Regis Corporation (NYSE:RGS) Q2 2024 Earnings Call Transcript

We do expect to use less cash in the second half of the fiscal year, and management remains committed to continued cash management and returning to cash flow generation. Before wrapping up my remarks, I have a few more items I wanted to highlight. On January 9, Regis’ stock began trading on the NASDAQ. We are pleased to be able to make the move to NASDAQ and to continue trading on a national securities exchange. Additionally, yesterday, we announced that Regis has adopted a tax benefits preservation plan designed to preserve the availability of its NOL carryforwards and certain other tax attributes. Regis has approximately $646 million of U.S. federal NOLs, which represent a valuable asset to the company and are available to offset the company’s current or future taxable income.

The plan is designed to protect shareholder value by mitigating the likelihood of ownership changes that would result in significant limitations on Regis’ ability to use its NOLs or certain other tax attributes to offset current or future taxable income. This concludes my prepared remarks. I would like to thank you for your continued support and interest in Regis. I will turn it back to Biz to wrap up the call.

End of Q&A: Thank you for joining. This will conclude today’s earnings call. If you have any questions about our financial results, please contact Kersten through our Investor Relations e-mail at investorrelations@regiscorp.com. Thank you, and have a great day.