What is Brilliant Earth Group's operating income?

Brilliant Earth Group's total operating income in 2025 was -$5.38 million, based on the following breakdown: Total Gross Profit: $251.50 million Total Operating Expenses: $256.88 million

Brilliant Earth Group (BRLT) Financials

$1.14 +0.02 (+1.79%)

Closing price 07/24/2026 04:00 PM Eastern

Extended Trading

$1.20 +0.07 (+5.70%)

As of 07/24/2026 07:34 PM Eastern

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Annual Income Statements for Brilliant Earth Group

This table shows Brilliant Earth Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-7.78	22	1.53	2.14	0.58	0.54	-3.64
Consolidated Net Income / (Loss)	-7.78	22	26	19	4.73	3.99	-6.40
Net Income / (Loss) Continuing Operations	-7.78	22	26	19	4.73	3.99	-6.40
Total Pre-Tax Income	-7.78	22	26	19	4.30	4.15	3.24
Total Operating Income	-5.40	27	40	23	4.48	3.35	-5.38
Total Gross Profit	85	112	187	234	257	254	252
Total Revenue	201	252	380	440	446	422	437
Operating Revenue	201	252	380	440	446	422	437
Total Cost of Revenue	116	140	193	206	189	168	186
Operating Cost of Revenue	116	140	193	206	189	168	186
Total Operating Expenses	90	86	147	211	253	251	257
Selling, General & Admin Expense	90	86	147	211	133	143	151
Marketing Expense	-	-	-	-	119	108	106
Total Other Income / (Expense), net	-2.38	-5.02	-14	-4.47	-0.18	0.80	8.62
Interest Expense	2.26	4.94	7.59	5.28	5.13	5.03	2.86
Other Income / (Expense), net	-0.13	-0.07	-6.60	0.81	4.95	5.84	11
Income Tax Expense	0.00	0.00	-0.32	-0.17	-0.43	0.16	9.64
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	0.00	25	17	4.15	3.45	-2.77
Basic Earnings per Share	$0.00	$0.00	$0.00	$0.20	$0.05	$0.04	($0.25)
Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	10.69M	11.93M	13.30M	14.75M
Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.15	$0.04	$0.03	($0.25)
Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	96.51M	97.06M	98.35M	14.75M
Weighted Average Basic & Diluted Shares Outstanding	-	-	95.01M	96.18M	97.86M	99.39M	101.11M

This table shows Brilliant Earth Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	0.25	0.24	0.14	0.19	-0.14	0.36	-0.47	-0.17	-0.11	-2.90	-1.51
Consolidated Net Income / (Loss)	2.00	1.94	1.07	1.38	-1.08	2.63	-3.27	-1.11	-0.67	-1.35	-8.45
Net Income / (Loss) Continuing Operations	2.00	1.94	1.07	1.38	-1.08	2.63	-3.27	-1.11	-0.67	-1.35	-8.45
Total Pre-Tax Income	2.09	1.39	1.14	1.31	-0.86	2.57	-3.40	-0.97	-0.63	8.24	-8.45
Total Operating Income	2.01	1.20	0.88	1.13	-1.07	2.41	-3.52	-1.21	-0.62	-0.02	-8.88
Total Gross Profit	67	73	58	64	61	71	55	64	63	70	54
Total Revenue	114	124	97	105	100	120	94	109	110	124	100
Operating Revenue	114	124	97	105	100	120	94	109	110	124	100
Total Cost of Revenue	47	51	39	41	39	48	39	45	47	55	45
Operating Cost of Revenue	47	51	39	41	39	48	39	45	47	55	45
Total Operating Expenses	65	72	57	63	62	69	59	65	64	70	63
Selling, General & Admin Expense	65	-48	34	36	35	-40	36	38	38	39	39
Marketing Expense	-	-	23	27	27	-	23	26	26	31	24
Total Other Income / (Expense), net	0.08	0.19	0.26	0.18	0.21	0.16	0.13	0.24	-0.01	8.26	0.43
Interest Expense	1.32	1.32	1.21	1.29	1.32	1.20	1.12	0.90	0.85	-	0.00
Other Income / (Expense), net	1.40	1.51	1.48	1.47	1.53	1.36	1.24	1.14	0.84	8.26	0.43
Income Tax Expense	0.10	-0.55	0.07	-0.06	0.21	-0.06	-0.13	0.14	0.04	9.59	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	1.75	1.70	0.93	1.19	-0.93	2.27	-2.80	-0.95	-0.57	1.55	-6.94
Basic Earnings per Share	$0.02	$0.02	$0.01	$0.01	($0.01)	$0.03	($0.03)	($0.01)	($0.01)	($0.20)	($0.10)
Weighted Average Basic Shares Outstanding	12.15M	11.93M	12.74M	13.18M	13.55M	13.30M	14.11M	14.55M	14.99M	14.75M	15.81M
Diluted Earnings per Share	$0.02	$0.01	$0.01	$0.01	($0.01)	$0.02	($0.03)	($0.01)	($0.01)	($0.20)	($0.10)
Weighted Average Diluted Shares Outstanding	97.19M	97.06M	97.85M	98.23M	13.55M	98.35M	14.11M	14.55M	14.99M	14.75M	15.81M
Weighted Average Basic & Diluted Shares Outstanding	97.09M	97.86M	97.87M	98.32M	98.55M	99.39M	99.31M	99.75M	100.11M	101.11M	101.20M

This table details how cash moves in and out of Brilliant Earth Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	22	26	107	-18	1.17	6.12	-83
Net Cash From Operating Activities	0.57	27	46	15	26	18	9.72
Net Cash From Continuing Operating Activities	0.57	27	46	15	26	18	9.72
Net Income / (Loss) Continuing Operations	-7.78	22	26	19	4.73	3.99	-6.40
Consolidated Net Income / (Loss)	-7.78	22	26	19	4.73	3.99	-6.40
Depreciation Expense	0.62	0.65	0.86	1.92	4.20	5.31	6.11
Amortization Expense	0.29	1.12	1.72	0.59	0.27	0.29	0.18
Non-Cash Adjustments To Reconcile Net Income	0.04	0.05	9.13	13	15	15	8.18
Changes in Operating Assets and Liabilities, net	7.39	3.33	8.12	-20	2.37	-7.49	1.65
Net Cash From Investing Activities	-0.68	-0.58	-5.61	-9.12	-12	-4.91	-3.97
Net Cash From Continuing Investing Activities	-0.68	-0.58	-5.61	-9.12	-12	-4.91	-3.97
Purchase of Property, Plant & Equipment	-0.68	-0.58	-5.61	-9.12	-12	-4.91	-3.97
Net Cash From Financing Activities	23	-0.26	66	-24	-13	-6.57	-88
Net Cash From Continuing Financing Activities	23	-0.26	66	-24	-13	-6.57	-88
Repayment of Debt	-12	-2.92	0.00	-68	-3.25	-4.16	-56
Repurchase of Common Equity	-	0.00	0.00	-	0.00	-0.64	-0.46
Payment of Dividends	0.00	0.00	-21	-18	-9.85	-1.77	-32
Cash Interest Paid	1.80	3.72	5.89	3.83	5.15	4.88	2.15
Cash Income Taxes Paid	-	0.00	0.00	0.18	0.07	0.00	0.00

This table details how cash moves in and out of Brilliant Earth Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-2.47	8.68	-8.35	4.76	0.45	9.27	-15	-14	-60	5.66	-21
Net Cash From Operating Activities	4.64	11	-5.79	7.31	1.99	14	-7.13	9.07	0.61	7.17	-19
Net Cash From Continuing Operating Activities	4.64	11	-5.79	7.31	1.99	14	-7.13	9.07	0.61	7.17	-19
Net Income / (Loss) Continuing Operations	2.00	1.94	1.07	1.38	-1.08	2.63	-3.27	-1.11	-0.67	-1.35	-8.45
Consolidated Net Income / (Loss)	2.00	1.94	1.07	1.38	-1.08	2.63	-3.27	-1.11	-0.67	-1.35	-8.45
Depreciation Expense	1.11	1.20	1.20	1.30	1.34	1.47	1.49	1.54	1.55	1.53	1.62
Amortization Expense	0.07	0.07	0.07	0.07	0.08	0.07	0.07	0.08	0.03	-	0.00
Non-Cash Adjustments To Reconcile Net Income	3.69	3.70	3.87	3.84	3.65	4.13	3.93	3.94	4.47	-4.16	3.28
Changes in Operating Assets and Liabilities, net	-2.22	3.79	-12	0.72	-2.01	5.79	-9.35	4.62	-4.77	11	-15
Net Cash From Investing Activities	-1.57	-1.22	-0.56	-0.86	-1.31	-2.18	-0.73	-1.16	-0.61	-1.47	-0.56
Net Cash From Continuing Investing Activities	-1.57	-1.22	-0.56	-0.86	-1.31	-2.18	-0.73	-1.16	-0.61	-1.47	-0.56
Purchase of Property, Plant & Equipment	-1.57	-1.22	-0.56	-0.86	-1.31	-2.18	-0.73	-1.16	-0.61	-1.47	-0.56
Net Cash From Financing Activities	-5.55	-0.81	-2.00	-1.70	-0.23	-2.64	-6.73	-22	-60	-0.03	-1.40
Net Cash From Continuing Financing Activities	-5.55	-0.81	-2.00	-1.70	-0.23	-2.64	-6.73	-22	-60	-0.03	-1.40
Repayment of Debt	-0.81	-0.81	-0.91	-0.81	-	-2.44	-1.22	-20	-35	-	0.00
Repurchase of Common Equity	-	-	-0.10	-0.16	-0.18	-0.20	-0.16	-0.20	-0.10	-	0.00
Payment of Dividends	-4.73	0.01	-0.99	-0.73	-0.05	-0.00	-5.35	-1.31	-25	-0.03	-1.40

This table presents Brilliant Earth Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	85	218	263	274	281	201
Total Current Assets	83	206	206	205	211	145
Cash & Equivalents	66	173	155	156	162	79
Restricted Cash	0.21	0.21	0.21	0.21	0.22	0.35
Inventories, net	14	25	39	38	38	53
Prepaid Expenses	2.94	8.18	12	11	11	12
Plant, Property, & Equipment, net	1.99	6.73	17	22	22	20
Total Noncurrent Assets	0.26	5.01	40	47	48	37
Other Noncurrent Operating Assets	0.26	0.60	31	37	39	37
Total Liabilities & Shareholders' Equity	85	218	263	274	281	201
Total Liabilities	104	135	169	176	172	121
Total Current Liabilities	39	93	75	77	78	90
Accounts Payable	11	14	11	17	16	25
Accrued Expenses	17	29	38	31	32	36
Current Deferred Revenue	11	19	19	20	19	23
Other Current Liabilities	-	0.00	3.87	4.99	6.11	6.90
Total Noncurrent Liabilities	66	42	95	99	94	31
Other Noncurrent Operating Liabilities	2.70	2.98	29	36	36	31
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	0.00	83	93	97	109	80
Total Preferred & Common Equity	0.00	8.40	11	13	15	12
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-85	8.40	11	13	15	12
Common Stock	-85	6.88	7.27	8.29	11	16
Retained Earnings	0.00	1.53	3.66	4.25	4.79	-2.64
Treasury Stock	-	-	-	0.00	-0.64	-1.09
Noncontrolling Interest	0.00	74	82	85	94	67

This table presents Brilliant Earth Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	266	268	273	273	270	261	203	183
Total Current Assets	196	198	202	203	198	191	136	127
Cash & Equivalents	147	147	152	153	147	134	73	59
Restricted Cash	0.21	0.21	0.21	0.22	0.22	0.22	0.35	0.13
Inventories, net	37	39	38	39	40	47	49	54
Prepaid Expenses	11	11	11	11	11	10	13	14
Plant, Property, & Equipment, net	22	22	21	22	21	21	20	19
Total Noncurrent Assets	47	49	50	49	50	49	47	37
Other Noncurrent Operating Assets	38	39	41	39	41	39	38	37
Total Liabilities & Shareholders' Equity	266	268	273	273	270	261	203	183
Total Liabilities	172	168	170	169	167	158	124	112
Total Current Liabilities	71	69	70	72	87	115	83	80
Accounts Payable	4.11	2.47	2.35	2.20	13	21	21	22
Accrued Expenses	35	34	36	36	24	29	29	27
Current Deferred Revenue	23	23	21	22	23	24	26	25
Other Current Liabilities	4.87	5.37	5.71	5.93	6.74	6.97	7.10	6.91
Total Noncurrent Liabilities	101	100	100	96	80	43	41	32
Other Noncurrent Operating Liabilities	37	37	39	37	37	35	33	32
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	93	100	103	104	103	103	79	71
Total Preferred & Common Equity	12	13	14	14	15	15	12	11
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	12	13	14	14	15	15	12	11
Common Stock	7.80	8.99	9.75	10	11	12	13	17
Retained Earnings	4.00	4.39	4.57	4.43	4.32	4.16	0.26	-4.15
Treasury Stock	-	-	-	-0.44	-0.80	-1.00	-1.09	-1.09
Noncontrolling Interest	82	87	89	90	88	87	67	60

This table displays calculated financial ratios and metrics derived from Brilliant Earth Group's official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	0.00	9,583,332.00	95,497,016.00	97,086,932.00	-	100,112,531.00
DEI Adjusted Shares Outstanding	0.00	0.00	9,583,332.00	95,497,016.00	97,086,932.00	-	100,112,531.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	0.16	0.02	0.01	-	-0.04
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	25.07%	50.98%	15.70%	1.48%	-5.43%	3.63%
EBITDA Growth	0.00%	713.96%	27.65%	-26.20%	-47.83%	6.39%	-16.26%
EBIT Growth	0.00%	580.31%	26.44%	-28.03%	-60.92%	-2.61%	-33.63%
NOPAT Growth	0.00%	804.14%	52.75%	-42.06%	-79.05%	-34.68%	229.59%
Net Income Growth	0.00%	377.40%	21.69%	-27.54%	-75.12%	-15.63%	-260.24%
EPS Growth	0.00%	0.00%	0.00%	0.00%	-73.33%	-25.00%	-933.33%
Operating Cash Flow Growth	0.00%	4,613.05%	72.43%	-68.52%	80.71%	-32.88%	-44.77%
Free Cash Flow Firm Growth	0.00%	0.00%	-11.98%	-109.37%	217.96%	-72.13%	886.43%
Invested Capital Growth	0.00%	0.00%	-14.24%	103.75%	7.31%	174.16%	-93.23%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	-0.51%	1.07%	-1.13%	1.13%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-19.12%	-19.42%	9.85%	56.23%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-20.67%	-29.13%	13.02%	274.45%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-22.00%	-49.74%	35.72%	614.79%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-21.54%	-47.28%	20.74%	-163.92%
EPS Q/Q Growth	0.00%	0.00%	0.00%	36.36%	-42.86%	50.00%	-733.33%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	1.60%	-31.82%	24.82%	23.87%	-41.61%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	375.17%	295.75%	497.64%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	119.72%	-83.53%	-69.31%	-96.23%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	42.18%	44.60%	49.30%	53.26%	57.57%	60.26%	57.49%
EBITDA Margin	-2.29%	11.23%	9.50%	6.06%	3.11%	3.50%	2.83%
Operating Margin	-2.68%	10.56%	10.56%	5.30%	1.00%	0.79%	-1.23%
EBIT Margin	-2.74%	10.53%	8.82%	5.49%	2.11%	2.18%	1.39%
Profit (Net Income) Margin	-3.86%	8.57%	6.91%	4.33%	1.06%	0.95%	-1.46%
Tax Burden Percent	100.00%	100.00%	101.22%	100.89%	110.02%	96.15%	-197.47%
Interest Burden Percent	140.88%	81.36%	77.37%	78.14%	45.63%	45.23%	53.17%
Effective Tax Rate	0.00%	0.00%	-1.22%	-0.89%	-10.02%	3.85%	297.47%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	476.19%	160.61%	676.61%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	476.40%	159.84%	694.92%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	-471.22%	-156.74%	-683.38%
Return on Equity (ROE)	0.00%	32.53%	35.20%	21.62%	4.97%	3.86%	-6.77%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	-412.23%	469.14%	67.51%	851.24%
Operating Return on Assets (OROA)	0.00%	31.12%	22.14%	10.05%	3.52%	3.31%	2.53%
Return on Assets (ROA)	0.00%	25.32%	17.33%	7.92%	1.77%	1.44%	-2.65%
Return on Common Equity (ROCE)	0.00%	-41.88%	-18.17%	2.38%	0.61%	0.52%	-0.99%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	312.46%	174.08%	37.78%	26.06%	0.00%
Net Operating Profit after Tax (NOPAT)	-3.78	27	41	24	4.93	3.22	11
NOPAT Margin	-1.88%	10.56%	10.68%	5.35%	1.10%	0.76%	2.43%
Net Nonoperating Expense Percent (NNEP)	0.00%	-11.19%	-14.42%	-4.47%	-0.21%	0.76%	-18.31%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	3.14%	1.95%	13.33%
Cost of Revenue to Revenue	57.82%	55.40%	50.70%	46.74%	42.43%	39.74%	42.51%
SG&A Expenses to Revenue	44.86%	34.04%	38.74%	47.96%	29.83%	33.81%	34.50%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	44.86%	34.04%	38.74%	47.96%	56.57%	59.47%	58.72%
Earnings before Interest and Taxes (EBIT)	-5.52	27	34	24	9.43	9.19	6.10
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-4.61	28	36	27	14	15	12
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	20.60	37.66	28.82	13.50	14.24
Price to Tangible Book Value (P/TBV)	0.00	0.00	20.60	37.66	28.82	13.50	14.24
Price to Revenue (P/Rev)	0.50	0.40	0.46	0.94	0.81	0.49	0.40
Price to Earnings (P/E)	0.00	4.63	113.27	192.78	618.43	382.55	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	14.29%
Earnings Yield	0.00%	21.58%	0.88%	0.52%	0.16%	0.26%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	402.06	326.22	66.20	819.57
Enterprise Value to Revenue (EV/Rev)	0.00	0.64	0.36	0.91	0.78	0.46	0.37
Enterprise Value to EBITDA (EV/EBITDA)	0.00	5.73	3.82	15.07	25.16	13.16	13.17
Enterprise Value to EBIT (EV/EBIT)	0.00	6.11	4.12	16.64	37.08	21.18	26.75
Enterprise Value to NOPAT (EV/NOPAT)	0.00	6.09	3.40	17.07	70.92	60.41	15.36
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	6.06	3.00	27.69	13.34	11.06	16.78
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	3.25	3.14	0.00	71.99	143.70	12.21
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.94	0.77	0.67	0.61	0.51	0.00
Long-Term Debt to Equity	0.00	0.94	0.40	0.64	0.57	0.46	0.00
Financial Leverage	0.00	-1.35	-1.34	-1.15	-0.99	-0.98	-0.98
Leverage Ratio	0.00	1.28	2.03	2.73	2.81	2.68	2.55
Compound Leverage Factor	0.00	1.05	1.57	2.13	1.28	1.21	1.36
Debt to Total Capital	0.00%	48.40%	43.42%	40.24%	37.96%	33.74%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	21.03%	2.09%	2.59%	3.45%	0.00%
Long-Term Debt to Total Capital	0.00%	48.40%	22.39%	38.15%	35.38%	30.29%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	51.60%	50.84%	52.75%	54.06%	56.97%	84.55%
Common Equity to Total Capital	0.00%	-66.44%	5.74%	7.01%	7.98%	9.29%	15.45%
Debt to EBITDA	0.00	2.20	1.76	2.35	4.29	3.77	0.00
Net Debt to EBITDA	0.00	-0.15	-3.03	-3.46	-6.93	-7.20	0.00
Long-Term Debt to EBITDA	0.00	2.20	0.91	2.23	4.00	3.38	0.00
Debt to NOPAT	0.00	2.34	1.57	2.66	12.09	17.29	0.00
Net Debt to NOPAT	0.00	-0.16	-2.70	-3.92	-19.55	-33.05	0.00
Long-Term Debt to NOPAT	0.00	2.34	0.81	2.53	11.27	15.53	0.00
Altman Z-Score	0.00	5.18	3.66	4.06	3.56	2.92	3.45
Noncontrolling Interest Sharing Ratio	0.00%	228.75%	151.62%	89.01%	87.69%	86.53%	85.38%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	2.14	2.22	2.76	2.66	2.70	1.61
Quick Ratio	0.00	1.71	1.86	2.07	2.02	2.07	0.88
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	50	44	-4.12	4.86	1.35	13
Operating Cash Flow to CapEx	83.63%	4,575.86%	821.94%	158.99%	219.47%	358.57%	245.03%
Free Cash Flow to Firm to Interest Expense	0.00	10.10	5.79	-0.78	0.95	0.27	4.68
Operating Cash Flow to Interest Expense	0.25	5.41	6.07	2.75	5.11	3.50	3.40
Operating Cash Flow Less CapEx to Interest Expense	-0.05	5.29	5.33	1.02	2.78	2.52	2.01
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	2.96	2.51	1.83	1.67	1.52	1.81
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	10.29	10.07	6.42	4.91	4.41	4.06
Fixed Asset Turnover	0.00	126.80	87.22	37.78	23.13	19.33	21.21
Accounts Payable Turnover	0.00	12.90	15.24	16.12	13.42	10.19	9.18
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	35.47	36.26	56.88	74.32	82.77	89.82
Days Payable Outstanding (DPO)	0.00	28.29	23.95	22.65	27.20	35.82	39.78
Cash Conversion Cycle (CCC)	0.00	7.18	12.31	34.23	47.11	46.94	50.04
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	-23	-27	1.00	1.07	2.94	0.20
Invested Capital Turnover	0.00	-21.59	-15.21	-34.29	431.08	210.50	278.83
Increase / (Decrease) in Invested Capital	0.00	-23	-3.32	28	0.07	1.87	-2.74
Enterprise Value (EV)	0.00	162	138	402	350	195	163
Market Capitalization	100	100	173	412	361	207	175
Book Value per Share	$0.00	($10.25)	$0.88	$0.11	$0.13	$0.16	$0.12
Tangible Book Value per Share	$0.00	($10.25)	$0.88	$0.11	$0.13	$0.16	$0.12
Total Capital	0.00	129	146	156	157	165	80
Total Debt	0.00	62	64	63	60	56	0.00
Total Long-Term Debt	0.00	62	33	59	56	50	0.00
Net Debt	0.00	-4.26	-109	-92	-96	-106	-79
Capital Expenditures (CapEx)	0.68	0.58	5.61	9.12	12	4.91	3.97
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-22	-29	-20	-24	-23	-25
Debt-free Net Working Capital (DFNWC)	0.00	44	144	135	132	139	55
Net Working Capital (NWC)	0.00	44	113	131	128	133	55
Net Nonoperating Expense (NNE)	4.00	5.02	14	4.51	0.20	-0.77	17
Net Nonoperating Obligations (NNO)	0.00	-90	-109	-92	-96	-106	-79
Total Depreciation and Amortization (D&A)	0.91	1.77	2.58	2.51	4.47	5.60	6.29
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-8.82%	-7.66%	-4.59%	-5.39%	-5.50%	-5.67%
Debt-free Net Working Capital to Revenue	0.00%	17.58%	37.86%	30.61%	29.56%	32.91%	12.49%
Net Working Capital to Revenue	0.00%	17.58%	29.76%	29.87%	28.65%	31.56%	12.49%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.20	$0.05	$0.04	($0.25)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	10.69M	11.93M	13.30M	14.75M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.15	$0.04	$0.03	($0.25)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	96.51M	97.06M	98.35M	14.75M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	95.01M	96.18M	97.86M	99.39M	101.11M
Normalized Net Operating Profit after Tax (NOPAT)	-3.78	19	28	16	3.14	3.22	-3.76
Normalized NOPAT Margin	-1.88%	7.39%	7.39%	3.71%	0.70%	0.76%	-0.86%
Pre Tax Income Margin	-3.86%	8.57%	6.82%	4.29%	0.96%	0.98%	0.74%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	-2.45	5.37	4.42	4.57	1.84	1.83	2.14
NOPAT to Interest Expense	-1.67	5.38	5.35	4.46	0.96	0.64	3.72
EBIT Less CapEx to Interest Expense	-2.75	5.25	3.68	2.85	-0.49	0.85	0.75
NOPAT Less CapEx to Interest Expense	-1.97	5.26	4.61	2.73	-1.37	-0.34	2.33
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	81.66%	96.27%	208.15%	44.22%	-496.95%
Augmented Payout Ratio	0.00%	0.00%	81.66%	96.27%	208.15%	60.19%	-504.08%

This table displays calculated financial ratios and metrics derived from Brilliant Earth Group's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	96,776,299.00	97,086,932.00	97,860,447.00	97,870,039.00	98,315,844.00	-	99,388,888.00	99,314,202.00	99,753,099.00	100,112,531.00	101,105,310.00
DEI Adjusted Shares Outstanding	96,776,299.00	97,086,932.00	97,860,447.00	97,870,039.00	98,315,844.00	-	99,388,888.00	99,314,202.00	99,753,099.00	100,112,531.00	101,105,310.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00	-0.03	-0.01
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.47%	3.94%	-0.37%	-4.32%	-12.51%	-3.88%	-3.55%	3.33%	10.39%	4.09%	5.99%
EBITDA Growth	-36.70%	-45.68%	104.74%	11.89%	-59.20%	33.30%	-119.99%	-61.13%	-4.06%	83.97%	-843.17%
EBIT Growth	-48.85%	-58.84%	212.62%	2.12%	-86.65%	39.03%	-196.98%	-102.88%	-52.41%	118.55%	-270.26%
NOPAT Growth	-68.54%	-74.85%	1,402.92%	-10.22%	-138.92%	47.65%	-400.44%	-171.63%	42.00%	-99.87%	-152.09%
Net Income Growth	-65.06%	-68.62%	342.50%	11.34%	-153.80%	35.34%	-406.19%	-180.95%	37.49%	-151.31%	-158.74%
EPS Growth	-60.00%	-75.00%	0.00%	0.00%	-150.00%	100.00%	-400.00%	-200.00%	0.00%	-1,100.00%	-233.33%
Operating Cash Flow Growth	12.01%	95.01%	-192.13%	-43.13%	-57.26%	31.69%	-23.09%	24.09%	-69.37%	-49.14%	-163.67%
Free Cash Flow Firm Growth	42.86%	107.61%	96.53%	84.53%	60.50%	-62.39%	-43.08%	283.68%	201.30%	356.26%	-534.45%
Invested Capital Growth	228.50%	7.31%	19.64%	71.46%	47.08%	174.16%	-9.62%	-61.04%	-44.88%	-93.23%	27.34%
Revenue Q/Q Growth	3.60%	8.93%	-21.72%	8.31%	-5.27%	19.68%	-21.45%	16.03%	1.21%	12.84%	-20.02%
EBITDA Q/Q Growth	28.91%	-13.21%	-8.94%	9.82%	-52.99%	183.55%	-113.66%	313.52%	16.02%	443.71%	-170.03%
EBIT Q/Q Growth	33.82%	-20.61%	-13.17%	10.71%	-82.50%	726.54%	-160.57%	96.71%	389.33%	3,695.85%	-202.62%
NOPAT Q/Q Growth	45.60%	-13.05%	-50.90%	44.42%	-163.12%	429.85%	-199.91%	65.57%	48.89%	100.75%	-190,038.89%
Net Income Q/Q Growth	61.78%	-2.85%	-45.03%	28.87%	-178.18%	344.37%	-224.36%	65.93%	39.62%	-100.60%	-527.08%
EPS Q/Q Growth	100.00%	-50.00%	0.00%	0.00%	-200.00%	300.00%	-250.00%	66.67%	0.00%	-1,900.00%	50.00%
Operating Cash Flow Q/Q Growth	-63.87%	130.40%	-154.11%	226.23%	-72.84%	609.87%	-150.58%	227.26%	-93.30%	1,078.78%	-362.20%
Free Cash Flow Firm Q/Q Growth	37.35%	116.56%	-161.56%	-142.29%	-59.92%	115.77%	-334.19%	411.05%	-11.80%	-28.99%	-425.66%
Invested Capital Q/Q Growth	30.30%	-83.53%	925.84%	-22.11%	11.78%	-69.31%	238.18%	-66.43%	58.17%	-96.23%	6,259.80%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	58.54%	58.71%	59.90%	60.78%	60.85%	59.61%	58.63%	58.29%	57.55%	55.87%	54.34%
EBITDA Margin	4.02%	3.20%	3.73%	3.78%	1.87%	4.44%	-0.77%	1.42%	1.63%	7.85%	-6.87%
Operating Margin	1.76%	0.96%	0.90%	1.07%	-1.07%	2.02%	-3.75%	-1.11%	-0.56%	-0.02%	-8.93%
EBIT Margin	2.99%	2.18%	2.42%	2.47%	0.46%	3.15%	-2.43%	-0.07%	0.20%	6.62%	-8.50%
Profit (Net Income) Margin	1.75%	1.56%	1.10%	1.30%	-1.08%	2.20%	-3.48%	-1.02%	-0.61%	-1.08%	-8.50%
Tax Burden Percent	95.46%	139.54%	93.60%	104.72%	124.42%	102.42%	96.14%	114.74%	107.01%	-16.37%	100.00%
Interest Burden Percent	61.29%	51.31%	48.43%	50.38%	-189.47%	68.06%	148.84%	1,293.33%	-289.40%	100.00%	100.00%
Effective Tax Rate	4.54%	-39.54%	6.40%	-4.72%	0.00%	-2.42%	0.00%	0.00%	0.00%	116.37%	0.00%
Return on Invested Capital (ROIC)	1,030.27%	579.54%	37.26%	73.17%	-39.78%	434.70%	-105.07%	-55.30%	-22.93%	0.73%	-245.04%
ROIC Less NNEP Spread (ROIC-NNEP)	1,030.19%	579.25%	36.98%	72.96%	-39.42%	434.54%	-104.19%	-55.02%	-22.65%	2.19%	-242.09%
Return on Net Nonoperating Assets (RNNOA)	-1,021.83%	-572.96%	-33.11%	-67.93%	36.21%	-426.11%	93.43%	51.84%	20.81%	-2.15%	210.71%
Return on Equity (ROE)	8.44%	6.58%	4.15%	5.24%	-3.57%	8.58%	-11.63%	-3.46%	-2.12%	-1.42%	-34.33%
Cash Return on Invested Capital (CROIC)	-27.12%	469.14%	39.26%	30.11%	-8.60%	67.51%	3.09%	47.93%	30.09%	851.24%	-90.56%
Operating Return on Assets (OROA)	5.10%	3.63%	4.07%	4.00%	0.72%	4.80%	-3.79%	-0.11%	0.36%	12.01%	-16.62%
Return on Assets (ROA)	2.98%	2.60%	1.84%	2.11%	-1.71%	3.34%	-5.42%	-1.62%	-1.11%	-1.97%	-16.62%
Return on Common Equity (ROCE)	1.02%	0.81%	0.53%	0.69%	-0.47%	1.16%	-1.62%	-0.49%	-0.31%	-0.21%	-5.19%
Return on Equity Simple (ROE_SIMPLE)	76.06%	0.00%	47.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	1.92	1.67	0.82	1.19	-0.75	2.47	-2.47	-0.85	-0.43	0.00	-6.22
NOPAT Margin	1.68%	1.34%	0.84%	1.12%	-0.75%	2.07%	-2.63%	-0.78%	-0.39%	0.00%	-6.25%
Net Nonoperating Expense Percent (NNEP)	0.09%	0.29%	0.28%	0.21%	-0.36%	0.16%	-0.88%	-0.27%	-0.28%	-1.45%	-2.95%
Return On Investment Capital (ROIC_SIMPLE)	-	1.06%	0.52%	0.74%	-0.46%	1.50%	-1.57%	-0.62%	-0.55%	0.00%	-8.71%
Cost of Revenue to Revenue	41.46%	41.29%	40.10%	39.22%	39.15%	40.39%	41.37%	41.71%	42.45%	44.13%	45.66%
SG&A Expenses to Revenue	56.78%	-38.22%	35.27%	33.77%	35.21%	-33.05%	37.92%	35.29%	34.41%	31.29%	39.62%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	56.78%	57.75%	59.00%	59.71%	61.92%	57.59%	62.38%	59.41%	58.11%	55.88%	63.26%
Earnings before Interest and Taxes (EBIT)	3.42	2.71	2.35	2.61	0.46	3.77	-2.28	-0.08	0.22	8.24	-8.45
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	4.59	3.98	3.63	3.98	1.87	5.31	-0.73	1.55	1.80	9.77	-6.84
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	24.18	28.82	22.04	15.45	12.93	13.50	9.36	8.94	17.24	14.24	11.79
Price to Tangible Book Value (P/TBV)	24.18	28.82	22.04	15.45	12.93	13.50	9.36	8.94	17.24	14.24	11.79
Price to Revenue (P/Rev)	0.65	0.81	0.66	0.49	0.44	0.49	0.33	0.32	0.48	0.40	0.30
Price to Earnings (P/E)	271.90	618.43	377.55	267.58	439.26	382.55	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	12.08%	14.29%	18.80%
Earnings Yield	0.37%	0.16%	0.26%	0.37%	0.23%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	43.04	326.22	26.40	24.72	19.03	66.20	13.55	37.34	37.85	819.57	10.72
Enterprise Value to Revenue (EV/Rev)	0.63	0.78	0.65	0.48	0.43	0.46	0.32	0.30	0.46	0.37	0.31
Enterprise Value to EBITDA (EV/EBITDA)	16.24	25.16	18.43	13.09	13.54	13.16	12.90	15.57	25.20	13.17	21.64
Enterprise Value to EBIT (EV/EBIT)	21.06	37.08	26.32	19.10	22.42	21.18	29.61	66.75	122.72	26.75	0.00
Enterprise Value to NOPAT (EV/NOPAT)	28.56	70.92	50.34	37.74	76.78	60.41	0.00	0.00	0.00	15.36	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	13.34	13.34	12.96	12.56	12.83	11.06	8.28	6.92	12.01	16.78	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	71.99	73.26	103.74	0.00	143.70	416.94	43.69	89.40	12.21	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.65	0.61	0.59	0.56	0.56	0.51	0.53	0.34	0.00	0.00	0.00
Long-Term Debt to Equity	0.61	0.57	0.54	0.52	0.49	0.46	0.34	0.00	0.00	0.00	0.00
Financial Leverage	-0.99	-0.99	-0.90	-0.93	-0.92	-0.98	-0.90	-0.94	-0.92	-0.98	-0.87
Leverage Ratio	2.91	2.81	2.74	2.78	2.72	2.68	2.65	2.59	2.60	2.55	2.60
Compound Leverage Factor	1.78	1.44	1.33	1.40	-5.16	1.83	3.95	33.55	-7.51	2.55	2.60
Debt to Total Capital	39.26%	37.96%	37.06%	36.05%	35.76%	33.74%	34.62%	25.14%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	2.38%	2.59%	2.82%	3.03%	4.00%	3.45%	12.70%	25.14%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	36.89%	35.38%	34.25%	33.02%	31.76%	30.29%	21.92%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	53.06%	54.06%	54.57%	55.21%	55.33%	56.97%	55.90%	63.72%	84.85%	84.55%	84.01%
Common Equity to Total Capital	7.67%	7.98%	8.37%	8.74%	8.91%	9.29%	9.48%	11.14%	15.15%	15.45%	15.99%
Debt to EBITDA	3.50	4.29	3.73	3.59	4.32	3.77	5.22	4.31	0.00	0.00	0.00
Net Debt to EBITDA	-5.04	-6.93	-5.64	-5.83	-7.04	-7.20	-8.91	-12.41	0.00	0.00	0.00
Long-Term Debt to EBITDA	3.29	4.00	3.45	3.29	3.83	3.38	3.31	0.00	0.00	0.00	0.00
Debt to NOPAT	6.16	12.09	10.20	10.34	24.48	17.29	-74.18	-14.51	0.00	0.00	0.00
Net Debt to NOPAT	-8.86	-19.55	-15.41	-16.82	-39.94	-33.05	126.58	41.80	0.00	0.00	0.00
Long-Term Debt to NOPAT	5.78	11.27	9.42	9.47	21.74	15.53	-46.97	0.00	0.00	0.00	0.00
Altman Z-Score	3.29	3.48	3.34	3.02	2.83	2.86	2.54	2.51	3.45	3.49	3.26
Noncontrolling Interest Sharing Ratio	87.92%	87.69%	87.32%	86.92%	86.72%	86.53%	86.10%	85.73%	85.58%	85.38%	84.89%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.77	2.66	2.88	2.88	2.80	2.70	2.27	1.66	1.64	1.61	1.58
Quick Ratio	2.08	2.02	2.15	2.18	2.11	2.07	1.69	1.16	0.89	0.88	0.73
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-9.65	1.60	-0.98	-2.38	-3.81	0.60	-1.41	4.38	3.86	2.74	-8.93
Operating Cash Flow to CapEx	295.80%	880.66%	-1,030.25%	852.86%	151.41%	647.27%	-980.33%	785.28%	99.51%	486.56%	-3,385.95%
Free Cash Flow to Firm to Interest Expense	-7.30	1.21	-0.81	-1.84	-2.89	0.50	-1.26	4.89	4.57	0.00	0.00
Operating Cash Flow to Interest Expense	3.51	8.11	-4.77	5.65	1.50	11.70	-6.39	10.13	0.72	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	2.33	7.19	-5.23	4.99	0.51	9.90	-7.04	8.84	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.71	1.67	1.68	1.62	1.58	1.52	1.56	1.58	1.82	1.81	1.96
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	4.96	4.91	4.80	4.61	4.51	4.41	4.26	4.01	4.09	4.06	4.09
Fixed Asset Turnover	23.90	23.13	21.27	20.45	19.33	19.33	19.49	20.36	20.74	21.21	22.16
Accounts Payable Turnover	26.44	13.42	34.88	30.22	54.17	10.19	21.14	14.86	15.56	9.18	10.93
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	73.66	74.32	75.98	79.20	80.97	82.77	85.77	91.04	89.20	89.82	89.34
Days Payable Outstanding (DPO)	13.80	27.20	10.46	12.08	6.74	35.82	17.26	24.57	23.45	39.78	33.39
Cash Conversion Cycle (CCC)	59.86	47.11	65.52	67.12	74.23	46.94	68.51	66.48	65.75	50.04	55.95
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	6.51	1.07	11	8.57	9.58	2.94	9.94	3.34	5.28	0.20	13
Invested Capital Turnover	611.73	431.08	44.18	65.07	53.09	210.50	40.00	70.94	58.25	278.83	39.22
Increase / (Decrease) in Invested Capital	12	0.07	1.81	3.57	3.07	1.87	-1.06	-5.23	-4.30	-2.74	2.72
Enterprise Value (EV)	280	350	290	212	182	195	135	125	200	163	136
Market Capitalization	285	361	293	217	187	207	140	137	206	175	134
Book Value per Share	$0.12	$0.13	$0.14	$0.14	$0.15	$0.16	$0.15	$0.15	$0.12	$0.12	$0.11
Tangible Book Value per Share	$0.12	$0.13	$0.14	$0.14	$0.15	$0.16	$0.15	$0.15	$0.12	$0.12	$0.11
Total Capital	154	157	159	161	162	165	157	137	79	80	71
Total Debt	60	60	59	58	58	56	55	34	0.00	0.00	0.00
Total Long-Term Debt	57	56	54	53	52	50	35	0.00	0.00	0.00	0.00
Net Debt	-87	-96	-89	-94	-95	-106	-93	-99	-74	-79	-59
Capital Expenditures (CapEx)	1.57	1.22	0.56	0.86	1.31	2.18	0.73	1.16	0.61	1.47	0.56
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-19	-24	-14	-16	-16	-23	-17	-23	-21	-25	-12
Debt-free Net Working Capital (DFNWC)	129	132	133	136	137	139	131	110	53	55	47
Net Working Capital (NWC)	125	128	129	132	130	133	111	76	53	55	47
Net Nonoperating Expense (NNE)	-0.08	-0.27	-0.25	-0.19	0.33	-0.16	0.80	0.26	0.24	1.35	2.24
Net Nonoperating Obligations (NNO)	-87	-96	-89	-94	-95	-106	-93	-99	-74	-79	-59
Total Depreciation and Amortization (D&A)	1.17	1.27	1.27	1.38	1.42	1.54	1.56	1.62	1.58	1.53	1.62
Debt-free, Cash-free Net Working Capital to Revenue	-4.20%	-5.39%	-3.18%	-3.62%	-3.76%	-5.50%	-4.00%	-5.53%	-4.86%	-5.67%	-2.65%
Debt-free Net Working Capital to Revenue	29.16%	29.56%	29.93%	30.92%	32.04%	32.91%	31.24%	26.16%	12.19%	12.49%	10.59%
Net Working Capital to Revenue	28.33%	28.65%	28.93%	29.82%	30.52%	31.56%	26.46%	17.99%	12.19%	12.49%	10.59%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.02	$0.02	$0.01	$0.01	($0.01)	$0.03	($0.03)	($0.01)	($0.01)	($0.20)	($0.10)
Adjusted Weighted Average Basic Shares Outstanding	12.15M	11.93M	12.74M	13.18M	13.55M	13.30M	14.11M	14.55M	14.99M	14.75M	15.81M
Adjusted Diluted Earnings per Share	$0.02	$0.01	$0.01	$0.01	($0.01)	$0.02	($0.03)	($0.01)	($0.01)	($0.20)	($0.10)
Adjusted Weighted Average Diluted Shares Outstanding	97.19M	97.06M	97.85M	98.23M	13.55M	98.35M	14.11M	14.55M	14.99M	14.75M	15.81M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	97.09M	97.86M	97.87M	98.32M	98.55M	99.39M	99.31M	99.75M	100.11M	101.11M	101.20M
Normalized Net Operating Profit after Tax (NOPAT)	1.92	0.84	0.82	0.79	-0.75	1.69	-2.47	-0.85	-0.43	-0.01	-6.22
Normalized NOPAT Margin	1.68%	0.67%	0.84%	0.75%	-0.75%	1.41%	-2.63%	-0.78%	-0.39%	-0.01%	-6.25%
Pre Tax Income Margin	1.83%	1.12%	1.17%	1.25%	-0.87%	2.15%	-3.62%	-0.89%	-0.57%	6.62%	-8.50%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.58	2.05	1.94	2.02	0.35	3.13	-2.05	-0.08	0.26	0.00	0.00
NOPAT to Interest Expense	1.45	1.27	0.68	0.92	-0.57	2.05	-2.21	-0.95	-0.51	0.00	0.00
EBIT Less CapEx to Interest Expense	1.40	1.13	1.48	1.35	-0.65	1.32	-2.70	-1.37	-0.47	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.27	0.35	0.21	0.25	-1.56	0.24	-2.86	-2.24	-1.24	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	110.05%	208.15%	150.20%	100.91%	53.08%	44.22%	-1,802.06%	-237.27%	-1,310.35%	-496.95%	-240.43%
Augmented Payout Ratio	110.05%	208.15%	151.80%	104.97%	66.32%	60.19%	-2,008.24%	-263.40%	-1,337.40%	-504.08%	-242.96%

Financials Breakdown Chart

Key Financial Trends

Brilliant Earth Group (NASDAQ: BRLT) showed a much weaker first quarter in 2026, with revenue declining, losses widening, and cash flow turning sharply negative compared with the prior quarter. The company is still carrying a sizeable cash balance, but operating performance clearly softened versus both the prior quarter and the same period last year.

The balance sheet remains liquid, with $58.6 million in cash and equivalents at March 31, 2026.
Inventory declined to $54.4 million from $73.4 million at the end of Q3 2025, which may ease working-capital pressure.
Gross profit was still meaningful at $54.1 million, showing the business continues to generate substantial margin dollars despite weak earnings.
The company had no long-term debt and no short-term debt on the Q1 2026 balance sheet, improving financial flexibility.
Capital spending was modest at only $555,000 in Q1 2026, helping limit investing cash outflow.
Revenue was $99.5 million in Q1 2026, down from $124.4 million in Q4 2025 and $108.9 million in Q2 2025.
Gross margin was roughly 54.3% in Q1 2026, slightly below Q4 2025 but still healthy relative to cost of revenue.
Current liabilities were elevated at $80.5 million, largely due to accrued expenses, accounts payable, and deferred revenue.
The company paid $1.4 million in dividends during the quarter, which is a use of cash while earnings remain negative.
BRLT posted a net loss of $8.5 million in Q1 2026, compared with a loss of just $1.3 million in Q4 2025 and $1.1 million in Q2 2025.
Operating income fell to a loss of $8.9 million, driven by $62.9 million in operating expenses against $99.5 million of revenue.
Operating cash flow was deeply negative at $(18.8) million, a sharp deterioration from $7.2 million in Q4 2025.
Net cash declined by $20.7 million during the quarter, reducing the company’s cash cushion.
The biggest operating drag came from changes in operating assets and liabilities, which consumed $15.2 million in cash.

Longer-term trend: BRLT’s results have become more volatile over the last four years. In 2024 and parts of 2025, the company occasionally generated positive operating cash flow and even occasional quarterly profits, but 2025 ended weakly and Q1 2026 marked a clear step back. Revenue is also trending below the levels seen in 2023 and early 2024, while expense control has not been enough to consistently offset that pressure.

Bottom line: Brilliant Earth still has a solid liquidity position and no debt, but the latest quarter shows a business under earnings and cash flow pressure. Investors will likely want to see revenue stabilization, better operating leverage, and a return to positive operating cash flow before the stock’s fundamentals improve meaningfully.

07/26/26 05:00 PM ETAI Generated. May Contain Errors.

Brilliant Earth Group Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Brilliant Earth Group's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Brilliant Earth Group's net income appears to be on a downward trend, with a most recent value of -$6.40 million in 2025, falling from -$7.78 million in 2019. The previous period was $3.99 million in 2024. Find out what analysts predict for Brilliant Earth Group in the coming months.

Brilliant Earth Group's total operating income in 2025 was -$5.38 million, based on the following breakdown:

Total Gross Profit: $251.50 million
Total Operating Expenses: $256.88 million

Over the last 6 years, Brilliant Earth Group's total revenue changed from $201.34 million in 2019 to $437.48 million in 2025, a change of 117.3%.

Brilliant Earth Group's total liabilities were at $121.27 million at the end of 2025, a 29.4% decrease from 2024, and a 16.3% increase since 2020.

In the past 5 years, Brilliant Earth Group's cash and equivalents has ranged from $66.27 million in 2020 to $172.87 million in 2021, and is currently $79.09 million as of their latest financial filing in 2025.

Over the last 6 years, Brilliant Earth Group's book value per share changed from 0.00 in 2019 to 0.12 in 2025, a change of 12.3%.

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Financial statements for NASDAQ:BRLT last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Brilliant Earth Group (BRLT) Financials

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Brilliant Earth Group (BRLT) Financials

Annual Income Statements for Brilliant Earth Group

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Quarterly Balance Sheets for Brilliant Earth Group

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Quarterly Metrics And Ratios for Brilliant Earth Group

Financials Breakdown Chart

Key Financial Trends

Brilliant Earth Group Financials - Frequently Asked Questions

When does Brilliant Earth Group's financial year end?

How has Brilliant Earth Group's net income changed over the last 6 years?

What is Brilliant Earth Group's operating income?

How has Brilliant Earth Group's revenue changed over the last 6 years?

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