Brilliant Earth Group, Inc.

Listed Company

BRLTCIK 0001866757NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthJewelry, Silverware & Plated WareNevadaFY ends Dec 31

Period

FY 2025

Revenue

$437.48M

Net Income

$-3.63M

Total Assets

$200.90M

Equity

$12.30M

Shares Out

9.58M

Op. Cash Flow

$9.72M

Business

Brilliant Earth Group, Inc. is a digitally native omnichannel jewelry company and global leader in ethically sourced fine jewelry, operating a technology-driven retail and fulfillment business. It offers premium diamond engagement and wedding rings, gemstone rings, and a broad assortment of fine jewelry including earrings, necklaces, and bracelets, with proprietary and customizable Design Your Own options and blockchain-verified and lab-grown diamond assortments. Key business functions include an award-winning in-house design studio, e-commerce platform, appointment-driven showrooms, and integrated manufacturing and fulfillment operations. The company sells primarily through its mobile-first website and 40 U.S. showrooms and reaches customers in over 50 countries through online channels and select international initiatives.

Summary from filing dated 2025-03-13

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	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	437	422	446	440	380
Cost of sales	186	168	189	206	193
Gross profit	252	254	257	234	187
Marketing and advertising	106	108	119	—	—
General and administrative	151	143	133	—	—
Total operating expenses	257	251	253	—	—
(Loss) income from operations	−5	3	4	23	40
Interest expense	−2	−5	−5	—	—
Other income, net	4	6	5	805,000	−7
Gain on TRA liability adjustment	8	0	—	—	—
Loss on extinguishment of debt	−573,000	0	0	−617,000	0
Income before income tax expense	3	4	4	19	26
Income tax expense	−10	−200,000	400,000	200,000	316,000
Net (loss) income	−6	4	5	19	26
Net (loss) income allocable to non-controlling interest	−3	3	4	17	25
Net (loss) income allocable to Brilliant Earth Group, Inc.	−4	541,000	584,000	2	2
Basic (in dollars per share)	−0.25	0.04	0.05	0.2	—
Diluted (in dollars per share)	−0.25	0.03	0.04	0.15	—
Basic (in shares)	15	13	12	11	—
Diluted (in shares)	15	98	97	97	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	79	162	156	155	173
Restricted cash	349,000	216,000	211,000	205,000	205,000
Inventories, net	53	38	38	39	25
Prepaid expenses and other current assets	12	11	11	12	8
Total current assets	145	211	205	206	206
Property and equipment, net	20	22	22	17	7
Deferred tax assets	0	10	10	9	4
Operating lease right of use assets	32	35	34	28	0
Other assets	5	3	3	3	601,000
Total assets	201	281	274	263	218
Accounts payable	25	16	17	11	14
Accrued expenses and other current liabilities	36	32	31	38	29
Deferred revenue	23	19	20	19	19
Current portion of operating lease liabilities	7	6	5	4	0
Current portion of long-term debt	0	6	4	3	31
Total current liabilities	90	78	77	75	93
Long-term debt, net of debt issuance costs	0	50	56	59	33
Operating lease liabilities	31	36	36	29	0
Payable pursuant to the Tax Receivable Agreement	0	8	8	7	4
Total liabilities	121	172	176	169	135
Commitments and contingencies (Note 13)	—	—	—	—	—
Preferred stock, $0.0001 par value per share, 10,000,000 shares authorized, none issued and outstanding at December 31, 2025 and 2024, respectively	0	0	0	0	0
Additional paid-in capital	16	11	8	7	7
Treasury stock, at cost; 574,677 shares and 281,981 shares at December 31, 2025 and 2024, respectively	−1	−638,000	0	—	—
Retained earnings	−3	5	4	4	2
Stockholders' equity attributable to Brilliant Earth Group, Inc.	12	15	13	11	8
Non-controlling interests attributable to Brilliant Earth, LLC	67	94	85	82	74
Total stockholders' equity	80	109	97	93	83
Total liabilities and stockholders' equity	201	281	274	263	218

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	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	6	5	4	2	900,000
Equity-based compensation	9	10	10	9	3
Non-cash operating lease cost	6	6	5	3	0
Amortization of debt issuance costs	200,000	291,000	269,000	592,000	2
Deferred tax expense	10	128,000	−488,000	−168,000	−316,000
Other	247,000	213,000	60,000	180,000	39,000
Inventories	−15	−686,000	1	−15	−11
Prepaid expenses and other current assets	−838,000	667,000	2	−2	−5
Other assets	−2	−728,000	529,000	−2	−343,000
Accounts payable, accrued expenses and other current liabilities	13	−725,000	2	2	15
Deferred revenue	4	−630,000	1	−455,000	8
Operating lease liabilities	−7	−6	−4	−3	0
Net cash provided by operating activities	10	18	26	15	46
Purchases of property and equipment	−4	−5	−12	−9	−6
Net cash used in investing activities	−4	−5	−12	−9	−6
Dividends, distributions and TRA payments to members	−28	−2	−10	—	—
Repurchases of common stock	−456,000	−638,000	0	—	—
Payments of debt issuance costs	−131,000	−100,000	0	−1	0
Dividends paid on Class A common stock	−4	0	—	—	—
Payments on SVB term loan	−56	−4	−3	−2	0
Net cash used in financing activities	−88	−7	−13	−24	66
Net (decrease) increase in cash, cash equivalents and restricted cash	−83	6	1	−18	107
Right-of-use assets obtained in exchange for new operating lease liabilities	3	7	12	14	0
Deferred tax assets associated with redemption of LLC Units	−11,000	−9,000	309,000	4	4
TRA Obligation associated with redemption of LLC Units	11,000	207,000	826,000	4	4
Purchases of property and equipment included in accounts payable and accrued liabilities	139,000	24,000	414,000	3	21,000
Change to APIC related to redemption of LLC Units	−4,000	216,000	−517,000	754,000	316,000
Cash paid for interest	2	5	5	4	6
Cash paid for taxes	0	2,000	68,000	175,000	0

Filings

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