![]() with well-recognized game changers such as NASA, Microsoft and OpenAI. We are the only beauty company on the list, putting e.l.f. In Q4, Fast Company named us to their annual Top 50 World's Most Innovative Companies. We're humbled by the recognition we continue to receive. has been celebrated for the power of our company, brands and disruptive marketing engine. SKIN consumption was up 55% in tracked channels, well above category growth rates. Q4 category trends were also strong, up 12% versus a year ago. We continue to be the fastest-growing top 5 brand by a wide margin. We grew our market share by 270 basis points, increasing our rank from #5 a year ago to the #3 brand for the first time. ![]() continued to significantly outperform the category, growing 64% in tracked channels. In Q4, the category grew 18% versus a year ago. We're encouraged by the continued strength we're seeing across the color cosmetics category. In Q4, we grew net sales by 78%, increased gross margin by approximately 470 basis points and delivered $21 million in adjusted EBITDA, up 66%. Q4 marked our 17th consecutive quarter of net sales growth. In fiscal '23, we grew net sales by 48% and adjusted EBITDA by 56%, well above our original expectations, and hitting major milestones by reaching over $500 million in net sales and over $100 million in adjusted EBITDA for the first time. Our value proposition, powerhouse innovation and disruptive marketing engine continue to fuel our performance. we have so much to be proud of in fiscal '23. I want to start by recognizing the e.l.f. Today, we will discuss the drivers of our exceptional fiscal '23 performance and outlook for fiscal '24. Thank you, KC, and good afternoon, everyone. With that, let me turn the webcast over to Tarang. Our earnings release contains reconciliations of the differences between the non-GAAP presentation and the most directly comparable GAAP measure. In addition, the company's presentation today includes information presented on a non-GAAP basis. Since many of our remarks today contain forward-looking statements, please refer to our earnings release and reports filed with the SEC where you'll find factors that could cause actual results to differ materially from these forward-looking statements. We encourage you to tune into our webcast presentation for the best viewing experience, which you can access on our website at. With me today are Tarang Amin, Chairman and Chief Executive Officer and Mandy Fields, Senior Vice President and Chief Financial Officer. I'm KC Katten, Vice President of Corporate Development and Investor Relations. Beauty's fourth quarter and fiscal '23 results. Thank you for joining us today to discuss e.l.f. William Bates Chappell MD Truist Securities, Inc., Research Division Presentation Susan Kay Anderson Analyst Canaccord Genuity Corp., Research Division Rupesh Dhinoj Parikh MD & Senior Analyst Oppenheimer & Co. Olivia Tong Cheang MD & Research Analyst Raymond James & Associates, Inc., Research Division Oliver Chen MD & Senior Equity Research Analyst TD Cowen, Research Division Linda Ann Bolton-Weiser MD & Senior Research Analyst D.A. Wolfmeyer VP & Senior Research Analyst Piper Sandler & Co., Research Division Jon Robert Andersen Partner & Research Analyst William Blair & Company L.L.C., Research Division Beauty, Inc.Īndrea Faria Teixeira MD JPMorgan Chase & Co, Research DivisionĪnna Jeanne Lizzul Research Analyst BofA Securities, Research DivisionĪshley Elizabeth Helgans Equity Analyst Jefferies LLC, Research Divisionĭara Warren Mohsenian MD Morgan Stanley, Research Division Thankfully, a new blush came into my life right at the perfect moment.Kristina Casey Katten VP of IR e.l.f. Personally, I was not ready to give up my blush habit despite my 40-year-old skin trying to sink it away. The primary reason being that as the skin loosens, the pores expand as well, and blush can sink into these crevices on the skin and make the texture of the blush look rough.” Celebrity makeup artist Jamie Dorman, who has worked with Bella Hadid, Anne Hathaway, and Bebe Rexha, shared some insight: “As people get older, certain changes to the skin will affect the way blush looks on the skin. Could it be due to having oily skin and big pores, or was it because of my age? I recently turned 40, after all. My favorite blushes have always been powders, but as I’ve gotten older, I’ve noticed that they don’t sit on my skin as well as they used to. It was dependable-whenever I needed to brighten my complexion and look less like a zombie, I always chose blush over a bronzer. As I grew older and developed my own beauty routine, blush was still a favorite, even if it didn’t become a signature like winged eyeliner or red lipstick. Alongside lipstick (which I wore on picture day in the first grade, mind you), blush was my introduction to makeup. Ever since I was a kid, I was a fan of blush.
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