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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Revenues:        
Franchise rental income (Note 8) $ 20,022 $ 24,087 $ 41,658 $ 48,754
Total revenue 46,719 51,053 92,779 104,425
Operating expenses:        
General and administrative 11,155 11,772 25,189 22,501
Rent 20,000 24,100 41,700 48,800
Advertising fund expense 5,490 6,808 11,131 14,034
Depreciation and amortization 460 677 906 1,047
Long lived asset impairment 0 170 352 170
Total operating expenses 41,222 46,274 85,148 92,212
Operating income 5,497 4,779 7,631 12,213
Other (expense) income:        
Interest expense (4,848) (6,188) (9,694) (12,376)
Other, net (307) 299 370 99
Income (loss) from operations before income taxes 342 (1,110) (1,693) (64)
Income tax (expense) benefit (136) 107 89 255
Income (loss) from continuing operations 206 (1,003) (1,604) 191
Income from discontinued operations (Note 3) 7,439 2,000 8,396 2,000
Net income $ 7,645 $ 997 $ 6,792 $ 2,191
Basic:        
Income (loss) from continuing operations, basic (in dollars per share) $ 0.09 $ (0.43) $ (0.68) $ 0.08
Income from discontinued operations, basic (in dollars per share) 3.20 0.85 3.58 0.86
Net income per share, basic (in dollars per share) [1] 3.29 0.43 2.90 0.94
Diluted:        
Income (loss) from continuing operations, diluted (in dollars per share) 0.07 (0.43) (0.68) 0.08
Income from discontinued operations, diluted (in dollars per share) 2.63 0.85 3.58 0.84
Net income per share, diluted (in dollars per share) [1] $ 2.71 $ 0.43 $ 2.90 $ 0.93
Weighted average common and common equivalent shares outstanding:        
Basic (in shares) 2,324 2,341 2,346 2,336
Diluted (in shares) 2,825 2,341 2,346 2,367
Non-Franchise Lease        
Operating expenses:        
Rent $ 2,149 $ 1,394 $ 3,213 $ 2,491
Franchisor        
Operating expenses:        
Rent 20,022 24,087 41,658 48,754
Royalties        
Revenues:        
Revenues 14,840 15,820 30,486 32,348
Fees        
Revenues:        
Revenues 2,917 2,492 5,269 5,123
Franchisees products        
Revenues:        
Revenues 0 67 0 451
Operating expenses:        
Cost of product sales to franchisees 0 58 0 417
Advertising fund contributions        
Revenues:        
Revenues 5,490 6,808 11,131 14,034
Company-owned salon revenue        
Revenues:        
Revenues 3,450 1,779 4,235 3,715
Operating expenses:        
Company-owned salon expense [2] $ 1,946 $ 1,308 $ 2,699 $ 2,798
[1] Total is a recalculation; line items calculated individually may not sum to total due to rounding.
[2] Includes cost of service and product sold to guests in our company-owned salons. Excludes general and administrative expense, rent, and depreciation and amortization related to company-owned salons