Brilliant Earth Reports Strong Q3 Results Exceeding High End of Net Sales Guidance and 17th Consecutive Quarter of Positive Adjusted EBITDA

Delivered Y/Y Net Sales Growth of 10.4%Drove Y/Y Bookings Growth in Engagement RingsAchieved 45% Y/Y Bookings Growth in Fine JewelryDelivered 57.6% Gross Margin SAN FRANCISCO, Nov. 05, 2025 (GLOBE NEWSWIRE) -- Brilliant Earth Group, Inc. (“Brilliant Earth” or the “Company”) (Nasdaq: BRLT), an innovative, global leader in ethically sourced fine jewelry, today announced financial results for the three and nine months ended September 30, 2025. Third Quarter 2025 Highlights (quarterly period ended September 30, 2025): Delivered Third Quarter Net Sales of $110.3 million, a 10% year-over-year growth, exceeding the Company's guidance range Achieved a return to year-over-year bookings growth in engagement rings with an increase in ASP quarter over quarterDelivered highest-ever wedding and anniversary band bookings with double-digit year-over-year bookings growthDrove 45% year-over-year fine jewelry bookings growth Achieved Gross Margin of 57.6% in the third quarter, consistent with the Company's medium-term target, demonstrating agility of the Company's business model in a dynamic macro environmentDrove 17th consecutive quarter of positive Adjusted EBITDAQ3 profitability within the Company's Adjusted EBITDA guidance range: GAAP Net loss was $0.7 million for the third quarter 2025; andAdjusted EBITDA was $3.6 million for the third quarter 2025 Celebrated "Twenty Years of Yes" with launch of 20th Anniversary and exclusive Pacific Green Diamond collections "We had a great quarter with results that demonstrate our ability to continue to gain market share and deliver strong performance across the business. Net Sales exceeded our guidance, driven by solid consumer demand, while strong gross margins in the face of all-time-high metal prices and a challenging tariff environment, combined with impressive marketing leverage contributed to another consecutive quarter of profitability," said Beth Gerstein, Co-Founder and Chief Executive Officer of Brilliant Earth. "By delivering positive, accelerating bookings growth across the assortment, including a return to engagement ring bookings growth and 45% year-over-year bookings growth in fine jewelry, we continue to be the premier jewelry brand for both today's and tomorrow's consumer. We feel confident that our premium brand, products, and experience are driving strong consumer demand as we enter the holiday season and beyond." Third Quarter Results Q3 2025 Q3 2024 % Change*Total Orders 49,910 42,744 16.8%AOV$2,209 $2,337 (5.5)%($ in millions, except per share amounts) Net Sales$110.3 $99.9 10.4%Gross Profit$63.5 $60.8 4.4%Gross Margin 57.6% 60.8% (320)bpsNet loss allocable to Brilliant Earth Group, Inc.(1)$(0.1)$(0.1) —%Net loss, as reported$(0.7)$(1.1) 37.5%Net loss margin (0.6)% (1.1)% 50bpsAdjusted net income(3)$1.7 $1.5 13.3%GAAP Diluted EPS(2)$(0.01)$(0.01) —%Adjusted Diluted EPS(3)$0.02 $0.02 —%Adjusted EBITDA(3)$3.6 $3.6 —%Adjusted EBITDA margin(3) 3.2% 3.6% (40)bps *Percentage changes may not recalculate due to rounding(1)Represents net loss allocable to Brilliant Earth Group, Inc. during the three months ended September 30, 2025 and 2024.(2)Represents GAAP Diluted EPS during the three months ended September 30, 2025 and 2024.(3)Adjusted net income, Adjusted Diluted EPS, Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See "Disclosure Regarding Non-GAAP Financial Measures and Key Metrics" for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures. Nine Month Results YTD September 2025 YTD September 2024 % Change*Total Orders 147,980 127,673 15.9%AOV$2,116 $2,370 (10.7)%($ in millions, except per share amounts) Net Sales$313.1 $302.6 3.4%Gross Profit$182.0 $183.2 (0.7)%Gross Margin 58.1% 60.5% (240)bpsNet (loss) income allocable to Brilliant Earth Group, Inc. (1)$(0.7)$0.2 (450.0)%Net (loss) income, as reported$(5.1)$1.4 (469.6)%Net (loss) income margin (1.6)% 0.5% (210)bpsAdjusted net income (3)$2.5 $7.6 (67.1)%GAAP Diluted EPS (2)$(0.05)$0.01 (600.0)%Adjusted Diluted EPS (3)$0.02 $0.08 (75.0)%Adjusted EBITDA (3)$7.8 $14.2 (44.9)%Adjusted EBITDA margin (3) 2.5% 4.7% (220)bps *Percentage changes may not recalculate due to rounding(1)Represents net (loss) income allocable to Brilliant Earth Group, Inc. during the nine months ended September 30, 2025 and 2024.(2)Represents GAAP Diluted EPS during the nine months ended September 30, 2025 and 2024.(3)Adjusted net income, Adjusted Diluted EPS, Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See "Disclosure Regarding Non-GAAP Financial Measures and Key Metrics" for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures. 2025 Outlook Full Year Net Sales+3% to 4.5% Year-Over-YearAdjusted EBITDA2% to 3% Margin Webcast and Conference Call Information-update linksBrilliant Earth will host a conference call and webcast to discuss third quarter 2025 results and business outlook today, November 5, 2025, at 8:30 a.m. ET/5:30 a.m. PT. The webcast and accompanying slide presentation can be accessed at https://investors.brilliantearth.com. The conference call can be accessed by using the following link: https://register-conf.media-server.com/register/BI38d82d9eae6843b2b19fb047b9a7e8f6. After registering, an email will be sent including dial-in details and a unique conference call pin required to join the live call. A replay of the webcast will remain available on the website after the live webcast concludes. About Brilliant Earth Brilliant Earth is an industry-disrupting global leader in ethically sourced fine jewelry. The Company's mission since its founding in 2005 has been to create a more transparent, sustainable, and compassionate jewelry industry. With a premium brand, curated proprietary product assortment, seamless omnichannel shopping experience, and asset-light, data driven business model, Brilliant Earth is transforming the jewelry industry. 2024 full year Net Sales were $422 million and the Company has reported positive Adjusted EBITDA for 17 consecutive quarters since going public in 2021. Headquartered in San Francisco, CA and Denver, CO, Brilliant Earth has 42 showrooms and counting across the United States and has served customers in over 50 countries worldwide.  Disclosure Regarding Non-GAAP Financial Measures and Key Metrics In addition to the financial measures presented in this release in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"), the Company has included certain non-GAAP financial measures in this release, including Adjusted EBITDA, Adjusted Net (loss) income, Adjusted Diluted EPS and Adjusted EBITDA margin. These non-GAAP financial measures provide users of our financial information with useful information in evaluating our operating performance and exclude certain items from net income that may vary substantially in frequency and magnitude from period to period. We define EBITDA as net (loss) income before interest, taxes, depreciation and amortization. We define Adjusted EBITDA as net (loss) income excluding interest expense, income taxes, depreciation expense, amortization of cloud-based software implementation costs, showroom pre-opening expense, equity-based compensation expense, certain non-operating expenses and income, and other unusual and/or infrequent costs, which that we do not consider in our evaluation of ongoing performance of our core operations. We define Adjusted EBITDA margin as Adjusted EBITDA calculated as a percentage of net sales. We believe that Adjusted EBITDA and Adjusted EBITDA margin, which eliminate the impact of certain expenses that we do not believe reflect our underlying business performance, provide useful information to investors to assess the performance of our business. We define Adjusted Net (loss) income as net (loss) income adjusted for the impact of certain additional non-cash and other items that we do not consider in our evaluation of ongoing performance of our core operations. These items include showroom pre-opening expense, equity-based compensation expense, costs to fund the Brilliant Earth Foundation and transaction costs and other expenses. We define Adjusted Diluted Earnings Per Share as Adjusted Net (loss) income, divided by the diluted weighted average shares of common stock outstanding. The diluted weighted average shares of common stock outstanding is derived from the historical diluted weighted average shares of common stock assuming such shares were outstanding for the entirety of the period presented. We believe Adjusted Net (loss) income and Adjusted Diluted Earnings Per Share, which eliminate the impact of certain expenses that we do not believe reflect our underlying business performance, provide useful information to investors to assess the performance of our business. Please refer to “GAAP to Non-GAAP Reconciliations” located in the financial supplement in this release for a reconciliation of GAAP to non-GAAP financial information. This release includes forward-looking guidance for certain non-GAAP financial measures, including Adjusted EBITDA. These measures will differ from net (loss) income, determined in accordance with GAAP, in ways similar to those described in the reconciliations at the end of this release. We are not able to provide, without unreasonable effort, guidance for net income, determined in accordance with GAAP, or a reconciliation of guidance for Adjusted EBITDA to the most directly comparable GAAP measure because the Company is not able to predict with reasonable certainty the amount or nature of all items that will be included in net income. This press release also contains certain key business metrics which are used to evaluate our business and growth trends, establish budgets, measure the effectiveness of our sales and marketing efforts, and assess operational efficiencies. We define net cash as cash and cash equivalents less the total principal balance of our outstanding debt. We define Bookings for each period as the dollar value of confirmed orders as of the date of order placement. We believe Bookings, which represent a measure of gross sales and potential future Net Sales, provide useful information to investors to assess the performance of our business. We define total orders as the total number of customer orders delivered less total orders returned in a given period (excluding those repair, resize, and other orders which have no revenue). We view total orders as a key indicator of the velocity of our business and an indication of the desirability of our products to our customers. Total orders, together with AOV, is an indicator of the net sales we expect to recognize in a given period. Total orders may fluctuate based on the number of visitors to our website and showrooms, and our ability to convert these visitors to customers. We believe that total orders is a measure that is useful to investors and management in understanding our ongoing operations and in an analysis of ongoing operating trends. We define average order value, or AOV, as net sales in a given period divided by total orders in that period. We define average selling price, or ASP, as the total retail sales price of products sold in a given period divided by the total number of product units sold during that same period. We believe that AOV and ASP are measures that are useful to investors and management in understanding our ongoing operations and in an analysis of ongoing operating trends. AOV varies depending on the product type and number of items per order. AOV and ASP may also fluctuate as we expand into and increase our presence in additional product types and price points, and open additional showrooms. Forward-Looking Statements This Press Release contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical facts contained in this press release may be forward-looking statements. Statements regarding our future results of operations, financial position and our expectations regarding Net sales and Adjusted EBITDA are forward-looking statements. In some cases, you can identify forward-looking statements by terms, such as "ahead," “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “evolve,” “expect,” "future," “intend,” “may,” “plan,” “potential,” “predict,” “seek,” “should,” “strategy,” “target,” “will,” or “would,” or the negative of these terms or other similar expressions. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, and uncertainties that are difficult to predict. You should not rely upon forward-looking statements as predictions of future events. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including, but not limited to: fluctuations in the pricing and supply of diamonds, other gemstones, and precious metals, particularly responsibly sourced natural and lab-grown diamonds and repurposed precious metals such as gold; an overall decline in the health of the economy and other factors impacting consumer spending, such as recessionary or inflationary conditions, governmental instability, the impact of any changes in trade policy, including the imposition of new or increased tariffs on goods imported into the United States and any resulting retaliatory trade actions by other governments, war and fears of war, and natural disasters; if we fail to cost-effectively turn existing customers into repeat customers or acquire new customers; our rapid growth in recent years and limited operating experience at our current scale of operations; our ability to manage growth effectively; increased lead times, supply shortages, and supply changes; our expansion plans in the United States; our ability to compete in the fine jewelry retail industry; our ability to maintain and enhance our brand and to engage or expand our base of customers; our ability to effectively develop and expand our sales and marketing capabilities and increase our customer base and achieve broader market acceptance of our e-commerce and omnichannel approach to shopping for fine jewelry; our profitability and cash flow being negatively affected if we are not successful in managing our inventory balances and inventory shrinkage; a decline in sales of Design Your Own rings; our heavy reliance on our information technology systems, as well as those of our third-party vendors and service providers, for our business to effectively operate and to safeguard confidential information and risks related to any significant failure, inadequacy or interruption of these systems, security breaches or loss of data; the impact of environmental, social, and governance matters on our business and reputation; our ability to manage risks related to our e-commerce and omnichannel business; our ability to effectively anticipate and respond to changes in consumer preferences and shopping patterns; and introduce new products and programs that appeal to new or existing customers; our dependence on distributions from Brilliant Earth, LLC, our principal asset, to pay our taxes and expenses, including payments under the Tax Receivable Agreement; risks related to our obligations to make substantial cash payments under the Tax Receivable Agreement and risks related to our organizational structure; and the other risks, uncertainties and the factors described in the section titled “Risk Factors” in our Annual Report on Form10-K for the year ended December 31, 2024, which was filed with the SEC on March 13, 2025 and is available at www.sec.gov. We qualify all of our forward-looking statements by these cautionary statements. These forward-looking statements speak only as of the date of this press release. Except as required by applicable law, we undertake no obligation to update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise. Contacts: Investors:Colin Bourlandinvestorrelations@brilliantearth.com BRILLIANT EARTH GROUP, INC.UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS(Dollars in thousands, except per share amounts) Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2025 2024 2025 2024 Net sales$110,252 $99,873 $313,072 $302,636 Cost of sales 46,801 39,103 131,075 119,483 Gross profit 63,451 60,770 181,997 183,153 Operating expenses: Marketing and advertising 26,132 26,678 75,365 77,122 General and administrative 37,939 35,161 111,988 105,091 Total operating expenses 64,071 61,839 187,353 182,213 (Loss) income from operations (620) (1,069) (5,356) 940 Interest expense (272) (1,320) (2,282) (3,827)Other income, net 837 1,525 3,215 4,476 Loss on extinguishment of debt (573) — (573) — (Loss) income before tax (628) (864) (4,996) 1,589 Income tax expense (44) (211) (56) (222)Net (loss) income (672) (1,075) (5,052) 1,367 Net (loss) income allocable to non-controlling interest (565) (934) (4,313) 1,184 Net (loss) income allocable to Brilliant Earth Group, Inc.$(107) $(141) $(739) $183 Earnings per share: Basic$(0.01) $(0.01) $(0.05) $0.01 Diluted$(0.01) $(0.01) $(0.05) $0.01 Weighted average shares of common stock outstanding: Basic 14,993,768 13,545,256 14,555,854 13,203,551 Diluted 14,993,768 13,545,256 14,555,854 98,527,171 BRILLIANT EARTH GROUP, INC.UNAUDITED CONSOLIDATED BALANCE SHEETS(Dollars in thousands, except per share amounts) September 30, December 31, 2025 2024 Assets Current assets: Cash and cash equivalents$73,429 $161,925 Restricted cash 347 216 Inventories, net 49,132 38,292 Prepaid expenses and other current assets 12,743 10,980 Total current assets 135,651 211,413 Property and equipment, net 19,942 21,626 Deferred tax assets 9,581 9,636 Operating lease right of use assets 33,845 35,222 Other assets 3,947 3,348 Total assets$202,966 $281,245 Liabilities and stockholders' equity Current liabilities: Accounts payable$20,851 $15,733 Accrued expenses and other current liabilities 29,293 31,714 Deferred revenue 25,676 18,926 Current portion of operating lease liabilities 7,100 6,108 Current portion of long-term debt — 5,688 Total current liabilities 82,920 78,169 Long-term debt, net of debt issuance costs — 50,010 Operating lease liabilities 33,255 35,856 Payable pursuant to the Tax Receivable Agreement 7,737 7,828 Total liabilities 123,912 171,863 Commitments and contingencies Stockholders' equity Preferred stock, $0.0001 par value, 10,000,000 shares authorized, none issued and outstanding at September 30, 2025 and December 31, 2024, respectively — — Class A common stock, $0.0001 par value, 1,200,000,000 shares authorized; 15,744,890 shares issued and 15,170,213 shares outstanding at September 30, 2025; 14,125,925 shares issued and 13,843,944 shares outstanding at December 31, 2024 2 1 Class B common stock, $0.0001 par value, 150,000,000 shares authorized; 35,822,342 and 35,820,912 shares outstanding at September 30, 2025 and December 31, 2024, respectively 4 4 Class C common stock, $0.0001 par value, 150,000,000 shares authorized; 49,119,976 shares outstanding at September 30, 2025 and December 31, 2024, respectively 5 5 Class D common stock, $0.0001 par value, 150,000,000 shares authorized; none issued and outstanding at September 30, 2025 and December 31, 2024, respectively — — Additional paid-in capital 12,806 11,169 Treasury stock, at cost; 574,677 and 281,981 shares at September 30, 2025 and December 31, 2024, respectively (1,094) (638)Retained earnings 256 4,788 Stockholders' equity attributable to Brilliant Earth Group, Inc. 11,979 15,329 Non-controlling interests attributable to Brilliant Earth, LLC 67,075 94,053 Total stockholders' equity 79,054 109,382 Total liabilities and stockholders' equity$202,966 $281,245 GAAP to Non-GAAP Reconciliations(Unaudited and dollars in thousands, except per share amounts)ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2025 2024 2025 2024 Net (loss) income$(672) $(1,075) $(5,052) $1,367 Interest expense 272 1,320 2,282 3,827 Income tax expense 44 211 56 222 Depreciation expense 1,549 1,341 4,581 3,846 Amortization of cloud-based software implementation costs 203 241 569 659 Showroom pre-opening expense 173 599 1,074 1,221 Equity-based compensation expense 2,256 2,524 6,953 7,536 Other income, net(1) (837) (1,525) (3,215) (4,476)Loss on extinguishment of debt 573 — 573 — Adjusted EBITDA$3,561 $3,636 $7,821 $14,202 Net (loss) income margin(0.6)% (1.1)% (1.6)% 0.5%Adjusted EBITDA margin 3.2% 3.6% 2.5% 4.7% (1)Other income, net consists primarily of interest and other miscellaneous income, partially offset by expenses such as losses on exchange rates on consumer payments. ADJUSTED NET (LOSS) INCOME AND ADJUSTED DILUTED EARNINGS PER SHARE Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2025 2024 2025 2024 Net (loss) income attributable to Brilliant Earth Group, Inc., as reported(1)$(107) $(141) $(739) $183 Net (loss) income impact from assumed redemption of all LLC Units to common stock(2) (565) (934) (4,313) 1,184 Net (loss) income, as reported (672) (1,075) (5,052) 1,367 Income tax benefit (expense) associated with conversion(3) 144 239 1,097 (302)Tax effected net (loss) income after assumed conversion (528) (836) (3,955) 1,065 Equity-based compensation expense 2,256 2,524 6,953 7,536 Showroom pre-opening expense 173 599 1,074 1,221 Loss on extinguishment of debt 573 — 573 — Tax impact of adjustments (763) (797) (2,187) (2,235)Adjusted Net Income$1,711 $1,490 $2,458 $7,587 Diluted weighted average of common stock assumed outstanding 14,993,768 13,545,256 14,555,854 98,527,171 Adjustments: Vested LLC Units that are exchangeable for common stock(4) 84,944,802 84,905,562 84,951,274 — Unvested LLC Units that are exchangeable for common stock(4) — 28,542 1,715 — RSUs 570,174 18,186 221,602 — Adjusted diluted weighted average of common stock assumed outstanding 100,508,744 98,497,546 99,730,445 98,527,171 Diluted earnings per share: As reported$(0.01) $(0.01) $(0.05) $0.01 As adjusted$0.02 $0.02 $0.02 $0.08 (1)Represents net (loss) income allocable to Brilliant Earth Group, Inc. for the three and nine months ended September 30, 2025 and 2024.(2)It is assumed that we will elect to issue common stock upon redemption of LLC Units rather than cash settle.(3)Brilliant Earth Group, Inc. is subject to U.S. Federal income taxes, in addition to state and local taxes with respect to its allocable share of any net taxable income of Brilliant Earth, LLC. Acquisition of LLC units by Brilliant Earth Group, Inc. causes all of the taxable income currently recognized by the members of Brilliant Earth, LLC to become taxable to the Company.(4)Assumes the exchange of all outstanding LLC units for shares of common stock, resulting in the elimination of the non-controlling interest and recognition of the net (loss) income attributable to non-controlling interest.

Brilliant Earth Reports Strong Q3 Results Exceeding High End of Net Sales Guidance and 17th Consecutive Quarter of Positive Adjusted EBITDA

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