“We now expect net sales growth of approximately 14% to 16% versus fiscal 2021, up from 12% to 14% previously.”

In context

“roximately $130 million. We ended the quarter with $42 million in cash on hand, compared to a cash balance of $41 million a year ago. Our current cash balance reflects paying down our revolving credit facility, reducing our overall debt by $13 million in the quarter. Our ending inventory balance was $77 million in line with our expectations as compared to $64 million a year ago. As a reminder, last quarter we spoke about anticipating higher inventory levels in September from the combination of longer lead times higher transportation costs the addition of Keys Soulcare and W3LL PEOPLE and our continued business momentum. We expect our cash priorities to remain on investing behind our 5 strategic imperatives and supporting strategic extensions. Now let's turn to our outlook for fiscal 2022. We now expect net sales growth of approximately 14% to 16% versus fiscal 2021, up from 12% to 14% previously. We continue to expect adjusted EBITDA between $66.5 million to $68 million, adjusted net income between $36 million and $37.5 million and adjusted EPS of $0.65 to $0.68 per diluted share. We expect a fully diluted share count of approximately 55 million shares and our fiscal 2022 tax rate to be approximately 23% to 24%. Let me provide you with more color on our planning assumptions for fiscal 2022. Our raised top-line guidance largely reflects our outperformance in Q2 relative to our expectations. Looking to the second half, we remain mindful of the industry wide container imbalance and the continued elevation in costs as a result. As Tarang mentioned, we're proud of how our team has navigated these logistics to date. However, it remains a dynamic environment and we believe it's prudent t”