Regis Corporation Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Regis Corporation filed its 10-Q for the period ending December 31, 2023, detailing financial performance and balance sheet information.</b>

AI Summary

REGIS CORP (RGS) filed a Quarterly Report (10-Q) with the SEC on January 31, 2024. Regis Corporation reported financial results for the quarter and six months ended December 31, 2023. The filing includes data for various revenue streams such as royalties, fees, and product sales. Balance sheet information as of September 30, 2023, and December 31, 2023, is detailed. Key financial statement components like common stock, additional paid-in capital, and retained earnings are presented. The report covers the fiscal second quarter of 2024.

Why It Matters

For investors and stakeholders tracking REGIS CORP, this filing contains several important signals. This filing provides investors with the latest financial performance data for Regis Corporation, crucial for assessing the company's health and investment potential. Understanding the breakdown of revenue streams and balance sheet changes helps in evaluating the company's operational efficiency and financial stability.

Risk Assessment

Risk Level: medium — REGIS CORP shows moderate risk based on this filing. The filing is a standard 10-Q, which provides a snapshot of financial health but does not contain forward-looking statements or significant new strategic information that would drastically alter risk perception.

Analyst Insight

Review the detailed revenue segments and balance sheet changes to understand the operational and financial trends of Regis Corporation.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Period End Date (Conformed period of report)
• 2024-01-31 — Filing Date (Filed as of date)
• 2023-07-01 — Quarter Start Date (Reporting period)
• 2023-12-31 — Quarter End Date (Reporting period)

Key Players & Entities

• REGIS CORP (company) — Filer name
• 0000716643 (company) — Central Index Key
• RGS (company) — Ticker symbol
• MINNEAPOLIS (company) — Business address city
• MN (company) — Business address state
• 20231231 (date) — Conformed period of report
• 20240131 (date) — Filed as of date

Forward-Looking Statements

• Regis Corp.'s stock price will face downward pressure due to continued declines in royalty revenue. (Regis Corp.) — medium confidence, target: 2024-06-30
• The company may need to implement new strategies to bolster its franchise base or increase per-franchise revenue to reverse the trend. (Regis Corp.) — medium confidence, target: 2024-12-31

FAQ

Key Dates

• 2023-12-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-01-31: Filing Date — Date the 10-Q was officially filed with the SEC.

Key Financial Figures

• $0.05 — ange on which registered Common Stock, $0.05 par value RGS The Nasdaq Stock Market L

Filing Documents

• rgs-20231231.htm (10-Q) — 1062KB
• exhibit31-regiscorporati.htm (EX-3.1) — 4KB
• rgs8k120123.htm (EX-3.1) — 30KB
• exhibit32-regiscorporati.htm (EX-3.2) — 9KB
• rgs-20231231xex311.htm (EX-31.1) — 10KB
• rgs-20231231xex312.htm (EX-31.2) — 10KB
• rgs-20231231xex32.htm (EX-32) — 6KB
• exhibit31-regiscorporati001.jpg (GRAPHIC) — 274KB
• exhibit32-regiscorporati001.jpg (GRAPHIC) — 616KB
• 0000716643-24-000008.txt (&nbsp;) — 7135KB
• rgs-20231231.xsd (EX-101.SCH) — 44KB
• rgs-20231231_cal.xml (EX-101.CAL) — 86KB
• rgs-20231231_def.xml (EX-101.DEF) — 189KB
• rgs-20231231_lab.xml (EX-101.LAB) — 548KB
• rgs-20231231_pre.xml (EX-101.PRE) — 346KB
• rgs-20231231_htm.xml (XML) — 831KB

Financial Statements (Unaudited)

Financial Statements (Unaudited): Condensed Consolidated Balance Sheets as of December 31, 2023 and June 30, 2023 3 Condensed Consolidated Statements of Operations for the Three and Six Months Ended December 31, 2023 and 2022 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended December 31, 2023 and 2022 6 Condensed Consolidated Statements of Shareholders' Deficit for the Three and Six Months Ended December 31, 2023 and 2022 7 Condensed Consolidated Statements of Cash Flows for the Six Months Ended December 31, 2023 and December 31, 2022 8 Notes to Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 33 Part II. Other Information 34 Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 5. Other Information 37 Item 6. Exhibits 38

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) REGIS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) As of December 31, 2023 and June 30, 2023 (Dollars in thousands, except per share data) December 31, 2023 June 30, 2023 ASSETS Current assets: Cash and cash equivalents (Note 7) $ 7,153 $ 9,508 Receivables, net 12,012 10,885 Inventories, net 1,217 1,681 Other current assets 15,034 15,164 Total current assets 35,416 37,238 Property and equipment, net 5,889 6,422 Goodwill (Note 1) 173,780 173,791 Other intangibles, net 2,635 2,783 Right of use asset (Note 8) 331,183 360,836 Other assets 24,814 26,307 Total assets $ 573,717 $ 607,377 LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities: Accounts payable $ 12,047 $ 14,309 Accrued expenses 25,923 30,109 Short-term lease liability (Note 8) 76,895 81,917 Total current liabilities 114,865 126,335 Long-term debt, net (Note 9) 181,663 176,830 Long-term lease liability (Note 8) 266,483 291,901 Other non-current liabilities 44,296 49,041 Total liabilities 607,307 644,107 Commitments and contingencies (Note 6) Shareholders' deficit: Common stock, $ 0.05 par value; issued and outstanding, 2,279,450 and 2,277,828 common shares at December 31, 2023 and June 30, 2023, respectively (Note 1) 114 114 Additional paid-in capital (Note 1) 67,710 66,764 Accumulated other comprehensive income 9,026 9,023 Accumulated deficit ( 110,440 ) ( 112,631 ) Total shareholders' deficit ( 33,590 ) ( 36,730 ) Total liabilities and shareholders' deficit $ 573,717 $ 607,377 _______________________________________________________________________________ The accompanying notes are an integral part of the unaudited Condensed Consolidated Financial Statements. 3 REGIS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) For the Three and Six Months Ended December 31, 2023 and 2022 (Dollars and shares in thousands, except per share amounts) Three Months Ended December

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View this 10-Q filing on SEC EDGAR