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cd96eed1808c0aa12bc22fce807324760f162a993a5a5e2e471214386100c010

Depreciation and amortization (USD, thousands)

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Debt issuance costs paid (USD, thousands)

Repurchase of common stock (USD, thousands)

Proceeds from exercise of stock options (USD, thousands)

Other, net, Financing activities (USD, thousands)

Net cash (used in) provided by financing activities (USD, thousands)

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Cash, cash equivalents and restricted cash - beginning of period (USD, thousands)

Cash, cash equivalents and restricted cash - end of period (USD, thousands)

b8b3a32e3103db48287324adeddf5213315ccc18e9e60b52867883f5e61f3f72

The documents indicate that **cash levels were lower in Q3 2025** primarily because of a combination of factors. **Increased SG&A expenses**—rising from **$186.1 million in Q2 2025 to $218.2 million in Q3 2025**—suggest that higher marketing, compensation, and operational costs weakened cash reserves. Additionally, the company experienced an **unanticipated foreign currency loss of approximately $7 million**, which likely further reduced cash. Investments in **inventory growth and other expansion initiatives** also contributed to the cash outflows. However, while these factors provide insight, the documents do not offer a detailed breakdown of cash flow activities for Q3 2025.  **[0001600033-25-000006_elf-20241231.htm:4]** **[0001600033-24-000050_elf-20240930.htm:4]** **[0001600033-25-000004_q32025er-991.htm:0]** **[ELF_3414754_6]** 

Why was Cash and cash equivalents so low in Q3 2025?

The dramatic increase in the current portion of long-term debt in Q4 2024 was driven by an increase in total debt—specifically, a new revolving line of credit of **$89,500 thousand** and a significant rise in the term loan from **$66,250 thousand** in 2023 to **$173,375 thousand** in 2024—as well as the reclassification of **$100.3 million** of this debt as current because it became due within the next 12 months.  **[0001600033-24-000020_elf-20240331.htm:125]** 

What drove the dramatic increase in the current portion of long-term debt in Q4 2024?

The **total assets nearly doubled** in FY 2024 because several key asset components experienced substantial increases. In FY 2024, there were significant rises in **goodwill** (from **$171,620 thousand to $340,600 thousand**), **intangible assets, net** (from **$78,041 thousand to $225,094 thousand**), **inventory, net** (from **$81,323 thousand to $191,489 thousand**), **accounts receivable, net** (from **$67,928 thousand to $123,797 thousand**), and **other assets** (from **$34,741 thousand to $72,502 thousand**). These increases reflect business combinations and acquisitions, investments in intellectual property, scaling of inventory to support higher sales, and increased customer receivables, which collectively contributed to the nearly doubled total assets in FY 2024.  **[0001600033-24-000020_elf-20240331.htm:111]** 

Why did Total assets nearly double in FY 2024?

6bb8025d7ce2ce40d59c8b32f4e0d916882a4e4e5dc0eef5a53f5f4d0a296705

Cash and cash equivalents (USD, thousands)

Accounts receivable, net (USD, thousands)

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d7217c9d2ba2e7501b3c3ee3f1abb68ee457273b0686d662437fc2979f80eabd

Current Assets (USD, thousands)

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Accounts Receivable (USD, thousands)

Inventory (USD, thousands)

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Accounts Payable (USD, thousands)

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Common Stock (USD, thousands)

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9cce39fa76c702bf0a2fe0c12989840718fee12c124c1ff05b0feb1967606ca4

United States

International

Total Revenue

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Total Revenue (USD, thousands)

Cost of Goods Sold (COGS) (USD, thousands)

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Operating Income (EBIT) (USD, thousands)

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Earnings Per Share (EPS) - Diluted (USD)

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48964206f540e4c38eb6424d4f7d71ad806b2cf9d4b7eb38ca45c0e2f000d13b

e.l.f. Beauty (ELF)

Financials