Rci Hospitality Holdings, Inc. · NASDAQ:RICK
Rci Hospitality — Q1 2026 Earnings Presentation
27 slides from Rci Hospitality's earnings presentation, May 7, 2026
Slide 1: Building a portfolio of well-managed, high cash-flowing nightclubs and sports-bar restaurants
Building a portfolio of well-managed, high cash-flowing nightclubs and sports-bar restaurants NASDAQ: RICK | 1Q26 Conference Call | May 7, 2026 | www.rcihospitality.com | @RCIHHinc
Slide 2: Today's Speakers
Today’s Speakers Travis Reese Albert Molina Interim President & CEO Interim CFO RCI Hospitality Holdings, Inc. RCI Hospitality Holdings, Inc. 2
Slide 3: X Spaces Instructions
X Spaces Instructions • Log in to: X (formerly Twitter) • Select this X Space: https://x.com/i/spaces/1qxvvkXrjaqxB Or • To ask a question during Q&A: You will need to join the Space with a mobile phone • To listen only: You can join the Space with a personal computer 3
Slide 4: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, among other things, statements regarding plans, objectives, goals, strategies, future events or performance and under
Slide 5: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to our financial information presented in accordance with GAAP, management uses certain non-GAAP financial measures, within the meaning of the SEC Regulation G, to clarify and enhance understanding of past performance and prospects for the future. Generally, a
Slide 6: Key Takeaways
Key Takeaways • Nightclubs: Revenues continued to be fairly stable, with contributions from new venues offsetting same-store performance and the closure of underperforming locations, despite government shutdown 1Q26 Results • Bombshells: Revenues from newly opened locations mostly offset the same-st
Slide 7: Summary Results
Summary Results Summary Financials (in millions, except EPS) 1Q26 1Q25 Total revenues $70.8 $71.5 EPS $(0.57) $1.01 Non-GAAP EPS* $0.74 $0.80 Net cash provided by operating activities $7.8 $13.3 Free cash flow* $6.7 $12.1 Net income (loss) attributable to RCIHH common stockholders $(4.7) $9.0 Adjust
Slide 8: Nightclubs Segment
Nightclubs Segment Total Revenues ($M) Operating Margin As % of Segment Revenues $62.8 $62.3 $62.3 GAAP Non-GAAP $61.0 $61.7 $60.9 $60.6 $59.4 40% $57.5 35% 30% 25% 20% 15% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 1Q26 vs. 1Q25 ($M) Locations Contribu
Slide 9: Bombshells Segment
Bombshells Segment Total Revenues ($M) Operating Margin As % of Segment Revenues $13.1 GAAP Non-GAAP $12.7 $12.8 $11.9 25% $9.6 $9.4 $8.6 $8.4 —% $8.2 (25)% (50)% (75)% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 1Q26 vs. 1Q25 ($M) Locations Contributing
Slide 10: Corporate Segment
Corporate Segment Expense ($M) Expense Margin As % of Total Revenues GAAP Non-GAAP GAAP Non-GAAP $15.4 25% $15.0 20% $8.8 $8.7 15% $7.1 $7.2 $7.1 $7.4 $6.8 $8.4 $8.3 $5.5 $7.0 10% $6.6 $6.3 $6.4 $6.6 $5.4 5% —% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26
Slide 11: GAAP Disclosure ($M)
GAAP Disclosure ($M) Quarter 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Operating income (loss) $13.2 $4.7 $(2.5) $3.5 $13.9 $8.2 $8.7 $(0.5) $11.0 Net cash provided by operating activities $13.6 $10.8 $15.8 $15.7 $13.3 $8.5 $13.8 $13.7 $7.8 Net income (loss) $7.2 $0.8 $(5.2) $0.2 $9.1 $3.2 $4.1 $
Slide 12: Cash, FCF & Adjusted EBITDA ($M)
Cash, FCF & Adjusted EBITDA ($M) Cash As % of Total Revenues Adj. EBITDA Margin FCF Margin $34.9 $34.7 $33.7 $32.4 $32.7 $29.3 26% $28.6 24% 24% 24% 22% 22% 22% 22% $21.2 $20.0 18% 18% 19% 18% 17% 17% 9% 12% 11% 10% 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 1Q24 2Q24
Slide 13: Debt Metrics
Debt Metrics Debt, Net of Loan Costs ($M) Debt Maturities at 12/31/25 ($M) Amortization Schedule Non-Realty Balloon Realty Balloon $256.4 $245.4 $238.2 $241.5 $241.3 $234.1 $231.9 $235.5 $235.8 $6.9 $2.7 $7.4 $6.8 $2.5 $27.7 $24.3 $18.2 $17.5 $15.6 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6
Slide 14: Capital Allocation Strategy
Capital Allocation Strategy Notes Share • Targeted % Buybacks: annual use of ~40% FCF FY25-29 • Strategy excludes completion of club and restaurant Share projects already Buybacks, Club in development Debt • We may deviate Acquisitions Reduction, from this ~40% strategy if other Dividends strategic
Slide 15: Back to Basics 5-Year Plan (FY25-29) Summary
Back to Basics 5-Year Plan (FY25-29) Summary* • Nightclubs – focus on core business operations and new acquisitions Operations • Bombshells – improve performance and finish the remaining unit under development • We expect to generate $250M+ of cumulative FCF over the next 5 years Capital – 40% of FC
Slide 16: Plan Update
Plan Update Nightclubs • Total sales picked up from 1Q26 to 2Q26 with sequential improvement in SSS • Working to expand margins at newly acquired and opened locations Bombshells • "Pre-Game & Party All in One" sports bar concept revitalized 2Q26 SSS at test location in Houston • Rolling out the conc
Slide 17: Appendix
RCI HOSPITALITY HOLDINGS INC Appendix
Slide 18: Long-Term Performance
Long-Term Performance Fiscal Year ($M) 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10-Yr CAGR Total revenues $135.4 $134.9 $144.9 $165.7 $181.1 $132.3 $195.3 $267.6 $293.8 $295.6 $279.4 7.5 % Adjusted EBITDA $34.1 $34.5 $37.3 $44.4 $46.2 $22.4 $60.2 $86.7 $85.0 $72.6 $52.6 4.4 % % of reve
Slide 19: Debt Analysis (at 12/31/25, $M)
Debt Analysis (at 12/31/25, $M) Total of $258.7* Weighted Average Interest Rate (WAIR): 7.16% $63.7 Seller Financing (24.6% of total) Secured by the respective clubs and real estate to which it applies 5 Baby Dolls-Chicas Locas $16.2 @ 7.0 % 11 Clubs $15.3 @ 6.0 % Scarlett's $9.1 @ 8.0 % $149.3 Secu
Slide 20: Strategic Share Buybacks & Issuance
Strategic Share Buybacks & Issuance Cumulative Value of Shares Repurchased Average Price Shares Used for Fiscal Year or Quarter Shares Value Per Share Used for Shares Per Share Acquisitions Repurchased Acquisitions 2015 225,280 $10.19 225,280 2016 747,081 $9.79 972,361 2017 89,685 $12.25 1,062,046 2
Slide 21: Capital Returned to Shareholders
Capital Returned to Shareholders Shares Purchased Total Cost of Shares ($M) 895,061 $31.8 $9.2 202,630 174,790 $7.8 66,000 75,325 72,739 $2.1 $3.2 $2.9 $3.0 $2.7 37,954 56,875 $1.5 27,265 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Comment Dividend Payme
Slide 22: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (in thousands) Three Months Ended December 31, 2025 December 31, 2024 Reconciliation of GAAP net income (loss) to Adjusted EBITDA Net income (loss) attributable to RCIHH common stockholders $ (4,734) $ 9,024 Income tax expense 1,549 1,847 Interest expense, net 4,2
Slide 23: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (in thousands, except per share and number of shares data) Three Months Ended December 31, 2025 December 31, 2024 Reconciliation of GAAP diluted earnings (loss) per share to non-GAAP diluted earnings per share Diluted shares 8,295,880 8,920,774 GAAP diluted earnin
Slide 24: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (in thousands, except percentage data) Three Months Ended December 31, 2025 December 31, 2024 Reconciliation of GAAP operating margin to non-GAAP operating margin GAAP operating margin 15.6 % 19.5 % Amortization of intangibles 0.9 % 0.8 % Impairment of assets 1.6
Slide 25: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures ($ in thousands) Three Months Ended December 31, 2025 Nightclubs Bombshells Other Corporate Total Income (loss) from operations $ 18,722 $ (139) $ (150) $ (7,397) $ 11,036 Amortization of intangibles 613 — — 2 615 Impairment of assets 1,163 — — — 1,163 Settlement
Slide 26: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures* ($ in thousands) Three Months Ended December 31, 2024 Nightclubs Bombshells Other Corporate Total Income (loss) from operations $ 20,853 $ 1,945 $ (103) $ (8,789) $ 13,906 Amortization of intangibles 574 1 — 5 580 Settlement of lawsuits 179 — — — 179 Stock-based
Slide 27: Contact Information
Contact Information Corporate Office 10737 Cutten Road Houston, TX 77066 Phone: (281) 397-6730 Investor Relations Gary Fishman (gfishman@pondel.com) Michael Wichman (mwichman@pondel.com) Phone: (212) 883-0655 IR Website www.rcihospitality.com Nasdaq: RICK 27
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