e.l.f. Beauty, Inc. (ELF) SEC Filings & Earnings Calls

Tariff and Trade Policy Uncertainty

“Changes in the US and international trade policies, including tariffs (and uncertainty related to the enforceability and implementation thereof), trade restrictions and retaliatory trade measures taken by other countries and resulting trade wars may have a material adverse impact on our business, financial condition and results of operations.” · word for word

Securities Class Action and Derivative Litigation

“On March 6, 2025 and April 8, 2025, the Company, its Chief Executive Officer, and its Chief Financial Officer were named as defendants in separate purported securities class action complaints.” · word for word

Integration Risk from Rhode Acquisition

“The process of integrating an acquired business, product or technology can create unforeseen operating difficulties, expenditures and other challenges.” · word for word

High Customer Concentration

“We depend on a limited number of retailers for a large portion of our net sales, and the loss of one or more of these retailers, or business challenges at one or more of these retailers, could adversely affect our results of operations.” · word for word

Supply Chain Disruption

“A disruption in our operations, including a disruption in the supply chain for our products, could materially and adversely affect our business.” · word for word

Tariff exposure remains a risk despite refunds; gross margin benefited from IEEPA tariff refunds of ~1050 bps, which may not recur.

“Gross margin increased approximately 1,400 basis points to 83%, including approximately 1,050 basis points benefit from IEEPA tariff refunds” · word for word

Increased leverage from rhode acquisition contingent consideration; fair value adjustment of $16.1M due to outperformance.

“Change in fair value of contingent consideration related to the acquisition of rhode ... $16.1 million for the three months ended June 30, 2026” · word for word

Tariff and Trade War Exposure

“The majority of our products are sourced and manufactured in China and beginning in early 2025, the Trump administration announced significantly higher tariffs (which peaked at 170% during FY 2026) on substantially all products of Chinese origin.” · word for word

Macroeconomic and Consumer Uncertainty

“In a period defined by tariff and inflationary pressures, geopolitical disruptions, economic uncertainty and shifting consumer behavior, our team executed with excellence.” · word for word

Acquisition Integration Risk (rhode)

“Change in fair value of contingent consideration related to the acquisition of rhode was $57.6 million in FY 2026.” · word for word

Customer concentration risk

“A limited number of our retail customers account for a large percentage of our net sales. We expect a small number of retailers will, in the aggregate, continue to account for the majority of our net sales for foreseeable future periods.” · word for word

China operations and trade policy risk

“We currently source and manufacture the majority of our products from third-party suppliers and manufacturers in China and have over 100 employees in China.” · word for word

Regulatory compliance cost (MoCRA)

“Compliance with the new requirements may further increase the cost of manufacturing certain of our products and could have a material adverse effect on our business, financial condition and results of operations.” · word for word

AI regulatory uncertainty

“The regulatory framework for machine learning technology, AI and automated decision making and the technologies underlying AI and their use cases are rapidly developing, and it is not possible to predict all of the legal, operational or technological risks related to the use of AI.” · word for word

Tariff headwinds impacting gross margin; FY gross margin declined 50bps to 71% due to higher tariff costs

“Gross margin decreased approximately 50 basis points to 71%, primarily driven by higher tariff costs, partially offset by benefits from pricing” · word for word

Increased leverage from rhode acquisition; total debt increased from $256.7M to $841.7M

“$841.7 million of total debt, as compared to $256.7 million of total debt outstanding as of March 31, 2025” · word for word

Tariff Exposure

“The majority of our products are sourced and manufactured in China and have been subject to a US 25% tariff since May 2019.” · word for word

Integration Risk (rhode)

“The process of integrating an acquired business, product or technology can create unforeseen operating difficulties, expenditures and other challenges.” · word for word

Securities Class Action

“On March 6, 2025 and April 8, 2025, the Company, our Chief Executive Officer, and our Chief Financial Officer were named as defendants in separate purported securities class action complaints.” · word for word

Leverage Increase

“As of December 31, 2025, we had a total of $849.2 million of indebtedness.” · word for word

Tariff cost pressure on gross margin

“Gross margin decreased approximately 30 basis points to 71%, primarily driven by higher tariff costs” · word for word

Increased debt and interest expense risk

“Long-term debt increased from $154.1M to $816.7M year-over-year”

Foreign currency fluctuation risk

“Other expense increased due to foreign currency losses”

Tariff Exposure

“The majority of our products are sourced and manufactured in China and have been subject to a US 25% tariff since May 2019. Furthermore, in March and April 2025, the Trump administration announced a series of additional tariffs on products from countries worldwide.” · word for word

Integration Risk (rhode)

“The process of integrating an acquired business, product or technology can create unforeseen operating difficulties, expenditures and other challenges such as: ... implementation or remediation of controls, procedures and policies at the acquired business; ... diversion of management time and focus.” · word for word

Leverage / Interest Rate Risk

“As of September 30, 2025, we had a total of $856.7 million of indebtedness... Our indebtedness could have significant consequences, including: requiring a substantial portion of our cash flows to be dedicated to debt service payments.” · word for word

Securities Class Action Litigation

“On March 6, 2025 and April 8, 2025, the Company, our Chief Executive Officer, and our Chief Financial Officer were named as defendants in separate purported securities class action complaints... The Company believes that it has substantial defenses to the allegations made in the lawsuits and intends to vigorously defend against them.” · word for word

Customer Concentration

“We depend on a limited number of retailers for a large portion of our net sales, and the loss of one or more of these retailers, or business challenges at one or more of these retailers, could adversely affect our results of operations.” · word for word

Tariff cost pressure: Higher tariff costs driving gross margin compression; partially offset by pricing and mix.

“Gross margin decreased approximately 165 basis points to 69%, primarily driven by higher tariff costs.” · word for word

SG&A escalation: SG&A expenses increased significantly ($45M to $231.1M) driven by marketing and distribution costs.

“SG&A expenses increased $45.0 million to $231.1 million, or 67% of net sales.” · word for word

Adjusted EPS decline: Fiscal 2026 outlook implies adjusted EPS decline from $3.39 to $2.80-2.85 despite revenue growth.

“Adjusted diluted earnings per share $2.80-2.85 vs $3.39 in Fiscal 2025.”