e.l.f. Beauty (ELF) 10-Q 6 Aug 20 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Jun. 30, 2020	Jul. 31, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-37873
Entity Registrant Name	e.l.f. Beauty, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-4464131
Entity Address, Address Line One	570 10th Street
Entity Address, City or Town	Oakland,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94607
City Area Code	(510)
Local Phone Number	778-7787
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ELF
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		50,721,893
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001600033
Current Fiscal Year End Date	--03-31

Condensed consolidated balance

Condensed consolidated balance sheets (unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019
Current assets:
Cash and cash equivalents	$ 54,224	$ 46,167	$ 60,746
Accounts receivable, net	29,825	29,721	22,623
Inventory, net	52,752	46,209	51,020
Prepaid expenses and other current assets	8,714	10,263	6,795
Total current assets	145,515	132,360	141,184
Property and equipment, net	16,146	17,171	16,493
Intangible assets, net	100,379	102,410	95,333
Goodwill	171,321	171,321	157,264
Investments	2,875	2,875	2,875
Other assets	25,832	26,967	22,832
Total assets	462,068	453,104	435,981
Current liabilities:
Current portion of long-term debt and finance lease obligations	13,187	12,568	10,681
Accounts payable	21,484	12,390	16,982
Accrued expenses and other current liabilities	22,560	26,165	18,313
Total current liabilities	57,231	51,123	45,976
Long-term debt and finance lease obligations	122,701	126,088	135,511
Deferred tax liabilities	21,478	21,892	17,839
Long-term operating lease obligations	11,400	11,239	13,945
Other long-term liabilities	550	591	702
Total liabilities	213,360	210,933	213,973
Commitments and contingencies (Note 8)
Stockholders' equity:
Common stock, par value of $0.01 per share; 250,000,000 shares authorized as of June 30, 2020, March 31, 2020 and June 30, 2019; 50,708,699, 50,003,531 and 49,865,995 shares issued and outstanding as of June 30, 2020, March 31, 2020 and June 30, 2019, respectively	491	489	484
Additional paid-in capital	758,236	753,213	747,233
Accumulated deficit	(510,019)	(511,531)	(525,709)
Total stockholders' equity	248,708	242,171	222,008
Total liabilities and stockholders' equity	$ 462,068	$ 453,104	$ 435,981

Condensed consolidated balanc_2

Condensed consolidated balance sheets (unaudited) (Parenthetical) - $ / shares	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in USD per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000	250,000,000
Common stock, shares issued (in shares)	50,708,699	50,003,531	49,865,995
Common stock, shares outstanding (in shares)	50,708,699	50,003,531	49,865,995

Condensed consolidated statemen

Condensed consolidated statements of operations and comprehensive income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Net sales	$ 64,527	$ 59,764
Cost of sales	21,186	22,573
Gross profit	43,341	37,191
Selling, general and administrative expenses	40,332	32,055
Restructuring income	0	(1,792)
Operating income	3,009	6,928
Other (expense) income, net	(30)	351
Interest expense, net	(1,468)	(1,717)
Income before provision for income taxes	1,511	5,562
Income tax (provision) benefit	1	(1,856)
Net income	1,512	3,706
Comprehensive income	$ 1,512	$ 3,706
Net income per share:
Basic (in USD per share)	$ 0.03	$ 0.08
Diluted (in USD per share)	$ 0.03	$ 0.07
Weighted average shares outstanding:
Basic (in shares)	48,924,454	48,345,942
Diluted (in shares)	50,939,938	50,317,088

Condensed consolidated statem_2

Condensed consolidated statements of stockholders' equity (unaudited) - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Accumulated deficit
Beginning balance at Mar. 31, 2019	$ 215,215	$ 483	$ 744,147	$ (529,415)
Beginning balance (in shares) at Mar. 31, 2019		48,288,720
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,706			3,706
Stock-based compensation	3,926		3,926
Exercise of stock options and vesting of restricted stock	240	$ 2	238
Exercise of stock options, net (in shares)		179,225
Repurchase of common stock	(1,079)	$ (1)	(1,078)
Repurchase of common stock (in shares)		(89,610)
Ending balance at Jun. 30, 2019	222,008	$ 484	747,233	(525,709)
Ending balance (in shares) at Jun. 30, 2019		48,378,335
Beginning balance at Mar. 31, 2020	242,171	$ 489	753,213	(511,531)
Beginning balance (in shares) at Mar. 31, 2020		48,874,742
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,512			1,512
Stock-based compensation	4,627		4,627
Exercise of stock options and vesting of restricted stock	398	$ 2	396
Exercise of stock options, net (in shares)		175,561
Ending balance at Jun. 30, 2020	$ 248,708	$ 491	$ 758,236	$ (510,019)
Ending balance (in shares) at Jun. 30, 2020		49,050,303

Condensed consolidated statem_3

Condensed consolidated statements of cash flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income	$ 1,512	$ 3,706
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,429	5,192
Restructuring income	0	(1,792)
Stock-based compensation expense	4,627	3,926
Amortization of debt issuance costs and discount on debt	214	190
Deferred income taxes	(414)	1,086
Other, net	72	16
Changes in operating assets and liabilities:
Accounts receivable	(174)	9,641
Inventories	(6,543)	(7,241)
Prepaid expenses and other assets	1,065	725
Accounts payable and accrued expenses	5,891	2,190
Other liabilities	(856)	(4,774)
Net cash provided by operating activities	11,823	12,865
Cash flows from investing activities:
Purchase of property and equipment	(1,155)	(2,904)
Net cash used in investing activities	(1,155)	(2,904)
Cash flows from financing activities:
Proceeds from revolving line of credit	20,000	0
Repayment of revolving line of credit	(20,000)	0
Repayment of long-term debt	(2,475)	(2,063)
Debt issuance costs paid	(334)	0
Repurchase of common stock	0	(1,079)
Cash received from issuance of common stock	398	240
Other, net	(200)	(187)
Net cash used in financing activities	(2,611)	(3,089)
Net increase in cash and cash equivalents	8,057	6,872
Cash and cash equivalents - beginning of period	46,167	53,874
Cash and cash equivalents - end of period	$ 54,224	$ 60,746

Nature of operations

Nature of operations	3 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of operations	Nature of operations e.l.f. Beauty, Inc. (“e.l.f. Beauty” and together with its subsidiaries, the “Company” or “we”) was formed as a Delaware corporation on December 20, 2013. e.l.f. Beauty is organized as a holding company and operates through its subsidiaries, e.l.f. Cosmetics, Inc., which conducts business under the name “e.l.f. Cosmetics” or “e.l.f.” and W3LL People, Inc., which conducts business under the name “W3LL PEOPLE”. e.l.f. Cosmetics makes the best of beauty accessible to every eye, lip and face by offering high-quality cosmetics and skin care products at an extraordinary value, all formulated 100% vegan and cruelty-free. W3LL PEOPLE is a pioneer in clean beauty that offers accessible clean beauty products that work.

Summary of significant accounti

Summary of significant accounting policies	3 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies Basis of presentation This report reflects the Company's first quarter of the fiscal year ending March 31, 2021 , covering the period from April 1, 2020 to June 30, 2020 . The accompanying unaudited condensed consolidated financial statements and related notes have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of the Company, these interim financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of June 30, 2020 , March 31, 2020 and June 30, 2019 , and its results of operations, stockholders' equity and cash flows for the three months ended June 30, 2020 and June 30, 2019 . All intercompany balances and transactions have been eliminated in consolidation. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2020 (the “Annual Report”). Operating results for the interim periods are not necessarily indicative of the results that may be expected for the full year. Certain prior year amounts in the condensed consolidated financial statements have been reclassified to conform to the current year presentation. Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Segment reporting Operating segments are components of an enterprise for which separate financial information is available that is evaluated by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Utilizing these criteria, the Company manages its business on the basis of one operating segment and one reportable segment. It is impracticable for the Company to provide revenue by product line. Significant accounting policies Business Combinations The purchase price of a business acquisition is allocated to the assets acquired and liabilities assumed based upon their estimated fair values at the business combination date. The excess of purchase price over the fair value of assets acquired and liabilities assumed is recorded as goodwill. Determining fair value of identifiable assets, particularly intangibles, and liabilities acquired also requires the Company to make estimates, which are based on all available information and in some cases assumptions with respect to the timing and amount of future revenues and expenses associated with an asset. Unanticipated events or circumstances may occur that could affect the accuracy of the Company's fair value estimates, and under different assumptions, the resulting valuations could be materially different. Costs that are incurred to complete the business combination, such as legal and other professional fees, are not considered as a part of consideration transferred and are charged to selling, general and administrative expense as they are incurred. The Company made no other material changes in the application of its significant accounting policies that were disclosed in Note 2, “Summary of significant accounting policies,” to the audited consolidated financial statements as of and for the fiscal year ended March 31, 2020 included in the Annual Report. Revenue recognition The Company distributes product both through national and international retailers, as well as direct-to-consumers through its e-commerce channel. The marketing and consumer engagement benefits that the direct-to-consumer channel provides is integral to the Company’s brand and product development strategy and drives sales across channels. As such, the Company views its two primary distribution channels as components of one integrated business, as opposed to discrete revenue streams. The Company sells a variety of beauty products but does not consider them to be meaningfully different revenue streams given similarities in the nature of the products, the target consumer, and the innovation and distribution processes. The following table provides disaggregated revenue from contracts with customers by geographical market, as the nature, amount, timing and uncertainty of revenue and cash flows can differ between domestic and international customers (in thousands). Three months ended June 30, Net sales by geographic region: 2020 2019 United States $ 57,897 $ 53,780 International 6,630 5,984 Total net sales $ 64,527 $ 59,764 As of June 30, 2020 , other than accounts receivable, the Company had no material contract assets, contract liabilities or deferred contract costs recorded on its condensed consolidated balance sheet. Recent accounting pronouncements The following table provides a brief description of recent accounting pronouncements that could have a material effect on the Company’s financial statements: Recently adopted accounting standards Standard Description Date of adoption Effect on the financial statements or other significant matters ASU 2018-15, Intangibles-Goodwill and Other- Internal-Use Software (Subtopic 350-40) The standard requires customers in a cloud computing arrangement that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets or expense as incurred. Certain implementation costs incurred during the application development stage would be deferred and capitalized (e.g., costs of integration with on-premises software, coding, configuration, customization). Other costs incurred during the preliminary project and post-implementation stages would be expensed (e.g., planning the project, training, maintenance after implementation, data conversion). The amendments in the ASU can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. April 1, 2020 The Company adopted ASU 2018-15 prospectively, and the adoption of the standard did not have a material impact on the Company’s consolidated financial statements.

Acquisitions

Acquisitions	3 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions On February 24, 2020, the Company, through its wholly owned subsidiary, e.l.f. Cosmetics, Inc., completed its acquisition of W3LL People, a Santa Fe, New Mexico-based privately held, clean beauty company with a mission to create premium quality clean products that help people be well, look well, and do well. The purchase price of $25.9 million was in all cash and the total consideration in connection with the acquisition is subject to adjustment based on (i) purchase price adjustment provisions and (ii) indemnification obligations of W3LL People’s stockholders after the closing of the acquisition. The acquisition has been accounted for as a business combination under the acquisition method and, accordingly, the total purchase price is allocated to the tangible and intangible assets acquired and the liabilities assumed based on their respective fair values on the acquisition date. The final purchase price allocation is pending the finalization of deferred tax calculations and residual goodwill. W3LL People's results of operations have been included in the Company's consolidated financial statements from the date of acquisition. The following table presents the purchase price allocation recorded in the Company's consolidated balance sheets on the acquisition date (in thousands): March 31, 2020 Net tangible assets $ 2,239 Goodwill (1) 14,057 Intangible assets 12,340 Net deferred tax liability (2,713 ) Total purchase price consideration $ 25,923 (1) The goodwill represents the excess value over both tangible and intangible assets acquired and liabilities assumed. The goodwill recognized in this transaction is primarily attributable to expected operational synergies. None of the goodwill is expected to be deductible for tax purposes. Intangible Assets March 31, 2020 Fair Value Estimated Useful Life (in thousands) (in years) Customer relationships - retailers $ 8,800 10 Customer relationships - e-commerce 40 3 Trademarks 3,500 10 Total identified intangible assets $ 12,340

Investment in equity securities

Investment in equity securities	3 Months Ended
	Jun. 30, 2020
Investments, All Other Investments [Abstract]
Investment in equity securities	Investment in equity securities On April 14, 2017, the Company invested $ 2.9 million in a social media analytics company, which is included in investments on its condensed consolidated balance sheets. The Company has elected the measurement alternative for equity investments that do not have readily determinable fair values. The Company did no t record an impairment charge on its investment during the three months ended June 30, 2020 or 2019 , as any identified events or changes in circumstances did not result in an indicator for impairment. Further, there were no observable price changes in orderly transactions for the identical or a similar investment of the same issuer during the three months ended June 30, 2020 .

Goodwill and intangible assets

Goodwill and intangible assets	3 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets	Goodwill and intangible assets Information regarding the Company’s goodwill and intangible assets as of June 30, 2020 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 77,600 $ (44,440 ) $ 33,160 Customer relationships – e-commerce 3 years 3,940 (3,904 ) 36 Trademarks 10 years $ 3,500 $ (117 ) $ 3,383 Total finite-lived intangibles 85,040 (48,461 ) 36,579 Trademarks Indefinite 63,800 — 63,800 Goodwill 171,321 — 171,321 Total goodwill and other intangibles $ 320,161 $ (48,461 ) $ 271,700 Information regarding the Company’s goodwill and intangible assets as of March 31, 2020 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 77,600 $ (42,500 ) $ 35,100 Customer relationships – e-commerce 3 years 3,940 (3,901 ) 39 Trademarks 10 years $ 3,500 $ (29 ) $ 3,471 Total finite-lived intangibles 85,040 (46,430 ) 38,610 Trademarks Indefinite 63,800 — 63,800 Goodwill 171,321 — 171,321 Total goodwill and other intangibles $ 320,161 $ (46,430 ) $ 273,731 Information regarding the Company’s goodwill and intangible assets as of June 30, 2019 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 68,800 $ (37,267 ) $ 31,533 Customer relationships – e-commerce 3 years 3,900 (3,900 ) — Total finite-lived intangibles 72,700 (41,167 ) 31,533 Trademarks Indefinite 63,800 — 63,800 Goodwill 157,264 — 157,264 Total goodwill and other intangibles $ 293,764 $ (41,167 ) $ 252,597 Amortization expense on finite-lived intangible assets was $2.0 million and $1.7 million in the three months ended June 30, 2020 and June 30, 2019 , respectively. Certain trademark assets have been classified as indefinite-lived intangible assets and accordingly, are not subject to amortization. There were no impairments of goodwill or intangible assets recorded in the three months ended June 30, 2020 and June 30, 2019 . The estimated future amortization expense related to finite-lived intangible assets, assuming no impairment as of June 30, 2020 is as follows (in thousands): Remainder of 2021 $ 6,093 2022 8,123 2023 8,122 2024 6,963 2025 1,230 Thereafter 6,048 Total $ 36,579

Accrued expenses and other curr

Accrued expenses and other current liabilities	3 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Accrued expenses and other current liabilities	Accrued expenses and other current liabilities Accrued expenses and other current liabilities as of June 30, 2020 , March 31, 2020 and June 30, 2019 consisted of the following (in thousands): June 30, 2020 March 31, 2020 June 30, 2019 Accrued expenses $ 14,138 $ 12,518 $ 10,297 Current portion of operating lease liabilities 3,200 3,083 3,342 Accrued compensation 3,404 9,542 2,810 Other current liabilities 1,818 1,022 1,864 Accrued expenses and other current liabilities $ 22,560 $ 26,165 $ 18,313

Debt

Debt	3 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	Debt The Company’s outstanding debt as of June 30, 2020 , March 31, 2020 and June 30, 2019 consisted of the following (in thousands): June 30, 2020 March 31, 2020 June 30, 2019 Term loan (1) $ 133,505 $ 135,853 $ 142,883 Finance lease obligations 2,812 3,012 3,593 Total debt (2) 136,317 138,865 146,476 Less: debt issuance costs (429 ) (209 ) (284 ) Total debt, net of issuance costs 135,888 138,656 146,192 Less: current portion (13,187 ) (12,568 ) (10,681 ) Long-term portion of debt $ 122,701 $ 126,088 $ 135,511 (1) See Note 10, “Debt,” to the consolidated financial statements included in the Annual Report for details regarding the Senior Secured Credit Agreement (as defined below under the heading “Description of indebtedness”). As of June 30, 2020 , the Company was in compliance with all applicable financial covenants. (2) The gross carrying amounts of the Company’s long-term debt, before reduction of the debt issuance costs, and finance lease obligations approximate their fair values, based on Level 2 inputs (quoted prices for similar assets and liabilities in active markets or inputs that are observable), as the stated rates approximate market rates for loans with similar terms. The Company did not transfer any liabilities measured at fair value on a recurring basis to or from Level 2 for any of the periods presented. April 2020 Credit Agreement Amendment On April 8, 2020, the Company entered into a Third Amendment to Credit Agreement (the "Amendment"), amending its Senior Secured Credit Agreement (the "Credit Agreement") to modify the Company’s quarterly maintenance covenants, and to add interest rates with respect to borrowings associated with the added increased maximum permitted total net leverage ratios. Pursuant to the Amendment, borrowings under both the Revolving Credit Facility and the Term Loan Facility bear interest, at the Company's option, at either a rate per annum equal to (i) a rate per annum equal to an adjusted LIBOR rate determined by reference to the cost of funds for U.S. dollar deposits for the applicable interest period (subject to a minimum floor of 0% ) plus an applicable margin ranging from 1.50% to 3.25% based on our consolidated total net leverage ratio or (ii) a floating base rate plus an applicable margin ranging from 0.50% to 2.25% based on our consolidated total net leverage ratio. The interest rate as of June 30, 2020 for the Term Loan was approximately 2.1% . All amounts under the Revolving Credit Facility are available for draw until the maturity date on August 25, 2022. The Revolving Credit Facility is collateralized by substantially all of our assets and requires payment of an unused fee ranging from 0.35% to 0.25% (based on our consolidated total net leverage ratio) times the average daily amount of unutilized commitments under the Revolving Credit Facility. The Revolving Credit Facility also provides for sub-facilities in the form of a $7.0 million letter of credit and a $5.0 million swing line loan; however, all amounts under the Revolving Credit Facility cannot exceed $50.0 million . The unused balance of the Revolving Credit Facility as of June 30, 2020 was $49.8 million .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal contingencies From time to time, the Company is involved in legal proceedings, claims, and litigation arising in the ordinary course of business. The Company is not currently a party to any matters that management expects will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

Stock-based compensation

Stock-based compensation	3 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-based compensation	Stock-based compensation Service-based vesting stock options The following table summarizes the activity for options that vest solely based upon the satisfaction of a service condition for the three months ended June 30, 2020 : Options outstanding Weighted-average exercise price Weighted-average remaining contractual life (in years) Aggregate intrinsic values (in thousands) Balance as of March 31, 2020 1,999,553 $ 13.17 Exercised (98,970 ) 3.45 Canceled or forfeited (5,083 ) 21.61 Balance as of June 30, 2020 1,895,500 $ 13.66 6.6 $ 10,801 Exercisable, June 30, 2020 1,215,922 $ 12.77 6.0 $ 8,077 The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the Company's closing stock price of $19.07 , as reported on the New York Stock Exchange on June 30, 2020 . The Company recognized stock-based compensation cost related to service-based vesting options of $0.6 million in both the three months ended June 30, 2020 and June 30, 2019 . As of June 30, 2020 , there was $2.7 million of total unrecognized stock-based compensation cost related to unvested service-based stock options, which is expected to be recognized over the remaining weighted-average period of 1.9 years . All stock-based compensation cost is recorded in selling, general and administrative expenses. Performance-based and market-based vesting stock options The following table summarizes the activity for stock options that vest based upon the satisfaction of performance or market conditions for the three months ended June 30, 2020 : Options outstanding Weighted-average exercise price Weighted-average remaining contractual life (in years) Aggregate intrinsic values (in thousands) Balance as of March 31, 2020 1,252,932 $ 7.97 Exercised (27,600 ) 1.84 Balance as of June 30, 2020 1,225,332 $ 8.07 4.7 $ 15,807 Exercisable, June 30, 2020 925,332 $ 1.99 4.1 $ 15,807 The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the Company's closing stock price of $19.07 , as reported on the New York Stock Exchange on June 30, 2020 . As of June 30, 2020 and June 30, 2019 , there was no unrecognized compensation cost related to performance-based and market-based vesting stock options. Restricted stock The following table summarizes the activities for restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) for the three months ended June 30, 2020 : Shares of restricted stock outstanding Weighted-average grant date fair value Balance as of March 31, 2020 2,311,768 12.86 Granted 995,650 16.75 Vested (48,991 ) 14.08 Canceled or forfeited (56,104 ) 14.59 Balance as of June 30, 2020 3,202,323 14.02 As of June 30, 2020 , there were 1,658,396 unvested shares subject to RSAs outstanding. The Company recognized stock-based compensation cost related to RSAs and RSUs of $4.1 million and $3.3 million in the three months ended June 30, 2020 and June 30, 2019 , respectively. As of June 30, 2020 , there was $36.8 million of total unrecognized stock-based compensation cost related to unvested RSAs and RSUs, which is expected to be recognized over a weighted-average period of 2.5 years .

Restructuring and other related

Restructuring and other related costs	3 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring and other related costs	Restructuring and other related costs In February 2019, the Company closed all 22 e.l.f. retail stores and implemented a workforce reduction of employees that operated and managed the e.l.f. retail stores (the “Restructuring Plan”). In connection with the Restructuring Plan, the following table presents the restructuring (income) expenses incurred for the three months ended June 30, 2020 and June 30, 2019 , respectively (in thousands): Three months ended Three months ended June 30, 2019 Gain from extinguishment of lease liabilities $ — $ (2,637 ) Other costs, including other asset write-offs — 845 Total $ — $ (1,792 ) The gain from extinguishment of lease liabilities represents the difference between the aggregate operating lease liability and the aggregate cash payment incurred to extinguish such liability. The majority of the other costs incurred during the three months ended June 30, 2019 are legal fees related to these extinguishments. As of March 31, 2020, the Company had settled all outstanding lease liabilities related to its e.l.f. retail store closures and does not expect to incur additional costs associated with the Restructuring Plan. Therefore, there were no restructuring expenses incurred during the three months ended June 30, 2020 . Liabilities related to the Restructuring Plan are reported within accrued expenses and other current liabilities in the accompanying condensed consolidated balance sheets. There were no costs incurred or cash disbursements made during the three months ended June 30, 2020 . The following table presents a roll-forward of the Company's restructuring liability for the three months ended June 30, 2019 (in thousands): Employee severance and related expenses Other costs Total March 31, 2019 $ 96 $ 675 $ 771 Costs incurred (22 ) 867 845 Cash disbursements (74 ) (1,093 ) (1,167 ) Other adjustments — (131 ) (131 ) June 30, 2019 $ — $ 318 $ 318 Outstanding lease liabilities are not included in the table above, as those liabilities were established upon adoption of ASC 842, not in connection with the Restructuring Plan.

Repurchase of common stock

Repurchase of common stock	3 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Repurchase of common stock	Repurchase of common stock On May 8, 2019 , the Company's board of directors authorized a share repurchase program to acquire up to $25.0 million of the Company’s common stock (the “Share Repurchase Program”). Purchases under the Share Repurchase Program may be made from time to time through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions, or by any combination of such methods. The timing and amount of any repurchases pursuant to the Share Repurchase Program will be determined based on market conditions, share price and other factors. The Share Repurchase Program does not require the Company to repurchase any specific number of shares of its common stock, and may be modified, suspended or terminated at any time without notice. There is no guarantee that any shares will be purchased under the Share Repurchase Program and such shares are intended to be retired after purchase. The Company did not repurchase any shares during the three months ended June 30, 2020 . A total of $17.1 million remains available for purchase under the Share Repurchase Program as of June 30, 2020 .

Net income per share

Net income per share	3 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income per share	Net income per share The Company computes basic net income per share using the weighted average number of common shares outstanding. Diluted net income per share amounts are calculated using the treasury stock method for equity-based compensation awards. The following is a reconciliation of the numerator and denominator in the basic and diluted net income per common share computations (in thousands, except share and per share data): Three months ended June 30, 2020 2019 Numerator: Net income $ 1,512 $ 3,706 Denominator: Weighted average common shares outstanding - basic 48,924,454 48,345,942 Dilutive common equivalent shares from equity awards 2,015,484 1,971,146 Weighted average common shares outstanding - diluted 50,939,938 50,317,088 Net income per share: Basic $ 0.03 $ 0.08 Diluted $ 0.03 $ 0.07 Weighted average anti-dilutive shares from outstanding equity awards excluded from diluted earnings per share 2,567,951 2,891,303

Leases

Leases	3 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Leases	Leases The Company leases warehouses, distribution centers, office space, retail space and equipment. Prior to the Restructuring Plan, the Company also leased 22 e.l.f. retail store locations. The majority of the Company's leases include one or more options to renew, with renewal terms that can extend the lease term for up to five years . The exercise of lease renewal options is at the Company's sole discretion and such renewal options are included in the lease term if they are reasonably certain to be exercised. Certain leases also include options to purchase the leased asset. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Most of the Company's equipment leases are finance leases of assets used to operate its distribution centers in Ontario, California and Columbus, Ohio. Significant judgment is required to determine whether commercial contracts contain a lease for purposes of ASC 842. The discount rate used in measuring lease liabilities is generally based on the interest rate on the Company’s revolving line of credit, assuming sufficient unused capacity exists at the time the lease liability is measured. For the three months ended June 30, 2020 and June 30, 2019 , the components of operating and finance lease costs were as follows (in thousands): Classification June 30, 2020 June 30, 2019 Assets Operating lease assets (a) Other assets $ 13,695 7,446 Finance lease assets (b) Other assets 1,846 2,839 Total leased assets $ 15,541 10,285 Liabilities Current Operating (a) Accrued expenses and other current liabilities $ 3,200 3,342 Finance Current portion of long-term debt and finance lease obligations 812 781 Noncurrent Operating (a) Long-term operating lease obligations 11,400 13,945 Finance Long-term debt and finance lease obligations 2,000 2,812 Total lease liabilities $ 17,412 20,880 _____________________ (a) In accordance with ASC 842, $15.7 million of ROU assets related to operating leases were derecognized in the three months ended March 31, 2019 in connection with the Restructuring Plan. Pursuant to ASC 842, each related lease liability is derecognized only after the Company is released from that liability. See Note 10, “Restructuring and other related costs” for further details on the Restructuring Plan and the gain recorded on lease liabilities derecognized in the three months ended June 30, 2019 . (b) Finance leases are recorded net of accumulated amortization of $3.2 million and $2.2 million as of June 30, 2020 and June 30, 2019 , respectively. For the three months ended June 30, 2020 and June 30, 2019 , the components of operating and finance lease costs were as follows (in thousands): Classification June 30, 2020 June 30, 2019 Operating lease cost Selling, general and administrative (“SG&A”) expenses $ 1,080 $ 629 Gain from extinguishment of lease liabilities Restructuring income — (2,637 ) Finance lease cost Amortization of leased assets SG&A expenses 248 250 Interest on lease liabilities Interest expense, net 38 48 Total lease cost (gain) $ 1,366 $ (1,710 ) As of June 30, 2020 , the aggregate future minimum lease payments under non-cancellable leases presented in accordance with ASC 842 are as follows (in thousands): Operating leases Finance leases Total Remainder of 2021 $ 2,756 $ 712 $ 3,468 2022 2,542 908 3,450 2023 2,164 1,208 3,372 2024 2,210 234 2,444 2025 1,802 — 1,802 Thereafter 4,766 — 4,766 Total lease payments 16,240 3,062 $ 19,302 Less: Interest 1,640 250 Present value of lease liabilities $ 14,600 $ 2,812 For leases commencing prior to January 1, 2019, minimum lease payments exclude payments to landlords for real estate taxes and common area maintenance. These payments can be either fixed or variable, depending on the lease. For the three months ended June 30, 2020 and June 30, 2019 , the weighted average remaining lease term (in years) and discount rate were as follows: June 30, 2020 June 30, 2019 Weighted-average remaining lease term Operating leases 6.7 years 5.5 years Finance leases 3.0 years 4.0 years Weighted-average discount rate Operating leases 3.6 % 4.7 % Finance leases 5.2 % 5.2 % Operating cash outflows from operating leases for the three months ended June 30, 2020 and June 30, 2019 were $0.9 million and $4.0 million
Leases	Leases The Company leases warehouses, distribution centers, office space, retail space and equipment. Prior to the Restructuring Plan, the Company also leased 22 e.l.f. retail store locations. The majority of the Company's leases include one or more options to renew, with renewal terms that can extend the lease term for up to five years . The exercise of lease renewal options is at the Company's sole discretion and such renewal options are included in the lease term if they are reasonably certain to be exercised. Certain leases also include options to purchase the leased asset. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Most of the Company's equipment leases are finance leases of assets used to operate its distribution centers in Ontario, California and Columbus, Ohio. Significant judgment is required to determine whether commercial contracts contain a lease for purposes of ASC 842. The discount rate used in measuring lease liabilities is generally based on the interest rate on the Company’s revolving line of credit, assuming sufficient unused capacity exists at the time the lease liability is measured. For the three months ended June 30, 2020 and June 30, 2019 , the components of operating and finance lease costs were as follows (in thousands): Classification June 30, 2020 June 30, 2019 Assets Operating lease assets (a) Other assets $ 13,695 7,446 Finance lease assets (b) Other assets 1,846 2,839 Total leased assets $ 15,541 10,285 Liabilities Current Operating (a) Accrued expenses and other current liabilities $ 3,200 3,342 Finance Current portion of long-term debt and finance lease obligations 812 781 Noncurrent Operating (a) Long-term operating lease obligations 11,400 13,945 Finance Long-term debt and finance lease obligations 2,000 2,812 Total lease liabilities $ 17,412 20,880 _____________________ (a) In accordance with ASC 842, $15.7 million of ROU assets related to operating leases were derecognized in the three months ended March 31, 2019 in connection with the Restructuring Plan. Pursuant to ASC 842, each related lease liability is derecognized only after the Company is released from that liability. See Note 10, “Restructuring and other related costs” for further details on the Restructuring Plan and the gain recorded on lease liabilities derecognized in the three months ended June 30, 2019 . (b) Finance leases are recorded net of accumulated amortization of $3.2 million and $2.2 million as of June 30, 2020 and June 30, 2019 , respectively. For the three months ended June 30, 2020 and June 30, 2019 , the components of operating and finance lease costs were as follows (in thousands): Classification June 30, 2020 June 30, 2019 Operating lease cost Selling, general and administrative (“SG&A”) expenses $ 1,080 $ 629 Gain from extinguishment of lease liabilities Restructuring income — (2,637 ) Finance lease cost Amortization of leased assets SG&A expenses 248 250 Interest on lease liabilities Interest expense, net 38 48 Total lease cost (gain) $ 1,366 $ (1,710 ) As of June 30, 2020 , the aggregate future minimum lease payments under non-cancellable leases presented in accordance with ASC 842 are as follows (in thousands): Operating leases Finance leases Total Remainder of 2021 $ 2,756 $ 712 $ 3,468 2022 2,542 908 3,450 2023 2,164 1,208 3,372 2024 2,210 234 2,444 2025 1,802 — 1,802 Thereafter 4,766 — 4,766 Total lease payments 16,240 3,062 $ 19,302 Less: Interest 1,640 250 Present value of lease liabilities $ 14,600 $ 2,812 For leases commencing prior to January 1, 2019, minimum lease payments exclude payments to landlords for real estate taxes and common area maintenance. These payments can be either fixed or variable, depending on the lease. For the three months ended June 30, 2020 and June 30, 2019 , the weighted average remaining lease term (in years) and discount rate were as follows: June 30, 2020 June 30, 2019 Weighted-average remaining lease term Operating leases 6.7 years 5.5 years Finance leases 3.0 years 4.0 years Weighted-average discount rate Operating leases 3.6 % 4.7 % Finance leases 5.2 % 5.2 % Operating cash outflows from operating leases for the three months ended June 30, 2020 and June 30, 2019 were $0.9 million and $4.0 million

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	3 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation This report reflects the Company's first quarter of the fiscal year ending March 31, 2021 , covering the period from April 1, 2020 to June 30, 2020 . The accompanying unaudited condensed consolidated financial statements and related notes have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of the Company, these interim financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of June 30, 2020 , March 31, 2020 and June 30, 2019 , and its results of operations, stockholders' equity and cash flows for the three months ended June 30, 2020 and June 30, 2019 . All intercompany balances and transactions have been eliminated in consolidation. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2020 (the “Annual Report”). Operating results for the interim periods are not necessarily indicative of the results that may be expected for the full year. Certain prior year amounts in the condensed consolidated financial statements have been reclassified to conform to the current year presentation.
Use of estimates	Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
Segment reporting	Segment reporting Operating segments are components of an enterprise for which separate financial information is available that is evaluated by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Utilizing these criteria, the Company manages its business on the basis of one operating segment and one reportable segment. It is impracticable for the Company to provide revenue by product line.
Business combinations	Business Combinations The purchase price of a business acquisition is allocated to the assets acquired and liabilities assumed based upon their estimated fair values at the business combination date. The excess of purchase price over the fair value of assets acquired and liabilities assumed is recorded as goodwill. Determining fair value of identifiable assets, particularly intangibles, and liabilities acquired also requires the Company to make estimates, which are based on all available information and in some cases assumptions with respect to the timing and amount of future revenues and expenses associated with an asset. Unanticipated events or circumstances may occur that could affect the accuracy of the Company's fair value estimates, and under different assumptions, the resulting valuations could be materially different. Costs that are incurred to complete the business combination, such as legal and other professional fees, are not considered as a part of consideration transferred and are charged to selling, general and administrative expense as they are incurred. The Company made no other material changes in the application of its significant accounting policies that were disclosed in Note 2, “Summary of significant accounting policies,” to the audited consolidated financial statements as of and for the fiscal year ended March 31, 2020 included in the Annual Report.
Revenue recognition	Revenue recognition The Company distributes product both through national and international retailers, as well as direct-to-consumers through its e-commerce channel. The marketing and consumer engagement benefits that the direct-to-consumer channel provides is integral to the Company’s brand and product development strategy and drives sales across channels. As such, the Company views its two primary distribution channels as components of one integrated business, as opposed to discrete revenue streams. The Company sells a variety of beauty products but does not consider them to be meaningfully different revenue streams given similarities in the nature of the products, the target consumer, and the innovation and distribution processes.
Recent accounting pronouncements	Recent accounting pronouncements The following table provides a brief description of recent accounting pronouncements that could have a material effect on the Company’s financial statements: Recently adopted accounting standards Standard Description Date of adoption Effect on the financial statements or other significant matters ASU 2018-15, Intangibles-Goodwill and Other- Internal-Use Software (Subtopic 350-40) The standard requires customers in a cloud computing arrangement that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets or expense as incurred. Certain implementation costs incurred during the application development stage would be deferred and capitalized (e.g., costs of integration with on-premises software, coding, configuration, customization). Other costs incurred during the preliminary project and post-implementation stages would be expensed (e.g., planning the project, training, maintenance after implementation, data conversion). The amendments in the ASU can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. April 1, 2020 The Company adopted ASU 2018-15 prospectively, and the adoption of the standard did not have a material impact on the Company’s consolidated financial statements.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	3 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Disaggregation of Revenue	The following table provides disaggregated revenue from contracts with customers by geographical market, as the nature, amount, timing and uncertainty of revenue and cash flows can differ between domestic and international customers (in thousands). Three months ended June 30, Net sales by geographic region: 2020 2019 United States $ 57,897 $ 53,780 International 6,630 5,984 Total net sales $ 64,527 $ 59,764

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Schedule of Purchase Price Allocation	The following table presents the purchase price allocation recorded in the Company's consolidated balance sheets on the acquisition date (in thousands): March 31, 2020 Net tangible assets $ 2,239 Goodwill (1) 14,057 Intangible assets 12,340 Net deferred tax liability (2,713 ) Total purchase price consideration $ 25,923 (1) The goodwill represents the excess value over both tangible and intangible assets acquired and liabilities assumed. The goodwill recognized in this transaction is primarily attributable to expected operational synergies. None of the goodwill is expected to be deductible for tax purposes. Intangible Assets March 31, 2020 Fair Value Estimated Useful Life (in thousands) (in years) Customer relationships - retailers $ 8,800 10 Customer relationships - e-commerce 40 3 Trademarks 3,500 10 Total identified intangible assets $ 12,340

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	3 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Information Regarding Company's Goodwill and Intangible Assets	Information regarding the Company’s goodwill and intangible assets as of June 30, 2020 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 77,600 $ (44,440 ) $ 33,160 Customer relationships – e-commerce 3 years 3,940 (3,904 ) 36 Trademarks 10 years $ 3,500 $ (117 ) $ 3,383 Total finite-lived intangibles 85,040 (48,461 ) 36,579 Trademarks Indefinite 63,800 — 63,800 Goodwill 171,321 — 171,321 Total goodwill and other intangibles $ 320,161 $ (48,461 ) $ 271,700 Information regarding the Company’s goodwill and intangible assets as of March 31, 2020 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 77,600 $ (42,500 ) $ 35,100 Customer relationships – e-commerce 3 years 3,940 (3,901 ) 39 Trademarks 10 years $ 3,500 $ (29 ) $ 3,471 Total finite-lived intangibles 85,040 (46,430 ) 38,610 Trademarks Indefinite 63,800 — 63,800 Goodwill 171,321 — 171,321 Total goodwill and other intangibles $ 320,161 $ (46,430 ) $ 273,731 Information regarding the Company’s goodwill and intangible assets as of June 30, 2019 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 68,800 $ (37,267 ) $ 31,533 Customer relationships – e-commerce 3 years 3,900 (3,900 ) — Total finite-lived intangibles 72,700 (41,167 ) 31,533 Trademarks Indefinite 63,800 — 63,800 Goodwill 157,264 — 157,264 Total goodwill and other intangibles $ 293,764 $ (41,167 ) $ 252,597
Future Amortization Expense for Intangible Assets	The estimated future amortization expense related to finite-lived intangible assets, assuming no impairment as of June 30, 2020 is as follows (in thousands): Remainder of 2021 $ 6,093 2022 8,123 2023 8,122 2024 6,963 2025 1,230 Thereafter 6,048 Total $ 36,579

Accrued expenses and other cu_2

Accrued expenses and other current liabilities (Tables)	3 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities as of June 30, 2020 , March 31, 2020 and June 30, 2019 consisted of the following (in thousands): June 30, 2020 March 31, 2020 June 30, 2019 Accrued expenses $ 14,138 $ 12,518 $ 10,297 Current portion of operating lease liabilities 3,200 3,083 3,342 Accrued compensation 3,404 9,542 2,810 Other current liabilities 1,818 1,022 1,864 Accrued expenses and other current liabilities $ 22,560 $ 26,165 $ 18,313

Debt (Tables)

Debt (Tables)	3 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	The Company’s outstanding debt as of June 30, 2020 , March 31, 2020 and June 30, 2019 consisted of the following (in thousands): June 30, 2020 March 31, 2020 June 30, 2019 Term loan (1) $ 133,505 $ 135,853 $ 142,883 Finance lease obligations 2,812 3,012 3,593 Total debt (2) 136,317 138,865 146,476 Less: debt issuance costs (429 ) (209 ) (284 ) Total debt, net of issuance costs 135,888 138,656 146,192 Less: current portion (13,187 ) (12,568 ) (10,681 ) Long-term portion of debt $ 122,701 $ 126,088 $ 135,511 (1) See Note 10, “Debt,” to the consolidated financial statements included in the Annual Report for details regarding the Senior Secured Credit Agreement (as defined below under the heading “Description of indebtedness”). As of June 30, 2020 , the Company was in compliance with all applicable financial covenants. (2) The gross carrying amounts of the Company’s long-term debt, before reduction of the debt issuance costs, and finance lease obligations approximate their fair values, based on Level 2 inputs (quoted prices for similar assets and liabilities in active markets or inputs that are observable), as the stated rates approximate market rates for loans with similar terms. The Company did not transfer any liabilities measured at fair value on a recurring basis to or from Level 2 for any of the periods presented.

Stock-based compensation (Table

Stock-based compensation (Tables)	3 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Activity and Related Information	The following table summarizes the activity for stock options that vest based upon the satisfaction of performance or market conditions for the three months ended June 30, 2020 : Options outstanding Weighted-average exercise price Weighted-average remaining contractual life (in years) Aggregate intrinsic values (in thousands) Balance as of March 31, 2020 1,252,932 $ 7.97 Exercised (27,600 ) 1.84 Balance as of June 30, 2020 1,225,332 $ 8.07 4.7 $ 15,807 Exercisable, June 30, 2020 925,332 $ 1.99 4.1 $ 15,807 The following table summarizes the activity for options that vest solely based upon the satisfaction of a service condition for the three months ended June 30, 2020 : Options outstanding Weighted-average exercise price Weighted-average remaining contractual life (in years) Aggregate intrinsic values (in thousands) Balance as of March 31, 2020 1,999,553 $ 13.17 Exercised (98,970 ) 3.45 Canceled or forfeited (5,083 ) 21.61 Balance as of June 30, 2020 1,895,500 $ 13.66 6.6 $ 10,801 Exercisable, June 30, 2020 1,215,922 $ 12.77 6.0 $ 8,077
Summary of Activities for Restricted Stock Awards ("RSAs") and Restricted Stock Units ("RSUs")	The following table summarizes the activities for restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) for the three months ended June 30, 2020 : Shares of restricted stock outstanding Weighted-average grant date fair value Balance as of March 31, 2020 2,311,768 12.86 Granted 995,650 16.75 Vested (48,991 ) 14.08 Canceled or forfeited (56,104 ) 14.59 Balance as of June 30, 2020 3,202,323 14.02

Restructuring and other relat_2

Restructuring and other related costs (Tables)	3 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring Expenses	he following table presents the restructuring (income) expenses incurred for the three months ended June 30, 2020 and June 30, 2019 , respectively (in thousands): Three months ended Three months ended June 30, 2019 Gain from extinguishment of lease liabilities $ — $ (2,637 ) Other costs, including other asset write-offs — 845 Total $ — $ (1,792 )
Restructuring Related Liabilities	The following table presents a roll-forward of the Company's restructuring liability for the three months ended June 30, 2019 (in thousands): Employee severance and related expenses Other costs Total March 31, 2019 $ 96 $ 675 $ 771 Costs incurred (22 ) 867 845 Cash disbursements (74 ) (1,093 ) (1,167 ) Other adjustments — (131 ) (131 ) June 30, 2019 $ — $ 318 $ 318

Net income per share (Tables)

Net income per share (Tables)	3 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Reconciliation of Numerator and Denominator in Basic and Diluted Net Income (Loss) Per Common Share Computations	The following is a reconciliation of the numerator and denominator in the basic and diluted net income per common share computations (in thousands, except share and per share data): Three months ended June 30, 2020 2019 Numerator: Net income $ 1,512 $ 3,706 Denominator: Weighted average common shares outstanding - basic 48,924,454 48,345,942 Dilutive common equivalent shares from equity awards 2,015,484 1,971,146 Weighted average common shares outstanding - diluted 50,939,938 50,317,088 Net income per share: Basic $ 0.03 $ 0.08 Diluted $ 0.03 $ 0.07 Weighted average anti-dilutive shares from outstanding equity awards excluded from diluted earnings per share 2,567,951 2,891,303

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Balance Sheet Information	For the three months ended June 30, 2020 and June 30, 2019 , the components of operating and finance lease costs were as follows (in thousands): Classification June 30, 2020 June 30, 2019 Assets Operating lease assets (a) Other assets $ 13,695 7,446 Finance lease assets (b) Other assets 1,846 2,839 Total leased assets $ 15,541 10,285 Liabilities Current Operating (a) Accrued expenses and other current liabilities $ 3,200 3,342 Finance Current portion of long-term debt and finance lease obligations 812 781 Noncurrent Operating (a) Long-term operating lease obligations 11,400 13,945 Finance Long-term debt and finance lease obligations 2,000 2,812 Total lease liabilities $ 17,412 20,880 _____________________ (a) In accordance with ASC 842, $15.7 million of ROU assets related to operating leases were derecognized in the three months ended March 31, 2019 in connection with the Restructuring Plan. Pursuant to ASC 842, each related lease liability is derecognized only after the Company is released from that liability. See Note 10, “Restructuring and other related costs” for further details on the Restructuring Plan and the gain recorded on lease liabilities derecognized in the three months ended June 30, 2019 . (b) Finance leases are recorded net of accumulated amortization of $3.2 million and $2.2 million as of June 30, 2020 and June 30, 2019 , respectively. For the three months ended June 30, 2020 and June 30, 2019 , the weighted average remaining lease term (in years) and discount rate were as follows: June 30, 2020 June 30, 2019 Weighted-average remaining lease term Operating leases 6.7 years 5.5 years Finance leases 3.0 years 4.0 years Weighted-average discount rate Operating leases 3.6 % 4.7 % Finance leases 5.2 % 5.2 %
Components of Lease Expense	For the three months ended June 30, 2020 and June 30, 2019 , the components of operating and finance lease costs were as follows (in thousands): Classification June 30, 2020 June 30, 2019 Operating lease cost Selling, general and administrative (“SG&A”) expenses $ 1,080 $ 629 Gain from extinguishment of lease liabilities Restructuring income — (2,637 ) Finance lease cost Amortization of leased assets SG&A expenses 248 250 Interest on lease liabilities Interest expense, net 38 48 Total lease cost (gain) $ 1,366 $ (1,710 )
Maturities of Operating Lease Liabilities	As of June 30, 2020 , the aggregate future minimum lease payments under non-cancellable leases presented in accordance with ASC 842 are as follows (in thousands): Operating leases Finance leases Total Remainder of 2021 $ 2,756 $ 712 $ 3,468 2022 2,542 908 3,450 2023 2,164 1,208 3,372 2024 2,210 234 2,444 2025 1,802 — 1,802 Thereafter 4,766 — 4,766 Total lease payments 16,240 3,062 $ 19,302 Less: Interest 1,640 250 Present value of lease liabilities $ 14,600 $ 2,812
Maturities of Finance Lease Liabilities	As of June 30, 2020 , the aggregate future minimum lease payments under non-cancellable leases presented in accordance with ASC 842 are as follows (in thousands): Operating leases Finance leases Total Remainder of 2021 $ 2,756 $ 712 $ 3,468 2022 2,542 908 3,450 2023 2,164 1,208 3,372 2024 2,210 234 2,444 2025 1,802 — 1,802 Thereafter 4,766 — 4,766 Total lease payments 16,240 3,062 $ 19,302 Less: Interest 1,640 250 Present value of lease liabilities $ 14,600 $ 2,812

Summary of significant accoun_4

Summary of significant accounting policies - Additional Information (Details)	3 Months Ended
	Jun. 30, 2020segment
Accounting Policies [Abstract]
Number of operating segments	1
Number of reporting segments	1

Summary of significant accoun_5

Summary of significant accounting policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Total net sales	$ 64,527	$ 59,764
United States
Disaggregation of Revenue [Line Items]
Total net sales	57,897	53,780
International
Disaggregation of Revenue [Line Items]
Total net sales	$ 6,630	$ 5,984

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Feb. 24, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2020
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Goodwill		$ 171,321	$ 171,321	$ 157,264	$ 171,321
W3LL People
Business Acquisition [Line Items]
Purchase price	$ 25,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Net tangible assets			2,239		2,239
Goodwill			14,057		14,057
Total identified intangible assets			12,340		12,340
Net deferred tax liability			(2,713)		(2,713)
Total purchase price consideration			25,923		25,923
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]
Total identified intangible assets			12,340		12,340
Customer relationships - retailers | W3LL People
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Total identified intangible assets			8,800		8,800
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]
Total identified intangible assets			$ 8,800		$ 8,800
Estimated useful life			10 years
Customer relationships - e-commerce
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]
Estimated useful life		3 years		3 years	3 years
Customer relationships - e-commerce | W3LL People
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Total identified intangible assets			$ 40		$ 40
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]
Total identified intangible assets			$ 40		$ 40
Estimated useful life			3 years
Trademarks
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]
Estimated useful life		10 years			10 years
Trademarks | W3LL People
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Total identified intangible assets			$ 3,500		$ 3,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]
Total identified intangible assets			$ 3,500		$ 3,500
Estimated useful life			10 years

Investment in equity securiti_2

Investment in equity securities - Additional Information (Details) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Apr. 14, 2017
Debt and Equity Securities, FV-NI [Line Items]
Impairment charges on investment	$ 0	$ 0
Social Media Analytics Company
Debt and Equity Securities, FV-NI [Line Items]
Amount invested in minority equity investment			$ 2,900,000

Goodwill and intangible asset_2

Goodwill and intangible assets - Information Regarding Company's Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Schedule Of Intangible Assets And Goodwill [Line Items]
Total finite-lived intangibles, Gross carrying amount	$ 85,040	$ 72,700	$ 85,040
Total finite-lived intangibles, Accumulated amortization	(48,461)	(41,167)	(46,430)
Total	36,579	31,533	38,610
Goodwill, Gross carrying amount	171,321	157,264	171,321
Goodwill, Accumulated amortization	0	0	0
Goodwill, Net carrying amount	171,321	157,264	171,321
Total goodwill and other intangibles, Gross carrying amount	320,161	293,764	320,161
Total goodwill and other intangibles, Accumulated amortization	(48,461)	(41,167)	(46,430)
Total goodwill and other intangibles, Net carrying amount	271,700	252,597	273,731
Trademarks
Schedule Of Intangible Assets And Goodwill [Line Items]
Indefinite lived intangibles, Net carrying amount	$ 63,800	$ 63,800	$ 63,800
Customer relationships – retailers
Schedule Of Intangible Assets And Goodwill [Line Items]
Estimated useful life	10 years	10 years	10 years
Total finite-lived intangibles, Gross carrying amount	$ 77,600	$ 68,800	$ 77,600
Total finite-lived intangibles, Accumulated amortization	(44,440)	(37,267)	(42,500)
Total	$ 33,160	$ 31,533	$ 35,100
Customer relationships – e-commerce
Schedule Of Intangible Assets And Goodwill [Line Items]
Estimated useful life	3 years	3 years	3 years
Total finite-lived intangibles, Gross carrying amount	$ 3,940	$ 3,900	$ 3,940
Total finite-lived intangibles, Accumulated amortization	(3,904)	(3,900)	(3,901)
Total	$ 36	$ 0	$ 39
Trademarks
Schedule Of Intangible Assets And Goodwill [Line Items]
Estimated useful life	10 years		10 years
Total finite-lived intangibles, Gross carrying amount	$ 3,500		$ 3,500
Total finite-lived intangibles, Accumulated amortization	(117)		(29)
Total	$ 3,383		$ 3,471

Goodwill and intangible asset_3

Goodwill and intangible assets - Additional Information (Details) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense related to intangible assets	$ 2,000,000	$ 1,700,000
Impairments of goodwill or intangible assets	$ 0	$ 0

Goodwill and intangible asset_4

Goodwill and intangible assets - Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2021	$ 6,093
2022	8,123
2023	8,122
2024	6,963
2025	1,230
Thereafter	6,048
Total	$ 36,579	$ 38,610	$ 31,533

Accrued expenses and other cu_3

Accrued expenses and other current liabilities - Summary of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019
Payables and Accruals [Abstract]
Accrued expenses	$ 14,138	$ 12,518	$ 10,297
Current portion of operating lease liabilities	3,200	3,083	3,342
Accrued compensation	3,404	9,542	2,810
Other current liabilities	1,818	1,022	1,864
Accrued expenses and other current liabilities	$ 22,560	$ 26,165	$ 18,313

Debt - Schedule of Outstanding

Debt - Schedule of Outstanding Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019
Debt Instrument [Line Items]
Finance lease obligations	$ 2,812	$ 3,012	$ 3,593
Total debt	136,317	138,865	146,476
Less: debt issuance costs	(429)	(209)	(284)
Total debt, net of issuance costs	135,888	138,656	146,192
Less: current portion	(13,187)	(12,568)	(10,681)
Long-term portion of debt	122,701	126,088	135,511
Term Loan
Debt Instrument [Line Items]
Debt	$ 133,505	$ 135,853	$ 142,883

Debt - Narrative (Details)

Debt - Narrative (Details) - April 2020 Credit Agreement Amendment - USD ($) $ in Millions	Apr. 08, 2020	Jun. 30, 2020
Revolving Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate		2.10%
Maximum borrowing capacity	$ 50
Remaining borrowing capacity	$ 49.8
Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Unused fee percentage	0.35%
Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Unused fee percentage	0.25%
Revolving Credit Facility | Minimum Floor
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	3.25%
Revolving Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 7
Swing Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 5

Stock-based compensation - Summ

Stock-based compensation - Summary of Activity for Options Vest Solely Based upon Satisfaction of Service Condition (Details) - Service-based Vesting Stock Options $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares
Options outstanding
Beginning balance (in shares) | shares	1,999,553
Exercised (in shares) | shares	(98,970)
Canceled or forfeited (in shares) | shares	(5,083)
Ending balance (in shares) | shares	1,895,500
Options outstanding, Exercisable (in shares) | shares	1,215,922
Weighted-average exercise price
Beginning balance (in USD per share) | $ / shares	$ 13.17
Exercised (in USD per share) | $ / shares	3.45
Canceled or forfeited (in USD per share) | $ / shares	21.61
Ending balance (in USD per share) | $ / shares	13.66
Weighted-average exercise price, Exercisable (in USD per share) | $ / shares	$ 12.77
Weighted-average remaining contractual life (in years), Outstanding	6 years 7 months 6 days
Weighted-average remaining contractual life (in years), Exercisable	6 years
Aggregate intrinsic values, Outstanding | $	$ 10,801
Aggregate intrinsic values, Exercisable | $	$ 8,077

Stock-based compensation - Narr

Stock-based compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price (in USD per share)	$ 19.07
Service-based Vesting Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation cost	$ 0.6
Unrecognized stock-based compensation cost	$ 2.7
Unrecognized stock-based compensation cost, expected weighted-average period of recognition	1 year 10 months 24 days
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested RSAs outstanding (in shares)	1,658,396
Restricted Stock Awards and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation cost	$ 4.1	$ 3.3
Unrecognized stock-based compensation cost, expected weighted-average period of recognition	2 years 6 months
Unvested RSAs outstanding (in shares)	3,202,323		2,311,768
Unrecognized stock-based compensation cost	$ 36.8

Stock-based compensation - Su_2

Stock-based compensation - Summary of Activity for Options Vest Based upon Performance or Market Conditions (Details) - Performance-based and Market-based Vesting Options $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares
Options outstanding
Beginning balance (in shares) | shares	1,252,932
Exercised (in shares) | shares	(27,600)
Ending balance (in shares) | shares	1,225,332
Options outstanding, Exercisable (in shares) | shares	925,332
Weighted-average exercise price
Beginning balance (in USD per share) | $ / shares	$ 7.97
Exercised (in USD per share) | $ / shares	1.84
Ending balance (in USD per share) | $ / shares	8.07
Weighted-average exercise price, Exercisable (in USD per share) | $ / shares	$ 1.99
Weighted-average remaining contractual life (in years), Outstanding	4 years 8 months 12 days
Weighted-average remaining contractual life (in years), Exercisable	4 years 1 month 6 days
Aggregate intrinsic values, Outstanding | $	$ 15,807
Aggregate intrinsic values, Exercisable | $	$ 15,807

Stock-based compensation - Su_3

Stock-based compensation - Summary of Activities for Restricted Stock Awards ("RSAs") and Restricted Stock Units ("RSUs") (Details) - Restricted Stock Awards and Restricted Stock Units	3 Months Ended
	Jun. 30, 2020$ / sharesshares
Shares of restricted stock outstanding
Beginning balance (in shares) | shares	2,311,768
Granted (in shares) | shares	995,650
Vested (in shares) | shares	(48,991)
Canceled or forfeited (in shares) | shares	(56,104)
Ending balance (in shares) | shares	3,202,323
Weighted-average grant date fair value
Beginning balance (in USD per share) | $ / shares	$ 12.86
Granted (in USD per share) | $ / shares	16.75
Vested (in USD per share) | $ / shares	14.08
Canceled or forfeited (in USD per share) | $ / shares	14.59
Ending balance (in USD per share) | $ / shares	$ 14.02

Restructuring and other relat_3

Restructuring and other related costs - Narrative (Details)	1 Months Ended
	Feb. 28, 2019store
Restructuring and Related Activities [Abstract]
Number of stores closed	22

Restructuring and other relat_4

Restructuring and other related costs - Restructuring expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Gain from extinguishment of lease liabilities	$ 0	$ (2,637)
Other costs, including other asset write-offs	0	845
Total	$ 0	$ (1,792)

Restructuring and other relat_5

Restructuring and other related costs - Restructuring related liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Restructuring Reserve [Roll Forward]
Costs incurred	$ 0	$ (1,792)
Employee severance and related expenses
Restructuring Reserve [Roll Forward]
Beginning balance		96
Costs incurred		(22)
Cash disbursements		(74)
Other adjustments		0
Ending balance		0
Other costs
Restructuring Reserve [Roll Forward]
Beginning balance		675
Costs incurred		867
Cash disbursements		(1,093)
Other adjustments		(131)
Ending balance		318
Employee severance and related expenses and other costs
Restructuring Reserve [Roll Forward]
Beginning balance		771
Costs incurred		845
Cash disbursements		(1,167)
Other adjustments		(131)
Ending balance		$ 318

Repurchase of common stock - Na

Repurchase of common stock - Narrative (Details) - USD ($)	Jun. 30, 2020	May 08, 2019
Equity [Abstract]
Amount authorized under share repurchase program		$ 25,000,000
Remaining authorized repurchase amount	$ 17,100,000

Net income per share - Reconcil

Net income per share - Reconciliation of Numerator and Denominator in Basic and Diluted Net Income (Loss) Per Common Share Computations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Numerator:
Net income	$ 1,512	$ 3,706
Denominator:
Weighted average common shares outstanding - basic (in shares)	48,924,454	48,345,942
Dilutive common equivalent shares from equity awards (in shares)	2,015,484	1,971,146
Weighted average common shares outstanding - diluted (in shares)	50,939,938	50,317,088
Net income per share:
Basic (in USD per share)	$ 0.03	$ 0.08
Diluted (in USD per share)	$ 0.03	$ 0.07
Anti-dilutive securities excluded from diluted EPS:
Weighted average anti-dilutive shares from outstanding equity awards excluded from diluted earnings per share (in shares)	2,567,951	2,891,303

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended
	Jun. 30, 2020USD ($)store	Jun. 30, 2019USD ($)
Leases [Abstract]
Number of leased stores | store	22
Lessee operating lease, option to extend	P5Y
Operating cash flows from operating leases | $	$ 0.9	$ 4

Leases - Balance Sheet Line Ite

Leases - Balance Sheet Line Items (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019
Assets
Operating lease assets		$ 13,695		$ 7,446
Finance lease assets		1,846		2,839
Total leased assets		15,541		10,285
Current
Operating		3,200	$ 3,083	3,342
Finance		812		781
Noncurrent
Operating		11,400	$ 11,239	13,945
Finance		2,000		2,812
Total lease liabilities		17,412		20,880
ROU assets derecognized through restructuring	$ 15,700
Finance lease accumulated amortization		$ (3,200)		$ (2,200)
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]		us-gaap:OtherAssetsNoncurrent
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]		us-gaap:OtherAssetsNoncurrent
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]		us-gaap:AccruedLiabilitiesCurrent
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]		us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]		us-gaap:LongTermDebtAndCapitalLeaseObligations

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Operating lease cost	$ 1,080	$ 629
Gain from extinguishment of lease liabilities	0	(2,637)
Finance lease cost
Amortization of leased assets	248	250
Interest on lease liabilities	38	48
Total lease cost (gain)	$ 1,366	$ (1,710)

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019
Operating leases
Remainder of 2021	$ 2,756
2022	2,542
2023	2,164
2024	2,210
2025	1,802
Thereafter	4,766
Total lease payments	16,240
Less: Interest	1,640
Present value of lease liabilities	14,600
Finance leases
Remainder of 2021	712
2022	908
2023	1,208
2024	234
2025	0
Thereafter	0
Total lease payments	3,062
Less: Interest	250
Present value of lease liabilities	2,812	$ 3,012	$ 3,593
Total
Remainder of 2021	3,468
2022	3,450
2023	3,372
2024	2,444
2025	1,802
Thereafter	4,766
Total lease payments	$ 19,302

Leases - Weighted Average Assum

Leases - Weighted Average Assumptions (Details)	Jun. 30, 2020	Jun. 30, 2019
Weighted-average remaining lease term
Operating leases	6 years 8 months 12 days	5 years 6 months
Finance leases	3 years	4 years
Weighted-average discount rate
Operating leases	3.60%	4.70%
Finance leases	5.20%	5.20%