# EDGAR Filing Document

**Accession Number:** 0001866757
**File Stem:** 0001628280-26-014992
**Filing Date:** 2026-3
**Character Count:** 36718
**Document Hash:** 50cd61a488d79659eaaf4f5f2e85e2d9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-26-014992.hdr.sgml**: 20260305

**ACCESSION NUMBER**: 0001628280-26-014992

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260305

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260305

**DATE AS OF CHANGE**: 20260305

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Brilliant Earth Group, Inc.
- **CENTRAL INDEX KEY:** 0001866757
- **STANDARD INDUSTRIAL CLASSIFICATION:** JEWELRY, SILVERWARE & PLATED WARE [3910]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 871015499
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40836
- **FILM NUMBER:** 26724135

**BUSINESS ADDRESS:**
- **STREET 1:** 300 GRANT AVENUE
- **STREET 2:** 3RD FLOOR
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94108
- **BUSINESS PHONE:** (415) 918-5551

**MAIL ADDRESS:**
- **STREET 1:** 300 GRANT AVENUE
- **STREET 2:** 3RD FLOOR
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94108

?xml version='1.0' encoding='ASCII'? brlt-20260305

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**______________**

**FORM 8-K** 

**____________**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): March 5, 2026**

**Brilliant Earth Group, Inc.** 

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Nevada** | **001-40836** | **87-1015499** |
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| **300 Grant Avenue, Third Floor,**<br>**San Francisco, CA** | | **94108** |
| (Address of Principal Executive Offices) | | (Zip Code) |

---

Registrant's telephone number, including area code: **(800) 691-0952** 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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 Global Market** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

------

---

| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition.** |

---

On March 5, 2026, Brilliant Earth Group, Inc. issued a press release announcing its financial results for the three months and year ended December 31, 2025. A copy of such press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

The information furnished under this Item 2.02, including the press release attached as Exhibit 99.1 hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated in such filing.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | <u>[Press Release of Brilliant Earth Group, Inc., dated](brlt-4q25earningsrelease.htm)[March](brlt-4q25earningsrelease.htm)[5](brlt-4q25earningsrelease.htm)[, 202](brlt-4q25earningsrelease.htm)[6](brlt-4q25earningsrelease.htm)</u> |

---

------

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**BRILLIANT EARTH GROUP, INC.**

---

| | | |
|:---|:---|:---|
| Date: March 5, 2026 | By: | /s/ Jeffrey Kuo |
|  |  | Jeffrey Kuo |
|  |  | Chief Financial Officer |

---

## Exhibit 99.1

**Brilliant Earth Reports Record Quarterly Net Sales** 

*Delivered 4% Y/Y Net Sales Growth* 

*Drove 34% Y/Y Bookings Growth in Fine Jewelry*

*Provides Q1 and Full Year Guidance 2026*

SAN FRANCISCO, Calif. – March 5, 2026 (GLOBE NEWSWIRE) – Brilliant Earth Group, Inc. ("Brilliant Earth" or the "Company") (Nasdaq: BRLT), an innovative, global leader in ethically sourced fine jewelry, today announced financial results for the three and twelve months ended December 31, 2025.

**Fourth Quarter and Fiscal Year 2025 Highlights (quarterly and annual periods ended December 31, 2025):**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Delivered Net Sales of $124.4 million and $437.5 million in the fourth quarter and fiscal year, respectively.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**◦ Largest quarter ever of Net Sales**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ **Total orders grew year-over-year 7% in Q4 and 13% in 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**◦ Repeat orders grew year-over-year 15% in Q4 and 13% in 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**◦ Average Selling Price (ASP) grew year-over-year across the assortment in Q4**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Drove record quarterly fine jewelry bookings in Q4**, with 34% year-over-year bookings growth, highlighting continued success in strategic assortment expansion beyond bridal heritage

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Maintained strong Gross Margin of 55.9% and 57.5%** in the fourth quarter and fiscal year, respectively, while navigating headwinds in precious metal prices and tariffs, demonstrating the agility of the Company's business model

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Drove 150 basis points of leverage in marketing expense** as a percentage of Net Sales for both the fourth quarter and fiscal year as compared to the same prior year periods while continuing to make strategic investments in building brand awareness

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Q4 and full year profitability above the midpoint of the Company's Adjusted EBITDA guidance range:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**◦ GAAP Net loss of $1.3 million for the fourth quarter and net loss of $6.4 million for the fiscal year** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**◦ Adjusted EBITDA was $4.2 million for the fourth quarter and $12.0 million for the fiscal year**

"We closed our 20th anniversary year with our largest quarter of Net Sales in company history, delivering results that demonstrate our continued ability to gain market share and drive profitable growth. This quarter marks continued success in the strategic expansion of our assortment with fine jewelry bookings growing 34% year-over-year and reaching 23% of total bookings in the quarter," said Beth Gerstein, Co-Founder and Chief Executive Officer of Brilliant Earth. "Our agility in achieving a strong gross margin despite metal headwinds and a challenging tariff environment, combined with continued marketing leverage, resulted in our Adjusted EBITDA landing above the midpoint of our guidance. As we enter the new year, I'm confident we are well positioned to continue outperforming the industry and gaining share in 2026."

------

**Fourth Quarter 2025 Results** 

---

| | | | |
|:---|:---|:---|:---|
| | **<u>Q4 2025</u>** | **<u>Q4 2024</u>** | **<u>% Change\*</u>** |
| &nbsp;&nbsp;Total Orders | 62178 | 58357 | 6.5% |
| &nbsp;&nbsp;AOV | $2001 | $2048 | (2.3)% |
| &nbsp;&nbsp;(**$ in millions, except per share amounts**) |  |  |  |
| &nbsp;&nbsp;Net Sales | $124.4 | $119.5 | 4.1% |
| &nbsp;&nbsp;Gross Profit | $69.5 | $71.2 | (2.4)% |
| &nbsp;&nbsp;Gross Margin | 55.9% | 59.6% | (370)bps |
| &nbsp;&nbsp;Net (loss) income allocable to Brilliant Earth Group, Inc. <sup>(1)</sup> | $(2.9) | $0.4 | (825.0)% |
| &nbsp;&nbsp;Net (loss) income, as reported | $(1.3) | $2.6 | 151.3% |
| &nbsp;&nbsp;Net (loss) income margin | (1.1)% | 2.2% | (330)bps |
| &nbsp;&nbsp;Adjusted net (loss) income <sup>(3)</sup> | $(5.7) | $4.2 | (235.7)% |
| &nbsp;&nbsp;GAAP Diluted EPS <sup>(2)</sup> | $(0.19) | $0.02 | (1050.0)% |
| &nbsp;&nbsp;Adjusted Diluted EPS <sup>(3)</sup> | $(0.06) | $0.04 | (250.0)% |
| &nbsp;&nbsp;Adjusted EBITDA <sup>(3)</sup> | $4.2 | $6.9 | (39.1)% |
| &nbsp;&nbsp;Adjusted EBITDA margin <sup>(3)</sup> | 3.3% | 5.8% | (250)bps |

---

\*Percentage changes may not recalculate due to rounding

(1)&nbsp;&nbsp;&nbsp;&nbsp;Represents net (loss) income allocable to Brilliant Earth Group, Inc. during the fourth quarter of 2025 and 2024.

(2)&nbsp;&nbsp;&nbsp;&nbsp;Represents GAAP Diluted EPS during the fourth quarter of 2025 and 2024.

(3)&nbsp;&nbsp;&nbsp;&nbsp;Adjusted net (loss) income, Adjusted Diluted EPS, Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See "Disclosure Regarding Non-GAAP Financial Measures and Key Metrics" for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures.

**Fiscal Year 2025 Results** 

---

| | | | |
|:---|:---|:---|:---|
| | **<u>FY 2025</u>** | **<u>FY 2024</u>** | **<u>% Change\*</u>** |
| &nbsp;&nbsp;Total Orders | 210158 | 186030 | 13.0% |
| &nbsp;&nbsp;AOV | $2082 | $2269 | (8.2)% |
| &nbsp;&nbsp;(**$ in millions, except per share amounts**) |  |  |  |
| &nbsp;&nbsp;Net Sales | $437.5 | $422.2 | 3.6% |
| &nbsp;&nbsp;Gross Profit | $251.5 | $254.4 | (1.1)% |
| &nbsp;&nbsp;Gross Margin | 57.5% | 60.3% | (280)bps |
| &nbsp;&nbsp;Net (loss) income allocable to Brilliant Earth Group, Inc. <sup>(1)</sup> | $(3.6) | $0.5 | (820.0)% |
| &nbsp;&nbsp;Net (loss) income, as reported | $(6.4) | $4.0 | (260.2)% |
| &nbsp;&nbsp;Net (loss) income margin | (1.5)% | 0.9% | (240)bps |
| &nbsp;&nbsp;Adjusted net (loss) income <sup>(3)</sup> | $(3.3) | $11.8 | (128.0)% |
| &nbsp;&nbsp;GAAP Diluted EPS <sup>(2)</sup> | $(0.25) | $0.03 | (933.3)% |
| &nbsp;&nbsp;Adjusted Diluted EPS <sup>(3)</sup> | $(0.03) | $0.12 | (125.0)% |
| &nbsp;&nbsp;Adjusted EBITDA <sup>(3)</sup> | $12.0 | $21.1 | (43.3)% |
| &nbsp;&nbsp;Adjusted EBITDA margin <sup>(3)</sup> | 2.7% | 5.0% | (230)bps |

---

\*Percentage changes may not recalculate due to rounding

(1)&nbsp;&nbsp;&nbsp;&nbsp;Represents net (loss) income allocable to Brilliant Earth Group, Inc. during the years ended December 31, 2025 and 2024.

(2)&nbsp;&nbsp;&nbsp;&nbsp;Represents GAAP Diluted EPS during the years ended December 31, 2025 and 2024.

(3)&nbsp;&nbsp;&nbsp;&nbsp;Adjusted net (loss) income, Adjusted Diluted EPS, Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See "Disclosure Regarding Non-GAAP Financial Measures and Key Metrics" for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures.

------

**2026 Outlook**

**First Quarter**

---

| | |
|:---|:---|
| Net Sales Growth | Positive Mid-single-digit % Y/Y  |
| Adjusted EBITDA Margin  | Negative Mid-single-digit % |

---

**Full Year** 

---

| | |
|:---|:---|
| Net Sales Growth | Positive Mid-single-digit % Y/Y |
| Adjusted EBITDA $ | Profitable, slightly lower than 2025 |

---

Outlook assumes metal prices as of March 4, 2026.

**Webcast and Conference Call Information**

Brilliant Earth will host a conference call and webcast to discuss fourth quarter and full year 2025 results and business outlook today, March 5, 2026, at 8:30 a.m. ET/5:30 a.m. PT. The webcast and accompanying slide presentation can be accessed at https://investors.brilliantearth.com. The conference call can be accessed by using the following link: https://register-conf.media-server.com/register/BI86a1508a419c4fd78bc21e1d3e28c8f4. After registering, an email will be sent including dial-in details and a unique conference call pin required to join the live call. A replay of the webcast will remain available on the website after the live webcast concludes.

**About Brilliant Earth** 

Brilliant Earth is an industry-disrupting global leader in ethically sourced fine jewelry. The Company's mission since its founding in 2005 has been to create a more transparent, sustainable, and compassionate jewelry industry. With a premium brand, curated proprietary product assortment, seamless omnichannel shopping experience, and asset-light, data driven business model, Brilliant Earth is transforming the jewelry industry. The Company reported Net Sales of $437 million for the full year 2025. Headquartered in San Francisco, CA, Brilliant Earth has 42 showrooms and counting across the United States and has served customers in over 50 countries worldwide.

**Disclosure Regarding Non-GAAP Financial Measures and Key Metrics**

In addition to the financial measures presented in this release in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"), the Company has included certain non-GAAP financial measures in this release, including Adjusted EBITDA, Adjusted Net (loss) income, Adjusted Diluted EPS and Adjusted EBITDA margin. These non-GAAP financial measures provide users of our financial information with useful information in evaluating our operating performance and exclude certain items from net income that may vary substantially in frequency and magnitude from period to period.

We define EBITDA as net (loss) income before interest, taxes, depreciation and amortization. We define Adjusted EBITDA as net (loss) income excluding interest expense, income taxes, depreciation expense, amortization of cloud-based software implementation costs, showroom pre-opening expense, equity-based compensation expense, certain non-operating expenses and income, and other unusual and/or infrequent costs, which that we do not consider in our evaluation of ongoing performance of our core operations. We define Adjusted EBITDA margin as Adjusted EBITDA calculated as a percentage of net sales. We believe that Adjusted EBITDA and Adjusted EBITDA margin, which eliminate the impact of certain expenses that we do not believe reflect our underlying business performance, provide useful information to investors to assess the performance of our business.

We define Adjusted Net (loss) income as net (loss) income adjusted for the impact of certain additional non-cash and other items that we do not consider in our evaluation of ongoing performance of our core operations. These items include showroom pre-opening expense, equity-based compensation expense, costs to fund the Brilliant Earth Foundation and transaction costs and other expenses. We define Adjusted Diluted Earnings Per Share as Adjusted Net (loss) income, divided by the diluted weighted average shares of common stock outstanding. The diluted weighted average shares of common stock outstanding is derived from the historical diluted weighted average shares of common stock assuming

------

such shares were outstanding for the entirety of the period presented. We believe Adjusted Net (loss) income and Adjusted Diluted Earnings Per Share, which eliminate the impact of certain expenses that we do not believe reflect our underlying business performance, provide useful information to investors to assess the performance of our business.

Please refer to "GAAP to Non-GAAP Reconciliations" located in the financial supplement in this release for a reconciliation of GAAP to non-GAAP financial information.

This release includes forward-looking guidance for certain non-GAAP financial measures, including Adjusted EBITDA. These measures will differ from net (loss) income, determined in accordance with GAAP, in ways similar to those described in the reconciliations at the end of this release. We are not able to provide, without unreasonable effort, guidance for net income, determined in accordance with GAAP, or a reconciliation of guidance for Adjusted EBITDA to the most directly comparable GAAP measure because the Company is not able to predict with reasonable certainty the amount or nature of all items that will be included in net income.

This press release also contains certain key business metrics which are used to evaluate our business and growth trends, establish budgets, measure the effectiveness of our sales and marketing efforts, and assess operational efficiencies. We define net cash as cash and cash equivalents less the total principal balance of our outstanding debt. We define Bookings for each period as the dollar value of confirmed orders as of the date of order placement. We believe Bookings, which represent a measure of gross sales and potential future Net Sales, provide useful information to investors to assess the performance of our business. We define total orders as the total number of customer orders delivered less total orders returned in a given period (excluding those repair, resize, and other orders which have no revenue). We view total orders as a key indicator of the velocity of our business and an indication of the desirability of our products to our customers. Total orders, together with AOV, is an indicator of the net sales we expect to recognize in a given period. Total orders may fluctuate based on the number of visitors to our website and showrooms, and our ability to convert these visitors to customers. We believe that total orders is a measure that is useful to investors and management in understanding our ongoing operations and in an analysis of ongoing operating trends. We define average order value, or AOV, as net sales in a given period divided by total orders in that period. We define average selling price, or ASP, as the total retail sales price of products sold in a given period divided by the total number of product units sold during that same period. We believe that AOV and ASP are measures that are useful to investors and management in understanding our ongoing operations and in an analysis of ongoing operating trends. AOV varies depending on the product type and number of items per order. AOV and ASP may also fluctuate as we expand into and increase our presence in additional product types and price points, and open additional showrooms.

------

**Forward-Looking Statements** 

This Press Release contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts contained in this press release may be forward-looking statements. Statements regarding our future results of operations, financial position and our expectations regarding Net Sales, Adjusted EBITDA, Adjusted EBITDA Margin and growth rates are forward-looking statements. In some cases, you can identify forward-looking statements by terms, such as "ahead," "anticipate," "believe," "contemplate," "continue," "could," "estimate," "evolve," "expect," "future," "intend," "may," "outlook'" "plan," "potential," "predict," "seek," "should," "strategy," "target," "will," or "would," or the negative of these terms or other similar expressions. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, and uncertainties that are difficult to predict. You should not rely upon forward-looking statements as predictions of future events. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including, but not limited to: fluctuations in the pricing and supply of diamonds, other gemstones, and precious metals, particularly responsibly sourced natural and lab-grown diamonds and repurposed precious metals such as gold; an overall decline in the health of the economy and other factors impacting consumer spending, such as recessionary or inflationary conditions, governmental instability, the impact of any changes in trade policy, including the imposition of new or increased tariffs on goods imported into the United States and any resulting retaliatory trade actions by other governments, war and fears of war, and natural disasters; if we fail to cost-effectively turn existing customers into repeat customers or acquire new customers; our rapid growth in recent years and limited operating experience at our current scale of operations; our ability to manage growth effectively; increased lead times, supply shortages, and supply changes; our expansion plans in the United States; our ability to compete in the fine jewelry retail industry; our ability to maintain and enhance our brand and to engage or expand our base of customers; our ability to effectively develop and expand our sales and marketing capabilities and increase our customer base and achieve broader market acceptance of our e-commerce and omnichannel approach to shopping for fine jewelry; our profitability and cash flow being negatively affected if we are not successful in managing our inventory balances and inventory shrinkage; a decline in sales of Design Your Own rings; our heavy reliance on our information technology systems, as well as those of our third-party vendors and service providers, for our business to effectively operate and to safeguard confidential information and risks related to any significant failure, inadequacy or interruption of these systems, security breaches or loss of data; the impact of environmental, social, and governance matters on our business and reputation; our ability to manage risks related to our e-commerce and omnichannel business; our ability to effectively anticipate and respond to changes in consumer preferences and shopping patterns; and introduce new products and programs that appeal to new or existing customers; our dependence on distributions from Brilliant Earth, LLC, our principal asset, to pay our taxes and expenses, including payments under the Tax Receivable Agreement; risks related to our obligations to make substantial cash payments under the Tax Receivable Agreement and risks related to our organizational structure; and the other risks, uncertainties and the factors described in the section titled "Risk Factors" in our Annual Report on Form10-K for the year ended December 31, 2024, which was filed with the SEC on March 13, 2025 and is available at www.sec.gov. We qualify all of our forward-looking statements by these cautionary statements. These forward-looking statements speak only as of the date of this press release. Except as required by applicable law, we undertake no obligation to update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise.

**Contacts:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** 

**Investors:**

Colin Bourland**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** 

<u>investorrelations@brilliantearth.com</u> 

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**BRILLIANT EARTH GROUP, INC.**

**UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS**

(Dollars in thousands, except per share amounts)

---

| | | |
|:---|:---|:---|
| | **Years ended December 31,** | **Years ended December 31,** |
| | **2025** | **2024** |
| Net sales | $**437483**  | $**422161**  |
| Cost of sales | **185979**  | **167759**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Gross profit** | **251504**  | **254402**  |
| Operating expenses: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and advertising | **105965**  | **108339**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative | **150915**  | **142713**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | **256880**  | **251052**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Loss) income from operations** | **(5376)** | **3350**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense | **(2282)** | **(5031)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income, net | **3668**  | **5835**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on TRA liability adjustment | **7804**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt | **(573)** | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Income before income tax expense** | **3241**  | **4154**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income tax expense | **(9641)** | **(160)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net (loss) income** | **(6400)** | **3994**  |
| Net (loss) income allocable to non-controlling interest | **(2765)** | **3453**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net (loss) income allocable to Brilliant Earth Group, Inc.** | $**(3635)** | $**541**  |
| Earnings per share: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | $**(0.25)** | $**0.04**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | $**(0.25)** | $**0.03**  |
| Weighted average shares of common stock outstanding:  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | **14752634**  | **13304227**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | **14752634**  | **98352924**  |

---

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**BRILLIANT EARTH GROUP, INC.**

**UNAUDITED CONSOLIDATED BALANCE SHEETS**

(Dollars in thousands, except per share amounts)

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| **Assets** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $**79089**  | $**161925**  |
| &nbsp;&nbsp;&nbsp;Restricted cash | **349**  | **216**  |
| &nbsp;&nbsp;&nbsp;Inventories, net | **53238**  | **38292**  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | **12052**  | **10980**  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total current assets** | **144728**  | **211413**  |
| Property and equipment, net | **19622**  | **21626**  |
| Deferred tax assets | **—**  | **9636**  |
| Operating lease right of use assets | **31879**  | **35222**  |
| Other assets | **4674**  | **3348**  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total assets**  | $**200903**  | $**281245**  |
| **Liabilities and stockholders' equity** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $**24804**  | $**15733**  |
| &nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | **35732**  | **31714**  |
| &nbsp;&nbsp;&nbsp;Deferred revenue | **22671**  | **18926**  |
| &nbsp;&nbsp;&nbsp;Current portion of operating lease liabilities | **6896**  | **6108**  |
| &nbsp;&nbsp;&nbsp;Current portion of long-term debt | **—**  | **5688**  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total current liabilities**  | **90103**  | **78169**  |
| Long-term debt, net of debt issuance costs | **—**  | **50010**  |
| Operating lease liabilities | **31163**  | **35856**  |
| Payable pursuant to the Tax Receivable Agreement | **—**  | **7828**  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | **121266**  | **171863**  |
| **Commitments and contingencies**  |  |  |
| **Stockholders' equity** |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stock, $0.0001 par value per share, 10,000,000 shares authorized, none issued and outstanding at December 31, 2025 and 2024, respectively | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;Class A common stock, $0.0001 par value per share, 1,200,000,000 shares authorized; 16,092,701 shares issued and 15,518,024 shares outstanding at December 31, 2025 and 14,125,925 shares issued and 13,843,944 shares outstanding at December 31, 2024 | **2**  | **1**  |
| &nbsp;&nbsp;&nbsp;Class B common stock, $0.0001 par value per share, 150,000,000 shares authorized; 35,822,342 and 35,820,912 shares issued and outstanding at December 31, 2025 and 2024, respectively | **4**  | **4**  |
| &nbsp;&nbsp;&nbsp;Class C common stock, $0.0001 par value per share, 150,000,000 shares authorized; 49,119,976 shares issued and outstanding at December 31, 2025 and 2024, respectively | **5**  | **5**  |
| &nbsp;&nbsp;&nbsp;Class D common stock, $0.0001 par value per share, 150,000,000 shares authorized; none issued and outstanding at December 31, 2025 and 2024, respectively | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | **16024**  | **11169**  |
| &nbsp;&nbsp;&nbsp;Treasury stock, at cost; 574,677 shares and 281,981 shares at December 31, 2025 and 2024, respectively  | **(1094)** | **(638)** |
| &nbsp;&nbsp;&nbsp;Retained earnings | **(2640)** | **4788**  |
| &nbsp;&nbsp;**Stockholders' equity attributable to Brilliant Earth Group, Inc.** | **12301**  | **15329**  |
| Non-controlling interests attributable to Brilliant Earth, LLC | **67336**  | **94053**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total stockholders' equity** | **79637**  | **109382**  |
| **Total liabilities and stockholders' equity** | $**200903**  | $**281245**  |

---

------

**<u>GAAP to Non-GAAP Reconciliations</u>**

(Unaudited and dollars in thousands, except per share amounts)

**ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN**

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended<br>December 31,** | **Three months ended<br>December 31,** | **Years ended December 31,** | **Years ended December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| **Net (loss) income** | $**(1348)** | $**2627**  | $**(6400)** | $**3994**  |
| Interest expense | —  | 1204  | 2282  | 5031  |
| Income tax expense (benefit)  | 9585  | (62) | 9641  | 160  |
| Depreciation expense | 1528  | 1466  | 6109  | 5312  |
| Amortization of cloud-based software implementation costs | 201  | 158  | 770  | 817  |
| Showroom pre-opening expense | 174  | 484  | 1248  | 1705  |
| Equity-based compensation expense | 1967  | 2398  | 8920  | 9934  |
| Other income, net <sup>(1)</sup> | (453) | (1359) | (3668) | (5835) |
| Gain on TRA liability adjustment | (7804) | **—**  | (7804) | —  |
| Loss on extinguishment of debt | —  | **—**  | 573  | —  |
| Other expenses <sup>(2)</sup> | 300  | **—**  | 300  | —  |
| Adjusted EBITDA | $**4150**  | $**6916**  | $**11971**  | $**21118**  |
| Net (loss) income margin | **(1.1)%** | **2.2%** | **(1.5)%** | **0.9%** |
| Adjusted EBITDA margin | **3.3%** | **5.8%** | **2.7%** | **5.0%** |

---

(1)Other income, net consists primarily of interest and other miscellaneous income, partially offset by expenses such as losses on exchange rates on consumer payments.

(2) These expenses are those that we did not incur in the normal course of business.

------

**ADJUSTED NET (LOSS) INCOME AND ADJUSTED DILUTED EARNINGS PER SHARE**

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended December 31,** | **Three months ended December 31,** | **Years ended December 31,** | **Years ended December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| **Net (loss) income attributable to Brilliant Earth Group, Inc., as reported** <sup>(1)</sup> | $**(2896)** | $**358**  | $**(3635)** | $**541**  |
| Net income (loss) impact from assumed redemption of all LLC Units to common stock <sup>(2)</sup> | 1548  | 2269  | (2765) | 3453  |
| Net (loss) income, as reported | (1348) | 2627  | (6400) | 3994  |
| Income tax (expense) benefit associated with conversion <sup>(3)</sup> | (401) | (576) | 696  | (878) |
| Tax effected net (loss) income after assumed conversion | (1749) | 2051  | (5704) | 3116  |
| Equity-based compensation expense | 1967  | 2398  | 8920  | 9934  |
| Showroom pre-opening expense | 174  | 484  | 1248  | 1705  |
| Gain on TRA liability adjustment | (7804) | —  | (7804) | —  |
| Loss on extinguishment of debt | —  | —  | 573  | —  |
| Other expenses <sup>(4)</sup> | 300  | —  | 300  | —  |
| Tax impact of adjustments | 1372  | (725) | (815) | (2960) |
| **Adjusted Net (Loss) Income** | $**(5740)** | $**4208**  | $**(3282)** | $**11795**  |
| Diluted weighted average of common stock assumed outstanding | 15336557  | 98745356  | 14752634  | 98352924  |
| Adjustments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Vested LLC Units that are exchangeable for common stock<sup>(5)</sup> | 84942318  | —  | 84949017  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Unvested LLC Units that are exchangeable for common stock<sup>(5)</sup> | —  | —  | 1153  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;RSUs | 770670  | —  | 344517  | —  |
| Adjusted diluted weighted average of common stock assumed outstanding | 101049545  | 98745356  | 100047321  | 98352924  |
| **Diluted earnings per share:** |  |  |  |  |
| As reported | $(0.19) | $0.02  | $(0.25) | $0.03  |
| As adjusted | $(0.06) | $0.04  | $(0.03) | $0.12  |

---

(1)Represents net (loss) income allocable to Brilliant Earth Group, Inc. for the three and twelve months ended December 31, 2025 and 2024.

(2)It is assumed that we will elect to issue common stock upon redemption of LLC Units rather than cash settle.

(3)Brilliant Earth Group, Inc. is subject to U.S. Federal income taxes, in addition to state and local taxes with respect to its allocable share of any net taxable income of Brilliant Earth, LLC. 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.

(4)These expenses are those we did not incur in the normal course of business.

(5)Assumes the exchange of all outstanding LLC units for shares of common stock, resulting in the elimination of the non-controlling interest and recognition of the net income (loss) attributable to non-controlling interest.

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