Brilliant Earth Lowers 2026 Sales Outlook, Holds EBITDA Forecast

Brilliant Earth lowered its fiscal 2026 net sales growth forecast while maintaining its adjusted EBITDA range, signaling a weaker revenue outlook even as its latest quarter showed higher sales and adjusted earnings.

The fine jewelry seller now expects fiscal 2026 net sales growth of 2.75% to 4% year over year. It kept its adjusted EBITDA forecast at $13 million to $15 million. The updated outlook uses tariff and metal price assumptions as of Nov. 3.

In August, Brilliant Earth forecast fiscal 2026 net sales of $459 million to $462 million, alongside the same adjusted EBITDA range. The company reported $437.5 million in net sales for fiscal 2025.

For the quarter ended Sept. 30, net sales rose 2.3% year over year to $112.8 million, from $110.3 million. Adjusted EBITDA increased 43.7% to $5.1 million, compared with $3.6 million a year earlier.

“We're pleased with our third quarter results, with both Net Sales and Adjusted EBITDA exceeding our guidance,” co-founder and CEO Beth Gerstein said.

For the first nine months of fiscal 2026, net sales increased 4.6% to $327.4 million. Adjusted EBITDA fell 20.9% to $6.2 million over the same period. The quarterly increase in adjusted EBITDA contrasted with the decline across the nine-month period.

Brilliant Earth trades on Nasdaq under the ticker BRLT. Adjusted EBITDA is a non-GAAP measure that excludes interest, taxes, depreciation, equity-based compensation, and certain other expenses and income. The company issued the revised outlook with its third-quarter results on Nov. 5.