RCI HOSPITALITY HOLDINGS (RICK) Company Report

RCI Hospitality Holdings, Inc. reported combined club and restaurant sales of $70.3 million for the first fiscal quarter ended December 31, 2025, representing a 0.9% decrease year-over-year, with combined same-store sales declining by 7.7%.
Nightclubs sales increased by 0.9% to $61.9 million, primarily due to $4.9 million in sales from five new clubs, which helped offset a 5.8% decline in same-store sales.
Bombshells sales decreased by 12.6% to $8.4 million, with same-store sales down 21.9%, partially mitigated by $1.8 million from two new locations.
Interim President and CEO Travis Reese noted that sales were challenged in October and November due to customer uncertainty stemming from the U.S. government shutdown.
The company is implementing a "Back to Basics Capital Allocation Plan" focused on increasing same-store sales, opening new Bombshells locations, and selling underperforming properties to generate revenue for stock buybacks, debt paydown, acquisitions, and dividends.

2 days ago

8-K

RCI Hospitality Holdings Reports 1Q26 Club & Restaurant Sales

RICK

Earnings

Demand Weakening

Share Buyback

RCI Hospitality Holdings reported combined club and restaurant sales of $70.3 million for the fiscal 2026 first quarter ended December 31, 2025, representing a 0.9% decrease year-over-year, with same-store sales declining 7.7%.
Nightclub sales increased by 0.9% to $61.9 million, primarily due to $4.9 million generated by five new clubs, which offset a 5.8% decline in same-store sales.
Bombshells sales decreased by 12.6% to $8.4 million, largely due to a 21.9% decline in same-store sales and the impact of four underperforming locations divested/closed in 1Q25, despite $1.8 million contributed by two new locations.
Interim President and CEO Travis Reese noted that club and restaurant sales were challenged in October and November 2025 due to customer uncertainty stemming from the U.S. government shutdown, though higher-margin club service revenues increased year-over-year.
The company plans to increase same-store sales, open new Bombshells locations, and sell underperforming properties, with generated cash to be deployed towards stock buybacks, debt paydown, acquisitions, and dividends.

2 days ago

Press Release

RCI Hospitality Holdings, Inc. Reports Preliminary Q4 and FY2025 Results and Non-Timely 10-K Filing

RICK

Earnings

Share Buyback

New Projects/Investments

RCI Hospitality Holdings, Inc. announced it will require additional time to file its Annual Report on Form 10-K for the fiscal year ended September 30, 2025.
The company reported preliminary selected unaudited results, with total revenues of $70.9 million for Q4 2025 and $279.4 million for FY 2025.
RCI repurchased 72,739 common shares for $2.7 million in Q4 2025 and acquired 821,000 shares in Q1 2026, resulting in 7,812,000 shares outstanding as of December 12, 2025.
The company provided an update on its "Back to Basics" 5-Year Capital Allocation Plan, including the opening of Bombshells Lubbock, TX, and a cash-generating partnership in Austin.

Dec 15, 2025, 9:08 PM

8-K

RCI Hospitality Holdings Announces Preliminary 4Q25 & FY25 Results and Delay in Annual Report Filing

RICK

Earnings

Share Buyback

Delisting/Listing Issues

RCI Hospitality Holdings, Inc. (RICK) has filed a non-timely notice for its Annual Report on Form 10-K for the fiscal year ended September 30, 2025, indicating that additional time is needed for its filing.
The company reported preliminary unaudited total revenues of $70.9 million for the fourth quarter of fiscal year 2025 (4Q25) and $279.4 million for the full fiscal year 2025 (FY25).
Net cash provided by operating activities was $13.7 million for 4Q25 and $49.4 million for FY25, with free cash flow of $13.1 million and $45.4 million for the respective periods.
RCI repurchased 72,739 common shares for $2.7 million in 4Q25 and acquired 821,000 shares in 1Q26, resulting in 7,812,000 shares outstanding at December 12, 2025.

Dec 15, 2025, 9:05 PM

Press Release

RCI Hospitality Holdings Announces Leadership Changes

RICK

CEO Change

CFO Change

Management Change

RCI Hospitality Holdings announced leadership changes effective November 28, 2025, with Eric Langan stepping down as President and CEO and Bradley Chhay as CFO.
Travis Reese and Albert Molina have been appointed as interim President/CEO and CFO, respectively, while Langan and Chhay will remain with the company to advise on strategic corporate transactions, financial budgeting, capital allocation, and mergers and acquisitions.
These changes occur amidst a stock decline of over 50% in the past year and a recent 3.1% drop in quarterly sales.
In the most recent quarter, the Bombshells restaurant segment experienced a 21.2% drop in sales, reaching $9.4 million, while the Nightclubs segment saw a 0.4% sales increase.

Nov 28, 2025, 6:41 PM

Morningstar

RCI Hospitality Holdings, Inc. announces stock repurchase and promissory note issuance

RICK

Share Buyback

Debt Issuance

RCI Hospitality Holdings, Inc. (RICK) entered into a Stock Repurchase Agreement on November 21, 2025, to repurchase 821,000 shares of common stock from ADW Capital Partners, L.P..
The total purchase price for the shares was $30,000,000.00.
The payment consisted of $8,000,000 in cash and a $22,000,000.00 two-year unsecured promissory note.
The promissory note bears interest at 12% per annum and is payable in 23 equal monthly payments of $1,000,000, with a final lump sum payment due on November 21, 2027.
In connection with the transaction, Centennial Bank temporarily adjusted the debt service coverage ratio requirement from 1.40X to 1.25X until June 30, 2026.

Nov 25, 2025, 9:11 PM

8-K

RCI Hospitality Holdings Investors Reminded of Lead Plaintiff Deadline in Class Action Lawsuit

RICK

Legal Proceedings

Bragar Eagel & Squire, P.C. has commenced a class action lawsuit on behalf of stockholders of RCI Hospitality Holdings, Inc. (NASDAQ:RICK).
The class period for the RCI Hospitality Holdings lawsuit is from December 15, 2021 to September 16, 2025.
The deadline for stockholders to petition the court to serve as lead plaintiff in the RCI Hospitality Holdings case is November 20, 2025.
The lawsuit alleges that defendants engaged in tax fraud and bribery to conceal it, leading to understated legal risk and materially false/misleading statements about the company's business, operations, and prospects.

Nov 17, 2025, 10:10 PM

Press Release

RCI Hospitality Holdings Reports Q4 and FY2025 Sales and Development Updates

RICK

Earnings

New Projects/Investments

Demand Weakening

RCI Hospitality Holdings, Inc. reported combined total sales of $69.8 million for Q4 2025, representing a 3.1% decrease compared to Q4 2024, with combined same-store sales declining by 6.3%.
For fiscal year 2025, combined total sales were $276.6 million, down 5.5% from FY24, and combined same-store sales decreased by 3.5%.
The company announced the reopening of Dallas Showclub as XTC 2.0 on October 9, 2025, and is in the final stages of negotiating contracts to sell non-income producing and underperforming properties to reduce debt and generate cash.
Other development updates include the planned opening of a new Bombshells in Rowlett, TX, in December, and receiving a critical zoning change for the reconstruction of Baby Dolls Fort Worth.

Oct 9, 2025, 8:04 PM

8-K

RCI Hospitality Holdings, Inc. Issues New 12% Unsecured Promissory Notes and Modifies Existing Debt

RICK

Debt Issuance

On October 1, 2025, RCI Hospitality Holdings, Inc. completed debt modification transactions and issued new 12% unsecured promissory notes.
The company extended the maturity dates for $2,800,000 in existing unsecured promissory notes from seven investors and for an additional $250,000 from two investors, which also included a principal increase.
Additionally, RCI Hospitality Holdings, Inc. issued $3,000,000 in new 12% unsecured promissory notes to three new investors, raising a total of $3,250,000 in new debt financing.
All new and amended notes are Series A 12% Unsecured Promissory Notes, bearing a 12% annual interest rate, with interest-only payments monthly in arrears and a final lump sum principal payment due on October 1, 2028.

Oct 7, 2025, 8:28 PM

8-K

RCI Hospitality Holdings, Inc. and Executives Indicted on Tax and Bribery Charges

RICK

Legal Proceedings

Management Change

RCI Hospitality Holdings, Inc., its Chief Executive Officer Eric Langan, Chief Financial Officer Bradley Chhay, three employees, and three New York City clubs were indicted on September 16, 2025, in New York on state charges.
The indictment alleges conspiracy, bribery, criminal tax fraud, and offering a false instrument for filing, specifically related to the non-payment of sales taxes and bribery of a state sales tax auditor.
The company and the individuals involved deny the allegations and plan to vigorously defend themselves against the charges.
The three New York City clubs involved, Rick's Cabaret, Vivid Cabaret, and Hoops Cabaret and Sports Bar, remain open for business.