E.l.f. Beauty sales were up 27 percent year-over-year for the second quarter.
The company’s sales were $55.9 million for the quarter, up 27 percent year-over-year from $44.1 million. The business posted a $2.7 million loss for the quarter, related to its initial public offering. For the six-month period ended June 30, E.l.f. posted $116.4 million in sales, up from $96.8 million in the prior-year period. For that period, E.l.f. posted $1.1 million in net income.
“We are pleased with our strong progress in Q2 highlighted by a 27 percent increase in net sales and over 700 basis point expansion in gross margin,” stated Tarang Amin, chairman and chief executive officer. “Our performance continues to demonstrate the successful execution of our mission to make luxurious beauty accessible for all.”
The company reaffirmed guidance, projecting net sales between $285 million and $295 million for the full year, with earnings before interest, taxes, depreciation and amortization between $61 million and $64 million.