Revenue growth has decelerated to a modest 21.4% in 2026Q1, while gross margins have contracted significantly from historical peaks above 40% to 33% in the most recent quarter.
| Sales/Revenue | 417.51M | 398.26M | 391.49M | 395.62M | 301.31M | 233.1M | 163.91M | 82.13M |
| Revenue Growth % | 8.99% | 1.73% | -1.04% | 31.3% | 29.26% | 42.21% | 99.58% | - |
| Cost of Goods Sold | 275.95M | 260.32M | 230.32M | 270.18M | 202.13M | 143.41M | 94.5M | 46.42M |
| COGS % of Revenue | - | 65.36% | 58.83% | 68.29% | 67.08% | 61.52% | 57.65% | 56.53% |
| Gross Profit | 141.56M | 137.95M | 161.17M | 125.45M | 99.18M | 89.69M | 69.41M | 35.7M |
| Gross Margin % | 33.91% | 34.64% | 41.17% | 31.71% | 32.92% | 38.48% | 42.35% | 43.47% |
| Gross Profit Growth % | - | -14.41% | 28.48% | 26.49% | 10.58% | 29.22% | 94.4% | - |
| Operating Expenses | 159.41M | 162.54M | 157.33M | 175.66M | 166.94M | 101.27M | 63.63M | 35.82M |
| OpEx % of Revenue | - | 40.81% | 40.19% | 44.4% | 55.4% | 43.44% | 38.82% | 43.62% |
| Selling, General & Admin | 134.02M | 93.95M | 148.87M | 173.46M | 166.94M | 101.27M | 63.63M | 35.82M |
| SG&A % of Revenue | - | 23.59% | 38.03% | 43.84% | 55.4% | 43.44% | 38.82% | 43.62% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 3.38M | 68.59M | 8.45M | 2.2M | 0 | 0 | 0 | 0 |
| Operating Income | -17.85M | -24.6M | 3.85M | -50.21M | -67.76M | -11.58M | 5.78M | -116K |
| Operating Margin % | -4.27% | -6.18% | 0.98% | -12.69% | -22.49% | -4.97% | 3.53% | -0.14% |
| Operating Income Growth % | - | -739.22% | 107.66% | 25.9% | -485.21% | -300.33% | 5082.76% | - |
| EBITDA | -6.06M | -12.4M | 13.9M | -42.95M | -64.11M | -9.48M | 7.02M | 817K |
| EBITDA Margin % | -1.45% | -3.11% | 3.55% | -10.86% | -21.28% | -4.07% | 4.28% | 0.99% |
| EBITDA Growth % | -203.98% | -189.17% | 132.38% | 33.01% | -576.13% | -235.13% | 758.87% | - |
| D&A (Non-Cash Add-back) | 11.78M | 12.2M | 10.06M | 7.26M | 3.65M | 2.1M | 1.24M | 933K |
| EBIT | -17.85M | -24.6M | 3.85M | -50.2M | -67.76M | -11.58M | 5.78M | -25K |
| Net Interest Income | -6.38M | -7.51M | -11.32M | -6.33M | -1.59M | -2.03M | -1.05M | -733K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 6.38M | 7.51M | 11.32M | 6.33M | 1.59M | 2.03M | 1.05M | 733K |
| Other Income/Expense | -6.38M | -7.51M | -11.32M | -6.32M | -269.92M | -2.09M | -1.27M | -642K |
| Pretax Income | -24.22M | -32.1M | -7.48M | -56.53M | -337.68M | -13.67M | 4.51M | -758K |
| Pretax Margin % | -5.8% | -8.06% | -1.91% | -14.29% | -112.07% | -5.86% | 2.75% | -0.92% |
| Income Tax | 121K | 132K | 172K | 185K | 367K | 178K | 185K | 14K |
| Effective Tax Rate % | -0.5% | -0.41% | -2.3% | -0.33% | -0.11% | -1.3% | 4.11% | -1.85% |
| Net Income | -9.04M | -11.91M | -2.95M | -16.75M | -82.91M | -13.85M | 4.32M | -772K |
| Net Margin % | -2.17% | -2.99% | -0.75% | -4.23% | -27.51% | -5.94% | 2.64% | -0.94% |
| Net Income Growth % | -41.57% | -303.59% | 82.37% | 79.8% | -498.82% | -420.41% | 659.72% | - |
| Net Income (Continuing) | -24.34M | -32.23M | -7.65M | -56.72M | -338.04M | -13.85M | 4.32M | -772K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 23.9M | 22.36M | 36.32M | 33.24M | 70.14M | 0 | 0 | 0 |
| EPS (Diluted) | -0.08 | -0.13 | -0.04 | -0.27 | -6.60 | -0.10 | 0.03 | -0.02 |
| EPS Growth % | -25.58% | -213.25% | 84.63% | 95.91% | -6662.3% | -421.05% | 273.71% | - |
| EPS (Basic) | - | -0.13 | -0.04 | -0.27 | -6.60 | -0.10 | 0.03 | -0.02 |
| Diluted Shares Outstanding | 115.4M | 95.21M | 71.11M | 60.93M | 51.25M | 141.88M | 141.88M | 44.01M |
| Basic Shares Outstanding | 115.4M | 95.21M | 71.11M | 60.93M | 51.25M | 141.88M | 141.88M | 44.01M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Liquidity and capital exhaustion
As indicated by recent quarterly filings, BRC Inc.'s revenue growth has decelerated significantly, reaching a modest 1.73% year-over-year increase in the most recent period, which highlights a potential maturation of the brand's initial rapid expansion phase within the competitive packaged coffee and retail beverage landscape.
The transition from double-digit growth to low single-digit expansion suggests that the company's core demographic may be reaching saturation. Investors should monitor whether the shift toward wholesale channels can offset the plateauing performance of the direct-to-consumer subscription model.
Based on the provided financial data, gross margins have contracted from historical highs above 40% to approximately 33% in 2026Q1, reflecting the increased reliance on lower-margin wholesale distribution and the inherent cost pressures of third-party co-manufacturing agreements for ready-to-drink products.
This margin erosion implies that the company lacks the scale necessary to achieve favorable pricing power against larger, vertically integrated beverage incumbents. The inability to sustain higher gross margins suggests that operational efficiency gains are being offset by rising logistics and production costs.
According to the income statement history, BRC Inc. has struggled to demonstrate consistent operating leverage, with SG&A expenses frequently outpacing gross profit growth, resulting in volatile operating margins that dipped to -13.3% in 2025Q2 before showing only marginal improvement in subsequent quarters.
The persistent high level of SG&A relative to revenue indicates that the company's brand-building and marketing investments have not yet translated into sustainable operating income. This suggests that the current business model requires significant overhead to maintain its market position, limiting potential profitability.
Financial statements reveal a precarious liquidity position, with cash and equivalents reported at just $4.33 million against a backdrop of recurring operating losses, which warrants serious investigation into the company's ability to fund ongoing operations without seeking dilutive external financing or drastic cost reductions.
The combination of thin cash reserves and negative operating margins creates a high-risk environment for shareholders. If the company cannot achieve self-funding status rapidly, the reliance on external capital markets may lead to significant equity dilution or restricted growth initiatives.
Quick answers to the most common questions about buying BRCC stock.
For fiscal year 2025, BRC Inc. (BRCC) reported total revenue of $398.3M. This represents a 384.9% increase compared to $82.1M in 2019.
BRC Inc. (BRCC) reported a net loss of $11.9M for the fiscal year ending 2025.
BRC Inc. (BRCC) reported an operating income of $-24.6M, resulting in an operating profit margin of -6.2%. This margin reflects the operational efficiency of the business before interest and taxes.
BRC Inc. (BRCC) generated $137.9M in gross profit for the year, representing a gross profit margin of 34.6%. This demonstrates the company's core pricing power and production efficiency.