SAN FRANCISCO, April 15, 2025 (GLOBE NEWSWIRE) -- Brilliant Earth Group, Inc. (“Brilliant Earth” or the “Company”) (NASDAQ: BRLT), an innovative, global leader in ethically sourced fine jewelry, today announced that it will report first quarter 2025 earnings results before the market opens on Tuesday, May 6, 2025. The Company will host an investor conference call and webcast to review these financial results and business outlook at 8:30am ET/5:30am PT on the same day. The webcast can be accessed at https:// ...

SAN FRANCISCO, April 15, 2025 (GLOBE NEWSWIRE) -- Brilliant Earth Group, Inc. ("Brilliant Earth" or the "Company") (NASDAQ:BRLT), an innovative, global leader in ethically sourced fine jewelry, today announced that it will report first quarter 2025 earnings results before the market opens on Tuesday, May 6, 2025. The Company will host an investor conference call and webcast to review these financial results and business outlook at 8:30am ET/5:30am PT on the same day. The webcast can be accessed at https://i ...

SAN FRANCISCO, March 25, 2025 (GLOBE NEWSWIRE) -- Brilliant Earth Group, Inc. (“Brilliant Earth” or the “Company”) (NASDAQ: BRLT), an innovative, global leader in ethically sourced fine jewelry, today announced that the Company will participate in the JP Morgan Retail Round Up Conference in New York, New York. Management will meet with investors throughout the day on April 2, 2025. About Brilliant Earth Brilliant Earth is an industry-disrupting global leader in ethically sourced fine jewelry. The Company's ...

Company Overview - Brilliant Earth Group, Inc. is a global leader in ethically sourced fine jewelry, founded in 2005 with a mission to create a more transparent, sustainable, and compassionate jewelry industry [3] - The company reported full-year net sales of $422 million for 2024 and has achieved positive Adjusted EBITDA for 14 consecutive quarters since going public in 2021 [3] - Brilliant Earth operates 40 showrooms across the United States and serves customers in over 50 countries worldwide [3] Upcoming Events - The company will participate in the Sidoti Small Cap Conference virtually from March 19 to 20, 2025, with a presentation scheduled for 1:00 PM ET on March 20 [1] - A live webcast of the presentation will be available on the company's investor website, with an archived replay accessible for one year following the event [2]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-40836 Brilliant Earth Group, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of i ...

Financial Data and Key Metrics Changes - Q4 net sales were $119.5 million, representing a 4% decline year-over-year, while full-year net sales reached $422.2 million, a 5% decline year-over-year [7][30] - Total orders grew by 10% year-over-year in Q4 and 7% year-over-year for the full year, with repeat orders increasing by 18% in Q4 and 17% for the full year [8][30] - Gross margin expanded by 90 basis points year-over-year in Q4 to 59.6%, and for the full year, it was 60.3%, a 270 basis point increase [9][32] - Adjusted EBITDA for Q4 was $6.9 million, with a 5.8% margin, significantly exceeding guidance, while full-year adjusted EBITDA was $21.1 million, or a 5% margin [11][33] Business Line Data and Key Metrics Changes - Engagement rings showed improved year-over-year unit comps in Q4, with strong performance in price ranges under $5,000 [13][14] - The fine jewelry segment recorded strong double-digit bookings growth in Q4, contributing 27% of total bookings, a 600 basis point increase year-over-year [17][21] - The company launched the Flawless Collection, which has performed strongly, indicating customer trust in the brand [15] Market Data and Key Metrics Changes - The company opened new showroom locations in New York City and Boston, enhancing its physical presence and customer engagement [20] - The fine jewelry assortment saw significant growth, particularly during the holiday season, indicating strong consumer demand [18][21] Company Strategy and Development Direction - The company aims to drive sustainable long-term growth by enhancing the omnichannel experience, offering premium products, and investing in brand amplification [23][24] - Plans for 2025 include expanding showroom locations and continuing to innovate in product design and marketing strategies [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong repeat order growth and effective marketing strategies [22][23] - The company anticipates a slight decline in Q1 net sales year-over-year but expects overall growth for the full year [26][27] Other Important Information - The company ended Q4 with approximately $162 million in cash, reflecting a year-over-year increase, and a net cash position of approximately $106 million [39][40] - The company plans to continue stock repurchases strategically while balancing overall investment decisions [41][42] Q&A Session Summary Question: Gross margin guidance for 2025 - Management expects a high-50s gross margin for 2025, driven by brand strength and procurement efficiencies [48][49] Question: Strategies for driving repeat orders and attracting new customers - The company focuses on strong customer experience and compelling product assortments to drive repeat orders, while also optimizing marketing spend to attract new customers [51][56] Question: Engagement trends and average order value - Management noted improvements in engagement ring trends and expects average order value to moderate due to growth in fine jewelry, which typically has a lower average order value [63][67] Question: Margin profile of physical showroom rollouts - The company is strategically investing in physical locations while maintaining a strong digital presence, focusing on exceptional customer experiences [71][72] Question: Demographic shifts and attachment rates between fine jewelry and engagement - Management indicated that they have not seen significant demographic shifts but are pleased with the repeat purchases in fine jewelry, which contribute to overall growth [92][94] Question: Cadence of sales growth and operating profile - The company expects back-half weighted growth for the year, driven by showroom growth and favorable comparisons to previous quarters [98][99]

Core Insights - Brilliant Earth Group, Inc. released its 2024 Mission Report, emphasizing its commitment to transparency, sustainability, compassion, and inclusivity, reinforcing its leadership in the ethically sourced fine jewelry industry [1][3] Sustainability - Launched the Jane Goodall Collection, with 10% of proceeds supporting the Jane Goodall Institute, utilizing repurposed gold and lab diamonds made from captured CO2 [2][3] - Achieved validation of net-zero emission reduction targets by the Science Based Targets initiative (SBTi) within a year [2][3] - Received the 2024 Reuters Sustainability Trailblazer Award for leadership in sustainability and innovation [3] - Implemented energy-efficient practices in new showrooms, sourcing carbon-free energy and avoiding 96 metric tons of CO2 emissions [3] Transparency - Confirmed 99% of gold as repurposed, a 3% increase from 2023, and expanded Fairmined Gold Collection, leading to a 364% increase in Fairmined purchases [3] - Launched the Flawless Collection, focusing on ethical sourcing and high-quality diamonds [3] - Joined Originalluxury to enhance collaboration on transparency and traceability in the jewelry industry [3] Compassion - Committed $300,000 over three years to establish the Gem Legacy Gem Faceting School in Tanzania, supporting local mining communities [3][5] - Funded a meal program for Kitarini Primary School in Tanzania, serving 372,800 meals and significantly improving attendance and exam passing rates [5] Inclusion - Recognized as a Great Place to Work in 2024 and a five-time winner of Built In's Best Places to Work [5] - Set goals for 2025 to ensure 100% of gold and silver is repurposed or Fairmined, and 50% of lab diamond inventory is processed using renewable energy [5] Financial Performance - Reported full-year net sales of $422 million in 2024 and positive Adjusted EBITDA for 14 consecutive quarters since going public in 2021 [4]

Financial Performance - Delivered Q4 2024 Net Sales of $119.5 million, achieving the high end of guidance, and full year Net Sales of $422.2 million[5] - Generated Q4 2024 GAAP Net Income of $2.6 million, a 35.3% increase from $1.9 million in Q4 2023, and full year Net Income of $4.0 million[5] - Net sales for the year ended December 31, 2024, were $422.161 million, a decrease of 5.4% from $446.382 million in 2023[23] - Net income for 2024 was $3.994 million, compared to $4.734 million in 2023, indicating a decline of 15.6%[23] - Basic earnings per share for 2024 were $0.04, down from $0.05 in 2023, while diluted earnings per share decreased from $0.04 to $0.03[23] - The company reported a net income margin of 0.9% for 2024, compared to 1.1% in 2023[27] Growth Metrics - Total orders grew by 10% year-over-year in Q4 and 7% for the fiscal year 2024, with repeat orders increasing by 18% in Q4 and 17% for the year[5] - Expanded Gross Margin by 90 basis points to 59.6% in Q4 and by 270 basis points to 60.3% for the fiscal year compared to prior year periods[5] - Achieved Adjusted EBITDA of $6.9 million in Q4 2024, a 31.1% increase from $5.3 million in Q4 2023, and $21.1 million for the fiscal year[5] - Adjusted EBITDA for the year ended December 31, 2024, was $21.118 million, down from $26.182 million in 2023, reflecting a margin of 5.0%[27] Cash and Assets - Ended fiscal year 2024 with $106 million in net cash, the highest position since 2021[5] - Total assets increased to $281.245 million in 2024 from $273.583 million in 2023, reflecting a growth of 2.4%[24] - Total liabilities decreased to $171.863 million in 2024 from $176.127 million in 2023, a reduction of 2.4%[24] - Cash and cash equivalents increased to $161.925 million in 2024, up from $155.809 million in 2023, showing a growth of 3.6%[24] Strategic Initiatives - Expanded retail showroom portfolio to 40 locations, including new showrooms in Boston Seaport and Nolita, New York City[5] - Focus on product innovation, brand amplification, and customer experience to drive sustainable growth in the future[3] - The company plans to continue expanding its market presence and introducing new products to enhance customer engagement and sales growth[20] Taxation and Contributions - Brilliant Earth Group, Inc. is subject to U.S. Federal income taxes, in addition to state and local taxes on its allocable share of any net taxable income of Brilliant Earth, LLC[32] - Acquisition of LLC units by Brilliant Earth Group, Inc. causes all of the taxable income currently recognized by the members of Brilliant Earth, LLC to become taxable to the Company[32] - For the year ended December 31, 2023, costs included a $1 million charitable contribution[32]

Core Insights - Brilliant Earth Group, Inc. reported strong financial results for Q4 2024, achieving net sales at the high end of guidance and a 10% year-over-year growth in total orders [1][3] - The company exceeded profitability expectations, increasing Q4 2024 gross margin by 90 basis points year-over-year to 59.6% [1][4] - For Q4 2024, GAAP diluted EPS was $0.02 and adjusted diluted EPS was $0.04, indicating stable earnings performance [1][6] Q4 2024 Financial Highlights - Total orders reached 58,357, up 10.2% from 52,935 in Q4 2023 [4] - Average order value (AOV) decreased by 12.8% to $2,048 from $2,349 in Q4 2023 [4] - Net sales for Q4 2024 were $119.5 million, a decline of 3.9% from $124.3 million in Q4 2023 [4] - Gross profit was $71.2 million, down 2.5% from $73.0 million in Q4 2023 [4] - Net income for Q4 2024 was $2.6 million, a 35.3% increase from $1.9 million in Q4 2023 [4] Fiscal Year 2024 Overview - Total orders for FY 2024 were 186,030, a 6.6% increase from 174,576 in FY 2023 [7] - Net sales for FY 2024 were $422.2 million, down 5.4% from $446.4 million in FY 2023 [7] - Gross margin improved to 60.3%, up 270 basis points from 57.6% in FY 2023 [7] - Adjusted net income for FY 2024 was $11.8 million, a decrease of 27.2% from $16.2 million in FY 2023 [7] Strategic Developments - The company opened new retail showrooms, expanding its portfolio to 40 locations, including a new showroom in Boston Seaport and its first street-level location in New York City [5] - Brilliant Earth ended FY 2024 with $106 million in net cash, marking its highest net cash position since 2021 [5] 2025 Guidance - For Q1 2025, the company expects adjusted EBITDA to be between $0 to $1.5 million [9] - Full-year net sales are projected to be between $93.5 million and $95.5 million, reflecting a year-over-year growth of 1% to 3% [9]

Company Overview - Brilliant Earth Group, Inc. is a global leader in ethically sourced fine jewelry, aiming to create a more transparent, sustainable, and compassionate jewelry industry since its founding in 2005 [2] - The company operates with a premium brand and a curated proprietary product assortment, offering a seamless omnichannel shopping experience [2] - Brilliant Earth has reported net sales of $427 million for the twelve months ended September 30, 2024, and has achieved positive adjusted EBITDA in every quarter since going public in 2021 [2] Recent Developments - The company will participate in the UBS Global Consumer and Retail Conference on March 13, 2025, in New York, where management will meet with investors [1]