Revenue Performance - Net revenue for the year ended December 31, 2024 decreased by $4.1 million, or 1%, to $391.5 million compared to $395.6 million in 2023[295] - Wholesale channel revenue increased by $20.0 million, or 9%, to $245.0 million, driven by growth in packaged coffee and the launch of Black Rifle Energy[297] - DTC channel revenue decreased by $19.5 million, or 14%, to $123.8 million, primarily due to lower customer acquisition and a strategic reallocation of advertising spend[298] - Outpost channel revenue decreased by $4.7 million, or 17%, to $22.7 million, attributed to lower transaction volumes and reduced foot traffic[299] - For the year ended December 31, 2024, BRC Inc. reported net revenue of $391.49 million, a decrease of 1.43% from $395.62 million in 2023[349] - Total net sales for the year ended December 31, 2024, were $391,490, a slight decrease from $395,623 in 2023, but an increase from $301,313 in 2022[382] - Wholesale revenue increased to $245,040 in 2024 from $225,059 in 2023, while DTC revenue decreased to $123,779 from $143,232 in the same period[382] Cost and Expenses - Cost of goods sold decreased by $39.9 million, or 15%, to $230.3 million, resulting in a gross margin increase to 41% from 32% in the previous year[300] - Total operating expenses decreased by $18.3 million, or 10%, to $157.3 million, reflecting cost management efforts[296] - Marketing and advertising expenses increased by $4.8 million, or 16%, to $35.6 million, indicating continued investment in brand awareness[296] - Salaries, wages, and benefits expenses decreased by $8.6 million, or 12%, to $62.4 million in 2024, due to headcount reductions from the 2023 Restructuring Plan[302] - General and administrative expenses decreased by $20.8 million, or 29%, to $50.8 million in 2024, as a result of the 2023 Restructuring Plan[303] - Other operating expenses increased by $6.3 million, or 285%, to $8.5 million in 2024, related to impairment losses recognized in the fourth quarter[304] Operating Income and Loss - Operating income improved to $3.8 million in 2024 from a loss of $50.2 million in 2023[295] - BRC Inc. incurred a net loss of $7.65 million in 2024, which is a reduction from a net loss of $56.72 million in 2023[349] - The net loss for the year ended December 31, 2024, was $7,649 thousand, a significant improvement compared to a net loss of $56,716 thousand in 2023 and $338,044 thousand in 2022[356] Cash Flow and Investments - Net cash provided by operating activities was $11.3 million in 2024, a $36.3 million improvement from net cash used of $25.0 million in 2023[315] - Net cash used in investing activities decreased by $13.8 million to $7.7 million in 2024, primarily due to reduced capital expenditures[316] - Net cash used in financing activities was $10.7 million in 2024, a decrease of $32.1 million from net cash provided of $21.4 million in 2023[317] Assets and Liabilities - The total current assets decreased to $95.47 million in 2024 from $107.74 million in 2023, primarily due to a decline in cash and cash equivalents[348] - Total liabilities decreased to $177.89 million in 2024 from $189.27 million in 2023, reflecting a reduction in both current and non-current liabilities[348] - The company had $40.0 million outstanding on its Term Loan Facility and $28.9 million on its ABL Facility as of December 31, 2024[335] - The company’s accumulated deficit increased to $123.43 million in 2024 from $120.48 million in 2023, indicating ongoing financial challenges[348] Inventory and Receivables - Inventories decreased from $56,465 million as of December 31, 2023 to $42,647 million as of December 31, 2024, representing a decline of about 24.5%[391] - The allowance for doubtful accounts receivable was $593 million and $496 million as of December 31, 2024 and 2023, respectively, indicating an increase of approximately 19.5% year-over-year[390] - Four customers accounted for 63% of total outstanding receivables as of December 31, 2024, while three customers accounted for 55% as of December 31, 2023, indicating a concentration of credit risk[408] Debt and Financing - The company has a senior secured asset-based revolving credit facility (ABL Facility) with an aggregate principal amount of up to $75,000, available as of December 31, 2024[440] - The Term Loan Facility provided $40,000 in senior secured term loans, with an option to add up to $20,000 under certain conditions[441] - The total principal amount of long-term debt decreased from $76,440 in 2023 to $70,299 in 2024, reflecting a reduction of 8.1%[439] Impairment and Losses - The Company recognized a total impairment loss of $6,100 thousand on certain assets related to BRCC Outposts during the fourth quarter of 2024[428] - The Company recorded a loss on extinguishment of debt of approximately $1,127 due to early retirement of debt[444] Equity and Stock - The Company redeemed 11,396,726 public warrants and 6,266,667 private placement warrants, representing approximately 99.0% and 100.0% of the respective warrants, resulting in the issuance of 6,376,346 shares of Class A Common Stock[459] - The Series A preferred units were redeemed for a total of $134,698,000, which included $8,265,000 of applicable premium placed in an escrow account[465]

Revenue and Growth Projections - Black Rifle Coffee Company's 2024 projected revenue is approximately $392.5 million, with a 37% CAGR from 2019 to 2024[11] - The company's 2024 revenue CAGR is projected at 44.6%, while marketing spend CAGR is only 14.8%[26] - Total revenue grew ~1.7x from 2021 to 2024, with RTD and Energy contributing significantly to wholesale channel growth[42] - Revenue CAGR projected at 10%-15% through 2027, with a target gross margin of 40%+[48] - GAAP Revenue, Net for Q4 2023 was $119.65 million, with Non-GAAP Adjusted Revenue, Net at $124.26 million[58] Profitability and Margins - The company's 2024 adjusted EBITDA margin is expected to be between 40-42%, with a gross margin of around 10%[11] - Adjusted Gross Margin improved to 43.8% in Q4 2023, up from 42.1% in Q1 2023[45] - Gross margin expected to be in the high-30% range in 2025, impacted by slotting fees and green coffee inflation[48] - GAAP Gross Profit for Q4 2023 was $31.67 million, with Non-GAAP Adjusted Gross Profit at $46.94 million[58] - RTD transformation costs impacted Gross Profit by $15.27 million in Q4 2023[58] Direct-to-Consumer (DTC) Business - Black Rifle Coffee has over 190,000 Direct-to-Consumer (DTC) Coffee Club subscribers as of 2024[11] - DTC (Direct-to-Consumer) subscribers reached 190,000+, with an average subscriber order value of ~$30 and projected 2024 DTC net revenue of $120 million+[36] Wholesale and Retail Expansion - The company's Wholesale segment grew from ~1,000 doors in 2020 to 12,000+ by the end of 2023, representing a ~120% CAGR[29] - Ready-to-Drink (RTD) coffee product line expanded from ~10,000 locations in 2020 to 86,000+ locations by the end of 2023, with a ~100% CAGR[29] - Black Rifle Coffee's share of regional retailer coffee sales reached 3.0% in 2024, doubling the number of SKUs on shelves within the first year[31] - Wholesale business growth driven by 12,000+ doors today, with potential to reach 20,000+ doors by 2026[54] - Retail sales growth in packaged coffee from 2023 to 2024 reported at 28.8%[54] - Achieved $100 million+ in revenue at Retailer within ~18 months of launch[55] - ~22% of BRCC sales at Retailer are from new buyers[55] - ~$32 million of BRCC sales are incremental to Retailer[55] - BRCC reached ~3% of total Retailer coffee sales within 4 months[55] - BRCC revenue ramped with distribution gains but has remained consistent with normal seasonal variability[55] Ready-to-Drink (RTD) and Energy Products - RTD coffee business rapidly grew to over $100 million, outpacing the category growth by ~4x[33] - RTD coffee market share increased from 3.4% in Jan 2022 to 5.6% in Jul 2024[33] - RTD coffee ACV (All Commodity Volume) is ~42% today, with potential to grow via additional DSD distribution partnerships[33] - The company entered the $20 billion+ energy market nationwide through a partnership with Keurig Dr. Pepper (KDP), covering 80% of the U.S. population[34] - The RTD Energy partnership provides immediate access to 180,000+ retail outlets via KDP's distribution network[34] - The company expanded its product portfolio to include RTD Energy, with a focus on healthier ingredients and fewer additives, aligning with market trends[35] Marketing and Customer Loyalty - Black Rifle Coffee's social media following across Instagram, X, Facebook, YouTube, and TikTok totals 6.0 million followers[21] - The company's 2024 marketing budget as a percentage of sales is projected to be 2.0%, significantly lower than competitors like Celsius (8.1%) and PepsiCo (9.1%)[26] - Black Rifle Coffee's Net Promoter Score (NPS) is 78, indicating strong customer loyalty[11] Operational Efficiency and Cost Management - Cost savings of over $30 million achieved through SG&A management measures[45] - Productivity improvements in 2024 expected to drive $23 million in savings, contributing to gross margin improvement[47] - Inventory value decreased by $12 million, representing a 21% reduction from December 2023[47] - Transportation costs running ~14% under market rates due to a robust network of reliable and cost-effective transportation companies[47] Strategic Priorities and Partnerships - Strategic priorities include product innovation, adjacent category expansion, and maximizing the KDP partnership to drive future growth[39] - The company entered the $20 billion+ energy market nationwide through a partnership with Keurig Dr. Pepper (KDP), covering 80% of the U.S. population[34] - The RTD Energy partnership provides immediate access to 180,000+ retail outlets via KDP's distribution network[34] Financial Performance and Adjustments - The company achieved six consecutive quarters of positive EBITDA since Q2 2023, with adjusted EBITDA margin improving to 9.6% in FY2024[44] - Adjusted EBITDA for Q4 2023 was $12.15 million[60] - Equity-based compensation added back $1.33 million to Adjusted EBITDA in Q4 2023[60] - EBITDA CAGR projected at 15%-25% through 2027, with anticipated pressure in 2025 due to energy launch[48]

Core Viewpoint - Analysts project that BRC Inc. (BRCC) will report break-even quarterly earnings per share, reflecting a 100% decline year over year, with revenues expected to be $106.06 million, down 11.4% from the same quarter last year [1]. Earnings Estimates - There has been a 75% downward revision in the consensus EPS estimate for the quarter over the last 30 days, indicating a significant reassessment by covering analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock price performance [3]. Revenue Projections - Analysts estimate 'Revenue by Sales Channel- Wholesale' to be $65.80 million, representing a decline of 10.5% year over year [5]. - The 'Revenue by Sales Channel- Outpost' is projected to reach $5.85 million, indicating a year-over-year decrease of 17.1% [5]. - 'Revenue by Sales Channel- Direct to Consumer' is expected to be $34.40 million, reflecting a 12% decline from the prior-year quarter [6]. Stock Performance - BRC INC shares have decreased by 4.8% in the past month, compared to a 2.3% decline in the Zacks S&P 500 composite, with a Zacks Rank of 3 (Hold), suggesting that BRCC is likely to closely follow overall market performance in the near term [7].

Financial Data and Key Metrics Changes - Third quarter revenue declined 2% year-over-year, primarily due to cycling of barter transactions from the prior year and shifting consumer preferences away from direct-to-consumer channels [24] - Adjusted EBITDA for the quarter was $7.1 million, up 15% from the same period last year, with EBITDA margin rising over 10 points to 10.4% [29] - Year-to-date, free cash flow generation improved by $60 million compared to the same period in 2023, driven by better margins and reduced working capital investment [27] Business Line Data and Key Metrics Changes - In the grocery channel, ACV increased 32 points year-over-year and 18 points quarter-over-quarter to 41% [16] - The ready-to-drink category saw a 5-point increase in ACV from the prior year, ending the quarter at 47% [17] - Year-to-date sales in the wholesale segment grew 17% compared to the same period last year, with a 3% revenue growth this quarter in wholesale [25] Market Data and Key Metrics Changes - The energy drink category generates over $20 billion in retail sales, significantly outpacing coffee and ready-to-drink coffee categories [9] - Nielsen data indicated that the coffee category had positive dollar growth in September for the first time in over a year [15] - The ready-to-drink category has slowed, declining 5.1% year-to-date compared to the prior year, but Black Rifle continues to outperform the category by 460 basis points [17] Company Strategy and Development Direction - The company aims to innovate product offerings and expand into new categories like energy, while also focusing on partnerships with well-capitalized operators [14] - The partnership with Keurig Dr. Pepper is expected to enhance distribution efficiency and market penetration in the energy category [10] - The company plans to prioritize growth in the wholesale channel as consumer behavior shifts back to retail purchasing patterns [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the trajectory of top-line growth and expects to gain market share in both coffee and ready-to-drink categories [30] - The company anticipates continued distribution growth in coffee and increased sales of Black Rifle Energy to be key growth drivers in 2025 and 2026 [26] - Management acknowledged challenges in the direct-to-consumer segment but noted stabilization in subscription counts and positive subscriber growth in September [22][63] Other Important Information - The company raised its full-year gross margin guidance to 42% and expects fourth-quarter gross margin to be in the high 30s range [31] - The company will host an investor event on January 14 at the ICR Conference in Orlando to share more details on longer-term goals [34] Q&A Session Summary Question: Update on new retail partners and distribution expectations - Management confirmed that conversations with major retailers are progressing well, with distribution expected to increase in early 2025 [35][36] Question: Clarification on free cash flow guidance - Management indicated that while free cash flow is expected to be robust, higher inventory levels due to K-Cup purchases have adjusted expectations [38] Question: Fourth quarter sales growth drivers - Management noted that despite headwinds, there are enough tailwinds to support a positive sales growth trajectory in Q4 [40][42] Question: Energy drinks ramp-up and margin structure - Management expressed excitement about the energy drink launch and indicated that margins will be below 40% in the first year due to initial costs [49][50] Question: FDM distribution targets and market share - Management reiterated that full distribution is expected by the end of 2026, with ongoing success in gaining market share [72] Question: Coffee category outlook and growth drivers - Management believes that distribution gains and market share will drive growth, even if the overall coffee category remains soft [81]

BRC Inc. (BRCC) reported $98.2 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 2.3%. EPS of -$0.01 for the same period compares to -$0.05 a year ago.The reported revenue represents a surprise of +3.31% over the Zacks Consensus Estimate of $95.06 million. With the consensus EPS estimate being -$0.02, the EPS surprise was +50.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determi ...

Core Viewpoint - BRC Inc. reported a quarterly loss of $0.01 per share, which was better than the Zacks Consensus Estimate of a loss of $0.02, indicating a 50% earnings surprise [1] - The company generated revenues of $98.2 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 3.31%, although this represents a decline from $100.54 million in the same quarter last year [2] Financial Performance - Over the last four quarters, BRC Inc. has exceeded consensus EPS estimates three times [2] - The company has topped consensus revenue estimates two times in the last four quarters [2] - BRC Inc. shares have declined approximately 13.5% year-to-date, contrasting with the S&P 500's gain of 20.1% [3] Future Outlook - The company's future stock performance will largely depend on management's commentary during the earnings call and the earnings outlook [3][4] - Current consensus EPS estimate for the upcoming quarter is $0.01 on revenues of $115.86 million, while for the current fiscal year, the estimate is -$0.02 on revenues of $398.32 million [7] Industry Context - The Consumer Products - Staples industry, to which BRC Inc. belongs, is currently ranked in the bottom 37% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact BRC Inc.'s performance [5]

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, $0.0001 par value BRCC New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fro ...

Exhibit 99.1 BRC Inc. Reports Third Quarter 2024 Financial Results Highlights • Wholesale revenue grew 3.5% compared to Q3 2023 while consolidated net revenue decreased 2.3% in Q3 2024 to $98.2 million. • Adjusted EBITDA of $7.1 million and Net Loss of $1.4 million, an increase of $0.9 million compared to Adjusted EBITDA of $6.2 million in Q3 2023 and an improvement of $9.3 million from Net Loss of $10.7 million in Q3 2023. • Increased midpoint guidance for Gross Margin and adjusted EBITDA, while narrowing ...

The Phase 2 double-blind placebo-controlled clinical trial will evaluate the potential of RJx-01 to maintain muscle integrity in older persons with severe acute exacerbation of COPD Rejuvenate Biomed anticipates commencing patient enrollment first half 2025 DIEPENBEEK, Belgium and LEICESTER, United Kingdom and LOS ANGELES, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Rejuvenate Biomed, the University of Leicester, the National Institute for Health and Care Research (NIHR) Leicester Biomedical Research Centre (BRC), an ...

Investors looking for stocks in the Security and Safety Services sector might want to consider either Brady (BRC) or Allegion (ALLE) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look. We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estim ...