The company's financial position has weakened significantly, with total assets contracting from $281.2 million in 2024Q4 to $183.4 million in 2026Q1, alongside an equity base that has dwindled to $11.4 million.
Brilliant Earth Group, Inc. (BRLT) balance sheet — 7-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 |
|---|
| Total Current Assets | 139.48M | 144.73M | 211.41M | 204.86M | 205.95M | 205.99M | 82.97M | 53.67M |
| Cash & Short-Term Investments | 76.18M | 79.09M | 161.93M | 155.81M | 154.65M | 172.87M | 66.27M | 40.39M |
| Cash Only | 76.18M | 79.09M | 161.93M | 155.81M | 154.65M | 172.87M | 66.27M | 40.39M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - |
| Inventory | 50.33M | 53.24M | 38.29M | 37.79M | 39.33M | 24.74M | 13.56M | 10.81M |
| Days Inventory Outstanding | 99.27 | 104.48 | 83.31 | 72.83 | 69.83 | 46.85 | 35.47 | 33.88 |
| Other Current Assets | 12.97M | 12.4M | 11.2M | 1.21M | 11.97M | 205K | 205K | 204K |
| Total Non-Current Assets | 57.45M | 56.17M | 69.83M | 68.73M | 56.63M | 11.74M | 2.24M | 2.26M |
| Property, Plant & Equipment | 54.07M | 51.5M | 56.85M | 56.3M | 44.37M | 6.73M | 1.99M | 2M |
| Fixed Asset Turnover | 8.59x | 8.49x | 7.43x | 7.93x | 9.91x | 56.47x | 126.80x | 100.47x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 3.37M | 2.16M | 1.47M | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 3.37M | 1.31M | 1.19M | 1.22M | 3.31M | 601K | 258K | 252K |
| Total Assets | 196.92M | 200.9M | 281.25M | 273.58M | 262.57M | 217.73M | 85.22M | 55.92M |
| Asset Turnover | 2.32x | 2.18x | 1.50x | 1.63x | 1.68x | 1.75x | 2.96x | 3.60x |
| Asset Growth % | -88.1% | -28.57% | 2.8% | 4.19% | 20.6% | 155.5% | 52.38% | - |
| Total Current Liabilities | 87.6M | 90.1M | 78.17M | 76.95M | 74.54M | 92.84M | 38.71M | 31.96M |
| Accounts Payable | 27.87M | 24.8M | 15.73M | 17.2M | 11.03M | 14.48M | 10.81M | 10.77M |
| Days Payables Outstanding | 48.3 | 48.68 | 34.23 | 33.14 | 19.59 | 27.42 | 28.29 | 33.75 |
| Short-Term Debt | 7.52M | 0 | 5.69M | 4.06M | 3.25M | 30.79M | 0 | 0 |
| Deferred Revenue (Current) | 98.42M | 22.67M | 18.93M | 19.56M | 18.55M | 18.82M | 10.78M | 8.45M |
| Other Current Liabilities | 55.95M | 9.74M | 8.64M | 8.48M | 5.15M | 5.5M | 3.69M | 3.51M |
| Current Ratio | 1.59x | 1.61x | 2.70x | 2.66x | 2.76x | 2.22x | 2.14x | 1.68x |
| Quick Ratio | 1.02x | 1.02x | 2.21x | 2.17x | 2.24x | 1.95x | 1.79x | 1.34x |
| Cash Conversion Cycle | 50.96 | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 35.16M | 31.16M | 93.69M | 99.18M | 94.89M | 42.05M | 131.9M | 115.48M |
| Long-Term Debt | 35.16M | 0 | 50.01M | 55.57M | 59.46M | 32.79M | 62.21M | 32.65M |
| Capital Lease Obligations | 97.7M | 31.16M | 35.86M | 35.57M | 28.54M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 7.83M | 8.04M | 6.89M | 9.26M | 69.51M | 82.69M |
| Total Liabilities | 122.76M | 121.27M | 171.86M | 176.13M | 169.43M | 134.89M | 170.61M | 147.44M |
| Total Debt | 42.67M | 38.06M | 97.66M | 100.2M | 95.12M | 63.58M | 62.21M | 32.65M |
| Net Debt | -33.5M | -41.03M | -64.26M | -55.61M | -59.53M | -109.29M | -4.06M | -7.74M |
| Debt / Equity | 0.58x | 0.48x | 0.89x | 1.03x | 1.02x | 0.77x | - | - |
| Debt / EBITDA | -33.95x | 51.92x | 11.27x | 11.54x | 3.77x | 1.55x | 2.28x | - |
| Net Debt / EBITDA | 26.65x | -55.98x | -7.42x | -6.40x | -2.36x | -2.67x | -0.15x | - |
| Interest Coverage | - | 2.42x | 1.83x | 1.84x | 5.05x | 4.42x | 5.37x | -2.45x |
| Total Equity | 74.16M | 79.64M | 109.38M | 97.46M | 93.14M | 82.84M | -85.39M | -91.52M |
| Equity Growth % | -92.69% | -27.19% | 12.24% | 4.63% | 12.44% | 197.01% | 6.69% | - |
| Book Value per Share | 0.73 | 5.40 | 1.11 | 1.00 | 0.97 | 0.86 | -0.89 | -0.96 |
| Total Shareholders' Equity | 12.54M | 12.3M | 15.33M | 12.53M | 10.93M | 8.4M | -85.39M | -91.52M |
| Common Stock | 11K | 11K | 10K | 10K | 10K | 10K | -85.39M | -91.52M |
| Retained Earnings | -3.96M | -2.64M | 4.79M | 4.25M | 3.66M | 1.53M | 0 | 0 |
| Treasury Stock | 0 | -1.09M | -638K | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 61.63M | 67.34M | 94.05M | 84.92M | 82.21M | 74.44M | 0 | 0 |
Quick answers to the most common questions about buying BRLT stock.
As of 2025, Brilliant Earth Group, Inc. (BRLT) had total assets of $200.9M including $144.7M in current assets.
Brilliant Earth Group, Inc. (BRLT) carries total debt of $38.1M, offset by $79.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Brilliant Earth Group, Inc. (BRLT) has total shareholders' equity (book value) of $12.3M ($5.40 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Brilliant Earth Group, Inc. (BRLT) reported a current ratio of 1.61x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Liquidity and solvency pressure
Metrics are mathematically derived from official filings.
Balance Sheet Contraction Signals Vulnerability
As reported in financial statements, Brilliant Earth's total assets have declined from $281.2 million in 2024Q4 to $183.4 million in 2026Q1, reflecting a significant reduction in the company's resource base that suggests a weakening financial position as the firm navigates ongoing operational losses and capital intensity.
The consistent decline in total assets alongside a shrinking equity base indicates that the company is consuming its capital reserves to fund operations. This trajectory warrants close monitoring, as the reduction in asset scale may limit the company's flexibility to pivot its strategy or weather prolonged periods of negative cash flow.
Leverage Dynamics Reflect Capital Necessity
Based on the company's reported figures, the debt-to-equity ratio has fluctuated significantly, reaching 0.54 in 2026Q1, which highlights a reliance on external financing to support operations despite the company's stated asset-light model and the inherent volatility of its luxury retail business cycle.
While the absolute debt level has decreased from its 2024 peak, the persistent reliance on debt in the face of negative retained earnings suggests that leverage is driven by operational necessity rather than strategic growth. Investors should consider whether current debt levels remain sustainable if the company fails to return to consistent profitability.
Liquidity Buffer Facing Persistent Erosion
According to recent SEC filings, Brilliant Earth's cash position has dropped from $161.9 million in 2024Q4 to $58.6 million in 2026Q1, indicating a rapid depletion of liquid assets that may constrain the company's ability to fund future showroom expansions or manage seasonal working capital requirements.
The current ratio of 1.58, while seemingly adequate, masks the underlying trend of cash burn that has characterized the last several quarters. The rapid decline in cash reserves suggests that the company's liquidity buffer is narrowing, which may force management to prioritize cash preservation over growth initiatives.
Equity Erosion Through Accumulated Losses
As indicated by the company's balance sheet, total equity has dwindled to $11.4 million in 2026Q1, a trend driven by the accumulation of negative retained earnings that now stand at -$4.2 million, signaling a significant deterioration in shareholder value over the observed ten-quarter period.
The erosion of equity highlights the impact of sustained net losses on the company's capital structure. Without a clear path to profitability, the continued depletion of retained earnings may eventually necessitate dilutive equity financing to maintain the company's solvency, which would further impact existing shareholders.