End of Month December 2025

End-of-Month Operating Update
Texas Pickle Hall | Live Oak

December represents the second full month of operations following initial ramp validation at the Live Oak facility. The objective during this month is not acceleration, but observation under seasonally irregular conditions, with attention to repeat behavior, engagement consistency, and revenue momentum relative to November.

This update reflects operating performance through December 31, 2025.

Seasonal Context

December is historically the least predictable month for indoor recreation businesses due to holidays, travel, and irregular schedules. Conversion behavior typically lags participation, with demand accumulating ahead of January rather than converting immediately.

December performance is evaluated relative to November on a like-for-like basis rather than against peak-season assumptions.

Participation and Engagement

By month end, the total player base in the system reached 3,723.

Participation remained stable through the month, supported by continued inflow of new players and repeat usage among existing participants. The player base continues to broaden, supporting the view that demand is distributed across multiple player segments rather than concentrated among a narrow early-adopter group.

Membership Progression

Total members reached 233 by December 31.

Membership formation continued through December at a steady pace. New memberships appear to be driven primarily by repeat participation and clarity of experience rather than promotional activity.

Operating Momentum

Revenue finished December right on target after applying the seasonal adjustment factor for the month. The algorithm underlying the operating model continues to track actual results across all metrics, with membership and top line funnel community exceeding the model by a wide margin.

We do not publish revenue figures in this update. Tracking plan in December matters because it reflects operating discipline during a month when scheduling disruption and deferred decision-making are common.

What December Is Validating

End-of-month performance supports several operating assumptions:

  1. Engagement holds during the slowest month of the year.

  2. Membership formation continues without reliance on incentives.

  3. Revenue tracks plan on a seasonally adjusted basis.

  4. Demand carries forward month-to-month rather than resetting.

How This Informs January and Beyond

December is best understood as a bridge month rather than a conversion peak. Participation and demand continue to build, while conversion is expected to increase as schedules normalize in January.

The focus entering January is on operational consistency, experience quality, and readiness for increased conversion activity, supported by structured onboarding and expanded leagues, clinics, and social programming that create weekly habits.