0001600033-26-000007
SEC filinge.l.f. Beauty closed the rhode acquisition for $897.5M, added $512M goodwill, and repurchased $50M in stock; $400M buyback authority remains.
As of December 31, 2025, e.l.f. Beauty held $196.8M in cash and equivalents, up from $148.7M at March 31, 2025, driven by financing activities for the rhode acquisition. Total debt stood at $849.2M (gross), comprised of a $592.5M term loan facility and $256.7M drawn on the revolving credit facility. Shareholders' equity increased to $1,161.8M from $760.9M, reflecting the equity issuance for rhode and retained earnings. Inventory was $220.6M, up from $187.2M at March 31, 2025, partly due to the acquisition.
The company has operating lease commitments totaling $103.5M, with $2.3M payable in the remainder of fiscal 2026, $23.6M in the next one to three years, and $77.7M thereafter. These leases are primarily for warehouses, distribution centers, and office space. No material purchase commitments for inventory or capacity were disclosed in the Notes.
During the three months ended December 31, 2025, e.l.f. repurchased 626,049 shares for $50.0M at an average price of $79.84 per share under the 2024 Share Repurchase Program. As of December 31, 2025, $400.0M remains available for future repurchases. No dividends were declared. The company issued $600.0M in term loan debt to partially fund the rhode acquisition, increasing total debt by $592.5M from March 31, 2025. Capital expenditures are not separately disclosed in the Notes; however, cash flow statements show $20.6M spent in the nine months ended December 31, 2025 (not in Notes).
e.l.f. Beauty operates as a single reportable segment. The Notes provide disaggregated revenue by geography: U.S. net sales were $389.7M (79.6% of total) and International $99.8M (20.4%) for the three months ended December 31, 2025. Segment expenses include marketing, merchandising, and distribution costs of $162.9M; compensation and benefits of $70.6M; and other operating costs of $46.4M (including G&A and D&A). Operating income for the segment was $67.5M, with net income of $39.4M.