All reported figures in U.S. Dollars unless otherwise noted
Boston, MA, Aug. 26, 2026 (GLOBE NEWSWIRE) -- MiniLuxe Holding Corp. (TSXV: MNLX) today announced its financial results for the 13 weeks and 26 weeks ended June 28, 2026 ("Q2 2026" and "H1 2026", respectively). The comparative prior year periods are the 13 weeks and 26 weeks ended June 29, 2025.
MiniLuxe is on a mission to make self-care something you can feel good about, starting with your nails. The Company delivers premium nail care in studios known for hospital-grade hygiene, cleaner polishes, and treatments that are better for you and for the people who apply them. But what really sets MiniLuxe apart is its people. In an industry infamous for churn and poor working conditions, MiniLuxe has retained 86 percent of its hourly workforce on average over each of the last three years. Team members who stay five years or more earn equity ownership and real career paths, and today more than half of MiniLuxe's nail designers have reached that milestone.
The second quarter of 2026 was another YoY positive growth quarter and marks the 14th consecutive quarters of improvement in its unit economic model across 25 studios1, the Company is now focused on scaling through strategic acquisitions and most importantly an expanding network of operating and franchise partners.
MiniLuxe's Focus and Key Strategic Pillars in Q2 2026
The Company continues to make meaningful progress across each of these core strategic pillars in the second quarter of fiscal 2026:
- Attract, develop and retain high-quality nail designer talent;
- Drive growth through operating partners and franchise partners;
- Accelerate overall studio-level profitability and drive overall Company profitability;
- Strengthen balance sheet with sufficient capital to execute against growth plans
Highlights of Business Performance
- System sales grew 11.7% year over year to $8.60M in Q2 2026 and 10.0% to $15.40M for H1 2026. System sales include the gross revenue of franchised and joint-venture studios before royalty.
- Studio-level profitability continued to compound: For Q2 2026, the studio cash contribution was over 11% YoY at $1.1M against approximately $0.99M in Q2 2025 - the 14th consecutive quarter of year-over-year improvement in studio unit economics.
- The total Company net revenue in Q2 2026 grew 3% YoY to $7.7M in Q2 2026 (Q2 2025: $7.5M), bringing year-to-date (H1 2026) revenue to $14.1M, up 3% versus H1 2025 ($13.6M).
- Operating loss was essentially unchanged at $(1.19)M in Q2 2026 against $(1.20)M in Q2 2025, and narrowed to $(2.9)M for H1 2026 from $(3.2)M for H1 2025, an improvement of 10% year-to-date.
- Full Company Adjusted EBITDA was $(1.1)M in Q2 2026 versus $(0.9)M in Q2 2025, and $(2.7)M for H1 2026 versus $(2.5)M for H1 2025.
- Inside the second quarter of 2026, the Company meaningfully strengthened its balance sheet as it closed on a $5.1M of a non-brokered private placement at over a 100% premium to the then trading price.
- For the end of Q2 2026 (June 28, 2026), cash and cash equivalents were at $6.1M, up 37% from $4.5M at December 28, 2025.
The Company continued to expand through operating partners and franchise partners during the quarter. The Lakewood (Dallas-Fort Worth) studio reopened as a MiniLuxe studio in June 5, 2026; the Mansfield, Massachusetts joint-venture studio opened on July 30, 2026; the franchised studios in Brookline, Massachusetts and Water Street continued to perform ahead of expectations, with the franchise channel the fastest-growing part of the studio base year over year.
Additionally, the Company completed the private placement it had disclosed as a subsequent event in its Q1 2026 results, contributing approximately $5.1M of net proceeds recognized within H1 2026 financing activities. Combined with the Flow Capital term loan facility discussed in the Q1 2026 release, this strengthened the Company's cash position and returned working capital to positive territory as of June 28, 2026.
Management Commentary
- The second quarter showed continued positive compounding of our studio unit economics and profitability. With fleet-level profitability up 45%, this represents the fourteenth consecutive quarter of year-over-year improvement in studio unit economics from a revenue or cash contribution standpoint," said Tony Tjan, Co-founder and Chief Executive Officer. "While we lost a little margin by deliberately carrying nail designer hours in preparation for the seasonally higher demand in 2H of the year, overall, we see further opportunities to elevate our unit economics, especially using AI-enabled analysis to support our outstanding team members" added Mr. Tjan.
Subsequent Events and 2026 Outlook
- Q2 2026 MD&A discloses the July 21, 2026 issuance of 1,428,571 Class A Subordinate Voting Shares in settlement of a third-party obligation.
- Substantial Issuer Bid (SIB). On August 20, 2026 the Company commenced a substantial issuer bid to purchase for cancellation up to C$6.0 million of its Class A Subordinate Voting Shares by way of a modified Dutch auction, at a price of not less than C$0.40 and not more than C$0.48 per share. The bid expires on September 24, 2026, subject to its terms and applicable securities laws. The SIB is an indication of management's belief in a higher intrinsic value of its stock price and its long-term value creation potential.
- Acquisition of Belle Vista Nail Studio. In late August 2026 the Company agreed to acquire the business of Belle Vista Nail Studio in Burlington, Massachusetts, to be operated through a newly formed limited liability company in which the Company holds a 51% controlling interest, with the existing owner retaining 49% as an operating partner. MiniLuxe will convert this studio into its own brand in 2027.
Q2 2026 and H1 2026 Results
Selected Financial Measures
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Results of Operations
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Cash Flows - Year-to-Date (26 Weeks Ended)
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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 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 measure referred to in this press release is "Adjusted EBITDA".
Adjusted EBITDA
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 amortization under IFRS 16, asset disposal, and share-based compensation expense to IFRS operating income, then deducting cash rent expenses net of lease abatements. When relevant, we will add back adjustments made to the P&L as a result of accounting policies that are non-cash or do not have operational impacts (for example, inventory adjustments or deferred revenue). IFRS operating income is revenue less cost of sales (gross profit), additionally adjusted for general and administrative expenses, and depreciation and amortization expenses.
The following tables reconcile Adjusted EBITDA to net loss for the periods indicated:
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About MiniLuxe
MiniLuxe Holding Corp. is a Boston-based lifestyle brand and talent empowerment platform transforming the fragmented beauty and self-care industry through its premium service brand, proprietary products, and operating platform. For more than 15 years, MiniLuxe has delivered high-quality nail care, waxing, and esthetic services through a growing network of company-owned, joint veThe nture, and partner-operated studios, completing more than 5 million services to date.
Company is recognized for its elevated service experience, rigorous hygiene standards, non-toxic products, modern studio design, and commitment to socially responsible labor practices. MiniLuxe's differentiated model is designed to create better outcomes for both clients and beauty professionals through career development, economic mobility, equity participation, and future ownership opportunities.
MiniLuxe is expanding its reach through a multi-pronged growth strategy that includes new studio development, franchising, and the acquisition and conversion of existing nail salons. By combining a trusted consumer brand, proprietary products, operating expertise, and technology-enabled systems, the Company offers entrepreneurs and operators the opportunity to partner with a proven platform while preserving a strong focus on talent development and service excellence.
Through its growing studio network and product portfolio, MiniLuxe seeks to build the leading trusted brand in beauty and self-care while generating long-term value for clients, talent, and shareholders.
For further information
Christine Mastrangelo
Investor Relations, MiniLuxe Holding Corp.
cmastrangelo@MiniLuxe.com
MiniLuxe.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") concerning the Company and its subsidiaries within the meaning of applicable securities laws. Forward-looking information may relate to the future financial outlook and anticipated events or results of the Company and may include information regarding the Company's financial position, business strategy, growth strategies, acquisition prospects and plans, addressable markets, budgets, operations, financial results, taxes, dividend policy, plans and objectives. Particularly, information regarding the Company's expectations of future results, performance, achievements, prospects or opportunities or the markets in which the Company operates is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects", "budgets", "scheduled", "estimates", "outlook", "forecasts", "projects", "prospects", "strategy", "intends", "anticipates", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will" occur. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances.
Many factors could cause the Company's actual results, performance, or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking information, including, without limitation, those listed in the "Risk Factors" section of the Company's filing statement dated November 9, 2021. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance, or achievements could vary materially from those expressed or implied by the forward-looking statements contained in this press release.
Forward-looking information, by its nature, is based on the Company's opinions, estimates and assumptions in light of management's experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company currently believes are appropriate and reasonable in the circumstances. Those factors should not be construed as exhaustive. Despite a careful process to prepare and review forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking information. Although the Company bases its forward-looking information on assumptions that it believes were reasonable when made, which include, but are not limited to, assumptions with respect to the Company's future growth potential, results of operations, future prospects and opportunities, execution of the Company's business strategy, there being no material variations in the current tax and regulatory environments, future levels of indebtedness and current economic conditions remaining unchanged, the Company cautions readers that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and the development of the industry in which the Company operates may differ materially from the forward-looking statements contained in this press release.
1 23 are Company-owned and 2 are franchises.
