Soho House & Co Inc
NYSE:SHCO

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Soho House & Co Inc Logo
Soho House & Co Inc
NYSE:SHCO
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Price: 8.96 USD Market Closed
Market Cap: 1.8B USD

Soho House & Co Inc
Investor Relations

Soho House & Co., Inc. is a holding company, which offers global membership platform of physical and digital spaces. The company is headquartered in New York City, New York and currently employs 7,714 full-time employees. The company went IPO on 2021-07-15. The firm's business operations are conducted through its subsidiary, Soho House Holdings Limited. The company provides a global membership platform of physical and digital spaces that connects diverse groups of members from across the world. The members use the platform to both work and socialize, to connect, create, have fun and drive change. The firm's segments include United Kingdom, North America and Europe and Rest of the World. The members are engaged with the Company through its global portfolio consists of approximately 41 Soho Houses, nine Soho Works, Scorpios Beach Club in Mykonos, Soho Home, its interiors and lifestyle retail brand, and its digital channels. A Soho House membership offers access to a network of Houses, across North America, the United Kingdom, Europe and Asia. The Company’s portfolio also includes The LINE and Saguaro hotels in North America.

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Last Earnings Call
Fiscal Period
Q3 2024
Call Date
Dec 19, 2024
AI Summary
Q3 2024

Buyout Offer: Soho House received a $9 per share buyout offer from a third-party consortium, a substantial premium to its current share price. An independent board committee is reviewing this offer.

Membership Growth: Membership revenues grew 17% year-over-year and 5% quarter-over-quarter, with global membership reaching about 208,000, supported by strong demand and a record waitlist.

Revenue & EBITDA: Total revenue rose 14% year-over-year to $333 million, while adjusted EBITDA increased 38% to $48 million, though this was slightly below management's expectations.

Guidance Lowered: 2024 total revenue guidance was reduced to the low end of the previous range (~$1.2 billion), and adjusted EBITDA guidance was cut to about $140 million due to weaker in-house spending and unique one-off events.

Regional Trends: Like-for-like sales growth was strongest in Europe and the UK, while North America lagged slightly, impacted by macro factors and U.S. election uncertainty.

Operational Transformation: The company is investing in a new ERP system and restructuring, causing near-term cost pressure but expected to drive future efficiency and savings.

Positive Outlook: Despite recent volatility, management sees strong momentum for Q1 2025 bedroom bookings, suggesting renewed demand post-election.

Key Financials
Revenue
$333 million
Membership Revenue
$107 million
Adjusted EBITDA
$48 million
Adjusted EBITDA Margin
approximately 14.5%
House Level Contribution
up $9 million year-on-year
House Level Margin
28%
Net Income
positive (up from negative $49 million in prior year Q3)
Members
approximately 208,000
Net Debt
$686 million
Cash and Cash Equivalents
$147 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Ronald Wayne Burkle
Executive Chairman
No Bio Available
Mr. Andrew Carnie
CEO & Director
No Bio Available
Mr. Nick Jones
Founder & Director
No Bio Available
Mr. Thomas Glassbrooke Allen
Chief Financial Officer
No Bio Available
Mr. Thomas Collins
Chief Operating Officer
No Bio Available
Ben Nwaeke
Chief Legal Officer & Corporate Secretary
No Bio Available

Contacts

Address
NEW YORK
New York City
515 W. 20Th Street, 5Th Floor
Contacts