New Risk • May 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 62% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks High level of debt (49% net debt to equity). Share price has been volatile over the past 3 months (8.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.6% net profit margin). Significant insider selling over the past 3 months (€8.5m sold). Announcement • May 22
e.l.f. Beauty, Inc. Provides Earnings Guidance for the Fiscal Year 2027 e.l.f. Beauty, Inc. provided earnings guidance for the fiscal year 2027. for the year, the company expects Net sales of $1,835 million-1,865 million. Reported Earnings • May 21
Full year 2026 earnings released: EPS: US$0.45 (vs US$1.99 in FY 2025) Full year 2026 results: EPS: US$0.45 (down from US$1.99 in FY 2025). Revenue: US$1.64b (up 25% from FY 2025). Net income: US$26.3m (down 77% from FY 2025). Profit margin: 1.6% (down from 8.5% in FY 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Personal Products industry in Europe. Announcement • May 07
e.l.f. Beauty, Inc. to Report Q4, 2026 Results on May 20, 2026 e.l.f. Beauty, Inc. announced that they will report Q4, 2026 results on May 20, 2026 Recent Insider Transactions • May 01
Chairman recently sold €2.3m worth of stock On the 27th of April, Tarang Amin sold around 42k shares on-market at roughly €54.26 per share. This transaction amounted to 3.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Tarang has been a net seller over the last 12 months, reducing personal holdings by €5.1m. New Risk • May 01
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €8.5m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.6% average weekly change). Minor Risks High level of debt (56% net debt to equity). Significant insider selling over the past 3 months (€8.5m sold). Buy Or Sell Opportunity • Apr 07
Now 21% overvalued Over the last 90 days, the stock has fallen 21% to €54.00. The fair value is estimated to be €44.47, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 4.4%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 26% per annum over the same time period. Recent Insider Transactions • Feb 26
Director recently bought €395k worth of stock On the 20th of February, Matthew Farrell bought around 5k shares on-market at roughly €78.91 per share. This transaction increased Matthew's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €25m more in shares than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €74.08, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 17x in the Personal Products industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €43.13 per share. Announcement • Feb 14
e.l.f. Beauty, Inc. Appoints Matthew Farrell as Class I Director, Effective February 12, 2026 e.l.f. Beauty, Inc. appointed Matthew Farrell to the Board of Directors as a Class I director, effective as of February 12, 2026. Matthew Farrell served as the Chief Executive Officer of Church & Dwight Co. Inc., a global consumer products company, from January 2016 until April 2025 and as Chairman from 2019 until September 2025. In 2006, Mr. Farrell joined Church & Dwight as Executive Vice President, Chief Financial Officer and served in that role until 2014 when he became the Chief Operating Officer and Chief Financial Officer until December 2015. Prior to joining Church & Dwight, Mr. Farrell served as Chief Financial Officer of Alpharma Inc. (now part of Pfizer), as Vice President, Investor Relations & Communications at Ingersoll-Rand Ltd., and in various senior financial positions at AlliedSignal Inc. (now Honeywell International Inc.). Mr. Farrell began his career with KPMG LLP, where he was an audit partner. Mr. Farrell has served as a member of the board of directors of Trinseo PLC, a global materials supplier of latex binders, plastics, and specialty products, since 2020 and is currently a member of the audit and compensation committees. In addition, Mr. Farrell has served as a member of the board of directors of Morton Salt, a major North American producer of salts, since July 2025, and Novanta, a global supplier of core technology solutions, since November 2025. He also served on the board of Lydall Co., Inc., a global manufacturer of specialty engineered products and materials (now part of Alkegen), from 2003 to 2021. Mr. Farrell received a B.S. degree from Manhattan College and is a certified public accountant (inactive). Mr. Farrell will stand for election to the Board at the 2026 annual meeting of stockholders of the Company. Reported Earnings • Feb 05
Third quarter 2026 earnings released: EPS: US$0.66 (vs US$0.31 in 3Q 2025) Third quarter 2026 results: EPS: US$0.66 (up from US$0.31 in 3Q 2025). Revenue: US$489.5m (up 38% from 3Q 2025). Net income: US$39.4m (up 128% from 3Q 2025). Profit margin: 8.0% (up from 4.9% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Personal Products industry in Europe. Announcement • Feb 05
E.L.F. Beauty, Inc. Raises Earnings Guidance for Fiscal 2026 e.l.f. Beauty, Inc. raised earnings guidance for fiscal 2026. For the period, the company now expects net sales of $1,600 million to $1,612 million against previous guidance for net sales of $1,550 to $1,570 million. The updated outlook for fiscal 2026 reflects an expected 22-23% year-over-year increase in net sales, as compared to an expected 18-20% increase previously. Announcement • Jan 22
e.l.f. Beauty, Inc. to Report Q3, 2026 Results on Feb 04, 2026 e.l.f. Beauty, Inc. announced that they will report Q3, 2026 results on Feb 04, 2026 Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €87.26, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 17x in the Personal Products industry in Europe. Announcement • Dec 19
E.L.F. Beauty Launches Glow Up, Redefining Virtual Makeup and Community on Roblox e.l.f. Beauty announced the launch of Glow Up!, a next-generation makeup game and immersive beauty experience on Roblox. Designed for players 13+, Glow Up! was engineered to deliver an experience that feels both aspirational and accessible: Next-Gen Tech: Engineered a new, inventive, and layered makeup system that allows for millions of unique looks. High-Fidelity Realism: Modernized with realistic finishes, textures, and makeup routines that mirror real life. Community "Livestreaming" Introduced an innovative new way to compete and celebrate through themed challenges. Inclusivity at the Core: Launched with four unique characters that champion women in sports, business, music, and gaming. Aligned with e.l.f.'s commitment to make the world a better place for every eye, lip and face, Glow Up! leads with innovation to prioritize inclusivity, so more players feel seen and represented on Roblox. Roblox audiences increasingly prefer more realistic, high-detail experiences: New, diverse characters will be released monthly, inspired by the 55% of Gen Z/Alpha who believe their virtual avatar represents them better than their physical self. Players become makeup artists preparing characters for major life moments. The game introduces a "livestream" mode that enables players to interact with each other's creations based on theme fit, creativity, and overall vibes, encouraging friendly competition and community engagement. Across the Roblox ecosystem, e.l.f. Beauty designs experiences that empower players to be their best, most authentic selves. e.l.f. UP! inspires young entrepreneurs, Fortune Island introduces financial literacy concepts through play, and Glow Up! centers around self-expression. Together, these experiences reflect e.l.f. beauty's mission to leave the platform better than they found it. Glow Up! was developed in collaboration with e.l.f''s longtime partner eGen and Exclusible, marking e.l.f.''s first partnership with the studio known for high-end, gameplay-first experiences. To play Glow Up!, visit the e.l.f. up! Community on Roblox. 
