10-K · March 17, 2026
Brilliant Earth reported full-year net sales of $437.5 million in 2025, up from $422.2 million in 2024, while swinging to a net loss of $6.4 million (net loss margin 1.5%) versus net income of $4.0 million (margin 0.9%)…
Earnings analysis · 10-Q
BRLT earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Brilliant Earth reported Q1 2026 net sales of $99.5 million, a 6.0% increase compared to $93.9 million in Q1 2025, but experienced a notable net loss of $8.5 million, representing a 158.7% increase year-over-year. This…
Read full summary
Brilliant Earth reported Q1 2026 net sales of $99.5 million, a 6.0% increase compared to $93.9 million in Q1 2025, but experienced a notable net loss of $8.5 million, representing a 158.7% increase year-over-year. This quarter marked a strategic focus on expanding fine jewelry sales and improvements in average order value, although the increase in costs for materials pressed gross margins down.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.05
- Segment
- Retail sale of diamonds, gemstones and jewelry
What stood out
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Q1 Revenue Growth
Net sales reached $99.5 million, up 6.0% from $93.9 million in Q1 2025.
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Increased Average Order Value
Average order value increased by 3.3% to $2,131 due to a mix of higher-priced items.
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Interest Expense Eliminated
Interest expense decreased to $0 from $1.1 million in Q1 2025 due to loan prepayment.
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Cash Balance Maintained
Cash balance at the end was $58.6 million despite a decrease, reflecting significant liquidity management.
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Operational Growth Signals
New showrooms contributed to a 2.5% increase in order volumes, showing effective market expansion.
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Management Outlook Remains Positive
Management anticipates continued net sales growth in the upcoming quarters, driven by strategic marketing and expansions.
What to watch
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Significant Net Loss
The company recorded a net loss of $8.5 million, up 158.7% from $3.3 million in Q1 2025.
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Rising Material Costs Impact Margins
Gross margin dropped to 54.3%, a decrease of 430 basis points year-over-year due to higher raw material costs.
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Negative Cash Flow from Operations
Cash used in operating activities increased to $18.8 million from $7.1 million in Q1 2025, reflecting operational challenges.
Management's outlook
Management projects low-single-digit year-over-year net sales growth in Q2 2026.
Earlier filings 4
10-Q · November 8, 2024
Brilliant Earth reported quarterly net sales of $99,873,000 and a gross profit of $60,770,000 for the three months ended September 30, 2024, but swung to a net loss of $1,075,000 (basic EPS $(0.01)) versus net income of…
10-Q · August 9, 2024
Brilliant Earth reported Q2 net sales of $105,426 (in thousands), down from $110,184 in the year‑ago quarter, while gross profit rose slightly to $64,077 (in thousands) producing a gross margin of ~60.8%. Operating…
10-Q · May 10, 2024
Brilliant Earth reported Q1 net sales of $97.337M, essentially flat versus $97.698M a year ago, with gross profit rising to $58.306M (59.9% margin) and operating income turning positive to $0.877M. Diluted EPS was $0.01…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.