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EARNINGS PER SHARE | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE Basic earnings per share is computed by dividing net (loss) income applicable to Brilliant Earth Group, Inc. by the weighted average shares of Class A common stock outstanding (and Class D common stock, if outstanding) during the period. Diluted earnings per share is computed by adjusting the net (loss) income available to Brilliant Earth Group, Inc. and the weighted average shares outstanding to give effect to potentially dilutive securities. Shares of Class B and Class C common stock are not entitled to receive any distributions or dividends and are therefore excluded from this presentation since they are not participating securities. Basic and diluted earnings per share of Class A common stock for the three and nine months ended September 30, 2024 and 2023 have been computed as follows (in thousands, except share and per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
Numerator: | 2024 |  | 2023 |  | 2024 |  | 2023
Net (loss) income attributable to Brilliant Earth Group, Inc., BASIC | $ | (141) |  |  | $ | 245 |  |  | $ | 183 |  |  | $ | 341 |
Add: Net (loss) income impact from assumed redemption of all LLC Units to common stock | (934) |  |  | 1,753 |  |  | 1,184 |  |  | 2,452 |
Add (less): Income tax benefit (expense) on net (loss) income attributable to NCI | 239 |  |  | (454) |  |  | (302) |  |  | (634) |
Net (loss) income attributable to Brilliant Earth Group, Inc., after adjustment for assumed conversion, DILUTED | $ | (836) |  |  | $ | 1,544 |  |  | $ | 1,065 |  |  | $ | 2,159 |
Denominator: |  |  |  |  |  |  |
Weighted average shares of common stock outstanding, BASIC | 13,545,256 |  |  | 12,149,770 |  |  | 13,203,551 |  |  | 11,780,905 |
Dilutive effects of: |  |  |  |  |  |  |
Vested LLC Units that are exchangeable for common stock | — |  |  | 84,727,903 |  |  | 85,180,049 |  |  | 84,661,708 |
Unvested LLC Units that are exchangeable for common stock | — |  |  | 265,750 |  |  | 55,708 |  |  | 380,006 |
RSUs | — |  |  | 51,497 |  |  | 87,863 |  |  | 95,846 |
Weighted average shares of common stock outstanding, DILUTED | 13,545,256 |  |  | 97,194,920 |  |  | 98,527,171 |  |  | 96,918,465 |
BASIC earnings per share | $ | (0.01) |  |  | $ | 0.02 |  |  | $ | 0.01 |  |  | $ | 0.03 |
DILUTED earnings per share | $ | (0.01) |  |  | $ | 0.02 |  |  | $ | 0.01 |  |  | $ | 0.02 |
Net (loss) income attributable to the non-controlling interest is added back to net (loss) income in the fully dilutive computation and has been adjusted for income taxes which would have been expensed had the (loss) income been recognized by Brilliant Earth Group, Inc., a taxable entity. The weighted average common shares outstanding in the diluted computation per share assumes all outstanding LLC Units are converted and the Company will elect to issue shares of common stock upon redemption rather than cash-settle. For the three and nine months ended September 30, 2024 and 2023, the dilutive impact of LLC Units convertible into common stock were included in the computation of diluted earnings per share under the if-converted method, except when the effect would be anti-dilutive. The dilutive impact of unvested LLC Units and RSUs were included using the treasury stock method, except when the effect would be anti-dilutive. The following table presents the securities for the three and nine months ended September 30, 2024 and 2023, that have been excluded from the computations of earnings per share because such impact would have been anti-dilutive:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Vested LLC Units | 84,905,562 |  |  | — |  |  | — |  |  | — |
RSUs | 4,386,404 |  |  | 3,226,891 |  |  | 3,616,374 |  |  | 3,075,461 |
Stock options | 681,592 |  |  | 788,020 |  |  | 723,667 |  |  | 806,339 |
Unvested LLC Units | 59,969 |  |  | — |  |  | 14,864 |  |  | — |

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