Drive Shack Earnings Reports

Drive Shack Inc. reported a strong third quarter with total revenue increasing by 16% to $88.7 million compared to the same period last year. The growth was primarily driven by increased event sales across American Golf and Drive Shack, as well as the addition of new Puttery venues.

Drive Shack Inc. reported a 17% increase in total revenue for Q2 2022, reaching $86.7 million compared to $73.9 million in Q2 2021. This growth was primarily driven by increased event sales across American Golf and Drive Shack venues, as well as revenue generated by new Puttery venues. However, the company experienced an operating loss of $6.4 million and a net loss of $9.6 million, attributed to strategic investments in Puttery's development and other related expenses.

Drive Shack Inc. reported a Q4 2021 revenue increase of 17.0% to $70.5 million compared to the same period last year, driven by growth in both American Golf and entertainment golf businesses. However, the company experienced an operating loss of $7.9 million and a consolidated net loss of $10.0 million, impacted by increased costs and lease termination expenses.

Drive Shack Inc. reported a total revenue of $76.4 million for the third quarter of 2021, the highest in three years, and an operating loss of $5.9 million with a positive adjusted EBITDA of $3.3 million. The company debuted its first Puttery venue in The Colony, Texas in September 2021.

Drive Shack Inc. reported total revenue of $73.9 million and operating income of $1.1 million for the second quarter of 2021. The company delivered quarterly operating income for the first time in three years and positive Adjusted EBITDA of $7.7 million.

Drive Shack Inc. reported positive fourth quarter results with a net income of $9.9 million and adjusted EBITDA of $5.3 million, driven by strong momentum in both Drive Shack and American Golf businesses.

Drive Shack Inc. reported a decrease in total revenues for Q3 2020, with $66.465 million compared to $74.682 million in Q3 2019. The company experienced a loss applicable to common stockholders of $10.807 million, or $0.16 per share.

Drive Shack Inc. reported a loss of $40.921 million, or ($0.61) per share, for the second quarter ended June 30, 2020, compared to a loss of $14.354 million, or ($0.21) per share, in the corresponding period of the prior year. The company's total revenue was $32.1 million, compared to $71.615 million in the same quarter of the previous year. Despite the challenging environment, the company experienced positive momentum as it reopened its golf courses and Gen 2.0 Drive Shack venues.

Drive Shack Inc. reported its Q4 and full year 2019 financial results, highlighting the strong performance of its Generation 2.0 venues and progress in the development of its Urban Box concept. The company opened its third Generation 2.0 Drive Shack venue in West Palm Beach, FL during the quarter. The company reported a loss of $17 million, or ($0.25) per share, compared to a loss of $5 million, or ($0.07) share, in the corresponding period of the prior year.