Financial Performance - Net sales for Q1 2025 were $93,884,000, a decrease of 3.5% compared to $97,337,000 in Q1 2024[25] - Gross profit for Q1 2025 was $55,042,000, down from $58,306,000 in Q1 2024, reflecting a decline of 5.0%[25] - The company reported a net loss of $3,267,000 in Q1 2025, compared to a net income of $1,067,000 in Q1 2024[25] - Basic earnings per share for Q1 2025 were $(0.03), down from $0.01 in Q1 2024[25] - The net loss for the period ending March 31, 2025, was $3,267,000, compared to a net loss of $2,801,000 for the same period in the previous year, indicating a deterioration in financial performance[28] - For the three months ended March 31, 2025, the net loss was $3.267 million compared to a net income of $1.067 million for the same period in 2024, indicating a significant decline in profitability[31] - The company reported a net loss of $3.3 million for the three months ended March 31, 2025, which is a decline of 406.2% compared to a net loss of $1.1 million for the same period in 2024[96] - Adjusted EBITDA for the three months ended March 31, 2025, was $1.1 million, down 78.8% from $5.1 million for the same period in 2024[96] - The adjusted EBITDA margin for the three months ended March 31, 2025, was 1.1%, compared to 5.2% for the same period in 2024[96] Operating Expenses - Total operating expenses increased to $58,565,000 in Q1 2025, compared to $57,429,000 in Q1 2024, representing a rise of 1.98%[25] - Operating expenses increased by $1.1 million, or 2.0%, for the three months ended March 31, 2025, with operating expenses as a percentage of net sales rising by 340 basis points[115] Assets and Liabilities - Total current assets decreased to $197,956,000 as of March 31, 2025, from $211,413,000 as of December 31, 2024, a decline of 6.3%[20] - Total liabilities as of March 31, 2025, were $166,678,000, down from $171,863,000 at the end of 2024, a decrease of 3.0%[21] - Cash and cash equivalents decreased to $147,338,000 as of March 31, 2025, from $161,925,000 as of December 31, 2024, a decline of 9.0%[20] - The company’s total stockholders' equity decreased to $102,972,000 as of March 31, 2025, from $109,382,000 at the end of 2024, a decrease of 5.8%[22] - Current portion of long-term debt increased significantly to $20,000,000 as of March 31, 2025, compared to $5,688,000 at the end of 2024, an increase of 251.5%[21] - The company's total debt as of March 31, 2025, was $54.844 million, down from $56.063 million as of December 31, 2024[65] Cash Flow - The company reported a net cash used in operating activities of $7.127 million for Q1 2025, an increase from $5.790 million in Q1 2024[31] - Net cash used in investing activities was $0.7 million for the three months ended March 31, 2025, compared to $0.6 million in 2024, primarily due to increased purchases of property and equipment[140] - Net cash used in financing activities increased to $6.7 million in the first quarter of 2025 from $2.0 million in 2024, mainly due to higher tax distributions of $4.4 million[141] Shareholder Activities - The company repurchased 102,460 shares of common stock during the period, which is a strategic move to manage equity and enhance shareholder value[28] - The average price paid per share for the repurchases was $1.56, with the highest being $1.84 and the lowest at $1.47[165] - The Board of Directors approved a share repurchase program authorizing up to $20.0 million of Class A common stock purchases, effective until December 8, 2026[165] Revenue Recognition - The company recognized $17.6 million of revenue that was previously deferred as of December 31, 2024, compared to $16.2 million for the same period in 2024[54] - As of March 31, 2025, total deferred revenue was $23.1 million, an increase from $18.9 million as of December 31, 2024[53] Market and Economic Conditions - The current inflationary environment and changes in macro-level consumer spending trends have negatively impacted sales and could further affect operating results[106] - Net sales for the three months ended March 31, 2025, decreased by $3.5 million, or 3.5%, compared to the same period in 2024, primarily due to a 14.2% decrease in Average Order Value (AOV) despite a 12.4% increase in order volumes[111] Internal Controls and Compliance - The company has identified a material weakness in internal controls related to information technology general controls, which could impact financial reporting[155] - The company intends to remediate the identified material weakness through various measures, including hiring a director of ITGC and enhancing training and access management procedures[157]

Company Overview - Brilliant Earth (NASDAQ: BRLT) operates in the premium jewelry sector, specializing in ethically sourced diamonds and gemstones used in jewelry [1] - The stock has experienced a decline of 29% year-to-date and 43% over the past year [1] Investment Strategy - The investment approach focuses on value and deep value, with interests in sectors such as financial services (regional banks and insurance), retail, software/technology, and waste management stocks [1] - A concentrated portfolio strategy is employed, concentrating on a few key companies with a deep understanding of industry trends, competitors, and management [1] - Emphasis is placed on valuation, integrating qualitative aspects of the company into a supportive valuation narrative [1] Educational Background and Goals - The educational background includes a specialization in Accounting and a minor in Economics from Wilfrid Laurier University [1] - The current goal includes obtaining a CPA designation and seeking second opinions on investment ideas while inspiring readers to think differently about investing [1]

SAN FRANCISCO, May 08, 2025 (GLOBE NEWSWIRE) -- Brilliant Earth Group, Inc. (“Brilliant Earth” or the “Company”) (NASDAQ: BRLT), an innovative, global leader in ethically sourced fine jewelry, today announced that the Company will participate in the B. Riley Securities 25th Annual Investor Conference being held at the Ritz-Carlton, Marina Del Rey in Marina Del Rey, California. Management will meet with investors throughout the day on May 21 - 22, 2025. About Brilliant Earth Brilliant Earth is an industry-di ...

Brilliant Earth Group (BRLT) Q1 2025 Earnings Call May 06, 2025 08:30 AM ET Speaker0 Good day and thank you for standing by. Welcome to the Brilliant Earth First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there'll be a question and answer session. To ask a question during the session, you'll need to press 11 on your telephone. You will then hear an automated message advising your hand is raised. Please be a ...

First Quarter 2025 Financial Results Forward-Looking Statements This Presentation and statements to be made on the earnings conference call (collectively, the "Presentation"), contain forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All ...

"We're pleased with our first quarter performance, which demonstrates the continued strength and resilience of our business model as we delivered our 15th consecutive quarter of profitability as a public company. Our business is gaining momentum, evidenced by our 12% year-over-year growth in total orders, particularly strong performance in fine jewelry, and continued expansion of our showroom footprint," said Beth Gerstein, Co-Founder and Chief Executive Officer of Brilliant Earth. "The positive engagement ...

Delivered Net Sales and Profitability within Guidance RangeDrove 12% Y/Y Growth in Total Orders and 13% Y/Y Growth in Repeat OrdersQ1 2025 GAAP Diluted EPS of $(0.03) and Adjusted Diluted EPS of $0.00Reiterates Annual Guidance and Provides Q2 Outlook SAN FRANCISCO, May 06, 2025 (GLOBE NEWSWIRE) -- Brilliant Earth Group, Inc. (“Brilliant Earth” or the “Company”) (Nasdaq: BRLT), an innovative, global leader in ethically sourced fine jewelry, today announced financial results for the three months ended March 3 ...

SAN FRANCISCO, April 15, 2025 (GLOBE NEWSWIRE) -- Brilliant Earth Group, Inc. (“Brilliant Earth” or the “Company”) (NASDAQ: BRLT), an innovative, global leader in ethically sourced fine jewelry, today announced that it will report first quarter 2025 earnings results before the market opens on Tuesday, May 6, 2025. The Company will host an investor conference call and webcast to review these financial results and business outlook at 8:30am ET/5:30am PT on the same day. The webcast can be accessed at https:// ...

SAN FRANCISCO, April 15, 2025 (GLOBE NEWSWIRE) -- Brilliant Earth Group, Inc. ("Brilliant Earth" or the "Company") (NASDAQ:BRLT), an innovative, global leader in ethically sourced fine jewelry, today announced that it will report first quarter 2025 earnings results before the market opens on Tuesday, May 6, 2025. The Company will host an investor conference call and webcast to review these financial results and business outlook at 8:30am ET/5:30am PT on the same day. The webcast can be accessed at https://i ...

SAN FRANCISCO, March 25, 2025 (GLOBE NEWSWIRE) -- Brilliant Earth Group, Inc. (“Brilliant Earth” or the “Company”) (NASDAQ: BRLT), an innovative, global leader in ethically sourced fine jewelry, today announced that the Company will participate in the JP Morgan Retail Round Up Conference in New York, New York. Management will meet with investors throughout the day on April 2, 2025. About Brilliant Earth Brilliant Earth is an industry-disrupting global leader in ethically sourced fine jewelry. The Company's ...