BRC Inc. Reports Second Quarter 2026 Financial Results
Key Terms
all commodity volume financial
adjusted ebitda financial
non-gaap financial measure financial
forward-looking statements regulatory
Financial Highlights
-
Net revenue increased
12.8% compared to Q2 2025, driven primarily by growth in Wholesale and Direct-to-Consumer channels. -
Wholesale revenue increased
15.2% , while Direct-to-Consumer ("DTC") revenue increased13.6% , marking DTC's strongest quarterly growth in over four years. -
Packaged coffee distribution increased 2.6 points to
56.5% All Commodity Volume ("ACV"). -
Net loss improved to
$0.2 million $14.5 million $6.3 million $2.4 million -
For the full year 2026, the Company continues to expect at least
8% revenue growth and at least35% Adjusted EBITDA growth, reflecting continued strength in the Company's operating performance.
“Our second quarter performance reflects continued execution against the priorities we established for 2026 and the strength of our core coffee business,” said BRCC Chief Executive Officer Chris Mondzelewski. “Expanded distribution and increased shelf presence drove strong Wholesale growth as part of our land-and-expand strategy, while Direct-to-Consumer delivered its strongest year-over-year growth rate in more than four years. Our programming around America’s 250th anniversary has been in market since the beginning of the year and ramped up throughout the second quarter. These efforts give us a timely way to reach more consumers, reinforce the values that define BRCC and expand our support for veterans, service members and first responders.”
“The business delivered strong second quarter revenue and Adjusted EBITDA growth while continuing to improve cash conversion,” said BRCC Chief Financial Officer Matt Amigh. “Gross margin stabilized during the first half of 2026, including modest expansion in the second quarter, and we expect greater improvement in the second half of 2026 as lower green coffee costs begin to flow through cost of sales, supported by ongoing portfolio mix and productivity initiatives. We remain highly focused on driving structural improvements across the operating model to support earnings growth and improve working capital efficiency. These initiatives are already increasing cash generation and strengthening the balance sheet, while building a foundation to support sustained progress as the business grows. Based on our first-half results and execution against our full-year plan, we are maintaining our outlook of at least
Second Quarter 2026 Financial Highlights (in millions, except % data)
|
Second Quarter Comparisons |
||||||||||||
|
|
2026 |
|
|
|
2025 |
|
|
$ Change |
|
% Change |
||
Net Revenue |
$ |
107.0 |
|
|
$ |
94.8 |
|
|
$ |
12.2 |
|
12.8 |
% |
Gross Profit |
$ |
36.5 |
|
|
$ |
32.2 |
|
|
$ |
4.3 |
|
13.4 |
% |
Gross Margin |
|
34.1 |
% |
|
|
33.9 |
% |
|
|
|
|
||
|
|
|
|
|
|
|
|
||||||
Net Loss |
$ |
(0.2 |
) |
|
$ |
(14.5 |
) |
|
$ |
14.3 |
|
|
|
Adjusted EBITDA |
$ |
6.3 |
|
|
$ |
2.4 |
|
|
$ |
3.9 |
|
163.5 |
% |
Second Quarter 2026 Results
Net revenue for the second quarter of 2026 increased
Direct-to-Consumer ("DTC") revenue increased
Gross profit increased
Marketing expenses increased
Salaries, wages and benefits expenses decreased
General and administrative ("G&A") expenses decreased
Other operating expenses, net decreased
Net loss for the second quarter of 2026 was
Financial Outlook
The Company affirms the following guidance based on current market conditions and expectations for revenue, gross margin, and adjusted EBITDA. Adjusted EBITDA is a non-GAAP financial measure.
The Company’s fiscal 2026 guidance reflects a disciplined and measured approach to forecasting, incorporating current commodity conditions and planned growth investments. Management remains focused on consistent execution to drive steady revenue progression, margin improvement, EBITDA expansion, and strengthened cash generation.
For full-year fiscal 2026, the Company affirms the following guidance (in millions, except % data):
|
FY2025 |
|
FY2026 |
|
Actual |
|
Guidance |
Net Revenue |
|
|
At least |
|
|
|
|
Gross Margin |
|
|
|
|
|
|
|
Adj. EBITDA |
|
|
At least |
The guidance provided above constitutes forward-looking statements and actual results may differ materially. Refer to the “Forward-Looking Statements” safe harbor section below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.
We have not reconciled forward-looking Adjusted EBITDA to its most directly comparable GAAP measure, net income (loss), in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. We cannot predict with reasonable certainty the ultimate outcome of certain components of such reconciliation, including market-related assumptions that are not within our control, or others that may arise, without unreasonable effort. For these reasons, we are unable to assess the probable significance of the unavailable information, which could materially impact the amount of future net income (loss). See “Non-GAAP Financial Measures” for additional important information regarding Adjusted EBITDA.
Conference Call
A conference call to discuss the Company’s second quarter results is scheduled for August 4, 2026, at 8:30 a.m. ET. Those who wish to participate in the call may do so by dialing (877) 407-0609 or (201) 689-8541 for international callers. A webcast of the call will be available on the investor relation's page of the Company’s website at ir.blackriflecoffee.com. For those unable to attend the conference call, a replay will be available after the conclusion of the call through August 18, 2026. The
About BRC Inc.
Black Rifle Coffee Company (BRCC) is a Veteran-founded premium coffee company and lifestyle brand serving beverages to people who love America. Founded in 2014 by Green Beret Evan Hafer, Black Rifle develops their explosive roast profiles with the same mission focus they learned while serving in the military. BRCC is committed to supporting Veterans, active-duty military, first responders and the American way of life.
To learn more, visit www.blackriflecoffee.com, subscribe to the BRCC newsletter, or follow along on social media.
Forward-Looking Statements
This press release contains forward-looking statements about the Company and its industry that involve substantial risks and uncertainties. All statements other than statements of historical fact contained in this press release, including statements regarding the Company’s intentions, beliefs or current expectations concerning, among other things, the Company’s financial condition, liquidity, prospects, growth, strategies, future market conditions, developments in the capital and credit markets and expected future financial performance, as well as any information concerning possible or assumed future results of operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking.
The events and circumstances reflected in the Company’s forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. Factors that may cause such forward-looking statements to differ from actual results include, but are not limited to: competition and our ability to grow, manage sustainable expansion, and retain key employees; failure to compete effectively with other producers, distributors and retailers of coffee and energy drinks; our limited operating history, which may hinder the successful execution of strategic initiatives and make it difficult to assess future risks and challenges; challenges in managing rapid growth, inventory needs, and relationships with key business partners; inability to raise additional capital necessary for business development; failure to achieve or sustain long-term profitability; inability to effectively manage debt obligations; failure to maximize the value of assets received through bartering transactions; negative publicity affecting our brand, reputation, or that of key employees; failure to uphold our position as a supportive member of the military, Veteran and first-responder communities, or other factors negatively affecting brand perception; inability to establish and maintain strong brand recognition through intellectual property or other means; shifts in consumer spending, lack of interest in new products or changes in brand perception upon evolving consumer preferences and tastes, including due to shifts in demographic or health and wellness trends, reduction in discretionary spending and price increases, and our ability to anticipate or react to these changes; price changes that are insufficient to offset cost increases; unsuccessful marketing campaigns that incur costs without attracting new customers or realizing higher revenue; failure to attract new customers or retain existing customers; risks associated with reliance on social media platforms, including dependence on third-party platforms for marketing and engagement; variable performance of the direct to consumer revenue channel; inability to effectively manage or scale distribution through Wholesale business partners, particularly key Wholesale partners; failure to manage supply chain operations effectively, including inaccurate forecasting of raw material and co-manufacturing requirements; loss of one or more co-manufacturers or production delays, quality issues, or labor-related disruptions affecting manufacturing output; supply chain disruptions or failures by third-party suppliers and logistics service-providers to deliver coffee, store supplies, RTD beverage ingredients, or merchandise, including disruptions caused by external factors; ongoing risks related to supply chain volatility and reliability, including tariffs, as well as political and climate risks; fluctuations in the market for high-quality coffee beans and other key commodities; unpredictable changes in the cost and availability of labor, raw materials, equipment, transportation, or shipping; failure to successfully improve profitability of existing Outposts, including challenges or delays with the implementation of operational and strategic changes; risks related to long-term, non-cancelable lease obligations and other real estate-related concerns; inability of franchise partners to successfully operate and manage their franchise locations; failure to maintain high-quality customer experiences for retail partners and end users, including production defects or issues caused by co-manufacturers that negatively impact product quality and brand reputation; failure to comply with food safety regulations or maintain product quality standards; difficulties in successfully expanding into new markets; failure to comply with federal, state, and local laws and regulations, or inability to prevail in civil litigation matters; risks related to potential unionization of employees; failure to execute our operational improvement plan to reduce costs and improve efficiency of certain company-wide functions; failure to protect against cybersecurity threats, software vulnerabilities, or hardware security risks; volatility in the trading prices of our Class A Common Stock; and other risks and uncertainties indicated in our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (the “SEC”) on March 2, 2026 including those set forth under “Item 1A. Risk Factors” included therein, as well as in our other filings with the SEC. Such forward-looking statements are based on information available as of the date of this press release and the Company’s current beliefs and expectations concerning future developments and their effects on the Company, and speak only as of the date hereof. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not place undue reliance on these forward-looking statements as predictions of future events. Although the Company believes that it has a reasonable basis for each forward-looking statement contained in this press release, the Company cannot guarantee that the future results, growth, performance or events or circumstances reflected in these forward-looking statements will be achieved or occur at all. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
BRC Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share and per share amounts) |
|||||||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
Revenue, net |
$ |
107,020 |
|
|
$ |
94,837 |
|
|
$ |
216,247 |
|
|
$ |
184,812 |
|
Cost of goods sold |
|
70,537 |
|
|
|
62,664 |
|
|
|
143,676 |
|
|
|
120,165 |
|
Gross profit |
|
36,483 |
|
|
|
32,173 |
|
|
|
72,571 |
|
|
|
64,647 |
|
Operating expenses |
|
|
|
|
|
|
|
||||||||
Marketing and advertising |
|
10,530 |
|
|
|
9,770 |
|
|
|
20,710 |
|
|
|
21,092 |
|
Salaries, wages, and benefits |
|
15,468 |
|
|
|
15,791 |
|
|
|
29,577 |
|
|
|
29,354 |
|
General and administrative |
|
9,271 |
|
|
|
14,311 |
|
|
|
19,369 |
|
|
|
26,099 |
|
Other operating expense, net |
|
113 |
|
|
|
4,925 |
|
|
|
495 |
|
|
|
6,158 |
|
Total operating expenses |
|
35,382 |
|
|
|
44,797 |
|
|
|
70,151 |
|
|
|
82,703 |
|
Operating income (loss) |
|
1,101 |
|
|
|
(12,624 |
) |
|
|
2,420 |
|
|
|
(18,056 |
) |
Non-operating expenses |
|
|
|
|
|
|
|
||||||||
Interest expense, net |
|
(1,254 |
) |
|
|
(1,844 |
) |
|
|
(2,494 |
) |
|
|
(4,213 |
) |
Total non-operating expenses |
|
(1,254 |
) |
|
|
(1,844 |
) |
|
|
(2,494 |
) |
|
|
(4,213 |
) |
Loss before income taxes |
|
(153 |
) |
|
|
(14,468 |
) |
|
|
(74 |
) |
|
|
(22,269 |
) |
Income tax expense |
|
33 |
|
|
|
44 |
|
|
|
66 |
|
|
|
88 |
|
Net loss |
|
(186 |
) |
|
|
(14,512 |
) |
|
|
(140 |
) |
|
|
(22,357 |
) |
Less: Net loss attributable to non-controlling interest |
|
(83 |
) |
|
|
(9,183 |
) |
|
|
(22 |
) |
|
|
(14,141 |
) |
Net loss attributable to BRC Inc. |
$ |
(103 |
) |
|
$ |
(5,329 |
) |
|
$ |
(118 |
) |
|
$ |
(8,216 |
) |
|
|
|
|
|
|
|
|
||||||||
Net loss per share attributable to Class A Common Stock |
|
|
|
|
|
|
|
||||||||
Basic and diluted |
$ |
0.00 |
|
|
$ |
(0.07 |
) |
|
$ |
0.00 |
|
|
$ |
(0.10 |
) |
Weighted-average shares of Class A Common Stock outstanding |
|
|
|
|
|
|
|
||||||||
Basic and diluted |
|
117,827,656 |
|
|
|
79,146,003 |
|
|
|
116,619,198 |
|
|
|
78,780,708 |
|
BRC Inc. CONSOLIDATED BALANCE SHEETS (in thousands, except share and par value amounts) |
|||||||
|
June 30, |
|
December 31, |
||||
|
|
2026 |
|
|
|
2025 |
|
Assets |
|
|
|
||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
12,029 |
|
|
$ |
4,330 |
|
Accounts receivable, net |
|
32,890 |
|
|
|
35,057 |
|
Inventories, net |
|
45,640 |
|
|
|
49,703 |
|
Prepaid expenses and other current assets |
|
13,437 |
|
|
|
11,235 |
|
Total current assets |
|
103,996 |
|
|
|
100,325 |
|
Property, plant, and equipment, net |
|
39,779 |
|
|
|
42,855 |
|
Operating lease, right-of-use asset |
|
20,171 |
|
|
|
21,205 |
|
Non-current prepaid marketing expenses |
|
41,651 |
|
|
|
44,432 |
|
Identifiable intangibles, net |
|
270 |
|
|
|
300 |
|
Other |
|
125 |
|
|
|
126 |
|
Total assets |
$ |
205,992 |
|
|
$ |
209,243 |
|
Liabilities and stockholders' equity |
|
|
|
||||
Current liabilities: |
|
|
|
||||
Accounts payable |
$ |
36,052 |
|
|
$ |
34,721 |
|
Accrued liabilities |
|
29,691 |
|
|
|
32,455 |
|
Deferred revenue and gift card liability |
|
2,902 |
|
|
|
4,033 |
|
Current maturities of long-term debt |
|
2,000 |
|
|
|
2,400 |
|
Current operating lease liability |
|
2,527 |
|
|
|
2,481 |
|
Current maturities of finance lease obligations |
|
4 |
|
|
|
4 |
|
Total current liabilities |
|
73,176 |
|
|
|
76,094 |
|
Non-current liabilities: |
|
|
|
||||
Long-term debt, net |
|
29,609 |
|
|
|
32,313 |
|
Finance lease obligations, net of current maturities |
|
13 |
|
|
|
15 |
|
Operating lease liability |
|
23,548 |
|
|
|
24,822 |
|
Other non-current liabilities |
|
6,281 |
|
|
|
7,982 |
|
Total non-current liabilities |
|
59,451 |
|
|
|
65,132 |
|
Total liabilities |
|
132,627 |
|
|
|
141,226 |
|
Stockholders' equity: |
|
|
|
||||
Preferred Stock, |
|
— |
|
|
|
— |
|
Class A Common Stock, |
|
12 |
|
|
|
11 |
|
Class B Common Stock, |
|
13 |
|
|
|
13 |
|
Class C Common Stock, |
|
— |
|
|
|
— |
|
Additional paid in capital |
|
183,761 |
|
|
|
180,973 |
|
Accumulated deficit |
|
(135,462 |
) |
|
|
(135,344 |
) |
Total BRC Inc.'s stockholders' equity |
|
48,324 |
|
|
|
45,653 |
|
Non-controlling interests |
|
25,041 |
|
|
|
22,364 |
|
Total stockholders' equity |
|
73,365 |
|
|
|
68,017 |
|
Total liabilities and stockholders' equity |
$ |
205,992 |
|
|
$ |
209,243 |
|
BRC Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) |
|||||||
|
Six Months Ended June 30, |
||||||
|
|
2026 |
|
|
|
2025 |
|
Operating activities |
|
|
|
||||
Net loss |
$ |
(140 |
) |
|
$ |
(22,357 |
) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |
|
|
|
||||
Depreciation and amortization |
|
4,180 |
|
|
|
6,536 |
|
Equity-based compensation |
|
5,702 |
|
|
|
5,331 |
|
Amortization of debt issuance costs |
|
546 |
|
|
|
536 |
|
Loss on disposal of assets |
|
— |
|
|
|
839 |
|
Paid-in-kind interest |
|
— |
|
|
|
1,155 |
|
Other |
|
30 |
|
|
|
423 |
|
Changes in operating assets and liabilities: |
|
|
|
||||
Accounts receivable, net |
|
2,137 |
|
|
|
3,967 |
|
Inventories, net |
|
4,023 |
|
|
|
(6,341 |
) |
Prepaid expenses and other assets |
|
1,653 |
|
|
|
(1,595 |
) |
Accounts payable |
|
1,328 |
|
|
|
(3,590 |
) |
Accrued liabilities |
|
(2,764 |
) |
|
|
10,067 |
|
Deferred revenue and gift card liability |
|
(1,131 |
) |
|
|
(148 |
) |
Operating lease liability |
|
(1,228 |
) |
|
|
(1,285 |
) |
Other liabilities |
|
(1,701 |
) |
|
|
(1,002 |
) |
Net cash provided by (used in) operating activities |
|
12,635 |
|
|
|
(7,464 |
) |
Investing activities |
|
|
|
||||
Purchases of property, plant, and equipment |
|
(1,093 |
) |
|
|
(2,147 |
) |
Proceeds from sale of property and equipment |
|
23 |
|
|
|
— |
|
Net cash used in investing activities |
|
(1,070 |
) |
|
|
(2,147 |
) |
Financing activities |
|
|
|
||||
Proceeds from ABL Facility |
|
26,500 |
|
|
|
197,457 |
|
Debt issuance costs paid |
|
— |
|
|
|
(225 |
) |
Repayment of long-term debt |
|
(29,750 |
) |
|
|
(190,932 |
) |
Financing lease obligations |
|
(2 |
) |
|
|
11 |
|
Repayment of promissory note |
|
(400 |
) |
|
|
(400 |
) |
Tax withholdings on vested Restricted Stock Units |
|
(273 |
) |
|
|
— |
|
Issuance of stock from the Employee Stock Purchase Plan |
|
59 |
|
|
|
194 |
|
Proceeds received for settlement agreement |
|
— |
|
|
|
1,000 |
|
Net cash provided by (used in) financing activities |
|
(3,866 |
) |
|
|
7,105 |
|
|
|
|
|
||||
Net increase (decrease) in cash, cash equivalents |
|
7,699 |
|
|
|
(2,506 |
) |
Cash and cash equivalents, beginning of period |
|
4,330 |
|
|
|
6,810 |
|
Cash and cash equivalents, end of period |
$ |
12,029 |
|
|
$ |
4,304 |
|
|
|
|
|
||||
Supplemental cash flow disclosures |
|
|
|
||||
Recognition of revenue for inventory exchanged for prepaid advertising |
$ |
(40 |
) |
|
$ |
406 |
|
Increase in insurance receivables as a result of legal settlement |
|
— |
|
|
|
2,500 |
|
Property and equipment purchased but not yet paid |
|
35 |
|
|
|
(4 |
) |
Cash paid for income taxes |
|
133 |
|
|
|
334 |
|
Cash paid for interest |
|
2,170 |
|
|
|
1,822 |
|
KEY OPERATING AND FINANCIAL METRICS |
|||||||||||
Revenue by Sales Channel |
|
|
|
|
|
|
|
||||
(in thousands) |
|
|
|
|
|
|
|
||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
Wholesale |
$ |
70,623 |
|
$ |
61,316 |
|
$ |
145,325 |
|
$ |
118,107 |
DTC |
|
31,400 |
|
|
27,640 |
|
|
61,120 |
|
|
55,361 |
Outpost |
|
4,997 |
|
|
5,881 |
|
|
9,802 |
|
|
11,344 |
Total net sales |
$ |
107,020 |
|
$ |
94,837 |
|
$ |
216,247 |
|
$ |
184,812 |
Key Operational Metrics |
|
|
|
||
|
June 30, |
||||
|
2026 |
|
|
2025 |
|
Coffee ACV %(1) |
56.5 |
% |
|
53.9 |
% |
Ready-to-Drink Coffee ACV %(2) |
52.4 |
% |
|
53.4 |
% |
Outposts |
|
|
|
||
Company-owned stores |
17 |
|
|
17 |
|
Franchise stores |
21 |
|
|
20 |
|
Total Outposts |
38 |
|
|
37 |
|
(1) |
Coffee ACV% calculated as the "Packaged Coffee" category within Nielsen. Nielsen Total US xAOC, 4-weeks ending 6/27/26 and 4-weeks ending 6/28/25. |
|
(2) |
RTD ACV% calculated for the “RTD Coffee” category (Plus Monster-Java) for single-serve RTD coffee within Nielsen. Nielsen Total US xAOC + Conv, 4-weeks ending 6/27/26 and 4-weeks ending 6/28/25. |
Non-GAAP Financial Measures
To evaluate the performance of our business, we rely on both our results of operations recorded in accordance with generally accepted accounting principles in
We define EBITDA as net income (loss) before interest, tax expense, depreciation and amortization expense. We define Adjusted EBITDA, as EBITDA adjusted for equity-based compensation, write-off of site development costs, non-routine legal expenses and restructuring fees and related costs.
When used in conjunction with GAAP financial measures, we believe that EBITDA and Adjusted EBITDA are useful supplemental measures of operating performance and liquidity because these measures facilitate comparisons of historical performance by excluding non-cash items such as equity-based compensation and other amounts not directly attributable to our primary operations, such as write-off of site development costs, non-routine legal expense and restructuring fees and related costs. Adjusted EBITDA is also a key metric used internally by our management to evaluate performance and develop internal budgets and forecasts. EBITDA and Adjusted EBITDA have limitations as an analytical tool and should not be considered in isolation or as a substitute for analyzing our results as reported under GAAP and may not provide a complete understanding of our operating results as a whole. Some of these limitations are (i) they do not reflect changes in, or cash requirements for, our working capital needs, (ii) they do not reflect our interest expense or the cash requirements necessary to service interest or principal payments on our debt, (iii) they do not reflect our tax expense or the cash requirements to pay our taxes, (iv) they do not reflect historical capital expenditures or future requirements for capital expenditures or contractual commitments, (v) although equity-based compensation expenses are non-cash charges, we rely on equity compensation to compensate and incentivize employees, directors and certain consultants, and we may continue to do so in the future and (vi) although depreciation, amortization and impairments are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and these non-GAAP measures do not reflect any cash requirements for such replacements.
A reconciliation of net income (loss), the most directly comparable GAAP measure, to EBITDA and Adjusted EBITDA is set forth below:
Reconciliation of Net Loss to Adjusted EBITDA |
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(in thousands) |
|
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Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
Net loss |
$ |
(186 |
) |
|
$ |
(14,512 |
) |
|
$ |
(140 |
) |
|
$ |
(22,357 |
) |
Interest expense |
|
1,254 |
|
|
|
1,844 |
|
|
|
2,494 |
|
|
|
4,213 |
|
Tax expense |
|
33 |
|
|
|
44 |
|
|
|
66 |
|
|
|
88 |
|
Depreciation and amortization |
|
2,018 |
|
|
|
3,960 |
|
|
|
4,180 |
|
|
|
6,536 |
|
EBITDA |
$ |
3,119 |
|
|
$ |
(8,664 |
) |
|
$ |
6,600 |
|
|
$ |
(11,520 |
) |
Equity-based compensation(1) |
|
2,968 |
|
|
|
2,741 |
|
|
|
5,702 |
|
|
|
5,331 |
|
Write-off of site development costs(2) |
|
3 |
|
|
|
(14 |
) |
|
|
126 |
|
|
|
811 |
|
Non-routine legal expense(3) |
|
— |
|
|
|
6,172 |
|
|
|
(32 |
) |
|
|
6,510 |
|
Restructuring fees and related costs(4) |
|
193 |
|
|
|
2,149 |
|
|
|
1,224 |
|
|
|
2,149 |
|
Adjusted EBITDA |
$ |
6,283 |
|
|
$ |
2,384 |
|
|
$ |
13,620 |
|
|
$ |
3,281 |
|
(1) |
Represents the non-cash expense related to our equity-based compensation arrangements for employees, directors, and consultants. |
|
(2) |
Represents the write-off of development costs for discontinued retail locations. |
|
(3) |
Represents legal costs and fees incurred as well as the settlement of non-routine litigation related to the exercise of warrants issued in connection with our business combination, net of insurance recoveries. For more information about our litigation matters see our Annual Report on Form 10-K for fiscal year ended December 31, 2025 and the other filings we make with the SEC. |
|
(4) |
Represents costs incurred related to restructuring as part of our Operational Improvement Plan. Costs for the three months ended June 30, 2026 include |
View source version on businesswire.com: https://www.businesswire.com/news/home/20260803752498/en/
Investor Contacts:
Matt McGinley: IR@BlackRifleCoffee.com
ICR for BRCC: BlackrifleIR@icrinc.com
Source: BRC Inc.