Welcome to our dedicated page for Brilliant Earth Group news (Ticker: BRLT), a resource for investors and traders seeking the latest updates and insights on Brilliant Earth Group stock.
Brilliant Earth Group, Inc. (BRLT) is a pioneering e-commerce jeweler, revolutionizing the fine jewelry industry with a steadfast commitment to ethical sourcing and sustainability. Founded in 2005 by Beth Gerstein and Eric Grossberg, the company is headquartered in San Francisco, CA, and Denver, CO. Since its inception, Brilliant Earth has grown rapidly, becoming a global leader in ethically sourced diamonds, gemstones, and jewelry.
The company's mission is to create a more transparent, sustainable, and compassionate jewelry industry. Brilliant Earth designs, procures, and sells a vast array of fine jewelry both online and through its expanding network of over 37 showrooms across the United States and in more than 50 countries worldwide. The products range from engagement rings and wedding bands to fine jewelry and custom designs, all made with ethically sourced materials.
Recent Achievements:
- In 2023, Brilliant Earth reported record net sales, orders, and gross margins, completing its fourth consecutive year with positive adjusted EBITDA.
- The launch of the 2023 Mission Report, which underscores their commitment to sustainability, transparency, compassion, and inclusivity.
- Partnership with the Jane Goodall Institute, highlighting a shared dedication to sustainability and social responsibility.
Current Projects:
- Implementation of a $20 million share repurchase program, reflecting the company's robust financial health and commitment to delivering shareholder value.
- Expansion of the Renewable and Capture Collections, featuring lab-grown diamonds created using 100% renewable energy and captured-carbon processes, respectively.
Brilliant Earth's dynamic work environment encourages collaboration and innovation. The company frequently organizes cross-departmental meetings and social events, fostering a culture where every team member has a voice and can contribute to the company's mission.
Financial Condition:
Brilliant Earth maintains a strong balance sheet, which allows it to seize new opportunities and continue its growth trajectory. The company's revenue primarily comes from the U.S. market, but it also has a significant presence in international markets.
For more information, visit the Brilliant Earth website.
Brilliant Earth (Nasdaq: BRLT) announced its Q2 2024 financial results. Net sales declined by 4% year-over-year (YoY) to $105.4 million, aligning with guidance. Despite this, the company saw a 3.6% increase in total orders and a 17% boost in repeat orders YoY. Fine jewelry bookings surged by 29%, and gross margin rose by 320 basis points to 60.8%.
The average selling price (ASP) fell by 7.7% YoY. Net income was $1.4 million, and GAAP diluted EPS was $0.01. Adjusted diluted EPS was $0.03, surpassing expectations. Adjusted EBITDA stood at $5.5 million, also exceeding guidance.
The company plans to open three new showrooms in H2 2024. The six-month results also show a 2.5% drop in net sales to $202.8 million, with a 4.4% rise in gross profit. For Q3, the company anticipates a YoY net sales decline of 11-14% and break-even to low single-digit adjusted EBITDA.
Brilliant Earth Group (NASDAQ: BRLT), a leader in ethically sourced fine jewelry, has announced its participation in the upcoming Sidoti Micro Cap Conference. The virtual event is scheduled for August 14-15, 2024. Company management will deliver a presentation on August 14 at 4:00pm ET and engage in investor meetings throughout the conference.
Interested parties can access a live webcast of the presentation through the 'Events and Presentations' section of Brilliant Earth's investor website. An archived replay will remain available for one year following the event, providing extended access to the company's insights and strategies.
Brilliant Earth Group, Inc. (NASDAQ: BRLT), a leader in ethically sourced fine jewelry, has announced its plans to report second quarter 2024 earnings on August 8, 2024, after market close. The company will host an investor conference call and webcast at 5:00pm ET/2:00pm PT on the same day to discuss financial results and business outlook. Investors can access the webcast at the company's investor website, while a unique registration link is provided for the conference call. A replay of the event will be available on the investor website after the live webcast concludes.
Brilliant Earth (Nasdaq: BRLT), a leader in ethically sourced fine jewelry, has launched its Signature Bridal Collections. These collections showcase proprietary designs inspired by nature, featuring Beyond Conflict Free™ diamonds in settings that highlight the company's craftsmanship.
The collections include the Secret Garden, Camellia, and Olivetta lines, each offering unique engagement rings and wedding bands. The designs range from floral motifs to vintage-inspired patterns, emphasizing Brilliant Earth's commitment to quality and customization through their 'Design Your Own' experience.
Brilliant Earth Group (NASDAQ: BRLT) announced participation in key investor events this June. On June 12, 2024, the company will present at the Sidoti Small Cap Conference virtually at 4:00pm ET and host investor meetings throughout the day. On June 14, 2024, they will attend the SHARE Series event at the New York Stock Exchange, with a fireside chat at 9:00am ET. From June 17-18, 2024, Brilliant Earth will be at the Jefferies Consumer Conference in Nantucket, Massachusetts, holding a breakout session at 8:00am ET on June 18 and scheduling investor meetings over both days. Live webcasts and replays of these presentations will be available on the company's investor relations website.
On May 22, 2024, Brilliant Earth, a global leader in ethically sourced fine jewelry, announced its participation in the TD Cowen 8th Annual Future of the Consumer Conference. The event will take place at the Conrad New York Downtown on June 5, 2024.
Brilliant Earth will host a fireside chat presentation at 11:30am ET and conduct investor meetings throughout the day. The presentation will be webcast live and accessible via the company's investor website, where the audio portion will remain available for a year.
Brilliant Earth Group (NASDAQ: BRLT) announced its participation in the 19th Annual Needham Technology, Media, & Consumer Conference. The event will be held virtually on May 16, 2024, with the company conducting investor meetings throughout the day. As a global leader in ethically sourced fine jewelry, this participation signifies Brilliant Earth's commitment to engaging with its investors and showcasing its business strategies and growth prospects.
Brilliant Earth Group, Inc. reports Q1 2024 results, with net sales of $97.3 million, a 13.7% increase in total orders and over 20% in repeat orders year-over-year. Gross margin increased to 59.9% and generated GAAP Diluted EPS of $0.01. Adjusted EBITDA was $5.1 million, exceeding expectations. The company reiterates fiscal 2024 guidance and plans to open 3 new showrooms. CEO Beth Gerstein is pleased with the company's performance and profitability, aiming to deliver on strategic and financial goals for the full fiscal year.
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