E.l.f. Beauty posted sales of over $1 billion for its fiscal year 2024, up 77% from the previous year and marking its first billion-dollar year. The cosmetic company beat analyst estimates with revenue up 71% year-over-year, but shares fell as its guidance for 2025 came in below Wall Street expectations. Ulta Beauty's CEO recently warned the broader beauty industry was seeing demand slow earlier and more than expected. E.l.f. Beauty CEO said the company is still in the "early innings" of growth.