BRLT — what changed in the latest 10-Q
A section-by-section comparison of BRLT's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-07 vs the prior 10-Q · 2025-11-05
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +35 | −63 | ~14 | 21 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | +1 | −6 | ~1 | 0 |
| Legal proceedings | Text added/removed | +1 | −1 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | −7 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-07
We also believe our expanded fine jewelry assortment and strategic customer acquisition will continue to drive fine jewelry orders from new customers and repeat orders from existing customers.
We are in the early stages of selling globally, and a larger geographic footprint will help drive future growth. Our proof-points from localizing our website for Canada, Australia, and the United Kingdom, and our sales to customers from over 50 countries, provide encouraging signs for future global …
We have a unique, asset-light operating model with attractive working capital dynamics, capital-efficient showrooms, and a vast virtual inventory of premium natural and lab-grown diamonds that allows us to offer a broad selection of diamonds while keeping our balance sheet inventory low. This has dr…
We believe we are well positioned at the intersection of key macro-level trends impacting our industry. Consumers are increasingly seeking brands that reflect their values and provide supply chain transparency. This has contributed to our strong brand affinity and loyalty, and further differentiates…
Increases in prices of gold, platinum and other precious metals have also had an impact on our materials costs and have the potential to further impact our business. In addition, many of the materials that go into our products are sourced and manufactured internationally. Tariffs on imports into the…
Text removed vs the prior filing · source: 10-Q · 2025-11-05
Below is a summary of our performance for the nine months ended September 30, 2025:
•Net sales of $313.1 million, up 3.4% compared to $302.6 million for the nine months ended September 30, 2024;
•Net loss of $5.1 million, down 469.6% compared to net income of $1.4 million for the nine months ended September 30, 2024;
•Net loss margin of 1.6%, compared to net income margin of 0.5% for the nine months ended September 30, 2024;
•Adjusted EBITDA of $7.8 million, down 44.9%, compared to $14.2 million for the nine months ended September 30, 2024; and
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-05-07
There have been no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the quarter ended March 31, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial r…
Text removed vs the prior filing · source: 10-Q · 2025-11-05
As previously disclosed in Part II, Item 9A of our 2024 Form 10-K, we identified a material weakness in internal control related to ineffective information technology general controls (“ITGCs”) in the areas of change management, user access and segregation of duties related to certain information te…
deficiencies were due to gaps in the sufficiency of IT resources and risk-assessment processes to identify and assess access in certain IT environments that could impact internal controls over financial reporting.
The material weakness did not result in any identified misstatements in our consolidated financial statements, and there were no changes to previously issued financial results. However, because the material weakness creates a reasonable possibility that a material misstatement to our consolidated fi…
In response to this material weakness in internal control over financial reporting related to ineffective ITGCs for key IT systems, the Company has taken and is continuing to take actions to remediate change management and access related control failures. Items that have been completed and are in th…
The material weakness will not be considered remediated until the applicable controls operate for a sufficient period of time and management has concluded, through testing, that the controls are operating effectively. Furthermore, we cannot assure you that the measures we have taken to date, and act…
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-05-07
On December 5, 2022, plaintiff Veronica Cusimano, a former employee of the Company, filed a representative action against the Company pursuant to the Private Attorneys General Act of 2004 in California Superior Court, Los Angeles County. The complaint alleges, on behalf of the plaintiff and similarl…
Text removed vs the prior filing · source: 10-Q · 2025-11-05
On December 5, 2022, plaintiff Veronica Cusimano, a former employee of the Company, filed a representative action against the Company pursuant to the Private Attorneys General Act of 2004 in California Superior Court, Los Angeles County. The complaint alleges, on behalf of the plaintiff and similarl…
Other information
Text removed vs the prior filing · source: 10-Q · 2025-11-05
On August 11, 2025, Mainsail Partners III, L.P., Mainsail Co-Investors III, L.P. and Mainsail Incentive Program, LLC (together, the “Mainsail Entities”), terminated an existing Rule 10b5-1 trading arrangement (the "Mainsail Sales Plan") which was adopted by the Mainsail Entities on December 11, 2024…
On August 13, 2025, Sharon Dziesietnik, the Company's Chief Operations Officer, terminated an existing Rule 10b5-1 trading arrangement (the "Dziesietnik Sales Plan") which was adopted by Ms. Dziesietnik on June 2, 2024 that was intended to satisfy the affirmative defense of Rule 10b5-1(c) of the Exc…
On August 14, 2025, Ms. Dziesietnik, adopted a Rule 10b5-1 trading arrangement (the "2025 Dziesietnik Sales Plan") that is intended to satisfy the affirmative defense of Rule 10b5-1(c) of the Exchange Act and which provides for the sale of an aggregate of up to 49,128 shares of the Company's Class A…
On August 27, 2025, Jennifer Harris, a member of the Company's Board of Directors, adopted a Rule 10b5-1 trading arrangement (the "Harris Sales Plan") that is intended to satisfy the affirmative defense of
Rule 10b5-1(c) of the Exchange Act and which provides for the sale of an aggregate of up to 40,856 shares of the Company's Class A common stock. The Harris Sales Plan will remain in effect until the earliest of (1) June 30, 2026, (2) the date on which all trades set forth in the Harris Sales Plan ha…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice