Quarterly report [Sections 13 or 15(d)]

Net Income (Loss) Per Share

v3.25.2
Net Income (Loss) Per Share
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share Net Income (Loss) Per Share
Basic net income (loss) per share is calculated by dividing net income (loss) attributable to BRC Inc. by the weighted-average shares of Class A Common Stock outstanding without consideration for potential dilutive securities. Diluted net income (loss) per share represents basic net income (loss) per share adjusted to include the potentially dilutive effect of outstanding unvested share awards, warrants, Common Units and Restricted Common Units that are exchangeable into shares of Class A Common Stock. Diluted net income (loss) per share is computed by dividing the net income (loss) attributable to BRC Inc. by the weighted-average number of shares of Class A Common Stock outstanding for the period determined using the treasury stock method and if-converted method, as applicable. 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.

The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except unit/share and per unit/share amounts, unaudited):

Three Months Ended June 30, Six Months Ended June 30,
2025 2024 2025 2024
Numerator:
Net income (loss) $ (14,512) $ (1,374) $ (22,357) $ 482 
Less: Net income (loss) attributable to non-controlling interest
 (9,183) (892) (14,141) 415 
Net income (loss) attributable to BRC Inc.
 $ (5,329) $ (482) $ (8,216) $ 67 
Denominator:
Weighted-average shares of Class A Common Stock outstanding - Basic 79,146,003  68,209,081  78,780,708  67,260,724 
Weighted-average effect of dilutive securities:
Options —  —  —  16,411 
RSUs —  —  —  489,278 
Incentive Units (Share Equivalents) —  —  —  564,971 
ESPP —  —  —  1,876 
Weighted-average shares of Class A Common Stock outstanding - Diluted 79,146,003  68,209,081  78,780,708  68,333,260 
Net income (loss) per share attributable to Class A Common Stock, basic and diluted
 $ (0.07) $ (0.01) $ (0.10) $ — 

The Company excluded the following potentially dilutive securities, presented based on amounts outstanding at each period end, from the computation of diluted net income (loss) per share attributable to Class A Common Stock because including them would have had an antidilutive effect:

Three Months Ended June 30, Six Months Ended June 30,
2025 2024 2025 2024
Stock options 7,995,668  5,407,036  7,995,668  5,207,383 
Common Units 134,426,861  142,568,263  134,426,861  142,568,263 
RSUs 4,459,117  2,407,540  4,459,117  271,124 
PSUs 8,462,412  8,462,412  8,462,412  8,462,412 
Incentive Units (Share Equivalents) 1,221,857  1,187,537  1,221,857  1,187,537 
ESPP 79,468  72,716  79,468  — 
Total units excluded from computation of diluted net income (loss) per share 156,645,383  160,105,504  156,645,383  157,696,719