Net sales for Beauty Elf increased 13% to $105.1 million for the three and 12 months ended March 31.
For the full year, net sales increased 23% to $392.2 million.
The increase was mainly due to the strength of its domestic and international retailers, company officials said.
“Our outstanding results in fiscal year 2022 underscore Elf’s core value proposition and deep connection to our consumers,” said Tarang Amin, President and CEO of elf Beauty. “I’m so proud of how our team continues to operate in this dynamic environment. We increased net sales 23% year-over-year while increasing our market share according to Nielsen. We were the only top five color cosmetics brand to increase sales and share above We are confident that our competitive advantages and differentiated brand portfolio will continue to fuel our momentum.
Gross margin increased by approximately 100 basis points to 64.2%, primarily driven by cost savings, accretive margin mix and price increases, partially offset by unfavorable foreign exchange rates and increased costs transport.
Selling, general and administrative (SG&A) expenses increased by $7.5 million to $65.3 million or 62.1% of net sales. Adjusted general and administrative expenses were $60.5 million, or 57.5% of net sales. The year-over-year increase in general and administrative expenses was primarily related to compensation, benefits and marketing investments.
Adjusted earnings before interest, taxes, depreciation and amortization was $12.8 million or 12.2% of net sales.