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BRLT Nasdaq· Brilliant Earth Group Inc.
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BRLT Nasdaq· Brilliant Earth Group Inc.
Earnings report Q3 2023

BRLT Reports Modest Revenue Growth in Latest Quarter

Segments of revenue

BRLT reported net sales of $114.2 million for the three months ended September 30, 2023, representing a 2.5% increase compared to the same period last year.

Strengths

Despite a challenging economic environment, BRLT managed to achieve modest revenue growth in the latest quarter. This growth can be attributed to the company's ability to capture a larger market share and capitalize on the significant market opportunity it operates in.

Challenges

BRLT experienced a decline in net income, which decreased by 65.1% to $2.0 million compared to the same quarter last year. The net income margin also decreased from 5.1% to 1.8%. Additionally, adjusted EBITDA declined by 23.5% to $7.6 million, with the adjusted EBITDA margin decreasing from 8.9% to 6.7%. These declines indicate potential challenges in managing costs and maintaining profitability.

Noteworthy

It is worth noting that BRLT's revenue growth in the latest quarter was relatively modest compared to previous periods. The company's net income and adjusted EBITDA also experienced significant declines, which may raise concerns about its overall financial performance.

Summary

BRLT reported a modest increase in net sales for the latest quarter, indicating some growth in its revenue. However, the company faced challenges with declining net income and adjusted EBITDA, suggesting potential difficulties in managing costs and maintaining profitability. BRLT will need to address these challenges to ensure sustainable financial performance in the future.

Source documents

Form 10-Q  filed on Nov 09, 2023
9 pages scanned

Reference data

Company financials Q3 revenue 124M
Analyst estimates Q3 EPS beat by 7.53%
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