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SEGMENT INFORMATION (Tables) | 9 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Reportable Operating Segment Salons | The Company's reportable operating segments consisted of the following salons:
|  | March 31, 2025 |  | June 30, 2024
FRANCHISE SALONS: |  |  |  |
Supercuts |  | 1,746 |  |  | 1,946 |
SmartStyle/Cost Cutters in Walmart stores |  | 1,099 |  |  | 1,232 |
Portfolio Brands |  | 836 |  |  | 1,117 |
Total North American salons |  | 3,681 |  |  | 4,295 |
Total International salons (1) |  | 95 |  |  | 96 |
Total franchise salons |  | 3,776 |  |  | 4,391 |
as a percent of total franchise and company-owned salons |  | 92.4 | % |  | 99.6 | %
COMPANY-OWNED SALONS (2): |  |  |  |
Supercuts |  | 104 |  |  | 3 |
SmartStyle/Cost Cutters in Walmart stores |  | — |  |  | 8 |
Portfolio Brands |  | 207 |  |  | 6 |
Total company-owned salons |  | 311 |  |  | 17 |
as a percent of total franchise and company-owned salons |  | 7.6 | % |  | 0.4 | %
Total franchise and company-owned salons |  | 4,087 |  |  | 4,408 |
(1)Canadian and Puerto Rican salons are included in the North American salon totals. (2)Salon counts as of March 31, 2025, include salons acquired as part of the Alline Acquisition. See Note 13 to these unaudited Condensed Consolidated Financial Statements for further details on the transaction.
Schedule of Summarized Financial Information of Reportable Operating Segments | Financial information concerning the Company's reportable operating segments is shown in the table below. Segment information is presented in the same way that the Company internally organizes the business for assessing performance and making decisions regarding allocation of resources. The CODM’s primary measures of segment performance are revenue and segment adjusted EBITDA. Revenue and segment adjusted EBITDA are regularly reviewed by the CODM to make decisions about resources to be allocated to the segments, assess current performance, and forecast future performance. Asset information by segment is not provided to the CODM. Segment adjusted EBITDA is defined as income from continuing operations before interest, income taxes, depreciation, amortization, and impairment. Beginning in fiscal year 2025, management determined that stock-based compensation expenses will be excluded from adjusted EBITDA. This change has been retrospectively applied to all prior periods presented in this report. C onsistent with our internal management reporting, unallocated expenses include certain items impacting comparability. These unallocated items are not defined terms within U.S. GAAP. They are based on how management views the business, makes financial, operating and planning decisions and evaluates the Company's ongoing performance and are not attributable to either segment. Unallocated fees include one-time professional fees and settlements, severance expense, the benefit from lease liability decreases in excess of previously impaired ROU assets, and lease termination fees.
|  | Three Months Ended March 31, |  | Nine Months Ended March 31,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
|  | (Dollars in thousands)
Revenues: |  |  |  |  |  |  |  |
Franchise |  | $ | 38,004 |  |  | $ | 47,857 |  |  | $ | 126,548 |  |  | $ | 148,567 |
Company-owned |  | 18,953 |  |  | 1,324 |  |  | 23,188 |  |  | 5,039 |
Total revenue |  | 56,957 |  |  | 49,181 |  |  | 149,736 |  |  | 153,606 |
Segment adjusted EBITDA: |  |  |  |  |  |  |  |
Franchise |  | 6,282 |  |  | 6,125 |  |  | 20,683 |  |  | 21,346 |
Company-owned |  | 843 |  |  | (773) |  |  | 1,219 |  |  | (1,606) |
Total |  | 7,125 |  |  | 5,352 |  |  | 21,902 |  |  | 19,740 |
Unallocated expenses (1) |  | (611) |  |  | (247) |  |  | (4,525) |  |  | (215) |
Depreciation and amortization |  | (739) |  |  | (1,009) |  |  | (1,645) |  |  | (2,056) |
Long-lived asset impairment |  | — |  |  | — |  |  | (352) |  |  | (170) |
Stock-based compensation |  | (439) |  |  | (310) |  |  | (2,043) |  |  | (1,201) |
Interest expense |  | (5,087) |  |  | (6,153) |  |  | (14,781) |  |  | (18,529) |
Income tax benefit (expense) |  | 1 |  |  | (54) |  |  | 90 |  |  | 201 |
Income from discontinued operations |  | — |  |  | 89 |  |  | 8,396 |  |  | 2,089 |
Total net income (loss) (2) |  | $ | 250 |  |  | $ | (2,332) |  |  | $ | 7,042 |  |  | $ | (141) |
(1)Unallocated expenses for the three and nine months ended March 31, 2025, include severance expenses of $0.4 million and $2.7 million, respectively. (2)Total is a recalculation; line items calculated individually may not sum to total due to rounding.

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