$RGS

REGIS CORP

CIK:0000716643|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Revenues:
Franchise rental income (Note 6)	$ 62,943	$ 76,599	$ 95,258
Total revenue	224,485	210,134	202,982
Operating expenses:
General and administrative	42,045	46,764	45,387
Rent	62,900	76,600	95,300
Advertising fund expense	21,392	21,924	25,663
Depreciation and amortization	4,112	2,966	3,945
Long-lived asset impairment (Note 1)	52	352	798
Total operating expenses	200,037	190,195	182,092
Operating income	24,448	19,939	20,890
Other (expense) income:
Interest expense	(20,673)	(20,252)	(25,393)
Gain on extinguishment of long-term debt, net	0	0	94,611
Gain on earn-out liability	1,000	0	0
Other, net	1,096	1,849	(172)
Income from operations before income taxes	5,871	1,536	89,936
Income tax benefit (expense)	1,072	115,496	(869)
Income from continuing operations	6,943	117,032	89,067
Income from discontinued operations, net of income taxes (Note 3)	0	6,504	1,993
Net income	$ 6,943	$ 123,536	$ 91,060
Basic:
Income from continuing operations (in dollars per share)	$ 2.76	$ 49.51	$ 38.08
Income from discontinued operations (in dollars per share)	0	2.75	0.85
Net income per share, basic (in dollars per share)	2.76	52.26	38.93
Diluted:
Income from continuing operations (in dollars per share)	2.41	43.67	37.50
Income from discontinued operations (in dollars per share)	0	2.43	0.84
Net income per share, diluted (in dollars per share)	$ 2.41	$ 46.10	$ 38.34
Weighted average common and common equivalent shares outstanding:
Basic (in shares)	2,520	2,364	2,339
Diluted (in shares)	2,879	2,680	2,375
Non Franchise Lease
Operating expenses:
Rent	$ 13,452	$ 10,487	$ 5,525
Franchisor
Operating expenses:
Rent	62,943	76,599	95,258
Royalties
Revenues:
Revenues	54,581	58,163	64,098
Fees
Revenues:
Revenues	7,247	9,717	10,189
Product sales to franchisees
Revenues:
Revenues	0	0	451
Operating expenses:
Cost of product sales to franchisees	0	0	436
Advertising fund contributions
Revenues:
Revenues	21,392	21,924	25,663
Company-owned salon revenue
Revenues:
Revenues	78,322	43,731	7,323
Operating expenses:
Company-owned salon expense (Note 1)	$ 56,041	$ 31,103	$ 5,080

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

12 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2024

Cash flows from operating activities:

Net income

$ 6,943

$ 123,536

$ 91,060

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

Gain from sale of OSP (Note 3)

(8,396)

(2,000)

Depreciation and amortization (Note 1)

3,861

2,876

3,403

Long-lived asset impairment

352

798

Deferred income taxes

(1,051)

(113,891)

519

Non-cash interest

5,726

5,299

3,418

Gain on extinguishment of long-term debt, net

(94,611)

Gain on earn-out liability

(1,000)

Stock-based compensation

849

1,940

1,558

Amortization of debt discount and financing costs

3,622

3,418

2,987

Other non-cash items affecting earnings

309

(202)

432

Changes in operating assets and liabilities:

Receivables

^[1]

181

(37)

848

Inventories

^[1]

316

871

851

Income tax receivable

^[1]

(137)

1,230

Other current assets

^[1]

1,322

402

(466)

Other assets

^[1]

2,706

4,402

5,829

Ad fund

^[1]

(434)

8,363

(2,435)

Accounts payable

^[1]

(850)

(504)

831

Accrued expenses

^[1]

(3,073)

(5,289)

(4,812)

Net lease liabilities

^[1]

(1,534)

(2,073)

(1,942)

Other non-current liabilities

^[1]

(4,878)

(7,186)

(9,538)

Net cash provided by (used in) operating activities:

13,103

13,744

(2,040)

Cash flows from investing activities:

Capital expenditures

(1,973)

(1,295)

(376)

Asset acquisitions, net of cash acquired and certain obligations assumed

(18,621)

Proceeds from sale of OSP, net of fees

8,463

2,000

Net cash (used in) provided by investing activities:

(1,973)

(11,453)

1,624

Cash flows from financing activities:

Borrowings on revolving credit facility

4,326

14,238

Repayments of revolving credit facility

(13,534)

Repayments of long-term debt

(2,740)

(1,125)

(96,499)

Debt refinancing fees

(262)

(1,003)

(14,360)

Proceeds from issuance of common stock in connection with warrant exercise

299

Proceeds from issuance of common stock for options exercised

607

Proceeds from issuance of long-term debt

15,000

105,000

Taxes paid for shares withheld

(161)

(75)

(16)

Net cash (used in) provided by financing activities:

(2,257)

3,589

8,363

Effect of exchange rate changes on cash and cash equivalents

(83)

(31)

Increase in cash, cash equivalents, and restricted cash

8,790

5,893

7,916

Cash, cash equivalents, and restricted cash:

Beginning of year

43,995

35,205

29,312

End of year

$ 43,995

$ 35,205

$ 29,312

[1]	Changes in operating assets and liabilities exclude assets and liabilities sold or acquired.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Current assets:
Cash and cash equivalents	$ 26,025	$ 16,959
Receivables, net	9,267	9,473
Inventory	2,482	2,798
Other current assets	19,621	21,254
Total current assets	57,395	50,484
Property and equipment, net	9,285	10,085
Goodwill (Note 5)	182,710	183,436
Other intangibles, net	4,727	5,830
Right of use asset (Note 6)	175,684	229,861
Deferred tax asset (Note 10)	103,402	102,504
Other assets	14,019	16,757
Total assets	547,222	598,957
Current liabilities:
Accounts payable	19,556	20,837
Accrued expenses	15,536	19,066
Long-term debt, current portion (Note 8)	3,000	1,100
Short-term lease liability (Note 6)	53,824	60,685
Total current liabilities	91,916	101,688
Long-term debt, net (Note 8)	114,138	109,693
Long-term lease liability (Note 6)	130,465	179,280
Other non-current liabilities	16,891	22,680
Total liabilities	353,410	413,341
Commitments and contingencies (Note 9)
Shareholders' equity:
Common stock, $0.05 par value; issued and outstanding, 2,498,778 and 2,435,981 common shares as of June 30, 2026, and 2025, respectively	125	122
Additional paid-in capital	77,162	75,243
Accumulated other comprehensive income	7,617	8,286
Retained earnings	108,908	101,965
Total shareholders' equity	193,812	185,616
Total liabilities and shareholders' equity	$ 547,222	$ 598,957