e.l.f. Beauty Files 2024 Annual Report

TL;DR

ELF's 2024 10-K is in! Full financial picture for the year ending March 31.

AI Summary

e.l.f. Beauty, Inc. filed its 10-K for the fiscal year ending March 31, 2024, reporting on its financial performance and business operations. The company, formerly known as J.A. Cosmetics Holdings, Inc., is based in Oakland, California. This filing provides a comprehensive overview of its fiscal year 2024 results and its position as of March 31, 2024.

Why It Matters

This 10-K filing provides investors and the public with a detailed look at e.l.f. Beauty's financial health, strategic initiatives, and potential risks for the fiscal year ending March 31, 2024.

Risk Assessment

Risk Level: medium — The filing covers a full fiscal year, and while it details financial performance, the nature of a 10-K inherently involves a broad range of potential business and market risks.

Key Numbers

• 20240331 — Fiscal Year End (The end date of the reporting period.)
• 20240523 — Filing Date (The date the 10-K was submitted to the SEC.)

Key Players & Entities

• e.l.f. Beauty, Inc. (company) — Filer of the 10-K
• J.A. Cosmetics Holdings, Inc. (company) — Former name of e.l.f. Beauty, Inc.
• 20240331 (date) — Fiscal year end date
• 20240523 (date) — Filing date
• Oakland, CA (location) — Company headquarters location

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value ELF New York Stock Exchange
• $6 — ge product price point is approximately $6, as compared to other leading mass cosm
• $9 — have average product price points over $9 and prestige cosmetics brands which hav
• $20 — have average product price points over $20, according to Nielsen. Powerhouse Inno
• $10 — e e.l.f. Cosmetics Power Grip Primer at $10 versus a prestige item at $38, the e.l.
• $38 — Primer at $10 versus a prestige item at $38, the e.l.f. Cosmetics Halo Glow Liquid
• $14 — f. Cosmetics Halo Glow Liquid Filter at $14 versus a prestige item at $49, and the
• $49 — Filter at $14 versus a prestige item at $49, and the e.l.f. SKIN Holy Hydration! Ma
• $11 — ation! Makeup Melting Cleansing Balm at $11 versus a prestige item at $38. Disrupt
• $256.0 m — e fiscal year ended March 31, 2024 were $256.0 million, approximately 25% of our net sal

Filing Documents

• elf-20240331.htm (10-K) — 1871KB
• q424exhibit1017.htm (EX-10.17) — 9KB
• q424exhibit191.htm (EX-19.1) — 132KB
• q424exhibit231.htm (EX-23.1) — 2KB
• q424exhibit311.htm (EX-31.1) — 10KB
• q424exhibit312.htm (EX-31.2) — 10KB
• q424exhibit321.htm (EX-32.1) — 6KB
• q424exhibit971.htm (EX-97.1) — 22KB
• q424exhibit972.htm (EX-97.2) — 37KB
• elf-20240331_g1.jpg (GRAPHIC) — 168KB
• 0001600033-24-000020.txt ( ) — 10627KB
• elf-20240331.xsd (EX-101.SCH) — 64KB
• elf-20240331_cal.xml (EX-101.CAL) — 147KB
• elf-20240331_def.xml (EX-101.DEF) — 263KB
• elf-20240331_lab.xml (EX-101.LAB) — 787KB
• elf-20240331_pre.xml (EX-101.PRE) — 582KB
• elf-20240331_htm.xml (XML) — 1596KB

Business

Business 2 Item 1A.

Risk factors

Risk factors 11 Item 1B. Unresolved staff comments 40 Item 1C . Cybersecurity 40 Item 2.

Properties

Properties 41 Item 3.

Legal proceedings

Legal proceedings 41 Item 4. Mine safety disclosures 41 PART II Item 5. Market for registrant's common equity, related stockholder matters and issuer purchases of equity securities 42 Item 6. [Reserved] 44 Item 7.

Management's discussion and analysis of financial condition and results of operations

Management's discussion and analysis of financial condition and results of operations 45 Item 7A.

Quantitative and qualitative disclosures about market risk

Quantitative and qualitative disclosures about market risk 53 Item 8.

Financial statements and supplementary data

Financial statements and supplementary data 55 Item 9. Changes in and disagreements with accountants on accounting and financial disclosure 55 Item 9A.

Controls and procedures

Controls and procedures 55 Item 9B. Other information 57 Item 9C. Disclosure regarding foreign jurisdictions that prevent inspections 58 PART III Item 10. Directors, executive officers and corporate governance 59 Item 11.

Executive compensation

Executive compensation 59 Item 12.

Security ownership of certain beneficial owners and management and related stockholder matters

Security ownership of certain beneficial owners and management and related stockholder matters 59 Item 13. Certain relationships and related transactions, and director independence 59 Item 14. Principal accounting fees and services 59 PART IV Item 15. Exhibits, financial statement schedules 60 Item 16. Form 10-K summary 63

Signatures

Signatures 65 Table of C ontents CAUTIONARY NOTE ABOUT FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K ("Annual Report") contains forward-looking statements within the meaning of the federal securities laws concerning our business, operations and financial performance and condition, as well as our plans, objectives and expectations for our business operations and financial performance and condition. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "aim," "anticipate," "assume," "believe," "contemplate," "continue," "could," "due," "estimate," "expect," "goal," "intend," "may," "objective," "plan," "predict," "potential," "positioned," "seek," "should," "target," "will," "would" and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations, estimates, forecasts and projections about our business and the industry in which we operate and management's beliefs and assumptions and are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. Although we believe that the expectations reflected in the forward-looking statements contained herein are reasonable, our actual results and the timing of selected events may differ materially. Factors that may cause actual results to differ materially from current expectations include, among other things, those listed under Part I, Item 1A. "Risk factors" and elsewhere in this Annual Report. Potential investors are urged to consider these factors carefully in evaluating the forward-looking statements. These forward-looking statements speak only as of the date of this Annual Report

Business

Item 1. Business. Overview e.l.f. Beauty, Inc. ("e.l.f. Beauty" and together with our subsidiaries, the "Company," or "we") is a multi-brand beauty company that offers inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. Our Vision . To be a different kind of beauty company by building brands that disrupt industry norms, shape culture and connect communities through positivity, inclusivity and accessibility. Our Mission . We make the best of beauty accessible to every eye, lip, face and skin concern. Our Purpose . We stand with every eye, lip, face and paw. Our Brands Our family of brands includes e.l.f. Cosmetics, e.l.f. SKIN, Naturium, Well People and Keys Soulcare. Our brands are available online and across leading beauty, mass-market and specialty retailers. We have strong relationships with our retail customers such as Target, Walmart, Ulta Beauty and other leading retailers that have enabled us to expand distribution both domestically and internationally. 2 Table of C ontents e.l.f. Cosmetics Since 2004, e.l.f. Cosmetics has made the best of beauty accessible to every eye, lip and face. We make premium-quality, prestige-inspired cosmetics at an extraordinary value. We offer a range of products that are clean, vegan, cruelty free and manufactured in a Fair Trade Certified TM facility. As one of the first digital disruptors, e.l.f. continues to attract a highly engaged audience, leveraging social and digital platforms to connect with our community. e.l.f. SKIN Win in skin the clean + kind way with e.l.f. SKIN. We create targeted, ingredient-focused, dermatologist-developed formulas for every eye, lip, face and skin concern. Our ambition is to make skin care accessible to all with innovative, efficacious formulas at get-real prices. We offer a range of products that are clean, vegan, cruelty free and manufactured in a Fair Trade Certified TM facility. Naturium Driven by the belief that skin care should be and can