Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

e.l.f. Beauty, Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in thousands

	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Current portion of long-term debt and finance lease obligations	102,938)	100,307)	100,394)	5,228)	5,431)	5,575)	5,690)	5,801)	5,793)	5,786)	5,780)	19,254)	32,247)	16,281)	15,250)	14,219)	13,187)	12,568)	11,939)	11,310)	10,681)
Accounts payable	79,989)	81,075)	72,917)	63,736)	53,237)	31,427)	32,049)	19,279)	16,023)	19,227)	22,756)	19,299)	17,113)	15,699)	20,108)	20,544)	21,484)	12,390)	19,589)	14,807)	16,982)
Accrued expenses and other current liabilities	116,878)	117,733)	129,628)	83,407)	51,037)	70,974)	49,798)	46,868)	39,916)	40,004)	33,977)	32,665)	33,617)	41,351)	31,322)	26,264)	22,560)	26,165)	29,767)	20,424)	18,313)
Current liabilities	299,805)	299,115)	302,939)	152,371)	109,705)	107,976)	87,537)	71,948)	61,732)	65,017)	62,513)	71,218)	82,977)	73,331)	66,680)	61,027)	57,231)	51,123)	61,295)	46,541)	45,976)
Long-term debt and finance lease obligations	159,234)	161,819)	164,403)	57,735)	59,612)	60,881)	62,177)	88,284)	89,684)	91,080)	92,474)	93,865)	95,254)	110,255)	114,421)	118,577)	122,701)	126,088)	129,236)	132,377)	135,511)
Deferred tax liabilities	7,910)	3,666)	4,281)	4,901)	5,855)	3,742)	7,783)	10,635)	13,538)	9,593)	13,078)	15,114)	17,750)	13,479)	16,247)	19,466)	21,478)	21,892)	17,633)	20,096)	17,839)
Long-term operating lease obligations	33,637)	21,459)	21,720)	14,559)	10,137)	11,201)	12,329)	13,440)	14,637)	15,744)	16,659)	17,919)	19,053)	20,084)	18,370)	19,185)	11,400)	11,239)	5,084)	5,846)	13,945)
Other long-term liabilities	656)	616)	717)	942)	870)	784)	795)	874)	817)	769)	758)	803)	736)	598)	585)	516)	550)	591)	556)	479)	702)
Long-term liabilities	201,437)	187,560)	191,121)	78,137)	76,474)	76,608)	83,084)	113,233)	118,676)	117,186)	122,969)	127,701)	132,793)	144,416)	149,623)	157,744)	156,129)	159,810)	152,509)	158,798)	167,997)
Total liabilities	501,242)	486,675)	494,060)	230,508)	186,179)	184,584)	170,621)	185,181)	180,408)	182,203)	185,482)	198,919)	215,770)	217,747)	216,303)	218,771)	213,360)	210,933)	213,804)	205,339)	213,973)
Common stock, par value of $0.01 per share	563)	555)	553)	545)	543)	535)	528)	525)	517)	515)	512)	511)	508)	504)	497)	494)	491)	489)	486)	485)	484)
Additional paid-in capital	949,817)	936,403)	922,592)	851,634)	840,181)	832,481)	823,021)	813,785)	801,992)	795,443)	790,041)	784,881)	779,137)	774,441)	769,380)	763,731)	758,236)	753,213)	753,151)	750,395)	747,233)
Accumulated other comprehensive loss	(9)	(50)	(58)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Accumulated deficit	(246,781)	(294,336)	(308,863)	(335,751)	(369,022)	(421,999)	(438,245)	(457,350)	(469,060)	(483,529)	(485,085)	(491,299)	(497,023)	(505,299)	(505,275)	(509,572)	(510,019)	(511,531)	(511,190)	(519,192)	(525,709)
Stockholders’ equity	703,590)	642,572)	614,224)	516,428)	471,702)	411,017)	385,304)	356,960)	333,449)	312,429)	305,468)	294,093)	282,622)	269,646)	264,602)	254,653)	248,708)	242,171)	242,447)	231,688)	222,008)
Total liabilities and stockholders’ equity	1,204,832)	1,129,247)	1,108,284)	746,936)	657,881)	595,601)	555,925)	542,141)	513,857)	494,632)	490,950)	493,012)	498,392)	487,393)	480,905)	473,424)	462,068)	453,104)	456,251)	437,027)	435,981)

The analysis of the quarterly financial data reveals several notable trends in the liabilities and equity structure over the observed periods.

Current Portion of Long-Term Debt and Finance Lease Obligations: This liability generally increased gradually from June 2019 through March 2021, with a notable spike at June 30, 2021, reaching over 32 million USD. Following this peak, values fluctuated downward and remained relatively stable around 5,500 to 5,800 thousand USD through March 2023. However, beginning March 31, 2024, a significant increase to over 100 million USD occurred, indicating a major restructuring or reclassification of debt obligations in the current portion.
Accounts Payable: This liability showed variability with an initial increase from June 2019 to December 2019, followed by fluctuations between 12 and 22 million USD until mid-2022. Starting from December 2022, accounts payable surged considerably, peaking at over 81 million USD in March 2024 before a slight decline to nearly 80 million USD by June 2024. This pattern suggests rising short-term obligations possibly linked to increased operational activities or extended payment terms.
Accrued Expenses and Other Current Liabilities: The balance of accrued expenses and other current liabilities demonstrated an upward trajectory over the periods, albeit with some volatility. The value increased notably from approximately 18 million USD in June 2019 to a peak above 129 million USD in December 2023. This rise reflects increased operational accruals, which may point to growing liabilities or business expansion.
Total Current Liabilities: Current liabilities overall followed a fluctuating but generally increasing trend. The value jumped from about 46 million USD in mid-2019 to a peak surpassing 302 million USD as of March 2024. The marked escalation towards the later periods aligns with spikes in accounts payable and accrued expenses, indicating higher short-term financial commitments.
Long-Term Debt and Finance Lease Obligations: Long-term debt consistently decreased from approximately 135 million USD in June 2019 to about 57 million USD in March 2023, suggesting debt repayments or refinancing activity. Nonetheless, from March 2024 onwards, a sharp increase above 159 million USD was observed, implying new debt issuance or reclassification of liabilities into long-term obligations.
Deferred Tax Liabilities: Deferred tax liabilities displayed a declining trend, falling from around 18 million USD in 2019 to under 8 million USD by June 2023. Minor fluctuations occurred, but the overall movement suggests reduced deferred tax obligations possibly due to changes in taxable temporary differences or tax strategies.
Long-Term Operating Lease Obligations: These obligations showed inconsistency initially, with a decrease in 2019, followed by growth reaching more than 21 million USD by December 2023 and March 2024. The increase reflects expanding lease commitments or new leases commenced during this interval.
Other Long-Term Liabilities: Other long-term liabilities remained relatively stable and low compared to other obligations, fluctuating between approximately 480 thousand USD and 942 thousand USD, with no clear trend.
Total Long-Term Liabilities: Overall, long-term liabilities reduced gradually from 168 million USD in June 2019 to approximately 76 million USD by March 2023, followed by a sharp elevation beyond 191 million USD in December 2023 and increasing further to over 201 million USD by March 2024. This substantial rise is consistent with the observed increase in long-term debt and lease obligations, indicating significant new or reclassified long-term funding sources.
Total Liabilities: Total liabilities exhibited a relatively stable trend around 210 million USD from 2019 through the early part of 2023. However, there was a dramatic jump to nearly 494 million USD in December 2023, which was sustained through the first half of 2024. This surge signals considerable increases in both current and long-term liabilities, potentially reflecting strategic financing activities or operational scale changes.
Common Stock and Additional Paid-in Capital: Common stock showed minimal increments over the periods, reflecting routine issuances or adjustments. Additional paid-in capital consistently increased from approximately 747 million USD in June 2019 to nearly 950 million USD by June 2024, indicating ongoing equity financing and investor contributions supporting company growth.
Accumulated Other Comprehensive Loss: This item appeared only in the final quarters with small negative amounts, suggesting minor unrealized losses or adjustments in comprehensive income elements.
Accumulated Deficit: The accumulated deficit consistently decreased in magnitude from approximately -526 million USD in mid-2019 to around -247 million USD by June 2024. This reduction indicates improving retained earnings or net income trends over time, contributing positively to the company’s equity position.
Stockholders’ Equity: Stockholders' equity demonstrated steady growth from 222 million USD in June 2019 to over 703 million USD by March 2024. This considerable increase reflects enhancements in paid-in capital and reduction in accumulated deficit, signifying strengthening financial health and shareholder value.
Total Liabilities and Stockholders’ Equity: The total financing structure expanded from roughly 436 million USD in mid-2019 to above 1.2 billion USD by early 2024. This growth underlines substantial increases in assets and liabilities supported by equity infusion, aligned with organizational expansion or increased scale of operations.

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e.l.f. Beauty, Inc. (NYSE:ELF)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data