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Elf Beauty swings to loss in Q2

e.l.f. Beauty Inc. said its second-quarter normalized net income came to a loss of $3.44 per share, compared with $59.65 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.8 million, compared with income of $1.6 million in the prior-year period.

The normalized profit margin fell to negative 6.4% from 4.5% in the year-earlier period.

Total revenue grew 21.8% on an annual basis to $44.1 million from $36.3 million, and total operating expenses rose 28.1% on an annual basis to $43.7 million from $34.1 million.

Reported net income came to a loss of $96.4 million, or a loss of $117.32 per share, compared to a loss of $1.6 million, or a loss of $58.80 per share, in the year-earlier period.