BRC (BRCC) financial statements
BRC reported revenue of $398M in fiscal 2025, up 30.1% a year over 6 years.
Net income was -$12M and the operating margin -6.2%, against -0.1% in 2019.
Free cash flow was -$13M.
The diluted share count rose 86% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from BRC's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $82M | $164M | $233M | $301M | $396M | $391M | $398M |
| Cost of revenue | $46M | $94M | $143M | $202M | $270M | $230M | $260M |
| Gross profit | $36M | $69M | $90M | $99M | $125M | $161M | $138M |
| Selling, general and admin | — | $14M | $26M | $64M | $72M | $51M | $55M |
| Operating income | -$116,000 | $6M | -$12M | -$68M | -$50M | $4M | -$25M |
| Interest expense | $733,000 | $1M | $2M | $2M | $6M | $11M | $8M |
| Pre-tax income | -$758,000 | $5M | -$14M | -$338M | -$57M | -$7M | -$32M |
| Income tax | $14,000 | $185,000 | $178,000 | $367,000 | $185,000 | $172,000 | $132,000 |
| Net income | -$772,000 | $4M | -$14M | -$83M | -$17M | -$3M | -$12M |
| EPS (diluted) | — | — | — | -$1.62 | -$0.27 | -$0.04 | -$0.13 |
| Diluted shares | — | — | — | 51M | 61M | 71M | 95M |
| Gross margin | 43.5% | 42.3% | 38.5% | 32.9% | 31.7% | 41.2% | 34.6% |
| Operating margin | -0.1% | 3.5% | -5.0% | -22.5% | -12.7% | 1.0% | -6.2% |
| Net margin | -0.9% | 2.6% | -5.9% | -27.5% | -4.2% | -0.8% | -3.0% |
Balance sheet
Fiscal years, from BRC's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | — | $35M | $18M | $39M | $12M | $7M | $4M |
| Receivables | — | $4M | $7M | $22M | $25M | $34M | $35M |
| Inventory | — | $16M | $21M | $77M | $56M | $43M | $50M |
| Total current assets | — | $57M | $53M | $145M | $108M | $95M | $100M |
| Property, plant and equipment | — | $15M | $31M | $59M | $68M | $59M | $43M |
| Total assets | — | $73M | $87M | $225M | $236M | $227M | $209M |
| Total current liabilities | — | $34M | $59M | $62M | $84M | $75M | $76M |
| Long-term debt | — | $12M | $23M | $47M | $69M | $63M | $32M |
| Total liabilities | — | $46M | $82M | $129M | $189M | $178M | $141M |
| Shareholders' equity | -$1M | -$103M | -$149M | $26M | $13M | $13M | $46M |
| Net debt | — | -$22M | $16M | $10M | $59M | $58M | $30M |
Cash flow
Fiscal years, from BRC's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $4M | $12M | -$8M | -$116M | -$25M | $11M | -$10M |
| Capital spending | $1M | $10M | $19M | $30M | $27M | $9M | $4M |
| Free cash flow | $3M | $2M | -$27M | -$147M | -$52M | $3M | -$13M |
| Stock-based compensation | $143,000 | $2M | $3M | $6M | $7M | $11M | $10M |
| Dividends paid | — | $0 | $7M | $0 | $0 | — | — |
| Share buybacks (net) | — | $0 | $0 | -$20M | $0 | $0 | — |
| Net borrowing | -$2M | $9M | $19M | $13M | $26M | -$8M | -$31M |
| Free cash flow margin | 3.8% | 1.1% | -11.6% | -48.7% | -13.2% | 0.7% | -3.4% |
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Open BRCC in InvestinglyQuestions
What was BRC's revenue in 2025?
$398M in fiscal 2025, from its 10-K filing.
How much free cash flow does BRC generate?
-$13M in fiscal 2025 (operating cash flow minus capital spending).
From BRC's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.