Black Rock Coffee Bar, Inc. · NASDAQ:BRCB
Black Rock Coffee Bar — Investor Presentation (March 2026)
25 slides from Black Rock Coffee Bar's investor presentation, March 2026
Slide 1: Investor Presentation
Investor Presentation March 2026 Fueling People Forward – One Connection, One Moment, One Cup at a Time
Slide 2: Disclaimer
Disclaimer This presentation does not constitute an offer or invitation for the sale or purchase of securities and has been prepared solely for informational purposes. Forward-Looking Statements This presentation contains a number of “forward-looking statements” as defined in the Private Securities
Slide 3: Our Mission
OUR MISSION To Fuel Your Story with Connection, Caffeine, and Community People-first organization that wins by fueling personal connections High-quality, premium coffee and caffeinated beverages Welcoming stores where communities come together 3
Slide 4: Why invest in BRCB?
Why invest in BRCB? Differentiated brand, culture and guest experience High-quality, premium caffeinated beverages with commitment to people-first culture Double-digit long-term growth algorithm One of the fastest growing beverage companies in the U.S. by revenue Attractive unit economics Exceptiona
Slide 5: Key milestones in our growth path
Key milestones in our growth path Opened first store Opened first Company in California store in Texas achieves 100 stores Black Rock Coffee Opened first Bar was founded by CAGR: ~20% stores in Arizona Daniel Brand and and Idaho Jeff Hernandez, 1000+2 when they opened the first store in Rodd Booth B
Slide 6: People First Culture
PEOPLE FIRST CULTURE: People-first organization that wins by fueling personal connections 6
Slide 7: Relentless focus on people and connections
Relentless focus on people and connections We are a people-first organization, and we win with authentic connections Daily interactions, from drive-thru windows to lobby visits, create “moments that matter” with our guests Team members make meaningful c internal connections through extensive trainin
Slide 8: Black Rock's people-first culture stands apart from corporate coffee
Black Rock's people-first culture stands apart from “corporate coffee” REWARD TOP QUARTILE MANAGEMENT Structured reward system based on top performance BUSINESS ACUMEN Foundation of operational excellence is long-term professional and personal development Performance-based approach valuing business
Slide 9: Customer Engagement
CUSTOMER ENGAGEMENT: High-quality, premium coffee and caffeinated beverages 9
Slide 10: We are passionate about delivering high-quality, premium coffee
We are passionate about delivering high-quality, premium coffee Premium Small Batch Fresh Premium Beans Roasting Delivery Beverage Commitment starts We focus on small Coffee is delivered We exclusively use with our exclusive batch roasting at our weekly and premium Rancilio use of premium two compan
Slide 11: Thoughtfully curated, highly customizable menu
Thoughtfully curated, highly customizable menu that balances approachability with personalization COFFEE & ESPRESSO ESPRESSO ICED S HOT OR ICED M L XL COFFEELESS COFFEELESS S M L XL FUEL S M L XL LATTE MOCHA HOT AMERICANO SMOOTHIE SMOOTHIE FIZZ FLAVORED FUEL FUEL TEAL AMERICANO AMERICANO FIZZ FIZZ I
Slide 12: Balanced day-part and by-day mix
Balanced day-part and by-day mix PRODUCT MIX1 DAYPART MIX1 BY-DAY MIX1 Off Work Iced / Frozen Fuel (4pm-7pm) Saturday 24% Midday 10% Early 17% (12pm-4pm) (Before 9am) Friday Sunday 25% 33% Food 16% 15% 12% Tea 6% Thursday Monday 14% 12% Coffee Coffeeless 55% 2% Work (9am- 12pm) Wednesday Tuesday 33%
Slide 13: Our strategy for menu development
Our strategy for menu development Innovation Maintain a relevant and exciting menu Seasonal offerings, leveraging trending flavors Crafting products with guest and partner insights Accessibility Convenient 90 seconds target order-to-delivery window Approachable and customizable Menu that resonates w
Slide 14: Marketing initiatives to drive brand growth
Marketing initiatives to drive brand growth Seasonal Campaigns & Loyalty Collaborations Six seasonal windows with Bi-weekly campaigns minimum, with strategically selected windows flexibility to scale based on SSS%1 and supported by curated influencer boxes SST%2 performance and paid influencer activ
Slide 15: Digital Loyalty
Building loyalty through our differentiated tech-enabled approach Digital Loyalty 1.9mm loyalty members since launch in June 2024 Our digital strategy is still in its early stages 65% of transactions are loyalty transactions Mobile orders reduce wait times, increase throughput, and showcase trending
Slide 16: Fueling our growth
Fueling our growth BLACKROCK SAME STORESALES(SSS) GROWTH1 Prior Year Quarter Current Quarter 10.9% 10.8% 9.5% 9.2% 9.5% 9.3% 8.6% 8.6% 7.6% 6.4% 3.9% 3.8% 3.9% 2.9% 3.1% 2.9% 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 4Q'25 2-year SSS 10.5% 10.3% 11.7% 13.3% 12.1% 14.8% 19.4% 19.6% 18.8% Growth 1 BRA
Slide 17: Expansion Strategy
EXPANSION STRATEGY: Welcoming stores where communities come together 17
Slide 18: Flexible format of store models meets guests where they are
Flexible format of store models meets guests where they are DRIVE-THRU LOBBIES MOBILE APPLICATION 3rd PARTY DELIVERY Hyper-Fast, Convenient Drive-Thrus Energized Lobbies Seamless Digital Experience ⚫ Drive-thru-first model across all ⚫ Modern, inviting spaces in 125 ⚫ Enables effortless ordering and
Slide 19: Focused growth within existing markets and strategic new market entry
Focused growth within existing markets and strategic new market entry EXISTING MARKETS1 TRANSITIONING TO NEW MARKETS 12 34 8 13 5 62 Our expansion strategy is designed to balance Established 47 near-term growth within Whitespace Growing our existing footprint Roasting Facility with disciplined entry
Slide 20: A disciplined approach to site selection and development
A disciplined approach to site selection and development CONFIDENTIAL Refined, data driven approach identifies high performing locations Flexible lease arrangements adapt to desirable sites Stores selected to maximize efficiency and grow AUV Ownership mindset drives team connection to enhance SSS% F
Slide 21: FY'25 Performance Highlights
FY’25 Performance Highlights (Year ended December 31, 2025) $200.3M 24.5% Total Revenue Total Revenue Growth (YoY) 10.1% $58.5M 29.2% Same Store Sales Store-Level Profit1 Store-Level Profit Margin1 Growth (YoY) $27.5M 13.7% Adj. EBITDA1 Adj. EBITDA Margin1 181 Total Stores2 Established Growing White
Slide 22: 2026 Fiscal Year Outlook
2026 Fiscal Year Outlook Metric Guidance New Store Openings 36 Units Total Revenue $255 to $257 Million Same Store Sales Mid-Single Digits Growth Consolidated Adjusted $33.5 to $34.5 Million EBITDA1 Capital Expenditures $40 to $41 Million including tenant improvement allowances Note:1 A reconciliati
Slide 23: Long-term growth targets
Long-term growth targets Store Unit Growth Same Store Sales 20%+ Mid-Single Digits Revenue Growth Adj. EBITDA Growth Higher than 20%+ Revenue Growth Note: The long-term growth targets are not projections of future performance, but are forward-looking goals and subject to significant business, econom
Slide 24: Adjusted EBITDA reconciliation
Adjusted EBITDA reconciliation Store Unit Growth Same Store Sales 20%+ Mid-Single Digits Revenue Growth 20%+ Note: Adjusted EBITDA is net loss adjusted to exclude interest expense, net, income tax expense, and depreciation and amortization, further adjusted to exclude certain items that we do not co
Slide 25: Store-Level Profit reconciliation
Store-Level Profit reconciliation Store Unit Growth Same Store Sales 20%+ Mid-Single Digits Revenue Growth Adj. EBITDA Growth Higher than 20%+ Revenue Growth Note: Store-Level Profit represents store revenue in the specific period less beverage, food and packaging, labor and related expenses, occupa
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