EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2025

Basic earnings per share is computed by dividing net (loss) income applicable to Brilliant Earth Group, Inc. by the weighted average shares of Class A common stock outstanding (and Class D common stock, if outstanding) during the period. Diluted earnings per share is computed by adjusting the net (loss) income available to Brilliant Earth Group, Inc. and the weighted average shares outstanding to give effect to potentially dilutive securities. Shares of Class B and Class C common stock are not entitled to receive any distributions or dividends and are therefore excluded from this presentation since they are not participating securities.

Basic and diluted earnings per share of Class A common stock have been computed as follows (in thousands, except share and per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
Numerator:	2025		2024		2025		2024
Net (loss) income attributable to Brilliant Earth Group, Inc., BASIC	$	(166)	$	185	$	(632)	$	324
Add: Net (loss) income impact from assumed redemption of all LLC Units to common stock	(947)		1,190		(3,748)		2,118
Add (less): Income tax benefit (expense) on net (loss) income attributable to NCI	241		(304)		953		(541)
Net (loss) income attributable to Brilliant Earth Group, Inc., after adjustment for assumed conversion, DILUTED	$	(872)	$	1,071	$	(3,427)	$	1,901

Denominator:
Weighted average shares of common stock outstanding, BASIC	14,552,477		13,182,880		14,333,268		12,959,447
Dilutive effects of:
Vested LLC Units that are exchangeable for common stock	—		84,883,812		—		84,852,406
Unvested LLC Units that are exchangeable for common stock	—		45,760		—		72,072
RSUs	—		116,402		—		152,991
Weighted average shares of common stock outstanding, DILUTED	14,552,477		98,228,854		14,333,268		98,036,916

BASIC earnings per share	$	(0.01)	$	0.01	$	(0.04)	$	0.03
DILUTED earnings per share	$	(0.01)	$	0.01	$	(0.04)	$	0.02

Net (loss) income attributable to the non-controlling interest is added back to net (loss) income in the fully dilutive computation and has been adjusted for income taxes which would have been benefited (expensed) had the (loss) income been recognized by Brilliant Earth Group, Inc., a taxable entity. The weighted average common shares outstanding in the diluted computation per share assumes all

outstanding LLC Units are converted and the Company will elect to issue shares of common stock upon redemption rather than cash-settle.

For the three and six months ended June 30, 2025 and 2024, the dilutive impact of LLC Units convertible into common stock were included in the computation of diluted earnings per share under the if-converted method, except when the effect would be anti-dilutive. The dilutive impact of unvested LLC Units and RSUs were included using the treasury stock method, except when the effect would be anti-dilutive.

The following table presents the securities for the three and six months ended June 30, 2025 and 2024, that have been excluded from the computations of earnings per share because such impact would have been anti-dilutive:


	Three Months Ended June 30,		Six Months Ended June 30,
	2025	2024	2025	2024
Vested LLC Units	84,961,455	—	84,954,564	—
RSUs	4,328,224	3,835,655	3,959,902	2,894,685
Stock options	665,905	739,450	665,905	744,935
Unvested LLC Units	1,595	14,876	9,547	16,583

Brilliant Earth Group, Inc. 10-Q