Financial Performance - Total revenues for the first fiscal quarter increased by 9.6% to $36.3 million compared to $33.2 million in the same quarter of fiscal 2024[11] - Net income attributable to common shareholders was $0.2 million, a significant improvement from a net loss of $0.6 million in the same quarter of the previous year[11] - Adjusted EBITDA for the quarter was $1.2 million, reflecting positive operational performance[11] - Restaurant-level operating profit for Q1 2025 was $4,130,000, up from $3,762,000 in Q1 2024, representing a 9.8% increase[21] - Adjusted EBITDA for Q1 2025 was $1,209,000, compared to $510,000 in Q1 2024, indicating a significant increase of 136.1%[22] - Net income for Q1 2025 was reported at $164,000, a turnaround from a net loss of $556,000 in Q1 2024[22] Operational Metrics - Same store sales for Bad Daddy's restaurants increased by 1.5%, while Good Times restaurants remained unchanged compared to the first quarter of fiscal 2024[11] - Bad Daddy's restaurant operating profit margin improved to 12.6% from 10.7% year-over-year, driven by better labor productivity and lower beef costs[19] - Good Times restaurant operating profit margin decreased to 8.6% from 13.5% year-over-year, primarily due to increased staffing costs[19] Revenue Sources - Franchise and other revenues increased to $368,000 in Q1 2025 from $211,000 in Q1 2024, marking a growth of 74.5%[21] Expenses - General and administrative expenses rose to $2,588,000 in Q1 2025, compared to $2,338,000 in Q1 2024, reflecting an increase of 10.7%[21] - Depreciation and amortization expenses for Q1 2025 were $1,016,000, slightly higher than $929,000 in Q1 2024[22] - Interest expense for Q1 2025 was $46,000, up from $32,000 in Q1 2024, which is a 43.8% increase[22] Future Outlook - The company plans to introduce new menu items and improvements, maintaining a strong product pipeline for both brands[6] - The second fiscal quarter has faced challenges due to unfavorable weather conditions affecting sales[5] Financial Position - Cash and cash equivalents as of December 31, 2024, were $3.0 million, down from $3.9 million at the end of the previous fiscal year[18] - Total assets increased to $89.5 million from $87.1 million as of September 24, 2024[18] Adjusted Metrics - The company emphasizes that Adjusted EBITDA is a useful measure for assessing operating performance without the impact of non-cash charges[25] - The company excludes restaurant closure costs and impairment costs from restaurant-level operating profit to better reflect ongoing operational efficiency[21] - The financial metrics presented may not be comparable to those of other companies due to variations in capital structures and accounting practices within the industry[25]
Good Times(GTIM) - 2025 Q1 - Quarterly Results