SAN FRANCISCO , March 19, 2024 /PRNewswire/ -- Brilliant Earth Group, Inc. (Nasdaq: BRLT), a global leader in ethically sourced fine jewelry, today announced the launch of its 2023 Mission Report, marking another milestone in its commitment to transparency, sustainability, compassion, and inclusivity. Alongside the release of this comprehensive report, Brilliant Earth is also publishing new dedicated pages on its website aimed at providing a detailed look into the Company's mission and ongoing efforts to pr ...

Brilliant Earth Group, Inc. (NASDAQ:BRLT) Q4 2023 Earnings Call Transcript March 14, 2024 5:00 PM ET Company Participants Stefanie Layton - SVP, IR Beth Gerstein - CEO Jeff Kuo - CFO Conference Call Participants Randy Konik - Jefferies Edward Yruma - Piper Sandler Ashley Owens - KeyBanc Capital Markets Dana Telsey - Telsey Advisory Group Operator Good day and thank you for standing by. Welcome to the Brilliant Earth Fourth Quarter and Full Year 2023 Earnings Conference Call. At this time all participants ar ...

Brilliant Earth Reports Fourth Quarter and Fiscal Year 2023 Results • Delivered record net sales of $124.3 million and $446.4 million in the fourth quarter and fiscal year, respectively • Growth rate exceeded the industry by an estimated 750 basis points in 2023 • Achieved a record level of orders in the quarter and year, growing 18% and 17% year-over-year, respectively • Drove 28% year-over-year growth in Q4 product bookings, excluding engagement rings • Expanded gross margin by 400 and 430 basis points to ...

There are some high-end retail stocks for investors to avoid amid the luxury goods segment being tested in 2024. There are some struggling brands that investors should steer clear of due to their declining fundamentals and uncertain growth prospects.The high-end retail stocks discussed in this article fall under the category of uncertainty. If investors own shares in these brands, it may be worth analyzing if one is getting an attractive risk-to-reward payoff and then making changes as desired.So here are t ...

Brilliant Earth Group, Inc. (NASDAQ:BRLT) Q3 2023 Earnings Conference Call November 9, 2023 5:00 PM ET Company Participants Stefanie Layton - SVP, IR Beth Gerstein - CEO Jeff Kuo - CFO Conference Call Participants Oliver Chen - TD Cowen Rick Patel - Raymond James Ashley Owens - KeyBanc Capital Markets Dana Telsey - Telsey Advisory Group Edward Yruma - Piper Sandler Operator Good day and thank you for standing by. Welcome to the Brilliant Earth Third Quarter 2023 Earnings Conference Call. At this time all pa ...

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 statements other than statements of historical facts contained ...

As of September 30, 2023 and December 31, 2022, the Company had $27.7 million and $27.6 million, respectively, in consigned inventory held on behalf of suppliers which is not recorded in the unaudited condensed consolidated balance sheets. Accrued expenses and other current liabilities consist of the following (in thousands): 6. LEASES Total operating lease ROU assets and lease liabilities were as follows (in thousands): | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------| ...

Financial Data and Key Metrics - Q2 revenue was $110.2 million, a 1% increase YoY, with a 23% growth on a 4-year CAGR basis [26] - Gross margin expanded by 450 basis points YoY to 57.6%, driven by brand resonance, proprietary products, price optimization, and procurement efficiencies [26] - Adjusted EBITDA was $7.7 million, representing a 7% margin, exceeding expectations due to strong gross margin performance and disciplined OpEx management [12][26] - Cash position at the end of Q2 was approximately $150 million, an increase of over $3 million compared to Q1 2023 [12] - Full-year 2023 net sales guidance remains $460 million to $490 million, representing 5% to 11% growth YoY [13] - Adjusted EBITDA guidance for 2023 increased to $22 million to $35 million, with a margin of 5% to 7% [14] Business Line Performance - Bridal segment saw double-digit growth in wedding bands, particularly in men's wedding rings, indicating strong brand resonance across genders [28] - Fine jewelry segment demonstrated strong growth, with personalized jewelry and signature offerings performing well [28] - Social media campaigns, including influencer activations, drove significant engagement, with over 1 million views on content featuring Brilliant Earth products [27] - The company expanded its quick-ship assortment with ready-to-ship engagement rings, catering to customer convenience [7] Market Performance - The company opened 4 new showrooms in Q2, bringing the total to 8 year-to-date, with plans to reach at least 35 by year-end [8][29] - Showroom expansion in major metro markets like Los Angeles, Chicago, and Washington, D.C., is yielding strong results [29] - The first indoor mall-based showroom is set to open soon, with expectations of strong ROI and customer engagement [16] Strategic Direction and Industry Competition - The company continues to focus on sustainability, transparency, and inclusivity, launching new collections like the Planet-Fit and Renewable collections to highlight its mission [9] - Investments in technology and systems are enabling growth, with a focus on refining the omnichannel experience [6] - The company is leveraging its asset-light operating model to maintain strong inventory turns and cash flow [10] Management Commentary on Operating Environment and Future Outlook - Management expects higher YoY revenue growth rates in H2 2023, driven by showroom performance and fine jewelry assortment [13] - The company anticipates normalization in bridal growth rates towards the end of 2023, with continued market share gains [52] - Marketing investments are being made to build brand awareness and position the company for success during the holiday season [34] Other Important Information - Stephanie Layton joined as Senior Vice President of Investor Relations, bringing significant experience in ESG and investor relations [30] - The company is testing and learning from its showroom expansion, with a focus on refining and optimizing the customer experience [29] Q&A Session Summary Question: Indoor Mall Showroom Economics and $10,000+ Price Point Trends - The indoor mall showroom is expected to offer compelling economics and drive brand awareness, with customer data supporting the move [16] - The $10,000+ price point continues to see moderation, but growth in the sub-$10,000 range is strong, reflecting the company's ability to meet demand across price points [16] Question: Gross Margin Performance and Long-Term Targets - Q2 gross margin outperformance was driven by brand strength, product differentiation, and price optimization enhancements [18] - H2 gross margins are expected to be in a similar range as H1, with ongoing investments in brand building and cost management [34] Question: Revenue and OpEx Phasing for Q3 and Q4 - Revenue distribution for Q3 and Q4 is expected to be consistent with 2021, with a slight weighting towards Q4 due to showroom openings and fine jewelry performance [62] - OpEx investments in Q3 and Q4 will focus on driving long-term brand awareness and preparing for the holiday season [62] Question: Precious Metals and Diamond Prices Impact on ASP - The company has developed internal capabilities to adjust pricing dynamically based on input costs, leveraging its asset-light model to manage inventory efficiently [42] - ASP moderation is driven by growth in the sub-$10,000 price range and fine jewelry acceleration, with strong performance during the Mother's Day gifting period [42] Question: Marketing Leverage and Long-Term Growth - Marketing investments are focused on driving long-term sustainable growth, with opportunities for leverage as showrooms mature and brand awareness grows [76] - The company is balancing growth investments with profitability, as evidenced by the increased adjusted EBITDA guidance for 2023 [76]

The following table summarizes the net carrying amount of the Term Loans as of June 30, 2023 and December 31, 2022, net of debt issuance costs (in thousands): In connection with the origination of the Runway Term Loan, a warrant for 333,333 Class P Units was issued. The fair value of the warrant was $0.1 million at the time of issuance which was accounted for as a debt origination cost (contra-liability). Table of Contents The SVB Credit Facilities are secured by substantially all assets of Brilliant Earth, ...

Brilliant Earth Group, Inc. (NASDAQ:BRLT) Q1 2023 Earnings Conference Call May 11, 2023 12:00 PM ET Company Participants Allison Malkin - ICR Beth Gerstein - Chief Executive Officer Jeff Kuo - Chief Financial Officer Conference Call Participants Oliver Chen - TD Cowen Dana Telsey - Telsey Advisory Group Noah Zatzkin - KeyBanc Capital Markets Amanda Douglas - J.P. Morgan Edward Yruma - Piper Sandler Randy Konik - Jefferies Rick Patel - Raymond James Oliver Chen - TD Cowen Dylan Carden - William Blair Operato ...