e.l.f. Halo Glow
A liquid highlighter from a company that's posted nearly 30 consecutive quarters of sales growth — and just added Hailey Bieber's Rhode to its portfolio for $1 billion.
e.l.f.'s Halo Glow is a liquid highlighter/skin tint from e.l.f. Cosmetics, the affordable makeup brand that's become one of the most consistently fast-growing public companies in all of beauty. e.l.f. Beauty's stock performance and quarter-after-quarter growth streak are arguably a bigger story than any single product in its lineup, Halo Glow included.
A rare public beauty company with genuinely uninterrupted growth
e.l.f. Beauty has built its identity on inexpensive, fast-follow versions of trending prestige products — Halo Glow specifically drew comparisons to much pricier liquid highlighters at a fraction of the cost — and has converted that positioning into an unusually long streak of consecutive growth quarters for a publicly traded consumer brand, an industry where even strong performers typically see occasional down quarters.
That growth hasn't been friction-free: e.l.f.'s stock has been notably volatile, with swings of more than 5% on more than 40 separate trading days in a single year, reflecting how closely Wall Street is watching whether the company's rapid top-line growth can keep translating into actual profit as marketing costs and tariffs squeeze margins.
Betting big on acquisitions to keep the streak alive
The 2025 acquisition of Rhode for $1 billion is e.l.f.'s clearest recent bet on buying growth rather than just building it internally — Rhode's contribution was cited as a significant driver of e.l.f.'s subsequent quarterly results, especially following a strong Rhode launch in the UK.
e.l.f. has taken a similar approach with other acquisitions in recent years (including Naturium), building a portfolio strategy that looks less like a single beauty brand and more like a holding company for several fast-growing ones — an approach still being tested as margin pressure has become a bigger part of the investor conversation around the stock.
