US Market News
1月前
Good Times Restaurants Reports Results for the Fiscal 2026 Second Quarter Ended March 31, 2026May 7, 2026 4:05 PM
Business Wire Good Times Restaurants Inc. (Nasdaq: GTIM), operator of the Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard restaurant brands, today reported financial results for the fiscal 2026 second quarter. Key highlights of the Company’s financial results include: Total Revenues for the quarter decreased 3.1% to $33.2 million compared to the fiscal 2025 second quarter Same Store Sales1 for Company-owned Bad Daddy’s restaurants decreased 0.8% and Good Times restaurants decreased 0.8% for the quarter compared to the fiscal 2025 second quarter and are -1.0% and -1.9% year-to-date for our Bad Daddy’s and Good Times brands, respectively. Net Income Attributable to Common Shareholders was $0.1 million for the quarter Adjusted EBITDA2 (a non-GAAP measure) was $1.4 million for the quarter The Company ended the quarter with $2.7 million in cash and $1.0 million of long-term debt “We have engaged a new creative agency for our Good Times brand and expect new campaigns to begin late in the third fiscal quarter, which will include the return of cheese curds, a side item that has been heavily requested from our guests since its elimination last May, and a competitively priced special for our Bambinos, our guest-favorite cheeseburger sliders. Bad Daddy’s began its Monthly Drops promotion at Bad Daddy’s in March, which is a reimagined version of our prior LTO program designed to create value on our core menu while creating both employee and guest excitement with more frequent burger introductions that are check-average and margin accretive,” Ryan M. Zink, the Company’s Chief Executive Officer, said. Mr. Zink continued, “Same store sales improved sequentially from the prior quarter at both concepts as did Adjusted EBITDA, operating in a segment with intensifying competition and cost pressures. I am pleased at the improvements in restaurant level operating profit2 (a non-GAAP measure) at our Good Times brand and our stable restaurant level operating profit as a percent-of-sales at our Bad Daddy’s brand, compared to the second quarter of fiscal 2025. We have reduced our debt position and improved liquidity which is intended to provide greater financial flexibility and optionality to create value for shareholders.” Conference Call: Management will host a conference call to discuss its fiscal 2026 second quarter financial results on Thursday, May 7, 2026 at 3:00 p.m. MT/5:00 p.m. ET. Hosting the call will be Ryan M. Zink, its Chief Executive Officer and Keri A. August, its Chief Accounting Officer. The conference call can be accessed by registering online at Q2 2026 GTIM Earnings Call and you will be provided with dial in details. The live webcast will be accessible from the Company's investor relations website on the Events page. An archive of the webcast will be available at the same location on the corporate website shortly after the call has concluded. About Good Times Restaurants Inc.: Good Times Restaurants Inc. owns, operates, and licenses 38 Bad Daddy’s Burger Bar restaurants through its wholly owned subsidiaries. Bad Daddy’s Burger Bar is a full-service “small box” restaurant concept featuring a chef-driven menu of gourmet signature burgers, chopped salads, appetizers and sandwiches with a full bar and a focus on a selection of craft beers in a high-energy atmosphere that appeals to a broad consumer base. Additionally, through its wholly owned subsidiaries, Good Times Restaurants Inc. owns, operates and franchises 30 Good Times Burgers & Frozen Custard restaurants primarily in Colorado. Good Times is a regional quick-service concept featuring 100% all-natural burgers and chicken sandwiches, signature wild fries, green chili breakfast burritos and fresh frozen custard desserts. _______________ 1 Same store sales are a metric used in evaluating the performance of established restaurants and is a commonly used metric in the restaurant industry. Same store sales for our brands are calculated using all units open for at least 18 full fiscal months and use the comparable operating weeks from the prior year to the current year quarter’s operating weeks. 2 For a reconciliation of Adjusted EBITDA and Restaurant Level Operating Profit to the most directly comparable financial measures presented in accordance with GAAP and a discussion of why the Company considers them useful, see the financial information schedules accompanying this release. Forward-Looking Statements: This press release contains forward-looking statements within the meaning of federal securities laws. The words “intend,” “may,” “believe,” “will,” “should,” “anticipate,” “expect,” “seek,” “plan” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, which may cause the Company’s actual results to differ materially from results expressed or implied by the forward-looking statements. Such risks and uncertainties include, among other things, the market price of the Company's stock prevailing from time to time, the nature of other investment opportunities presented to the Company, the disruption to our business from pandemics and other public health emergencies, the impact and duration of staffing constraints at our restaurants, the impact of supply chain constraints and the current inflationary environment, the uncertain nature of current restaurant development plans and the ability to implement those plans and integrate new restaurants, delays in developing and opening new restaurants because of weather, local permitting or other reasons, increased competition, cost increases or shortages in raw food products, other general economic and operating conditions, risks associated with the acquisition of additional restaurants, the adequacy of cash flows and the cost and availability of capital or credit facility borrowings to provide liquidity, changes in federal, state, or local laws and regulations affecting the operation of our restaurants, including minimum wage and tip credit regulations, and other matters discussed under the Risk Factors section of Good Times’ Annual Report on Form 10-K for the fiscal year ended September 30, 2025 filed with the SEC, and other subsequent filings with the SEC. Category: Financial Good Times Restaurants Inc. Unaudited Supplemental Information (In thousands, except per share amounts) Fiscal Second Quarter Year-to-Date March 31, 2026 (13 Weeks) April 1, 2025 (13 Weeks) March 31, 2026 (26 Weeks) April 1, 2025 (27 Weeks) NET REVENUES: Restaurant sales $ 33,124 $ 34,140 $ 65,497 $ 70,105 Franchise and other revenues 108 139 441 507 Total net revenues 33,232 34,279 65,938 70,612 RESTAURANT OPERATING COSTS: Food and packaging costs 9,828 10,477 19,669 21,840 Payroll and other employee benefit costs 11,387 11,826 22.597 24,609 Restaurant occupancy costs 2,524 2,583 5,033 5,266 Other restaurant operating costs 4,951 4,918 9,513 9,659 Preopening costs - - - 8 Depreciation and amortization 878 996 1,818 2,014 Total restaurant operating costs 29,568 30,800 58,630 63,396 General and administrative costs 2,196 2,578 4,251 5,166 Advertising costs 984 915 2,259 2,044 Impairment of long-lived assets 227 494 227 494 Loss (gain) on asset disposals 85 6 99 (51 ) Total costs and expenses 33,060 34,793 65,466 71,049 INCOME (LOSS) FROM OPERATIONS 172 (514 ) 472 (437 ) OTHER (EXPENSE) INCOME: Interest and other expense, net (36 ) (56 ) (87 ) (102 ) Other income - - - 140 Total other (expense) income (36 ) (56 ) (87 ) 38 NET INCOME (LOSS) BEFORE INCOME TAXES 136 (570 ) 385 (399 ) Provision for income taxes 23 (57 ) (28 ) (54 ) NET INCOME (LOSS) $ 159 $ (627 ) $ 357 $ (453 ) (Income) loss attributable to non-controlling interests (10 ) 3 (27 ) (7 ) NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 149 $ (624 ) $ 330 $ (460 ) NET INCOME (LOSS) PER SHARE, ATTRIBUTABLE TO COMMON SHAREHOLDERS: Basic $ 0.01 $ (0.06 ) $ 0.03 $ (0.04 ) Diluted $ 0.01 $ (0.06 ) $ 0.03 $ (0.04 ) WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: Basic 10,557,896 10,628,318 10,556,006 10,656,481 Diluted 10,650,896 10,628,318 10,649,006 10,656,481 Good Times Restaurants Inc. Unaudited Supplemental Information (In thousands) Selected Balance Sheet Data March 31, 2026 September 30, 2025 Cash and cash equivalents $ 2,749 $ 2,605 Current assets $ 5,844 $ 5,254 Total assets $ 81,041 $ 83,807 Current liabilities $ 14,732 $ 14,378 Shareholders’ equity $ 34,195 $ 33,811 Supplemental Information for Company-Owned Restaurants (dollars in thousands): Bad Daddy’s Good Times Fiscal Second Quarter Year-to-Date Fiscal Second Quarter Year-to-Date 2026 2025 2026 2025 2026 2025 2026 2025 (13 weeks) (13 weeks) (26 weeks) (27 weeks) (13 weeks) (13 weeks) (26 weeks) (27 weeks) Restaurant sales $ 23,920 $ 24,817 $ 47,123 $ 50,895 $ 9,204 $ 9,323 $ 18,374 $ 19,210 Restaurants open at beginning of period 37 39 38 39 27 27 27 25 Restaurants opened or acquired during period - - - - - - - 2 Restaurants closed during period - 1 - 1 - 1 - Restaurants open at period end 37 39 37 39 26 27 26 27 Restaurant operating weeks 481.0 507.0 963.0 1,053.0 348.5 351.0 699.5 716.5 Average weekly sales per restaurant $ 49.7 $ 48.9 $ 48.9 $ 48.3 $ 26.4 $ 26.6 $ 26.3 $ 26.8 Reconciliation of U.S. GAAP Results to Non-GAAP Measurements Reconciliation of Income (Loss) from Operations to Non-GAAP Restaurant-Level Operating Profit (In thousands): Fiscal Second Quarter Year-to-Date 2026 2025 2026 2025 (13 weeks) (13 weeks)1 (26 weeks) (27 weeks)1 Income (loss) from operations $ 172 $ (514 ) $ 472 $ (437 ) Less: Franchise and other revenues 108 139 441 507 Add: General and administrative 2,196 2,578 4,251 5,166 Depreciation and amortization 878 996 1,818 2,014 Advertising costs 984 915 2,259 2,044 Impairment of long-lived assets 227 494 227 494 Loss (gain) on asset disposals 85 6 99 (51 ) Preopening costs - - - 8 Restaurant-level operating profit $ 4,434 $ 4,336 $ 8,685 $ 8,731 1 Certain prior year activity has been reclassified from Other restaurant operating costs to Advertising costs to conform to the current year’s presentation. Such reclassification resulted in an increase to Advertising costs and Restaurant-level operating profit (a non-GAAP measure) for the second fiscal quarter 2025 and year-to-date second fiscal quarter 2025 of approximately $0.2 million and $0.5 million, respectively. The Company believes that restaurant-level operating profit is an important measure for management and investors because it is widely regarded in the restaurant industry as a useful metric by which to evaluate restaurant-level operating efficiency and performance. The Company defines restaurant-level operating profit to be restaurant revenues minus restaurant-level operating costs, excluding restaurant closures and impairment costs. The measure includes restaurant-level occupancy costs, which include fixed rents, percentage rents, common area maintenance charges, real estate and personal property taxes, general liability insurance and other property costs, but excludes depreciation. The measure excludes depreciation and amortization expense, substantially all of which is related to restaurant level assets, because such expenses represent historical sunk costs which do not reflect current cash outlay for the restaurants. The measure also excludes selling, general and administrative costs, and therefore excludes occupancy costs associated with selling, general and administrative functions, and preopening costs. The Company excludes restaurant closure costs as they do not represent a component of the efficiency of continuing operations. Restaurant impairment costs are excluded, because, like depreciation and amortization, they represent a non-cash charge for the Company’s investment in its restaurants and not a component of the efficiency of restaurant operations. Restaurant-level operating profit is not a measurement determined in accordance with generally accepted accounting principles (“GAAP”) and should not be considered in isolation, or as an alternative, to income from operations or net income as indicators of financial performance. Restaurant-level operating profit as presented may not be comparable to other similarly titled measures of other companies. The tables set forth in this section certain unaudited information for the current and prior year fiscal quarters for fiscal 2026 and 2025, expressed as a percentage of total revenues, except for the components of restaurant operating costs, which are expressed as a percentage of restaurant revenues. Margin Analysis: Quarter Ended Year-to-Date Period Ended March 31, 2026 (13 Weeks) April 1, 2025 (13 Weeks)1 March 31, 2026 (26 Weeks) April 1, 2025 (27 Weeks)1 Bad Daddy’s Burger Bar2: Restaurant sales $ 23,920 100.0 % $ 24,817 100.0 % $ 47,123 100.0 % $ 50,895 100.0 % Restaurant operating costs (exclusive of depreciation and amortization and pre-opening costs): Food and packaging costs 7,092 29.6 % 7,619 30.7 % 14,107 29.9 % 15,834 31.1 % Payroll and benefits costs 8,168 34.1 % 8,510 34.3 % 16,169 34.3 % 17,667 34.7 % Restaurant occupancy costs 1,625 6.8 % 1,665 6.7 % 3,241 6.9 % 3,418 6.7 % Other restaurant operating costs 3,739 15.6 % 3,591 14.5 % 7,123 15.1 % 7,159 14.1 % Restaurant-level operating profit (a non-GAAP measure) $ 3,296 13.8 % $ 3,432 13.8 % $ 6,483 13.8 % $ 6,817 13.4 % Good Times Burgers & Frozen Custard: Restaurant sales $ 9,204 100.0 % $ 9,323 100.0 % $ 18,374 100.0 % $ 19,210 100.0 % Restaurant operating costs (exclusive of depreciation and amortization and pre-opening costs): Food and packaging costs 2,736 29.7 % 2,858 30.7 % 5,562 30.3 % 6,006 31.3 % Payroll and benefits costs 3,219 35.0 % 3,316 35.6 % 6,428 35.0 % 6,942 36.1 % Restaurant occupancy costs 920 10.0 % 939 10.1 % 1,835 10.0 % 1,888 9.8 % Other restaurant operating costs 1,400 15.2 % 1,407 15.1 % 2,679 14.6 % 2,668 13.9 % Restaurant-level operating profit (a non-GAAP measure) $ 929 10.1 % $ 803 8.6 % $ 1,870 10.2 % $ 1,706 8.9 % Other2: Restaurant occupancy costs $ (21 ) $ (21 ) $ (43 ) $ (40 ) Other restaurant operating costs (188 ) (80 ) (289 ) (168 ) Restaurant-level operating profit (a non-GAAP measure) $ 209 $ 101 $ 332 $ 208 Total restaurant-level operating profit (a non-GAAP measure) $ 4,434 13.4 % $ 4,336 12.7 % $ 8,685 13.3 % $ 8,731 12.5 % 1 Certain prior year activity has been reclassified from Other restaurant operating costs to Advertising costs to conform to the current year’s presentation. Such reclassification resulted in an increase to Restaurant-level operating profit (a non-GAAP measure) for the second fiscal quarter 2025 and year-to-date second fiscal quarter 2025 of approximately $0.2 million and $0.5 million, respectively. 2 Prior to fourth quarter 2025, certain general and administrative activity now included in Other was combined and reported with the Bad Daddy's segment. In order to better align with our internal reporting and provide a better representation of restaurant-level operations, beginning with fourth quarter 2025, this activity has been removed from the Bad Daddy's segment. Fiscal 2025 figures have been recast for comparability. Certain percentage amounts in the table above do not total due to rounding. Reconciliation of Net Income (Loss) to Non-GAAP Adjusted EBITDA (Thousands of US Dollars) Fiscal Second Quarter Year-to-Date March 31, 2026 April 1, 2025 March 31, 2026 April 1, 2025 (13 weeks) (13 weeks) (26 weeks) (27 weeks) Calculation of Adjusted EBITDA: Net income (loss) attributable to common shareholders, as reported $ 149 $ (624 ) $ 330 $ (460 ) Depreciation and amortization 896 1,029 1,862 2,071 Depreciation and amortization attributable to non-controlling interest (28 ) (24 ) (54 ) (50 ) Provision for income taxes (23 ) 57 28 54 Interest expense, net 36 56 87 102 EBITDA 1,030 494 2,253 1,717 Preopening expense 1 - - - 8 Non-cash stock-based compensation 2 22 30 45 65 Asset impairment 3 227 494 227 494 Non-cash loss on asset disposals 4 86 9 101 5 Non-cash gain on asset disposals attributable to non-controlling interest 4 - (3 ) - (3 ) Adjusted EBITDA $ 1,365 $ 1,024 $ 2,626 $ 2,286 1 Represents expenses directly associated with the opening of new or acquired restaurants, including preopening rent. 2 Represents non-cash stock-based compensation as described in Note 13 to the unaudited condensed consolidated financial statements. 3 Represents costs recognized in connection with the asset impairment charges described in Note 11 to the unaudited condensed consolidated financial statements. 4 Represents deferred gains on previous sale-leaseback transactions on two Good Times restaurants as well as (gains) losses on miscellaneous asset disposals. Adjusted EBITDA is a supplemental measure of operating performance that does not represent and should not be considered as an alternative to net income (loss) or cash flow from operations, as determined by GAAP, and our calculation thereof may not be comparable to that reported by other companies. This measure is presented because we believe that investors' understanding of our performance is enhanced by including this non-GAAP financial measure as a reasonable basis for evaluating our ongoing results of operations. Adjusted EBITDA is calculated as net income (loss) before interest expense, provision for income taxes and depreciation and amortization and further adjustments to reflect the additions and eliminations presented in the table above. Adjusted EBITDA is presented because: (i) we believe it is a useful measure for investors to assess the operating performance of our business without the effect of non-cash charges such as depreciation and amortization expenses and asset disposals, closure costs and restaurant impairments, and (ii) we use Adjusted EBITDA internally as a benchmark for certain of our cash incentive plans and to evaluate our operating performance or compare our performance to that of our competitors. The use of Adjusted EBITDA as a performance measure permits a comparative assessment of our operating performance relative to our performance based on our GAAP results, while isolating the effects of some items that vary from period to period without any correlation to core operating performance or that vary widely among similar companies. Companies within our industry exhibit significant variations with respect to capital structures and cost of capital (which affect interest expense and income tax rates) and differences in book depreciation of property, plant and equipment (which affect relative depreciation expense), including significant differences in the depreciable lives of similar assets among various companies. Our management believes that Adjusted EBITDA facilitates company-to-company comparisons within our industry by eliminating some of these foregoing variations. Adjusted EBITDA, as presented, may not be comparable to other similarly titled measures of other companies, and our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by excluded or unusual items. View source version on businesswire.com: https://www.businesswire.com/news/home/20260507937097/en/ GOOD TIMES RESTAURANTS INC.
Ryan M. Zink, Chief Executive Officer (303) 384-1432
Christi Pennington (303) 384-1440 Original: Good Times Restaurants Reports Results for the Fiscal 2026 Second Quarter Ended March 31, 2026
US Market News
1月前
Good Times Restaurants to Release Results on May 7, 2026 for the Fiscal 2026 Second Quarter Ended March 31, 2026May 1, 2026 4:15 PM
Business Wire
Good Times Restaurants Inc. (Nasdaq: GTIM), operator of Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard, today announced that on May 7, 2026 it will release financial results for its second fiscal quarter ended March 31, 2026. The Company will host a conference call to discuss its financial results following the release of its earnings announcement and webcast.
The conference call can be accessed by registering online at Q2 2026 GTIM Earnings Call and you will be provided with dial in details. The live webcast will be accessible from the Company's investor relations website on the Events page. An archive of the webcast will be available at the same location on the corporate website shortly after the call has concluded.
About Good Times Restaurants Inc.: Good Times Restaurants Inc. owns, operates, and licenses 38 Bad Daddy’s Burger Bar restaurants through its wholly owned subsidiaries. Bad Daddy’s Burger Bar is a full-service “small box” restaurant concept featuring a chef-driven menu of gourmet signature burgers, chopped salads, appetizers and sandwiches with a full bar and a focus on a selection of craft beers in a high-energy atmosphere that appeals to a broad consumer base. Additionally, through its wholly owned subsidiaries, Good Times Restaurants Inc. owns, operates and franchises 30 Good Times Burgers & Frozen Custard restaurants primarily in Colorado. Good Times is a regional quick-service concept featuring 100% all-natural burgers and chicken sandwiches, signature wild fries, green chili breakfast burritos and fresh frozen custard desserts.
Forward Looking Statements: This press release contains forward looking statements within the meaning of federal securities laws. The words “intend,” “may,” “believe,” “will,” “should,” “anticipate,” “expect,” “seek”, “plan” and similar expressions are intended to identify forward looking statements. These statements involve known and unknown risks, which may cause the Company’s actual results to differ materially from results expressed or implied by the forward-looking statements. Such risks and uncertainties include, among other things, the market price of the Company's stock prevailing from time to time, the nature of other investment opportunities presented to the Company, the disruption to our business from pandemics and other public health emergencies, the impact and duration of staffing constraints at our restaurants, the impact of supply chain constraints and the current inflationary environment, the impact of tariffs, the uncertain nature of current restaurant development plans and the ability to implement those plans and integrate new restaurants, delays in developing and opening new restaurants because of weather, local permitting or other reasons, increased competition, cost increases or shortages in raw food products, other general economic and operating conditions, risks associated with our share repurchase program, risks associated with the acquisition of additional restaurants, the adequacy of cash flows and the cost and availability of capital or credit facility borrowings to provide liquidity, changes in federal, state, or local laws and regulations affecting the operation of our restaurants, including minimum wage and tip credit regulations, and other matters discussed under the Risk Factors section of Good Times’ Annual Report on Form 10-K for the fiscal year ended September 30, 2025 filed with the SEC, and other filings with the SEC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260501326477/en/
Investor Relations Contacts
Ryan M. Zink, Chief Executive Officer (303) 384-1432
Christi Pennington (303) 384-1440
Original: Good Times Restaurants to Release Results on May 7, 2026 for the Fiscal 2026 Second Quarter Ended March 31, 2026
US Market News
4月前
Good Times Restaurants Reports Results for the 2026 First Fiscal Quarter Ended December 30, 2025February 5, 2026 4:05 PM
Business Wire
Good Times Restaurants Inc. (Nasdaq: GTIM), operator of the Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard restaurant brands, today reported financial results for the 2026 first fiscal quarter.
Key highlights of the Company’s financial results include:
Total Revenues for the quarter were $32.7 million
Same Store Sales1 for company-owned Bad Daddy’s restaurants decreased 1.2% for the quarter compared to the first quarter of fiscal 2025 and for Good Times restaurants decreased 3.1% for the quarter compared to the first quarter of fiscal 2025
Net Income Attributable to Common Shareholders was $0.2 million ($0.02 per share) for the quarter
Adjusted EBITDA2 (a non-GAAP measure) was $1.3 million for the quarter
The Company ended the quarter with $3.3 million in cash and $1.8 million of long-term debt
Ryan M. Zink, the Company’s Chief Executive Officer, said, “I am pleased with our Same Store Sales this quarter, which marks meaningful improvement over our prior quarter. The first fiscal quarter included a traditional thirteen weeks this year, one fewer than last year’s fourteen weeks. I am proud of our ability to generate similar Net Income, in light of the eight percent reduction in restaurant operating weeks resulting from the calendar shift, compared to the prior fiscal quarter. Restaurant level controls, including both cost of sales and cost of labor, have been the result of a heightened sense of cost containment and more aggressive negotiations with our vendor partners which is translating into increased profitability.”
Mr. Zink continued, “Increasing guest traffic at both brands continues to be our top priority. At Good Times, we recently completed the transition from cook-and-hold, to cook-to-order for all of our burgers, including a new cheese melting process which will deliver a significantly better product to our guests, without incurring any additional labor costs. At the same time, we improved our beef grind and have increased the size of our patty to deliver greater value to the guest. This burger style distances us from mainline QSR and improves our ability to compete with new market entrants into the front range communities. We will be messaging our improved burgers through a variety of digital media over the next quarter.”
“At Bad Daddy’s, we have seen marked improvement in traffic at our Colorado restaurants, which were notably soft in fiscal 2025 compared to the rest of the system. We will be shifting our quarterly multi-product LTO strategy to a single monthly food feature in March, which we expect to increase frequency among our loyal guests, and also provide us with a format in which to feature a broader range of burgers and sandwiches, while at the same time providing greater ability to operationalize overlapping short shelf life promotions. This approach facilitates promotional items that have broader guest appeal and at a greater variety of price points, enabling us to simultaneously deliver on value for the guest, strong item-level margin and cost metrics, and more frequent ‘new news’ to message to our guests. I am optimistic about our sales projections for both concepts and the resulting ability to meaningfully improve on profit measures during the fiscal year,” Zink concluded.
Conference Call: Management will host a conference call to discuss its fiscal 2026 first quarter financial results on Thursday, February 5, 2026 at 3:00 p.m. MT/5:00 p.m. ET. Hosting the call will be Ryan M. Zink, its Chief Executive Officer and Keri A. August, its Chief Accounting Officer.
The conference call can be accessed by registering online at Q1 2026 GTIM Earnings Call and you will be provided with dial in details. The live webcast will be accessible from the Company's investor relations website on the Events page. An archive of the webcast will be available at the same location on the corporate website shortly after the call has concluded.
About Good Times Restaurants Inc.: Good Times Restaurants Inc. owns, operates, and licenses 38 Bad Daddy’s Burger Bar restaurants through its wholly owned subsidiaries. Bad Daddy’s Burger Bar is a full-service “small box” restaurant concept featuring a chef-driven menu of gourmet signature burgers, chopped salads, appetizers and sandwiches with a full bar and a focus on a selection of craft beers in a high-energy atmosphere that appeals to a broad consumer base. Additionally, through its wholly owned subsidiaries, Good Times Restaurants Inc. owns, operates and franchises 30 Good Times Burgers & Frozen Custard restaurants primarily in Colorado. Good Times is a regional quick-service concept featuring all-natural burgers and chicken sandwiches, signature wild fries, green chili breakfast burritos and fresh frozen custard desserts.
Forward Looking Statements: This press release contains forward looking statements within the meaning of federal securities laws. The words “intend,” “may,” “believe,” “will,” “should,” “anticipate,” “expect,” “seek”, “plan” and similar expressions are intended to identify forward looking statements. These statements involve known and unknown risks, which may cause the Company’s actual results to differ materially from results expressed or implied by the forward-looking statements. Such risks and uncertainties include, among other things, the market price of the Company's stock prevailing from time to time, the nature of other investment opportunities presented to the Company, the disruption to our business from pandemics and other public health emergencies, the impact and duration of staffing constraints at our restaurants, the impact of supply chain constraints and the current inflationary environment, the impact of tariffs, the uncertain nature of current restaurant development plans and the ability to implement those plans and integrate new restaurants, delays in developing and opening new restaurants because of weather, local permitting or other reasons, increased competition, cost increases or shortages in raw food products, other general economic and operating conditions, risks associated with our share repurchase program, risks associated with the acquisition of additional restaurants, the adequacy of cash flows and the cost and availability of capital or credit facility borrowings to provide liquidity, changes in federal, state, or local laws and regulations affecting the operation of our restaurants, including minimum wage and tip credit regulations, and other matters discussed under the Risk Factors section of Good Times’ Annual Report on Form 10-K for the fiscal year ended September 30, 2025 filed with the SEC, and other filings with the SEC.
Category: Financial
Good Times Restaurants Inc.
Unaudited Supplemental Information
(In thousands, except per share amounts)
Fiscal First Quarter
2026
2025
Statement of Operations
(13 weeks)
(14 weeks)
NET REVENUES:
Restaurant sales
$
32,373
$
35,965
Franchise and other revenues
333
368
Total net revenues
32,706
36,333
RESTAURANT OPERATING COSTS:
Food and packaging costs
9,841
11,363
Payroll and other employee benefit costs
11,210
12,783
Restaurant occupancy costs
2,509
2,683
Other restaurant operating costs
4,562
4,741
Preopening costs
-
8
Depreciation and amortization
940
1,018
Total restaurant operating costs
29,062
32,596
General and administrative costs
2,055
2,588
Advertising costs
1,275
1,129
Loss (gain) on restaurant asset disposals
14
(57
)
Total costs and expenses
32,406
36,256
INCOME FROM OPERATIONS
300
77
OTHER (EXPENSE) INCOME:
Interest expense, net
(51
)
(46
)
Other income
-
140
Total other (expense) income
(51
)
94
NET INCOME BEFORE INCOME TAXES
249
171
Provision for income taxes
(51
)
3
NET INCOME
$
198
$
174
Income attributable to non-controlling interests
(17
)
(10
)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS
$
181
$
164
NET INCOME PER SHARE, ATTRIBUTABLE TO COMMON SHAREHOLDERS:
Basic
$
0.02
$
0.02
Diluted
$
0.02
$
0.02
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic
10,554,117
10,682,632
Diluted
10,650,117
10,816,596
Good Times Restaurants Inc.
Unaudited Supplemental Information
(In thousands)
Selected Balance Sheet Data
December 30, 2025
September 30, 2025
Cash and cash equivalents
$
3,316
$
2,605
Current assets
$
6,730
$
5,254
Total assets
$
82,512
$
83,807
Current liabilities
$
14,977
$
14,378
Shareholders’ equity
$
33,247
$
33,058
Supplemental Information for Company-Owned Restaurants (dollars in thousands):
Bad Daddy’s Burger Bar
Good Times Burgers &
Frozen Custard
Fiscal First Quarter
2026
(13 weeks)
2025
(14 weeks)
2026
(13 weeks)
2025
(14 weeks)
Restaurant sales
$
23,202
$
26,078
$
9,171
$
9,887
Restaurants open at beginning of period
38
39
27
25
Restaurants opened or acquired during period
-
-
-
2
Restaurants closed during period
1
-
-
-
Restaurants open at period end
37
39
27
27
Restaurant operating weeks
482.0
546.0
351.0
365.5
Average weekly sales per restaurant
$
48.1
$
47.8
$
26.1
$
27.1
Reconciliation of U.S. GAAP Results to Non-GAAP Measurements
Reconciliation of Income from Operations to Non-GAAP Restaurant-Level Operating Profit (in thousands)
First Fiscal Quarter
2026 (13 weeks)
2025 (14 weeks) 1
Income from operations
$
300
$
77
Less:
Franchise and other revenues
333
368
Add:
General and administrative
2,055
2,588
Depreciation and amortization
940
1,018
Advertising costs
1,275
1,129
Loss (gain) on restaurant asset disposals
14
(57
)
Preopening costs
-
8
Restaurant-level operating profit
$
4,251
$
4,395
1
Certain prior year activity has been reclassified from Other restaurant operating costs to Advertising costs to conform to the current year’s presentation. Such reclassification resulted in an increase to Advertising costs and Restaurant-level operating profit (a non-GAAP measure) for the first fiscal quarter 2025 of approximately $0.3 million.
The Company believes that restaurant-level operating profit is an important measure for management and investors because it is widely regarded in the restaurant industry as a useful metric by which to evaluate restaurant-level operating efficiency and performance. The Company defines restaurant-level operating profit to be restaurant revenues minus restaurant-level operating costs, excluding restaurant closures and impairment costs. The measure includes restaurant-level occupancy costs, which include fixed rents, percentage rents, common area maintenance charges, real estate and personal property taxes, general liability insurance and other property costs, but excludes depreciation. The measure excludes depreciation and amortization expense, substantially all of which is related to restaurant level assets, because such expenses represent historical sunk costs which do not reflect current cash outlay for the restaurants. The measure also excludes selling, general and administrative costs, and therefore excludes occupancy costs associated with selling, general and administrative functions, and preopening costs. The Company excludes restaurant closure costs as they do not represent a component of the efficiency of continuing operations. Restaurant impairment costs are excluded, because, like depreciation and amortization, they represent a non-cash charge for the Company’s investment in its restaurants and not a component of the efficiency of restaurant operations. Restaurant-level operating profit is not a measurement determined in accordance with generally accepted accounting principles (“GAAP”) and should not be considered in isolation, or as an alternative, to income from operations or net income as indicators of financial performance. Restaurant-level operating profit as presented may not be comparable to other similarly titled measures of other companies. The tables above set forth certain unaudited information for the current and prior year fiscal quarters for fiscal 2026 and fiscal 2025, expressed as a percentage of total revenues, except for the components of restaurant operating costs, which are expressed as a percentage of restaurant revenues.
Margin Analysis:
First Fiscal Quarter
2026 (13 weeks)
2025 (14 weeks) 1
Bad Daddy’s Burger Bar 2:
Restaurant sales
$
23,202
100.0
%
$
26,078
100.0
%
Restaurant operating costs (exclusive of depreciation and amortization and pre-opening costs):
Food and packaging costs
7,015
30.2
%
8,214
31.5
%
Payroll and benefits costs
8,000
34.5
%
9,156
35.1
%
Restaurant occupancy costs
1,615
7.0
%
1,752
6.7
%
Other restaurant operating costs
3,385
14.6
%
3,573
13.7
%
Restaurant-level operating profit
$
3,187
13.7
%
$
3,383
13.0
%
Good Times Burgers & Frozen Custard:
Restaurant sales
$
9,171
100.0
%
$
9,887
100.0
%
Restaurant operating costs (exclusive of depreciation and amortization and pre-opening costs):
Food and packaging costs
2,826
30.8
%
3,149
31.8
%
Payroll and benefits costs
3,210
35.0
%
3,627
36.7
%
Restaurant occupancy costs
915
10.0
%
950
9.6
%
Other restaurant operating costs
1,278
13.9
%
1,255
12.7
%
Restaurant-level operating profit
$
942
10.3
%
$
906
9.2
%
Other 2:
Restaurant occupancy costs
$
(21
)
$
(19
)
Other restaurant operating costs
(101
)
(87
)
Restaurant-level operating profit
$
122
$
106
Total restaurant-level operating profit
$
4,251
13.1
%
$
4,395
12.2
%
1
Certain prior year activity has been reclassified from Other restaurant operating costs to Advertising costs to conform to the current year’s presentation. Such reclassification resulted in an increase to Restaurant-level operating profit (a non-GAAP measure) for the first fiscal quarter 2025 of approximately $0.3 million.
2
Prior to fourth quarter 2025, certain general and administrative activity now included in Other was combined and reported with the Bad Daddy's segment. In order to better align with our internal reporting and provide a better representation of restaurant-level operations, beginning with fourth quarter 2025, this activity has been removed from the Bad Daddy's segment. First quarter fiscal 2025 figures have been recast for comparability.
Certain percentage amounts in the table above do not total due to rounding.
Reconciliation of Net Income to Non-GAAP Adjusted EBITDA (in thousands):
Quarter Ended
December 30, 2025
(13 Weeks)
December 31, 2024
(14 Weeks)
Net income attributable to common shareholders, as reported
$
181
$
164
Depreciation and amortization
966
1,042
Depreciation and amortization attributable to non-controlling interest
(26
)
(26
)
Provision for income taxes
51
(3
)
Interest expense, net
51
46
EBITDA
1,223
1,223
Preopening expense 1
-
8
Non-cash stock-based compensation 2
23
35
Non-cash loss (gain) on restaurant asset disposals 3
15
(4
)
Adjusted EBITDA
$
1,261
$
1,262
1
Represents expenses directly associated with the opening of new restaurants, including preopening rent.
2
Represents non-cash stock-based compensation as described in Note 13 to the Consolidated Financial Statements.
3
Primarily represents losses (gains) from asset disposals as well as deferred gains on previous sale-leaseback transactions on two Good Times restaurants.
Adjusted EBITDA is a supplemental measure of operating performance that does not represent and should not be considered as an alternative to net income or cash flow from operations, as determined by GAAP, and our calculation thereof may not be comparable to that reported by other companies. This measure is presented because we believe that investors' understanding of our performance is enhanced by including this non-GAAP financial measure as a reasonable basis for evaluating our ongoing results of operations.
Adjusted EBITDA is calculated as net income before interest expense, provision for income taxes and depreciation and amortization and further adjustments to reflect the additions and eliminations presented in the table above.
Adjusted EBITDA is presented because: (i) we believe it is a useful measure for investors to assess the operating performance of our business without the effect of non-cash charges such as depreciation and amortization expenses and asset disposals, closure costs and restaurant impairments, and (ii) we use Adjusted EBITDA internally as a benchmark for certain of our cash incentive plans and to evaluate our operating performance or compare our performance to that of our competitors. The use of Adjusted EBITDA as a performance measure permits a comparative assessment of our operating performance relative to our performance based on our GAAP results, while isolating the effects of some items that vary from period to period without any correlation to core operating performance or that vary widely among similar companies. Companies within our industry exhibit significant variations with respect to capital structures and cost of capital (which affect interest expense and income tax rates) and differences in book depreciation of property, plant and equipment (which affect relative depreciation expense), including significant differences in the depreciable lives of similar assets among various companies. Our management believes that Adjusted EBITDA facilitates company-to-company comparisons within our industry by eliminating some of these foregoing variations. Adjusted EBITDA, as presented, may not be comparable to other similarly titled measures of other companies, and our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by excluded or unusual items.
________________________
1
Same store sales are a metric used in evaluating the performance of established restaurants and is a commonly used metric in the restaurant industry. Same store sales for our brands are calculated using all units open for at least 18 full fiscal months and use the comparable operating weeks from the prior year to the current year quarter’s operating weeks.
2
For a reconciliation of Adjusted EBITDA to the most directly comparable financial measures presented in accordance with GAAP and a discussion of why the Company considers them useful, see the financial information schedules accompanying this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260205438550/en/
GOOD TIMES RESTAURANTS INC. CONTACTS:
Ryan M. Zink, Chief Executive Officer (303) 384-1432
Christi Pennington (303) 384-1440
Original: Good Times Restaurants Reports Results for the 2026 First Fiscal Quarter Ended December 30, 2025