$BRLT

Brilliant Earth Group, Inc.

CIK:0001866757|SEC Filings

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 115,111	$ 108,936	$ 214,615	$ 202,820
Cost of sales	48,467	45,432	93,903	84,274
Gross profit	66,644	63,504	120,712	118,546
Operating expenses:
Marketing and advertising	26,235	26,271	49,757	49,233
General and administrative	39,963	38,446	79,390	74,049
Total operating expenses	66,198	64,717	129,147	123,282
Income (loss) from operations	446	(1,213)	(8,435)	(4,736)
Interest expense	0	(895)	0	(2,010)
Other income, net	396	1,138	824	2,378
Income (loss) before income taxes	842	(970)	(7,611)	(4,368)
Income tax expense	0	(143)	0	(12)
Net income (loss)	842	(1,113)	(7,611)	(4,380)
Net income (loss) allocable to non-controlling interest	822	(947)	(6,120)	(3,748)
Net income (loss) allocable to Brilliant Earth Group, Inc.	$ 20	$ (166)	$ (1,491)	$ (632)
Earnings per share:
Basic (in dollars per share)	$ 0.00	$ (0.01)	$ (0.09)	$ (0.04)
Diluted (in dollars per share)	$ 0.01	$ (0.01)	$ (0.09)	$ (0.04)
Weighted average shares of common stock outstanding:
Basic (in shares)	16,452,498	14,552,477	16,133,940	14,333,268
Diluted (in shares)	101,681,331	14,552,477	16,133,940	14,333,268

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net loss	$ (7,611)	$ (4,380)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	3,269	3,032
Impairment of cloud computing implementation costs	1,793	0
Equity-based compensation	2,806	4,697
Non-cash operating lease cost	3,516	3,174
Amortization of debt issuance costs	0	149
Deferred tax benefit	0	12
Other	218	149
Changes in assets and liabilities:
Inventories	(284)	(9,205)
Prepaid expenses and other current assets	1,400	1,169
Other assets	(604)	(642)
Accounts payable, accrued expenses and other current liabilities	(6,221)	2,079
Deferred revenue	4,247	5,197
Operating lease liabilities	(3,888)	(3,488)
Net cash provided by (used in) operating activities	(1,359)	1,943
Investing activities
Purchases of property and equipment	(1,449)	(1,882)
Net cash used in investing activities	(1,449)	(1,882)
Financing activities
Payments on SVB term loan	0	(21,220)
Repurchases of common stock	0	(360)
Payment of debt issuance costs	0	(131)
Distributions and TRA payments to members	(1,555)	(6,657)
Net cash used in financing activities	(1,555)	(28,368)
Net decrease in cash, cash equivalents and restricted cash	(4,363)	(28,307)
Cash, cash equivalents and restricted cash at beginning of period	79,438	162,141
Cash, cash equivalents and restricted cash at end of period	75,075	133,834
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	74,948	133,615
Restricted cash	127	219
Total cash, cash equivalents, and restricted cash	75,075	133,834
Non-cash investing and financing activities
Right-of-use assets obtained in exchange for operating lease liabilities	7,750	3,694
Change in deferred tax assets associated with redemption of LLC Units	0	(1)
TRA Obligation associated with redemption of LLC Units	0	2
Purchases of property and equipment included in accounts payable and accrued liabilities	$ 312	$ 56

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 74,948	$ 79,089
Restricted cash	127	349
Inventories, net	53,315	53,238
Prepaid expenses and other current assets	11,068	12,052
Total current assets	139,458	144,728
Property and equipment, net	18,103	19,622
Operating lease right of use assets	35,697	31,879
Other assets	3,485	4,674
Total assets	196,743	200,903
Current liabilities:
Accounts payable	28,294	24,804
Accrued expenses and other current liabilities	26,298	35,732
Deferred revenue	26,918	22,671
Current portion of operating lease liabilities	6,993	6,896
Total current liabilities	88,503	90,103
Operating lease liabilities	34,928	31,163
Total liabilities	123,431	121,266
Commitments and contingencies (Note 9)
Stockholders' equity
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, none issued and outstanding at June 30, 2026 and December 31, 2025, respectively	0	0
Additional paid-in capital	17,368	16,024
Treasury stock, at cost; 574,677 and 574,677 shares at June 30, 2026 and December 31, 2025, respectively	(1,094)	(1,094)
Accumulated deficit	(4,131)	(2,640)
Stockholders' equity attributable to Brilliant Earth Group, Inc.	12,154	12,301
Non-controlling interests attributable to Brilliant Earth, LLC	61,158	67,336
Total stockholders' equity	73,312	79,637
Total liabilities and stockholders' equity	196,743	200,903
Class A Common Stock
Stockholders' equity
Common stock, value, issued	2	2
Class B Common Stock
Stockholders' equity
Common stock, value, issued	4	4
Class C Common Stock
Stockholders' equity
Common stock, value, issued	5	5
Class D Common Stock
Stockholders' equity
Common stock, value, issued	$ 0	$ 0