BRLT earnings analysis
What we found in BRLT's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Q1 Revenue Growth
- Net sales reached $99.5 million, up 6.0% from $93.9 million in Q1 2025.
- Increased Average Order Value
- Average order value increased by 3.3% to $2,131 due to a mix of higher-priced items.
- Interest Expense Eliminated
- Interest expense decreased to $0 from $1.1 million in Q1 2025 due to loan prepayment.
- Cash Balance Maintained
- Cash balance at the end was $58.6 million despite a decrease, reflecting significant liquidity management.
- Operational Growth Signals
- New showrooms contributed to a 2.5% increase in order volumes, showing effective market expansion.
- Management Outlook Remains Positive
- Management anticipates continued net sales growth in the upcoming quarters, driven by strategic marketing and expansions.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Significant Net Loss
- The company recorded a net loss of $8.5 million, up 158.7% from $3.3 million in Q1 2025.
- 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.
- 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.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.05
- Gross margin
- 54.3%
- Operating margin
- -8.9%
- Segment
- Retail sale of diamonds, gemstones and jewelry
What they said about what is next.
Management projects low-single-digit year-over-year net sales growth in Q2 2026.
The filing reads about the same as the one before it.
What came before.
- 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%)…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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