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BRC (BRCC) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 2, 2026 · BRC (BRCC) Q3 2026 earnings results →

Q3 2026 Revenue up 7% year over year to $108M · 8¢ of every $1 of revenue lost · operating margin -6.9%

BRC made $108M in Q3 2026 (+7% Y/Y). Operating margin -6.9%, net loss $8.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 2, 2026.

Revenue$108M
Year over year+7%
Operating margin-6.9%
Net earnings−$8.7M
Operating cash flow−$2.2M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $108.0M in Q3 2026, up 7% year over year and up 1% from the previous quarter.

Gross margin was 37.1%, up 0.3 points from Q3 2025. Operating costs exceeded revenue by $7.5M, an operating margin of -6.9%. Operating expenses grew 30% against revenue growth of 7%. The fastest-growing cost line was Other operating costs (+65%). The quarter ended with a net loss of $8.7M, wider than the previous quarter's $186K loss. Minority interests bore $5.3M of it: to shareholders the quarter was a loss of $3.3M.

Operating cash flow was −$2.2M. Non-cash charges added back $1.8M of depreciation and amortization and $2.8M of share-based compensation. Working capital and other items added $1.9M. Capital expenditures of $501K exceeded it, leaving free cash flow of −$2.7M.

Quarterly history

BRC revenue by quarterBRC revenue by quarter$90.0MQ1 2025$94.8MQ2 2025$101MQ3 2025$113MQ4 2025$109MQ1 2026$107MQ2 2026$108MQ3 2026
BRC net earnings by quarterBRC net earnings by quarter−$7.8MQ1 2025−$14.5MQ2 2025−$1.2MQ3 2025−$8.6MQ4 2025$46KQ1 2026−$186KQ2 2026−$8.7MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 2, 2026$108M+7%-6.9%−$8.7M−$2.2M
Q2 202610-QAug 3, 2026$107M+13%1.0%−$186K$5.9M
Q1 202610-QMay 4, 2026$109M+21%1.2%$46K$6.8M
Q4 202510-KMar 2, 2026$113M+6%-6.3%−$8.6M−$8.7M
Q3 202510-QNov 3, 2025$101M+3%0.5%−$1.2M$6.4M
Q2 202510-QAug 4, 2025$94.8M+6%-13.3%−$14.5M−$3.3M
Q1 202510-QMay 5, 2025$90.0M-9%-6.0%−$7.8M−$4.1M

Charts

BRC: revenue growth, year over year and quarter over quarterBRC: revenue growth, year over year and quarter over quarterY/YQ/Q-9%Q1 2025+6%+5%Q2 2025+3%+6%Q3 2025+6%+12%Q4 2025+21%-3%Q1 2026+13%-2%Q2 2026+7%+1%Q3 2026
Latest (Q3 2026): Y/Y +7%, Q/Q +1%.
BRC: where the cash came from (+) and went (−), TTM to Q3 2026BRC: where the cash came from (+) and went (−), TTM to Q3 2026Asset & business sales$5.4MNet borrowing (+) / repaid (−)−$4.3MCapital spending−$2.3MOperating cash flow$1.7MOther financing−$720KCash drawn (+) / kept (−)$285KShares issued−$38K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
BRC: profit against cash, quarter by quarterBRC: profit against cash, quarter by quarterNet incomeOperating cash flow−$6.7M$2.2MQ4 2024−$7.8M−$4.1MQ1 2025−$14.5M−$3.3MQ2 2025−$1.2M$6.4MQ3 2025−$8.6M−$8.7MQ4 2025$46K$6.8MQ1 2026−$186K$5.9MQ2 2026−$8.7M−$2.2MQ3 2026
Latest (Q3 2026): Net income −$8.7M, Operating cash flow −$2.2M.
BRC: diluted shares by fiscal yearBRC: diluted shares by fiscal year51MFY202261MFY202371MFY202495MFY2025
+85.8% since FY2022: more shares outstanding (issuance, stock pay).
BRC: long-term debt falling due (FY2025)BRC: long-term debt falling due (FY2025)$2.4M2026$2.0M2027$2.0M2028$32.7M2029
Cash $4.3M, short-term investments —, long-term debt $34.7M at 2025-12-31.
BRC in its industry: growth against margin (22 companies, SIC 2080)BRC in its industry: growth against margin (22 companies, SIC 2080)revenue growth, year over year →↑ operating marginmedian +7%median 1%PEPKOKDPSTZPRMBBF-BWESTCOCOSUJACWGLJSDAWVVIAMSSBUDASRXHMOJOCIRXIPSTMDWKYHCEDVABRCC (+7%, -7%)
Beverages; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About BRC

When used in this report, the terms “we,” “us,” “our,” “BRCC,” “Black Rifle Coffee,” “Black Rifle Coffee Company,” and the “Company” mean BRC Inc. and its consolidated subsidiaries, collectively, unless the context otherwise requires. Black Rifle Coffee Company is a Veteran-founded and led premium coffee, and energy drink, company operating through one reportable segment composed of three primary channels: Wholesale, DTC, and Outposts. We leverage in-house media and content creation to support brand awareness, customer engagement, and community building. Founded in 2014 by U.S. Army Veteran Evan Hafer, Black Rifle Coffee began with a one-pound coffee roaster in a garage, where Hafer personally roasted, packaged, and shipped coffee directly to consumers.

In its own words, from its 10-K, filed Mar 2, 2026.

BRC against its Beverages peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +7% against the peers' median +6%. Operating margin: -6.9% against the peers' median 18.2%.

CompanyQuarterRevenueY/YOp. margin
BRCC BRCQ3 2026$108M+7%-6.9%
PEP PepsiCoQ3 2026$25.3B+6%16.9%
KO Coca ColaQ3 2026$13.4B+7%33.4%
KDP Keurig Dr PepperQ3 2026$7.3B+71%18.2%
STZ Constellation BrandsQ2 FY27$2.8B+6%28.6%
PRMB Primo BrandsQ3 2026$1.8B+3%13.7%
BF-B Brown FormanQ1 FY27$1.2B-0.8%21.3%
WEST Westrock CoffeeQ3 2026$300M-15%1.1%
COCO Vita Coco CompanyQ3 2026$244M+34%18.6%

Source: BRC 10-Q on SEC EDGAR · CIK 1891101 · Beverages

Guidance and outlook

BRC: what its forward-looking statements are about (10-Q filed 2026-11-02)BRC: what its forward-looking statements are about (10-Q filed 2026-11-02)Costs5Demand3Other3Financing3Products2Margins2
18 statements; tone +0.17 (−1 all cautious, +1 all confident); 2 hedged.
BRC: outlook statements against the filing beforeBRC: outlook statements against the filing beforeConfident5Cautious2

More on BRCC

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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