Brilliant Earth Group, Inc. · NASDAQ:BRLT
Brilliant Earth — Brilliant Future — Q3 2025 Earnings Presentation
32 slides from Brilliant Earth's earnings presentation, Nov 5, 2025
Slide 1: Third Quarter 2025 Financial Results
Third Quarter 2025 Financial Results November 5, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements This Presentation and statements to be made on the earnings conference call (collectively, the “Presentation”), contain forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements containe
Slide 3: Table of Contents
Table of Contents Company Overview 4 Q3 2025 Results 17 2025 Priorities and Outlook 25 Appendix 29 3
Slide 4: The Next Generation Fine Jeweler for Today’s Consumer
EM NOTE – The Next Generation Fine Jeweler EM updated DOES THIS LOOK BLURRY??? for Today’s Consumer Brilliant Earth is a global leader in fine jewelry. We are successfully executing our strategy to transform and modernize the jewelry industry. Ca pit al E Mission-Driven fficie Ethos nt Personalized,
Slide 5: Our Path to Becoming the Next Generation Fine Jeweler
Our Path to Becoming the Next Generation Fine Jeweler Amplifying Our Our Our Our Our Differentiators Mission Product Experience Platform Integrating & Executing Across Brand Product Experience Three Critical Growth Priorities Build Brilliant Earth into the Create distinctive, Deliver distinctive and
Slide 6: Brilliant Earth’s Competitive Advantages
Brilliant Earth’s & 1 VAST INDUSTRY THAT IS RIPE FOR DISRUPTION Our Opportunity Competitive Advantages Differentiators 2 AGILE BUSINESS MODEL THAT CAN SWIFTLY ADAPT 3 USING DATA AND AI TO INFORM DECISION-MAKING ASSET LIGHT MODEL NOT BURDENED BY HOLDING EXCESS INVENTORY 4 OMNICHANNEL MODEL PROVIDES A
Slide 7: Vast Industry Ripe For Disruption
Vast Industry Ripe For Disruption ▪ ~$350B, fragmented global jewelry market projected to grow at 4% CAGR from 2024 to 20291 ▪ Bridal purchases are an enduring, resilient tradition with ~2M annual marriages in the US2 ▪ Today, Brilliant Earth represents under 1% of the global bridal market, with sig
Slide 8: Major Milestones Throughout Our 20-year History
Major Milestones Throughout Our 20-year History 2024 $422m in 2005 2008 2013 2017 2022 Net Sales Jane Goodall Founded in San Early adopter >$25m in Net Sales >$100m in Fairmined gold partnership and Francisco of social media Net Sales partnership collection Launched Australian website Launched UK Op
Slide 9: Design Leadership & Scalable Personalization Capabilities
Design Leadership & Scalable Personalization Capabilities Unique, award-winning, proprietary designs ▪ In-house, award-winning design team ▪ Innovative, curated, and proprietary collections Agile product development ▪ Customer-insight and trend driven ▪ Fast, data-driven development cycle Innovative
Slide 10: Asset Light Inventory Model
Asset Light Inventory Model ▪ Design Your Own make to order model and vast virtual inventory of hundreds of thousands of natural and lab-grown diamonds offers broad consumer selection, while keeping balance sheet inventory low ▪ Inventory turns of 4x as of Q3 2025 significantly higher than industry
Slide 11: Globally Diversified Supply Chain
Globally Diversified Supply Chain ▪ A highly diversified supply chain that reduces dependence on any one geography. A HIGHLY DIVERSIFIED SUPPLY CHAIN THAT REDUCES ▪ Broad and DEPENDENCE deep ON ANY network ONE of longstanding, GEOGRAPHY trusted supplier relationships. ▪ Agile, tech-enabled business
Slide 12: Technology Enabled, Data-Driven Business Model
Technology Enabled, Data-Driven Business Model Tech-enabled data analysis drives curated Customer interactions are tracked and analyzed in product assortment in-store and online an integrated CRM / ERP system Refined testing and sophisticated algorithms Rapidly growing customer base resulting in lar
Slide 13: Omnichannel Excellence
Omnichannel Excellence We have pioneered a seamless, omnichannel premium shopping experience with an efficient footprint of 42 showrooms in the U.S. and an innovative digital platform Delightful ▪ Premium, personalized luxury experience curated for customer preferences Showroom ▪ Appointment or walk
Slide 14: Meet Our Next-Gen Fine & Bridal Jewelry Customer
Meet Our Next-Gen Fine & Bridal Jewelry Customer Our Primary ▪ 25-44 years old Audience ▪ HHI $100K-$200K+ annually ▪ Educated young professionals ▪ Couples shopping together, gift givers, and self-purchasers Digital ▪ Masters of multi-channel media and culture DNA ▪ Expects continuity across all to
Slide 15: Media, Social & Celebrity
Media, Social & Celebrity We've cultivated high-value celebrity and influencer partnerships rooted in authentic brand affinity. Media, Social & Celebrity Sydney Sweeney Ayo Edibiri Laura Harrier Charli D’Amelio Selena Gomez Sabrina Carpenter Brilliant Earth Aims To Be The Next-Generation Jeweler 15
Slide 16: Impact Through Action
Impact Through Action With the Brilliant Earth Foundation, we're building a legacy of positive impact across our supply chain and communities. Responsible Social Climate Sourcing Impact Action Strengthening Leading planet-first Setting new standards for communities through initiatives that drive ind
Slide 17: Q3 2025 Results
Q3 2025 Results 17
Slide 18: Third Quarter 2025: Financial Highlights
Third Quarter 2025: Financial Highlights $110.3M $2,209 +17% +16% Net Sales Average Order Value Y/Y Total Orders Y/Y Repeat Orders +10.4% Y/Y 57.6% $3.6M / 3.2% 17 $73.4M Gross Margin Adjusted EBITDA/Margin Consecutive Quarters of Cash Positive Adj. EBITDA See Appendix for a reconciliation from Net
Slide 19: Third Quarter 2025 Highlights and Key Achievements
Third Quarter 2025 Highlights and Key Achievements ▪ Drove Net Sales of $110.3M, a 10.4% y/y growth, exceeding Company guidance range ▪ Delivered $3.6M of Adjusted EBITDA, within Company guidance, and the 17th consecutive quarter of profitability as a public company ▪ Achieved return to y/y growth i
Slide 20: Third Quarter & Nine Months Fiscal Year 2025 Financial Summary
Third Quarter & Nine Months Fiscal Year 2025 Financial Summary Q3 NET SALES ($ MILLIONS) Q3 GROSS MARGIN ($ MILLIONS) Q3 ADJUSTED EBITDA ($ MILLIONS) Within medium-term target $3.6 $110.3 60.8% $99.9 57.6% $60.8 Q3 2025 $63.5 Q3 2024 Q3 2025 Q3 2024 Q3 2025 3.2% OF NET SALES +10.4% Y/Y -320bps Y/Y N
Slide 21: Third Quarter & Nine Months Fiscal Year 2025 Financial Results
Third Quarter & Nine Months Fiscal Year 2025 Financial Results ▪ Continued order growth demonstrates efficiency of Q3 AVERAGE ORDER VALUE Q3 TOTAL ORDERS (IN THOUSANDS) customer acquisition and retention, brand resonance, $2,337 49.9 $2,209 and strong omnichannel performance across our 42.7 products
Slide 22: Premium Product Collections and Campaigns Driving Strong Results
Premium Product Collections and Campaigns Driving Strong Results ▪ Grew bookings y/y across the assortment, including growth in engagement rings and double-digit growth in wedding and anniversary bands ▪ Increased y/y bookings from Signature engagement ring collections by nearly three times more tha
Slide 23: Business Model Drives Inventory Turns and Efficient Working Capital
Business Model Drives Inventory Turns and Efficient Working Capital ▪ Design Your Own model and virtual inventory of hundreds of thousands of natural & lab-grown diamonds offers broad range of options for customers, while keeping balance sheet inventory low ▪ Inventory turns significantly higher tha
Slide 24: History of Net Sales Growth and Gross Margin Expansion
History of Net Sales Growth and Gross Margin Expansion NET SALES ($ MILLIONS) TOTAL ORDERS (IN THOUSANDS) 16% 25% 5yr CAGR 5yr CAGR $440 $446 175 186 $422 $380 150 118 $252 $201 80 62 2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024 GROSS PROFIT MARGIN % 60% 58% 53% 49% 45% 42% 2019 2020
Slide 25: 2025 Priorities and Outlook
2025 Priorities and Outlook 25
Slide 26: 2025 Priorities
2025 Priorities 1 TRUSTED JEWELER FOR TODAY’S AND TOMORROW’S CONSUMER CONTINUE ON OUR PATH TO BECOME THE WORLD’S MOST LOVED AND 2 CREATE DISTINCTIVE, OWNABLE COLLECTIONS THAT BLEND INNOVATIVE, PERSONALIZED DESIGN WITH MASTERFUL CRAFTSMANSHIP DELIVER DISTINCTIVE OMNICHANNEL EXPERIENCES THAT DELIGHT 3
Slide 27: 2025 Outlook
2025 Outlook Fiscal Year +3% to 4.5% Y/Y 2% to 3% NET SALES GROWTH ADJUSTED EBITDA MARGIN 27 Peyton Engagement Ring with Emerald Pacific Green Lab Diamond
Slide 28: Medium-Term Targets
Medium-Term Targets 1 NET SALES GROWTH RATE: ACCELERATE TO LOW TEENS Y/Y GROWTH RATE IN 2027 2 GROSS MARGIN: HIGH 50s % THROUGH 2027 3 MARKETING % OF NET SALES: CONTINUE DECREASING FROM 2025 TO 2027 4 ADJUSTED EBITDA MARGIN: INCREASE TO DOUBLE DIGIT MARGIN IN 2027 Jane Goodall Olive Branch Lab Diamo
Slide 29: Appendix
Appendix 29
Slide 30: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN Three months ended Nine months ended September 30, September 30, 2222222 2022 (Unaudited and $ in 000’s) 2025 2024 2025 2024 2222 002 Net (loss) income, as reported $(672) $(1,075) $(5,052) $1,367 Interest expense 272 1,320
Slide 31: Reconciliation of Operating Cash Flow to Free Cash Flow
Reconciliation of Operating Cash Flow to Free Cash Flow Trailing twelve months ended September 30, (Unaudited and $ in 000’s) 2025 2024 Net cash provided by operating activities $16,642 $14,204 Net cash used in investing activities (4,670) (3,945) Free cash flow $11,972 $10,259 31
Slide 32: Brilliant Earth
BRILLIANT EARTH’