BRC Inc. (NYSE: BRCC)

Black Rifle Coffee Company is a veteran founded and led premium coffee and energy drink company operating through one reportable segment composed of three primary channels: wholesale, direct to consumer, and outposts. The company leverages in house media and content creation to support brand awareness, customer engagement, and community building. Founded in 2014 by U. S. Army Veteran Evan Hafer, Black Rifle Coffee began with a one pound coffee roaster in a garage where Hafer personally roasted, packaged, and shipped coffee directly to consumers. Today it has grown into a widely recognized and nationally distributed brand committed to supporting active duty military, veterans, first responders, and others who share its values.

The company generates revenue through the sale of packaged coffee, single serve coffee, ready to drink coffee, Black Rifle Energy ready to drink energy beverages, branded apparel, coffee brewing equipment, and outdoor and lifestyle gear. Sales are made via three channels: wholesale distribution to food, drug, and mass retailers and specialty retailers; direct to consumer sales through its online platform and subscription based Coffee Club; and company owned and franchised Outpost locations that serve freshly brewed coffee and merchandise. In 2025, wholesale channel sales reached $258.0 million, direct to consumer sales totaled $117.6 million, and Outpost sales amounted to $22.6 million.

The company operates through the following segments:.

• Wholesale: This segment sells packaged coffee and ready to drink beverages through leading food, drug, and mass retailers such as Walmart, Sam’s Club, regional and national grocery chains, and convenience stores including 7 Eleven, Casey’s General Store, and Circle K, as well as specialty retailers like Bass Pro Shops, Scheels, and Ace Hardware.

• DTC: This segment includes the direct to consumer platform featuring the subscription based Coffee Club through which customers can receive ground, whole bean, single serve coffee, or apparel delivered to their home or office on a customizable schedule. As of December 31, 2025, the Coffee Club served approximately 159,900 active subscribers.

• Outposts: This segment operates company owned and franchised coffee shop locations that offer freshly brewed coffee, Black Rifle Coffee merchandise, and a community oriented environment. Since opening the first Outpost in San Antonio, Texas, in 2020, the company has expanded to operate 17 company owned Outposts and 18 franchised locations across ten states including Texas, Utah, and Tennessee. In 2025, Outpost sales totaled $22.6 million.

The company operates in a highly competitive environment across coffee and energy drink categories, facing competition from large international food and beverage companies such as Nestlé, Starbucks, Monster, and Pepsi, as well as private label brands and smaller high growth food and beverage companies. Despite having fewer financial, marketing, and distribution resources than many rivals, Black Rifle Coffee Company differentiates itself through its product portfolio, brand positioning rooted in veteran values, in house media and content creation, and an omnichannel distribution strategy supported by a large and engaged subscriber base. Its in house roasting for a significant portion of bagged coffee and its ability to leverage content and partnerships with organizations like the Dallas Cowboys and the UFC further strengthen its competitive position.

The company serves a diverse customer base that includes active duty military personnel, veterans, first responders, and civilians who share its values. Its wholesale channel sells to major retailers such as Walmart, Sam’s Club, regional and national grocery chains, convenience stores including 7 Eleven, Casey’s General Store, and Circle K, and specialty retailers like Bass Pro Shops, Scheels, and Ace Hardware. The direct to consumer channel reaches individual consumers through its online platform and subscription based Coffee Club. The Outpost channel attracts customers visiting its company owned and franchised coffee shop locations in states such as Texas, Utah, and Tennessee. Additionally, brand partnerships with entities like the Dallas Cowboys and the UFC extend its reach to sports fans and broader audiences.