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 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement [Abstract]        
Revenue, net $ 91,947 $ 66,365 $ 175,437 $ 132,201
Cost of goods sold 59,741 43,809 115,720 86,432
Gross profit 32,206 22,556 59,717 45,769
Operating expenses        
Marketing and advertising 7,013 9,026 14,157 17,177
Salaries, wages and benefits 18,356 15,539 38,180 31,557
General and administrative 19,296 14,831 37,054 29,718
Impairment on assets held for sale 1,202 0 1,202 0
Total operating expenses 45,867 39,396 90,593 78,452
Operating loss (13,661) (16,840) (30,876) (32,683)
Non-operating income (expense)        
Interest expense, net (791) (176) (1,114) (666)
Other income (expense), net (156) (56) 117 293
Change in fair value of earn-out liability 0 (38,553) 0 (209,651)
Change in fair value of warrant liability 0 5,435 0 (56,675)
Change in fair value of derivative liability 0 5,172 0 (2,335)
Total non-operating expenses (947) (28,178) (997) (269,034)
Loss before income taxes (14,608) (45,018) (31,873) (301,717)
Income tax expense 57 67 113 195
Net loss (14,665) (45,085) (31,986) (301,912)
Less: Net loss attributable to non-controlling interest (10,437) (34,330) (22,958) (228,236)
Net loss attributable to BRC Inc. $ (4,228) $ (10,755) $ (9,028) $ (73,676)
Net loss per share attributable to Class A Common Stock        
Basic (in dollars per share) [1] $ (0.07) $ (0.22) $ (0.15) $ (1.49)
Diluted (in dollars per share) [1] $ (0.07) $ (0.22) $ (0.15) $ (1.49)
Weighted- average shares of Class A Common Stock        
Basic (in shares) [1] 58,741,717 49,771,104 58,607,290 47,789,909
Diluted (in shares) [1] 58,741,717 49,771,104 58,607,290 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. 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.