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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Revenues:        
Franchise rental income (Note 8) $ 13,006 $ 16,866 $ 47,597 $ 58,524
Total revenue 52,407 56,957 168,482 149,736
Operating expenses:        
General and administrative 9,975 11,235 31,590 36,424
Rent 13,000 16,900 47,600 58,500
Advertising fund expense 5,215 5,203 16,086 16,334
Depreciation and amortization 914 739 2,478 1,645
Long-lived asset impairment 0 0 0 352
Total operating expenses 46,690 51,936 150,647 137,084
Operating income (loss) 5,717 5,021 17,835 12,652
Other (expense) income:        
Interest expense (5,026) (5,087) (15,552) (14,781)
Gain on earn-out liability 0 0 1,000 0
Other, net 202 315 961 685
Income (loss) from operations before income taxes 893 249 4,244 (1,444)
Income tax (expense) benefit (158) 1 (1,697) 90
Income (loss) from continuing operations 735 250 2,547 (1,354)
Income from discontinued operations (Note 3) 0 0 0 8,396
Net income $ 735 $ 250 $ 2,547 $ 7,042
Basic:        
Income (loss) from continuing operations, basic (in dollars per share) $ 0.29 $ 0.10 $ 1.01 $ (0.58)
Income from discontinued operations, basic (in dollars per share) 0 0 0 3.57
Net income per share (in dollars per share) [1] 0.29 0.10 1.01 3.00
Diluted:        
Income (loss) from continuing operations, diluted (in dollars per share) 0.26 0.08 0.89 (0.58)
Income from discontinued operations, diluted (in dollars per share) 0 0 0 3.57
Net income per share, diluted (in dollars per share) [1] $ 0.26 $ 0.08 $ 0.89 $ 3.00
Weighted average common and common equivalent shares outstanding:        
Basic (in shares) 2,539 2,499 2,513 2,350
Diluted (in shares) 2,864 3,002 2,867 2,350
Rent        
Operating expenses:        
Rent $ 3,622 $ 4,058 $ 10,443 $ 7,271
Franchisor        
Operating expenses:        
Rent 13,006 16,866 47,597 58,524
Royalties        
Revenues:        
Revenues 13,224 13,533 40,901 44,019
Fees        
Revenues:        
Revenues 1,861 2,402 5,398 7,671
Advertising fund contributions        
Revenues:        
Revenues 5,215 5,203 16,086 16,334
Company-owned salon revenue        
Revenues:        
Revenues 19,101 18,953 58,500 23,188
Operating expenses:        
Company-owned salon expense [2] $ 13,958 $ 13,835 $ 42,453 $ 16,534
[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