ELF Beauty’s expanding brand portfolio helped lift its annual sales by 25 per cent this fiscal year, with acquisitions such as Rhode and Naturium driving momentum.

For the 12 months ended March 31, net sales rose to $1.64 billion, supported by growth across retail and e-commerce channels in both the US and international markets. 

Net income reached $26.3 million and adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 13 per cent to $335.2 million.

Quarterly performance remained steady, with fourth-quarter net sales increasing 35 per cent year-over-year to $449.3 million.

ELF Beauty also recorded a $57.6 million fair value adjustment linked to the acquisition of Rhode, after the brand exceeded revenue targets tied to its earnout agreement.

Tarang Amin, chairman and CEO of ELF Beauty, said the latest results extended a multi-year growth streak.

“All five of our brands grew this year, with Rhode and Naturium delivering particularly strong results and reinforcing the power of our expanding brand portfolio,” said Amin.

“The whitespace opportunity in front of us across brands, categories, and geographies gives us great confidence in the runway ahead.”