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Arhaus (ARHS) investor relations material
Arhaus Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Achieved record Q3 net revenue of $345 million, up 8% year-over-year, driven by showroom expansion and strong demand from high-end clients; net and comprehensive income rose 23.1% to $12.2 million, with adjusted EBITDA up 35.2% to $31.2 million.
Comparable growth was 4.1% for the quarter and 4.5% for the nine months, with demand comparable growth at 7.4% in Q3.
September marked the highest total demand month in company history, fueled by new product launches and strong performance in upholstery and customization.
Expanded showroom footprint, including the largest showroom in Pasadena, CA, and the first Montana showroom in Bozeman, with 103 showrooms in operation as of September 30, 2025.
Remains debt-free with $262 million in cash and strong liquidity.
Financial highlights
Gross profit for Q3 was $133.4 million, up 8.4% year-over-year; gross margin for the nine months was $397.2 million (39.2% of net revenue), flat year-over-year.
SG&A expenses grew 4.1% to $117 million in Q3, with SG&A as a percentage of revenue at 32.4% for the nine months.
Net income reached $12.2 million in Q3, up 23.1% year-over-year; net income for the nine months was $52.2 million.
Adjusted EBITDA was $31.2 million in Q3 (9.1% margin), and $110.1 million for the nine months (10.9% margin).
Net merchandising inventory increased 10.7% to $329 million since year-end 2024.
Outlook and guidance
Full-year 2025 net revenue expected between $1.35B and $1.38B (+6.2%-8.6% YoY), with comparable growth flat to +2.5%.
Net income guidance for 2025 is $58M-$68M; adjusted EBITDA $135M-$145M.
Q4 2025 net revenue expected between $336M and $366M, with net income of $6M-$16M.
Tariff impact for 2025 estimated at $12M, rising to $50M-$60M in 2026, net of mitigation but not pricing actions.
Management expects operating cash flows to be sufficient for working capital and capital needs for at least the next 12 months.
Showroom project mix: new vs. relocations?
Q4 comparable growth outlook rationale?
Inventory and client deposit trends?
Detail 2026 tariff offset strategy
How will digital transformation remediate MWs?
Evolving store model: average cost and ramp?
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Morgan Stanley Global Consumer & Retail Conference 20252 Dec, 2025
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Frequently asked questions
Arhaus Inc is a retailer of premium home furnishings offering furniture, lighting, rugs, and home décor. The company sells products through its retail stores, e-commerce platform, and in-home design services across the United States. The company is headquartered in Boston Heights, Ohio, and its shares are listed on the NASDAQ.
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