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About MiniLuxe Holding

MiniLuxe Holding (TSXV:RSE.P) is a capital pool company .

MiniLuxe Holding Headquarter Location

Boston, Massachusetts,

United States

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Latest MiniLuxe Holding News

MINILUXE REPORTS FINANCIAL RESULTS FOR THE FIRST QUARTER 2022

May 25, 2022

Author of the article: We apologize, but this video has failed to load. Try refreshing your browser, or Not for distribution to U.S. news wire services or dissemination in the United States. Toronto, Ontario, May 24, 2022 (GLOBE NEWSWIRE) — MiniLuxe Holding Corp. (TSXV: MNLX) today announced its financial results for the 13 weeks ended March 27, 2022 (“Q1 2022”). The fiscal year of MiniLuxe is a 52-week reporting cycle ending on the Sunday closest to December 31, which periodically necessitates a fiscal year of 53 weeks. All of the fiscal years referred to in this release consist of 52 week periods and all quarters referred to in this release consist of 13 week periods. Unless otherwise specified, all amounts are reported in U.S. dollars. Advertisement 2 Article content MiniLuxe is pleased to report total revenue of $4.4M in Q1 2022, a 70% increase over total revenue in the 13 weeks ended March 28, 2021 (“Q1 2021”). Gross profit increased by over 50% from $1.2M in Q1 2021 to $1.9M in Q1 2022. This performance was achieved despite COVID-related disruptions resulting from the Omicron variant and reduced operating hours throughout the first quarter of 2022 (relative to normal full levels of operating hours and station availability). MiniLuxe continues to set the standard for health, hygiene, and fair labor practices across the nail and waxing industry. MiniLuxe aspires to be the leading talent empowerment platform for nail designers and waxing specialists to service and meet clients anywhere at anytime, including across MiniLuxe’s company-owned fleet and partner channels. New SG&A and capex investments in the first quarter have been deployed to continue strengthening growth quality in the existing base fleet while accelerating key growth initiatives in MiniLuxe product, the digital-first platform, talent acquisition strategies, and MiniLuxe Anywhere (off premises services). Advertisement 3 Article content Year-over-year Q1 revenue growth v. Q1 2019 (a pre-pandemic year) highlights strong continued momentum from increasing COVID-19 vaccination rates, efficient and agile operational practices, and growth in clean self-care services. Throughout the pandemic, MiniLuxe’s mission of providing super-hygienic and ethical nail and waxing treatments resonated with consumers and has continued to do so post pandemic in Q1 2022. As demand resurges, recruitment and deployment of certified nail designers and waxing specialists remains the focal point of the business. “We are thrilled to maintain strong revenue growth through the first quarter alongside strong gross profit momentum. As demand continues to outstrip supply, we are working hard on initiatives to accelerate the pace of talent acquisition and expand our brand to new geographies that have high concentrations of talent supply and where we believe our product will also experience rapid consumer uptake,” said Tony Tjan, Chairman and Co-founder of MiniLuxe. Advertisement 6 Article content “We are proud to continue the momentum of our year-over-year growth numbers. MiniLuxe has continued to hit new key metrics records and has seen an increase in digital app usage. MiniLuxe Anywhere initiatives including implementing a new leader to spearhead the effort and launching pilots across two geographies bode well for expanded growth and allow for more client touchpoints to experience the MiniLuxe brand,” noted Zoe Krislock, CEO of MiniLuxe. Q1 2022 Results Selected Financial Measures MiniLuxe notes a change in accounting policy to more accurately reflect revenue generated from talent and product revenue streams to more align with how management analyzes the Company. The change has been retrospectively applied and does not have any effect on revenue recognition principles utilized or total overall revenue recognized. Advertisement 7 Article content Non-IFRS Measures and Reconciliation of Non-IFRS Measures This press release references certain non-IFRS measures used by management. These measures are not recognized measures under International Financial Reporting Standards (“IFRS”), do not have a standardized meaning prescribed by IFRS, and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company’s results of operations from management’s perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. The non-IFRS measures referred to in this press release are “Adjusted EBITDA” and “Fleet Adjusted EBITDA”. Advertisement 10 Article content Adjusted EBITDA Adjusted EBITDA is used by management as a supplemental measure to review and assess operating performance. Management believes Adjusted EBITDA most accurately reflects the commercial reality of the Company’s operations on an ongoing basis by adding back non-cash expenses. Additionally, the rent-related adjustments ensure that studio-related expenses align with revenue generated over the corresponding time periods. Adjusted EBITDA is calculated by adding back fixed asset depreciation, right-of-use asset depreciation under IFRS 16, asset disposal, and share-based compensation expense to IFRS operating income, then deducting straight-line rent expenses2 net of lease abatements. IFRS operating income is revenue less cost of sales (gross profit), additionally adjusted for general and administrative expenses, stock listing expense, and depreciation and amortization expense. Advertisement 11 Article content 1 Please refer to “Non-IFRS Measures and Reconciliation of Non-IFRS Measures” sections of this press release. 2 Straight-line rent expense for a given payment period is calculated by dividing the sum of all payments over the life of the lease (the figure used in the present value calculation of the right-of-use asset) by the number of payment periods (typically months). This number is then annualized by adding the rent expenses calculated for the payment periods that comprise each fiscal year. For leases signed mid-year, the total straight-line rent expense calculation applies the new lease terms only to the payment periods after the signing of the new lease. Share this article in your social network Share this Story: MINILUXE REPORTS FINANCIAL RESULTS FOR THE FIRST QUARTER 2022

MiniLuxe Holding Acquisitions

1 Acquisition

MiniLuxe Holding acquired 1 company. Their latest acquisition was MiniLuxe on December 06, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

12/6/2021

Other

$99M

$57.4M

Reverse Merger

1

Date

12/6/2021

Investment Stage

Other

Companies

Valuation

$99M

Total Funding

$57.4M

Note

Reverse Merger

Sources

1

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