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BRLT

Brilliant Earth Group, Inc.

BRLT

Brilliant Earth Group, Inc. • NASDAQ
$1.84 ▼ -1.08% (-0.02)
Market Cap $117.63 M
52w High $3.10
52w Low $1.25
Dividend Yield 0.25%
P/E -61.33
Volume 22.62K
Outstanding Shares 63.93M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $110.252M ▲ $64.071M ▼ $-107K ▲ -0.097% ▲ $-0.006 ▲ $1.396M ▼
Q2-2025 $108.936M ▲ $64.717M ▲ $-166K ▲ -0.152% ▲ $-0.011 ▲ $1.673M ▲
Q1-2025 $93.884M ▼ $58.565M ▼ $-466K ▼ -0.496% ▼ $-0.033 ▼ $-633K ▼
Q4-2024 $119.525M ▲ $68.839M ▲ $358K ▼ 0.3% ▼ $0.027 ▲ $5.235M ▲
Q3-2024 $99.873M $61.839M $1.367B 1.368K% $-0.011 $1.797M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $73.429M ▼ $202.966M ▼ $123.912M ▼ $11.979M ▼
Q2-2025 $133.615M ▼ $260.875M ▼ $158.193M ▼ $15.281M ▲
Q1-2025 $147.338M ▼ $269.65M ▼ $166.678M ▼ $14.928M ▼
Q4-2024 $161.925M ▲ $281.245M ▲ $171.863M ▲ $15.329M ▲
Q3-2024 $152.653M $273.246M $168.891M $14.469M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-107K ▲ $608K ▼ $-611K ▲ $-60.055M ▼ $-60.058M ▼ $-3K ▼
Q2-2025 $-1.113M ▼ $9.07M ▲ $-1.155M ▼ $-21.636M ▼ $-13.721M ▲ $7.915M ▲
Q1-2025 $-466K ▼ $-7.127M ▼ $-727K ▲ $-6.732M ▼ $-14.586M ▼ $-7.854M ▼
Q4-2024 $2.627M ▲ $14.091M ▲ $-2.177M ▼ $-2.641M ▼ $9.273M ▲ $11.914M ▲
Q3-2024 $-1.075M $1.985M $-1.311M $-229K $445K $674K

Five-Year Company Overview

Income Statement

Income Statement Brilliant Earth shows a pattern of steady, but not explosive, revenue growth that has recently flattened out. Profitability is thin: gross profit has improved as the brand has scaled, but operating profit and net profit hover around break-even. This suggests the core business model can generate healthy markups on products, but overheads like marketing, showrooms, and corporate costs absorb most of that value. Earnings per share are positive but small, indicating the company is still in an early, investment-heavy stage rather than a mature, highly profitable phase.

Balance Sheet

Balance Sheet The balance sheet is relatively light and simple. Total assets have grown steadily, driven largely by a strong cash position rather than heavy investments in property or equipment. Debt exists but does not dominate the structure, while equity has recently turned positive after previously being negative, reflecting gradual balance sheet strengthening. Overall, Brilliant Earth looks conservatively capitalized for a young consumer brand, but the equity base is still slim, which leaves less cushion if results weaken.

Cash Flow

Cash Flow Cash generation is a relative bright spot. The company has consistently produced positive cash from operations, even while reported accounting profits are close to break-even. Free cash flow is also positive, supported by modest capital spending needs due to its asset-light, digital-first model. This pattern suggests the business converts revenue into cash reasonably well, and does not currently require heavy ongoing investment to maintain or grow its operations.

Competitive Edge

Competitive Edge Brilliant Earth occupies a distinct niche in the jewelry market by combining ethical sourcing, sustainability, and a strong online experience. Its brand is closely tied to conflict-free and recycled materials, resonating especially with younger, values-driven customers. High customer satisfaction and loyalty scores indicate meaningful brand trust. The omnichannel model—online customization supported by intimate showrooms—differentiates it from both traditional mall jewelers and pure e-commerce players. Risks include dependence on a relatively narrow demographic focus, the discretionary nature of jewelry spending, and potential imitation of its sustainability messaging by larger competitors.

Innovation and R&D

Innovation and R&D Innovation is a core part of the company’s identity, even if it does not label it as traditional R&D. It uses blockchain to trace diamonds, virtual try-on tools to ease online purchasing, and data analytics to manage inventory and personalize marketing. The asset-light, largely virtual inventory model is itself an operational innovation in a historically inventory-heavy industry. Looking ahead, the company is investing in new showroom formats, broader fine jewelry offerings, and ambitious sustainability targets, including cleaner supply chains and long-term emissions goals. These initiatives deepen its differentiation but also require ongoing investment and execution discipline.

Summary

Brilliant Earth is a young, mission-driven jewelry brand with a clear ethical and digital-first identity. Financially, it shows steady revenue, improving gross profitability, and consistent positive cash flow, but only marginal accounting profits and a still-thin equity base. Strategically, its strengths lie in brand trust, appeal to Millennial and Gen Z customers, and a modern omnichannel model supported by technology and sustainability commitments. Key uncertainties include its ability to scale profits in a cyclical, highly competitive luxury market and to maintain its ethical edge as others adopt similar messaging. Overall, it appears to be in a transition phase from promising niche player to attempting more durable, scalable profitability, with both meaningful opportunities and execution risks ahead.

NEWS

November 24, 2025 · 4:05 PM UTC

Brilliant Earth Announces Participation in Upcoming December Investor Conferences

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November 13, 2025 · 5:03 PM UTC

Brilliant Earth Announces Participation in Upcoming November Investor Conferences

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November 5, 2025 · 6:45 AM UTC

Brilliant Earth Reports Strong Q3 Results Exceeding High End of Net Sales Guidance and 17th Consecutive Quarter of Positive Adjusted EBITDA

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October 16, 2025 · 4:05 PM UTC

Brilliant Earth to Report Third Quarter 2025 Financial Results on November 5th

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September 23, 2025 · 9:00 AM UTC

Brilliant Earth and Dr. Jane Goodall Unite for Transformative Second Jewelry Collection: A Testament to Legacy, Peace, and Stewardship

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