e.l.f. Beauty Inc. said its normalized net income for the third quarter came to a loss of 31 cents per share, compared with the S&P Capital IQ consensus estimate of 1 cents per share.

The per-share loss decreased 98.3% year over year from $17.70.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.6 million, compared with a loss of $538,750 in the year-earlier period.

The normalized profit margin fell to negative 3.8% from negative 1.1% in the year-earlier period.

Total revenue increased 10.9% on an annual basis to $56.3 million from $50.8 million, and total operating expenses increased 23.8% on an annual basis to $54.8 million from $44.3 million.

Reported net income came to a loss of $373.6 million, or a loss of $73.13 per share, compared to a loss of $4.7 million, or a loss of $154.42 per share, in the prior-year period.