“We expect our cash priorities for the coming year to remain on investing behind our five strategic imperatives and supporting strategic extensions.”

In context

“rt, our results were exceptional as our team navigated a dynamic environment. For the year we grew net sales by 23% and adjusted EBITDA by 22%. Our liquidity remains strong with the combination of our cash balance and access to our revolving credit facility sitting at approximately $140 million. We ended the quarter with $43 million in cash-on-hand compared to a cash balance of $58 million a year ago. Our ending inventory balance was $85 million, in line with our expectations, as compared to $57 million a year ago. As a reminder, we plan to carry higher inventory levels due to the combination of longer lead times, higher transportation costs, and our continued business momentum. We have benefited from this proactive inventory strategy during the recent COVID related disruptions in China. We expect our cash priorities for the coming year to remain on investing behind our five strategic imperatives and supporting strategic extensions. Now let’s turn to fiscal ‘23 guidance. For the full year we expect net sales growth of approximately 10% to 12%, adjusted EBITDA between $80.5 million to $82 million, adjusted net income between $43.5 million to $45.5 million and adjusted EPS of $0.78 to $0.81 per diluted share. We expect a fully diluted share count of approximately 56 million shares and our fiscal ‘23 adjusted tax rate to be approximately 27% to 28%. Let me provide you with additional color on our planning assumptions for fiscal ‘23. Starting with top line, we expect to post double digit top line growth in each quarter of fiscal ‘23. As Tarang discussed, we are bullish on the cosmetics category and our ability to gain share. Our consumption trends remain strong. After significant variability in consumption trends over t”