FinancialsFeb 15, 2023
Boucheron, Pomellato Post ‘Outstanding' Year for KeringFinancialsMar 16, 2023
Brilliant Earth Took a Record Number of Orders in 2022
In its recent results, the company highlighted non-bridal jewelry sales and said its “inventory-light” showroom model may change.
A “Cotillion” cultured pearl and diamond ring in 18-karat yellow gold ($1,390) from Brilliant Earth’s cocktail ring collection. The company saw net sales slip 2 percent in the fourth quarter but rise 16 percent for the full year.
San Francisco—Brilliant Earth ended its fiscal year on a high note, in spite of a slide in the fourth quarter.
“It was a great year for our brand,” CEO Beth Gerstein said on an earnings call Thursday evening.
She highlighted the company’s double-digit revenue growth, its gross margin increase and strong profitability, noting the fourth quarter exceeded its bottom-line expectations.
Here are five key takeaways from Brilliant Earth’s fourth-quarter and full-year results.
It was a strong year for Brilliant Earth, but a weak fourth quarter.
Net sales in the fourth quarter, which ended Dec. 31, slipped 2 percent year-over-year to $119.6 million, with net income falling 46 percent to $6.2 million.
Gross profit was $65.4 million, or a 55 percent gross profit margin, compared to $62.3 million, or a 51 percent gross profit margin, in the prior-year period.
Notably, ahead of the holiday season, Brilliant Earth said it would not be discounting to sell through its inventory, with Gerstein adding, “we don’t believe in chasing unprofitable growth.”
The total number of orders rose 14 percent, though the average order value (AOV) fell 14 percent.
The company’s full-year results were better, with net sales up 16 percent to $439.9 million.
However, net income fell 28 percent to $19 million.
Gross profit was $234.3 million, or a 53 percent gross profit margin, compared to $187.4 million, or a 49 percent gross profit margin, in the prior-year period.
Brilliant Earth took a record 149,613 orders in 2022, with total orders up 27 percent year-over-year but AOV down 9 percent.
The company has noted in previous quarters that sales of non-bridal fine jewelry are on the rise but the category has a lower average price point, which is bringing down its AOV.
On Wednesday’s call, Chief Financial Officer Jeff Kuo attributed the decline in AOV to strong demand for items priced below $10,000, in addition to the popularity of its non-bridal fine jewelry.
Brilliant Earth will continue to invest in non-bridal fine jewelry.
Brilliant Earth is best known for its bridal offerings but has been expanding its fine jewelry selection.
It has branched out into cocktail rings and men’s jewelry and has collaborated with popular designers for new collections, including Tacori and Jade Trau.
The company continued to see strong growth in non-bridal fine jewelry and plans to continue to invest in the category.
In Q4, fashion rings, particularly cocktail rings, did well, as did on-trend tennis bracelets and necklaces.
“We know our fine jewelry is attracting new customers to our brand,” said Gerstein, noting that one-third of new customers bought non-bridal fine jewelry.
Its wedding bands were also top sellers.
“2021 was an unprecedented year of growth in bridal for our industry, and, while we anticipate some normalization over the course of this year, we expect to continue to drive share gains as we introduce new collections,” said Gerstein, hinting at some newness coming in the next few weeks.
The brand is resonating with Gen-Z and millennial shoppers, and self-purchasers.
The company also boasted about its appeal to Gen-Z and millennial customers.
Online searches for Brilliant Earth reached an all-time high in Q4, said the company.
The number of customers served in 2022 grew 25 percent.
Related stories will be right here …
“It was a great year for our brand,” CEO Beth Gerstein said on an earnings call Thursday evening.
She highlighted the company’s double-digit revenue growth, its gross margin increase and strong profitability, noting the fourth quarter exceeded its bottom-line expectations.
Here are five key takeaways from Brilliant Earth’s fourth-quarter and full-year results.
It was a strong year for Brilliant Earth, but a weak fourth quarter.
Net sales in the fourth quarter, which ended Dec. 31, slipped 2 percent year-over-year to $119.6 million, with net income falling 46 percent to $6.2 million.
Gross profit was $65.4 million, or a 55 percent gross profit margin, compared to $62.3 million, or a 51 percent gross profit margin, in the prior-year period.
Notably, ahead of the holiday season, Brilliant Earth said it would not be discounting to sell through its inventory, with Gerstein adding, “we don’t believe in chasing unprofitable growth.”
The total number of orders rose 14 percent, though the average order value (AOV) fell 14 percent.
The company’s full-year results were better, with net sales up 16 percent to $439.9 million.
However, net income fell 28 percent to $19 million.
Gross profit was $234.3 million, or a 53 percent gross profit margin, compared to $187.4 million, or a 49 percent gross profit margin, in the prior-year period.
Brilliant Earth took a record 149,613 orders in 2022, with total orders up 27 percent year-over-year but AOV down 9 percent.
The company has noted in previous quarters that sales of non-bridal fine jewelry are on the rise but the category has a lower average price point, which is bringing down its AOV.
On Wednesday’s call, Chief Financial Officer Jeff Kuo attributed the decline in AOV to strong demand for items priced below $10,000, in addition to the popularity of its non-bridal fine jewelry.
Brilliant Earth will continue to invest in non-bridal fine jewelry.
Brilliant Earth is best known for its bridal offerings but has been expanding its fine jewelry selection.
It has branched out into cocktail rings and men’s jewelry and has collaborated with popular designers for new collections, including Tacori and Jade Trau.
The company continued to see strong growth in non-bridal fine jewelry and plans to continue to invest in the category.
In Q4, fashion rings, particularly cocktail rings, did well, as did on-trend tennis bracelets and necklaces.
“We know our fine jewelry is attracting new customers to our brand,” said Gerstein, noting that one-third of new customers bought non-bridal fine jewelry.
Its wedding bands were also top sellers.
“2021 was an unprecedented year of growth in bridal for our industry, and, while we anticipate some normalization over the course of this year, we expect to continue to drive share gains as we introduce new collections,” said Gerstein, hinting at some newness coming in the next few weeks.
The brand is resonating with Gen-Z and millennial shoppers, and self-purchasers.
The company also boasted about its appeal to Gen-Z and millennial customers.
Online searches for Brilliant Earth reached an all-time high in Q4, said the company.
The number of customers served in 2022 grew 25 percent.
Notably, it touted 70 percent year-over-year estimated growth in women purchasing jewelry for themselves in 2022.
“We know that self-purchase is an important and growing trend in the jewelry category. And, for Brilliant Earth, our strong brand resonance across genders has been a major driver of new customer and order growth,” said Gerstein.
As younger shoppers search for brands aligned with their values, Brilliant Earth continues to work toward being a more sustainable jewelry brand.
Alongside its annual results, Brilliant Earth released its 2022 Mission Report, outlining its ESG (Environmental, Social and Governance) progress and future goals, which focus on “transparency, sustainability, compassion, and inclusion.”
Its goals include using 100 percent recycled or Fairmined certified precious metals by 2025 and improving its traceability efforts.
Brilliant Earth’s store network will keep expanding, and its inventory model may evolve.
Though it started as an online-only business, Brilliant Earth has been expanding its brick-and-mortar presence.
In 2022, the company opened new showrooms in 10 cities, including Houston, Minneapolis, Detroit, and St. Louis.
Its first opening of 2023 was in Charlotte, North Carolina, marking its 26th location. The company plans to open 10 new locations this year, including stores in Brooklyn, New York; Tampa, Florida; and Pasadena, California.
Brilliant Earth’s stores function as showrooms. They are light on inventory, with customers viewing select jewelry on display and then placing orders online.
However, this model may change, said Kuo.
“Over time, as we successfully expand fine jewelry to be a larger percentage of our business and grow our showroom footprint, we do anticipate our inventory model will evolve to accommodate those needs,” he said.
The company is approaching the year ahead with cautious confidence.
Looking to the year ahead, the company is expecting first-quarter net sales of $94 million to $96 million with adjusted EBITDA of $2.5 million to $3.5 million.
For fiscal 2023, Brilliant Earth is forecasting new sales of $460 million to $490 million with adjusted EBITDA of $17 million to $32 million.
Gerstein said, “We feel great about the strength of our brand and the resilience of this category and we are balancing that with some degree of caution given the current environment and recognizing that we are coming off of our biggest year in weddings.”
She added the company has plans to reach new customers and retain the loyalty of its existing ones via design innovation, marketing efforts, expanding its fine jewelry selection, improving its omnichannel experience, and opening new showrooms.
Editors' Picks
Sponsored by
More on Financials
The Latest
Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
SourcingMay 08, 2026
Ronnie VanderLinden Takes Over as WDC President The diamantaire and industry leader succeeds Feriel Zerouki and said he will focus on being a “champion” for natural diamonds.
TrendsMay 08, 2026
Rihanna Chooses ‘Desert Diamonds’ for 2026 Met GalaShe wore our Piece of the Week, Glenn Spiro’s “Old Moghul Golconda” earrings, featuring fancy brown-yellow diamonds totaling 51.90 carats.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
Events & AwardsMay 08, 2026
JA Announces 2026 CASE Award WinnersTwo pieces were named “Best in Show,” one from the retail category and one from the supplier category.
Weekly QuizMay 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsMay 07, 2026
‘Spectacular’ Kashmir Sapphire Headlines Heritage Spring Jewelry SaleLed by the 6.59-carat sapphire, the sale garnered $9.7 million, a record total for a Heritage jewelry auction.
MajorsMay 07, 2026
Gannon & Scott Names New Regional Account ExecutiveIn his new role, sales specialist Billy Welshoff will focus on the eastern United States.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
WatchesMay 07, 2026
Chrono24 Names New CEOJosé Gaztelu has been promoted to the role, which has been vacant since last year.
Events & AwardsMay 07, 2026
JA Accepting Applications for 2026 Scholarship ProgramIt has also opened the application period for the Seymour & Evelyn Holtzman Bench Scholarship through June 30.
SourcingMay 06, 2026
Canada’s Oldest Diamond Mine Faces Uncertain FutureThe owner of the Ekati mine, which opened in 1998, has filed for insolvency protection amid the significant decline in diamond prices.
MajorsMay 06, 2026
Saks Global Begins Layoffs, Reorganization Plans Closer to ApprovalThe retailer will cut 16 percent of its corporate workforce as part of its plan to exit bankruptcy.
AuctionsMay 06, 2026
Steve McQueen’s Heuer Monaco Watch Heads to Sotheby'sOf the many examples used in the filming of “Le Mans,” this one is believed to have spent the most time on Steve McQueen’s wrist.
EditorsMay 05, 2026
This Ohio Designer’s Jewelry Made It to the Met GalaMegan Piccione dressed Lauren Wasser in layers of diamond jewelry, making her stand out in a crowd that included celebrities like Beyoncé.
SourcingMay 05, 2026
Doug Hucker Returns to His RootsFollowing decades of association leadership, the “semi-retired” colored gemstone expert is turning his focus to gemstone education.
Events & AwardsMay 05, 2026
AMNH to Showcase Famous Jewelry, Trophies in Sports HistoryThe museum’s new exhibition will feature one of Jesse Owen’s Olympic medals, Yogi Berra’s crown, Super Bowl rings, and more.
Events & AwardsMay 05, 2026
JIS Launches Brand Exposure ProgramThe new program provides access to media exposure and editorial opportunities for exhibitors and retailers.
CollectionsMay 04, 2026
Melanie Georgacopoulos Turns Pearls Into Light for ‘Eclipse’ CollectionThe “Eclipse” jewelry collection captures the fleeting moment where light and shadow align though onyx, diamonds, and freshwater pearls.
ColumnistsMay 04, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
CrimeMay 04, 2026
Pawn Shop Manager Shot, Killed in FloridaLazaro Rodriguez Vega was murdered inside Cash Out Gold and Silver in Fort Pierce. A 20-year-old man has been charged in the case.
IndependentsMay 04, 2026
Zadok Jewelers, Austin Parks Foundation Support Wildflower PreservationA portion of every engagement ring sold in its Austin showroom will support the care and preservation of Austin’s wildflowers and green spaces.
TechnologyMay 01, 2026
Gemist, Saban Onyx Partner on Retailer-Focused Customization OfferingTheir partnership combines Gemist’s customization technology with Saban Onyx’s U.S.-based manufacturing capabilities.
SurveysMay 01, 2026
Consumer Confidence Inches Up in April Despite Rising Gas PricesRespondents were concerned about the Middle East conflict and how it will impact their finances.
CollectionsMay 01, 2026
A ‘Hidden Garden’ Emerges in Tiffany & Co.’s 2026 Blue BookOur Piece of the Week, the “Butterfly” necklace, showcases a 7.02-carat oval diamond set between diamond, platinum, and 18-karat gold wings.
ColumnistsApr 30, 2026
Peter Smith: A Sleazy Salesman and the Case for Regret Avoidance Smith uses a comment he overheard in the grocery store to remind retailers that their job is to inspire buying behavior, not just sell.
MajorsApr 30, 2026
Claire’s New Summer Campaign Is a Sensory Wonderland for Gen Alpha“A Girl SMR at Claire’s” celebrates girlhood through the five senses with stacked jewelry, slime toys, scented accessories, and ASMR.
AuctionsApr 30, 2026
Vintage Cartier Watch Crashes Through Records, Selling for $2MBelieved to be one of three made in 1987, the Cartier London Crash was hot at the “Shapes of Cartier” sale at Sotheby’s Hong Kong.
