Brilliant Earth Reports Fourth Quarter and Fiscal Year 2024 Results

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$124.3 million in Q4 2023 [4] - Gross profit was $71.2 million, down 2.5$73.0 million in Q4 2023 [4] - Net income for Q4 2024 was $2.6 million, a 35.3$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$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$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]