Black Rock Coffee Bar, Inc. filings document the public-company records of a Texas corporation operating coffee bars under Nasdaq symbol BRCB. Registration statements and related 8-K reports describe the Class A common stock IPO, Black Rock Coffee Holdings, LLC operating-company agreements, tax receivable agreement, registration rights agreement, voting agreements and Class A, Class B and Class C common stock structure.
Other disclosures cover quarterly and annual results releases, annual-meeting proxy matters, director elections, auditor ratification, changes in the certifying accountant, board changes, emerging growth company status, internal-control matters and governance arrangements affecting voting rights.
Black Rock Coffee Bar, Inc. files its annual report detailing a high-growth, drive-thru focused coffee concept that has expanded to 181 company-owned locations across seven states as of December 31, 2025. The company completed a 2025 IPO of 16.9 million Class A shares at $20.00 per share, raising approximately $314.6 million and implementing a multi-class equity structure with Class A, B, and C shares and 50.1 million LLC Units.
IPO proceeds, together with a Co-Founder contribution and new credit facilities, were used to refinance $113.2 million under a prior credit facility, pay $8.0 million of offering expenses, and fund general corporate purposes. The business emphasizes premium beverages (including proprietary Fuel energy drinks that generated about 24% of 2025 revenue), a rapidly adopted loyalty program accounting for roughly 63% of 2025 sales, and technology-enabled ordering and analytics. The company reports a history of net losses and highlights extensive risk factors around competition, store growth execution, supply chain, labor, leverage, the Tax Receivable Agreement, and control implications of its multi-class structure.
Black Rock Coffee Bar reported strong growth for the fourth quarter and full year 2025 while still posting a sizable annual loss. Fourth quarter revenue rose to $53.6 million, up 25.3% year over year, with same store sales up 9.3% and 12 new stores opened. Q4 net income was $1.6 million versus a prior-year loss, and Adjusted EBITDA increased to $6.5 million.
For 2025, revenue reached $200.3 million, up 24.5%, but net loss widened to $16.5 million even as Adjusted EBITDA rose to $27.5 million. The company ended the year with $28.4 million in cash and $26.7 million in total debt. Management expects 2026 revenue of $255–$257 million, Adjusted EBITDA of $33.5–$34.5 million, and 36 new store openings. Two directors, Bryan Pereboom and Jake Spellmeyer, resigned from the board, and the company stated their decisions were not due to disagreements over operations or policies.
Gilder Gagnon Howe & Co. LLC reported beneficial ownership of 976,304 shares of Black Rock Coffee Bar, Inc. Class A common stock, representing 5.6% of that class as of 12/31/2025. The firm reports no sole voting or dispositive power, but shared dispositive power over all 976,304 shares.
The filing states that the securities were acquired and are held in the ordinary course of business and not to change or influence control of Black Rock Coffee Bar, Inc. It also notes that one or more other persons have rights to dividends or sale proceeds, but no other person holds more than 5% of the Class A shares.
Black Rock Coffee Bar, Inc. received an updated ownership report showing that Morgan Stanley and Morgan Stanley Investment Management Inc. beneficially own 1,292,154 shares of Class A common stock, representing 7.4% of the class as of 12/31/2025.
The filing states these securities were acquired and are held in the ordinary course of business, and not for the purpose of changing or influencing control of the company. Voting and dispositive power is reported on a shared basis across the Morgan Stanley reporting units identified in the filing.
Black Rock Coffee Bar, Inc. received a Schedule 13G filing from Wellington entities reporting a passive ownership position in its common stock. As of 12/31/2025, Wellington Management Group LLP and related entities beneficially owned 943,524 shares, representing 5.4% of the outstanding common stock.
The filing shows no sole voting or dispositive power, with all voting and dispositive authority shared. The shares are owned of record by clients of various Wellington investment advisers, which are controlled through a holding-company structure headed by Wellington Management Group LLP. Wellington certifies the holdings were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Black Rock Coffee Bar.
FMR LLC has disclosed a significant ownership stake in Black Rock Coffee Bar Inc. As of 01/30/2026, FMR and related reporting person Abigail P. Johnson beneficially own 2,019,958 shares of the company’s Class A common stock, representing 11.6% of the class.
FMR holds sole voting power over 2,019,824 shares and sole dispositive power over 2,019,958 shares, with no shared voting or dispositive power. The securities are reported as being held in the ordinary course of business and not for the purpose of changing or influencing control of the company. One or more other persons may receive dividends or sale proceeds, but no such person holds more than 5% of the outstanding Class A common stock.
The Vanguard Group filed a Schedule 13G reporting a passive ownership position in Black Rock Coffee Bar Inc. As of the event date of 12/31/2025, Vanguard beneficially owned 886,463 shares of common stock, representing 5.07% of the class.
Vanguard reports no sole voting or dispositive power over the shares, with 115,765 shares subject to shared voting power and 886,463 shares subject to shared dispositive power. The filing states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of the company.
The filing notes that Vanguard’s clients, including registered investment companies and other managed accounts, have rights to dividends and sale proceeds, with no other single person holding more than 5% through these interests. Vanguard also discloses an internal realignment effective January 12, 2026, after which certain subsidiaries are expected to report beneficial ownership on a disaggregated basis.
Black Rock Coffee Bar, Inc. received an updated large-holder disclosure from Massachusetts Financial Services Company (MFS). MFS reports beneficial ownership of 1,105,320 shares of common stock, representing 6.3% of the class as of the event date.
MFS has sole voting and dispositive power over these shares and no shared power. It states the position is held in the ordinary course of business and not for the purpose of changing or influencing control of Black Rock Coffee Bar, Inc.
BlackRock, Inc. has filed a Schedule 13G reporting beneficial ownership of 911,974 shares of BLACK ROCK COFFEE BAR INC Class A stock, representing 5.2% of the class as of 12/31/2025. BlackRock reports sole voting power over 901,263 shares and sole dispositive power over 911,974 shares, with no shared voting or dispositive power.
The filing is made on behalf of specific BlackRock business units and classifies BlackRock as a parent holding company or control person (HC). The shares are stated to be held in the ordinary course of business and not for the purpose of changing or influencing control of Black Rock Coffee Bar Inc. Various underlying clients have rights to dividends or sale proceeds, but no single client holds more than five percent of the outstanding common shares.
Black Rock Coffee Bar, Inc. (BRCB) filed its Q3 2025 report, showing rapid growth and a post-IPO balance sheet shift. Total revenue reached $51.5 million for the quarter, up from $41.5 million a year ago, driven by higher store revenue. The company reported a net loss of $16.2 million, reflecting heavier SG&A and pre-opening costs, with net loss attributable to Black Rock Coffee Bar, Inc. of $0.7 million and basic/diluted EPS of $-0.05 for the post-IPO period.
The September IPO issued 16.9 million Class A shares at $20.00, generating approximately $306.5 million in net proceeds. The company used proceeds, together with a $62.4 million co-founder contribution and new debt, to refinance and repay $113.2 million under its prior facility, and ended the quarter with $20.0 million outstanding on a new term loan maturing in 2030 at a 6.75% weighted-average rate. Cash and cash equivalents were $32.6 million as of September 30, 2025. The balance sheet added a $52.9 million deferred tax asset and a $40.6 million Tax Receivable Agreement liability. As of quarter end, the company operated 169 stores across seven states.