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BRILLIANT EARTHⓇ Second Quarter 2026 Financial Results August 6 , 2026
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2 Forward-Looking Statements This Presentation and statements to be made on the earnings conference call (the “Presentation”) contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical facts contained in this Presentation may be forward-looking statements. Statements regarding our future results of operations and financial position, business strategy, and management's plans and objectives for future operations, including, among others, statements regarding expected growth, introduction of new products, showroom and international expansion, market opportunity, capital expenditures, marketing and technology investments, liquidity and capital needs, tariff and macroeconomic impacts and any potential future declarations of cash dividends are forward-looking statements. In some cases, you can identify forward-looking statements by terms, such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “evolve,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “seek,” “should,” “strategy,” “target,” “will,” or “would,” or the negative of these terms or other similar expressions. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, and uncertainties that are difficult to predict. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. Actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. These forward- looking statements are subject to a number of risks, uncertainties, and assumptions, including, but not limited to risks related to: fluctuations in the pricing and supply of diamonds, other gemstones, and precious metals, particularly responsibly sourced natural and lab-grown diamonds and repurposed precious metals such as gold; increases in labor costs for manufacturing such as wage rate increases, as well as inflation, and energy prices; an overall decline in the health of the economy and other factors impacting consumer spending, such as recessionary or inflationary conditions, governmental instability, the impact of any changes in trade policy, including the imposition of new or increased tariffs on goods imported into the United States and any resulting retaliatory trade actions by other governments, war and fears of war, and natural disasters; our ability to cost-effectively turn existing customers into repeat customers or to acquire new customers; our rapid growth in recent years and limited operating experience at our current scale of operations and our ability to manage growth effectively; increased lead times, and supply shortages and supply changes; our plans to expand showrooms in the United States; our ability to compete in the fine jewelry retail industry; our ability to maintain and enhance our brand and to engage or expand our customer base; our ability to expand our sales and marketing capabilities and achieve broader market acceptance of our e-commerce and omnichannel approach; our ability to manage our inventory balances and shrinkage; a decline in sales of Design Your Own rings; our ability to predict operating results; our heavy reliance on our information technology systems and those of our third-party vendors and service providers to safeguard confidential information and any significant failure, inadequacy or interruption of these systems, security breaches or loss of data; the impact of environmental, social, and governance matters on our business and reputation; risks related to our e-commerce and omnichannel business; our ability to anticipate and respond to changes in consumer preferences and shopping patterns, and introduce new products and programs; our dependence on distributions from Brilliant Earth, LLC to pay our taxes and expenses, including payments under the Tax Receivable Agreement; our obligations under the Tax Receivable Agreement, which confers certain benefits upon the Continuing Equity Owners that will not benefit holders of our Class A common stock to the same extent; risks related to our organizational structure; and the other risks, uncertainties and factors described in Part I, Item 1A, “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the Securities and Exchange Commissionon March 17, 2026, and available at www.sec.gov. We qualify all of our forward-looking statements by these cautionary statements. These forward-looking statements speak only as of the date of this Presentation. Except as required by applicable law, we undertake no obligation to update or revise any forward-looking statements contained in this Presentation, whether as a result of any new information, future events or otherwise. Disclosure Regarding Non-GAAP Financial Measures and Key Metrics This Presentation contains certain financial measures not presented in accordance with US Generally Accepted Accounting Principles ("GAAP"). These non-GAAP financial measures provide users of our financial information with useful information in evaluating our operating performance and exclude certain items from net income that may vary substantially in frequency and magnitude from period to period. Please refer to the section of this presentation entitled “Non-GAAP Metrics and Reconciliations” for a reconciliation of GAAP to non-GAAP financial information. This Presentation also contains certain key business metrics which are used to evaluate our business and growth trends, establish budgets, measure the effectiveness of our sales and marketing efforts, and assess operational efficiencies. We define net cash as cash and cash equivalents less the total principal balance of our outstanding debt. We define free cash flow as net cash provided by operating activities minus net cash used in investing activities. We define Bookings for each period as the dollar value of confirmed orders as of the date of order placement. We believe Bookings, which represent a measure of gross sales and potential future Net Sales, provide useful information to investors to assess the performance of our business. We define total orders as the total number of customer orders deliveredless total orders returned in a given period (excluding those repair, resize, and other orders which have no revenue). We view total orders as a key indicator of the velocity of our business and an indication of the desirability of our products to our customers. Total orders, together with AOV, is an indicator of the net sales we expect to recognize in a given period. Total orders may fluctuate based on the number of visitors to our website and showrooms, and our ability to convert these visitors to customers. We believe that total orders is a measure that is useful to investors and management in understanding our ongoing operations and in an analysis of ongoing operating trends. We define average order value, or AOV, as net sales in a given period divided by total orders in that period. We define average selling price, or ASP, as the total retail sales price of products sold in a given period divided by the total number of product units sold during that same period. We believe that AOV and ASP, are measures that are useful to investors and management in understanding our ongoing operations and in an analysis of ongoing operating trends. AOV and ASP may also fluctuate as we expand into and increase our presence in additional product types and price points, and open additional showrooms. Industry and Market Data We include in this Presentation statements regarding factors that have impacted our industry. Such statements are statements of belief and are based on industry data and forecasts that we have obtained from internal company surveys, publicly available information, industry publications and surveys and First-party studies. Industry publications, surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of such information. Certain market, ranking and industry data included in the Presentation, including the size of certain markets and our size or position and the positions of our competitors within these markets, including our services relative to our competitors, are based on estimates of our management. These estimates have been derived from our management's knowledge and experience in the market in which we operate, as well as information obtained from internal company surveys, industry publications and surveys, First-party studies and other publicly available information related to the market in which we operate. Unless otherwise noted, all of our market share and market position information presented in this Presentation is an approximation based on management's knowledge. In addition, while we believe that the industry information included herein is generally reliable, such information is inherently imprecise. While we are not aware of any misstatements regarding the industry data presented herein, our estimates involve risks and uncertainties and are subject to change based on various factors. Trademarks This Presentation includes our trademarks and trade names which are protected under applicable intellectual property laws and are our property.
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3 Table of Contents Company Overview 4 Q2 2026 Results 20 2026 Priorities and Outlook 27 Appendix 30 La Cantera San Antonio, TX
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The Next Generation Fine Jeweler for Today’s Consumer Brilliant Earth is a global leader in fine jewelry. We are successfully executing our strategy to transform and modernize the jewelry industry. 4 EM updated EM NOTE – DOES THIS LOOK BLURRY??? Digitally Native, Tech-Driven and Customer- Obsessed Mission-Driven Ethos Unique and Award-Winning Designs Personalized, Joyful Omnichannel Customer Experience Nimble,Tech-Enabled CapitalEfficient
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Our Path to Becoming the Next Generation Fine Jeweler Amplifying Our Differentiators Integrating & Executing Across Three Critical Growth Priorities Build Brilliant Earth into the world's most loved and trusted jewelry brand by pioneering responsible practices and fostering emotional connections that redefine accessible luxury. Create distinctive, ownable collections that blend innovative, personalized design with masterful craftsmanship to build affinity for the Brilliant Earth brand. Deliver distinctive and personalized omnichannel experiences that delight customers, foster lasting relationships, and set new standards for modern luxury retail. Brand Product Experience Luxe Nadia Engagement Ring with Pacific Green Center Stone Our Mission Our Product Our Experience Our Platform
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Our Opportunity & Differentiators 6 1 VAST INDUSTRY THAT IS RIPE FOR DISRUPTION 2 AGILE BUSINESS MODEL THAT CAN SWIFTLY ADAPT USING DATA AND AI TO INFORM DECISION-MAKING ASSET LIGHT MODEL NOT BURDENED BY HOLDING EXCESS INVENTORY 3 4 OMNICHANNEL MODEL PROVIDES A JOYFUL, SEAMLESS SHOPPING EXPERIENCE 5 OUR VALUES STRONGLY RESONATE WITH OUR CUSTOMERS The Keepsakes Collection
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The Butterfly Collection 7 ▪ ~$350B, fragmented global jewelry market projected to grow at ~5% CAGR from 2025 to 20301 ▪ Bridal purchases are an enduring, resilient tradition with ~2M annual marriages in the US2 ▪ Today, Brilliant Earth represents under 1% of the global bridal market, with significant share gain potential Vast Industry Ripe For Disruption 1Statista: Revenue of the jewelry industry worldwide 2018-2030, 2CDC National Center for Health Statistics
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8 Major Milestones Throughout Our 20+ Year History 2005 Founded in San Francisco 2008 Early adopter of social media 2022 Fairmined gold partnership Opened 25th showroom 2012 Launched Canadian website Began offering lab-created diamonds Raised only outside equity round 2013 >$25M in Net Sales Launched Australian website 2015 >$50M in Net Sales Launched Brilliant Earth Mobile School in the Democratic Republic of Congo 2017 >$100M in Net Sales Launched UK website 2019 >$200M in Net Sales Launched blockchain enabled diamonds Rainforest Alliance product partnership 2021 IPO Established Brilliant Earth Foundation 2023 Opened 37th showroom Introduced Sol, Carbon Capture and 100% Renewable Collections 2024 $422M in Net Sales Jane Goodall partnership and collection Opened 40th showroom 2025 20th Anniversary of Company Opened 42nd showroom First Athlete Ambassador, Madison Keys Breakthrough moments including Beyonce & Ring Pop 2026 Opened first flagship location in Beverly Hills Named #1 Most Sustainable Jewelry Brand by AIDI
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History of Net Sales and Order Growth 9 $201 $252 $380 $440 $446 $422 $437 2019 2020 2021 2022 2023 2024 2025 NET SALES ($ MILLIONS) 14% 6yr CAGR 62 80 118 150 175 186 210 2019 2020 2021 2022 2023 2024 2025 TOTAL ORDERS (IN THOUSANDS) 23% 6yr CAGR
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Beautiful, Trend-Leading Product Assortment 10 Engagement Rings Wedding & Anniversary Bands Gemstone Rings Fine Jewelry
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11 Proprietary Design Collections Signature Bridal Collections The Jane Goodall Collection The Sol Collection Pacific Green Lab DiamondsThe Love Decoded CollectionThe Keepsakes Collection
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Unique, award-winning, proprietary designs ▪ In-house, award-winning design team ▪ Innovative, curated, and proprietary collections Agile product development ▪ Customer-insight and trend driven ▪ Fast, data-driven development cycle Innovative Design-Your-Own model ▪ Personalization at scale for engagement and wedding and anniversary rings ▪ Beyond personalization, customers can work with our custom design studio to bring their one-of-a-kind vision to life Design Leadership & Scalable Personalization Capabilities 12
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▪ Design Your Own make to order model and vast virtual inventory of hundreds of thousands of natural and lab-grown diamonds offers broad consumer selection, while keeping balance sheet inventory low ▪ Inventory turns of ~4x as of Q2 2026 significantly higher than industry average ▪ Supply chain advantages from long term strategic relationships and strong supplier technology integration 13 Asset Light Inventory Model
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14 AGILE, TECH-ENABLED BUSINESS MODEL TO CONTINUALLY ADAPT AND IMPROVE OUR SUPPLY CHAIN A HIGHLY DIVERSIFIED SUPPLY CHAIN THAT REDUCES DEPENDENCE ON ANY ONE GEOGRAPHY See our latest mission report for more information. https://www.brilliantearth.com/about/mission/ BROAD AND DEEP NETWORK OF LONGSTANDING, TRUSTED SUPPLIER RELATIONSHIPS Globally Diversified Supply Chain ▪ A highly diversified supply chain that reduces dependence on any one geography ▪ Broad and deep network of longstanding, trusted supplier relationships ▪ Agile, tech-enabled business model to continually adapt and improve our supply chain
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15 Technology Enabled, Data-Driven Business Model Tech-enabled data analysis drives curated product assortment in-store and online Refined testing and sophisticated algorithms optimize e-commerce platform Product development cycle based on data-driven insights from consumer preferences Customer interactions are tracked and analyzed in an integrated CRM / ERP system Rapidly growing customer base resulting in larger first-party data warehouse Leverage AI and Machine Learning to drive growth and efficiency
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Omnichannel Excellence We have pioneered a seamless, omnichannel premium shopping experience with an efficient footprint of 43 showrooms in the U.S. and an innovative digital platform Delightful Showroom Experience ▪ Premium, personalized luxury experience curated for customer preferences ▪ Appointment or walk-in retail, with innovations such as fine jewelry try-on bar ▪ Located in premier shopping districts with location selection informed by robust data and analytics ▪ Most showrooms deliver strong double-digit metro bookings uplift in 12 months post opening* Modern Digital Platform ▪ Leading digital capabilities: virtual try on, high resolution interactive videos, skin tone visualizer ▪ Intelligent personalized recommendations: Product configurators & recommendation engine ▪ Seamless omnichannel: Virtual appointments, chat/phone capabilities with integrated CRM across physical and digital channels Adj to exterior shot *As of Q2 2026
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Meet Our Next-Gen Fine & Bridal Jewelry Customer Our Primary Audience ▪ 25-44 years old ▪ HHI $100K-$200K+ annually ▪ Educated young professionals ▪ Couples shopping together, gift givers, and self-purchasers Digital DNA ▪ Masters of multi-channel media and culture ▪ Expects continuity across all touchpoints ▪ Values exceptional experiences and personalization when shopping Authenticity Required ▪ Prioritizes meaningful brand connections ▪ Personalization and self-expression are non-negotiable ▪ Prefers to seek out and support values-aligned companies
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18 Media, Social & Celebrity Bella HadidBeyoncé Selena GomezMiley Cyrus Madison Keys Brilliant Earth Aims To Be The Next-Generation Jeweler We've cultivated high-value celebrity and influencer partnerships rooted in authentic brand affinity. Sabrina Carpenter Maude Apatow
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With the Brilliant Earth Foundation, we're building a legacy of positive impact across our supply chain and communities. Responsible Sourcing Social Impact Climate Action Setting new standards for industry excellence Strengthening communities through targeted investment Leading planet-first initiatives that drive change Impact Through Action
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20 Q2 2026 Results
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21 57.9% Gross Margin 130 bps Y/Y Marketing Expense Leverage* $5.8M / 5.0% Adjusted EBITDA/Margin $74.9M Cash *As percentage of Net Sales See Appendix for a reconciliation from Net Income (Loss) and Net Income (Loss) Margin to Adjusted EBITDA and Adjusted EBITDA Margin $115.1M Net Sales $2,238 Average Order Value -2.1% Y/Y Total Orders +6% Y/Y Second Quarter 2026: Financial Highlights
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22 56.2% Gross Margin 110 bps Y/Y Marketing Expense Leverage* $1.1M / 0.5% Adjusted EBITDA/Margin $74.9M Cash *As percentage of Net Sales See Appendix for a reconciliation from Net Income (Loss) and Net Income (Loss) Margin to Adjusted EBITDA and Adjusted EBITDA Margin $214.6M Net Sales $2,187 Average Order Value 0.1% Y/Y Total Orders +6% Y/Y Six Months Fiscal 2026: Financial Highlights
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23 Second Quarter 2026 Highlights and Key Achievements Bezel Atelier Solitaire Diamond Ring, Silhouette Diamond Wedding Ring ▪ Drove Net Sales of $115M, growing +6% y/y, exceeding the high end of Company's guidance range ▪ Delivered profitability exceeding the high end of the Company's guidance range, with $5.8M of Adjusted EBITDA, or 5% Adjusted EBITDA Margin ▪ Drove 32% y/y growth in fine jewelry bookings, representing ~18% of total bookings mix ▪ Achieved Gross Margin of 57.9% in the second quarter, up 360 bps sequentially, demonstrating the agility of the Company's business model ▪ Achieved adjusted operating expense leverage of 250 bps y/y as a % of Net Sales while still delivering strong topline results: o 130 bps y/y leverage in marketing o 40 bps y/y leverage in adjusted employee expenses o 80 bps y/y leverage in adjusted other G&A ▪ Ended the period with $75M in cash and no debt See Appendix for a reconciliation from Net Income (Loss) and Net Income (Loss) Margin to Adjusted EBITDA and Adjusted EBITDA Margin
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24 Q1 ADJUSTED EBITDA ($ MILLIONS) $5.8 Q2 2026 5.0% OF NET SALES 58.3% 57.9% Q2 2025 Q2 2026 Q2 GROSS MARGIN ($ MILLIONS) $63.5 $66.6 See Appendix for a reconciliation from Net Income and Net Income Margin to Adjusted EBITDA and Adjusted EBITDA Margin $108.9 $115.1 Q2 2025 Q2 2026 Q2 NET SALES ($ MILLIONS) +5.7% Y/Y Second Quarter 2026 Financial Summary Q2 ADJUSTED EBITDA ($ MILLIONS) $2,074 $2,238 Q2 2025 Q2 2026 Q2 AVERAGE ORDER VALUE 52,535 51,442 Q2 2025 Q2 2026 Q2 TOTAL ORDERS (IN THOUSANDS) ▪ Orders grew 5% y/y excluding sub-$500 AOV orders ▪ Drivers of AOV increase include (1) Customers mixing into higher-priced items indicating strength with higher-income consumer, (2) selective price increases as a result of precious metal costs -40 bps Y/Y +7.9% Y/Y -2.1% Y/Y
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25 Q1 ADJUSTED EBITDA ($ MILLIONS) $1.1 Six Months 2026 0.5% OF NET SALES 58.4% 56.2% YTD June 2025 YTD June 2026 Six Months GROSS MARGIN ($ MILLIONS) $120.7$118.5 See Appendix for a reconciliation from Net Income (Loss) and Net Income (Loss) Margin to Adjusted EBITDA and Adjusted EBITDA Margin $202.8 $214.6 YTD June 2025 YTD June 2026 Six Months NET SALES ($ MILLIONS) +5.8% Y/Y Six Months Fiscal 2026 Financial Summary Six Months ADJUSTED EBITDA ($ MILLIONS) $2,068 $2,187 YTD June 2025 YTD June 2026 Six Months AVERAGE ORDER VALUE 98,070 98,134 YTD June 2025 YTD June 2026 Six Months TOTAL ORDERS (IN THOUSANDS) ▪ Drivers of AOV increase include (1) Customers mixing into higher-priced items indicating strength with higher-income consumer, (2) selective price increases as a result of precious metal costs -220bps Y/Y +5.8% Y/Y +0.1% Y/Y
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Strong Holiday, Product and Showroom Performance in Q2 26 ▪ Drove record Mother's Day with bookings growing 15% y/y during the two-week gifting window leading up to Mother’s Day ▪ Delivered a standout quarter of fine jewelry growth with bookings growing approximately 32% y/y, making up ~18% of total bookings for the quarter ▪ Fine jewelry bookings at $500+ price points grew over 40% y/y in Q2 ▪ Drove double digit y/y bookings growth in wedding and anniversary bands ▪ Showroom bookings from customers without an appointment grew 47% year-over-year in the second quarter ▪ Beverly Hills flagship bookings since opening through end of Q2 up over 40% year-over- year versus prior location, and average order values for appointments through end of Q2 about 10% higher than typical appointments ▪ Opened our 43rd showroom, in San Antonio, Texas, the Company's second iteration of its new flagship concept Showroom of the Future
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27 2026 Priorities and Outlook
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2 4 28 1 3 CONTINUE ON OUR PATH TO BECOME THE WORLD’S MOST LOVED AND TRUSTED JEWELER FOR TODAY’S AND TOMORROW’S CONSUMER CREATE DISTINCTIVE, OWNABLE COLLECTIONS THAT BLEND INNOVATIVE, PERSONALIZED DESIGN WITH MASTERFUL CRAFTSMANSHIP DELIVER DISTINCTIVE OMNICHANNEL EXPERIENCES THAT DELIGHT CUSTOMERS, FOSTER LASTING RELATIONSHIPS, AND SET NEW STANDARDS FOR MODERN LUXURY RETAIL INVEST IN INNOVATION, DATA, PEOPLE, AND PROCESSES TO DRIVE OPERATIONAL EFFICIENCY AND LONG-TERM SUSTAINABLE GROWTH 2026 Priorities Women’s Wedding Rings (T-B): Nathalie, Astra, Olivetta, Bezel Baguette, Versailles
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2026 Outlook 29 $459 to $462M NET SALES $13 to $15M Fiscal Year ADJUSTED EBITDA $ Marlowe Blue Topaz, Sapphire Silhouette, Morganite & Pink Tourmaline Toi et Moi, Sunset Ombre, Channel Set Eternity Bands Approximately flat Y/Y NET SALES GROWTH $3 to $5M Third Quarter ADJUSTED EBITDA $ Outlook assumes tariffs and metal prices as of August 4, 2026.
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30 Appendix
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GAAP to Non-GAAP Reconciliations ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN (Unaudited and $ in 000’s) 2026 2025 2026 2025 Net income (loss), as reported $842 $(1,113) $(7,611) $(4,380) Interest expense _ 895 _ 2,010 Income tax expense _ 143 _ 12 Depreciation expense 1,654 1,544 3,269 3,032 Amortization of cloud-based software implementation costs 225 204 445 366 Showroom pre-opening expense 374 319 560 901 Equity-based compensation expense 1,278 2,328 2,806 4,697 Other income, net1 (396) (1,138) (824) (2,378) Other expenses2 1,793 _ 2,420 _ Adjusted EBITDA $5,770 $3,182 $1,065 $4,260 Net income (loss) margin 0.7% (1.0)% (3.5)% (2.2)% Adjusted EBITDA margin 5.0% 2.9% 0.5% 2.1% 1. Other income, net consists primarily of interest and other miscellaneous income, partially offset by expenses such as losses on exchange rates on consumer payments. 2. These expenses are those that we did not incur in the normal course of business. For the three months ended June 30, 2026, these expenses include a $1.8 million charge for write-off of information technology projects. For the six months ended June 30, 2026, these expenses also include a $0.6 million charitable contribution. 31 Source: MD&A > Non-GAAP Fin Measures Three months ended June 30, Six months ended June 30,