BRCC

MKT CAP:$366M

BRC Inc.

Market Cap

$366M

Consumer Defensive·Packaged Foods·🇺🇸 United States·NYSE

Consumer Def.·Packaged Foods·🇺🇸·NYSE

Stock Price

$1.02-$0.10 (-8.93%)

Apr 22, 2026

Company Details

BRC Inc., through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel. The company also produces media content; podcasts; and digital and print journals, as well as sells coffee brewing equipment, ...

CEO

Christopher Mondzelewski

IPO Date

Feb 10, 2022

Website

www.blackriflecoffee.com

Key Metrics TTM

Revenue

$389M

-4.6% YoY

Net Income

-$11M

EPS (Diluted)

-$0.14

Free Cash Flow

-$9M

Revenue / Share

$4.91

Gross Margin

37.6%

Operating Margin

-4.9%

Net Margin

-2.9%

FCF Margin

-2.4%

P/S

0.9x

P/E

—

Earnings Reports

Q3 2025

May 4, 2026

PENDING

Q2 2025

Aug 4, 2025

$95M+6.5%EPS -$0.07

Q1 2025

May 5, 2025

$90M-8.6%EPS -$0.04

Q4 2024

Mar 3, 2025

$106M-11.5%EPS -$0.03

Q3 2024

Nov 4, 2024

$98M-2.3%EPS -$0.01

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$52M	$21M	-$5M
Q3 21	$60M	$24M	-$3M
Q4 21	$72M	$25M	-$4M
Q1 22	$66M	$23M	-$16M
Q2 22	$66M	$23M	-$17M
Q3 22	$75M	$24M	-$16M
Q4 22	$94M	$29M	-$19M
Q2 23	$92M	$32M	-$14M
Q3 23	$101M	$34M	-$7M
Q4 23	$120M	$32M	-$12M
Q1 24	$98M	$42M	$4M
Q2 24	$89M	$37M	$978.0K
Q3 24	$98M	$41M	$1M
Q4 24	$106M	$40M	-$2M
Q1 25	$90M	$32M	-$5M
Q2 25	$95M	$32M	-$13M

Valuation

Quarter	P/S	P/E
Q2 21	1.8x	—
Q3 21	1.7x	—
Q4 21	1.6x	—
Q1 22	1.5x	—
Q2 22	1.4x	—
Q3 22	1.3x	—
Q4 22	1.2x	—
Q2 23	1.1x	—
Q3 23	1.0x	—
Q4 23	0.9x	—
Q1 24	0.9x	—
Q2 24	0.9x	—
Q3 24	0.9x	—
Q4 24	0.9x	—
Q1 25	1.0x	—
Q2 25	0.9x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	-$287.0K	-$5M
Q3 21	-$5M	-$9M
Q4 21	$3M	-$5M
Q1 22	-$33M	-$37M
Q2 22	-$22M	-$27M
Q3 22	-$24M	-$35M
Q4 22	-$37M	-$48M
Q2 23	-$25M	-$30M
Q3 23	-$7M	-$9M
Q4 23	$22M	$7M
Q1 24	$5M	$2M
Q2 24	$2M	$147.0K
Q3 24	$2M	-$205.0K
Q4 24	$2M	$504.0K
Q1 25	-$4M	-$5M
Q2 25	-$3M	-$4M

Capital Expenditures

Quarter	CapEx
Q2 21	$5M
Q3 21	$5M
Q4 21	$8M
Q1 22	$4M
Q2 22	$5M
Q3 22	$11M
Q4 22	$10M
Q2 23	$5M
Q3 23	$2M
Q4 23	$15M
Q1 24	$3M
Q2 24	$2M
Q3 24	$2M
Q4 24	$2M
Q1 25	$1M
Q2 25	$974.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	+65.9%	+91.6%
Q3 21	+47.0%	+58.5%
Q4 21	+19.9%	+29.7%
Q1 22	+34.9%	+69.0%
Q2 22	+26.8%	+45.5%
Q3 22	+25.6%	+44.0%
Q4 22	+30.3%	+49.0%
Q2 23	+39.7%	+29.3%
Q3 23	+51.5%	+29.2%
Q4 23	+58.5%	+44.7%
Q1 24	+5.1%	-16.5%
Q2 24	-3.2%	-16.6%
Q3 24	-2.3%	-9.7%
Q4 24	-11.5%	-18.0%
Q1 25	-8.6%	+1.0%
Q2 25	+6.5%	+22.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$2M	3.8%
Q3 21	$357.0K	0.6%
Q4 21	$557.0K	0.8%
Q1 22	$0	0.0%
Q2 22	$3M	4.2%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$3M	2.6%
Q1 25	$0	0.0%
Q2 25	$3M	2.9%

OpEx Breakdown

Quarter	G&A	S&M
Q2 21	$17M	$9M
Q3 21	$17M	$10M
Q4 21	$18M	$11M
Q1 22	$31M	$8M
Q2 22	$30M	$9M
Q3 22	$32M	$7M
Q4 22	$35M	$14M
Q2 23	$38M	$7M
Q3 23	$33M	$8M
Q4 23	$34M	$8M
Q1 24	$31M	$8M
Q2 24	$29M	$7M
Q3 24	$29M	$10M
Q4 24	$25M	$11M
Q1 25	$25M	$11M
Q2 25	$30M	$10M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$110M	$0	$110M
Q2 22	$93M	$0	$93M
Q3 22	$71M	$0	$71M
Q4 22	$39M	$0	$39M
Q1 23	$26M	$0	$26M
Q2 23	$20M	$0	$20M
Q3 23	$7M	$0	$7M
Q4 23	$12M	$0	$12M
Q1 24	$4M	$0	$4M
Q2 24	$10M	$0	$10M
Q3 24	$7M	$0	$7M
Q4 24	$7M	$0	$7M
Q1 25	$4M	$0	$4M
Q2 25	$4M	$0	$4M
Q3 25	$9M	$0	$9M
Q4 25	$4M	$0	$4M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	44M	0.0%	-35.7%
Q3 21	44M	0.0%	-52.7%
Q4 21	44M	0.0%	-1.6%
Q1 22	44M	+0.6%	+0.6%
Q2 22	50M	+12.5%	+13.1%
Q3 22	53M	+6.5%	+20.5%
Q4 22	55M	+3.4%	+24.6%
Q2 23	59M	+7.2%	+32.7%
Q3 23	62M	+5.5%	+24.5%
Q4 23	61M	-0.8%	+15.9%
Q1 24	67M	+8.4%	+21.5%
Q2 24	68M	+2.4%	+16.1%
Q3 24	72M	+5.8%	+16.4%
Q4 24	78M	+7.6%	+26.4%
Q1 25	78M	+1.0%	+17.7%
Q2 25	79M	+0.9%	+16.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	—	—
Q3 21	—	—
Q4 21	$85.9K	836
Q1 22	$78.8K	836
Q2 22	$79.4K	836
Q3 22	$90.3K	836
Q4 22	$102.0K	918
Q2 23	$100.2K	918
Q3 23	$109.5K	918
Q4 23	$189.9K	630
Q1 24	$156.2K	630
Q2 24	$141.3K	630
Q3 24	$155.9K	630
Q4 24	$192.2K	551
Q1 25	$163.3K	551
Q2 25	$172.1K	551

Revenue / Employee