Brilliant Earth Group (BRLT) Q1 2026 earnings summary

Executive summary

• Net sales reached $99.5 million in Q1 2026, up 6% year-over-year and at the high end of guidance, surpassing analyst consensus.

• Fine jewelry bookings surged 33% year-over-year, now 17% of total bookings, reflecting successful diversification beyond bridal.

• Gross margin was 54.3%, within the mid-50s target, despite high metal prices and tariffs.

• Adjusted EBITDA was negative $4.7 million, in the upper half of guidance; GAAP net loss was $8.5 million.

• Opened first flagship showroom in Beverly Hills, with strong initial retail orders and foot traffic.

Financial highlights

• Net sales: $99.5 million, up 6% year-over-year, with total orders up 2.5% to 46,692 and AOV rising 3.3% to $2,131.

• Gross profit was $54.1 million, down 1.6% year-over-year; gross margin declined 430 basis points to 54.3%.

• Adjusted EBITDA: -$4.7 million (margin -4.7%).

• Net loss margin widened to 8.5% from 3.5% year-over-year.

• Marketing expense as a percentage of net sales improved by 90 basis points year-over-year.

Outlook and guidance

• Q2 2026 net sales expected to grow low single digits year-over-year; Adjusted EBITDA guidance of $0.5–$2 million.

• Full-year 2026 net sales expected to grow mid-single digits; gross margin to remain in mid-50s; profitability expected but slightly lower than 2025.

• Most adjusted EBITDA expected in Q4 due to seasonality.

• Continued marketing leverage and selective investments in technology, showrooms, and omnichannel growth.

• Outlook assumes metal prices as of May 5, 2026.