Roblox Shares Surge on Strong Bookings, User Growth
Roblox surpassed 100 million daily active users for the first time ever, the San Mateo, California-based company said in a statement Thursday. Its 111.8 million daily users beat analysts' estimates of 110.95 million. The company is rapidly increasing its users over 13, part of a strategy to reach an older demographic of players who are able to spend more money on the platform.
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Yahoo
18 minutes ago
- Yahoo
e.l.f. Beauty Announces First Quarter Fiscal 2026 Results
Delivered 26th Consecutive Quarter of Net Sales Growth and Market Share Gains OAKLAND, Calif., August 06, 2025--(BUSINESS WIRE)--e.l.f. Beauty (NYSE: ELF) today announced results for the three months ended June 30, 2025. "Our strong Q1 results, including 210 basis points of market share gains, are a continuation of the consistent, category-leading growth we've delivered over the past 26 quarters," said Tarang Amin, e.l.f. Beauty's Chairman and Chief Executive Officer. "The combination of our value proposition, powerhouse innovation and disruptive marketing engine continue to fuel our results. We remain excited by the significant whitespace we see ahead as we strive to make the best of beauty accessible for all." Three Months Ended June 30, 2025 Results For the three months ended June 30, 2025, compared to the three months ended June 30, 2024: Net sales increased 9% to $353.7 million, primarily driven by strength in both our retailer and e-commerce channels, in the US and internationally. Gross margin decreased approximately 215 basis points to 69%, primarily driven by tariffs, partially offset by favorable foreign exchange impacts and mix. Selling, general and administrative ("SG&A") expenses increased 15.3 million to 195.8 million, or 55% of net sales. Adjusted SG&A (SG&A excluding the items identified in the reconciliation table below) increased 12.9 million to $177.3 million, or 50% of net sales. The increase in SG&A is primarily related to an increase in professional fees, retail fixturing and visual merchandising costs, marketing and digital spend, along with increased depreciation and amortization, offset by lower compensation and benefits expense, and operations costs. Other income, net increased $4.9 million to $5.0 million, primarily driven by an increase in foreign currency gains in the period attributable to currency rate fluctuation. Net income was $33.3 million on a GAAP basis. Adjusted net income (net income excluding the items identified in the reconciliation table below) was $51.3 million. Diluted earnings per share were $0.58 on a GAAP basis. Adjusted diluted earnings per share (diluted earnings per share calculated with adjusted net income excluding the items identified in the reconciliation table below) were $0.89. Adjusted EBITDA (EBITDA excluding the items identified in the reconciliation table below) was $87.1 million, or 25% of net sales, up 12% year over year. Liquidity As of June 30, 2025, the Company had $170.0 million in cash and cash equivalents and $256.7 million of long-term debt, as compared to $109.0 million in cash and cash equivalents and $262.2 million of total debt outstanding as of June 30, 2024. Fiscal 2026 Outlook Due to the wide range of potential outcomes related to tariffs, the Company is not providing a full year Fiscal 2026 financial outlook at this time. For the first half of Fiscal 2026, the Company expects the following: Net sales growth above the 9% net sales growth reported in Q1 Adjusted EBITDA margins of approximately 20% as compared to approximately 23% in the first half of Fiscal 2025, primarily due to higher tariff costs Acquisition of rhode Subsequent to quarter end, on August 5, 2025, the Company consummated the acquisition of HRBeauty LLC ("rhode"), a fast-growing, multi-category lifestyle beauty brand founded by Hailey Bieber for $800.0 million at closing, subject to customary adjustments, inclusive of $600.0 million in cash, funded via Term Loan, and $200.0 million of stock, with potential earnout consideration of up to $200.0 million based on the future growth of the brand over a three-year timeframe. Fifth Amendment to Amended Credit Agreement On August 5, 2025, the Company entered into the Fifth Amendment to the Amended and Restated Credit Agreement (the "Fifth Amendment"). The Fifth Amendment, among other things, established a term loan facility in an aggregate principal amount of $600.0 million (the "Term Facility"), made customary changes in connection with adding a term loan facility, increased the maximum permitted consolidated total net leverage ratio financial covenant and increased the interest rate margin for loans under the Company's existing revolving line of credit. The proceeds of the Term Facility were made available to e.l.f. Cosmetics and certain other subsidiaries of the Company to pay a portion of the consideration for the acquisition of rhode. Webcast Details The Company will hold a webcast to discuss the results from its first quarter fiscal 2026 today, August 6, 2025, at 4:30 p.m. Eastern Time. The webcast will be broadcast live at For those unable to listen to the live broadcast, an archived version will be available at the same location. About e.l.f. Beauty e.l.f. Beauty (NYSE: ELF) is fueled by a belief that anything is possible. e.l.f. is a different kind of company that disrupts norms, shapes culture and connects communities, through positivity, inclusivity and accessibility. The mission is clear: to make the best of beauty accessible to every eye, lip and face. e.l.f. Beauty and its brands, e.l.f. Cosmetics, e.l.f. SKIN, Keys Soulcare, Well People, Naturium and rhode, are led by purpose, driven by results and elevated by superpowers. e.l.f. Beauty offers e.l.f. clean and vegan products, all double-certified by PETA and Leaping Bunny as cruelty free, and proudly stands as the first beauty company with Fair Trade Certified™ facilities. With a kind heart at the center of e.l.f.'s ethos, the company donates 2% of net profits to organizations that make positive impacts. Learn more at Note Regarding non-GAAP Financial Measures This press release includes references to non-GAAP measures, including adjusted EBITDA, adjusted SG&A, adjusted net income and adjusted diluted earnings per share. The Company presents these non-GAAP measures because its management uses them as supplemental measures in assessing its operating performance, and believes they are helpful to investors, securities analysts and other interested parties in evaluating the Company's performance. The non-GAAP measures included in this press release are not measurements of financial performance under GAAP and they should not be considered as alternatives to or substitutes for measures of performance derived in accordance with GAAP. In addition, these non-GAAP measures should not be construed as an inference that the Company's future results will be unaffected by unusual or non-recurring items. These non-GAAP measures have limitations as analytical tools, and you should not consider such measures either in isolation or as substitutes for analyzing the Company's results as reported under GAAP. The Company's definitions and calculations of these non-GAAP measures are not necessarily comparable to other similarly titled measures used by other companies due to different methods of calculation. Adjusted EBITDA excludes expense or income related to stock-based compensation, and other non-cash and non-recurring items. Such other non-cash or non-recurring items include amortization of internal-use software costs related to cloud applications, acquisition related costs, and cloud computing ERP implementation costs. Adjusted SG&A excludes expense related to stock-based compensation and other non-recurring items. Such other non-recurring items include other non-recurring cloud computing ERP implementation costs and acquisition related costs. Adjusted effective tax rate is the tax rate when excluding the pre-tax impact of expense or income related to stock-based compensation, other non-cash and non-recurring items, amortization of acquired intangible assets, as well as the related tax impact for these items, calculated utilizing the statutory rate for where the impact was incurred. Adjusted net income excludes expense related to stock-based compensation, other non-recurring items, amortization of acquired intangible assets and the tax impact of the foregoing adjustments. Such other non-recurring items include other non-recurring cloud computing ERP implementation costs and acquisition related costs. Forward-looking Statements This press release contains forward-looking statements within the meaning of the federal securities laws, including those statements relating to the Company's outlook for the first half of Fiscal 2026 under "Fiscal 2026 Outlook" above and those statements that we remain excited by the significant whitespace we see ahead as we strive to make the best of beauty accessible for all. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, actual results and the timing of selected events may differ materially from those expectations. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the risks and uncertainties that are described in the Company's most recent Annual Report on Form 10-K, as updated from time to time in the Company's SEC filings, as well as the Company's ability to effectively compete with other beauty companies; the Company's ability to successfully introduce new products; the Company's ability to attract new retail customers and/or expand business with its existing retail customers; the Company's ability to optimize shelf space at its key retail customers; the loss of any of the Company's key retail customers or if the general business performance of its key retail customers declines; and the Company's ability to effectively manage its SG&A and other expenses. Potential investors are urged to consider these factors carefully in evaluating the forward-looking statements. These forward-looking statements speak only as of the date hereof. Except as required by law, the Company assumes no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future. e.l.f. Beauty, Inc. and subsidiaries Condensed consolidated statements of operations (unaudited) (in thousands, except share and per share data) Three months ended June 30, 2025 2024 Net sales $ 353,739 $ 324,477 Cost of sales 109,198 93,194 Gross profit 244,541 231,283 Selling, general and administrative expenses 195,832 180,575 Operating income 48,709 50,708 Other income, net 5,037 187 Interest expense, net (2,632 ) (3,665 ) Income before provision for income taxes 51,114 47,230 Income tax (provision) benefit (17,803 ) 325 Net income $ 33,311 $ 47,555 Net income per share: Basic $ 0.59 $ 0.85 Diluted $ 0.58 $ 0.81 Weighted average shares outstanding: Basic 56,328,483 55,973,914 Diluted 57,675,035 58,551,423 e.l.f. Beauty, Inc. and subsidiaries Condensed consolidated balance sheets (unaudited) (in thousands, except share and per share data) June 30, 2025 March 31, 2025 June 30, 2024 Assets Current assets: Cash and cash equivalents $ 170,029 $ 148,692 $ 109,034 Accounts receivable, net 173,352 126,010 155,701 Inventory, net 170,379 187,170 199,563 Prepaid expenses and other current assets 88,766 78,688 66,162 Total current assets 602,526 540,560 530,460 Property and equipment, net 39,182 28,787 14,040 Intangible assets, net 203,348 207,698 220,745 Goodwill 340,582 340,582 340,600 Other assets 129,258 130,548 98,987 Total assets $ 1,314,896 $ 1,248,175 $ 1,204,832 Liabilities and stockholders' equity Current liabilities: Current portion of long-term debt $ — $ — $ 102,938 Accounts payable 74,603 72,180 79,989 Accrued expenses and other current liabilities 110,136 104,876 116,878 Total current liabilities 184,739 177,056 299,805 Long-term debt 256,676 256,676 159,234 Deferred tax liabilities 17,009 3,812 7,910 Long-term operating lease obligations 50,351 48,721 33,637 Other long-term liabilities 1,269 1,055 656 Total liabilities 510,044 487,320 501,242 Stockholders' equity: Common stock, par value of $0.01 per share; 250,000,000 shares authorized as of June 30, 2025, March 31, 2025 and June 30, 2024; 56,734,903, 55,730,037 and 56,387,461 shares issued and outstanding as of June 30, 2025, March 31, 2025 and June 30, 2024, respectively 566 556 563 Additional paid-in capital 952,015 942,025 949,817 Accumulated other comprehensive income (loss) 1,207 521 (9 ) Accumulated deficit (148,936 ) (182,247 ) (246,781 ) Total stockholders' equity 804,852 760,855 703,590 Total liabilities and stockholders' equity $ 1,314,896 $ 1,248,175 $ 1,204,832 e.l.f. Beauty, Inc. and subsidiaries Condensed consolidated statements of cash flows (unaudited) (in thousands) Three months ended June 30, 2025 2024 Cash flows from operating activities: Net income $ 33,311 $ 47,555 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 13,192 9,058 Non-cash lease expense 2,843 2,076 Stock-based compensation expense 9,868 12,964 Amortization of debt issuance costs and discount on debt 134 138 Deferred income taxes 14,216 5,108 Other, net 911 (127 ) Changes in operating assets and liabilities: Accounts receivable (46,170 ) (31,815 ) Inventory 18,684 (8,074 ) Prepaid expenses and other assets (16,332 ) (30,500 ) Accounts payable and accrued expenses (1,542 ) (3,107 ) Other liabilities (1,882 ) (1,995 ) Net cash provided by operating activities 27,233 1,281 Cash flows from investing activities: Purchase of property and equipment (7,095 ) (786 ) Other, net (464 ) (93 ) Net cash used in investing activities (7,559 ) (879 ) Cash flows from financing activities: Cash received from issuance of common stock 121 464 Other, net — (56 ) Net cash provided by financing activities 121 408 Effect of exchange rate changes on cash and cash equivalents 1,542 41 Net increase in cash and cash equivalents 21,337 851 Cash and cash equivalents - beginning of period 148,692 108,183 Cash and cash equivalents - end of period $ 170,029 $ 109,034 e.l.f. Beauty, Inc. and subsidiaries Reconciliation of GAAP net income to non-GAAP adjusted EBITDA (unaudited) (in thousands) Three months ended June 30, 2025 2024 Net income $ 33,311 $ 47,555 Interest expense, net 2,632 3,665 Income tax provision (benefit) 17,803 (325 ) Depreciation and amortization 13,192 9,058 EBITDA $ 66,938 $ 59,953 Stock-based compensation 9,868 12,964 Other non-cash and non-recurring items (a) 10,257 4,517 Adjusted EBITDA $ 87,063 $ 77,434 (a) Represents other non-cash or non-recurring items, which include amortization of internal-use software costs related to cloud applications, acquisition related costs, and cloud computing ERP implementation costs. e.l.f. Beauty, Inc. and subsidiaries Reconciliation of GAAP SG&A to non-GAAP adjusted SG&A (unaudited) (in thousands) Three months ended June 30, 2025 2024 Selling, general and administrative expenses $ 195,832 $ 180,575 Stock-based compensation (9,879 ) (12,958 ) Other non-recurring items (a) (8,643 ) (3,204 ) Adjusted selling, general and administrative expenses $ 177,310 $ 164,413 (a) Represents other non-recurring cloud computing ERP implementation costs and acquisition related costs. e.l.f. Beauty, Inc. and subsidiaries Reconciliation of GAAP net income to non-GAAP adjusted net income (unaudited) (in thousands, except share and per share data) Three months ended June 30, 2025 2024 Net income $ 33,311 $ 47,555 Stock-based compensation 9,868 12,964 Other non-recurring items (a) 8,643 3,204 Amortization of acquired intangible assets (b) 4,349 4,349 Tax Impact (c) (4,846 ) (3,754 ) Adjusted net income $ 51,325 $ 64,318 Weighted average number of shares outstanding – diluted 57,675,035 58,551,423 Adjusted diluted earnings per share $ 0.89 $ 1.10 (a) Represents other non-recurring cloud computing ERP implementation costs and acquisition related costs. (b) Represents amortization expense of acquired intangible assets consisting of customer relationships and trademarks. (c) Represents the tax impact of the above adjustments. View source version on Contacts Investors:KC KattenVP, Corporate Development & Investor Relationskkatten@ Media:Sam CritchellVP, Corporate Communicationsscritchell@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Chicago Tribune
20 minutes ago
- Chicago Tribune
Hoffman Estates-based Claire's, known for piercing millions of teens' ears, files for Chapter 11, 2nd time since 2018
NEW YORK — Mall-based teen accessories retailer Claire's, known for helping to usher in millions of teens into an important rite of passage — ear piercing — but now struggling with a big debt load and changing consumer tastes, has filed for Chapter 11 bankruptcy protection. Claire's Holdings LLC and certain of its U.S. and Gibraltar-based subsidiaries — collectively Claire's U.S., the operator of Claire's and Icing stores across the United States, made the filing in the U.S. Bankruptcy Court in Delaware on Wednesday. That marked the second time since 2018 and for a similar reason: high debt load and the shift among teens heading online away from physical stores. Claire's Chapter 11 filing follows the bankruptcies of other teen retailers including Forever 21, which filed in March for bankruptcy protection for a second time and eventually closed down its U.S. business as traffic in U.S. shopping malls fades and competition from online retailers like Amazon, Temu and Shein intensifies. Claire's, based in Hoffman Estates, Illinois and founded in 1974, said that its stores in North America will remain open and will continue to serve customers, while it explores all strategic alternatives. Claire's operates more than 2,750 Claire's stores in 17 countries throughout North America and Europe and 190 Icing stores in North America. In a court filing, Claire's said its assets and liabilities range between $1 billion and $10 billion. Forever No More. Operator of mall staple Forever 21 files for bankruptcy protection'This decision is difficult, but a necessary one,' Chris Cramer, CEO of Claire's, said in a press release issued Wednesday. 'Increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire's and its stakeholders.' Like many retailers, Claire's was also struggling with higher costs tied to President Donald Trump's tariff plans, analysts said. Cramer said that the company remains in 'active discussions' with potential strategic and financial partners. He noted that the company remains committed to serving its customers and partnering with its suppliers and landlords in other regions. Claire's also intends to continue paying employees' wages and benefits, and it will seek approval to use cash collateral to support its operations. Neil Saunders, managing director of GlobalData, a research firm, noted in a note published Wednesday Claire's bankruptcy filing comes as 'no real surprise.' 'The chain has been swamped by a cocktail of problems, both internal and external, that made it impossible to stay afloat,' he wrote. Saunders noted that internally, Claire's struggled with high debt levels that made its operations unstable and said the cash crunch left it with little choice but to reorganize through bankruptcy. He also noted that tariffs have pushed costs higher, and he believed that Claire's is not in a position to manage this latest challenge effectively. Competition has also become sharper and more intense over recent years, with retailers like jewelry chain Lovisa offering younger shoppers a more sophisticated assortment at low prices. He also cited the growing competition with online players like Amazon. 'Reinventing will be a tall order in the present environment,' he added.
Business Wire
20 minutes ago
- Business Wire
AM Best Revises Outlooks to Negative for Heartland National Life Insurance Company
BUSINESS WIRE)-- AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of 'bbb' (Good) of Heartland National Life Insurance Company (HNL) (Indianapolis, IN). The Credit Ratings (ratings) reflect HNL's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and marginal enterprise risk management (ERM). The revised outlooks reflect downward pressure on the company's overall balance sheet strength assessment due to significant annuity growth that has outpaced excess risk-adjusted capitalization, which has been supported by high third-party reinsurance dependence. AM Best notes that HNL has signed an indicative term sheet with a third-party investment group, which may acquire a minority stake in HNL, by making equity contributions that would significantly enhance its absolute and risk-adjusted capital levels. The overall amount of capital contributions also depends on HNL selling or reinsuring part of its supplemental accident and health (A&H) insurance block to another strategic partner, which would unlock additional capital, enhance near-term earnings under management's projections through a favorable ceding commission(s) and diversify HNL's reinsurance counterparties. A negative rating action could occur if HNL fails to improve its risk-adjusted capitalization by executing further on its aforementioned capital raise plans that include either equity or debt investment or additional reinsurance. Following a year of extensive individual deferred fixed annuity sales targeted to the savings and retirement needs of policyowners, HNL's business profile now has more long-duration asset-liability matching and interest rate risk, in addition to biometric risk from a core portfolio of profitable supplemental A&H business. The latter product line is considered lower risk for insurers on AM Best's product continuum primarily attributed to providing cash benefits, rather than full medical cost reimbursement, to address policyowners' health insurance coverage gaps. HNL has traditionally used extensive reinsurance to share risk and manage capital strain as it executes its growth initiatives under its strategic plan and evolving ERM framework; and in October 2023, the company implemented a 95% quota share flow reinsurance agreement for the annuity sales with Puerto Rico-based Converge Re II. In December 2024, a $7 million surplus note was also issued by HNL, and HNL has access to another $8 million of backup liquidity it can draw from the same credit facility if needed. Altogether these initiatives have helped HNL manage the capital strain associated with its rapid growth; however, this is partially offset by high reinsurance leverage associated with the annuity business that has increased reinsurance counterparty risk capital charges and operational risk. In addition, HNL has reported statutory net losses in 2025, owing to continued high general expenses and direct commissions associated with its high volume of sales and new product launches, which included short-term home health care and cancer heart attack and stroke insurance in 2023 and 2024 respectively, and the upcoming launch of a new fixed index annuity product in some of the company's 36 approved states. HNL's relatively small amount of capital and surplus, as compared with its gross liabilities and its various competitors that also focus on the annuity market for the senior demographic, places pressure on the company's reliance on its sole annuity reinsurer, Converge Re II. Additionally, AM Best notes the elevated financial leverage and modest coverage ratios, as well as the execution risk related to HNL enhancing its capital position given the company's concentrated capital structure. AM Best will continue to monitor the company's capitalization and operating performance over the next few quarters against its planned capital management initiatives and current business plan, along with the mix of business between annuity and A&H insurance. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
