NYSE$SHCO
Soho House & Co Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Soho House & Co Inc. reported strong Q3 2023 results with revenue growth and increased membership.
Soho House & Co Inc. announced its Q3 2023 results, demonstrating strong financial performance. Total revenues reached $301.0 million, a 13.1% increase year-over-year, driven by membership and in-house revenue growth. The company's membership base expanded to 255,252, with Soho House members totaling 184,542. Adjusted EBITDA more than doubled to $42.1 million, reflecting improved operational efficiency and profitability.
- Total Members grew to 255,252, a 20.8% increase year-over-year.
- Total revenues reached $301.0 million, up 13.1% year-over-year.
- Membership revenues increased by 31.3% year-over-year, reaching $93.3 million.
- Adjusted EBITDA more than doubled year-on-year to $42.1 million with 14% margins.
Headline financials
Revenue & EPS history
Soho House · Revenue · Quarterly
$301M
Revenue by segment
Soho House · $180M total across 3 segments · Q3 2021
- In-House revenue$67M—37.2%
- Other revenue$62M—34.4%
- Membership revenue$51M—28.3%
Forward guidance
Soho House & Co Inc. has updated its fiscal year 2023 guidance, expecting to exceed 192,000 Soho House members and achieve an Adjusted EBITDA between $130 million and $135 million. The company also anticipates exceeding 210,000 members by the end of fiscal year 2024.
Tailwinds
- Total Soho House Members expected to exceed 192,000.
- Membership revenues projected between $361 million and $366 million.
- Total revenues anticipated between $1.13 billion and $1.16 billion.
- Adjusted EBITDA expected between $130 million and $135 million.
- Membership guidance set to exceed 210,000 Soho House members by the end of fiscal 2024.
Headwinds
- Assumes ~$20m YoY headwind from FX, reflecting EUR/USD at 1.07 and GBP/USD at 1.22 for fiscal 2023
- Without adding back pre-opening costs, non-cash rent and deferred registration fees of ~$25-30m combined for fiscal 2023 as a whole
- Net loss attributable to Soho House & Co Inc. was $42.4 million or $0.22 per share
- Operating loss (20,403 )
- Net income (loss) (41,450 )
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 8 quarterly earnings reports
+5.1%
Avg return
Earnings day
+10.4%
Avg return
5 days after
+13.8%
Avg return
30 days after
73%
11 / 15 earnings
Positive
+41.8%
Q3 2024
Best reaction
-27.8%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | +0.1% | -0.2% | -0.9% | |
| Q2 2025 | +12.5% | +18.1% | +36.8% | |
| Q1 2025 | +5.1% | -3.4% | +3.9% | |
| Q4 2024 | +2.2% | -21.8% | -10.6% | |
| Q3 2024 | +41.8% | +45.2% | +49.9% | |
| Q2 2024 | +1.7% | +15.2% | +21.8% | |
| Q1 2024 | +10.8% | +8.0% | -1.0% | |
| Q4 2023 | +23.7% | +21.9% | +10.7% | |
| Q3 2023 | — | — | — | |
| Q2 2023 | — | — | — | |
| Q1 2023 | — | — | — | |
| Q4 2022 | +3.2% | — | — | |
| Q3 2022 | -27.8% | — | — | |
| Q2 2022 | -16.8% | — | — | |
| Q1 2022 | -3.9% | — | — | |
| Q4 2021 | +13.4% | — | — | |
| Q3 2021 | +12.1% | — | — | |
| Q2 2021 | -1.0% | — | — |
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