Revenue Performance - Total revenue decreased by $1.3 million, or 1.6%, to $82.3 million compared to $83.7 million in the same period of 2024[6]. - Company-owned restaurant sales for the thirteen weeks ended September 28, 2025, were $74,358,000, a decrease from $75,599,000 in the same period of 2024[27]. Profitability and Loss - Net loss increased to $24.5 million compared to $16.2 million in the same period of the prior year[10]. - The income from operations for the thirteen weeks ended September 28, 2025, was a loss of $13,365,000, compared to a loss of $3,590,000 in the same period of 2024[27]. - Adjusted EBITDA increased to $3.0 million compared to $2.3 million in the prior year[10]. - Adjusted EBITDA for the thirty-nine weeks ended September 28, 2025, was $13,206,000, down from $16,560,000 in the prior year[26]. Cost Management - General and administrative expenses rose by $12.3 million, or 172.1%, to $19.5 million, primarily due to store closure costs and non-cash impairments[9]. - General and administrative expenses increased to $46,033,000 for the thirty-nine weeks ended September 28, 2025, from $21,160,000 in the prior year[27]. - Labor and benefits costs decreased by $0.9 million, or 3.5%, to $23.9 million, as a percentage of restaurant sales, it was 32.1% in 2025 compared to 32.8% in 2024[8]. - Food and beverage costs decreased by $0.5 million, or 2.3%, to $20.3 million, representing 27.4% of restaurant sales in 2025[7]. Restaurant Performance - Restaurant contribution margin improved to 9.6%, with Twin Peaks at 17.0% and Smokey Bones at (0.3%) compared to 8.7% in the prior year[10]. - The restaurant-level contribution margin for the thirty-nine weeks ended September 28, 2025, was 10.8%, compared to 11.8% for the same period in 2024[27]. - The restaurant-level contribution for the thirty-nine weeks ended September 28, 2025, was $25,071,000, compared to $28,684,000 in the same period of 2024[27]. - Twin Peaks same-store sales declined by 4.1%[10]. Strategic Initiatives - The company closed 11 underperforming Smokey Bones locations and is targeting improved profitability for the brand starting early 2026[4]. - The company plans to expand its pipeline for 2026 with both franchised and company-owned opportunities[4]. Other Expenses - The company incurred store closure expenses of $8,285,000 for the thirty-nine weeks ended September 28, 2025[26]. - The company reported a depreciation and amortization expense of $13,758,000 for the thirty-nine weeks ended September 28, 2025, down from $17,500,000 in the previous year[26]. - The litigation cost for the thirteen weeks ended September 28, 2025, was $850,000, consistent with the prior year[26].

Core Insights - Twin Hospitality Group Inc. reported a solid performance in Q3 2025, with a restaurant-level contribution margin of 17.0% and year-over-year sales growth in core markets despite regional challenges [2][10] - The company is focusing on a conversion strategy that has shown significant results, with Twin Peaks locations outperforming former Smokey Bones operations [3] Financial Performance - Total revenue decreased by $1.3 million, or 1.6%, to $82.3 million compared to $83.7 million in Q3 2024, primarily due to the closure of 11 underperforming Smokey Bones locations and lower same-store sales [6][10] - Twin Peaks same-store sales declined by 4.1%, while system-wide sales decreased by 1.4% [10] - The company reported a loss from operations of $13.4 million, compared to a loss of $3.6 million in the same period last year [10] Costs and Expenses - Food and beverage costs decreased by $0.5 million, or 2.3%, to $20.3 million, representing 27.4% of restaurant sales, slightly down from 27.5% in the previous year [7][10] - Labor and benefits costs decreased by $0.9 million, or 3.5%, to $23.9 million, accounting for 32.1% of restaurant sales, down from 32.8% [8][10] - General and administrative expenses surged by $12.3 million, or 172.1%, to $19.5 million, largely due to store closure costs and higher non-cash share-based compensation [9][10] Profitability Metrics - The restaurant contribution margin was reported at 9.6%, with Twin Peaks at 17.0% and Smokey Bones at (0.3%) [10][28] - Adjusted EBITDA for the quarter was $3.0 million, an increase from $2.3 million in the same period last year [10][26]

Core Viewpoint - Twin Hospitality Group Inc. will host a conference call to discuss its third quarter 2025 financial results on November 5, 2025, at 5:15 PM ET [1] Company Overview - Twin Hospitality Group Inc. operates and franchises casual dining restaurant brands, specifically Twin Peaks and Smokey Bones, aiming to redefine the casual dining experience [4] - Twin Peaks has 114 locations across 26 states and Mexico, known for its made-from-scratch food and sports bar atmosphere [4] - Smokey Bones operates 45 locations in 15 states, specializing in meat-centric dishes, particularly ribs and slow-smoked meats [4] Conference Call Details - The conference call can be accessed via phone or webcast, with a replay available until November 19, 2025 [2][3] - Kim Boerema, CEO, and Ken Kuick, CFO, will host the call [2]

Company Overview - Twin Hospitality Group Inc. is the parent company of Twin Peaks Restaurant and Smokey Bones, focusing on redefining the casual dining category with experiential-driven brands [3] - Twin Peaks operates 114 locations across 27 states and Mexico, known for its made-from-scratch food and sports bar atmosphere [3] - Smokey Bones has 45 locations across 15 states, specializing in meat-centric dishes such as ribs and slow-smoked meats [3] Recent Developments - Noble Capital Markets has initiated company-sponsored equity research coverage on Twin Hospitality Group [1] - The full report by Noble Capital Markets Senior Research Analyst, Joe Gomes, is available on Channelchek [1] Corporate History - FAT Brands Inc. executed the strategic spin-out of Twin Hospitality Group earlier this year, separating its restaurant brands into Twin Hospitality Group Inc. [2] Research and Investment - Noble Capital Markets is a full-service investment bank and advisory firm with a strong research team, having published over 45,000 equity research reports [4] - Channelchek, launched by Noble in 2018, provides free institutional-quality research to the public, featuring over 7,000 public emerging growth companies [5]

As filed with the Securities and Exchange Commission on October 17, 2025. Registration No. 333-290752 Twin Hospitality Group Inc. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of Registrant as specified in its charter) Delaware 5812 99-1232362 (State or other jurisdiction of incorporation or organization) AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identific ...

Core Insights - Twin Hospitality Group Inc. has appointed Melissa Fry as Chief Marketing Officer, bringing over 25 years of marketing experience in the restaurant and hospitality sectors [1][3] - The company is strategically enhancing its executive team to support its growth trajectory, with nearly 100 Twin Peaks units in the development pipeline [2] Company Overview - Twin Hospitality Group Inc. operates and franchises specialty casual dining concepts, including Twin Peaks and Smokey Bones, aiming to redefine the casual dining category [5] - Twin Peaks has 114 locations across 27 states and Mexico, known for its scratch-made food and sports bar atmosphere, while Smokey Bones operates 51 locations specializing in meat-centric dishes [5] Leadership and Strategy - CEO Kim Boerema emphasizes the importance of Fry's experience in experiential dining and her ability to drive traffic and guest engagement [4] - The leadership changes, including the recent appointments of Ken Brendemihl and Lexi Burns, are designed to position the company for ambitious expansion [2] Marketing Initiatives - Fry's previous role at Hooters involved comprehensive marketing strategies that included national media campaigns and digital transformation, which will be leveraged to enhance Twin Hospitality's brand awareness and guest engagement [3] - The company aims to create synergies between Twin Peaks and Smokey Bones while maintaining each brand's unique identity [4]

As filed with the Securities and Exchange Commission on October 7, 2025. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Twin Hospitality Group Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Delaware 5812 99-1232362 (I.R.S. Employer Identification No.) 5151 Belt Line ...

Group 1: Company Commitment and Contributions - Twin Peaks Restaurant has donated over $530,000 to the Tunnel to Towers Foundation since 2022, demonstrating a strong commitment to supporting U.S. military members, veterans, and first responders [1][2] - From September 11 to November 11, Twin Peaks will donate a portion of lunch sales every Monday through Friday to the Tunnel to Towers Foundation [1] Group 2: Partnership with Tunnel to Towers Foundation - The Tunnel to Towers Foundation, founded in honor of FDNY firefighter Stephen Siller, provides mortgage-free homes for Gold Star families and specially adapted smart homes for injured veterans and first responders [2][7] - Twin Peaks aims to build a community that supports military and first responders through its partnership with the Tunnel to Towers Foundation [3] Group 3: Additional Support for Military and First Responders - Many Twin Peaks locations offer a 20% food discount daily to military veterans and first responders, with some locations featuring special promotions like Military Mondays [3] - On Veterans Day, November 11, 2025, all veterans and active-duty service members can enjoy a free lunch from a select menu [3] Group 4: Company Overview - Twin Hospitality Group Inc. operates Twin Peaks, which has 114 locations in the U.S. and Mexico, focusing on redefining the casual dining experience with an emphasis on sports and hospitality [5][6]

Core Insights - Twin Hospitality Group Inc. has appointed Lexi Burns as Chief People Officer, responsible for human resources and organizational development for both Twin Peaks and Smokey Bones [1][2][3] - Lexi Burns has been instrumental in the growth of Twin Peaks from 13 locations in 2010 to 114 locations currently, focusing on operational systems and training programs [2][3] - The CEO of Twin Hospitality Group, Kim Boerema, expressed confidence in Lexi's ability to enhance the culture and performance of both brands through her new role [3] Company Overview - Twin Hospitality Group Inc. operates and franchises casual dining restaurant concepts, aiming to redefine the casual dining category with experiential brands like Twin Peaks and Smokey Bones [4] - Twin Peaks is recognized as a sports lodge with 114 locations across 27 states and Mexico, offering made-from-scratch food and a unique beverage program [4] - Smokey Bones operates 51 locations across 16 states, specializing in meat-centric dishes, particularly ribs and other slow-smoked meats [4]

Core Insights - Twin Hospitality Group Inc. has appointed Ken Brendemihl as President of Smokey Bones, effective immediately, bringing over 25 years of restaurant leadership experience [2][3] - The company is undergoing a strategic review to eliminate inefficiencies and refocus on high-return initiatives, including the closure of underperforming units and conversion of select locations [3][4] Company Strategy - Twin Hospitality has identified 19 Smokey Bones restaurants for conversion into Twin Peaks lodges, with two conversions already completed, generating average unit volumes (AUVs) of approximately $7.8 million compared to $3.5 million as Smokey Bones [4] - The company has closed ten underperforming Smokey Bones locations and plans to close five more by the end of the fiscal third quarter, which is expected to enhance EBITDA performance by removing approximately $1.5 million in corporate overhead [5] Financial Performance - The remaining 26 Smokey Bones locations are generating positive cash flow, contributing approximately $3.0 million to total EBITDA on a trailing 12-month basis, with AUVs ranging from $1.3 million to $7.1 million [6] - The company plans to leverage FAT Brands' franchise model to begin franchising a portion of the remaining Smokey Bones locations, aiming to create a more balanced corporate-to-franchise mix and unlock additional growth potential [6]