Brilliant Earth Group, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Brilliant Earth Group, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	201	252	380	440	446	422	437
Cost of revenue	116	140	193	206	189	168	186
Gross profit	84.9	112	187	234	257	254	252
Selling, general and administrative	90.3	85.7	147	211	253
Selling and marketing	57.1	47.1	74.4	97.3	119	108	106
General and administrative					133	143	151
Operating expenses					253	251	257
Operating income	-5.4	26.6	40.1	23.3	4.48	3.35	-5.38
Interest expense	2.26	4.94	7.59	4.66	5.13	5.03	2.28
Other non-operating income	-0.13	-0.07	-6.6	0.81	4.95	5.84	3.67
Pre-tax income	-7.78	21.6	25.9	18.9	4.3	4.15	3.24
Income tax	0	0	-0.32	-0.17	-0.43	0.16	9.64
Net income to minority interests			24.7	16.9	4.15	3.45	-2.77
Net income	-7.78	21.6	1.53	2.14	0.58	0.54	-3.64
EBITDA	-4.77	27.2	41	25.2	8.68	8.66	0.73
EPS, basic				0.20	0.05	0.04	-0.25
EPS, diluted				0.15	0.04	0.03	-0.25
Shares, basic (weighted)				10.7	11.9	13.3	14.8
Shares, diluted (weighted)				96.5	97.1	98.4	14.8

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	40.4	66.3	173	155	156	162	79.1
Inventory		13.6	24.7	39.3	37.8	38.3	53.2
Other current assets		2.94	8.18	11.8	11	11	12.1
Total current assets		83	206	206	205	211	145
Property, plant and equipment		1.99	6.73	16.6	22	21.6	19.6
Lease right-of-use assets			0	27.8	34.2	35.2	31.9
Other non-current assets		0.26	0.6	3.31	2.69	3.35	4.67
Total assets		85.2	218	263	274	281	201
Accounts payable		10.8	14.5	11	17.2	15.7	24.8
Accrued liabilities		17.1	28.8	37.8	31.1	31.7	35.7
Deferred revenue		10.8	18.8	18.6	19.6	18.9	22.7
Short-term debt		0	30.8	3.25	4.06	5.69	0
Total current liabilities		38.7	92.8	74.5	76.9	78.2	90.1
Long-term debt		62.2	32.8	59.5	55.6	50	0
Lease liabilities			0	28.5	35.6	35.9	31.2
Other non-current liabilities		2.7	2.98	0.05
Total liabilities		104	135	169	176	172	121
Total debt		62.2	63.6	62.7	59.6	55.7	0
Paid-in capital		0	6.87	7.26	8.28	11.2	16
Retained earnings		0	1.53	3.66	4.25	4.79	-2.64
Treasury stock					0	-0.64	-1.09
Shareholders' equity		0	8.4	10.9	12.5	15.3	12.3
Minority interests		0	74.4	82.2	84.9	94.1	67.3
Total equity		-85.4	82.8	93.1	97.5	109	79.6
Total liabilities and equity		85.2	218	263	274	281	201

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-7.78	21.6	26.3	19	4.73	3.99	-6.4
Depreciation and amortization	0.62	0.65	0.86	1.92	4.2	5.31	6.11
Stock-based compensation	0.04	0.05	2.8	8.84	9.95	9.93	8.92
Deferred income tax	0	0	-0.32	-0.17	-0.49	0.13	9.65
Change in inventory	-2.43	-2.83	-11.2	-14.8	1.5	-0.69	-15.2
Cash from operations	0.57	26.7	46.1	14.5	26.2	17.6	9.72
Capital expenditures	-0.68	-0.58	-5.61	-9.12	-11.9	-4.91	-3.97
Cash from investing	-0.68	-0.58	-5.61	-9.12	-11.9	-4.91	-3.97
Debt issued				65	0
Stock issued	0	0	0.01	0
Share buybacks					0	-0.64	-0.46
Dividends paid						0	-3.79
Cash from financing	22.6	-0.26	66.1	-23.6	-13.1	-6.57	-88.5
Net change in cash	22.5	25.9	107	-18.2	1.17	6.12	-82.7
Free cash flow	-0.11	26.1	40.5	5.38	14.3	12.7	5.75
Interest paid	1.8	3.72	5.89	3.83	5.15	4.88	2.15
Income taxes paid		0	0	0.18	0.07	0	0

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.37 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	56.5%	Gross profit / revenue.
Operating margin	-2.0%	Operating income / revenue.
EBITDA margin	-0.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-0.0%	Pre-tax income / revenue.
Net margin	-1.0%	Net income / revenue.
FCF margin	0.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	1.4%	Cash from operations / revenue.
Return on equity (ROE)	-37.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-2.3%	Net income / average total assets.
Stock-based pay / revenue	1.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.8%	Capital expenditures / revenue.
D&A / revenue	1.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-0.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	11.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-1.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	2.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	17.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-260.5%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-91.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-69.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-51.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-771.9%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-933.3%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-44.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-12.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-18.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-54.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	2.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-26.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-19.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	4.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	-28.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-8.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	18.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-85.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-46.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.58x	Current assets / current liabilities.
Quick ratio	0.85x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.85x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	62.7%	Total liabilities / total assets.
Interest coverage	-33.4x	Operating income / interest expense.
Working capital	$51.0M	Current assets - current liabilities.
Tangible book value	$12.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	2.28x	Revenue / average total assets.
Fixed asset turnover	24.8x	Revenue / average property, plant and equipment.
Inventory turnover	3.67x	Cost of revenue / average inventory.
Days inventory	99 days	365 x average inventory / cost of revenue.
Days payables	53 days	365 x average accounts payable / cost of revenue.
Capex / operating cash flow	55.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.04	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$4.42	Revenue / diluted weighted shares.
FCF per share	$0.03	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.06	Cash from operations / diluted weighted shares.
Book value per share	$0.12	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$0.12	Tangible book value / shares outstanding.
Cash per share	$0.74	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	3.3%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$139.5M	Share price x shares outstanding.
Enterprise value	$64.5M	Market cap + total debt - cash - short-term investments.
P/S	0.31x	Market cap / revenue.
P/B	11.5x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	11.5x	Market cap / tangible book value, when positive.
P/FCF	48.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	21.7x	Market cap / cash from operations, when positive.
EV/Sales	0.14x	Enterprise value / revenue.
EV/FCF	22.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.1%	Free cash flow / market cap.
Earnings yield	-3.2%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.1%	(Dividends paid + share buybacks) / market cap.

What was Brilliant Earth Group, Inc.'s revenue in fiscal 2025?

Brilliant Earth Group, Inc. reported revenue of $437.5M for fiscal 2025, 3.6% higher than the year before.

Was Brilliant Earth Group, Inc. profitable in fiscal 2025?

No. It reported a net loss of $3.6M.

How much free cash flow did Brilliant Earth Group, Inc. generate in fiscal 2025?

Cash from operations of $9.7M minus capital expenditures of $4.0M left free cash flow of $5.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to Brilliant Earth Group, Inc.