e.l.f. Beauty (ELF) Consumer Analyst Group of New York Conference (CAGNY) 2026 summary

Growth Performance and Brand Portfolio

• Achieved a 23% net sales CAGR over the past decade, outpacing the beauty category's 4% CAGR, and delivered 28 consecutive quarters of net sales growth.

• Gained 800 basis points of market share in color cosmetics over five years, now #2 in color cosmetics and #1 at Target, while top competitors lost share.

• Four brands—e.l.f. Color, e.l.f. SKIN, Naturium, and rhode—each surpassed $200 million in retail sales, with rhode becoming the top brand at Sephora North America and the UK.

• Appeals across generations, leading among Gen Z, Gen Alpha, and Millennials, and maintains multigenerational fandom.

• Employee engagement and board diversity far exceed industry averages, with 71% women, 43% diverse employees, and a board that is 60% women and 40% diverse.

Competitive Advantages and Innovation

• Core value proposition centers on premium quality at accessible prices, saving consumers money without compromising quality or values.

• Powerhouse innovation engine creates viral, cult-favorite products and franchises, with four franchises exceeding $200 million and Power Grip Primer as the #1 SKU in cosmetics.

• Hybrid manufacturing model in Shanghai enables unmatched quality, cost, and speed, leading to top positions in 21 categories in 2025, up from eight in 2018.

• Disruptive marketing leverages early adoption of platforms like TikTok Shop, Roblox, and Twitch, fostering direct community engagement and cultural relevance.

• Marketing investments have tripled unaided awareness in major countries over five years, with nine products sold every second globally and a Beauty Squad loyalty program with 6.3M members driving 80% of DTC sales.

Financial Strength and Future Opportunities

• Gross margin improved from 41% to 70%, with FY 2026 gross margin outlook at 70% and adjusted EBITDA margin at 20%, both above industry averages.

• Adjusted EBITDA margin exceeds 20%, with net leverage under 2x, supporting strategic acquisitions and growth.

• Sees opportunity to more than double net sales in coming years across cosmetics, skincare, and international markets, with FY 2026 net sales outlook at $1.6B.

• U.S. color cosmetics market share at 13% (unit leader, #2 in dollars), with potential to become #1 in dollar share.

• International sales currently 20% of total, with a 55% five-year CAGR in international markets and significant expansion potential as peers average 70%; rhode and Naturium show strong global demand.