By Daniella Parra
Brilliant Earth Group, Inc. (Nasdaq: BRLT) said net sales rose 1.3% to $110.2 million in the second quarter as it opened new showrooms.
The digital-first jewelry company said gross profit was $63.5 million, or a 57.6% gross profit margin. Adjusted EBITDA was $7.7 million, compared to $9.6 million in the second quarter of 2022, the company said in a statement.
“We delivered a strong second quarter, highlighted by: increased revenue with sustained growth on a four-year CAGR basis; expansion in gross margin and an adjusted EBITDA that exceeded our expectations, reflecting the increasing resonance of our premium brand, the agility with which we execute and the advantages of our asset light, data-driven operating model,” Beth Gerstein, Co-Founder and Chief Executive Officer said. “During the quarter, we delivered our best Mother’s Day gifting performance in our history while also continuing to grow our market share and expanding our showroom footprint.”