Black Rock Coffee Bar Q3 2026: Profit Beat, Revenue Miss, 211 Stores
As seen on the 24/7 Wall St. homepage on November 10, 2026.
Management lifted its full-year target to 40 new store openings after getting ahead of its development plan, with 211 stores now open versus 169 a year ago. Revenue grew 29.7% while missing expectations, and store-level margin slipped to 28.9% from 29.6%.
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Black Rock Coffee Bar posted diluted EPS of $0.05 for the third quarter, clearing the $0.04 analyst consensus, while revenue rose 29.7% year over year to $66.75 million, missing expectations.
The chain now operates 211 locations, up from 169 a year ago, after opening 11 new stores during the quarter. That pace put management ahead of its development plan, lifting the full-year new-store target to 40 openings, with full-year revenue and adjusted EBITDA guidance both reaffirmed.
Same-store sales grew 5.8% in the quarter, extending the streak to 15 consecutive periods of positive comps. The moderation from the year-ago pace reflects a maturing base of existing stores as new units absorb a growing share of the growth story.
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Profitability was mixed at the unit level, with store-level margin slipping to 28.9% and adjusted EBITDA margin narrowing to 12.7%. Operating income swung to a $2.80 million profit from a prior-year loss, largely because IPO-related transaction and restructuring charges did not recur.
Cash on hand fell to $13.6 million from $28.4 million at year-end 2025, consistent with the capital spending required to fund rapid unit growth. The company also faces a pending securities class action lawsuit, with defense costs already running through the current quarter's results.
Mentioned: BRCB