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MiniLuxe reported strong financial results for FY2024, with significant improvements across key metrics. The company achieved a remarkable 360% year-over-year increase in store-level profitability and reduced SG&A to under 16% of revenue.
Key highlights include:
- Record revenue of $26.1M, up 6% from 2023
- Adjusted EBITDA losses cut by more than half to -$4.0M
- Operating cash burn improved to -$2M from -$7M in 2023
- Year-end cash position improved to $4M
The company expanded through strategic partnerships, including its first joint venture in Atlanta and franchise partner in Brookline, MA. Notable operational achievements include 87% nail designer retention and strong customer loyalty, with 88% repeat customers. Despite early 2025 challenges from LA wildfires and US tariffs, MiniLuxe secured additional funding of $5.067M through private placement and successfully converted all remaining convertible notes.
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