BJ’s(BJRI)2024-05-02 20:02Revenue and Sales Performance - Total revenues decreased by 1.2% to 7.7 million in Q1 2024, up from 29.4 million in Q1 2024, compared to 58.0 million in Q1 2024 from 18.8 million as of April 2, 2024, down from $29.1 million at the start of the year[6] Non-GAAP Financial Measures - The company reports non-GAAP financial results, including restaurant level operating margin, which excludes certain operating costs and is used as a supplemental measure of restaurant performance[30] - Restaurant level operating margin is calculated as revenues less direct operating costs (cost of sales, labor and benefits, and occupancy and operating costs)[30] - Adjusted EBITDA is another non-GAAP financial measure used by the company[32] - A reconciliation of income from operations to restaurant level operating margin for Q1 2024 and Q1 2023 is provided[37] - A reconciliation of net income to Adjusted EBITDA for Q1 2024 and Q1 2023 is provided[38] - Non-GAAP measures are not a substitute for GAAP measures and may differ from those used by other companies[28] - Management believes non-GAAP measures like restaurant level operating margin highlight core business trends not apparent in GAAP measures[30] Operational and Financial Reporting Details - The company operates through dine-in, take-out, delivery, and large party catering services[33] - Financial data is presented in thousands of dollars[35] - Percentages in the financial data represent percent of total revenues and may not reconcile due to rounding[34]