Brilliant Earth grows sales, leans into showrooms

Brilliant Earth reported second-quarter net sales of $115 million, a 6% increase compared with the same period a year earlier. Adjusted EBITDA for the quarter was $5.8 million, and gross margin came in just under 58%. The company ended the quarter with $75 million in cash and no debt, providing financial flexibility to fund its growth initiatives.

Management pointed to improving unit economics and product mix as contributors to the quarter’s performance. Average order value exceeded $2,200, reflecting continued demand at higher price points across the assortment.

Fine jewelry was a key growth driver in the quarter. Bookings in this category increased 32% year over year and represented about 18% of total bookings. Within fine jewelry, bookings above $500 grew more than 40% compared with the prior year, underscoring strength in higher-ticket items.

Management indicated that the fine jewelry business is on a path toward becoming a $100 million business. The shift toward more fine jewelry also supports margins, complementing the company’s bridal offering and broadening its customer base.

Brilliant Earth continued to expand its physical footprint and now operates 43 showrooms. The 43rd location, opened in San Antonio, is a smaller-format version of its showroom-of-the-future concept. Management highlighted that most showroom openings are delivering strong double-digit increases in metro-area bookings within 12 months of launch.

Showroom engagement trends were also positive. Bookings from walk-in customers, without appointments, increased 47%. At the Beverly Hills flagship, bookings rose 40% year over year, and appointment average order values were about 10% higher, signaling both increased traffic and improved transaction quality.

Looking ahead, Brilliant Earth reiterated its full-year 2026 guidance. The company continues to target net sales of $459 million to $462 million and adjusted EBITDA of $13 million to $15 million by that year. This outlook assumes ongoing contribution from fine jewelry and the expanding showroom network.

For the near term, management expects approximately flat year-over-year net sales in the third quarter. Adjusted EBITDA for that period is projected in a range of $3 million to $5 million. The company’s cash position and lack of debt provide support for continued investment in growth while pursuing these targets.