Brilliant Earth Group (BRLT) investor relations material

Executive summary

• Q2 2026 net sales reached $115.1 million, up 6% year-over-year, surpassing guidance, with fine jewelry bookings growing 32% and now 18% of total bookings.

• Adjusted EBITDA for Q2 was $5.8 million (5.0% margin), up 81.3% year-over-year and exceeding guidance.

• Gross margin was 57.9%, down 40 bps year-over-year but up 360 bps sequentially from Q1.

• Ended Q2 with $75 million in cash and no debt, a $16 million sequential increase in cash.

• Opened the 43rd showroom in San Antonio, expanding the flagship concept and experiential retail strategy.

Financial highlights

• Q2 2026 net sales: $115.1M (+5.7% y/y); six-month net sales: $214.6M (+5.8% y/y).

• Q2 average order value: $2,238, up 7.9% year-over-year; total Q2 orders: 51,442, down 2.1% year-over-year.

• Q2 adjusted EBITDA: $5.8M (5.0% margin); six-month adjusted EBITDA: $1.1M (0.5% margin).

• Operating expense was 57.5% of net sales, down from 59.4% in Q2 2025; marketing expense was 22.8% of net sales, down 130 bps year-over-year.

• Cash and cash equivalents as of June 30, 2026, were $74.9 million.

Outlook and guidance

• Full-year 2026 net sales guidance: $459–$462M; Adjusted EBITDA guidance: $13–$15M.

• Q3 2026 net sales expected to be flat year-over-year; Adjusted EBITDA guidance: $3–$5M.

• Gross margin for H2 expected in the mid to high 50s percentage range, assuming stable metal prices and tariffs.

• Guidance assumes current tariffs and metal prices as of August 4, 2026.

• Management expects sufficient liquidity to meet operating and tax distribution requirements for at least the next 12 months.