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Regis fiscal 2026 revenue climbs to $224.5M

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

REGIS CORP (RGS) reported fourth-quarter and full fiscal year 2026 results showing underlying operating improvement but lapping a large prior-year tax benefit. For the year ended June 30, 2026, consolidated revenue was $224.5 million versus $210.1 million, with operating income of $24.4 million versus $19.9 million and Adjusted EBITDA of $32.8 million versus $31.6 million. Full-year same-store sales grew 3.0% at Supercuts and 0.9% consolidated. Net income from continuing operations was $6.9 million (diluted EPS $2.41) versus $117.0 million ($43.67), largely due to a $115.5 million income tax benefit from a partial valuation allowance release in 2025.

Fourth-quarter 2026 revenue declined to $56.0 million from $60.4 million, with Adjusted EBITDA of $9.2 million versus $9.7 million and consolidated same-store sales up 0.1%. Franchise revenue fell as non-margin rental income and salon counts declined, while company-owned revenue for the year rose to $78.3 million, reflecting a full year from the Alline Salon Group acquisition and higher Company-owned Adjusted EBITDA. Regis ended the year with $26.0 million in cash, a $116.1 million term loan plus $11.1 million of paid-in-kind interest, and total liquidity of $35.0 million, and is evaluating refinancing alternatives.

Positive

  • Full-year revenue grew 6.8% to $224.5 million from $210.1 million, with operating income up to $24.4 million from $19.9 million and Adjusted EBITDA up to $32.8 million from $31.6 million, indicating stronger underlying operations.
  • Supercuts same-store sales rose 3.0% and consolidated same-store sales grew 0.9% for fiscal 2026, supporting positive traffic and sales trends in core brands.
  • Positive cash flow and liquidity: cash from operations was $13.1 million, year-end cash and equivalents were $26.0 million, and total liquidity under the credit agreement was $35.0 million.

Negative

  • Fourth-quarter revenue declined 7.3% to $56.0 million from $60.4 million, driven largely by lower franchise rental income and other franchise revenues.
  • Franchise revenue fell 12.1% for fiscal 2026 to $146.2 million from $166.4 million, as lower franchise salon counts reduced rental income, royalties, and fees.

Filing Explained

Reported common-stock issuance reduces existing holders’ percentage ownership, while the current revolver carries a $10 million minimum-liquidity covenant through June 2029.

This Form 8-K, which reports specified material events, discloses completed common-stock issuances tied to warrant and option exercises; the June 30, 2026 balance sheet reports 2,498,778 issued and outstanding shares versus 2,435,981 a year earlier.

With more shares issued and outstanding, each existing holder represents a smaller percentage of the company absent offsetting changes.

The cash-flow statement identifies proceeds from warrant exercises and option exercises, so the filing documents issuance and proceeds rather than merely authorization or registration.

The June 30, 2026 debt disclosures show a $25.0 million revolving facility, $19.0 million of unused availability, and a $10.0 million minimum-liquidity covenant expiring in June 2029; those are the stated facility terms to monitor while refinancing alternatives remain under evaluation.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Fiscal 2026 consolidated revenue $224.5 million Full year 2026 vs $210.1 million in 2025
Fiscal 2026 operating income $24.4 million Full year 2026 vs $19.9 million in 2025
Fiscal 2026 Adjusted EBITDA $32.8 million Full year 2026 vs $31.6 million in 2025
Fiscal 2026 net income from continuing operations $6.9 million Full year 2026 vs $117.0 million in 2025, impacted by prior $115.5 million tax benefit
Fourth-quarter 2026 revenue $56.0 million Quarter ended June 30, 2026 vs $60.4 million in 2025
Fiscal 2026 cash from operating activities $13.1 million Full year 2026 vs $13.7 million in 2025
Cash and cash equivalents $26.0 million Balance at June 30, 2026
Term loan principal $116.1 million Outstanding as of June 30, 2026, plus $11.1 million of paid in kind interest
Adjusted EBITDA financial
"Adjusted EBITDA of $32.8 million versus $31.6 million in the same period last year"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
system-wide same-store sales financial
"System-wide same-store sales are calculated as the total change in sales"
A measure of sales growth that compares revenue from all locations in a company’s operating system that were open during both the current and prior comparison periods, excluding new or closed outlets. It shows how much existing stores or franchises are selling now versus before, isolating organic demand changes rather than growth from opening new sites — like comparing the yield of the same trees in an orchard year to year. Investors use it to gauge underlying business momentum and store-level performance across the whole system.
franchise rental income financial
"Non-margin franchise rental income decreased $2.8 million due to fewer salons"
Franchise rental income is the rent a franchisor or related party collects when it owns or leases physical locations and then charges franchisees to occupy those premises, like a landlord collecting payments from tenants. For investors, this creates a predictable, contractual revenue stream that can smooth cash flow and raise the value of a franchise system, but it also ties returns to property risks and lease terms rather than just product or service sales.
non-margin revenue financial
"We present adjusted revenue to provide a meaningful Franchise Adjusted EBITDA margin, which removes non-margin revenue"
Tax Preservation Plan regulatory
"the ability of our Tax Preservation Plan to protect the future availability of the Company's tax assets"
Revenue (FY 2026) $224.5 million vs $210.1 million in fiscal 2025
Operating income (FY 2026) $24.4 million vs $19.9 million in fiscal 2025
Adjusted EBITDA (FY 2026) $32.8 million vs $31.6 million in fiscal 2025
Diluted EPS from continuing operations (FY 2026) $2.41 vs $43.67 in fiscal 2025, reflecting a prior $115.5 million tax benefit
Q4 2026 revenue $56.0 million vs $60.4 million in Q4 2025
Same-store sales (FY 2026) Supercuts 3.0%; Consolidated 0.9% vs Supercuts 1.3%; Consolidated (0.6%) in fiscal 2025

FAQ

How did REGIS CORP (RGS) perform financially in fiscal year 2026?
Regis reported revenue of $224.5 million versus $210.1 million in 2025, operating income of $24.4 million versus $19.9 million, and Adjusted EBITDA of $32.8 million versus $31.6 million. Net income from continuing operations was $6.9 million, or $2.41 per diluted share.

Why did REGIS CORP (RGS) net income drop sharply versus 2025?
Net income from continuing operations was $6.9 million in 2026 versus $117.0 million in 2025. The company states the decrease was driven primarily by a $115.5 million income tax benefit from the partial release of a valuation allowance recorded in the fourth quarter of 2025.

What is REGIS CORP (RGS) liquidity and debt position as of June 30, 2026?
Regis held $26.0 million in cash and cash equivalents, had a $116.1 million term loan plus $11.1 million of paid-in-kind interest, and a $25.0 million revolver with $19.0 million available, for total liquidity of $35.0 million per the agreement.

How did REGIS CORP (RGS) franchise and company-owned segments perform in 2026?
In fiscal 2026, franchise revenue was $146.2 million versus $166.4 million, with Franchise Adjusted EBITDA of $25.2 million. Company-owned revenue was $78.3 million versus $43.7 million, and Company-owned Adjusted EBITDA was $7.6 million versus $3.2 million.

Is REGIS CORP (RGS) planning to refinance its debt?
Regis states that reducing its cost of debt remains a priority and that it is actively evaluating a range of refinancing alternatives with potential partners, under the oversight of its Board, and will pursue a transaction if economics and terms are a meaningful improvement.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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0000716643FALSE00007166432026-09-012026-09-01

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
 
Pursuant to section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): September 1, 2026
 
REGIS CORPORATION
(Exact name of registrant as specified in its charter)
 
Minnesota1-1272541-0749934
(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No)
3701 Wayzata Boulevard
Minneapolis, MN 55416
(Address of principal executive offices and zip code) 
(952) 947-7777
(Registrant’s telephone number, including area code) 

(Former name or former address, if changed from last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.05 par valueRGSThe Nasdaq Global Market
Rights to Purchase Series A Junior Participating Preferred Stock, $0.05 par valueRGSThe Nasdaq Global Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company  ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐


Regis Corporation

Current Report on Form 8-K
 
 
ITEM 2.02    RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On September 1, 2026, Regis Corporation announced the financial results for its fiscal year ended September 1, 2026. A copy of the Press Release issued by Regis Corporation in connection with this Item 2.02 is attached as Exhibit No. 99.1 and incorporated by reference herein.

The information in this Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, regardless of any general incorporation language in such filing.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits.

Exhibit
Number
99.1
Press Release, dated September 1, 2026
104Cover Page Interactive Data File (embedded within the Inline XBRL document).



SIGNATURE
 
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
REGIS CORPORATION
Dated: September 1, 2026
By:/s/ Kersten D. Zupfer
Kersten D. Zupfer
Executive Vice President and Chief Financial Officer


regis.jpg
Exhibit No. 99.1



Regis Corporation Reports Financial Results for Fourth Fiscal Quarter and Full Fiscal Year 2026

Positive Full-Year Same-Store Sales Growth, Including 3.0% at Supercuts

Continued Profitability and Positive Cash Flow Support On-Going Efforts to Advance Long-term Growth Initiatives


MINNEAPOLIS, September 1, 2026 -- Regis Corporation (NasdaqGM: RGS), a leader in the haircare industry, today announced financial results for the fourth fiscal quarter and full year ended June 30, 2026.
Susan Lintonsmith, Regis Corporation's President and Chief Executive Officer, commented, "Fiscal 2026 marked a year of continued progress toward strengthening the foundation of our business. We delivered revenue of $224.5 million, operating income of $24.4 million, Adjusted EBITDA of $32.8 million, and generated more than $13 million in cash from operations while continuing to position the business for its next phase of growth.

“As we enter fiscal 2027, we are building on that stronger foundation to drive sustainable growth. Increasing traffic is key to unlocking our full potential, and continued focus on strengthening our brands and delivering an elevated guest experience at an affordable price will help us reach more guests, build loyalty, and drive repeat visits. We see significant opportunity ahead and are moving with discipline and urgency to capture it."

“Reducing our cost of debt remains a priority," said Kersten Zupfer, Executive Vice President and Chief Financial Officer. "We are actively evaluating a range of refinancing alternatives with potential partners and are advancing through the diligence processes required for each. Our process has the active oversight of our Board, including our recently appointed director, who is also a significant shareholder. We remain focused on achieving the best possible outcome and will pursue a transaction if the economics and terms represent a meaningful improvement over our existing agreement."



Financial Highlights:
Fourth quarter fiscal 2026 compared to fourth quarter fiscal 2025:
•Consolidated revenue of $56.0 million versus $60.4 million, a decrease of $4.4 million
•Same-store sales growth: Supercuts: 2.6%; Consolidated: 0.1%
•Operating income of $6.6 million versus $7.3 million
•Seventh consecutive quarter of positive cash from operations
•Net income of $4.4 million versus $116.5 million
•Diluted EPS of $1.51 versus $42.58
•Adjusted net income of $3.0 million versus $2.0 million
•Adjusted diluted EPS of $1.04 versus $0.74
•Adjusted EBITDA of $9.2 million versus $9.7 million

Full fiscal year 2026 compared to full fiscal year 2025:
•Consolidated revenue of $224.5 million versus $210.1 million
•Same-store sales growth: Supercuts: 3.0%; Consolidated: 0.9%
•Operating income of $24.4 million versus $19.9 million
•Cash from operations of $13.1 million versus $13.7 million, a decrease of $0.6 million
•Net income of $6.9 million versus $123.5 million
•Diluted EPS of $2.41 versus $46.10
•Adjusted net income of $7.8 million versus $7.6 million
•Adjusted diluted EPS of $2.70 versus $2.85
•Adjusted EBITDA of $32.8 million versus $31.6 million




Fourth Quarter Fiscal Year 2026 Consolidated Results
Three Months Ended June 30,Twelve Months Ended June 30,
(Dollars in millions, except per share data)2026202520262025
Consolidated revenue$56.0 $60.4 $224.5 $210.1 
System-wide revenue (1)270.5 278.5 1,066.3 1,104.9 
System-wide same-store sales comps0.1 %1.3 %0.9 %(0.6)%
Operating income$6.6 $7.3 $24.4 $19.9 
Income from continuing operations4.4 118.4 6.9 117.0 
Diluted income per share from continuing operations1.51 43.27 2.41 43.67 
(Loss) income from discontinued operations— (1.9)— 6.5 
Net income4.4 116.5 6.9 123.5 
Diluted earnings per share1.51 42.58 2.41 46.10 
Adjusted EBITDA (2) (3)9.2 9.7 32.8 31.6 
Adjusted net income (2)3.0 2.0 7.8 7.6 
Adjusted diluted net income per share (2)1.04 0.74 2.70 2.85 
_______________________________________________________________________________
(1)Represents total sales within the system.
(2)See GAAP to non-GAAP reconciliations within the attached section titled "Non-GAAP Reconciliations."
(3)Total is a recalculation; line items calculated individually may not sum to total due to rounding.

Revenue
Total consolidated revenue of $56.0 million in the fourth quarter declined $4.4 million, driven primarily by lower non-margin franchise rental income. Total revenue for fiscal year 2026 of $224.5 million, increased $14.4 million, driven primarily by an increase in company-owned salon revenue, partially offset by lower royalties, fees, and non-margin franchise rental income.
Operating Income
Regis reported fourth quarter 2026 income from operations of $6.6 million compared to $7.3 million in the fourth quarter 2025. The $0.7 million decrease was primarily driven by lower royalties and fees. Regis reported fiscal year 2026 income from operations of $24.4 million compared to $19.9 million in fiscal year 2025. The $4.5 million increase was driven primarily by increased company-owned salon revenue, partially offset by lower royalties and fees.




Income from Continuing Operations
Regis reported fourth quarter 2026 net income from continuing operations of $4.4 million, or $1.51 per diluted share, compared to net income from continuing operations of $118.4 million, or $43.27 per diluted share, in the fourth quarter 2025. Regis reported fiscal year 2026 net income from continuing operations of $6.9 million, or $2.41 per diluted share, compared to net income from continuing operations of $117.0 million, or $43.67 per diluted share, in 2025. The year-over-year decrease in net income from continuing operations in both periods was driven primarily by the $115.5 million income tax benefit related to the partial release of the Company's prior year income tax valuation allowance in the fourth fiscal quarter of 2025.
Net Income
The Company reported fourth quarter 2026 net income of $4.4 million, or $1.51 per diluted share, compared to net income of $116.5 million, or $42.58 per diluted share, for the same period last year. The Company reported fiscal year 2026 net income of $6.9 million, or $2.41 per diluted share, compared to net income of $123.5 million, or $46.10 per diluted share, in 2025. The year-over-year decrease in net income in both periods was driven by the $115.5 million income tax benefit related to the partial release of the Company's prior year income tax valuation allowance in the fourth fiscal quarter of 2025.
Adjusted EBITDA
Fourth quarter Adjusted EBITDA of $9.2 million declined $0.5 million versus Adjusted EBITDA of $9.7 million in the same period last year. The decrease was driven primarily by the year-over-year unfavorable impact from foreign currency translation adjustments as well as lower franchise revenue. Fiscal year 2026 Adjusted EBITDA of $32.8 million improved $1.2 million, versus an Adjusted EBITDA of $31.6 million in the same period last year. The improvement was primarily due to higher net company-owned salon revenue and lower general and administrative expenses, partially offset by lower franchise revenue.



Fourth Quarter Fiscal Year 2026 Segment Results
Franchise
Three Months Ended June 30,DecreaseTwelve Months Ended June 30,Increase (Decrease)
(Dollars in millions) (1)2026202520262025
Royalties$13.7 $14.1 $(0.4)$54.6 $58.2 $(3.6)
Fees1.8 2.1 (0.3)7.2 9.7 (2.5)
Advertising fund contributions5.3 5.6 (0.3)21.4 21.9 (0.5)
Franchise rental income15.3 18.1 (2.8)62.9 76.6 (13.7)
Total franchise revenue$36.2 $39.9 $(3.7)$146.2 $166.4 $(20.2)
Franchise same-store sales comps— %1.3 %0.6 %(0.6)%
Franchise segment profit$5.6 $6.6 $(1.0)$21.1 $20.2 $0.9 
Franchise Adjusted EBITDA (2)$6.4 $7.7 $(1.3)$25.2 $28.4 $(3.2)
   as a percent of revenue (1)17.7 %19.3 %17.2 %17.1 %
as a percent of adjusted revenue (2)41.0 %47.4 %40.8 %41.8 %
Total franchise salons3,448 3,647 (199)
as a percent of total franchise and company-owned salons92.9 %92.5 %
_______________________________________________________________________________
(1)Variances calculated on amounts shown in millions may result in rounding differences.
(2)See GAAP to non-GAAP reconciliations within the attached section titled "Non-GAAP Reconciliations."

Franchise Revenue
Fourth quarter franchise revenue was $36.2 million, a $3.7 million, or 9.3%, decrease compared to the prior year quarter. Non-margin franchise rental income decreased $2.8 million due to fewer salons in the current year and franchisees signing their own leases. Royalties were $13.7 million, a $0.4 million, or 2.8%, decrease versus the same period last year due to the decline in salon count.
Fiscal year 2026 franchise revenue was $146.2 million, a $20.2 million, or 12.1%, decrease compared to the prior year, primarily due to a decline in non-margin franchise rental income, royalties, and fees as a result of a lower franchise salon count, primarily driven by the portfolio of salons moving to the Company-owned segment mid-fiscal year 2025 as a result of the acquisition of Alline Salon Group.



Franchise Segment Profit
Fourth quarter franchise segment profit of $5.6 million decreased $1.0 million compared to the same period last year, primarily due to lower royalties and fees. Fiscal year 2026 franchise segment profit of $21.1 million increased $0.9 million year-over-year. The year-over-year increase was primarily the result of decreased general and administrative expenses, partially offset by lower royalties and fees.
Franchise Adjusted EBITDA
Fourth quarter Franchise Adjusted EBITDA of $6.4 million decreased $1.3 million compared to the same period last year. Fiscal year 2026 Franchise Adjusted EBITDA of $25.2 million decreased $3.2 million year-over-year. The decline in both periods was primarily driven by decreases in royalties and fees as a result of lower salon count.



Company-Owned
Three Months Ended June 30,Increase (Decrease)Twelve Months Ended June 30,Increase
(Dollars in millions) (1)2026202520262025
Total company-owned salon revenue$19.8 $20.5 $(0.7)$78.3 $43.7 $34.6 
Company-owned same-store sales comps1.1 %1.9 %4.0 %(2.8)%
Company-owned segment profit (loss)$1.0 $0.7 $0.3 $3.4 $(0.2)$3.6 
Company-owned Adjusted EBITDA$2.8 $2.0 $0.8 $7.6 $3.2 $4.4 
   as a percent of revenue14.1 %9.8 %9.7 %7.3 %
Total Company-owned salons264 294 (30)
as a percent of total franchise and company-owned salons7.1 %7.5 %
_______________________________________________________________________________
(1)Variances calculated on amounts shown in millions may result in rounding differences.

Company-Owned Salon Revenue
Fourth quarter revenue for the company-owned segment decreased $0.7 million versus the prior year to $19.8 million. The year-over-year decline in revenue was driven by lower salon count in the fourth quarter of fiscal year 2026 compared to the same period last year.
Fiscal year 2026 revenue for the company-owned segment improved $34.6 million versus the prior year to $78.3 million primarily due to a full year of income generated by the salons acquired in the acquisition of Alline Salon Group in the second quarter of fiscal year 2025.
Company-Owned Segment Profit (Loss)
Fourth quarter company-owned segment profit (loss) improved $0.3 million year-over-year, primarily due to decreased rent and salon expenses due to the closures of unprofitable salons.
Fiscal year 2026 company-owned segment profit (loss) improved $3.6 million year-over-year, driven primarily by the income generated by the salons acquired through the acquisition of Alline Salon Group in the second fiscal quarter of the prior fiscal year.
Company-Owned Adjusted EBITDA
Fourth quarter Company-owned Adjusted EBITDA improved $0.8 million year-over-year, primarily due to decreased rent and salon expenses due to the closures of unprofitable salons.
Fiscal year 2026 Company-owned Adjusted EBITDA improved $4.4 million year-over-year, driven primarily by the income generated by the salons acquired through the acquisition of Alline Salon Group in the second fiscal quarter of the prior fiscal year.





Balance Sheet and Cash Flow
The Company ended fiscal year 2026 with $26.0 million in cash and cash equivalents. As of June 30, 2026, the Company's borrowing arrangements include a $116.1 million term loan, $11.1 million of paid in kind interest, and a $25.0 million revolving credit facility with a $10.0 million minimum liquidity covenant that expires in June 2029. As of June 30, 2026, the unused available credit under the revolving credit facility was $19.0 million and total liquidity per the agreement was $35.0 million. Net cash provided by operating activities for the fiscal year totaled $13.1 million, a decrease of $0.6 million from the prior year. Cash generation decreased slightly due to the use of restricted ad fund cash in the current year period, offset partially by our lower cost structure.



Non-GAAP reconciliations
For GAAP to non-GAAP reconciliations, please refer to the attached section titled "Non-GAAP Reconciliations." A complete reconciliation of reported earnings to adjusted earnings is included in this press release and is available on the Company’s website at www.regiscorp.com.
Earnings Webcast
Regis Corporation will host a conference call via webcast discussing fourth quarter and fiscal year 2026 results today, September 1, 2026, at 7:30 a.m., Central time. Interested parties are invited to participate in the live webcast by registering for the event at www.regiscorp.com/investor-relations.html. The webcast will include a slide presentation. A replay of the presentation will be available on our website at the same web address.
About Regis Corporation
Regis Corporation (NasdaqGM:RGS) is a leader in the haircare industry. As of June 30, 2026, the Company franchised or owned 3,712 locations. Regis' franchised and corporate locations operate under concepts such as Supercuts®, SmartStyle®, Cost Cutters®, Roosters®, and First Choice Haircutters®. For additional information about the Company, including a reconciliation of certain non-GAAP financial information and certain supplemental financial information, please visit the Investor Information section of the corporate website at www.regiscorp.com.
REGIS CORPORATION:
Kersten Zupfer
investorrelations@regiscorp.com

HAYDEN IR:
James Carbonara
James@haydenir.com
(646) 755-7412

Brett Maas
brett@haydenir.com
(646) 536-7331



This press release contains or may contain "forward-looking statements" within the meaning of the federal securities laws, including statements concerning anticipated future events and expectations that are not historical facts. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this document reflect management's best judgment at the time they are made, but all such statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed in or implied by the statements herein. Such forward-looking statements are often identified herein by use of words including, but not limited to, "may," "will," "believe," "project," "forecast," "expect," "estimate," "anticipate," and "plan." In addition, the following factors could affect the Company's actual results and cause such results to differ materially from those expressed in forward-looking statements. These uncertainties include a potential material adverse impact on our business and results of operations as a result of changes in consumer shopping trends and changes in manufacturer distribution channels; our ability to realize the anticipated benefits of the Alline Acquisition; laws and regulations could require us to modify current business practices and incur increased costs including increases in minimum wages; changes in the general economic environment; changes in consumer tastes, hair product innovation, fashion trends and consumer spending patterns; our reliance on franchise royalties and overall success of our franchisees’ salons; our ability to minimize risks associated with owning and operating additional salons; our salons' dependence on a third-party supplier agreement for merchandise; our and our franchisees' ability to attract, train and retain talented stylists and salon leaders; the success of our franchisees, which operate independently; data security and privacy compliance, and our ability to manage cyber threats and protect the security of potentially sensitive information about our guests, franchisees, employees, vendors or Company information; our use of artificial intelligence; the ability of the Company to maintain a satisfactory relationship with Walmart; marketing efforts to drive traffic to our franchisees' and company-owned salons; our ability to maintain and enhance the value of our brands; reliance on legacy information technology systems; reliance on external vendors; the use of social media; the effectiveness of our enterprise risk management program; potential challenges with the implementation or ongoing operation of our new enterprise resource planning system; our ability to generate sufficient cash flow to satisfy our debt service obligations; compliance with covenants in our financing arrangement; premature termination of agreements with our franchisees; the continued ability of the Company to implement cost reduction initiatives and achieve expected cost savings; our continued ability to compete in our business markets; potential liabilities related to the employee retention credit received by Alline; reliance on our management team and other key personnel; the continued ability to maintain an effective system of internal control over financial reporting; changes in tax exposure; the ability of our Tax Preservation Plan to protect the future availability of the Company's tax assets; potential litigation and other legal or regulatory proceedings; or other factors not listed above. Additional information concerning potential factors that could affect future financial results is set forth under Item 1A of the Company's Annual Report on Form 10-K for the year ended June 30, 2026. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. However, your attention is directed to any further disclosures made in our subsequent annual and periodic reports filed or furnished with the SEC on Forms 10-K, 10-Q, and 8-K and Proxy Statements on Schedule 14A.



REGIS CORPORATION
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except per share data)
June 30,
20262025
ASSETS
Current assets:
Cash and cash equivalents$26,025 $16,959 
Receivables, net9,267 9,473 
Inventory2,482 2,798 
Other current assets19,621 21,254 
Total current assets57,395 50,484 
Property and equipment, net9,285 10,085 
Goodwill182,710 183,436 
Other intangibles, net4,727 5,830 
Right of use asset175,684 229,861 
Deferred tax asset103,402 102,504 
Other assets14,019 16,757 
Total assets$547,222 $598,957 
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable$19,556 $20,837 
Accrued expenses15,536 19,066 
Long-term debt, current portion3,000 1,100 
  Short-term lease liability53,824 60,685 
Total current liabilities91,916 101,688 
Long-term debt, net114,138 109,693 
Long-term lease liability130,465 179,280 
Other non-current liabilities16,891 22,680 
Total liabilities353,410 413,341 
Commitments and contingencies
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 capital77,162 75,243 
Accumulated other comprehensive income7,617 8,286 
Retained earnings108,908 101,965 
Total shareholders' equity193,812 185,616 
Total liabilities and shareholders' equity$547,222 $598,957 
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REGIS CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars and shares in thousands, except per share data)
Three Months Ended June 30,Twelve Months Ended June 30,
2026202520262025
Revenues:
Royalties$13,680 $14,144 $54,581 $58,163 
Fees1,849 2,046 7,247 9,717 
Advertising fund contributions5,306 5,590 21,392 21,924 
Franchise rental income15,346 18,075 62,943 76,599 
Company-owned salon revenue19,822 20,543 78,322 43,731 
Total revenue56,003 60,398 224,485 210,134 
Operating expenses:
General and administrative10,455 10,340 42,045 46,764 
Rent3,009 3,216 13,452 10,487 
Advertising fund expense5,306 5,590 21,392 21,924 
Franchise rent expense15,346 18,075 62,943 76,599 
Company-owned salon expense (1)13,588 14,569 56,041 31,103 
Depreciation and amortization1,634 1,321 4,112 2,966 
Long-lived asset impairment52 — 52 352 
Total operating expenses49,390 53,111 200,037 190,195 
Operating income6,613 7,287 24,448 19,939 
Other (expense) income:
Interest expense(5,121)(5,471)(20,673)(20,252)
Gain on earn-out liability— — 1,000 — 
Other, net135 1,164 1,096 1,849 
Income from operations before income taxes1,627 2,980 5,871 1,536 
Income tax benefit2,769 115,406 1,072 115,496 
Income from continuing operations4,396 118,386 6,943 117,032 
(Loss) income from discontinued operations, net of income taxes— (1,892)— 6,504 
Net income$4,396 $116,494 $6,943 $123,536 
Net income per share:
Basic:
Income from continuing operations$1.73 $48.60 $2.76 $49.51 
(Loss) income from discontinued operations— $(0.78)— 2.75 
Net income per share, basic (2)$1.73 $47.82 $2.76 $52.26 
Diluted:
Income from continuing operations$1.51 $43.27 $2.41 $43.67 
(Loss) income from discontinued operations— $(0.69)— 2.43 
Net income per share, diluted (2)$1.51 $42.58 $2.41 $46.10 
Weighted average common and common equivalent shares outstanding:
Basic2,539 2,436 2,520 2,364 
Diluted2,907 2,736 2,879 2,680 
_______________________________________________________________________________
(1)Includes cost of service and product sold to guests in our company-owned salons. Excludes general and administrative expense, rent, and depreciation and amortization related to company-owned salons.
(2)Total is a recalculation; line items calculated individually may not sum to total due to rounding.
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REGIS CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in thousands)
Twelve Months Ended June 30,
20262025
Cash flows from operating activities:
Net income$6,943 $123,536 
Adjustments to reconcile net income to net cash provided by operating activities
Gain from sale of OSP— (8,396)
Depreciation and amortization3,861 2,876 
Long-lived asset impairment52 352 
Deferred income taxes(1,051)(113,891)
Non-cash interest5,726 5,299 
Gain on earn-out liability
(1,000)— 
Stock-based compensation849 1,940 
Amortization of debt discount and financing costs3,622 3,418 
Other non-cash items affecting earnings309 (202)
Changes in operating assets and liabilities (1):
Receivables181 (37)
Inventories316 871 
Income tax receivable36 (137)
Other current assets1,322 402 
Other assets2,706 4,402 
Ad fund(434)8,363 
Accounts payable(850)(504)
Accrued expenses(3,073)(5,289)
Net lease liabilities(1,534)(2,073)
Other non-current liabilities(4,878)(7,186)
Net cash provided by operating activities:13,103 13,744 
Cash flows from investing activities:
Capital expenditures(1,973)(1,295)
Asset acquisitions, net of cash acquired and certain obligations assumed
— (18,621)
Proceeds from sale of OSP, net of fees— 8,463 
Net cash used in investing activities:(1,973)(11,453)
Cash flows from financing activities:
Borrowings on revolving credit facility— 4,326 
Repayments of revolving credit facility— (13,534)
Repayments of long-term debt(2,740)(1,125)
Debt refinancing fees(262)(1,003)
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 
Taxes paid for shares withheld(161)(75)
Net cash (used in) provided by financing activities:(2,257)3,589 
Effect of exchange rate changes on cash and cash equivalents(83)13 
Increase in cash, cash equivalents, and restricted cash8,790 5,893 
Cash, cash equivalents, and restricted cash:
Beginning of year35,205 29,312 
End of year$43,995 $35,205 
_______________________________________________________________________________
(1)Changes in operating assets and liabilities exclude assets and liabilities sold or acquired.
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SYSTEM-WIDE SAME-STORE SALES (1):
Three Months Ended
June 30, 2026June 30, 2025
ServiceRetailTotalServiceRetailTotal
Supercuts
2.9 %(8.0)%2.6 %3.2 %(7.0)%2.9 %
SmartStyle
(2.1)(19.4)(4.3)(1.7)(17.8)(4.1)
Portfolio Brands
(0.8)(19.8)(1.9)2.2 (5.5)1.8 
Total1.1 %(15.9)%0.1 %2.1 %(11.3)%1.3 %
Twelve Months Ended
June 30, 2026June 30, 2025
ServiceRetailTotalServiceRetailTotal
Supercuts
3.4 %(7.6)%3.0 %1.7 %(9.0)%1.3 %
SmartStyle
(2.1)(19.6)(4.5)(3.8)(18.5)(6.1)
Portfolio Brands
0.9 (12.1)0.1 (0.2)(7.7)(0.6)
Total1.8 %(13.7)%0.9 %0.3 %(12.9)%(0.6)%
_______________________________________________________________________________
(1)System-wide same-store sales are calculated as the total change in sales for system-wide franchise and company-owned locations that were open on a specific day of the week during the current period and the corresponding prior period. Quarterly and year-to-date system-wide same-store sales are the sum of the system-wide same-store sales computed on a daily basis. Franchise salons that do not report daily sales are excluded from same-store sales. System-wide same-store sales are calculated in local currencies to remove foreign currency fluctuations from the calculation.
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REGIS CORPORATION
System-Wide Location Counts
June 30,
20262025
FRANCHISE SALONS:
Supercuts
1,634 1,711 
SmartStyle/Cost Cutters in Walmart stores
984 1,049 
Portfolio Brands
763 816 
Total North American salons
3,381 3,576 
Total International salons (1)
67 71 
Total franchise salons
3,448 3,647 
as a percent of total franchise and company-owned salons
92.9 %92.5 %
COMPANY-OWNED SALONS:
Supercuts
95 100 
Portfolio Brands
169 194 
Total company-owned salons
264 294 
as a percent of total franchise and company-owned salons
7.1 %7.5 %
Total franchise and company-owned salons3,712 3,941 
_______________________________________________________________________________
(1)Canadian and Puerto Rican salons are included in the North American salon totals.
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Non-GAAP Reconciliations:
This press release includes a presentation of operating income excluding certain non-cash charges, Adjusted EBITDA, Franchise Adjusted EBITDA, Company-owned Adjusted EBITDA, and adjusted franchise revenue, which are non-GAAP measures. The non-GAAP measures are financial measures that do not reflect United States Generally Accepted Accounting Principles (GAAP). We believe our presentation of the non-GAAP measures provides meaningful insight into our ongoing operating performance and a supplemental perspective of our results of operations. Presentation of the non-GAAP measures allows investors to review our core ongoing operating performance from the same perspective as management and the Board of Directors. These non-GAAP financial measures provide investors an enhanced understanding of our operations, facilitate investors' analyses and comparisons of our current and past results of operations and provide insight into the prospects of our future performance. We also believe the non-GAAP measures are useful to investors because they provide supplemental information that research analysts frequently use to analyze financial performance.
Items impacting comparability are not defined terms within U.S. GAAP. Therefore, our non-GAAP financial information may not be comparable to similarly titled measures reported by other companies. We determine the items to consider as "items impacting comparability" based on how management views our business, makes financial, operating and planning decisions and evaluates the Company's ongoing performance.
The reconciliation of U.S. GAAP operating income to non-GAAP operating income excluding certain non-cash charges is included in the release.
The following items have been excluded from our non-GAAP Adjusted EBITDA results: stock-based compensation expense, discontinued operations, one-time professional fees and settlements, severance expense, the benefit from lease liability decreases in excess of previously impaired right of use asset, lease termination fees, and asset retirement obligation costs.
We present adjusted revenue to provide a meaningful Franchise Adjusted EBITDA margin, which removes non-margin revenue from total revenue to arrive at an adjusted margin. Margin is a common metric used by investors, however, the majority of our revenue is offset by equal expense, so it does not contribute to our margin. We remove the non-margin revenue from this metric in order to show a meaningful margin rate.
The method we use to produce non-GAAP results is not in accordance with U.S. GAAP and may differ from methods used by other companies. These non-GAAP results should not be regarded as a substitute for corresponding U.S. GAAP measures but instead should be utilized as a supplemental measure of operating performance in evaluating our business. Non-GAAP measures do have limitations as they do not reflect certain items that may have a material impact upon our reported financial results. As such, these non-GAAP measures should be viewed in conjunction with our financial statements prepared in accordance with U.S. GAAP.
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REGIS CORPORATION
Reconciliation of U.S. GAAP Net Income to Adjusted EBITDA
(Dollars in thousands)
(Unaudited)
Three Months Ended June 30,Twelve Months Ended June 30,
2026202520262025
Reported net income$4,396 $116,494 $6,943 $123,536 
Interest expense5,121 5,471 20,673 20,252 
Income taxes(2,769)(115,406)(1,072)(115,496)
Depreciation and amortization1,634 1,321 4,112 2,966 
Long-lived asset impairment52 — 52 352 
EBITDA$8,434 $7,880 $30,708 $31,610 
Stock-based compensation expense143 (103)849 1,940 
Loss (gain) on discontinued operations— 1,892 — (6,504)
Gain on earn-out liability— — (1,000)— 
Discrete items (1)596 3 2,251 4,529 
Adjusted EBITDA, non-GAAP financial measure$9,173 $9,672 $32,808 $31,575 
_______________________________________________________________________________
(1)Discrete items include one-time professional fees and legal settlements, severance expense, the benefit from lease liability decreases in excess of previously impaired right of use asset, and lease termination fees.

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REGIS CORPORATION
Reconciliation of Franchise Segment Profit to Franchise Adjusted EBITDA
(Dollars in thousands)
(Unaudited)
Three Months Ended June 30,Twelve Months Ended June 30,
2026202520262025
Franchise segment profit$5,612 $6,594 $21,050 $20,152 
Depreciation and amortization185 256795 1,194 
Long-lived asset impairment— — — 352 
Stock-based compensation expense108 (124)814 1,919 
Discrete items (1)323 (212)1,468 2,896 
Other, net (2)135 1,164 1,096 1,849 
Franchise Adjusted EBITDA, non-GAAP financial measure$6,363 $7,678 $25,223 $28,362 
_______________________________________________________________________________
(1)Discrete items include one-time professional fees and legal settlements, severance expense, the benefit from lease liability decreases in excess of previously impaired right of use asset, and lease termination fees.
(2)Other, net includes non-operating income allocated to Franchise Adjusted EBITDA.

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REGIS CORPORATION
Reconciliation of Company-owned Segment Profit (Loss) to Company-owned Adjusted EBITDA
(Dollars in thousands)
(Unaudited)
Three Months Ended June 30,Twelve Months Ended June 30,
2026202520262025
Company-owned segment profit (loss)$1,001 $693 $3,398 $(213)
Depreciation and amortization1,449 1,065 3,317 1,772 
Long-lived asset impairment52 — 52 — 
Stock-based compensation expense35 21 35 21 
Discrete items (1)273 215 783 1,633 
Company-owned Adjusted EBITDA, non-GAAP financial measure$2,810 $1,994 $7,585 $3,213 
_______________________________________________________________________________
(1)Discrete items include one-time professional fees and legal settlements, severance expense, the benefit from lease liability decreases in excess of previously impaired right of use asset, and lease termination fees.

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REGIS CORPORATION
Reconciliation of Reported Franchise Adjusted EBITDA as a Percent of GAAP Franchise Revenue
to Franchise Adjusted EBITDA as a Percent of Adjusted Franchise Revenue
(Dollars in thousands)
(Unaudited)
Three Months Ended June 30,Twelve Months Ended June 30,
2026202520262025
Franchise Adjusted EBITDA$6,363 $7,678 $25,223 $28,362 
GAAP franchise revenue36,181 39,855 146,163 166,403 
Franchise Adjusted EBITDA as a percent of GAAP franchise revenue17.6 %19.3 %17.3 %17.0 %
Non-margin revenue adjustments:
Franchise rental income$(15,346)$(18,075)$(62,943)$(76,599)
Advertising fund contributions(5,306)(5,590)(21,392)(21,924)
Adjusted franchise revenue$15,529 $16,190 $61,828 $67,880 
Franchise Adjusted EBITDA as a percent of adjusted franchise revenue41.0 %47.4 %40.8 %41.8 %

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REGIS CORPORATION
Reconciliation of Reported Net Income to Adjusted Net Income
(Dollars in thousands)
(Unaudited)

  Three Months Ended June 30,Twelve Months Ended June 30,
2026202520262025
Reported net income$4,396 $116,494 $6,943 $123,536 
Stock-based compensation, net of tax143 (103)1,265 1,940 
Long lived asset impairment52 — 52 352 
Discontinued operations— 1,892 — (6,504)
Gain on earn-out liability, net of tax— — (780)— 
Discrete items (1)(1,558)(116,261)302 (111,687)
Adjusted net income$3,033 $2,022 $7,782 $7,637 
_______________________________________________________________________________
(1)Discrete items include one-time professional fees and legal settlements, severance expense, the benefit from lease liability decreases in excess of previously impaired right of use asset, lease termination fees, asset retirement obligation costs, and deferred tax impacts. In the three and twelve months ended June 30, 2025, the partial release of valuation allowance of $(116.3) million is also included in discrete items.

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REGIS CORPORATION
Reconciliation of Reported Diluted Earnings Per Share to Adjusted Diluted Earnings Per Share
(Unaudited)

  Three Months Ended June 30,Twelve Months Ended June 30,
2026202520262025
Reported diluted earnings per share$1.51 $42.58 $2.41 $46.10 
Stock compensation0.05 (0.04)0.44 0.72 
Long lived asset impairment0.02 — 0.02 0.13 
Discontinued operations— 0.69 — (2.43)
Gain on earn-out liability— — (0.27)— 
Discrete items (1)(0.54)(42.49)0.10 (41.67)
Adjusted diluted earnings per share$1.04 $0.74 $2.70 $2.85 
_______________________________________________________________________________
(1)Discrete items include partial release of valuation allowance of $(42.51) and $(43.40) in the three and twelve months ended June 30, 2025, respectively, as well as one-time professional fees and legal settlements, severance expense, the benefit from lease liability decreases in excess of previously impaired right of use asset, lease termination fees and asset retirement obligation costs, and deferred tax impacts.

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REGIS CORPORATION
Reconciliation of Reported General and Administrative Expenses to General and Administrative Expenses Used to Calculate Adjusted EBITDA
(Dollars in thousands)
(Unaudited)

Three Months Ended June 30,Twelve Months Ended June 30,
2026202520262025
Reported general and administrative$10,455 $10,340 $42,045 $46,764 
Discrete general and administrative (1)(524)(29)(1,728)(4,614)
Stock-based compensation(143)103 (849)(1,940)
Adjusted general and administrative$9,788 $10,414 $39,468 $40,210 
_______________________________________________________________________________
(1)Discrete items include one-time professional fees and legal settlements and severance expense.


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