ELF Beauty booked higher net sales in the fiscal first quarter, attributed to the performance of both retailer and e-commerce channels.

The makeup brand’s net sales surged 50 per cent to $324.5 million, with gross margin rising to 71 per cent.

“This marked our 22nd consecutive quarter of both net sales growth and market share gains–putting ELF Beauty in a rarified group of high growth consumer companies,” said Tarang Amin, ELF Beauty’s chairman and CEO.

“We continue to make progress across color cosmetics, skin care and international and believe our unique areas of advantage will fuel our ability to win in fiscal 2025 and beyond.”

However, the company’s net income declined 10.2 per cent to $47.6 million.

For the full fiscal year, the company increased its net sales forecast to between $1.28 billion and $1.3 billion.