XML 14 R4.htm IDEA: XBRL DOCUMENT v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Revenues:        
Franchise rental income (Note 8) $ 16,866 $ 23,780 $ 58,524 $ 72,534
Total revenue 56,957 49,181 149,736 153,606
Operating expenses:        
General and administrative 11,235 11,247 36,424 33,748
Rent 16,900 23,800 58,500 72,500
Advertising fund expense 5,203 5,773 16,334 19,807
Depreciation and amortization 739 1,009 1,645 2,056
Long-lived asset impairment 0 0 352 170
Total operating expenses 51,936 45,097 137,084 137,309
Operating income 5,021 4,084 12,652 16,297
Other (expense) income:        
Interest expense (5,087) (6,153) (14,781) (18,529)
Other, net 315 (298) 685 (199)
Income (loss) from operations before income taxes 249 (2,367) (1,444) (2,431)
Income tax benefit (expense) 1 (54) 90 201
Income (loss) from continuing operations 250 (2,421) (1,354) (2,230)
Income from discontinued operations (Note 3) 0 89 8,396 2,089
Net income (loss) $ 250 $ (2,332) $ 7,042 $ (141)
Basic:        
Income (loss) from continuing operations (in dollars per share) $ 0.10 $ (1.03) $ (0.58) $ (0.95)
Income from discontinued operations (in dollars per share) 0.00 0.04 3.57 0.89
Net income (loss) per share, basic (in dollars per share) [1] 0.10 (1.00) 3.00 (0.06)
Diluted:        
Income (loss) from continuing operations (in dollars per share) 0.08 (1.03) (0.58) (0.95)
Income from discontinued operations (in dollars per share) 0.00 0.04 3.57 0.89
Net income (loss) per share, diluted (in dollars per share) [1] $ 0.08 $ (1.00) $ 3.00 $ (0.06)
Weighted average common and common equivalent shares outstanding:        
Basic (in shares) 2,499 2,342 2,350 2,338
Diluted (in shares) 3,002 2,342 2,350 2,338
Non-Franchise Lease        
Operating expenses:        
Rent $ 4,058 $ 1,766 $ 7,271 $ 4,257
Franchisor        
Operating expenses:        
Rent 16,866 23,780 58,524 72,534
Royalties        
Revenues:        
Revenues 13,533 15,687 44,019 48,035
Fees        
Revenues:        
Revenues 2,402 2,617 7,671 7,740
Franchisees products        
Revenues:        
Revenues 0 0 0 451
Operating expenses:        
Cost of product sales to franchisees 0 19 0 436
Advertising fund contributions        
Revenues:        
Revenues 5,203 5,773 16,334 19,807
Company-owned salon revenue        
Revenues:        
Revenues 18,953 1,324 23,188 5,039
Operating expenses:        
Company-owned salon expense [2] $ 13,835 $ 1,503 $ 16,534 $ 4,301
[1] Total is a recalculation; line items calculated individually may not sum to total due to rounding.
[2] Includes cost of services and products sold to guests in our company-owned salons. Excludes general and administrative expense, rent, and depreciation and amortization related to company-owned salons