v3.26.1
Segment Information
 9 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company, through its subsidiaries, owns and operates adult nightclubs and Bombshells Restaurants and Bars. The Company has identified such segments based on how the chief operating decision maker assigns management responsibility; how financial information is regularly reviewed; the nature of the Company’s products, services, and costs; regulatory environments; and how resources are allocated. There are no major distinctions in geographical areas served as all operations are in the United States. The Company's chief operating decision maker ("CODM") is its chief executive officer. The Company measures segment profit (loss) as income (loss) from operations. Segment assets are those assets controlled by each reportable segment. The Other category below includes our media and energy drink divisions that are not significant to the consolidated financial statements.
In adopting ASU 2023-07, we recast one of our shared-services subsidiaries from Other to Corporate. We also recast three previously planned and previously reported casino-related subsidiaries classified in Other to Nightclubs and Bombshells. We reclassified certain prior year segment disclosures to conform to current year presentation.
4. Segment Information—continued
Below is the financial information (in thousands) related to the Company’s reportable segments as provided to the CODM:
Three Months Ended June 30, 2026Three Months Ended June 30, 2025
NightclubsBombshellsTotalNightclubsBombshellsTotal
Revenues
Third party$62,981 $10,793 $73,774 $62,336 $8,609 $70,945 
Intersegment1,467 — 1,467 1,154 — 1,154 
64,448 10,793 75,241 63,490 8,609 72,099 
Reconciliation of revenue
Other revenues, including intersegment243 258 
Elimination of intersegment revenues(1,545)(1,212)
Total consolidated revenues73,939 71,145 
Less:
Cost of goods sold, including intersegment7,043 2,604 9,647 7,071 2,037 9,108 
Salaries and wages14,651 3,291 17,942 14,276 2,860 17,136 
Selling, general, and administrative, including intersegment18,290 5,012 23,302 17,481 4,266 21,747 
Depreciation and amortization3,393 346 3,739 3,311 314 3,625 
Impairments and other charges (gains), net(31)42 11 2,338 12 2,350 
Other segment items— — — — 5 5 
Segment income (loss)21,102 (502)20,600 19,013 (885)18,128 
Reconciliation of segment income (loss)
Other loss(97)(28)
Interest expense, net(4,368)(3,915)
Elimination of intersegment income(1)(57)
Unallocated corporate overhead(7,503)(9,335)
Consolidated income before income taxes$8,631 $4,793 
Segment capital expenditures$367 $831 $1,198 $1,972 $1,278 $3,250 
Reconciliation to consolidated capital expenditures
Other operating segments— 325 
Unallocated corporate327 106 
Consolidated capital expenditures$1,525 $3,681 
4. Segment Information—continued
Nine Months Ended June 30, 2026Nine Months Ended June 30, 2025
NightclubsBombshellsTotalNightclubsBombshellsTotal
Revenues
Third party$185,565 $27,533 $213,098 $181,601 $26,425 $208,026 
Intersegment4,113 — 4,113 3,287 — 3,287 
189,678 27,533 217,211 184,888 26,425 211,313 
Reconciliation of revenue
Other revenues, including intersegment641 673 
Elimination of intersegment revenues(4,363)(3,482)
Total consolidated revenues213,489 208,504 
Less:
Cost of goods sold, including intersegment20,938 6,655 27,593 20,707 6,211 26,918 
Salaries and wages43,958 8,984 52,942 42,297 8,458 50,755 
Selling, general, and administrative, including intersegment53,532 13,797 67,329 52,427 12,833 65,260 
Depreciation and amortization10,288 1,099 11,387 9,440 996 10,436 
Impairments and other charges (gains), net7,734 138 7,872 3,486 (1,159)2,327 
Other segment items— — — — (974)(974)
Segment income (loss)53,228 (3,140)50,088 56,531 60 56,591 
Reconciliation of segment income (loss)
Other loss(390)(305)
Interest expense, net(13,052)(11,797)
Elimination of intersegment income— (80)
Unallocated corporate overhead(31,732)(24,442)
Consolidated income before income taxes$4,914 $19,967 
Segment capital expenditures$2,300 $2,488 $4,788 $4,218 $6,924 $11,142 
Reconciliation to consolidated capital expenditures
Other operating segments4 762 
Unallocated corporate932 385 
Consolidated capital expenditures$5,724 $12,289 
June 30, 2026September 30, 2025
NightclubsBombshellsTotalNightclubsBombshellsTotal
Segment assets$455,843 $78,502 $534,345 $478,516 $78,877 $557,393 
Reconciliation to consolidated total assets
Other operating segments3,470 3,775 
Unallocated corporate31,845 35,767 
Consolidated total assets$569,660 $596,935 
General corporate overhead includes corporate salaries, health insurance and social security taxes for officers, legal, accounting and information technology employees, corporate taxes and insurance, legal and accounting fees, unallocated self-insurance reserve, depreciation and other corporate costs such as automobile and travel costs. Management considers these to be non-allocable costs for segment purposes.