BRLT 8-K: Brilliant Earth Q2 net sales $110.2M (+1.3%), adjusted EPS $0.04; raises FY profitability outlook

Brilliant Earth Q2 net sales $110.2M (+1.3%), adjusted EPS $0.04; raises FY profitability outlook

Brilliant Earth Group, Inc.

2023-Q2 EPS reported $0.01 revenue$207,882,000

Net sales $110.2M (+1.3% YoY); orders rose 21.2% to 42,849, AOV fell 16.4% to $2,571.

Gross margin expanded 450 bps to 57.6%; net income $1.2M (down from $3.8M YoY).

Adjusted EBITDA $7.7M (margin 7.0%) vs $9.6M in Q2 2022; GAAP diluted EPS $0.01.

Opened 4 new showrooms in Q2, total U.S. showroom count 32 as of June 30, 2023.

Company raises fiscal 2023 profitability guidance, citing strong brand resonance and cost efficiencies.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Brilliant Earth Group, Inc. reported three months ended June 30, 2023 results: revenue $110.2 million, net income $1.2 million, EPS $0.01 per diluted share. Guidance raised.

Period: three months ended June 30, 2023
Revenue: $110.2 million
Net income: $1.2 million
EPS: $0.01 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Second Quarter 2023 Financial Highlights • Net sales were $110.2 million, compared to $108.8 million in the second quarter of 2022, with 21.2% growth in Total Orders partially offset by a 16.4% decrease in AOV. • Gross profit was $63.5 million, or a 57.6% gross profit margin, compared to $57.8 million, or a 53.1% gross profit margin in the second quarter of 2022. • Net income was $1.2 million, compared to net income of $3.8 million in the second quarter of 2022. • Adjusted net income was $4.0 million, compared to $6.0 million in the second quarter of 2022 (3) . • Adjusted EBITDA was $7.7 million, compared to $9.6 million in the second quarter of 2022 (3) . 1 Second Quarter Results Q2 2023 Q2 2022 % Change Total Orders 42,849 35,366 21.2% AOV $ 2,571 $ 3,077 (16.4)% ($ in millions, except per share amounts) Net Sales $ 110.2 $ 108.8 1.3% Net income allocable to Brilliant Earth Group, Inc. (1) $ 0.1 $ 0.4 (75.0)% Net income, as reported $ 1.2 $ 3.8 (67.1)% Net income margin 1.1% 3.4% (67

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