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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