Iconic Candy Inspires Collection of Cocktail Rings Featuring Colored GemstonesSAN FRANCISCO, Dec. 08, 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 the launch of an exclusive collection in partnership with Ring Pop®, the iconic candy brand from Bazooka Brands™, that has defined playground proposals and childhood memories for generations. Released today, this limited-edi ...

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Core Viewpoint - Puma's shares have surged following reports that Anta Sports Products is exploring a potential takeover of the German sports company, indicating strong interest from Asian firms in acquiring Puma [2][3]. Company Overview - Puma has been refocusing its activities on key sports categories, particularly soccer, under the leadership of new CEO Arthur Hoeld [10]. - The company has faced challenges in generating consumer enthusiasm for its product ranges in recent years [10]. Market Activity - Puma's shares increased nearly 15% in early Frankfurt trading, although they remain down over 50% year-to-date [3]. - The market value of Puma prior to the takeover rumors was approximately $2.9 billion [5]. Potential Bidders - Anta Sports, which has a market capitalization of around $31 billion and owns brands like Fila and Jack Wolfskin, is reportedly working with an adviser to evaluate a bid for Puma [3][8]. - Other potential bidders include Chinese rival Li Ning Co. and Japan's Asics Corp. [3]. Financial Context - Anta's previous acquisition of Amer Sports for $5.2 billion in 2019 demonstrates its capability to finance large transactions [4]. - Anta's strong cash position and free cash flow generation suggest it can manage the financial aspects of a potential acquisition [8]. Strategic Implications - Acquiring Puma would allow Anta to expand its footprint in competitive markets like North America and EMEA [7]. - Anta's strategy involves buying scale while preserving brand autonomy, as seen in its handling of Fila China and Amer Sports [8]. Future Outlook - Puma aims to return to growth by 2027 and re-establish itself as a top three sports brand globally, which includes plans to cut 900 jobs and sharpen its focus on running, soccer, and training [11].

Core Insights - Brilliant Earth Group, Inc. is a global leader in ethically sourced fine jewelry and will participate in upcoming investor events [1][2][3] Group 1: Upcoming Investor Events - On December 3, 2025, the Company will participate in NobleCon21, hosting a presentation at 1:00pm ET and holding investor meetings throughout the day [2] - On December 11, 2025, the Company will participate in the KeyBanc Capital Markets Consumer Conference virtually, with a fireside chat at 11:15am ET and additional investor meetings [3] Group 2: Company Overview - Brilliant Earth was founded in 2005 with a mission to create a more transparent, sustainable, and compassionate jewelry industry [4] - The Company reported full year Net Sales of $422 million for 2024 and has achieved positive Adjusted EBITDA for 17 consecutive quarters since going public in 2021 [4] - Brilliant Earth operates 42 showrooms across the United States and serves customers in over 50 countries worldwide [4]

Core Insights - Brilliant Earth Group, Inc. is a global leader in ethically sourced fine jewelry, participating in investor events to enhance engagement with stakeholders [1][2][3] Company Participation in Investor Events - The Company will participate in the 14th Annual Roth Technology Conference on November 19, 2025, in New York City, with management holding investor meetings throughout the day [1] - On November 20, 2025, the Company will take part in the 17th Annual Southwest IDEAS Investor Conference in Irving, Texas, featuring a presentation at 2:20 PM ET and additional investor meetings [2] Company Overview - Founded in 2005, Brilliant Earth aims 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 17 consecutive quarters since going public in 2021 [3] - Brilliant Earth operates 42 showrooms across the United States and serves customers in over 50 countries [3]

Financial Performance - Net sales for Q3 2025 reached $110,252,000, a 10.4% increase from $99,873,000 in Q3 2024[22] - The company reported a net loss of $672,000 for Q3 2025, compared to a net loss of $1,075,000 in Q3 2024[22] - For the nine months ended September 30, 2025, the company reported a net loss of $5,052,000 compared to a net income of $1,367,000 for the same period in 2024[29] - The net loss attributable to Brilliant Earth Group, Inc. for the three months ended September 30, 2025, was $(528) thousand, compared to a net loss of $(836) thousand in 2024[49] - Net loss for the three months ended September 30, 2025, was $0.7 million, a decrease of 37.5% compared to a net loss of $1.1 million for the same period in 2024[114] - Adjusted EBITDA for the three months ended September 30, 2025, was $3.6 million, unchanged from the same period in 2024[114] - Adjusted EBITDA for the nine months ended September 30, 2025, was $7.821 million, with an Adjusted EBITDA margin of 2.5%[141] Revenue and Sales - Net sales for the three months ended September 30, 2025, were $110.3 million, an increase of 10.4% compared to $99.9 million for the same period in 2024[114] - Net sales for the nine months ended September 30, 2025, increased by $10.4 million, or 3.4%, compared to the same period in 2024, driven by a 15.9% increase in order volumes[126] - The increase in net sales was driven by a 16.8% rise in order volumes, partially offset by a 5.5% decrease in average order value (AOV)[115] - The average order value (AOV) decreased by 10.7% to $2,116 for the nine months ended September 30, 2025, primarily due to a higher mix of lower price point products[136] Expenses and Liabilities - Operating expenses for the nine months ended September 30, 2025, totaled $187,353,000, up from $182,213,000 in the same period of 2024[22] - Operating expenses for the three months ended September 30, 2025, increased by $2.2 million, or 3.6%, compared to the same period in 2024[120] - Interest expense decreased by $1.0 million, or 79.4%, for the three months ended September 30, 2025, primarily due to the prepayment of $34.8 million under the SVB Term Loan[122] - Interest expense decreased by $1.5 million, or 40.4%, for the nine months ended September 30, 2025, due to principal payments made on the SVB Term Loan[132] - The total accrued expenses and other current liabilities as of September 30, 2025, were $29.3 million, a decrease from $31.7 million at the end of 2024[60] Assets and Equity - Total current assets decreased to $135,651,000 as of September 30, 2025, from $211,413,000 at December 31, 2024, representing a decline of 35.8%[20] - Cash and cash equivalents decreased to $73,429,000 as of September 30, 2025, from $161,925,000 at December 31, 2024, a decline of 54.7%[20] - Stockholders' equity attributable to Brilliant Earth Group, Inc. decreased to $11,979,000 as of September 30, 2025, from $15,329,000 at December 31, 2024[20] - As of September 30, 2025, Brilliant Earth Group, Inc. reported total stockholders' equity of $67,075,000[24] - The company had $15.2 million in consigned inventory held on behalf of suppliers as of September 30, 2025[59] Shareholder Activities - The company repurchased common stock amounting to $58,112,000 during the period[24] - The Board of Directors declared a one-time cash dividend of $0.25 per share, totaling approximately $25.0 million, with $3.8 million paid to Class A common stockholders[145] - The Company repurchased a total of 41,112 shares of Class A common stock in July 2025 at an average price of $1.53 per share, and 17,000 shares in August 2025 at an average price of $1.76 per share[178] - The total value of shares that may yet be purchased under the repurchase program is approximately $18.9 million as of September 30, 2025[178] Market and Strategic Initiatives - The company operates in one segment, focusing on the retail sale of ethically sourced diamonds, gemstones, and jewelry[42] - The company is evaluating the impact of new accounting standards issued by FASB, which may affect future disclosures but not the consolidated financial statements[46][47] - The company plans to continue expanding its showroom presence and enhancing its omnichannel strategy to drive growth[99] - The company is focused on cost-effective customer acquisition and retention strategies to support future growth[98] - The company is in the early stages of international expansion, with plans to localize its website and open new showrooms in overseas markets[102] Tax and Compliance - The Company has recorded a corresponding estimated liability of $7.8 million representing 85% of the projected tax benefits to the Continuing Equity Owners[82] - The Company expects significant cash payments under the Tax Receivable Agreement (TRA), which will reduce overall cash flow available[149] - The total amount of tax distributions to members was $50 million during the third quarter of 2024, indicating ongoing compliance with tax obligations[27] Legal and Risk Factors - The Company intends to vigorously defend against the claims made in the lawsuit filed by a former employee, with any liability currently not probable or reasonably estimable[176] - There have been no material changes to the Company's risk factors as previously disclosed in the 2024 Form 10-K[177] - The Company has stipulated to the filing of an amended complaint in the ongoing lawsuit, which may include class claims[176] Internal Controls and Governance - A material weakness in internal control over financial reporting was identified, related to ineffective IT general controls[168] - The Company plans to raise additional funds if current liquidity is insufficient, which may involve issuing equity securities or debt financing[150]

Financial Data and Key Metrics Changes - Q3 net sales reached $110.3 million, representing a year-over-year increase of 10.4%, exceeding the top end of guidance by approximately 40 basis points [17] - Adjusted EBITDA for Q3 was $3.6 million, with an adjusted EBITDA margin of 3.2%, marking the 17th consecutive quarter of positive adjusted EBITDA [18] - Gross margin for Q3 was 57.6%, within the medium-term target range, but a decline of 320 basis points compared to Q3 last year [18] - Average order value (AOV) was $2,209, reflecting a decline of 5.5% year-over-year but an increase of 6.5% quarter-over-quarter [17] Business Line Data and Key Metrics Changes - Engagement ring bookings returned to growth, marking an inflection point after a multi-year market normalization [9] - Wedding and anniversary band bookings achieved the largest quarter ever, with double-digit year-over-year growth [10] - Fine jewelry bookings grew 45% year-over-year, driven by both unit and average selling price (ASP) growth [11] Market Data and Key Metrics Changes - Total orders grew 17% year-over-year, while repeat orders increased by 16% year-over-year, indicating strong brand resonance [9] - The company noted stabilization in engagement ring average selling prices, with sequential ASP growth in the last two quarters [9] Company Strategy and Development Direction - The company aims to continue capturing market share in the $350 billion jewelry industry, leveraging its asset-light, data-driven business model [5] - Strategic brand investments and celebrity placements have significantly increased brand awareness, generating over 13 billion impressions in Q3 [12] - The company is focused on expanding its showroom footprint and enhancing its omnichannel shopping experience [40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating industry-wide headwinds such as rising metal prices and tariffs, citing a globally diversified supply chain as a competitive advantage [24] - The company raised its full-year net sales guidance to 3-4.5% growth year-over-year, driven by improvements in engagement ring bookings and strong fine jewelry performance [22] - Management anticipates some impact from gold and platinum prices in Q4, which are near all-time highs, and the additional 25% tariff on India [24] Other Important Information - The company ended Q3 with approximately $73 million in cash and has generated approximately $12 million of free cash flow on a trailing 12-month basis [21] - The company has no debt on its balance sheet and has spent approximately $1.1 million on stock repurchases to date [22] Q&A Session Summary Question: Sustainability of engagement ring bookings growth and expectations for bridal recovery versus fine jewelry mix - Management is optimistic about the sustainability of engagement ring bookings growth and expects to continue outperforming the industry [26] Question: Adjusted EBITDA margin guidance and impact of metals pricing and tariffs - Management indicated that they have taken selective pricing increases and are continuously optimizing pricing to mitigate cost increases [28] Question: Top-line guidance for the full year and headwinds - Management noted that the top-line guidance factors in strong performance in engagement and fine jewelry, with caution due to the holiday season's variability [33] Question: Marketing efficiencies driving sales and leverage - Management highlighted improvements in marketing efficiency through better allocation of spend and machine learning models to enhance site conversion [37] Question: Capital priorities and factors driving upside in fine versus engagement jewelry - Management emphasized a strong balance sheet and flexibility to invest in showroom expansion and brand awareness while maintaining a focus on ROI [40]

Financial Performance - Brilliant Earth Group, Inc. reported quarterly earnings of $0.02 per share, matching the Zacks Consensus Estimate, and consistent with earnings from the previous year [1] - The company posted revenues of $110.25 million for the quarter ended September 2025, exceeding the Zacks Consensus Estimate by 0.90% and up from $99.87 million a year ago [2] - Over the last four quarters, the company has surpassed consensus EPS estimates three times and has also topped consensus revenue estimates three times [2][1] Stock Performance - Since the beginning of the year, Brilliant Earth Group shares have increased by approximately 21.9%, outperforming the S&P 500's gain of 15.1% [3] - The sustainability of the stock's price movement will largely depend on management's commentary during the earnings call [3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.05 on revenues of $125.53 million, and for the current fiscal year, it is $0.07 on revenues of $437.63 million [7] - The estimate revisions trend for Brilliant Earth Group was unfavorable prior to the earnings release, resulting in a Zacks Rank 5 (Strong Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Retail - Jewelry industry, to which Brilliant Earth Group belongs, is currently ranked in the bottom 15% of over 250 Zacks industries, suggesting potential challenges ahead [8] - The performance of the stock may also be influenced by the overall outlook for the industry [8]

Q3 2025 Financial Performance - Net sales reached $110.3 million, a 10.4% year-over-year increase[56, 61] - Average Order Value (AOV) was $2,209[56] - Total orders increased by 17% year-over-year[56] - Repeat orders grew by 16% year-over-year[56] - Gross margin stood at 57.6%[56] - Adjusted EBITDA was $3.6 million, representing 3.2% of net sales[56] - The company ended the quarter with $73.4 million in cash[56, 61] Strategic Achievements - Engagement ring bookings returned to year-over-year growth[61] - Fine jewelry bookings experienced a 45% year-over-year increase, accounting for 14% of total bookings mix[61, 79] - Wedding and anniversary band bookings achieved their highest-ever quarter with double-digit year-over-year growth[61, 79] - The company paid off its outstanding term loan balance of $34.8 million, resulting in zero debt[61] Future Outlook - The company projects net sales growth of 3% to 4.5% year-over-year for fiscal year 2025[97] - The company anticipates an adjusted EBITDA margin of 2% to 3% for fiscal year 2025[97]

Financial Performance - Delivered Q3 2025 Net Sales of $110.3 million, representing a 10.4% year-over-year growth, exceeding the company's guidance range [4] - Achieved a Gross Margin of 57.6% in Q3 2025, consistent with the company's medium-term target [4] - Reported a GAAP Net loss of $0.7 million for Q3 2025, an improvement of 37.5% compared to a loss of $1.1 million in Q3 2024 [5] - Adjusted EBITDA for Q3 2025 was $3.6 million, maintaining profitability for the 17th consecutive quarter [4] - Year-to-date September 2025 Net Sales totaled $313.1 million, a 3.4% increase from $302.6 million in the same period of 2024 [7] - Net sales for Q3 2025 reached $110,252,000, a 10.4% increase from $99,873,000 in Q3 2024 [20] - Gross profit for Q3 2025 was $63,451,000, compared to $60,770,000 in Q3 2024, reflecting a gross margin of 57.5% [20] - Adjusted EBITDA for Q3 2025 was $3,561,000, with an adjusted EBITDA margin of 3.2% [25] - The company reported a net loss of $672,000 for Q3 2025, compared to a net loss of $1,075,000 in Q3 2024 [20] - Adjusted Net Income for Q3 2025 was $1.711 billion, compared to $1.490 billion in Q3 2024, representing a year-over-year increase of 14.8% [27] - The company reported a net loss attributable to Brilliant Earth Group, Inc. of $672 million for Q3 2025, an improvement from a net loss of $1.075 billion in Q3 2024 [27] - Adjusted diluted earnings per share for Q3 2025 was $0.02, consistent with Q3 2024, while the reported diluted earnings per share remained at $(0.01) for both periods [27] Sales and Orders - Drove 45% year-over-year bookings growth in fine jewelry, alongside a return to year-over-year bookings growth in engagement rings [2] - Total Orders in Q3 2025 reached 49,910, a 16.8% increase from 42,744 in Q3 2024 [5] - Average Order Value (AOV) decreased by 5.5% year-over-year to $2,209 in Q3 2025 [5] Assets and Liabilities - Total current assets decreased to $135,651,000 as of September 30, 2025, down from $211,413,000 at December 31, 2024 [22] - Cash and cash equivalents dropped to $73,429,000 from $161,925,000 over the same period [22] - Total liabilities decreased to $123,912,000 as of September 30, 2025, compared to $171,863,000 at December 31, 2024 [22] Marketing and Strategy - Marketing and advertising expenses for Q3 2025 were $26,132,000, slightly down from $26,678,000 in Q3 2024 [20] - The company continues to focus on expanding its e-commerce and omnichannel approach to enhance customer engagement and market acceptance [20] Special Events and Initiatives - Celebrated "Twenty Years of Yes" with the launch of the 20th Anniversary and exclusive Pacific Green Diamond collections [4] - For the full year 2025, the company projects Net Sales growth of 3% to 4.5% year-over-year [9] Equity and Taxation - The diluted weighted average of common stock assumed outstanding increased to 100,508,744 in Q3 2025 from 98,497,546 in Q3 2024 [27] - Equity-based compensation expense for the nine months ended September 30, 2025, was $6.953 billion, slightly down from $7.536 billion in the same period of 2024 [27] - The company incurred a loss on extinguishment of debt amounting to $573 million in Q3 2025, with no such loss reported in Q3 2024 [27] - The tax impact of adjustments for the nine months ended September 30, 2025, was $(2.187) billion, compared to $(2.235) billion for the same period in 2024 [27] - The total number of vested LLC Units exchangeable for common stock was 84,944,802 as of Q3 2025, showing stability compared to 84,905,562 in Q3 2024 [27] - The company expects to issue common stock upon redemption of LLC Units rather than cash settlement, impacting future financial reporting [28] - The acquisition of LLC units by Brilliant Earth Group, Inc. will result in the taxable income currently recognized by members of Brilliant Earth, LLC becoming taxable to the company [28]