BRC, Inc. (NYSE:BRCC) Q4 2022 Earnings Conference Call March 15, 2023 4:30 PM ET

Company Participants

Tanner Doss - VP, Investor Relations

Evan Hefer - Founder & CEO

Tom Davin - Co-CEO, Black Rifle Coffee Company

Gregory Iverson - CFO

Toby Johnson - Chief Operating Officer

Heath Nielsen - Chief Retail Officer

Conference Call Participants

Michael Baker - D.A. Davidson

Bill Chappell - Truist Securities

Joe Altobello - Raymond James

Steve Powers - Deutsche Bank

Operator

Greetings. Welcome to the Black Rifle Coffee Company Fourth Quarter and Full Year 2022 Earnings Call. [Operator Instructions] Please note, this conference is being recorded.

I will now turn the conference over to your host, Tanner Doss, you may begin.

Tanner Doss

Good afternoon, everyone. Thank you for joining Black Rifle Coffee Company's conference call to discuss our fourth quarter 2022 financial results, which we released today and can be found on our website at ir.blackriflcoffee.com. With me on the call today is Evan Hefer, Founder and CEO; Tom Davin, Co-CEO; Greg Iverson, our Chief Financial Officer; Toby Johnson, our Chief Operating Officer; and Heath Nielsen, our Chief Retail Officer.

Before we get started, I would like to remind you the company's safe harbor language, which I'm sure you're all familiar with. On today's call, management may make forward-looking statements, including guidance and underlying assumptions. Forward-looking statements are based on expectations that involve risks and uncertainties that could cause actual results to differ materially. For a further discussion of risks related to our business, please see our previous filings with the SEC.

This call will also contain non-GAAP financial measures such as adjusted EBITDA. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are included in the earnings release furnished to the SEC, and they are also available on our investor website.

Now I'd like to turn the call over to Evan Hefer, Founder and CEO of Black Rifle Coffee Company. Evan?

Evan Hefer

Thanks, Tanner, and good afternoon, everyone. It's hard to imagine it's been a full year since our first earnings call as a public company, but I'm excited to share some highlights from 2022 and lay out our goals for 2023.

Just under a decade ago, I started this business in my garage with a 1-pound coffee roaster, roasting one bag at a time with my wife. At that time, we were just a small D2C brand focusing on a small portion of the coffee drinking public. Fast forward to today, Black Rifle has established itself not only as a mainstream brand but also as an omnichannel CPG business, less than six months into our launch at Walmart, we have risen to the number four 4 brand in bagged coffee and within that, the number one selling branded 12-ounce bagged coffee, the largest dollar volume package size within Walmart's bagged coffee segment.