Brilliant Earth Q1 Sales up 41%
May 15, 22
(IDEX Online) - Brilliant Earth, the US-based "ethical jeweler", has reported $100m of sales in the first three months of 2022, a year-on-year increase of 41.5 per cent.
It predicts another strong performance in Q2, despite ongoing geopolitical uncertainties.
Net income for the quarter was $3.4m and adjusted EBITDA was $8.4m. The company is forecasting net sales of $450m to $470m for the full year, and adjusted EBITDA of $30m to $40m.
"As the second quarter progresses," said Beth Gerstein, co-founder and CEO, "we are seeing impact from the uncertain geopolitical and macroeconomic environment, reflected in moderating sales trends and in our updated outlook.
"Notwithstanding this, we expect to deliver strong sales growth and profitability in fiscal 2022."
The digital-first company, founded by Gerstein and Eric Grossberg in San Francisco in 2005, went public last September.
Pic courtesy Brilliant Earth