Brilliant Earth Posts Record $124.4M Q4 Sales with 34% Booking Gain
Brilliant Earth delivered record Q4 net sales of $124.4 million, driving a 34% year-over-year increase in fine jewelry bookings and 4% net sales growth. The company maintained a 55.9% fourth-quarter gross margin despite metal price and tariff headwinds and achieved adjusted EBITDA above midpoint guidance.
1. Fourth Quarter Results
Brilliant Earth reported net sales of $124.4 million in Q4 2025, up 4.1% year-over-year, marking its largest quarter ever. Total orders rose 6.5% to 62,178 with an average order value of $2,001, while adjusted EBITDA reached $4.2 million, exceeding the midpoint of guidance despite a GAAP net loss of $1.3 million.
2. Fiscal Year 2025 Performance
For fiscal 2025, net sales reached $437.5 million, up 3.6%, with total orders climbing 13% to 210,158 and repeat orders up 13%. The company sustained a 57.5% gross margin and generated $12.0 million in adjusted EBITDA, though it recorded a GAAP net loss of $6.4 million.
3. Margin and Expense Management
Gross margins held at 55.9% in Q4 and 57.5% for the full year despite precious metal price and tariff headwinds. Marketing expense leverage improved by 150 basis points year-over-year, reflecting strategic brand investments that supported growth while controlling costs.
4. 2026 Outlook and Guidance
The company forecasts mid-single-digit net sales growth for Q1 and full year 2026, with a negative mid-single-digit adjusted EBITDA margin in Q1 and profitable adjusted EBITDA for the year, slightly below 2025 levels. This outlook assumes current metal prices, underscoring confidence in continued market share gains.