Black Rock Coffee Bar (BRCB) financial statements
Black Rock Coffee Bar reported revenue of $200M in fiscal 2025, up 22.7% a year over 2 years.
Net income was -$60,000 and the operating margin 0.4%, against 1.5% in 2023.
Free cash flow was -$33M.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Black Rock Coffee Bar's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | $133M | $161M | $200M |
| Cost of revenue | $100M | $116M | $142M |
| Gross profit | $33M | $45M | $59M |
| Selling, general and admin | $20M | $25M | $41M |
| Operating income | $2M | $6M | $901,000 |
| Pre-tax income | -$8M | -$7M | -$16M |
| Income tax | $357,000 | $270,000 | $475,000 |
| Net income | -$9M | -$7M | -$60,000 |
| EPS (diluted) | — | — | $0.00 |
| Diluted shares | — | — | 17M |
| Gross margin | 24.7% | 28.0% | 29.3% |
| Operating margin | 1.5% | 3.7% | 0.4% |
| Net margin | -6.6% | -4.5% | -0.0% |
Balance sheet
Fiscal years, from Black Rock Coffee Bar's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cash and short-term investments | $17M | $10M | $28M |
| Receivables | — | $4M | $3M |
| Inventory | — | $2M | $3M |
| Total current assets | — | $19M | $40M |
| Property, plant and equipment | — | $70M | $101M |
| Goodwill | — | $9M | $9M |
| Total assets | — | $213M | $336M |
| Total current liabilities | — | $33M | $39M |
| Long-term debt | — | $89M | $26M |
| Total liabilities | — | $230M | $232M |
| Shareholders' equity | — | -$258M | $46M |
| Net debt | -$17M | $80M | -$2M |
Cash flow
Fiscal years, from Black Rock Coffee Bar's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating cash flow | $5M | $13M | $2M |
| Capital spending | $16M | $22M | $35M |
| Free cash flow | -$11M | -$9M | -$33M |
| Stock-based compensation | $0 | $0 | $2M |
| Net borrowing | -$800,000 | $12M | -$69M |
| Free cash flow margin | -8.3% | -5.5% | -16.3% |
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Open BRCB in InvestinglyQuestions
What was Black Rock Coffee Bar's revenue in 2025?
$200M in fiscal 2025, from its 10-K filing.
How much free cash flow does Black Rock Coffee Bar generate?
-$33M in fiscal 2025 (operating cash flow minus capital spending).
From Black Rock Coffee Bar's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.