Soho House Reports 9% Revenue Growth and Net Income Turnaround in Latest Quarter

Soho House & Co Inc. reported a significant financial turnaround in its latest quarterly results, with total revenues reaching $329.8 million for the 13 weeks ended June 29, 2025, marking a 9% increase from $302.9 million in the same period last year. Membership revenues rose by 16% to $118.6 million, driven by a 5% increase in Adult Paying Members, while In-House revenues grew by 4% to $132.5 million. The company also recorded a net income of $24.1 million, a stark contrast to the net loss of $30.2 million reported in the prior year, reflecting a substantial operational recovery.

In the first half of the fiscal year, total revenues increased by 8% to $612.7 million, with membership revenues climbing 15% to $231.5 million. The company attributed this growth to a combination of increased membership fees and a rise in the number of members, which reached approximately 270,300, including 213,600 Soho House Members. The Americas segment contributed significantly to this growth, with membership revenues up 15% year-over-year, bolstered by new openings in Sao Paulo and Portland.

Operationally, Soho House expanded its footprint, increasing the number of locations to 46, up from 44 a year earlier. The company also reported a notable increase in its customer engagement metrics, with active app users rising to 216,687. The company’s strategic initiatives, including the introduction of new membership tiers and the opening of additional locations, have contributed to a growing waitlist of over 111,000 applicants, indicating strong demand for its offerings.

The financial performance was further supported by a reduction in operating expenses, which fell by 15% to $270.1 million for the quarter, primarily due to cost management initiatives and a decrease in pre-opening expenses. The company also benefited from a foreign exchange gain of $47.4 million, which positively impacted its overall financial results. Looking ahead, Soho House remains optimistic about its growth trajectory, focusing on expanding its membership base and enhancing its offerings to meet evolving consumer preferences. The company has access to a £75 million ($103 million) undrawn revolving credit facility, providing additional liquidity to support its strategic initiatives.