Black Rock Coffee Bar, Inc.

Listed Company

BRCBCIK 0002068577NasdaqEmerging GrowthRetail-Eating & Drinking PlacesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$200.32M

Net Income

$-60.0K

Total Assets

$336.44M

Equity

$45.67M

Shares Out

—

Op. Cash Flow

$2.19M

Business

Black Rock Coffee Bar, Inc. is a publicly listed company in Eating & Drinking Places, incorporated in Delaware. Common stock trades on Nasdaq under the ticker BRCB.

Auto-generated from company profile

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Total revenue	200	161	133
Beverage, food and packaging costs	56	46	42
Labor and related expenses	42	35	30
Occupancy and related expenses	16	13	11
Other store operating expenses	27	21	17
Total store operating costs and expenses	142	116	100
Selling, general and administrative expenses	41	25	20
Depreciation and amortization	12	10	9
Pre-opening costs	4	3	2
Total operating expenses	199	155	131
Income from operations	901,000	6	2
Interest expense, net	−9	−11	−11
Other income (expense), net	−8	−2	566,000
Loss before income taxes	−16	−7	−8
Income tax expense	475,000	270,000	357,000
Net loss	−17	−7	−9
Less: Net loss attributable to Black Rock OpCo prior to the Transactions	−16	0	0
Less: Net income (loss) attributable to noncontrolling interest	−102,000	20,000	119,000
Net loss attributable to Black Rock Coffee Bar, Inc.	−60,000	−7	−9
Basic (in dollars per share)	0	—	—
Diluted (in dollars per share)	0	—	—
Basic (in shares)	17	—	—
Diluted (in shares)	17	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31
Cash and cash equivalents	28	10
Receivables, net	3	4
Inventories	3	2
Prepaid expenses and deposits	5	3
Total current assets	40	19
Property and equipment, net	101	70
Operating lease right-of-use assets, net	127	102
Note receivable from related party	0	5
Other assets	277,000	0
Goodwill	9	9
Deferred income tax asset	53	0
Intangible assets, net	6	7
Total assets	336	213
Accounts payable	12	7
Accrued expenses	8	3
Accrued payroll and benefits	7	7
Deferred compensation	0	6
Gift card and loyalty program liability	2	1
Current portion of long-term debt	835,000	925,000
Current portion of operating lease liabilities	9	8
Total current liabilities	39	33
Tax receivable agreement liability	39	0
Long-term debt, net of current portion	26	89
Operating lease liabilities, net of current portion	128	107
Total liabilities	232	230
Commitments and Contingencies (Note 17)	—	—
Total temporary equity	—	241
Members deficit (4,000,000 Class A Common Units authorized as of December 31, 2024; 2,646,087 units issued and outstanding as of December 31, 2024)	—	−258
Preferred stock, par value $0.00001 per share; 20,000,000 shares authorized, no shares issued or outstanding as of December 31, 2025	0	—
Additional paid-in capital	46	—
Accumulated deficit	−60,000	—
Total shareholders' equity attributable to Black Rock Coffee Bar, Inc./members' deficit	46	−258
Noncontrolling interest	59	0
Total shareholders' equity/members' deficit	105	−258
Total liabilities, temporary equity and shareholders' equity/members' deficit	336	213

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Depreciation and amortization	12	10	9
Forgiveness of Related Party Note Receivable	5	0	0
Loss on disposal of property and equipment	0	259,000	0
Amortization of debt issuance costs and loan fees	1	1	1
Accrued paid-in-kind interest	133,000	388,000	824,000
Interest income from related party	−88,000	−184,000	−92,000
Loss on extinguishment of debt	2	0	0
Equity-based compensation	2	0	0
Deferred income taxes	232,000	0	0
TRA remeasurement gain	−334,000	0	0
Non-cash operating lease costs	9	8	7
Other loss (gain)	0	259,000	−400,000
Receivables, net	220,000	−4	290,000
Inventories	−843,000	−596,000	331,000
Prepaid expenses and deposits	−2	−924,000	−26,000
Other assets	−277,000	0	634,000
Accounts payable	4	27,000	−2
Accrued payroll and benefits	−435,000	2	2
Deferred compensation	−6	3	2
Accrued expenses	−9,000	146,000	−391,000
Gift card and loyalty program liability	940,000	408,000	−1
Operating lease liabilities	−8	−1	−5
Net cash provided by operating activities	2	13	5
Purchases of property and equipment	−35	−22	−16
Purchase of intangible assets	−430,000	−745,000	−248,000
Note receivable from related party	0	0	−5
Proceeds from Roasters settlement	0	0	6
Net cash used in investing activities	−35	−23	−15
Proceeds from initial public offering, net of underwriting discounts and commissions	315	0	0
Payments of costs related to initial public offering	−8	0	0
Purchase of LLC Units from Continuing Equity Owners	−243	0	0
Proceeds from long-term debt	75	13	0
Payments on long-term debt	−144	−894,000	−800,000
Payments of debt issuance costs and loan fees	−1	−2	−448,000
Purchase of noncontrolling interest position	0	−2	—
Payments for redemption of outstanding Series A units	−3	−15	—
Unitholder contributions	62	10	31
Unitholder distributions	−600,000	−624,000	−8
Net cash provided by financing activities	51	3	22
Net increase (decrease) in cash and cash equivalents	18	−7	11
Cash paid during the year for interest, net of capitalized interest	9	10	9
Income taxes paid, net of refunds	340,000	277,000	195,000
Additions of property and equipment accrued in accounts payable and accrued expenses	8	2	845,000
Noncash recognition of finance obligations related to failed sale-leaseback transactions	3	0	0

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