Soho House & Co Inc. Class A (SHCO) reports earnings

The report was filed on March 31, 2025

We may earn a commission from links on this page.
In This Story

Soho House & Co Inc. Class A (SHCO-4.41%) has submitted its 10-K filing for the fiscal year ended December 29, 2024.

The filing reports total revenues of $1,203,814,000, a 7% increase from the previous year. Membership revenues contributed $418,026,000, up 17% year-over-year, driven by an increase in adult paying members and membership fee adjustments.

In-House revenues slightly decreased to $481,613,000, attributed to economic pressures and external factors affecting certain locations. The Americas and United Kingdom segments showed stable performance, while Europe/RoW saw a decline.

Advertisement

Other revenues increased by 6% to $304,175,000, supported by growth in Soho Home and the opening of Scorpios Bodrum, though offset by the closure of some standalone restaurants.

Advertisement

Operating expenses rose by 10% to $1,273,855,000, influenced by inflationary pressures and increased volumes. Despite this, the company achieved an adjusted EBITDA of $131,904,000, a 14% increase from the prior year.

Advertisement

The company reported a net loss of $163,568,000 for the year, up from $129,678,000 in the previous year, largely due to non-cash foreign exchange losses.

As of December 29, 2024, Soho House had 45 Houses in operation and a total membership of 271,541, reflecting a 10% increase in Soho House members.

Advertisement

The company continues to focus on expanding its global presence, with new openings in Portland, Sao Paulo, and London during the fiscal year, and plans for further expansion.

Soho House & Co Inc. maintains a cash and cash equivalents balance of $153 million and access to an undrawn revolving credit facility of £75 million ($94 million).

Advertisement

The filing also discusses the company's ongoing efforts to strengthen its internal controls and financial reporting processes, including the implementation of a new ERP system.

This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Soho House & Co Inc. Class A annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.