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Exhibit 99.1 E.L.F. BEAUTY e.l.f. Beauty Announces Second Quarter Fiscal 2022 Results - Delivered 27 % Net Sales Growth - - Gained 30 Basis Points of Market Share in Nielsen U.S. Color Cosmetics - - - Raises Fiscal 2022 Net Sales Guidance - OAKLAND , California ; November 3 , 2021 — e.l.f. Beauty ( NYSE : ELF ) today announced results for the three and six months ended September 30 , 2021 . " I am proud of the e.l.f. Beauty team for delivering our eleventh consecutive quarter of net sales growth , " said Tarang Amin , e.l.f. Beauty's Chairman and Chief Executive Officer . " In the second quarter , e.l.f. grew sales 27 % versus year ago and was again the only top 5 color cosmetics brand to grow market share above pre - pandemic levels , per Nielsen . Our performance demonstrates that our five strategic imperatives are driving results and we remain confident in the long - term growth potential for our portfolio of brands . " Three Months Ended September 30 , 2021 Results For the three months ended September 30 , 2021 , compared to the three months ended September 30 , 2020 : Net sales increased 27 % to $ 91.9 million , primarily driven by strength in our national and international retailers . Gross margin decreased approximately 200 basis points to 63 % , primarily driven by unfavorable foreign exchange rates , an increase in freight and shipping costs and an increase in inventory adjustments , partially mitigated by price increases , cost savings and mix . Selling , general and administrative expenses ( " SG & A " ) increased $ 5.3 million to $ 50.4 million or 55 % of net sales . Adjusted SG & A ( SG & A excluding the items identified in the reconciliation table below ) increased $ 7.9 million to $ 45.2 million , or 49 % of net sales . The increase in SG & A was primarily due to investments in marketing and digital and increased operational costs . The provision for income taxes was $ 0.5 million . Net income was $ 5.7 million on a GAAP basis . Adjusted net income ( net income excluding the items identified in the reconciliation table below ) was $ 11.3 million . Diluted earnings per share were $ 0.11 on a GAAP basis . Adjusted diluted earnings per share ( diluted earnings per share calculated with adjusted net income excluding the items identified in the reconciliation table below ) were $ 0.21 . Adjusted EBITDA ( EBITDA excluding the items identified in the reconciliation table below ) was $ 18.5 million , or 20 % of net sales , up 29 % year over year .