“We expect a fully diluted average share count of approximately 57 million shares and our fiscal ‘24 adjusted tax rate to be approximately 21% to 22%.”

In context

“fiscal ‘23 with a net cash position and less than 1x leverage in terms of total debt to adjusted EBITDA. We expect to continue our free cash flow generation in fiscal ‘24. Looking at our cash priorities. First and foremost, we plan to continue to invest in our people and infrastructure to fuel our growth. As Tarang discussed, this year, we plan to invest behind our ERP transition to SAP, working capital to support the strong demand we continue to see, and increasing our distribution capacity. Now let’s turn to our initial outlook for fiscal ‘24. For the full year, we expect net sales growth of approximately 22% to 24%, adjusted EBITDA between $144.5 million to $147.5 million, adjusted net income between $98.5 million to $100.5 million, and adjusted EPS of $1.73 to $1.76 per diluted share. We expect a fully diluted average share count of approximately 57 million shares and our fiscal ‘24 adjusted tax rate to be approximately 21% to 22%. Let me provide you with additional color on our planning assumptions for fiscal ‘24. Starting with the top line. We ended the fiscal year with significant momentum and believe we have the right strategy in place to support our growth in the year ahead. In Q1, we expect our net sales growth to come in well ahead of our 22% to 24% annual growth, reflecting the ongoing strong consumption trends we are seeing. As we look out to the remainder of the year, we remain bullish on the cosmetics category and our ability to gain share. At the same time, we are mindful of macroeconomic uncertainty and potential recessionary risks. We believe our outlook appropriately balances these elements, and our approach has been consistent, serving us well as we’ve navigated a dynamic operating environment to del”