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Dec 31, 2021
Drive Shack Q4 2021 Earnings Report
Drive Shack Inc. updated its financial results for Q4 and full year 2021, reflecting an increase in loss on lease terminations and impairment.
Key Takeaways
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.
Total revenue increased by 17.0% to $70.5 million compared to Q4 2020.
American Golf revenue increased by 6.4% to $56.5 million.
Entertainment golf revenue increased by 95.1% to $14.0 million, with Puttery venues generating $2.8 million.
Operating loss was ($7.9) million, a decrease of $4.2 million in profitability versus Q4 2020.