SEGMENT INFORMATION (Tables)

3 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Summarized Financial Information of Reportable Operating Segments

Financial information concerning the Company's reportable operating segments is shown in the tables below.

	Three Months Ended September 30, 2025
	(Dollars in thousands)
	Franchise		Company-owned		Consolidated
Total revenue	$	38,747	$	20,211	$	58,958
Expenses
General and administrative	$	10,209	$	1,142	$	11,351
Rent	430		2,793		3,223
Non-margin expenses (1)	22,927		—		22,927
Company-owned salon expense	—		14,768		14,768
Depreciation and amortization	210		558		768
Operating income	$	4,971	$	950	$	5,921
Unallocated expense, net					(4,565)
Total net income					$	1,356
Segment adjusted EBITDA	$	6,384	$	1,581	$	7,965

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(1)Non-margin expenses include advertising fund and franchise rent expenses which are offset in total revenue and, as such, not used as a primary measure of performance by our CODM.

Financial information reconciling the Company's reportable operating segments Operating income to Adjusted EBITDA is shown in the table below.

	Three Months Ended September 30, 2025
	(Dollars in thousands)
	Franchise		Company-owned		Consolidated
Operating income	$	4,971	$	950	$	5,921
Depreciation and amortization	210		558		768
Other, net	242		—		242
Gain on earn-out liability	1,000		—		1,000
Stock-based compensation expense	629		—		629
Discrete items (1)	(668)		73		(595)
Segment adjusted EBITDA	$	6,384	$	1,581	$	7,965

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(1)Discrete items include one-time professional fees and legal settlements, severance expense, the benefit from lease liability decreases in excess of previously impaired right of use asset, lease termination fees and asset retirement obligation costs.

	Three Months Ended September 30, 2024
	(Dollars in thousands)
	Franchise		Company-owned		Consolidated
Total revenue	$	45,275	$	785	$	46,060
Expenses
General and administrative	$	13,982	$	52	$	14,034
Rent	723		341		1,064
Non-margin expenses (1)	27,277		—		27,277
Company-owned salon expense	—		753		753
Depreciation and amortization	361		85		446
Long-lived asset impairment	352		—		352
Operating income (loss)	$	2,580	$	(446)	$	2,134
Unallocated expenses, net					(2,987)
Total net loss					$	(853)
Segment adjusted EBITDA	$	7,986	$	(349)	$	7,637

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(1)Non-margin expenses include advertising fund and franchise rent expenses which are offset in total revenue and, as such, not used as a primary measure of performance by our CODM.

Financial information reconciling the Company's reportable operating segments Operating income (loss) to Adjusted EBITDA is shown in the table below.

	For the Three Months Ended September 30, 2024
	(Dollars in thousands)
	Franchise		Company-owned		Consolidated
Operating income (loss)	$	2,580	$	(446)	$	2,134
Depreciation and amortization	361		85		446
Long lived asset impairment	352		—		352
Other, net	677		—		677
Stock-based compensation expense	1,430		—		1,430
Discrete items (1)	2,586		12		2,598
Segment adjusted EBITDA	$	7,986	$	(349)	$	7,637

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(1)Discrete items include one-time professional fees and legal settlements, severance expense, the benefit from lease liability decreases in excess of previously impaired right of use asset, lease termination fees and asset retirement obligation costs.

Schedule of Reportable Operating Segment Salons

Segment information is prepared on the same basis that the CODM reviews financial information for operational decision-making purposes. The Company's reportable operating segments consisted of the following salons:

	September 30, 2025		June 30, 2025
FRANCHISE SALONS:
Supercuts	1,688		1,711
SmartStyle/Cost Cutters in Walmart stores	1,032		1,049
Portfolio Brands	802		816
Total North American salons	3,522		3,576
Total International salons (1)	71		71
Total franchise salons	3,593		3,647
as a percent of total franchise and company-owned salons	92.6	%	92.5	%
COMPANY-OWNED SALONS:
Supercuts	99		100
Portfolio Brands	187		194
Total company-owned salons	286		294
as a percent of total franchise and company-owned salons	7.4	%	7.5	%
Total franchise and company-owned salons	3,879		3,941

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(1)Canadian and Puerto Rican salons are included in the North American salon totals.