Revenue Performance - Net revenues for the fiscal quarter ended June 27, 2023 decreased by $877,000 or 2.4% to $35,620,000 from $36,497,000 for the same quarter in 2022[103]. - Net revenues for the three quarters ended June 27, 2023 increased by $789,000, or 0.8%, to $103,799,000 from $103,010,000 for the same period in 2022[139]. Restaurant Sales - Bad Daddy's restaurant sales decreased by $1,087,000 to $26,085,000, negatively affected by the closure of the Cherry Creek location and reduced customer traffic[104]. - Good Times restaurant sales increased by $198,000 to $9,291,000, driven by an average menu price increase of approximately 10.5%[105]. - Bad Daddy's restaurant sales increased by $382,000 to $77,592,000 for the three quarters ended June 27, 2023, primarily due to a 4.4% increase in average menu prices[140]. - Good Times restaurant sales increased by $436,000 to $25,531,000 for the three quarters ended June 27, 2023, driven by a 9.6% increase in average menu prices[141]. Same Store Sales - Same store sales for Bad Daddy's decreased by 1.4%, primarily due to weaker traffic, while Good Times saw an increase of 2.1%[108][109]. - Same store sales for Bad Daddy's increased by 1.8% during the three quarters ended June 27, 2023, while Good Times saw a 4.1% increase[145][146]. Costs and Expenses - Food and packaging costs decreased to $10,923,000, representing 30.9% of restaurant sales, down from 32.4% in the prior year[110]. - Payroll and other employee benefit costs decreased to $11,940,000, accounting for 33.8% of restaurant sales, slightly down from 33.9%[113]. - Occupancy costs increased to $2,432,000, representing 6.9% of restaurant sales, up from 6.6% in the prior year[116]. - Payroll and other employee benefit costs increased by $450,000 to $35,477,000, representing 34.4% of restaurant sales for the three quarters ended June 27, 2023[150]. - Other operating costs increased by $571,000 to $14,129,000, representing 13.7% of restaurant sales for the three quarters ended June 27, 2023[155]. - General and administrative costs decreased by $19,000 to $2,365,000, representing 6.6% of total revenues for the fiscal quarter ended June 27, 2023[124]. - General and administrative costs decreased by $621,000 to $7,040,000 (6.8% of total revenues) for the three quarters ended June 27, 2023, compared to $7,661,000 (7.4% of total revenue) for the same period in 2022[161]. Net Income and Profitability - Net income for the fiscal quarter ended June 27, 2023, was $977,000, compared to $138,000 for the same quarter in 2022[134]. - Net income for the three quarters ended June 27, 2023, was $11,815,000, a significant increase from $147,000 in the same period of 2022[172]. - Income from operations rose to $1,368,000 for the three quarters ended June 27, 2023, compared to $188,000 for the same period in 2022[167]. - Adjusted EBITDA for the three quarters ended June 27, 2023, was $4,353,000, up from $3,980,000 in the same period of 2022[179]. Cash Flow and Financing - Net cash provided by operating activities increased by $289,000 to $4,707,000 for the year-to-date period ended June 27, 2023, compared to $4,418,000 for the same period in 2022[186][187]. - Net cash used in investing activities was $7,572,000 for the three quarters ended June 27, 2023, primarily due to property and equipment purchases of $3,178,000 and net purchases of non-controlling interests of $4,394,000[188]. - Net cash used in financing activities was $2,357,000 for the three quarters ended June 27, 2023, including $1,720,000 for treasury stock purchases and $563,000 in distributions to non-controlling interests[191]. Future Outlook and Growth - The company anticipates opening one new restaurant in August 2023 and is developing a pipeline for growth in 2024 and beyond[97]. - As of June 27, 2023, the company operated a total of 40 Bad Daddy's restaurants and 31 Good Times restaurants[98]. Financial Condition and Ratios - The company had a working capital deficit of $6,421,000 as of June 27, 2023, but expects sufficient capital to meet operational needs throughout fiscal 2023[180]. - The company is required to maintain various financial condition ratios under the Cadence Credit Facility, including a minimum liquidity and an amended maximum leverage ratio[184]. Inflation and Economic Factors - The company experienced significant inflationary pressures, particularly in commodity prices and labor costs, impacting profitability management strategies[193][194][195]. - The company has historically used menu price increases to manage profitability during inflationary periods, but current inflation rates exceed what can be reasonably passed to customers[195]. - Seasonal fluctuations in revenues are expected, particularly affecting restaurant sales in Colorado during December to March[196]. Other Costs - Preopening costs for the fiscal quarter ended June 27, 2023, were $80,000, compared to no preopening costs for the same quarter in 2022[121]. - Depreciation and amortization costs decreased by $74,000 to $919,000 for the fiscal quarter ended June 27, 2023, from $993,000 in the same quarter of 2022[122]. - Advertising costs increased to $2,423,000 (2.3% of sales) for the three quarters ended June 27, 2023, compared to $2,260,000 (2.2% of total revenue) for the same period in 2022[162]. - The gain on restaurant asset sales and lease termination was $32,000 for the three quarters ended June 27, 2023, down from $666,000 in the same period of 2022[165]. - Impairment costs for long-lived assets were $1,041,000 for the three quarters ended June 27, 2023, compared to $2,056,000 for the same period in 2022[166]. - Interest expense increased to $56,000 during the three quarters ended June 27, 2023, from $41,000 in the same period of 2022[169]. - The interest rate applicable to borrowings under the Cadence Credit Facility was 8.07% as of June 27, 2023[185].

Good Times Restaurants Inc. (NASDAQ:GTIM) Q2 2023 Results Conference Call May 9, 2023 5:00 PM ET Company Participants Ryan Zink - President, CEO Matthew Karnes - SVP, Finance Operator Good afternoon, ladies and gentlemen. Welcome to the Good Times Restaurants Inc. Fiscal 2023 Second Quarter Earnings Call. By now, everyone should have access to the company's earnings release, which is available in the Investors section of the company's Web site. As a reminder, a part of today's discussion will include forwa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 28, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-18590 (Exact Name of Registrant as Specified in Its Charter) NEVADA 84-1133368 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Iden ...

Good Times Restaurants Inc. (NASDAQ:GTIM) Q1 2023 Earnings Conference Call February 2, 2023 5:00 PM ET Company Participants Ryan Zink - President and Chief Executive Officer Matthew Karnes - Senior Vice President, Finance Operator Good afternoon, ladies and gentlemen. Welcome to the Good Times Restaurants Fiscal 2023 First Quarter Earnings Call. By now, everyone should have access to the company’s earnings release, which is available in the Investors section of the company’s website. As a reminder, a part o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer 651 CORPORATE CIRCLE, GOLDEN, CO 80401 (Address of Principal Executive Offices, Including Zip Code) (303) 384-1400 (Registrant's Telephone Number, Including Area Code) Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | --- | --- | --- | | C ...

Good Times Restaurants, Inc. (NASDAQ:GTIM) Q4 2022 Earnings Conference Call December 15, 2022 5:00 PM ET Company Participants Ryan Zink - President & CEO Matthew Karnes - SVP, Finance Conference Call Participants Operator Good afternoon, ladies and gentlemen. Welcome to the Good Times Restaurants Inc. Fiscal 2022 Fourth Quarter Earnings Call. By now, everyone should have access to the company's earnings release, which is available in the Investors section of the company's website. As a reminder, a part of t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 27, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 000-18590 (Exact name of registrant as specified in its charter) | Nevada | 84-1133368 | | --- | --- | | (State or other jurisdiction of incorporation or organization) | (I.R.S. Emp ...

Good Times Restaurants Inc. (NASDAQ:GTIM) Q3 2022 Earnings Conference Call August 11, 2022 5:00 PM ET Company Participants Ryan Zink – President and Chief Executive Officer Matthew Karnes – Senior Vice President-Finance Conference Call Participants Brian Lonergan – UBS Operator Ladies and gentlemen, welcome to the Good Times Restaurants Inc. Fiscal 2022 Third Quarter Earnings Call. By now, everyone should have access to the company’s earnings release, which is available in the Investors section of the compa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 28, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-18590 (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification Number) ...

Good Times Restaurants Inc. (NASDAQ:GTIM) Q2 2022 Results Earnings Conference Call May 5, 2022 5:00 PM ET Company Participants Ryan Zink - Chief Executive Officer Matthew Karnes - Senior Vice President Finance Conference Call Participants Marc Becker - Evercore Operator Good afternoon, ladies and gentlemen. Welcome to the Good Times Restaurants Inc. Fiscal 2022 Second Quarter Earnings Call. By now, everyone should have access to the company's earnings release, which is available in the Investors section of ...