Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Revenue, net $ 100,536 $ 75,494 $ 275,974 $ 207,695
Cost of goods sold 66,477 51,549 182,197 137,981
Gross profit 34,059 23,945 93,777 69,714
Operating expenses        
Marketing and advertising 8,260 7,414 22,418 24,591
Salaries, wages and benefits 13,907 15,848 52,087 47,405
General and administrative 19,474 16,301 56,529 46,019
Other operating (income) expense, net (596) 0 734 0
Total operating expenses 41,045 39,563 131,768 118,015
Operating loss (6,986) (15,618) (37,991) (48,301)
Non-operating income (expense)        
Interest expense, net (3,544) (470) (4,658) (1,136)
Other income (expense), net (108) 57 138 350
Change in fair value of earn-out liability 0 0 0 (209,651)
Change in fair value of warrant liability 0 0 0 (56,675)
Change in fair value of derivative liability 0 0 0 (2,335)
Total non-operating expenses (3,652) (413) (4,520) (269,447)
Loss before income taxes (10,638) (16,031) (42,511) (317,748)
Income tax expense 56 71 169 266
Net loss (10,694) (16,102) (42,680) (318,014)
Less: Net loss attributable to non-controlling interest (7,462) (12,059) (30,420) (240,295)
Net loss attributable to BRC Inc. $ (3,232) $ (4,043) $ (12,260) $ (77,719)
Net loss per share attributable to Class A Common Stock        
Basic (in dollars per share) $ (0.05) $ (0.08) $ (0.21)  
Diluted (in dollars per share) $ (0.05) [1] $ (0.08) [1] $ (0.21)  
Weighted- average shares of Class A Common Stock outstanding        
Basic (in shares) 61,964,157 [1] 53,013,720 59,738,542  
Diluted (in shares) 61,964,157 53,013,720 59,738,542  
[1] For the nine months ended September 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 September 30, 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.