Yup. It seems ELF used cash and a credit facility for part of the Naturium acquisition. That affected cash flows as well. Profit margins should be down again next quarter but will remain positive and are already accounted for in the guides.
The highlight, of course, is growth once again accelerated along with another huge raise to the FY guide. And while gross margins stayed basically flat, it is fair to point out they did squeak up to a record 70.8%.
Agree. In my opinion, way more good than things to be worried about in this report. Congrats to all holders.