Elf Beauty Reports 14% Sales Growth in Q2
Elf Beauty's net sales increased by 14% year-over-year to $343.9 million in the second quarter of fiscal 2026. This marks the first quarter that includes results from Rhode, acquired shortly before Q1 earnings in August.
Strong Market Performance and Brand Launches
“Our Q2 results, which included 140 basis points of market share gains for our namesake Elf brand and a record-breaking launch of Rhode in Sephora North America, are a continuation of the consistent, category-leading growth we’ve delivered over the past 27 quarters,” said Tarang Amin, Elf Beauty chair and CEO.
US revenues rose 18%, while international sales grew by 2% during the quarter.
Rhode Brand Drives Momentum
“The launch was [by far] the second best launch that they’ve had in North America, which is incredible to see,” CFO Mandy Fields told Vogue Business ahead of the earnings call. “Rhode continues to have momentum behind it.”
Elf Beauty expects Rhode to contribute $200 million in net sales from August through March post-acquisition.
Annual Sales Projections
“On an annualized basis, $300 million is what we expect Rhode to be for this fiscal year, and that would be 40% year-on-year growth,” said CFO Mandy Fields.
Mandy Fields also noted that Hailey Bieber’s beauty brand is on track to reach $300 million in annual sales.
Summary
Elf Beauty’s strategic acquisition of Rhode and its strong brand launches continue to drive significant sales growth and market share gains.