v3.22.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]        
Revenue, net $ 66,365 $ 52,357 $ 132,201 $ 101,147
Cost of goods sold 43,809 31,050 86,432 60,202
Gross profit 22,556 21,307 45,769 40,945
Operating expenses        
Marketing and advertising 9,026 8,948 17,177 15,499
Salaries, wages and benefits 15,539 11,443 31,557 19,221
General and administrative 14,831 5,751 29,718 10,589
Total operating expenses 39,396 26,142 78,452 45,309
Operating loss (16,840) (4,835) (32,683) (4,364)
Non-operating income (expense)        
Interest expense (176) (451) (666) (745)
Other income (expense), net (56) (10) 293 (2)
Change in fair value of earn-out liability (38,553) 0 (209,651) 0
Change in fair value of warrant liability 5,435 0 (56,675) 0
Change in fair value of derivative liability 5,172 0 (2,335) 0
Total non-operating expenses (28,178) (461) (269,034) (747)
Loss before income taxes (45,018) (5,296) (301,717) (5,111)
Income tax expense 67 38 195 74
Net loss (45,085) $ (5,334) (301,912) $ (5,185)
Less: Net loss attributable to non-controlling interest (34,330)   (228,236)  
Net loss attributable to BRC Inc. $ (10,755)   $ (73,676)  
Net loss per share attributable to Class A Common Stock        
Basic (in dollars per share) [1] $ (0.22)   $ (1.49)  
Diluted (in dollars per share) [1] $ (0.22)   $ (1.49)  
Weighted-average shares of Class A common stock outstanding        
Basic (in shares) [1] 49,771,104   47,789,909  
Diluted (in shares) [1] 49,771,104   47,789,909  
[1] For the six months ended June 30, 2022, net loss per share of Class A Common Stock and weighted-average shares of Class A Common Stock outstanding is representative of the period from February 9, 2022 through June 30, 2022, the period following the Business Combination, as defined in Note 1 - Organization and Nature of Business. For more information, refer to Note 14 - Net Loss per Share.

Source