RCI Reports 2Q25 Results: Revenue and Free Cash Flow Decline Amidst Segment Challenges

RICK
October 01, 2025

RCI Hospitality Holdings, Inc. reported its financial results for the fiscal 2025 second quarter ended March 31, 2025. Total revenues decreased to $65.9 million from $72.3 million in the prior year quarter, and for the six months, total revenues decreased by 6.0% to $137.4 million.

GAAP net income increased to $3.2 million from $0.8 million year-over-year, largely due to significantly lower impairment charges of $2.1 million compared to $8.2 million. However, non-GAAP net income decreased to $13.0 million for the six months from $16.5 million, reflecting operational pressures.

The Nightclubs segment revenues declined by 3.1% to $57.5 million, with same-store sales down 3.5%, partly due to severe weather. The Bombshells segment revenues decreased by 35.6% to $8.2 million, with same-store sales down 13.4%, primarily due to the divestiture of five underperforming locations. Consolidated free cash flow decreased by 11.5% to $19.0 million for the six-month period.

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