e.l.f. Beauty, Inc. (NYSE:ELF) Q4 2024 Results Conference Call May 22, 2024 4:30 PM ET

Company Participants

KC Katten - Vice President of Corporate Development and Investor Relations
Tarang Amin - Chairman and Chief Executive Officer
Mandy Fields - Senior Vice President and Chief Financial Officer

Conference Call Participants

Andrea Teixeira - JPMorgan
Ashley Helgans - Jefferies
Dara Mohsenian - Morgan Stanley
Olivia Tong - Raymond James
Linda Bolton-Weiser - D.A. Davidson
Susan Anderson - Canaccord Genuity
Korinne Wolfmeyer - Piper Sandler
Peter Grom - UBS
Anna Lizzul - Bank of America
Oliver Chen - TD Cowen

KC Katten

Thank you for joining us today to discuss e.l.f. Beauty's Fourth Quarter and Fiscal '24 Results. I'm KC Katten, Vice President of Corporate Development and Investor Relations. With me today are Tarang Amin, Chairman and Chief Executive Officer; and Mandy Fields, Senior Vice President and Chief Financial Officer. We encourage you to tune into our webcast presentation for the best viewing experience, which you can access on our website at investor.elfbeautycom.

Since many of our remarks today contain forward-looking statements, please refer to our earnings release and reports filed with the SEC, where you'll find factors that could cause actual results to differ materially from these forward-looking statements. In addition, the Company's presentation today includes information presented on a non-GAAP basis. Our earnings release contains reconciliations of the differences between the non-presentation and the most directly comparable GAAP measure.

With that, let me turn the webcast over to Tarang.

Tarang Amin

Thank you, KC, and good afternoon, everyone. Today, we will discuss the drivers of our exceptional fourth quarter and fiscal '24 performance and our initial outlook for fiscal '25. I want to start by recognizing the e.l.f. Beauty team, we hit a major milestone this year, achieving over $1 billion in net sales.

In fiscal '24, we grew net sales by 77%, increased gross margin by approximately 330 basis points, grew adjusted EBITDA by 101% and increased market share of 305 basis points, well above our original expectations.

We recently rang the opening bell at the New York Stock Exchange to commemorate our 20th anniversary as a company and celebrate the exceptional, consistent, category-leading growth we've delivered over the last two decades.

Q4 marked our 21st consecutive quarter of both net sales growth and market share gains, putting e.l.f. Beauty in a rarified group of high-growth companies. We are one of only five public consumer companies out of 274 that has grown for 21 straight quarters and average at least 20% sales growth per quarter.