Slides
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Q1 FY 2026 EARNINGS
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As a reminder, this call contains forward- looking statements that are based on management’s expectations – including those relating to the category trends and longer-term outlook – and are subject to known and unknown risks and uncertainties, and therefore, actual results may differ materially. Important factors that may cause actual results to differ are detailed in today’s press release and the company’s SEC filings. In addition, the company’s presentation today includes information presented on a non-GAAP basis. We refer you to today’s press release, located on our website at https://investor.elfbeauty.com, for a reconciliation of the differences between the non-GAAP presentation and the most directly comparable GAAP measures.
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CHAIRMAN & CHIEF EXECUTIVE OFFICER TARANG AMIN
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FY 2026 APPROACH 2 Q1 RESULTS 1
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+ 9 % NET SALES + 1 2 % ADJUSTED EBITDA Q1 FY 2026 YEAR OVER YEAR GROWTH. NIELSEN XAOC, LATEST 12W ENDING 6/14/25, COLOR COSMETICS CATEGORY + 210 BPS $ SHARE Q1 RESULTS
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CONSECUTIVE QUARTERS OF NET SALES GROWTH & MARKET SHARE GAINS 26 FY 23FY 22FY 21FY 20 FY 24FY 19 FY 25 FY 26 BARS REPRESENT NET SALES, $ MILLIONS $350M $0 $100M $200M $300M
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BARS REPRESENT $ MARKET SHARE BY QUARTER, NIELSEN XAOC, LATEST PERIOD ENDING 6/14/25, COLOR COSMETICS CATEGORY COSMETICS BRANDS OUT OF 988 TO GAIN MARKET SHARE FOR 26 CONSECUTIVE QUARTERS 1 OF 1 14% 0% 4% 8% 12% FY 23FY 22FY 21FY 20 FY 24FY 19 FY 25 FY 26
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$250M $ 1 .3 B FY 2025 FUTURE $3B 2 X COSMETICS 2 X SKIN CARE 2 X INTERNATIONAL NET SALES NET SALES
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Q1 PROGRESS
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COSMETICS
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# 1 UNIT SHARE # 2 $ SHARE NIELSEN XAOC L52W ENDING 6/14/25, COLOR COSMETICS CATEGORY ~ 13 % TODAY ~ 6 % 2022 ~ 15 % TODAY ~ 7 % 2022
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DISRUPTIVE MARKETING ENGINE POWERHOUSE INNOVATION VALUE PROPOSITION
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NIELSEN XAOC LATEST 52 WEEKS ENDING 6/14/25, COLOR COSMETICS CATEGORY. E.L.F. INTERNAL ESTIMATES AUR COMPARISON e.l.f. Cosmetics $ 6.50 Top Mass Brands $ 9.50 Prestige Brands >$ 20.00
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PRICING $1 GLOBAL PRICE INCREASE Aug1 EFFECTIVE
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3RD PRICE INCREASE IN 21 YEARS
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“I’M STUCK ON E.L.F. LIKE POWER GRIP” @BLACKISGOLDEN869 “STARTED WITH E.L.F. AND CAN’T WAIT TO KEEP IT THAT WAY.” @YOURFAVV_ISAAAA “YOU’VE BEEN MY RIDE OR DIE SINCE 7TH GRADE.” @SOFIA.SARACOGLU “EVEN AT $1 MORE, STILL A VALUE!” @VANEVIGIL_VV “Y’ALL ARE SO WORTH IT. FAV FAV BRAND.” @JENNETTEALEIGH “LOVE YOUR PRODUCTS SO MUCH IT’S WORTH THE EXTRA $1” @JACATTACKS “IT’S STILL GOING TO BE AFFORDABLE!!!” @JENIFERWHITE0508 “THANKS FOR REMAINING CRUELTY FREE AND VEGAN!!” @ARAINBOWBUBBLE
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Need Target shelf set image to put here TARGET $ SHARE # 1 NIELSEN XAOC LATEST 52 WEEKS ENDING 6/14/25, COLOR COSMETICS AT TARGET 21 %
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+ 1 40 BPS + 1 1 0 BPS DRUG + 1 90 BPS + 2 00 BPS GROCERY + 1 , 7 50 BPS NIELSEN XAOC LATEST 12 WEEKS ENDING 6/14/25, COLOR COSMETICS CATEGORY
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80 % < 20K OF STORES PEOPLE SERVING THE UNDERSERVED
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60 % 53 % $ GROWTH FROM SHOPPERS NEW TO DOLLAR GENERAL OF SHOPPERS NEW TO E.L.F. SERVING THE UNDERSERVED NUMERATOR, E.L.F. INTERNAL ESTIMATES
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$ 18 VS $48 PRESTIGE $ 16 VS $185 PRESTIGE $ 11 VS $38 PRESTIGE $ 9 VS $42 PRESTIGE
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$18 VS $48 PRESTIGE
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#1 cosmetics product on elfcosmetics.com
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INNOVATION DRIVING SHARE GAINS
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E.L.F. COSMETICS $ SHARE SHARE GAINS IN BPS, BASED ON NIELSEN XAOC LATEST 12 WEEKS ENDING 6/14/25. $ SHARE AND RANK REPRESENT NIELSEN XAOC LATEST 52 WEEKS ENDING 6/14/25 22 % 1 3 % # 4 9 % # 3 # 1 + 1 30 + 600 + 1 50 SHARE GAINS
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DISRUPTIVE MARKETING ENGINE
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MARCH APRIL MAY MAY MAY JUNE OCTOBER NOVEMBER JANUARY JANUARY FEBRUARY FEBRUARY AUGUST SEPTEMBER SEPTEMBER OCTOBER OCTOBER OCTOBER MARCH MARCH APRIL APRIL MAY JUNE
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E.L.F.ING ENTERTAINING
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INSIGHT TO ACTION
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4 WEEKS CREATED IN < 24 HOURS SOLD OUT IN
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COSMETICS SKIN CARE
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SKIN CARE PENETRATION 8% FY 2020 % OF CONSUMPTION 18% FY 2025
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TWO OF THE FASTEST GROWING MASS SKIN CARE BRANDS
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$16 VS $185 PRESTIGE
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#1 skin care product on elfcosmetics.com
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91% OF PEOPLE PREFER BRANDS THAT ARE FUNNY
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90% ARE MORE LIKELY TO RECALL A BRAND THAT USES HUMOR
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COSMETICS SKIN CARE INTERNATIONAL
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Q1 FY 2026 YEAR OVER YEAR NET SALES GROWTH INTERNATIONAL + 3 0 % NET SALES GROWTH
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# 3 NIELSEN UK LATEST 12 WEEKS ENDING 6/14/25, COLOR COSMETICS CATEGORY # 4 3X CATEGORY GROWTH
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“I’M DYING TO BUY, COME TO SPAIN!!!!!” @_DISNORQUIS_ 🇪🇸 “PLEASE CONSIDER SELLING YOUR PRODUCTS IN SOUTH AFRICA” @TASNEEMMATTHEE 🇿🇦 “FRANCE PLEASE” @_MIAKRTM 🇫🇷 “COME TO LITHUANIA U DONT IMAGINE HOW MUCH I WANT TO BUY” @WHAT.EVA13 🇱🇹 “BRING TO THE MIDDLE EAST” @SUZANNEALQATTAN77 🇸🇦 “VEM PRO BRASIL!!!!!!!” @PRISALGADO 🇧🇷 “PORTUGAL!?” 🇵🇹
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> 1 ,200 KRUIDVAT RETAILER RANKING WITHIN NETHERLANDS AND BELGIUM # 1 STORES BEAUTY RETAILER
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E.L.F. COSMETICS BRAND RANKING WITHIN KRUIDVAT STORES WE’VE ENTERED # 1 # 2
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E.L.F. NATURIUM FALL 2025 EXPANSION
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INTERNATIONAL PENETRATION 10% FY 2020 % OF NET SALES 20% Q1 FY 2026, LTM $28M $266M
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LATEST 12 MONTHS THROUGH 3/31/2025 $212M NET SALES
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ACCELERATE BRAND AWARENESS
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EXPAND DISTRIBUTION FOOTPRINT
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21 YEARS DISRUPTING & DRIVING INDUSTRY-LEADING GROWTH
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$250M $ 1 .3 B FY 2025 FUTURE $3B 2 X COSMETICS 2 X SKIN CARE 2 X INTERNATIONAL NET SALES NET SALES
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SVP & CHIEF FINANCIAL OFFICER MANDY FIELDS
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YEAR OVER YEAR NET SALES GROWTH +9% Q1 FY26 NET SALES GROWTH +50% Q1 FY25 NET SALES GROWTH
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Q1 FY 2026 YEAR OVER YEAR NET SALES GROWTH +5% US GROWTH +30% INTERNATIONAL GROWTH
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+ 210 BPS $ SHARE NIELSEN XAOC L12W ENDING 6/14/25, COLOR COSMETICS CATEGORY
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BPS – 21 5 69 % GROSS MARGIN Q1 FY 2026
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Q1 FY 2026 GROSS MARGIN DRIVERS Favorable FX rates Mix Incremental tariff costs
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50 % % OF NET SALES 51 % Q1 FY 2026 Q1 FY 2025 ADJUSTED SG&A
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22 % % OF NET SALES 23 % Q1 FY 2026 Q1 FY 2025 MARKETING & DIGITAL INVESTMENT
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FY 2026 EXPECTED MARKETING AND DIGITAL SPEND OUTLOOK MARKETING AND DIGITAL % OF NET SALES 24-26 % FY 2026
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Q1 FY 2026 GROWTH + 1 2 % $87M ADJUSTED EBITDA
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ADJUSTED NET INCOME & ADJUSTED EPS Q1 FY 2025 $ 64 M Q1 FY 2026 $ 5 1 M Q1 FY 2025 $ 1. 10 Q1 FY 2026 $ 0.89
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BALANCE SHEET & CASH FLOW
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ENDING CASH BALANCE, Q1 FY 2026 $ 1 70 M CASH ON HAND
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Q1 FY 2026 $ 20 M FREE CASH FLOW
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2.6M SHARES COMMON STOCK $ 600 M TERM LOAN $ 200 M
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CASH PRIORITIES Invest behind growth initiatives Support strategic extensions
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CASH PRIORITIES Investing in people & infrastructure ERP transition to SAP International expansion
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SAP UPDATE Go-live successful Business transacting
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FY 2026
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CHINA 75% OF GLOBAL PRODUCTION
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TARIFFS 170% BETWEEN APRIL 9 AND MAY 13
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TARIFFS 55% 25 % 2019 30 % 2025 MAY 14 - PRESENT
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TARIFFS $50M ANNUALIZED COGS IMPACT 25 % 2019 30 % 2025
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PRICING SUPPLY CHAIN OPTIMIZATION BUSINESS DIVERSIFICATION TARIFF PLAYBOOK
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EXPECTED 1H FY 2026 NET SALES GROWTH > 9 % 1H NET SALES GROWTH
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EXPECTED 1H FY 2026 ADJUSTED EBITDA MARGIN ~ 20 % 1H ADJUSTED EBITDA MARGIN
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Timing shift in campaign spend Higher tariff COGs Inclusion of rhode Q2 ADJUSTED EBITDA MARGIN DRIVERS EXPECTED 1H FY 2026 ADJUSTED EBITDA MARGIN DRIVERS