Brilliant Earth Group, Inc. · NASDAQ:BRLT
Brilliant Earth — Q4 2025 Earnings Presentation
34 slides from Brilliant Earth's earnings presentation, Mar 5, 2026
Slide 1: Fourth Quarter and Full Year 2025 Financial Results
Fourth Quarter and Full Year 2025 Financial Results March 5, 2026
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 Q4 & Full Year 2025 Results 19 2026 Priorities and Outlook 28 Appendix 31 Ring Pop Collaboration 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: Our Opportunity & Differentiators
1 VAST INDUSTRY THAT IS RIPE FOR DISRUPTION Our Opportunity & 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 JOYFUL, SEAMLESS SHOPPING EXPERIENCE 5 O
Slide 7: Vast Industry Ripe For Disruption
Vast Industry Ripe For Disruption ▪ ~$350B, fragmented global jewelry market projected to grow at ~5% CAGR from 2025 to 20301 ▪ 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 si
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: Beautiful, Trend-Leading Product Assortment
Beautiful, Trend-Leading Product Assortment Engagement Rings Wedding & Anniversary Bands Gemstone Rings Fine Jewelry 9
Slide 10: Proprietary Design Collections
Proprietary Design Collections Signature Bridal Collections The Jane Goodall Collection The Sol Collection Medallions With Meaning The Love Decoded Collection Pacific Green Lab Diamonds 10
Slide 11: 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 12: 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 Q4 2025 significantly higher than industry
Slide 13: 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 14: 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 15: 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 Adj to digital platform exterior shot ▪ Premium, personalized luxury experience curated for customer preferences ▪ Appointment or wal
Slide 16: Meet Our Next-Gen Fine & Bridal Jewelry Customer
Meet Our Next-Gen Fine & Bridal Jewelry Customer ▪ 25-44 years old Our Primary ▪ HHI $100K-$200K+ annually Audience ▪ Educated young professionals ▪ Couples shopping together, gift givers, and self-purchasers ▪ Masters of multi-channel media and culture Digital ▪ Expects continuity across all touchp
Slide 17: Media, Social & Celebrity
Media, Social & Celebrity We've cultivated high-value celebrity and influencer partnerships rooted in authentic brand affinity. Miley Cyrus Beyoncé Madison Keys Selena Gomez Sabrina Carpenter Brittany Snow Halsey Brilliant Earth Aims To Be The Next-Generation Jeweler 17
Slide 18: 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 19: Q4 and Full Year 2025 Results
Q4 and Full Year 2025 Results 19
Slide 20: Fourth Quarter 2025: Financial Highlights
Fourth Quarter 2025: Financial Highlights $124.4M $2,001 +6.5% +15% Net Sales Average Order Value Y/Y Total Orders Y/Y Repeat Orders +4.1% Y/Y 55.9% 150 bps $4.2M / 3.3% $79.1M Y/Y Marketing Expense Gross Margin Leverage* Adjusted EBITDA/Margin Cash *As percentage of Net Sales See Appendix for a rec
Slide 21: Full Year 2025: Financial Highlights
Full Year 2025: Financial Highlights $437.5M $2,082 +13% +13% Net Sales Average Order Value Y/Y Total Orders Y/Y Repeat Orders +3.6% Y/Y 57.5% 150 bps $12M / 2.7% $79.1M Y/Y Marketing Expense Gross Margin Leverage* Adjusted EBITDA/Margin Cash *As percentage of Net Sales See Appendix for a reconcilia
Slide 22: Fourth Quarter 2025 Highlights and Key Achievements
Fourth Quarter 2025 Highlights and Key Achievements ▪ Drove Net Sales of $124.4M, a 4.1% y/y growth, within Company guidance range ▪ Achieved largest quarter of Net Sales in Company history ▪ Drove 34% y/y growth in fine jewelry bookings, representing 23% of total bookings mix ▪ Delivered $4.2M of A
Slide 23: Fourth Quarter & Full Year 2025 Financial Summary
Fourth Quarter & Full Year 2025 Financial Summary Q4 NET SALES ($ MILLIONS) Q4 GROSS MARGIN ($ MILLIONS) Q4Q4 ADJUSTED ADJUSTEDEBITDA EBITDA ($($MILLIONS) MILLIONS) $119.5 $124.4 59.6% 55.9% $4.2 $71.2 Q4 2025 $69.5 Q4 2024 Q4 2025 Q4 2024 Q4 2025 3.3% OF NET SALES +4.1% Y/Y -370bps Y/Y FULL YEAR NE
Slide 24: Fourth Quarter & Full Year 2025 Financial Results
Fourth Quarter & Full Year 2025 Financial Results ▪ Continued order growth demonstrates efficiency of Q4 AVERAGE ORDER VALUE Q4 TOTAL ORDERS (IN THOUSANDS) 62.2 customer acquisition and retention, brand resonance, 58.4 $2,048 and strong omnichannel performance across our $2,001 products ▪ AOV reflec
Slide 25: Premium Product Collections and Campaigns Driving Strong Results
Premium Product Collections and Campaigns Driving Strong Results ▪ Record bookings penetration in fine jewelry, reaching 23% and 17% of bookings in Q4 and full year 2025, respectively ▪ Outperformance from signature and iconic fine jewelry collections ▪ Drove 61% y/y bookings growth in lab diamond f
Slide 26: Business Model Drives Inventory Turns and Efficient Working Capital
Business Model Drives Inventory Turns and Efficient Working Capital ▪ Design Your Own model and virtual inventory of hundreds of thousands of natural & lab-grown diamonds offers broad range of options for customers, while keeping balance sheet inventory low ▪ Inventory turns of 4x as of Q4 2025 sign
Slide 27: History of Net Sales and Order Growth
History of Net Sales and Order Growth NET SALES ($ MILLIONS) TOTAL ORDERS (IN THOUSANDS) 14% 23% 6yr CAGR 6yr CAGR $440 $446 $422 $437 210 $380 186 175 150 $252 118 $201 80 62 2019 2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 2023 2024 2025 27
Slide 28: 2026 Priorities and Outlook
2026 Priorities and Outlook 28
Slide 29: 2026 Priorities
2026 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 30: 2026 Outlook
2026 Outlook First Quarter Positive Mid-single-digit Negative % Y/Y Mid-single-digit % NET SALES GROWTH ADJUSTED EBITDA MARGIN Fiscal Year Positive Mid-single-digit Profitable, slightly lower % Y/Y than 2025 NET SALES GROWTH ADJUSTED EBITDA $ Outlook assumes metal prices as of March 4, 2026. 30 Prot
Slide 31: Appendix
Appendix 31
Slide 32: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN Three months ended Years ended December 31, December 31, 2222222 2022 (Unaudited and $ in 000’s) 2025 2024 2025 2024 2222 002 Net (loss) income, as reported $(1,348) $2,627 $(6,400) $3,994 Interest expense _ 1,204 2,282 5,03
Slide 33: Reconciliation of Operating Cash Flow to Free Cash Flow
Reconciliation of Operating Cash Flow to Free Cash Flow Full Year Ending December 31, (Unaudited and $ in 000’s) 2025 Net cash provided by operating activities $9,718 Net cash used in investing activities (3,966) Free cash flow $5,752 33
Slide 34: Brilliant Earth
BRILLIANT EARTH’
Brilliant Earth Group — Q4 2025 Earnings Presentation on 6ix