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Jun 29
Soho House Q2 2025 Earnings Report
Soho House reported Q2 2025 revenue of $329.8M and net income of $24.9M.
Key Takeaways
Soho House delivered Q2 2025 total revenues of $329.8 million, up 8.9% year-over-year, with strong membership growth and improved profitability. Membership revenues rose 15.9% to $118.6 million, while In-House and Other revenues also increased. Net income was $24.9 million, supported by a 14% adjusted EBITDA margin and operational efficiencies.
Total revenues grew 8.9% year-over-year to $329.8 million.
Membership revenues increased 15.9% to $118.6 million, with total members reaching 270,297.
Net income was $24.9 million, with operating income of $59.7 million.
Adjusted EBITDA margin improved to 14% from 10% in Q2 2024.
Soho House
Soho House
Soho House Revenue by Segment
Revenue by Segment
Membership Revenue
CapyFin.comIn-House Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
The company expects continued membership and revenue growth, driven by experiential openings, refreshed spaces, and expanded wellness and food & beverage offerings.
Positive Outlook
- Ongoing expansion with new Soho Farmhouse Ibiza and refreshed existing Houses.
- Launch of Soho Health Clubs with holistic wellness facilities.
- New food and beverage residencies to diversify offerings.
- Improved member satisfaction scores supporting retention.
- Operational efficiencies driving higher profitability.
Challenges Ahead
- Consumer environment remains uncertain.
- Frozen memberships remain elevated at over 10,000.
- Other memberships (Soho Friends and Soho Works) declined year-over-year.
- Reliance on foreign exchange stability due to international footprint.
- No updated numerical financial guidance beyond existing trends.