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Brilliant Earth Group Inc. (BRLT) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports net sales of $422.2 million, a decrease from $446.4 million in 2023. This decline is attributed to a decrease in average order value, despite an increase in order volumes.
Cost of sales was $167.8 million, representing 39.7% of sales, compared to 42.4% in the previous year. The decrease in cost ratio is due to pricing optimization and procurement efficiencies.
The company reported a gross profit of $254.4 million, with a gross margin of 60.3%, up from 57.6% in 2023.
Operating expenses were $251.1 million, slightly down from $252.5 million in the previous year. Marketing expenses decreased by 9.2% due to improved efficiency, while general and administrative expenses increased by 7.2%.
Net income for the year was $4.0 million, compared to $4.7 million in 2023. Net income margin was 0.9%, down from 1.1% the previous year.
Adjusted EBITDA was reported at $21.1 million, with a margin of 5.0%, compared to $26.2 million and 5.9% in 2023.
The company ended the year with $161.9 million in cash and cash equivalents and negative working capital of $28.7 million, excluding cash.
Brilliant Earth Group Inc. continues to focus on expanding its omnichannel presence and product offerings, with plans for further international expansion.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Brilliant Earth Group Inc. annual 10-K report dated March 13, 2025. To report an error, please email earnings@qz.com.