Hailey Bieber’s Rhode is paying off big for e.l.f. Beauty, and I get why. I probably have about three or four of its lippies floating around my bag at any given time (Salted Caramel and Pretzel get the most love), and the eye patches have become the best part of my mornings. Clearly I’m not the only one hooked, and e.l.f.’s latest numbers prove it.
On November 4, e.l.f. Beauty released its fiscal second-quarter results, and they’re impressive. Net sales climbed 51 percent to $520.8 million for the three months ending in September, sailing past the roughly $470 million Wall Street analysts had predicted. It’s also the company’s 31st consecutive quarter of sales growth.
A big chunk of the excitement comes courtesy of Rhode, which Hailey Bieber founded and e.l.f. acquired in 2025 in a billion-dollar deal. The brand recently rolled out at Sephora across Europe, and chairman and CEO Tarang Amin told WWD it was among the biggest launches Sephora has ever had. e.l.f.’s international sales soared 165 percent for the quarter, helped by shipments stocking Sephora shelves. According to the company, about 75 percent of Rhode’s social media audience is based outside the United States, so shoppers were eagerly awaiting its arrival.
But this wasn’t a one-brand show. “The thing I’m most pleased about is we saw strength across our entire portfolio,” Amin told CNBC. “Every one of our brands contributed strong growth this quarter.” Along with Rhode, that lineup includes e.l.f. Cosmetics, e.l.f. SKIN and Naturium. The company also says e.l.f. is the most-searched brand on TikTok Shop and ranks second among cosmetics brands on the platform. It recently cut prices on about 10 percent of its lineup, which is good news if your holiday list is getting long.
Looking ahead, e.l.f. raised its full-year forecast and now expects net sales of $2 billion to $2.03 billion, or 22 to 24 percent growth (up from its previous estimate of 18 to 20 percent). Amin is also “very bullish” on the holiday season, CNBC reports. And if you’re wondering whether more brands could join the family, he left the door wide open. “We have a very strong balance sheet,” he told WWD. “If we saw another Rhode or Naturium, we would acquire it.”
