Loading...
•
Jun 30, 2022
Drive Shack Q2 2022 Earnings Report
Reported a 17% increase in total revenue, driven by growth in event sales and the addition of new Puttery venues.
Key Takeaways
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.
Total revenue increased by 17% to $86.7 million compared to Q2 2021.
American Golf event revenue increased by 311%, and Drive Shack event revenue increased by 106% compared to Q2 2021.
Puttery venues generated total revenue of $4.5 million in Q2 2022.
The company experienced an operating loss of $6.4 million and a net loss of $9.6 million.