E.l.f. Beauty reported a 51% increase in net sales for its second fiscal quarter, beating Wall Street expectations. The company said it saw its 31st consecutive quarter of net sales growth. It attributed the gains to strong performance across its portfolio, driven by both retail and e-commerce channels in the U.S. and internationally.

"The thing I'm most pleased about is we saw strength across our entire portfolio," CEO Tarang Amin told CNBC. "Every one of our brands contributed strong growth this quarter."

Amin said E.l.f. is the most-searched brand on TikTok Shop and the No. 2 brand in cosmetics on the platform. The company also reported strong results for Rhode, the skincare brand it acquired last year.

The company raised its full fiscal-year guidance. It now expects net sales of $2 billion to $2.03 billion, up from a previous range of $1.94 billion to $1.97 billion. It also raised its adjusted EBITDA projection to $421 million to $427 million, from $401 million to $407 million. Adjusted earnings per share are now expected between $3.82 and $3.86, compared with prior guidance of $3.50 to $3.55. Net income is projected at $231 million to $233 million, up from $212 million to $215 million. The company had already raised guidance the previous quarter.

For the period ended Sept. 30, E.l.f. reported net income of $30.03 million, or 50 cents per share, compared with roughly $3 million, or 5 cents per share, a year earlier.

International business grew 165%, according to the company. Amin told CNBC that only 25% of the company's business is outside the U.S. and called the opportunity "tremendous."

Gross margin rose 1.6% during the quarter, including a 0.3% benefit from tariff refunds. Amin said the company plans to reinvest that money into pricing and marketing. The company expects a yearly total of around $55 million in tariff refunds, with most received in the first quarter. Amin said E.l.f. lowered the price of about 10% of its units by $1 because of the tariff benefits, adding, "We're seeing great unit momentum based on that." He said the company is "very bullish" on the holiday season.