BRC Inc
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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FY2024 · Filed Mar 3, 2025
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Consolidated Statements of Operations
BRC INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share amounts)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Revenue, net | $391,490 | $395,623 | $301,313 |
| Cost of goods sold | 230,316 | 270,175 | 202,134 |
| Gross profit | 161,174 | 125,448 | 99,179 |
| Operating expenses | |||
| Marketing and advertising | 35,631 | 30,794 | 38,169 |
| Salaries, wages and benefits | 62,415 | 71,054 | 64,286 |
| General and administrative | 50,827 | 71,613 | 64,486 |
| Other operating expense, net | 8,453 | 2,198 | — |
| Total operating expenses | 157,326 | 175,659 | 166,941 |
| Operating income (loss) | 3,848 | (50,211) | (67,762) |
| Non-operating income (expenses) | |||
| Interest expense, net | (11,325) | (6,330) | (1,593) |
| Other income, net | — | 10 | 339 |
| Change in fair value of earn-out liability | — | — | (209,651) |
| Change in fair value of warrant liability | — | — | (56,675) |
| Change in fair value of derivative liability | — | — | (2,335) |
| Total non-operating expenses | (11,325) | (6,320) | (269,915) |
| Loss before income taxes | (7,477) | (56,531) | (337,677) |
| Income tax expense | 172 | 185 | 367 |
| Net loss | $(7,649) | $(56,716) | $(338,044) |
| Less: Net loss attributable to non-controlling interest | (4,697) | (39,971) | (255,138) |
| Net loss attributable to BRC Inc. | $(2,952) | $(16,745) | $(82,906) |
| Net loss per share attributable to Class A Common Stock(1) | |||
| Basic and diluted | $(0.04) | $(0.27) | $(1.62) |
| Weighted-average shares of Class A Common Stock outstanding(1) | |||
| Basic and diluted | 71,107,562 | 60,932,225 | 51,246,632 |
(1)For the year ended December 31, 2022, net loss per share of Class A Common Stock and weighted-average shares of Class A Common Stock outstanding is representative of the period from February 9, 2022 through December 31, 2022, the period following the Business Combination, as defined in Note 1 -Organization and Nature of Business. For more information, refer to Note 17 -Net Loss per Share.
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