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Soho House Q4 2024 Earnings Report
Soho House & Co Inc. announced its fourth quarter and fiscal year 2024 results, with total revenues increasing by 5.4% year-over-year and membership revenues growing by 15.6%.
Key Takeaways
Soho House & Co Inc. reported a strong fourth quarter and fiscal year 2024, with total revenues reaching $305.6 million for the quarter, a 5.4% increase year-over-year. Membership revenues saw significant growth, up 15.6% to $109.3 million. Despite a net loss of $91.7 million, Adjusted EBITDA was $32.3 million, reflecting operational improvements and strategic initiatives.
Total revenues for Q4 2024 increased by 5.4% year-over-year to $305.6 million.
Membership revenues grew by 15.6% year-over-year, reaching $109.3 million.
Adjusted EBITDA for Q4 2024 was $32.3 million, with an 11% margin.
Net loss attributable to Soho House & Co Inc. was $91.7 million, or $0.47 per share.
Soho House
Soho House
Soho House Revenue by Segment
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Membership Revenue
CapyFin.comIn-House Revenue
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CapyFin.com Forward Guidance
The company is optimistic about future growth, driven by operational and finance systems transformation, which is expected to enhance efficiency, resilience, and profitability. They also anticipate continued growth in membership and revenues.
Positive Outlook
- Operational and finance systems transformation expected to unlock efficiency and resilience.
- Confidence in driving long-term growth while maintaining brand identity.
- Continued improvement in the value of Every House membership.
- Successful opening of three new Soho Houses and Scorpios Bodrum.
- Delivery on total Soho House members, Membership revenues, and Total revenues compared to guidance.
Challenges Ahead
- Adjusted EBITDA was impacted by out-of-period adjustments.
- Adjusted EBITDA was impacted by tax expenses related to historical tax matters.
- No assurances can be given that the Special Committee's assessment of the take-private offer will result in any change in strategy or a transaction.
- Future changes in foreign exchange rates could materially impact financial results.
- Uncertainties and assumptions may cause actual results to differ materially from forward-looking statements.