Regis Corporation announced its financial results for the first fiscal quarter ended September 30, 2024, on November 6, 2024. The company reported consolidated revenue of $46.1 million, a decrease of $7.3 million compared to $53.4 million in the prior year quarter.
Operating income for the quarter was $2.1 million, a decline of $5.3 million from $7.4 million in the first quarter of fiscal 2024, primarily due to increased severance costs of $2.3 million and stock-based compensation expense of $1.4 million. The company posted a net loss of $0.9 million, or $(0.36) per diluted share, compared to net income of $1.2 million, or $0.51 per diluted share, in the prior year.
Adjusted EBITDA for the first quarter was $7.6 million, a $0.5 million decrease from $8.1 million in the same period last year. Despite the declines in revenue and operating income, net cash used in operating activities improved by $1.5 million year-over-year, totaling $1.3 million for the quarter.
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