7Baggers

Brilliant Earth Group
(NASDAQ:BRLT) 

BRLT stock logo

Brilliant Earth Group, Inc., together with its subsidiaries, engages in the design, procurement, and retail sale of diamonds, gemstones, and jewelry in the United States and internationally. Its product assortment and merchandise include a collection of diamond engagement rings, wedding and annivers...

Founded: 2005
IPO Price: $12 (Sep 23, 2021)
Sector: Consumer Cyclical
Industry: Luxury Goods
Luxury Goods
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• Market Cap:
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At a glance:
Bull Thesis:
Bear Thesis:
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Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 
                       
      net sales
    		99,504,000 124,411,000 110,252,000 108,936,000 93,884,000 119,525,000 99,873,000 105,426,000 97,337,000 124,346,000 114,154,000 110,184,000 97,698,000 119,630,000 111,405,000 108,809,000 100,038,000 121,906,000 95,239,000 
      yoy
    		5.99% 4.09% 10.39% 3.33% -3.55% -3.88% -12.51% -4.32% -0.37% 3.94% 2.47% 1.26% -2.34% -1.87% 16.97%     
      qoq
    		-20.02% 12.84% 1.21% 16.03% -21.45% 19.68% -5.27% 8.31% -21.72% 8.93% 3.60% 12.78% -18.33% 7.38% 2.39% 8.77% -17.94% 28.00%  
      cost of sales
    		45,436,000 54,904,000 46,801,000 45,432,000 38,842,000 48,276,000 39,103,000 41,349,000 39,031,000 51,338,000 47,327,000 46,695,000 44,022,000 54,194,000 50,487,000 50,988,000 49,922,000 59,620,000 47,224,000 
      gross profit
    		54,068,000 69,507,000 63,451,000 63,504,000 55,042,000 71,249,000 60,770,000 64,077,000 58,306,000 73,008,000 66,827,000 63,489,000 53,676,000 65,436,000 60,918,000 57,821,000 50,116,000 62,286,000 48,015,000 
      yoy
    		-1.77% -2.44% 4.41% -0.89% -5.60% -2.41% -9.06% 0.93% 8.63% 11.57% 9.70% 9.80% 7.10% 5.06% 26.87%     
      qoq
    		-22.21% 9.54% -0.08% 15.37% -22.75% 17.24% -5.16% 9.90% -20.14% 9.25% 5.26% 18.28% -17.97% 7.42% 5.36% 15.37% -19.54% 29.72%  
      gross margin %
    		54.34% 55.87% 57.55% 58.29% 58.63% 59.61% 60.85% 60.78% 59.90% 58.71% 58.54% 57.62% 54.94% 54.70% 54.68% 53.14% 50.10% 51.09% 50.42% 
      operating expenses:
    		                   
      marketing and advertising
    		23,522,000 30,600,000 26,132,000 26,271,000 22,962,000               
      general and administrative
    		39,427,000 38,927,000 37,939,000 38,446,000 35,603,000               
      total operating expenses
    		62,949,000 69,527,000 64,071,000 64,717,000 58,565,000               
      income from operations
    		-8,881,000 -20,000 -620,000 -1,213,000 -3,523,000 2,410,000 -1,069,000 1,132,000 877,000 1,198,000 2,014,000 1,360,000 -90,000 6,048,000 6,303,000 5,676,000 5,300,000 12,956,000 9,868,000 
      yoy
    		152.09% -100.83% -42.00% -207.16% -501.71% 101.17% -153.08% -16.76% -1074.44% -80.19% -68.05% -76.04% -101.70% -53.32% -36.13%     
      qoq
    		44305.00% -96.77% -48.89% -65.57% -246.18% -325.44% -194.43% 29.08% -26.79% -40.52% 48.09% -1611.11% -101.49% -4.05% 11.05% 7.09% -59.09% 31.29%  
      operating margin %
    		-8.93% -0.02% -0.56% -1.11% -3.75% 2.02% -1.07% 1.07% 0.90% 0.96% 1.76% 1.23% -0.09% 5.06% 5.66% 5.22% 5.30% 10.63% 10.36% 
      interest expense
    		  -272,000 -895,000 -1,115,000 -1,204,000 -1,320,000 -1,293,000 -1,214,000 -1,320,000 -1,322,000 -1,280,000 -1,206,000 -958,000 -778,000 -1,146,000 -1,776,000 -1,803,000 -1,912,000 
      other income
    		428,000 453,000 837,000 1,138,000 1,240,000 1,359,000 1,525,000 1,474,000 1,477,000 1,513,000 1,401,000 1,192,000 843,000 539,000 374,000     
      income before income taxes
    		-8,453,000                   
      income tax benefit
    		   -143,000 131,000   62,000 -73,000    13,000       
      net income
    		-8,453,000 -1,348,000 -672,000 -1,113,000 -3,267,000 2,627,000 -1,075,000 1,375,000 1,067,000 1,941,000 1,998,000 1,235,000 -440,000 6,186,000 5,719,000 3,751,000 3,369,000 11,409,000 3,962,000 
      yoy
    		158.74% -151.31% -37.49% -180.95% -406.19% 35.34% -153.80% 11.34% -342.50% -68.62% -65.06% -67.08% -113.06% -45.78% 44.35%     
      qoq
    		527.08% 100.60% -39.62% -65.93% -224.36% -344.37% -178.18% 28.87% -45.03% -2.85% 61.78% -380.68% -107.11% 8.17% 52.47% 11.34% -70.47% 187.96%  
      net income margin %
    		-8.50% -1.08% -0.61% -1.02% -3.48% 2.20% -1.08% 1.30% 1.10% 1.56% 1.75% 1.12% -0.45% 5.17% 5.13% 3.45% 3.37% 9.36% 4.16% 
      net loss allocable to non-controlling interest
    		-6,942,000                   
      net loss allocable to brilliant earth group, inc.
    		-1,511,000                   
      earnings per share:
    		                   
      basic
    		-0.1 -0.2 -0.01 -0.01 -0.03 0.03 -0.01 0.01 0.01 0.02 0.02 0.01  0.07 0.06 0.04 0.04  0.01 
      diluted
    		-0.1 -0.2 -0.01 -0.01 -0.03 0.02 -0.01 0.01 0.01 0.02 0.02 0.01  0.05 0.05 0.03 0.03  0.01 
      weighted-average shares of common stock outstanding:
    		                   
      basic
    		15,811,843 14,752,634 14,993,768 14,552,477 14,111,624 13,304,227 13,545,256 13,182,880 12,736,014 11,928,308 12,149,770 11,796,639 11,387,936 10,687,732 10,884,306 10,810,627 10,010,798 9,590,443 9,583,332 
      diluted
    		15,811,843 14,752,634 14,993,768 14,552,477 14,111,624 98,352,924 13,545,256 98,228,854 97,850,288 97,055,216 97,194,920 96,889,854 11,387,936 96,505,325 96,574,462 96,208,702 96,526,843 96,741,421 96,621,427 
      loss on extinguishment of debt
    		  -573,000             -617,000    
      income before tax
    		 -1,249,000 -628,000 -970,000 -3,398,000 397,250 -864,000 1,313,000 1,140,000 1,391,000 2,093,000 1,272,000 -453,000 5,629,000 5,899,000 3,864,000 3,465,000 11,070,000 3,985,000 
      income tax expense
    		 -9,585,000 -44,000   -55,500 -211,000   -29,750 -95,000 -37,000  -97,250 -180,000 -113,000 -96,000 -5,750 -23,000 
      net income allocable to non-controlling interest
    		 1,548,000 -565,000 -947,000 -2,801,000 2,269,000 -934,000 1,190,000 928,000 1,698,000 1,753,000 1,087,000 -388,000 5,477,000 5,073,000 3,327,000 3,013,000 9,947,000 3,896,000 
      net income allocable to brilliant earth group, inc.
    		 -2,896,000 -107,000 -166,000 -466,000 358,000 -141,000 185,000 139,000 243,000 245,000 148,000 -52,000 709,000 646,000 424,000 356,000 1,462,000 66,000 
      selling, general and administrative
    		     45,553,250 61,839,000 62,945,000 57,429,000 71,810,000 64,813,000 62,129,000 53,766,000 59,388,000 54,615,000 52,145,000 44,816,000 49,330,000 38,147,000 
      other expense
    		               -49,000 -59,000 -83,000 -3,971,000 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 
                         
        assets
      		                   
        current assets:
      		                   
        cash and cash equivalents
      		58,564,000 79,089,000 73,429,000 133,615,000 147,338,000 161,925,000 152,653,000 152,209,000 147,454,000 155,809,000 147,131,000 149,605,000 145,972,000 154,649,000 152,931,000 155,533,000 164,890,000 172,865,000 161,087,000 
        restricted cash
      		127,000 349,000 347,000 219,000 217,000 216,000 215,000 214,000 213,000 211,000 209,000 207,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 
        inventories
      		54,423,000 53,238,000 49,132,000 47,348,000 39,848,000 38,292,000 38,530,000 38,285,000 38,905,000 37,788,000 37,256,000 39,413,000 37,864,000 39,331,000 40,334,000 35,344,000 28,392,000 24,743,000 20,057,000 
        prepaid expenses and other current assets
      		14,306,000 12,052,000 12,743,000 10,045,000 10,553,000 10,980,000 11,346,000 10,812,000 11,183,000 11,048,000 11,271,000 10,938,000 11,541,000 11,764,000 9,779,000 9,759,000 8,560,000 8,178,000 7,682,000 
        total current assets
      		127,420,000 144,728,000 135,651,000 191,227,000 197,956,000 211,413,000 202,744,000 201,520,000 197,755,000 204,856,000 195,867,000 200,163,000 195,582,000 205,949,000 203,249,000 200,841,000 202,047,000 205,991,000 189,031,000 
        property and equipment
      		18,691,000 19,622,000 19,942,000 20,532,000 21,293,000 21,626,000 21,768,000 20,947,000 21,679,000 22,047,000 22,402,000 22,200,000 20,252,000 16,554,000 14,563,000 11,272,000 8,734,000 6,732,000 5,983,000 
        operating lease right of use assets
      		32,317,000 31,879,000 33,845,000 35,508,000 37,127,000 35,222,000 36,026,000 37,461,000 36,258,000 34,248,000 35,459,000 38,333,000 33,707,000 27,812,000 22,864,000 21,427,000 20,067,000   
        other assets
      		5,004,000 4,674,000 3,947,000 3,983,000 3,506,000 3,348,000 3,373,000 3,215,000 3,012,000 2,687,000 2,693,000 3,266,000 3,423,000 3,311,000 3,077,000 1,729,000 943,000 601,000 552,000 
        total assets
      		183,432,000 200,903,000 202,966,000 260,875,000 269,650,000 281,245,000 273,246,000 272,503,000 268,199,000 273,583,000 265,693,000 273,329,000 262,300,000 262,574,000 252,389,000 243,567,000 239,631,000 217,731,000 199,941,000 
        liabilities and stockholders' equity
      		                   
        current liabilities:
      		                   
        accounts payable
      		21,853,000 24,804,000 20,851,000 20,754,000 13,378,000 15,733,000 2,199,000 2,352,000 2,473,000 4,511,000 4,108,000 9,496,000 8,099,000 11,032,000 10,431,000 10,555,000 11,390,000 14,480,000 11,472,000 
        accrued expenses and other current liabilities
      		27,024,000 35,732,000 29,293,000 28,920,000 23,940,000 31,714,000 36,252,000 35,686,000 33,599,000 43,824,000 35,073,000 34,163,000 30,053,000 37,833,000 37,897,000 35,455,000 26,429,000 28,756,000 24,758,000 
        deferred revenue
      		24,695,000 22,671,000 25,676,000 24,123,000 23,099,000 18,926,000 21,538,000 21,320,000 22,815,000 19,556,000          
        current portion of operating lease liabilities
      		6,907,000 6,896,000 7,100,000 6,965,000 6,742,000 6,108,000 5,930,000 5,713,000 5,372,000 4,993,000 4,866,000 4,983,000 5,315,000 3,873,000 3,321,000 3,025,000 2,779,000   
        total current liabilities
      		80,479,000 90,103,000 82,920,000 115,251,000 87,159,000 78,169,000 72,419,000 69,946,000 68,728,000 76,947,000 70,754,000 74,150,000 68,571,000 74,493,000 77,593,000 74,761,000 105,212,000 92,843,000 78,604,000 
        operating lease liabilities
      		31,606,000 31,163,000 33,255,000 35,205,000 37,260,000 35,856,000 37,056,000 38,615,000 37,262,000 35,572,000 37,066,000 39,712,000 33,750,000 28,537,000 23,166,000 21,399,000 19,882,000   
        total liabilities
      		112,085,000 121,266,000 123,912,000 158,193,000 166,678,000 171,863,000 168,891,000 169,554,000 168,341,000 176,127,000 172,248,000 179,695,000 168,874,000 169,433,000 167,797,000 163,813,000 157,589,000 134,893,000 129,954,000 
        commitments and contingencies
      		                   
        stockholders' equity
      		                   
        preferred stock, 0.0001 par value...
      		                   
        class a common stock, 0.0001 par value...
      		2,000  2,000 1,000 1,000  1,000 1,000 1,000  1,000 1,000 1,000  1,000     
        class b common stock, 0.0001 par value...
      		4,000  4,000 4,000 4,000  4,000 4,000 4,000  4,000 4,000 4,000  4,000     
        class c common stock, 0.0001 par value...
      		5,000  5,000 5,000 5,000  5,000 5,000 5,000  5,000 5,000 5,000  5,000     
        class d common stock, 0.0001 par value...
      		                   
        additional paid-in capital
      		16,639,000 16,024,000 12,806,000 12,113,000 11,397,000 11,169,000 10,467,000 9,744,000 8,978,000 8,275,000 7,791,000 7,882,000 7,615,000 7,256,000 6,731,000 6,749,000 7,339,000   
        treasury stock
      		-1,094,000 -1,094,000 -1,094,000 -998,000 -801,000 -638,000 -438,000 -259,000 -100,000           
        accumulated deficit
      		-4,151,000                   
        stockholders' equity attributable to brilliant earth group, inc.
      		11,405,000 12,301,000 11,979,000 15,281,000 14,928,000 15,329,000 14,469,000 14,066,000 13,274,000 12,532,000          
        non-controlling interests attributable to brilliant earth, llc
      		59,942,000 67,336,000 67,075,000 87,401,000 88,044,000 94,053,000 89,886,000 88,883,000 86,584,000 84,924,000          
        total stockholders' equity
      		71,347,000 79,637,000 79,054,000 102,682,000 102,972,000 109,382,000 104,355,000 102,949,000 99,858,000 97,456,000          
        total liabilities and stockholders' equity
      		183,432,000 200,903,000 202,966,000 260,875,000 269,650,000 281,245,000 273,246,000 272,503,000 268,199,000 273,583,000          
        deferred tax assets
      		  9,581,000 9,625,000 9,768,000 9,636,000 9,335,000 9,360,000 9,495,000 9,745,000 9,272,000 9,367,000 9,336,000 8,948,000 8,636,000 8,298,000 7,840,000 4,407,000  
        current portion of long-term debt
      		   34,489,000 20,000,000 5,688,000 6,500,000 4,875,000 4,469,000 4,063,000 3,656,000 3,250,000 3,250,000 3,250,000 3,250,000 3,250,000 41,053,000 30,789,000 20,526,000 
        long-term debt
      		    34,522,000 50,010,000 51,588,000 53,165,000 54,337,000 55,573,000 56,749,000 57,924,000 58,693,000 59,462,000 60,228,000 61,000,000 22,863,000 32,789,000 42,708,000 
        payable pursuant to the tax receivable agreement
      		  7,737,000 7,737,000 7,737,000 7,828,000 7,828,000 7,828,000 8,014,000 8,035,000 7,675,000 7,897,000 7,834,000 6,893,000 6,734,000 6,541,000 6,604,000 3,775,000 3,919,000 
        stockholders’ equity
      		                   
        preferred stock, 0.0001 par value per share...
      		                   
        class a common stock, 0.0001 par value per share...
      		 2,000                  
        class b common stock, 0.0001 par value per share...
      		 4,000                  
        class c common stock, 0.0001 par value per share...
      		 5,000                  
        class d common stock, 0.0001 par value per share...
      		                   
        retained earnings
      		 -2,640,000 256,000 4,156,000 4,322,000 4,788,000 4,430,000 4,571,000 4,386,000 4,247,000 4,004,000 3,759,000 3,611,000 3,663,000 2,954,000 2,308,000 1,884,000   
        class a common stock
      		     1,000    1,000    1,000  1,000 1,000 1,000  
        class b common stock
      		     4,000    4,000    4,000  4,000 4,000   
        class c common stock, 0.0001 par value - 150,000,000 shares authorized; 49,119,976 shares issued and outstanding at december 31, 2024 and 2023, respectively
      		     5,000              
        class d common stock, 0.0001 par value - 150,000,000 shares authorized; none issued and outstanding at december 31, 2024 and 2023, respectively
      		                   
        class c common stock, 0.0001 par value - 150,000,000 shares authorized; 49,119,976 shares issued and outstanding at december 31, 2023 and 2022, respectively
      		         5,000          
        class d common stock, 0.0001 par value - 150,000,000 shares authorized; none issued and outstanding at december 31, 2023 and 2022, respectively
      		                   
        liabilities and equity
      		                   
        current portion of deferred revenue
      		          23,051,000 22,258,000 21,854,000 18,505,000 22,694,000 22,476,000 23,561,000 18,818,000 21,848,000 
        other long-term liabilities
      		          4,000 12,000 26,000 48,000 76,000 112,000 3,028,000 2,979,000 2,701,000 
        equity
      		                   
        equity attributable to brilliant earth group, inc.
      		          11,805,000 11,651,000 11,236,000 10,929,000 9,695,000 9,067,000 9,233,000   
        nci attributable to brilliant earth, llc
      		          81,640,000 81,983,000 82,190,000 82,212,000 74,897,000 70,687,000 72,809,000   
        total equity
      		          93,445,000 93,634,000 93,426,000 93,141,000 84,592,000 79,754,000 82,042,000   
        total liabilities and equity
      		          265,693,000 273,329,000 262,300,000 262,574,000 252,389,000 243,567,000 239,631,000   
        deferred rent
      		                 2,507,000 1,818,000 
        class c common stock, 0.0001 par value - 150,000,000 shares authorized; 49,119,976 and 49,505,250 shares issued and outstanding at december 31, 2022 and 2021, respectively
      		             5,000      
        class d common stock, 0.0001 par value - 150,000,000 shares authorized; none issued and outstanding at december 31, 2022 and 2021, respectively
      		                   
        class c common stock, 0.0001 par value - 150,000,000 shares authorized; 49,119,976 and 49,505,250 shares issued and outstanding at june 30, 2022 and december 31, 2021, respectively
      		               5,000    
        class d common stock, 0.0001 par value - 150,000,000 shares authorized; none issued and outstanding at june 30, 2022 and december 31, 2021, respectively
      		                   
        class c common stock, 0.0001 par value - 150,000,000 shares authorized; 49,119,976 and 49,505,250 shares issued and outstanding at march 31, 2022 and december 31, 2021, respectively
      		                5,000   
        class d common stock, 0.0001 par value - 150,000,000 shares authorized; none issued and outstanding at march 31, 2022 and december 31, 2021, respectively
      		                   
        liabilities, redeemable convertible preferred units, and stockholders’ equity/members’
      		                   
        redeemable convertible preferred units (class p units) -33,162,444 units authorized, 32,435,595 units issued and outstanding at december 31, 2020
      		                   
        members’ deficit - class f units - 50,954,445 units authorized, 50,232,863 units issued and outstanding at december 31, 2020; and class m units - 4,638,881 units authorized, 2,537,791 units issued and outstanding at december 31, 2020
      		                   
        deferred tax asset
      		                  4,375,000 
        liabilities, redeemable convertible preferred units, and stockholders' equity/members' equity/
      		                   
        long-term deferred revenue
      		                  204,000 
        warrant liability
      		                   
        members' deficit - class f units - 50,954,445 units authorized, 50,232,863 units issued and outstanding at december 31, 2020; and class m units - 4,638,881 units authorized, 2,537,791 units issued and outstanding at december 31, 2020
      		                   
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 
                         
          operating activities
        		                 
          net loss
        		-8,453,000                 
          adjustments to reconcile net loss to net cash from operating activities:
        		                 
          depreciation
        		1,615,000 1,528,000 1,549,000 1,544,000 1,488,000 1,466,000 1,341,000 1,302,000 1,203,000 1,105,000 940,000 951,000 674,000   349,000  
          equity-based compensation
        		1,528,000 1,967,000 2,256,000 2,328,000 2,369,000 2,398,000 2,524,000 2,425,000 2,587,000 2,569,000 2,627,000 2,258,000 2,277,000 2,311,000 2,148,000 2,104,000  
          non-cash operating lease cost
        		1,754,000 1,678,000 1,638,000 1,613,000 1,561,000 1,734,000 1,128,000 1,412,000 1,281,000 1,119,000 1,283,000 1,085,000 957,000 810,000 779,000 683,000  
          amortization of debt issuance costs
        		 0 30,000 79,000 70,000 73,000 75,000 74,000 69,000 68,000 67,000 67,000 70,000 70,000 29,000 423,000 433,000 
          deferred tax benefit
        		          37,000 -14,000      
          other
        		63,000 24,000 74,000 32,000 117,000 331,000 70,000 -123,000 -65,000 -3,000 -8,000 74,000 160,000 76,000 -42,000 -14,000 15,000 
          changes in assets and liabilities:
        		                 
          inventories
        		-1,237,000 -4,129,000 -1,858,000 -7,532,000 -1,673,000 -101,000 -314,000 780,000 -1,051,000 2,163,000 -1,541,000 1,403,000 859,000 -5,066,000 -6,911,000 -3,633,000 -4,701,000 
          prepaid expenses and other current assets
        		-2,028,000 928,000 -2,935,000 508,000 661,000 366,000 -534,000 820,000 15,000 -333,000 1,363,000 778,000 117,000 -20,000 -1,199,000 -746,000 -6,142,000 
          other assets
        		-330,000 -965,000 25,000 -458,000 -184,000 -2,000 -184,000 -230,000 -312,000 549,000 133,000 -135,000 -258,000 -1,369,000 -323,000 -342,000 -49,000 
          accounts payable, accrued expenses and other current liabilities
        		-11,765,000 10,710,000 121,000 12,728,000 -10,649,000 9,857,000 -440,000 2,402,000 -12,544,000 -4,463,000 7,365,000 -10,456,000 914,000 1,116,000 6,946,000 -6,485,000  
          deferred revenue
        		2,024,000 -3,005,000 1,553,000 1,024,000 4,173,000 -2,612,000 218,000 -1,495,000 3,259,000 785,000 390,000 3,327,000 -4,217,000 182,000 -1,126,000 4,706,000 -3,044,000 
          operating lease liabilities
        		-1,963,000 -2,008,000 -1,790,000 -1,826,000 -1,662,000 -1,952,000 -1,035,000 -1,371,000 -1,372,000 -1,008,000 -1,039,000 -880,000 -2,084,000 -184,000 -376,000 -232,000  
          net cash from operating activities
        		-18,792,000 7,167,000 608,000 9,070,000 -7,127,000 14,091,000 1,985,000 7,309,000 -5,790,000 4,644,000 12,852,000 -1,982,000 5,487,000 4,146,000 4,691,000 182,000 12,257,000 
          capital expenditures
        		-415,000 -1,738,000 -263,000 -1,527,000 -299,000 -3,030,000 -457,000 -1,107,000 -289,000 1,006,000 -6,602,000 -4,169,000 -2,558,000 -1,204,000 -2,634,000 -215,000 -1,221,000 
          free cash flows
        		-19,207,000 5,429,000 345,000 7,543,000 -7,426,000 11,061,000 1,528,000 6,202,000 -6,079,000 5,650,000 6,250,000 -6,151,000 2,929,000 2,942,000 2,057,000 -33,000 11,036,000 
          investing activities
        		                 
          purchases of property and equipment
        		-555,000 -1,473,000 -611,000 -1,155,000 -727,000 -2,177,000 -1,311,000 -857,000 -562,000 -1,570,000 -4,745,000 -4,414,000 -2,558,000 -2,498,000 -2,785,000 -1,283,000 -1,221,000 
          net cash from investing activities
        		-555,000 -1,473,000 -611,000 -1,155,000 -727,000 -2,177,000 -1,311,000 -857,000 -562,000 -1,570,000 -4,745,000 -4,414,000 -2,558,000 -2,498,000 -2,785,000 -1,283,000 -1,221,000 
          financing activities
        		                 
          payments on svb term loan
        		 0 -34,843,000 -20,000,000 -1,220,000 -2,438,000 0 -812,000 -813,000  -812,000 -813,000 -812,000     
          repurchases of common stock
        		 0 -96,000 -197,000 -163,000 -200,000 -179,000 -159,000 -100,000         
          distributions and tra payments to members
        		-1,400,000                 
          net cash from financing activities
        		-1,400,000 -32,000 -60,055,000 -21,636,000 -6,732,000 -2,641,000 -229,000 -1,696,000 -2,001,000 -5,546,000 -4,472,000 -2,281,000 -1,211,000 -4,250,000 -11,263,000 -6,874,000 742,000 
          net decrease in cash, cash equivalents and restricted cash
        		-20,747,000  -60,058,000 -13,721,000 -14,586,000  445,000 4,756,000 -8,353,000 -2,472,000 3,635,000 -8,677,000      
          cash, cash equivalents and restricted cash at beginning of period
        		79,438,000  0 0 162,141,000  0 0 156,020,000 0 0 154,854,000 0 0 0 173,070,000 0 
          cash, cash equivalents and restricted cash at end of period
        		58,691,000  -60,058,000 -13,721,000 147,555,000  445,000 4,756,000 147,667,000 -2,472,000 3,635,000 146,177,000 1,718,000 -2,602,000 -9,357,000 165,095,000 11,778,000 
          reconciliation of cash, cash equivalents and restricted cash
        		                 
          cash and cash equivalents
        		58,564,000  -60,186,000 -13,723,000 147,338,000  444,000 4,755,000 147,454,000 -2,474,000 3,633,000 145,972,000      
          restricted cash
        		127,000  128,000 2,000 217,000  1,000 1,000 213,000 2,000 2,000 205,000      
          total cash, cash equivalents, and restricted cash
        		58,691,000  -60,058,000 -13,721,000 147,555,000  445,000 4,756,000 147,667,000 -2,472,000        
          non-cash investing and financing activities
        		                 
          right-of-use assets obtained in exchange for operating lease liabilities
        		2,418,000                 
          change in deferred tax assets associated with redemption of llc units
        		  0 0 -1,000  186,000 -197,000 -177,000         
          tra obligation associated with redemption of llc units
        		 9,000 0 0 2,000 406,000 0 -186,000 -13,000 22,000 63,000 439,000 39,000 208,000 544,000 2,829,000 -144,000 
          purchases of property and equipment included in accounts payable and accrued liabilities
        		140,000 -265,000 348,000 -372,000 428,000 -853,000 854,000 -250,000 273,000 2,576,000 -1,857,000 245,000  1,294,000 151,000 1,068,000  
          net income
        		 -1,348,000 -672,000 -1,113,000 -3,267,000 2,627,000 -1,075,000 1,375,000 1,067,000 1,998,000 1,235,000 -440,000 6,186,000 5,719,000 3,751,000 3,369,000 11,409,000 
          adjustments to reconcile net income to net cash from operating activities:
        		                 
          gain on tra liability remeasurement
        		                 
          loss on extinguishment of debt
        		            0 0    
          deferred tax expense
        		 9,591,000 44,000 143,000 -131,000 -94,000 211,000 -62,000 73,000         
          dividends, distributions and tra payments to members
        		                 
          payments of debt issuance costs
        		            -379,000 -115,000    
          dividends paid on class a common stock
        		 0                
          net increase in cash, cash equivalents and restricted cash
        		            1,718,000   -7,975,000 11,778,000 
          cash, cash equivalents and restricted cash at beginning of year
        		                 
          cash, cash equivalents and restricted cash at end of year
        		                 
          right-of-use assets obtained in exchange for new operating lease liabilities
        		 -288,000 -25,000 -6,000 3,700,000 930,000 -307,000 3,065,000 3,441,000 -1,755,000 6,669,000 7,535,000      
          deferred tax assets associated with redemption of llc units
        		         0 68,000 374,000 145,000 338,000 458,000 3,433,000 -284,000 
          change to apic related to redemption of llc units
        		                 
          supplemental information
        		                 
          cash paid for interest
        		             698,000 1,073,000 1,341,000  
          cash paid for taxes
        		             10,000    
          loss on debt extinguishment
        		                 
          payment of debt issuance costs
        		  0    0 0 -100,000         
          change in apic related to redemption of llc units
        		      186,000 -11,000 -164,000 -2,000 -145,000 65,000      
          tax distributions and tra payments to members
        		     -3,000 -50,000           
          tax distributions to members
        		    -5,349,000    -988,000 -4,733,000 -3,660,000 -1,468,000 -20,000 -3,322,000 -8,100,000 -6,874,000 -43,000 
          payments on svb term loan facility
        		                 
          proceeds received from svb term loan facility
        		                 
          repayment of runway term loan
        		            0 0    
          principal payments on runway term loan
        		            0 0    
          final payment and prepayment penalty on runway term loan
        		            0 0    
          debt issuance costs included in accounts payable and accrued liabilities
        		             -107,000    
          debt issuance costs capitalized to principal of long-term debt
        		                 
          proceeds received from silicon valley bank term loan facility
        		                 
          reconciliation of cash and cash equivalents and restricted cash
        		                 
          total cash and cash equivalents, and restricted cash
        		           146,177,000      
          change in fair value of warrants
        		                0 
          deferred rent
        		                689,000 
          proceeds received from silicon valley bank ("svb") term loan facility
        		                 
          redemption of llc units
        		                0 
          payments of deferred offering costs
        		                 
          issuance of class a common stock in ipo, net of underwriting discounts and offering costs
        		                -298,000 
          issuance of class b and c shares of common stock
        		                0 
          special distributions to members
        		                 
          proceeds received from term loan
        		                 
          borrowings from ppp loan
        		                 
          repayments on ppp loan
        		                 
          right-of-use assets and operating lease liabilities
        		            8,007,000 2,247,000    
          proceeds received from silicon valley bank (“svb”) term loan facility
        		                 
          credit to apic related to redemption of llc units
        		             130,000 -87,000 605,000  
          conversion of class f and class m units to common llc units
        		                0 
          conversion of class p units to common llc units
        		                0 
          adjustment of redeemable convertible preferred units to redemption value
        		                0 
          net exercise of warrants on common llc units
        		                0 
          deferred offering costs included in accounts payable and accrued liabilities
        		                 
          depreciation and amortization
        		                 
          depreciation expense
        		                324,000 
          equity-based compensation expense
        		                1,923,000 
          accounts payable and accrued expenses and other current liabilities
        		                 
          repayments of related party loan
        		                 
          payment of offering costs