Core Viewpoint - Ark Restaurants Corp. (ARKR) has experienced a significant stock performance fluctuation, gaining 10.6% post-earnings report while facing a monthly decline of 12.9% against the S&P 500's rise of 2.5% [1] Revenue and Earnings Performance - For the third quarter of fiscal 2025, Ark Restaurants reported revenues of $43.7 million, a decrease of 13.3% from $50.4 million year-over-year [2] - Food and beverage sales contributed to the revenue decline, falling 12.7% to $42.9 million from $49.2 million [2] - The company recorded a net loss of $3.5 million, or $0.96 per share, compared to a net income of $0.6 million, or $0.18 per share, in the previous year [2] - Adjusted EBITDA on a non-GAAP basis decreased by 46.9% to $1.8 million from $3.4 million [2] Year-to-Date Performance - For the 39-week period, revenues fell 8.4% to $128.4 million from $140.1 million, with a net loss widening to $9.5 million from a net income of $0.6 million last year [3] Segment Performance - Same-store sales declined by 7.4% in the quarter, with New York and Washington, D.C. experiencing steep declines of 20.9%, partially offset by a modest gain of 1.8% in Florida [4] - The decline in New York was attributed to lost catering and event revenues due to ongoing landlord litigation, while the D.C. downturn was linked to reduced traffic from hybrid work schedules and safety concerns [4] Cost and Expense Analysis - Food and beverage costs as a percentage of revenues increased to 27.6% from 26.4% year-over-year, reflecting higher commodity prices [5] - Payroll expenses decreased by 12.6% to $15.3 million, accounting for approximately 34.9% of revenues [5] - Occupancy expenses fell by 13% to $5.4 million, while other operating costs declined by 4.2%, impacted by legal fees related to the Bryant Park dispute [5] Non-Cash Charges - The company recorded $4.7 million in impairment charges at its Sequoia restaurant and recognized a $3.4 million goodwill impairment earlier in the fiscal year [6][9] - Despite these charges, Ark Restaurants maintained a solid balance sheet with $12.3 million in cash against $3.9 million in debt [6] Management Commentary - CEO Michael Weinstein noted that individual restaurants, excluding Bryant Park and Sequoia, are performing well, with Las Vegas properties growing cash flow despite a slowdown in visitors [7] - Management acknowledged that litigation-related costs and negative publicity continue to impact Bryant Park Grill, a significant source of revenue volatility [7] Factors Influencing Results - Ongoing legal disputes over Bryant Park Grill & Cafe have generated over $800,000 in legal expenses and negatively affected the restaurants' reputation, leading to lost bookings and weaker traffic [8] - The recognition of impairment charges at Sequoia highlighted broader challenges in the D.C. dining market, where demand has been suppressed due to hybrid work patterns and safety concerns [10] Year-over-Year Comparisons - The closure of El Rio Grande and the Tampa Food Court contributed to revenue declines, as these locations accounted for several million dollars in sales in prior periods [11] Guidance and Future Outlook - Management did not provide formal quantitative guidance but expressed a cautious outlook regarding the ongoing litigation over Bryant Park [12] - Potential upside exists from a possible Meadowlands casino license, which would allow Ark Restaurants to operate food and beverage concessions if approved [12] Other Developments - Ark Restaurants continues to operate Bryant Park Grill & Cafe while pursuing legal challenges, with these locations generating $19.7 million, or 15.4% of total revenues for the first nine months of fiscal 2025 [13] - The company completed extensions of key Las Vegas leases, committing to property refreshes slated for completion by late 2025 and early 2026 [14]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 28, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 1-09453 ARK RESTAURANTS CORP. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incor ...

Financial Data and Key Metrics Changes - The company reported cash of $12 million at the end of the quarter and debt of $3.9 million, with an extended credit agreement providing $20 million of capacity [5] - An additional impairment of $4.7 million was recorded for Sequoia's leasehold improvements and right of use assets due to cash flow analysis [6] Business Line Data and Key Metrics Changes - Individual restaurants are performing well, particularly in Las Vegas and New York, with cash flow remaining strong despite a slowdown in visitors to the Las Vegas Strip [8] - Sequoia and Bryant Park are underperforming due to external factors, with Sequoia facing a decline in event business and Bryant Park involved in litigation [10][11] Market Data and Key Metrics Changes - The overall demand in various operational areas is down, with reports indicating a 15% to 20% decline in Florida, although this figure may be exaggerated [9] Company Strategy and Development Direction - The company is focused on maintaining operations at Bryant Park despite ongoing litigation and believes in the justification of their claims [11] - There is optimism regarding the potential for a casino license in the Meadowlands, contingent on developments in New York State's casino licensing [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenging environment but believes the company is performing well under the circumstances [9] - The company is positioned to capitalize on potential gaming opportunities in New Jersey as the legislative landscape evolves [12] Other Important Information - The company has extended the payment terms on balloon notes, with two set to run off in four to five quarters and another balloon payment due in June 2028 [6] Q&A Session Summary Question: Are there any questions from participants? - There were no questions from participants during the Q&A session [15]

Exhibit 99.1 Ark Restaurants Announces Financial Results for the Third Quarter of 2025 Total revenues for the 39 weeks ended June 28, 2025 were $128,428,000 versus $140,139,000 for the 39 weeks ended June 29, 2024. No revenues for El Rio Grande are included in the 39 weeks ended June 28, 2025 and the 39 weeks ended June 28, 2025 includes revenues of $974,000 related to the Tampa Food Court. The 39 weeks ended June 29, 2024 includes revenues of $2,373,000 and $4,003,000 related to El Rio Grande and the Tampa ...

Core Viewpoint - Ark Restaurants Corp. reported a net loss of $9.3 million for the second quarter of fiscal 2025, significantly impacted by non-cash items such as goodwill impairment and deferred tax asset valuation allowance, despite a modest improvement in same-store sales [3][7]. Financial Performance - Total revenues for the second quarter were $39.7 million, down 5.9% from $42.3 million in the same period last year. Excluding revenues from closed locations, the decline was only 1.1% [2]. - The company reported a net loss of $9.3 million, or $(2.57) per share, compared to a net loss of $1.4 million, or $(0.40) per share, in the prior year [3]. - Adjusted EBITDA was a loss of $0.7 million, worsening from a loss of $0.3 million in the previous year [3]. Cost Management - Food and beverage costs decreased by 5.4% to $11.5 million, while payroll expenses fell by 7.1% to $14.4 million. However, general and administrative expenses rose by 5.8% to $3.3 million [4]. - Operating loss increased to $4.6 million from a $1.2 million loss in the prior-year quarter, primarily due to impairments and legal costs [4]. Balance Sheet - As of March 29, 2025, the company reported $11.1 million in cash and $4.3 million in total debt, with plans to refinance the debt under a new facility with increased capacity of $15–$20 million [5]. Segment Performance - Las Vegas operations showed marked improvement, with better weekly cash flows. Florida restaurants reported revenue gains, while Alabama operations remained stable [6]. - The Washington, D.C. location showed signs of improvement following management changes [6]. Management Insights - The CFO attributed the significant losses to non-operational headwinds, including a $3.4 million goodwill impairment and a $4.8 million valuation allowance on deferred tax assets [7]. - Legal and consultancy fees related to lease disputes amounted to approximately $650,000, which negatively impacted EBITDA [8]. Revenue Challenges - The absence of revenues from El Rio Grande and the Tampa Food Court contributed to the overall revenue decline [9][10]. - The company is facing uncertainty regarding its Bryant Park properties, which accounted for approximately 15% of total revenues for the six-month period [11]. Future Developments - No new acquisitions or divestitures were announced, but management is evaluating new opportunities and expressed optimism about potential deals in the coming months [12].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 29, 2025 ARK RESTAURANTS CORP. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) New York 13-3156768 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ ...

Financial Data and Key Metrics Changes - At the end of Q2 2025, the company's cash balance was $11.1 million, an increase of approximately $0.9 million from year-end [5] - Total debt decreased to $4.3 million due to principal payments made during the quarter [6] - A goodwill impairment of $3.4 million was recorded, leading to a cumulative loss position affecting deferred tax assets, which resulted in a full valuation allowance of $4.8 million [7][8] Business Line Data and Key Metrics Changes - EBITDA for the quarter was negatively impacted by $650,000 in consultancy and legal fees related to the Bryant Park lease situation [10] - Alabama restaurants showed steady performance, while New York and Florida restaurants reported revenue improvements compared to the previous year [10][11] - Las Vegas operations demonstrated significant efficiency improvements, with weekly cash flows improving dramatically [12] Market Data and Key Metrics Changes - The company is currently in a legal dispute regarding the Bryant Park lease, which has implications for its operations and financials [14][15] - The Meadowlands casino license situation is contingent on New Jersey's response to downstate New York casino licenses, with expectations for developments by the end of the year [16][17] Company Strategy and Development Direction - The company is actively seeking new deals and opportunities for growth while navigating the challenges posed by the Bryant Park lease and Meadowlands casino licensing [13][19] - Management is optimistic about continued improvement in overall business performance [18] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about the lease situation at Bryant Park, indicating a lengthy legal process ahead but confidence in maintaining operations during this period [15] - The company anticipates that the Meadowlands location is well-positioned to meet future demands for casino gaming in Northern New Jersey [17] Other Important Information - The company is in the process of finalizing a new credit facility with a total capacity of $15 to $20 million [6] Q&A Session Summary Question: What is the status of the Bryant Park lease situation? - Management detailed ongoing legal proceedings and expressed confidence in their position, indicating that they expect to remain operational during the legal process [14][15] Question: How is the Meadowlands casino license situation evolving? - Management noted that the issuance of downstate New York casino licenses will influence the Meadowlands' prospects, with expectations for developments by year-end [16][17]

Financial Data and Key Metrics Changes - At the end of the quarter, the company's cash balance was $11.1 million, an increase of approximately $0.9 million from year-end [4] - Total debt decreased to $4.3 million due to principal payments made during the quarter [5] - A goodwill impairment of $3.4 million was recorded, leading to a cumulative loss position affecting deferred tax assets, which resulted in a full valuation allowance of $4.8 million [6][7] Business Line Data and Key Metrics Changes - EBITDA for the quarter was negatively impacted by $650,000 in consultancy and legal fees related to the Bryant Park lease situation [10] - Alabama restaurants showed steady performance, while New York and Florida restaurants reported revenue improvements compared to the previous year [10][11] - Las Vegas operations demonstrated significant efficiency improvements, with weekly cash flows improving dramatically [12] Market Data and Key Metrics Changes - The company is currently in a legal dispute regarding the Bryant Park lease, which has implications for its operations and financials [14][15] - The Meadowlands casino license situation is contingent on New Jersey's response to Downstate New York City casino licenses, with expectations for developments by the end of the year [16][17] Company Strategy and Development Direction - The company is actively seeking new deals and opportunities for growth while navigating the challenges posed by the Bryant Park lease and Meadowlands casino licensing [13][18] - Management expressed optimism about continued improvement in business performance across various locations [18] Management's Comments on Operating Environment and Future Outlook - Management highlighted the ongoing legal challenges but remains confident in the company's position and future prospects [15][16] - The expectation is that the business will continue to improve, with a focus on securing new opportunities [18] Other Important Information - The company is in the process of finalizing a new credit facility with a capacity of $15 to $20 million [5] - The Bryant Park lease situation is expected to take a year or more to resolve, with potential for a political settlement [15] Q&A Session Summary Question: What is the status of the Bryant Park lease? - The company has filed a claim in New York Supreme Court regarding the lease, alleging a corrupted proposal process and is currently a holdover tenant [14][15] Question: What are the prospects for the Meadowlands casino license? - The company believes that the Meadowlands is well-positioned to satisfy casino gaming demands in Northern New Jersey, pending New Jersey's allocation of licenses [16][17]

Financial Performance - Total revenues for the 13 weeks ended March 29, 2025, were $39,725,000, a decrease of 5.4% compared to $42,257,000 for the same period in 2024[4] - Total revenues for the 26 weeks ended March 29, 2025, were $84,714,000, down from $89,743,000 for the same period in 2024[5] - Consolidated net loss attributable to Ark Restaurants Corp. for the 13 weeks ended March 29, 2025, was $(9,258,000), compared to a net loss of $(1,449,000) for the same period in 2024[20] - The net loss attributable to Ark Restaurants Corp. for the 26 weeks ended March 29, 2025, was $(6,094,000) or $(1.69) per share, compared to a net loss of $(79,000) or $(0.02) per share for the same period in 2024[7] - Basic and diluted net loss per common share for the 13 weeks ended March 29, 2025, was $(2.57), compared to $(0.40) for the same period in 2024[20] Operating Results - The Company's adjusted EBITDA for the 13 weeks ended March 29, 2025, was $(691,000), compared to $(321,000) for the same period in 2024[6] - EBITDA for the 13 weeks ended March 29, 2025, was $(3,916,000), compared to $(145,000) for the same period in 2024[20] - Operating loss for the 13 weeks ended March 29, 2025, was $(4,617,000), compared to an operating loss of $(1,202,000) for the same period in 2024[20] - Total costs and expenses for the 13 weeks ended March 29, 2025, were $44,342,000, an increase of 2.0% from $43,459,000 in the same period in 2024[20] Revenue Sources - The Bryant Park Grill & Cafe and The Porch at Bryant Park collectively accounted for $12.7 million and $13.6 million of total revenues for the 26 weeks ended March 28, 2025, and March 29, 2024, respectively, representing approximately 15.0% and 15.1% of total revenue[13] Legal and Financial Position - The Company is pursuing legal action regarding lease agreements for Bryant Park properties, which could materially affect its business and financial condition[11] - The Company had cash and cash equivalents of $11,124,000 and total outstanding debt of $4,280,000 as of March 29, 2025[3] Special Items - The Company recognized a gain of $5,235,000 from the termination of the Tampa Food Court lease during the 13 weeks ended December 28, 2024[9] - The company reported a gain on termination of the Tampa Food Court lease of $(5,235,000) for the 26 weeks ended March 29, 2025[20] - Goodwill impairment of $3,440,000 was recorded for the 13 weeks ended March 29, 2025[20] Sales Performance - Company-wide same store sales increased by 0.4% for the 13 weeks ended March 29, 2025, but decreased by 1.0% for the 26 weeks ended March 29, 2025, compared to the prior year[4] - Total revenues for the 13 weeks ended March 29, 2025, were $39,725,000, a decrease of 5.5% compared to $42,257,000 for the same period in 2024[20] - Net loss attributable to non-controlling interests for the 13 weeks ended March 29, 2025, was $(114,000), compared to $(244,000) for the same period in 2024[20] - Weighted average number of common shares outstanding for the 13 weeks ended March 29, 2025, was 3,605,000, unchanged from the same period in 2024[20]

Core Viewpoint - Ark Restaurants Corp. reported a decline in revenues for the first quarter of fiscal 2025, but managed to increase operating income due to a lease termination gain, while facing ongoing inflationary pressures in the restaurant industry [2][3][10]. Financial Performance - Total revenues for the first quarter were $44.9 million, down 5.3% from $47.5 million in the same period last year [2]. - Net income attributable to Ark Restaurants was $3.2 million, or $0.88 per share, compared to $1.4 million, or $0.38 per share, in the prior-year quarter [2]. - Operating income increased to $5.7 million from $1.6 million in the prior-year quarter, influenced by a $5.2 million gain from lease termination [3]. Cost Structure - Food and beverage costs rose 0.3% to $12.11 million, constituting 26.9% of total revenues compared to 25.4% the previous year [4]. - Payroll expenses decreased by 3.4% to $16.4 million but increased as a percentage of total revenue due to wage inflation [4]. - Occupancy expenses and general administrative costs declined by 2.9% and 5.2% year over year, respectively [5]. Management Commentary - CEO Michael Weinstein highlighted ongoing cost pressures, particularly in wages and insurance premiums, and noted the company's strategy to avoid raising menu prices [6][10]. - Efforts to improve operational efficiency include consolidating functions and reducing payroll expenses [6]. Demand Trends - Strong sales were reported in Alabama, with a 6.9% year-over-year increase, while Washington, D.C. experienced an 18.2% decline in same-store sales [7][9]. - Las Vegas sales fell 3.8% year over year, attributed to lower traffic at the New York-New York Hotel and Casino [9]. Factors Influencing Results - The revenue decline was primarily due to the closure of the El Rio Grande and Tampa Food Court locations, although a $5.5 million lease termination payment positively impacted net income [8]. Guidance and Outlook - Management did not provide formal revenue or earnings guidance but expressed confidence in improving efficiency and reducing costs [12]. - Future prospects are tied to lease negotiations for Bryant Park Grill & Café and The Porch at Bryant Park, with potential material impacts on future earnings if leases are lost [13]. Other Developments - Ark Restaurants is negotiating a new banking agreement as its current credit facility is set to expire on May 31, 2025, with $13.1 million in cash and $4.7 million in total outstanding debt [14].