v3.23.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Income Statement [Abstract]    
Revenue, net $ 83,490 $ 65,836
Cost of goods sold 55,979 42,623
Gross profit 27,511 23,213
Operating expenses    
Marketing and advertising 7,144 8,151
Salaries, wages and benefits 19,824 16,018
General and administrative 17,758 14,887
Total operating expenses 44,726 39,056
Operating loss (17,215) (15,843)
Non-operating income (expense)    
Interest expense, net (323) (490)
Other income, net 273 348
Change in fair value of earn-out liability 0 (171,098)
Change in fair value of warrant liability 0 (62,109)
Change in fair value of derivative liability 0 (7,507)
Total non-operating expenses (50) (240,856)
Loss before income taxes (17,265) (256,699)
Income tax expense 56 128
Net loss (17,321) (256,827)
Less: Net loss attributable to non-controlling interest (12,521) (193,906)
Net loss attributable to BRC Inc. $ (4,800) $ (62,921)
Net loss per share attributable to Class A Common Stock    
Basic (in dollars per share) [1] $ (0.08) $ (1.36)
Diluted (in dollars per share) [1] $ (0.08) $ (1.36)
Weighted Average Number of Shares Outstanding, Diluted [Abstract]    
Basic (in shares) [1] 58,159,223 44,254,837
Diluted (in shares) [1] 58,159,223 44,254,837
[1] For the three months ended March 31, 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 March 31, 2022, the period following the Business Combination, as defined in Note 1 - Organization and Nature of Business. Shares of Class B Common Stock do not participate in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted loss per share of Class B Common Stock under the two-class method has not been presented. For more information, refer to Note 12 - Net Loss per Share.

Source