Soho House Membership Revenue Tops Analyst Estimates in Quarter

Soho House & Co Inc.’s membership revenue beat expectations as it posted a loss, signaling a years-long pursuit of growth over profit may be starting to bear fruit.

Membership revenue in the first quarter came in at $100.2 million, according to a statement Friday, topping estimates of $97.1 million. The record wait list, currently at 102,000, helped boost membership 17% from this time last year.

The company reported a net loss of $46 million on sales of $263.1 million, compared with analysts’ expectations of a $46.4 million loss on sales of $262.6 million.

Soho House recently expanded into ...