The cosmetics company, known for its viral TikTok marketing and middle-of-the-road pricing, saw sales jump 76% compared with the prior year.
The cosmetics company, known for its viral TikTok marketing and middle-of-the-road pricing, also saw profits nearly triple compared with the year-ago period.$215.5 million vs. $197.1 million expected
The strong results prompted the company to raise its full-year outlook for the second quarter in a row. It now expects net sales to increase between 55% and 57% to an estimated range of $896 million to $906 million. That's ahead of projected full-year sales of $852 million, or growth of 47.1%, that analysts had expected, according to LSEG.
During the quarter, the company increased its marketing spend, helping to propel sales. But CEO Tarang Amin said E.l.f.'s success is more than just effective advertising. When asked how long Wall Street can expect to see such strong sales growth, Amin said the company's raised guidance "speaks for itself."
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