“The easing cost environment gives me further confidence in our ability to continue to expand our adjusted EBITDA margins.”

In context

“go. Even with that increased investment, our outlook implies adjusted EBITDA margin leverage of approximately 150 basis points year-over-year as compared to approximately 50 basis points previously. The improved outlook is supported by the combination of our strong sales growth, gross margin expansion and leverage in our non-marketing SG&A expenses. Overall, we are quite pleased to be in a position to meaningfully raise both our sales and profitability outlook in what continues to be a dynamic environment. In summary, we're pleased with our outstanding Q3 results and remain upbeat on our long-term growth potential. As Tarang discussed, we continue to see significant white space across cosmetics and skin care, both domestically and internationally to support our expected top-line growth. The easing cost environment gives me further confidence in our ability to continue to expand our adjusted EBITDA margins. Finally, we believe our solid balance sheet, low leverage and strong cash flow generation can continue to drive shareholder returns and support our overall growth. With that, operator, you may open the call to questions. Operator: [Operator Instructions] Our first question comes from Dara Mohsenian with Morgan Stanley. Please go ahead. Dara Mohsenian: Hey guys. Good afternoon. Tarang Amin: Good afternoon. Dara Mohsenian: So clearly, very strong top-line growth in the quarter, which accelerated sequentially and your implied forward fiscal Q4 revenue growth guidance is also very robust, even though you're normally very conservative with forward guidance. So, I guess, can you just give us an update on what's driving the confidence in the much higher revenue growth range short term? And”