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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 Group, Inc. (Nasdaq: BRLT) reported a 17.0% increase in net sales to $111.4 million for Q3 2022, driven by strong omnichannel performance. Gross margin improved to 54.7%, up 430 basis points year-over-year. The company generated a net income of $5.7 million and adjusted EBITDA of $10.0 million, although adjusted net income and EBITDA declined compared to Q3 2021. For the nine months ended September 30, 2022, net sales grew 24.0% to $320.3 million, but net income decreased to $12.8 million. The company updated its revenue outlook for FY 2022, expecting total sales between $436 million and $446 million.
Brilliant Earth Group, a leader in ethically sourced fine jewelry, has expanded its retail presence in the U.S. with the opening of its 23rd showroom in Palo Alto, California, and its 24th in Baltimore, Maryland. This growth aims to enhance customer experience through personalized service in an attractive brick-and-mortar format, alongside its e-commerce platform. With these new locations, Brilliant Earth aims to cater to holiday shoppers seeking thoughtful gifts and engagement options, further solidifying its commitment to ethical practices in the jewelry industry.
Brilliant Earth Group, Inc. (Nasdaq: BRLT) will announce its third quarter 2022 earnings results on November 10, 2022, after market close. The company will host an investor conference call at 5:00 PM ET to discuss the financial results and future outlook. The call and webcast can be accessed via their investor relations website. Brilliant Earth is a leader in ethically sourced fine jewelry, operating 23 showrooms and serving customers in over 50 countries as part of its commitment to transparency and sustainability in the jewelry industry.
Brilliant Earth Group (Nasdaq: BRLT) announced its Green Mining project aimed at establishing a certified Fairmined Ecological Gold Supply Chain from the Peruvian Amazon. This initiative, developed with non-profit Pure Earth and the Alliance for Responsible Mining, seeks to reduce mercury use in gold mining—one of the leading causes of global mercury emissions. Over 50 miners are being trained for mercury-free techniques, supported by a $300,000 grant from Brilliant Earth Foundation. The goal is to create a sustainable and ethical gold supply chain while rehabilitating environmentally damaged areas.
Brilliant Earth Group (Nasdaq: BRLT) has unveiled its new Cocktail Ring Collection, inspired by 1920s fashion, featuring 21 unique rings made from natural and lab-grown gemstones set in recycled metals. Ranging from $2,000 to $8,000, the collection emphasizes bold self-expression and timeless design, targeting Gen Z and Millennials. Select pieces have pre-launched on the virtual platform ZEPETO, enhancing Brilliant Earth's omnichannel experience. This collection is poised to resonate with consumers seeking modern heirlooms that make a statement.
Brilliant Earth (NASDAQ: BRLT), a leader in ethically sourced jewelry, will attend the Raymond James 2022 Consumer Conference in New York City on September 15, 2022. The company is set to host a fireside chat at 2:20 PM ET and conduct investor meetings throughout the day. The presentation will be available via live webcast on the company’s Investor Relations website, with an archived version accessible for 90 days post-event. Brilliant Earth continues its mission to promote transparency and sustainability within the jewelry industry, serving customers in over 50 countries.
Brilliant Earth Group announces the opening of its 21st and 22nd showrooms in Detroit and St. Louis, respectively, as part of its expansion strategy. This digital-first fine jewelry retailer, renowned for its ethically sourced pieces, also introduces the Truly Brilliant™ Collection. This exclusive assortment features sustainable diamonds, each verified for quality and origin, including modern lab-grown options. With these new locations, Brilliant Earth aims to enhance customer engagement through personalized experiences and a seamless online-offline shopping transition.
Brilliant Earth Group, Inc. (Nasdaq: BRLT) reported strong financial results for Q2 2022, with net sales increasing by 17.8% to $108.8 million compared to Q2 2021. The gross margin expanded to a record 53.1%, up 460 basis points. Despite this growth, net income decreased by 55.8% to $3.8 million. Adjusted EBITDA was $9.6 million, a 33.6% drop from the previous year. The company reaffirmed its fiscal 2022 outlook with expected net sales between $450 million and $470 million.
Brilliant Earth Group, Inc. (Nasdaq: BRLT) will announce its second quarter 2022 earnings on August 11, 2022, after market close. The Company will host a conference call at 5:00 PM ET to discuss the financial results. As a leader in ethically sourced fine jewelry, Brilliant Earth operates 20 showrooms and serves customers in over 50 countries. This earnings release is anticipated to provide key financial insights for investors and stakeholders.
Brilliant Earth has launched the Reflections Collection, a 21-piece assortment of bridal and fine jewelry inspired by nature's mirrored designs. This collection features seven engagement rings, six wedding bands, and eight fine jewelry items, emphasizing unique designs with ethical sourcing. Prices range from $795 to $12,000, available from July 7, 2022, online and at showrooms. Each piece incorporates diamond accents and is customizable with ethically sourced gems, showcasing Brilliant Earth's commitment to innovation and sustainability in the jewelry industry.
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