215.5 million a year earlier and beating analysts’ estimates of $289 million. The earnings report, which was released after the stock market closed, sent shares soaring 20 percent in after-hours trading, having closed down 3 percent Wednesday at $104.16.

“We continue to see great results behind our value proposition, our powerhouse innovation and our disruptive marketing engine. That’s one of the reasons why we’re the only cosmetics company that’s grown market share for 23 straight quarters,” said chairman and CEO Tarang Amin in an interview.

As a result of the quarter’s sales performance, the company raised its full-year sales outlook to between $1.31 billion and $1.35 billion, up from the previous estimate of between $1.28 billion and $1.3 billion.

Net income was $19 million, down from $33.2 million. Adjusted diluted earnings per share were 77 cents, down from 82 cents, but way above Wall Street estimates of 43 cents.

Amin revealed that during the quarter E.l.f. has been given more shelf space in both Target, its first retail partner, and Walgreens.

“At Target we’re their number-one brand with over 20 percent of the entire category so it reflects the strength that we have there and I love the fact that they’re not standing still. They continue to support the brand, continue to drive. That’s on the heels of the space that Walmart gave and so we feel really good about the continued momentum we have.”

E.l.f. also continued with its international expansion push and recently launched in Sephora Mexico, its first time in both that retailer and that country.

Amin hinted that there may be more to come in regard to it partnering with Sephora. “There are other markets around the world that we are in discussions with Sephora about. Everyone is interested in E.l.f. right now.”

It also entered Germany via drug store chain Rossmann’s 1,200 doors, its biggest international expansion to date.

According to Amin, both have been more successful than anticipated. “So much of our social feed is consumed outside the U.S., and there’s almost this pent-up demand from consumers around the world.”

Naturium, meanwhile, which E.l.f. recently acquired, completed a nationwide rollout into Ulta Beauty.



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