Brilliant Earth Group, Inc. Class A (BRLT)

Over the past six months, Brilliant Earth's stock price has declined nearly 47%. In Q4 2025, the company reported an earnings miss due to rising gold and platinum prices. In Q1 2026, net sales exceeded expectations, but the company posted a negative adjusted EBITDA. Management anticipates that most of the year's adjusted EBITDA will be realized in Q4.

Demand for Brilliant Earth's products exhibits seasonality. The first quarter is typically the lowest for net sales, while the fourth quarter is generally the highest. Management expects most of the annual adjusted EBITDA to come from Q4, indicating strong holiday season demand. The company has also noted strong performance during key gifting periods, such as a record Valentine's Day.

Brilliant Earth Group, Inc. operates in the Consumer Discretionary sector, focusing on luxury goods and specialty retail, including jewelry. The company designs, procures, and sells diamonds, gemstones, and jewelry through online platforms and showrooms. Their offerings include engagement rings, wedding bands, gemstone rings, and fine jewelry, with an emphasis on transparency and sustainability.

Headquartered in San Francisco and Denver, Brilliant Earth has a significant omnichannel presence with 42 showrooms across the United States. The company serves customers in over 50 countries through its online platform and has begun expanding its physical retail footprint internationally with showrooms in the UK and Australia.

Brilliant Earth has solidified its brand reputation as a leader in sustainable and ethically sourced fine jewelry. In February 2026, the company was named the #1 Most Sustainable Jewelry Brand in the 2025 AIDI Sustainable Jewelry Rankings. The company's commitment to ethical sourcing, repurposed precious metals, blockchain traceability, and climate goals contributed to this positive reputation.

Major institutional shareholders include Mainsail Management Company, Capital World Investors, Ameriprise Financial Inc, Vanguard Group Inc, Russell Investments Group, Ltd., Potomac Capital Management, Inc., Renaissance Technologies Llc, Geode Capital Management, Llc, Two Sigma Investments, Lp, Citadel Advisors Llc, and BlackRock, Inc. Co-founders Beth Tanara Gerstein and Eric Scott Grossberg are also major individual shareholders.