BRCB on Nasdaq
Black Rock Coffee Bar, Inc.
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
0.4%Operating margin2
-0.0%Net margin2
24.5%Revenue growth, 20252
-0.1%Return on equity2
0.57×Debt to equity2
-$32.7MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Store Revenue brought in 100% of the revenue Black Rock Coffee Bar, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Store Revenue | $133.0M | $160.7M | $200.1M |
| Product and Service, Other | $201.0K | $235.0K | $235.0K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Selling, general and admin21¢$41.3M
- Other costs79¢$158.5M
- Income tax0¢$475.0K
Out of $200.3M in revenue.2 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending100¢$34.9M
Out of $2.2M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2
Financial statements
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenue | $200.3M | $160.9M | $133.2M |
| Beverage, food and packaging costs | $56.3M | $46.5M | $41.9M |
| Labor and related expenses | $42.0M | $35.1M | $30.2M |
| Occupancy and related expenses | $16.1M | $13.1M | $10.8M |
| Other store operating expenses | $27.2M | $21.2M | $17.3M |
| Total store operating costs and expenses | $141.6M | $115.9M | $100.3M |
| Selling, general and administrative expenses | $41.3M | $25.3M | $20.3M |
| Depreciation and amortization | $12.2M | $10.4M | $8.5M |
| Pre-opening costs | $4.3M | $3.4M | $2.0M |
| Total operating expenses | $199.4M | $154.9M | $131.1M |
| Income from operations | $901.0K | $6.0M | $2.0M |
| Interest expense, net | -$9.3M | -$11.1M | -$10.9M |
| Other income (expense), net | -$7.6M | -$1.8M | $566.0K |
| Loss before income taxes | -$16.1M | -$6.9M | -$8.3M |
| Income tax expense | $475.0K | $270.0K | $357.0K |
| Net loss | -$16.5M | -$7.2M | -$8.7M |
| Less: Net loss attributable to Black Rock OpCo prior to the Transactions | -$16.4M | $0 | $0 |
| Less: Net income (loss) attributable to noncontrolling interest | -$102.0K | $20.0K | $119.0K |
| Net loss attributable to Black Rock Coffee Bar, Inc. | -$60.0K | -$7.2M | -$8.8M |
| Basic (in dollars per share) | $0.00 | ||
| Diluted (in dollars per share) | $0.00 | ||
| Basic (in shares) | 17.0M shares | ||
| Diluted (in shares) | 17.0M shares |
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2025-08-31 | 2024-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $28.4M | $10.2M | |
| Receivables, net | $3.5M | $4.3M | |
| Inventories | $2.9M | $2.1M | |
| Prepaid expenses and deposits | $5.4M | $2.9M | |
| Total current assets | $40.1M | $19.4M | |
| Property and equipment, net | $101.2M | $70.0M | |
| Operating lease right-of-use assets, net | $126.9M | $101.6M | |
| Note receivable from related party | $0 | $5.2M | |
| Other assets | $277.0K | $0 | |
| Goodwill | $9.4M | $9.4M | |
| Deferred income tax asset | $52.8M | $0 | |
| Intangible assets, net | $5.8M | $7.3M | |
| Total assets | $336.4M | $212.9M | |
| Accounts payable | $12.1M | $6.6M | |
| Accrued expenses | $8.0M | $3.4M | |
| Accrued payroll and benefits | $6.5M | $7.0M | |
| Deferred compensation | $0 | $5.8M | |
| Gift card and loyalty program liability | $2.1M | $1.2M | |
| Current portion of long-term debt | $835.0K | $925.0K | |
| Current portion of operating lease liabilities | $9.0M | $8.4M | |
| Total current liabilities | $38.6M | $33.3M | |
| Tax receivable agreement liability | $38.9M | $0 | |
| Long-term debt, net of current portion | $25.9M | $89.3M | |
| Operating lease liabilities, net of current portion | $128.3M | $107.0M | |
| Total liabilities | $231.7M | $229.6M | |
| Total temporary equity | $241.2M | ||
| Members deficit (4,000,000 Class A Common Units authorized as of December 31, 2024; 2,646,087 units issued and outstanding as of December 31, 2024) | -$257.8M | ||
| Preferred stock, par value $0.00001 per share; 20,000,000 shares authorized, no shares issued or outstanding as of December 31, 2025 | $0 | ||
| Additional paid-in capital | $45.7M | ||
| Accumulated deficit | -$60.0K | ||
| Total shareholders' equity attributable to Black Rock Coffee Bar, Inc./members' deficit | $45.7M | -$257.8M | |
| Noncontrolling interest | $59.0M | $0 | |
| Total shareholders' equity/members' deficit | $104.7M | -$257.8M | |
| Total liabilities, temporary equity and shareholders' equity/members' deficit | $336.4M | $212.9M | |
| Common unit, authorized (in shares) | 4.0M shares | ||
| Common units, issued (in shares) | 2.6M shares | ||
| Common units, outstanding (in shares) | 2.6M shares | ||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Preferred stock, shares authorized (in shares) | 20.0M shares | 20.0M shares |
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$16.5M | -$7.2M | -$8.7M |
| Depreciation and amortization | $12.2M | $10.4M | $8.5M |
| Forgiveness of Related Party Note Receivable | $5.3M | $0 | $0 |
| Loss on disposal of property and equipment | $0 | $259.0K | $0 |
| Amortization of debt issuance costs and loan fees | $1.1M | $1.3M | $1.1M |
| Accrued paid-in-kind interest | $133.0K | $388.0K | $824.0K |
| Interest income from related party | -$88.0K | -$184.0K | -$92.0K |
| Loss on extinguishment of debt | $1.6M | $0 | $0 |
| Equity-based compensation | $2.1M | $0 | $0 |
| Deferred income taxes | $232.0K | $0 | $0 |
| TRA remeasurement gain | -$334.0K | $0 | $0 |
| Non-cash operating lease costs | $9.5M | $8.0M | $6.9M |
| Other loss (gain) | $0 | $259.0K | -$400.0K |
| Receivables, net | $220.0K | -$3.5M | $290.0K |
| Inventories | -$843.0K | -$596.0K | $331.0K |
| Prepaid expenses and deposits | -$2.5M | -$924.0K | -$26.0K |
| Other assets | -$277.0K | $0 | $634.0K |
| Accounts payable | $3.5M | $27.0K | -$1.8M |
| Accrued payroll and benefits | -$435.0K | $2.4M | $1.9M |
| Deferred compensation | -$5.8M | $3.5M | $2.3M |
| Accrued expenses | -$9.0K | $146.0K | -$391.0K |
| Gift card and loyalty program liability | $940.0K | $408.0K | -$1.1M |
| Operating lease liabilities | -$7.8M | -$1.3M | -$5.3M |
| Net cash provided by operating activities | $2.2M | $13.3M | $5.2M |
| Purchases of property and equipment | -$34.9M | -$22.2M | -$16.2M |
| Purchase of intangible assets | -$430.0K | -$745.0K | -$248.0K |
| Note receivable from related party | $0 | $0 | -$4.9M |
| Proceeds from Roasters settlement | $0 | $0 | $5.9M |
| Net cash used in investing activities | -$35.3M | -$22.9M | -$15.4M |
| Proceeds from initial public offering, net of underwriting discounts and commissions | $314.6M | $0 | $0 |
| Payments of costs related to initial public offering | -$8.0M | $0 | $0 |
| Purchase of LLC Units from Continuing Equity Owners | -$242.8M | $0 | $0 |
| Proceeds from long-term debt | $74.7M | $12.5M | $0 |
| Payments on long-term debt | -$144.0M | -$894.0K | -$800.0K |
| Payments of debt issuance costs and loan fees | -$1.4M | -$2.2M | -$448.0K |
| Purchase of noncontrolling interest position | $0 | -$1.6M | |
| Payments for redemption of outstanding Series A units | -$3.4M | -$14.6M | |
| Unitholder contributions | $62.4M | $10.0M | $30.9M |
| Unitholder distributions | -$600.0K | -$624.0K | -$8.1M |
| Net cash provided by financing activities | $51.3M | $2.6M | $21.6M |
| Net increase (decrease) in cash and cash equivalents | $18.2M | -$7.0M | $11.3M |
| Cash paid during the year for interest, net of capitalized interest | $9.3M | $10.1M | $9.4M |
| Income taxes paid, net of refunds | $340.0K | $277.0K | $195.0K |
| Additions of property and equipment accrued in accounts payable and accrued expenses | $8.3M | $1.7M | $845.0K |
| Noncash recognition of finance obligations related to failed sale-leaseback transactions | $3.0M | $0 | $0 |
Recent filings
- Oct 9, 2026SCHEDULE 13G
- Sep 11, 2026144
- Sep 11, 2026144
- Aug 27, 2026144/A
- Aug 14, 2026SCHEDULE 13G/A
- Aug 14, 2026SCHEDULE 13G/A
- Aug 12, 202610-Q
- Aug 11, 20268-K
- Aug 11, 2026144
- Jul 8, 2026SCHEDULE 13G/A
- Jun 5, 2026SCHEDULE 13G/A
- Jun 1, 20268-K
- May 28, 20264
- May 28, 20264
- May 28, 20264
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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