By Daniella Parra of Exec Edge
Brilliant Earth Group, Inc. (Nasdaq: BRLT) on Thursday reported better-than-expected sales and Ebitda for the first quarter, reflecting strong demand for the brand.
The digital-first jewelry company said net sales were $97.7 million and Ebitda was $5.5 million for the first quarter.
Beth Gerstein, Co-Founder and Chief Executive Officer said, “We are pleased with our start to the year, reporting first quarter results that surpassed our guidance. The first quarter marked our seventh consecutive period of consistently strong performance, reflecting continued share gains from the successful execution of our strategy and the discipline and agility with which we execute to drive strong revenue, significant expansion in gross margin, solid profitability, and sustained balance sheet strength.”
For 2023, the company expects net sales of $460 million – $490 million and Ebitda of $17 million – $32 million.