Arhaus, Inc. ARHS
Founded in 1986 by John Reed, our Chief Executive Officer ("CEO"), and his father, Arhaus, Inc. ("Arhaus", "Company", "we", "us" or "our") is a premium home furnishings brand built on a simple idea: furniture and décor should be responsibly sourced, lovingly made, and built to last. We operate a vertically integrated model, designing and sourcing products directly from skilled artisans and carefully selected manufacturing vendors around the world, including domestic upholstery production at our own North Carolina manufacturing facility. This approach enables us to offer a highly exclusive and customizable assortment of heirloom-quality furniture and décor designed to be used and enjoyed for generations. Design is at the core of everything Arhaus does. With more than 100 Showroom locations across the United States, our integrated omni-channel model connects every client touchpoint, from Showroom and interior design to eCommerce and catalog, allowing us to meet clients wherever and however they choose to shop while delivering a highly personalized client-first experience from discovery through delivery. On November 4, 2021, the Company completed its initial public offering ("IPO") of its Class A common stock, which is traded on the Nasdaq Global Select Market (the "Nasdaq") under the symbol "ARHS".
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.38B | $1.27B | $1.29B | $1.23B | $796.9M | $507.4M | $494.5M | — |
| Cost of revenue | $842.8M | $769.9M | $747.3M | $703.9M | $467.0M | $307.9M | $318.6M | — |
| Gross profit | $536.4M | $501.2M | $540.4M | $525.1M | $329.9M | $199.5M | $176.0M | — |
| SG&A | $447.4M | $415.4M | $376.1M | $340.4M | $296.1M | $168.6M | $146.3M | — |
| Operating income | $88.9M | $87.0M | $164.3M | $184.7M | $33.4M | $30.9M | $29.7M | — |
| Interest expense | — | — | $3.4M | $3.4M | $5.4M | $13.1M | $13.4M | — |
| Pre-tax income | $92.0M | $90.9M | $168.7M | $182.6M | $26.8M | $17.8M | $16.2M | — |
| Income tax | $24.7M | $22.4M | $43.5M | $45.9M | $10.1M | $783.0K | $368.0K | — |
| Net income | $67.3M | $68.5M | $125.2M | $136.6M | $36.9M | $6.1M | $7.5M | — |
| EPS, basic | 0.48 | 0.49 | 0.90 | 0.99 | 0.18 | 0.03 | 0.04 | — |
| EPS, diluted | 0.48 | 0.49 | 0.89 | 0.98 | 0.18 | 0.03 | 0.04 | — |
| Shares, diluted (wtd. avg.) | $141.4M | $140.7M | $140.1M | $139.6M | $119.5M | $112.1M | $112.1M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $253.4M | $197.5M | $226.3M | $152.5M | $130.9M | $64.0M | $20.1M | $24.2M |
| Receivables | $663.0K | $1.3M | $2.4M | $1.7M | $228.0K | $600.0K | — | — |
| Inventory | $338.8M | $297.0M | $254.3M | $286.4M | $208.3M | $108.0M | — | — |
| Total current assets | $621.4M | $531.0M | $509.3M | $449.8M | $430.1M | $192.6M | — | — |
| Property, plant and equipment | $316.2M | $282.5M | $220.2M | $120.7M | $111.7M | $117.7M | — | — |
| Goodwill | $11.0M | $11.0M | $11.0M | $11.0M | $11.0M | $11.0M | — | — |
| Total assets | $1.39B | $1.21B | $1.11B | $877.0M | $817.3M | $322.6M | — | — |
| Accounts payable | $78.4M | $68.6M | $63.7M | $62.6M | $51.4M | $29.1M | — | — |
| Total current liabilities | $453.3M | $402.5M | $342.3M | $424.7M | $444.7M | $213.2M | — | — |
| Total liabilities | $976.5M | $862.6M | $764.9M | $753.5M | $730.7M | $357.0M | — | — |
| Retained earnings | $210.4M | $142.9M | $145.3M | $20.1M | -$116.6M | -$28.4M | — | — |
| Total equity | $418.2M | $343.7M | $340.2M | $209.7M | $69.8M | -$34.4M | -$38.0M | -$46.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $136.8M | $147.1M | $168.7M | $77.5M | $139.8M | $148.3M | $20.0M | — |
| Depreciation and amortisation | $46.8M | $39.1M | $29.4M | $24.9M | $23.9M | $17.0M | $16.0M | — |
| Stock-based compensation | $9.2M | $7.6M | $7.9M | $4.3M | $6.4M | $403.0K | $272.0K | — |
| Capital expenditure | $77.9M | $107.4M | $93.4M | $55.7M | $41.5M | $13.0M | $9.9M | — |
| Investing cash flow | -$77.8M | -$99.5M | -$93.1M | -$55.7M | -$41.5M | -$13.0M | -$9.9M | — |
| Financing cash flow | -$3.5M | -$73.0M | -$1.8M | -$177.0K | -$31.5M | -$91.3M | -$14.3M | — |
| Dividends paid | $361.0K | $70.3M | $0 | $0 | — | — | — | — |
| Buybacks | — | — | — | $0 | $0 | $100.0K | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001875444-26-000010.
Others in SIC 5712
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| RH | RH | $2.80B | 23.5x | 8.1% |
| LOVE | Lovesac Co | $244.3M | 59.6x | 2.4% |
| HVT | HAVERTY FURNITURE COMPANIES INC | — | — | 5.0% |
| HTLM | HomesToLife Ltd | — | — | 12.8% |