As of September 30, 2023 and December 31, 2022, the Company had $27.7 million and $27.6 million, respectively, in consigned inventory held on behalf of suppliers which is not recorded in the unaudited condensed consolidated balance sheets. Accrued expenses and other current liabilities consist of the following (in thousands): 6. LEASES Total operating lease ROU assets and lease liabilities were as follows (in thousands): | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------| ...

Financial Data and Key Metrics - Q2 revenue was $110.2 million, a 1% increase YoY, with a 23% growth on a 4-year CAGR basis [26] - Gross margin expanded by 450 basis points YoY to 57.6%, driven by brand resonance, proprietary products, price optimization, and procurement efficiencies [26] - Adjusted EBITDA was $7.7 million, representing a 7% margin, exceeding expectations due to strong gross margin performance and disciplined OpEx management [12][26] - Cash position at the end of Q2 was approximately $150 million, an increase of over $3 million compared to Q1 2023 [12] - Full-year 2023 net sales guidance remains $460 million to $490 million, representing 5% to 11% growth YoY [13] - Adjusted EBITDA guidance for 2023 increased to $22 million to $35 million, with a margin of 5% to 7% [14] Business Line Performance - Bridal segment saw double-digit growth in wedding bands, particularly in men's wedding rings, indicating strong brand resonance across genders [28] - Fine jewelry segment demonstrated strong growth, with personalized jewelry and signature offerings performing well [28] - Social media campaigns, including influencer activations, drove significant engagement, with over 1 million views on content featuring Brilliant Earth products [27] - The company expanded its quick-ship assortment with ready-to-ship engagement rings, catering to customer convenience [7] Market Performance - The company opened 4 new showrooms in Q2, bringing the total to 8 year-to-date, with plans to reach at least 35 by year-end [8][29] - Showroom expansion in major metro markets like Los Angeles, Chicago, and Washington, D.C., is yielding strong results [29] - The first indoor mall-based showroom is set to open soon, with expectations of strong ROI and customer engagement [16] Strategic Direction and Industry Competition - The company continues to focus on sustainability, transparency, and inclusivity, launching new collections like the Planet-Fit and Renewable collections to highlight its mission [9] - Investments in technology and systems are enabling growth, with a focus on refining the omnichannel experience [6] - The company is leveraging its asset-light operating model to maintain strong inventory turns and cash flow [10] Management Commentary on Operating Environment and Future Outlook - Management expects higher YoY revenue growth rates in H2 2023, driven by showroom performance and fine jewelry assortment [13] - The company anticipates normalization in bridal growth rates towards the end of 2023, with continued market share gains [52] - Marketing investments are being made to build brand awareness and position the company for success during the holiday season [34] Other Important Information - Stephanie Layton joined as Senior Vice President of Investor Relations, bringing significant experience in ESG and investor relations [30] - The company is testing and learning from its showroom expansion, with a focus on refining and optimizing the customer experience [29] Q&A Session Summary Question: Indoor Mall Showroom Economics and $10,000+ Price Point Trends - The indoor mall showroom is expected to offer compelling economics and drive brand awareness, with customer data supporting the move [16] - The $10,000+ price point continues to see moderation, but growth in the sub-$10,000 range is strong, reflecting the company's ability to meet demand across price points [16] Question: Gross Margin Performance and Long-Term Targets - Q2 gross margin outperformance was driven by brand strength, product differentiation, and price optimization enhancements [18] - H2 gross margins are expected to be in a similar range as H1, with ongoing investments in brand building and cost management [34] Question: Revenue and OpEx Phasing for Q3 and Q4 - Revenue distribution for Q3 and Q4 is expected to be consistent with 2021, with a slight weighting towards Q4 due to showroom openings and fine jewelry performance [62] - OpEx investments in Q3 and Q4 will focus on driving long-term brand awareness and preparing for the holiday season [62] Question: Precious Metals and Diamond Prices Impact on ASP - The company has developed internal capabilities to adjust pricing dynamically based on input costs, leveraging its asset-light model to manage inventory efficiently [42] - ASP moderation is driven by growth in the sub-$10,000 price range and fine jewelry acceleration, with strong performance during the Mother's Day gifting period [42] Question: Marketing Leverage and Long-Term Growth - Marketing investments are focused on driving long-term sustainable growth, with opportunities for leverage as showrooms mature and brand awareness grows [76] - The company is balancing growth investments with profitability, as evidenced by the increased adjusted EBITDA guidance for 2023 [76]

Brilliant Earth Group, Inc. (NASDAQ:BRLT) Q1 2023 Earnings Conference Call May 11, 2023 12:00 PM ET Company Participants Allison Malkin - ICR Beth Gerstein - Chief Executive Officer Jeff Kuo - Chief Financial Officer Conference Call Participants Oliver Chen - TD Cowen Dana Telsey - Telsey Advisory Group Noah Zatzkin - KeyBanc Capital Markets Amanda Douglas - J.P. Morgan Edward Yruma - Piper Sandler Randy Konik - Jefferies Rick Patel - Raymond James Oliver Chen - TD Cowen Dylan Carden - William Blair Operato ...

FORM 10-Q For the transition period from to Commission File Number 001-40836 Delaware 87-1015499 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) 300 Grant Avenue, Third Floor San Francisco, CA 94108 (Address of principal executive offices) (Zip Code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A common stock, $0.0001 par value per share BRLT The Nasdaq ...

FORM 10-K For the year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 87-1015499 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) 300 Grant Avenue, Third Floor San Francisco, CA 94108 (Address of principal executive offices) (Zip Code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Cl ...

Brilliant Earth Group, Inc. (NASDAQ:BRLT) Q4 2022 Earnings Conference Call March 15, 2023 5:00 PM ET Company Participants Allison Malkin – ICR Beth Gerstein – Chief Executive Officer Jeff Kuo – Chief Financial Officer Conference Call Participants Dana Telsey – Telsey Advisory Group Edward Yruma – Piper Sandler Oliver Chen – Cowen Amanda Douglas – J.P. Morgan Rick Patel – Raymond James Michael Binetti – Credit Suisse Dylan Carden – William Blair Noah Zatzkin – KeyBanc Capital Operator Good day and thank you ...

Brilliant Earth Group, Inc. (NASDAQ:BRLT) Q3 2022 Earnings Conference Call November 10, 2022 5:00 PM ET Company Participants Allison Malkin – Investor Relations Beth Gerstein – Chief Executive Officer Jeff Kuo – Chief Financial Officer Conference Call Participants Amanda Douglas – J.P. Morgan Oliver Chen – Cowen Michael Binetti – Credit Suisse Noah Zatzkin – KeyBanc Capital Markets Operator Hello, and thank you for standing by. Welcome to Brilliant Earth's Third Quarter 2022 Earnings Conference Call. [Opera ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 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) Delaware 87-10154 ...

Brilliant Earth Group, Inc. (NASDAQ:BRLT) Q2 2022 Earnings Conference Call August 11, 2022 5:00 PM ET Company Participants Allison Malkin - ICR Beth Gerstein - Chief Executive Officer Jeff Kuo - Chief Financial Officer Conference Call Participants Thomas Nass - Cowen Olive Chen - Cowen Dana Telsey - Telsey Advisory Group Matthew Boss - JPMorgan Edward Yruma - Piper Sandler Noah Zatzkin - KeyBanc Randal Konik - Jefferies Rick Patel - Raymond James Operator Good day, and thank you for standing by. Welcome to ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 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) Delaware 87-1015499 (S ...