Soho House & Co Inc. ( (SHCO) ) has released its Q4 earnings. Here is a breakdown of the information Soho House & Co Inc. presented to its investors.
Soho House & Co Inc., a global membership platform, connects a diverse group of members through its exclusive clubs and hospitality services worldwide. In its latest earnings report, Soho House & Co Inc. announced a 7% increase in total revenues for the fiscal year 2024, reaching $1.2 billion, with membership revenues growing by 17.2%. Despite these gains, the company reported a net loss of $163 million, impacted by foreign exchange losses and impairment charges.
Key financial highlights include a 5.4% growth in fourth-quarter revenues, driven by a 15.6% increase in membership revenues. However, in-house revenues remained flat year-over-year, and the company faced a net loss of $91.7 million in the fourth quarter. Adjusted EBITDA for the fiscal year rose by 14.1% to $131.9 million, reflecting operational improvements and strategic expansions.
Strategically, Soho House expanded its footprint by opening new locations in Portland, Sao Paulo, and London, contributing to a 9.6% year-over-year increase in Soho House members. The company also emphasized its commitment to enhancing member experiences and operational efficiency, which it believes will drive future growth.
Looking forward, Soho House & Co Inc. remains optimistic about its operational and financial transformations, aiming to enhance efficiency and profitability. The company continues to assess a potential offer to go private, although no definitive decisions have been made.