Financial Data and Key Metrics Changes - The preliminary results indicate that all nominees for class three director have been duly elected for a three-year term, and the compensation of named executive officers has been approved on an advisory basis [7] - The appointment of Deloitte and Touche LLP as the independent registered public accounting firm for the fiscal year ending March 31, 2026, has been ratified [7] Business Line Data and Key Metrics Changes - No specific data or metrics regarding individual business lines were discussed during the meeting [9] Market Data and Key Metrics Changes - No specific market data or metrics were provided during the meeting [9] Company Strategy and Development Direction and Industry Competition - The company did not provide detailed insights into its strategic direction or competitive landscape during this meeting [9] Management's Comments on Operating Environment and Future Outlook - Management expressed gratitude for the support from stockholders and indicated that updates on continued progress would be provided in the upcoming FY26 Q2 earnings call scheduled for November [10] Other Important Information - The annual meeting was conducted without any additional business to address, and the final voting results will be included in a Form 8-K to be filed with the SEC [8] Q&A Session Summary Question: Were there any questions submitted during the meeting? - No questions were submitted during the meeting [9]

Core Message - Naturium launches its first brand campaign titled "Every One, Every Where, Every Day," aimed at promoting its mission of making skincare accessible to everyone [1][3]. Company Overview - Naturium was founded by Susan Yara in 2019 and focuses on delivering biocompatible, dermatologist-tested skincare products that blend natural botanicals with potent actives [6]. - The brand emphasizes clean, vegan, and cruelty-free products, certified by Leaping Bunny and PETA [6]. - Naturium was acquired by e.l.f. Beauty in 2023, expanding its reach and resources [6]. Campaign Details - The campaign is not a rebrand but a continuation of Naturium's mission, with founder Susan Yara actively involved in its creative direction [2][3]. - The campaign features seven influencers with a combined reach of over 8.7 million followers across social media platforms, promoting authentic engagement with the brand [4]. - The campaign will be promoted across various platforms including connected TV, YouTube, Instagram, Facebook, TikTok, Reddit, and Pinterest [5]. Unique Selling Proposition - Naturium's formulation philosophy is centered on creating clinically effective products that work with individual skin biology, setting it apart in the skincare market [3]. - The brand's commitment to consistency in skincare is highlighted as a key factor in building customer loyalty and community [2][3].

Core Viewpoint - E.L.F. Cosmetics faces backlash for featuring controversial comedian Matt Rife in its latest advertisement, which aims to promote beauty justice while defending against overpriced beauty products [1][4][7]. Group 1: Advertisement Details - The new ad, released on August 11, features drag queen Heidi N Closet as "e.l.f.ino" and comedian Matt Rife as "schmarnes" [1][2]. - The advertisement is part of a legal-themed campaign that builds on a previous Superbowl 2024 campaign [1][2]. Group 2: Company Statement - Kory Marchisotto, Chief Marketing Officer of e.l.f. Beauty, emphasized the brand's commitment to making beauty accessible and standing with the community for beauty justice [2][4]. - The company promotes "high quality beauty without compromise" in its messaging [4]. Group 3: Public Reaction - Many consumers expressed disappointment over Rife's inclusion due to his past controversial joke about domestic violence in his 2023 Netflix special [4][5]. - Social media users criticized the brand for not choosing a comedian who aligns better with positive values and for potentially disrespecting women [7][9][12]. - Some customers stated they would no longer support E.L.F. Cosmetics due to this decision, highlighting a disconnect between the brand and its audience [11][13].

Core Insights - The article emphasizes the importance of conducting personal in-depth research and due diligence before making investment decisions, highlighting the inherent risks involved in trading [3]. Group 1 - The analysis is intended solely for informational purposes and should not be interpreted as professional investment advice [3]. - There is a clear disclaimer regarding the lack of any stock, option, or similar derivative positions in the companies mentioned, indicating a neutral stance [2]. - The article expresses that past performance does not guarantee future results, underscoring the uncertainty in investment outcomes [4].

Core Insights - E.l.f. Beauty experienced a 30% decline in net income in its first fiscal quarter following the announcement of President Trump's tariffs, leading to an 11% drop in share price after the earnings report [1] - Despite the short-term challenges, the CEO emphasized the company's 26 consecutive quarters of net sales growth and ongoing international and retail expansions, including a $1 billion acquisition of Hailey Bieber's skincare brand, Rhode [2][5] - E.l.f. has gained popularity through social media marketing, particularly on platforms like TikTok and Roblox, and is recognized as the top color cosmetics brand in the U.S. by units sold [3][4] Financial Performance - The company celebrated its first billion-dollar fiscal quarter in May 2024, with a 77% sales spike, although net sales growth has slowed in subsequent quarters [5] - The acquisition of Rhode, which generated $212 million in net sales within three years, will enhance E.l.f.'s presence in Sephora stores in the U.S. this fall, financed by $600 million in debt [5] Market Position - E.l.f. is positioned as a challenger to established brands like Estée Lauder and L'Oréal, and is particularly favored by Gen Z, Gen Alpha, and millennial consumers [4] - Analysts express cautious optimism regarding the company's growth potential, suggesting it could become the number one mass cosmetics company globally over time [4]

Company Focus - The company is a cosmetics company with rights to the "road" cosmetic line from Hailey Bieber [1] - The "road" cosmetic line will be available in Sephora next month [1] - The company is heavily shorted, but Morgan Stanley recommends a "buy" [1] Market & Distribution - Anticipation for the "road" launch at Sephora is high, potentially leading to long lines [2] - Ulta may not significantly benefit from the Sephora launch [2] - Elf products are now available in Dollar General stores, expanding rural distribution [3]

Core Viewpoint - The article emphasizes the potential investment opportunity in e.l.f. Beauty (NYSE: ELF), highlighting its status as a premium fast-growing company and suggesting that current market conditions present an excellent buying opportunity [1]. Investment Strategy - The investment approach is value-oriented, focusing on acquiring growth stocks that are reasonably valued, aligning with the philosophy of buying wonderful companies at fair prices [1]. - The portfolio is concentrated in 12 to 15 stocks, allowing for in-depth knowledge and strategic trading based on market conditions [1]. Portfolio Performance - The portfolio has shown significant returns over the years, with a total return of 4,114% since inception in 2016, and an internal rate of return (IRR) of 51.54% per year [1]. - Yearly performance highlights include: - 2016: 1.28% return vs. NASDAQ 7.50% - 2017: 49.40% return vs. NASDAQ 28.23% - 2018: 84.91% return vs. NASDAQ -3.88% - 2019: -1.08% return vs. NASDAQ 35.23% - 2020: 173.62% return vs. NASDAQ 43.63% - 2021: 37.84% return vs. NASDAQ 21.40% - 2022: 20.93% return vs. NASDAQ -33.10% - 2023: 87.60% return vs. NASDAQ 43.42% - 2024: 77.98% return vs. NASDAQ 29.83% [1].

Group 1 - e.l.f. Beauty's Q1 FY 2026 quarterly results led to a sharp decline in stock price post-market, indicating market concerns over slowing core growth and margin pressures [1] - The company has withdrawn its full-year guidance, which has further contributed to investor anxiety regarding decreasing profits [1] Group 2 - Analysts are focusing on the implications of the company's performance on the broader beauty industry, particularly in terms of growth trends and competitive positioning [1]

Company Overview & Strategy - E l f Beauty initially sold affordable makeup products online and grew into a multi-million dollar company, partnering with retailers like Target [6] - The company's strategy is fueled by marketing and offering dupes of popular prestige products at bargain prices [8] - E l f adapts and creates new products based on customer feedback monitored on social media [12][13] - The company shifted production away from China to diversify its supply chain, moving from 100% to 75% sourced from China [15] Financial Performance & Market Position - E l f posted its first billion-dollar year in May 2024 after sales spiked 77% [3] - In fiscal year 2025, net sales grew by 28% to $13 billion, with international sales also growing by 28% [21] - E l f was the number one color cosmetics brand by units sold and number two by dollar share in 2024 [21] Acquisition & Expansion - E l f acquired Hailey Bieber's skincare brand Rhode in a $1 billion deal [2][23] - Rhode grew to $212 million in net sales in three years and more than doubled its customer base in fiscal year 2025 [24] - The Rhode deal was financed with $600 million of debt [26] Challenges & Risks - Heavy reliance on China caused profits to drop 30% in Q1 2026 [4] - Tariffs are expected to increase the cost of goods sold by at least $50 million annually, potentially causing net income and profits to each fall 30% [28]

Financial Performance & Challenges - ELF Beauty's stock experienced a nearly 10% decrease despite delivering a top and bottom-line beat [1][2] - Management declined to issue a full-year forecast due to tariff uncertainties, suggesting potential margin pressure [2] - The company has increased prices by approximately $1 due to tariffs and other cost pressures [5] Market Share & Growth Strategy - ELF Beauty achieved its 26th consecutive quarter of net sales and market share gains in the US cosmetics market [4] - The company is focused on growing market share and pursuing white space opportunities [5] - ELF Beauty is the number one brand amongst Gen Z and is gaining consumers across all age brackets [18] Expansion & Partnerships - Road is joining the ELF Beauty family and will be available in all US and Canadian Sephora stores in September, followed by the UK later this year [8] - ELF Beauty is expanding its partnership with Sephora by introducing ELF in six Gulf cooperation countries and launching a brand experience in Sephora Australia [9] - ELF Beauty is launching in Dollar General, serving an underserved market, with 60% of ELF purchasers being new to cosmetics purchases at Dollar General and 53% being new to ELF [12] Supply Chain & Cost Management - ELF Beauty has been optimizing its supply chain, reducing its production in China from 100% to approximately 75% [15] - The diversification of the supply chain is driven by strong global demand rather than solely by tariffs [15] Competitive Advantage - ELF Beauty aims to make the best of beauty accessible for every eye, lip, and face [17] - ELF Beauty offers superior value, with 75% of its portfolio priced at $10 or less even after the price increase [6][7] - ELF Beauty's vitamin E, C, and ferulic serum is priced at $16, significantly lower than a comparable prestige item at $185 [19]