BRC Inc., the parent of coffee retailer Black Rifle Coffee, incurred a fourth-quarter loss from a year-earlier profit.
The company posted a loss of -$4.6 million, compared with net income of $976,000 in the year-earlier quarter. Revenue climbed +20% to $71.8 million.
For full-year 2022, Black Rifle boosted its revenue outlook and said it would open 15 to 20 new stores to the 16 it had at year-end.
Gross-profit margin narrowed to 34.3% from 40%. According to the company, product and shipping costs hadn't yet reflected price increases.
“Growing customer enthusiasm for our coffee and mission continues to drive strong results as we increase brand awareness," Black Rifle Founder and Chief Executive Evan Hafer said in a statement. "People overwhelmingly want to buy from companies who share their values, and BRCC’s mission is one everyone can get behind.”