Brilliant Earth’s Third-Quarter Sales Rise 10%

By Rob Bates | November 07, 2025

Brilliant Earth’s sales jumped 10% year-over-year in the third quarter, to $110.3 million, even as the company reported a $0.7 million loss for the period.

The San Francisco–based e-tailer’s gross profit for the quarter ended Sept. 30 was $63.5 million, and it delivered $3.6 million in adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization).

Yet even as total orders rose 16.8%, to 49,910, the average order value (AOV) declined again, by 5.5%, to $2,209.

Analyst Paul Zimnisky tells JCK that Brilliant Earth’s “average order values have now fallen for 16 consecutive quarters on a year-over-year basis.… Management contends that this is a result of selling more non-bridal jewelry as well as more lower-ticket wedding bands.

“As the company has traditionally focused on loose diamonds and engagement rings, it’s reasonable to assume that at least some of the AOV drop is the result of falling lab-grown diamond prices,” Zimnisky says—though Brilliant Earth has not acknowledged that.

On Brilliant Earth’s earnings call following release of the Q3 results, CEO Beth Gerstein said the brand—which just celebrated its 20th anniversary—is outperforming the rest of the jewelry market, and has been able to maintain margins in the face of “headwinds” like the high gold price and tariffs.

She added that Brilliant Earth sees a tremendous opportunity in the fine jewelry space—where it had 45% year-over-year “bookings growth” in the third quarter.

During the call, executives repeatedly referred to sales as “bookings,” in what seems like a new quirk—one Zimnisky took notice of.

“It’s a term typically used by technology, and more specifically software-as-a-service, companies,” he says. “They are San Francisco–based, and it seems like they want to associate with the tech business culture. But in my opinion, it’s kind of confusing for a jewelry retailer to use it.”

(Photo courtesy of Brilliant Earth)