Slides
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elf BEAUTY Q1 FY 2027 EARNINGS
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CHAIRMAN & CHIEF EXECUTIVE OFFICER TARANG AMIN
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+ 36 % NET SALES Q1 FY 2027
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CONTINUOUS QUARTERS OF NET SALES GROWTH FY 23FY 22FY 21FY 20 FY 24FY 19 FY 25 FY 26 FY 27 BARS REPRESENT NET SALES, $ MILLIONS $500M $0 $125M $250M $375M 7 + CONTINUOUS YEARS
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BARS REPRESENT NET SALES, $ MILLIONS CONSUMER COMPANIES OUT OF 516 THAT HAS GROWN FOR 30 CONSECUTIVE QUARTERS 1 OF 6 > 20 % AVG GROWTH PER QUARTER $500M $0 $125M $250M $375M FY 23FY 22FY 21FY 20 FY 24FY 19 FY 25 FY 26 FY 27
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18-20% NET SALES GROWTH FISCAL 2027 OUTLOOK
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~ 1 , 800 COSMETICS & SKIN CARE BRANDS 14 >$200M IN RETAIL SALES 3 >$900M IN RETAIL SALES NIELSEN XAOC, LATEST 52 WEEKS ENDING 7/11/2026. COLOR COSMETICS AND FACIAL SKIN CARE CATEGORIES. NOTE: NATURIUM AND RHODE NOT CAPTURED IN NIELSEN XAOC DATA
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DISRUPTIVE MARKETING ENGINE POWERHOUSE INNOVATION VALUE PROPOSITION
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# 1 UNIT SHARE NIELSEN XAOC L52W ENDING 7/11/2026. COLOR COSMETICS CATEGORY. # 2 $ SHARE E.L.F. COSMETICS
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#25 #11 TODAY FY 2021 E.L.F. SKIN $ SHARE RANK NIELSEN XAOC L52W ENDING 7/11/2026. SKIN CARE CATEGORY.
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TOP 50 SKIN CARE BRANDS, CIRCANA, 3 MONTHS ENDED 6/30/2026. MASSTIGE SKIN CARE CATEGORY BY DOLLAR VOLUME SALES FASTEST GROWING
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OUTSTANDING GROWTH
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30% 2026 ~25% 2026 NON-E.L.F. SALES E.L.F. BEAUTY INTERNAL GLOBAL CONSUMPTION DATA, LTM AS OF Q1 FY 27 SKIN CARE <1% 2023 10% 2023 30% 2026 DIGITAL 18% 2023
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~60% 2026 NON-CHINA MANUFACTURING 1% 2023 NON-CHINA MANUFACTURING AS % OF PRODUCTION SPEND. 30% 18%
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š š QUALITY COST SPEED
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INTERNATIONAL EXPANSION POWERHOUSE INNOVATION CATEGORY ADJACENCIES š” š ā VALUE PROPOSITION šµ DISRUPTIVE MARKETING š
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VALUE PROPOSITION šµ
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DEMOCRATIZING ACCESS
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NIELSEN XAOC LATEST 52 WEEKS ENDING 7/11/26, COLOR COSMETICS CATEGORY. E.L.F. INTERNAL ESTIMATES AUR COMPARISON e.l.f. Cosmetics $ 7 Top Mass Brands $ 10 Prestige Brands ~$ 30
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pricing actions unit momentum
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šø priced appropriately šŖ value prop strong
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10% SKUS PERMANENT PRICE REDUCTION SUPERIOR VALUE PROPOSITION
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POWERHOUSE INNOVATION š” VALUE PROPOSITION šµ
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š š š š š š š š š š š š š š š š š š š š š š š š š š š š COMMUNITY-LED INNOVATION
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PLEAAASE MAKE A BIGGER PRIMER . I RUN OUT OF THIS SIZE SO QUICK!! š OKAY HEAR ME OUT! A GIANT HALO GLOW LIP GLOSS!! š©· āØ CAN YOU MAKE E.L.F.ING AFFORDABLE FRAGRANCES? . š
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4 OF TOP 10 NEW LAUNCHES $ SHARE NIELSEN XAOC L12W ENDING 7/11/2026. COLOR COSMETICS CATEGORY.
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5 OF TOP 10 NEW LAUNCHES UNIT SHARE NIELSEN XAOC L12W ENDING 7/11/2026. COLOR COSMETICS CATEGORY.
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E.L.F. ASAP WE REALLY NEED LOREM IPSUM WHEN ARE YOU COMING OUT WITH HAIR PRODUCTS? IF E.L.F. GAVE US LOREM IPSUM, MY LIFE WOULD BE COMPLETE THREE WORDS:
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POWERHOUSE INNOVATION š” VALUE PROPOSITION šµ DISRUPTIVE MARKETING š
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CONCEPT COMMUNITY DISRUPTIVE MARKETING ENGINE
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NIELSEN E.L.F . MARKETING MIX STUDY FISCAL YEAR 2025; EKIMETRICS E.L.F . MARKETING MIX STUDY FISCAL YEAR 2025 e.l.f. CPG Benchmark E.L.F. ROI VS BENCHMARK
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BOVITZ, INC. (2025 SEPTEMBER) MAKEUP CATEGORY ATTITUDES & USAGE STUDY COMMISSIONED BY E.L.F. COSMETICS; CONFIDENTIAL & PROPRIETARY 2025 2021 E.L.F. COSMETICS UNAIDED AWARENESS 45 % 1 3 %
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CIVIC SCIENCE (APRIL 2024) GEN Z MOST PURCHASED # 1 GEN ALPHA MOST PURCHASED # 1 MILLENNIALS MOST PURCHASED # 1 CIVIC SCIENCE APRIL 2024. PIPER SANDLER TAKING STOCK WITH TEENS SURVEY FALL 2025. BOVITZ, INC. (2025 SEPTEMBER) MAKEUP CATEGORY ATTITUDES & USAGE STUDY COMMISSIONED BY E.L.F. COSMETICS.
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š© š© š© š© š© š© š© š© š© š© š© š© š© š© š© š© š© š© š© š© š© š© š© š© š© š© š© š© š© š© WOMEN 1 IN 3 BOVITZ, INC. (2025 SEPTEMBER) MAKEUP CATEGORY ATTITUDES & USAGE STUDY COMMISSIONED BY E.L.F. COSMETICS; CONFIDENTIAL & PROPRIETARY
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INTEND TO FULLY INVEST IN BUSINESS Q1 FY 2027 IEEPA TARIFF REFUNDS $50M
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PRICING ACTIONS Q1 FY 2027 IEEPA TARIFF REFUNDS $50M INCREASED MARKETING
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SUPPORTS BRANDS Q1 FY 2027 IEEPA TARIFF REFUNDS $50M STRENGTHENS POSITIONING SETS UP GROWTH
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INTERNATIONAL EXPANSION POWERHOUSE INNOVATION š” š VALUE PROPOSITION šµ DISRUPTIVE MARKETING š
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INTERNATIONAL SALES PENETRATION 10% E.L.F. BEAUTY 2020 21% E.L.F. BEAUTY 2026 INTERNATIONAL % OF NET SALES, PUBLIC FILINGS
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INTERNATIONAL SALES PENETRATION 70% GLOBAL BEAUTY PEERS 2026 21% E.L.F. BEAUTY 2026 INTERNATIONAL % OF NET SALES, AS OF 6/30/26, PUBLIC FILINGS
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FISCAL 27 FOCUS ON GROWING SHARE š° š± š° š° š± š±
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FALL 2026 EXPANDING PRESENCE
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FALL 2026 SELECTIVELY SEED IN NEWER MARKETS š° š±
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INTERNATIONAL EXPANSION POWERHOUSE INNOVATION CATEGORY ADJACENCIES š” š ā VALUE PROPOSITION šµ DISRUPTIVE MARKETING š
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#11 NIELSEN XAOC L52W ENDING 7/11/2026. FACIAL SKIN CARE CATEGORY.
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2 % E.L.F. SKIN $ SHARE NIELSEN XAOC L52W ENDING 7/11/2026. SKIN CARE CATEGORY. LEADING MASS SKIN CARE BRAND E.L.F. SKIN 13 %
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LAUNCHING E.L.F. SKIN IN DOLLAR GENERAL THIS FALL
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$10 OR LESS
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$17B CATEGORY IN THE US CIRCANA COMPLETE BEAUTY 2025
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WHAT THE H.E.L.F.?
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50% NEW TO E.L.F. E.L.F. INTERNAL DATA.
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#1 FALL 2026 #1 BRAND RANK IN BODY CARE, 2026-TO-DATE, INTERNAL DATA
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CURATED PRODUCT ASSORTMENT POWERFUL CONSUMER ENGAGEMENT RECORD-SETTING CONSUMER DEMAND + =
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RECORD-BREAKING LAUNCHES SEPHORA AND MECCA, INTERNAL DATA.
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< 20 % GLOBAL SEPHORA STORES
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19 EUROPEAN COUNTRIES
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$ 27 M DTC SALES IN A SINGLE DAY 90 K NEW CONSUMERS 70 % REPEAT BUYERS RHODE INTERNAL DATA.
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SVP & CHIEF FINANCIAL OFFICER MANDY FIELDS
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YEAR OVER YEAR NET SALES GROWTH +36% Q1 FY27 NET SALES GROWTH
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ORGANIC NET SALES Q1 FY 2027 YEAR OVER YEAR ORGANIC NET SALES, EXCLUDING RHODE. ~IN LINE WITH HIGH SINGLE DIGIT DECLINE OUTLOOKED
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Q1 FY 2027 ~$160M CONTRIBUTION FROM RHODE
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Q1 FY 2027 YEAR OVER YEAR NET SALES GROWTH US NET SALES +29% INTERNATIONAL NET SALES +61%
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Q1 FY 2027 NET SALES GROWTH DRIVERS PRICING & PRODUCT MIX +39PTS UNIT VOLUMES -3PTS
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Q1 FY 2027 GROSS MARGIN 83% BPS VS PRIOR YEAR +1,400
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BPS BY $50M IEEPA TARIFF REFUNDS 1,050 BPS EXCLUDING REFUNDS 350 BPS VS PRIOR YEAR +1,400 Q1 FY 2027
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Q1 FY 2027 lower tariffs pricing GROSS MARGIN DRIVERS
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54 % % OF NET SALES 50 % Q1 FY 2027 Q1 FY 2026 ADJUSTED SG&A
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22 % % OF NET SALES 22 % Q1 FY 2027 Q1 FY 2026 MARKETING & DIGITAL INVESTMENT
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Q1 FY 2027 $168M Q1 FY 2026 $87M ADJUSTED EBITDA + 36 % EXCLUDING REFUNDS
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ADJUSTED NET INCOME & ADJUSTED EPS Q1 FY 2026 $ 51 M Q1 FY 2027 $ 105 M $ 0.89 $ 1.75 Q1 FY 2026 Q1 FY 2027 $ 40 M FROM TARIFF REFUNDS $ 0.68 FROM TARIFF REFUNDS
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BALANCE SHEET
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ENDING CASH BALANCE, Q1 FY 2027 $ 344 M CASH ON HAND
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Q1 FY 2027, INCLUDED IN ENDING CASH BALANCE $ 53 M TARIFF REFUNDS INCLUDING INTEREST
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EXPECTED FY 2027 $ 50 M REPURCHASED COMMON STOCK
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pricing actions increased marketing investment technology SAP phase 2 working capital rhode earnout FY 2027 CASH PRIORITIES
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Q1 FY 2027 < 1 .5 X NET DEBT / LTM ADJUSTED EBITDA
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ADJ. EBITDA $ 40 1 - 407 M NET SALES GROWTH + 1 8-20 % ADJ. NET INCOME $ 2 1 2- 21 5 M ADJ. TAX RATE 25-26 % ADJ. EPS $ 3.5 0- 3.55 AVG. DILUTED SHARES 60.5 M RAISING FY 2027 OUTLOOK
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FY 2027 NET SALES OUTLOOK + 1 8 -20 % NET SALES GROWTH RHODE CONTRIBUTING TO ORGANIC NET SALES AFTER 8/5/2026 +13 pts, rhode FIRST 4 MONTHS OF FISCAL YEAR +6-7% organic net sales
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FY 2027 NET SALES OUTLOOK + 6-7 % ORGANIC RHODE CONTRIBUTING TO ORGANIC NET SALES AFTER 8/5/2026 + 4-5 % PREVIOUSLY
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BALANCE OF YEAR (Q2 - Q4) EXPECTED Q2 - Q4 FY 2027 ORGANIC NET SALES GROWTH. RHODE CONTRIBUTING TO ORGANIC NET SALES AFTER 8/5/2026 + 1 0- 1 2 % ORGANIC NET SALES GROWTH + 7-9 % PREVIOUSLY
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Q2 NET SALES OUTLOOK RHODE CONTRIBUTING TO ORGANIC NET SALES AFTER 8/5/2026 improving trends on e.l.f. lapping temporary stop shipments mid-30s NET SALES GROWTH rhode pipeline shipments for Sephora Europe
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FY 2027 ADJ. EBITDA OUTLOOK $ 401-407 M ADJ. EBITDA + 20 -2 1 % GROWTH YOY
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FY 2027 GROSS MARGIN OUTLOOK lower tariff costs and price increases + 200 BPS, YOY mix
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FISCAL 27 OUTLOOK FLAT GROSS MARGIN EXCLUDING REFUNDS
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price increases lower tariff rates FY 27 GROSS MARGIN DRIVERS mix
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MARKETING & DIGITAL % OF NET SALES 23-25 % FY 2027 OUTLOOK
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MARKETING & DIGITAL % OF NET SALES > 25 % FY 2027 OUTLOOK BALANCE OF YEAR
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BALANCE OF YEAR MID-TEENS ADJ. EBITDA MARGINS Q1 tariff refund received Q2 to Q4 - reinvested in marketing and pricing EXPECTED Q2 - Q4 FY 2027 ADJUSTED EBITDA MARGINS.
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FY 2027 ADJ. EBITDA OUTLOOK 21 % MARGINS + 20 BPS, YOY
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Q1 FY 2027 EARNINGS