Good Times(US:GTIM)2026-02-05 21:08Revenue Performance - Net revenues for the quarter ended December 30, 2025 decreased by $3,627,000 or 10.0% to $32,706,000 from $36,333,000 for the quarter ended December 31, 2024[81]. - Bad Daddy's restaurant sales decreased by $2,876,000 to $23,202,000 for the quarter ended December 30, 2025, primarily due to the closure of one restaurant and an additional week in the prior fiscal quarter[82]. - Good Times restaurant sales decreased by $716,000 to $9,171,000 for the quarter ended December 30, 2025, driven by an additional week in the prior fiscal quarter and competitive pressures[83]. Same Store Sales - Same store sales for Bad Daddy's decreased by 1.2% during the fiscal quarter ended December 30, 2025, impacted by discounts and reduced customer traffic[86]. - Same store sales for Good Times decreased by 3.1% during the quarter ended December 30, 2025, primarily due to increased competition and reduced customer traffic[87]. Cost Management - Food and packaging costs for the quarter ended December 30, 2025 decreased by $1,522,000 to $9,841,000, representing 30.4% of restaurant sales[88]. - Payroll and other employee benefit costs decreased by $1,573,000 to $11,210,000, representing 34.6% of restaurant sales for the quarter ended December 30, 2025[91]. - Occupancy costs decreased by $174,000 to $2,509,000, representing 7.8% of restaurant sales for the quarter ended December 30, 2025[94]. - Depreciation and amortization costs decreased by $78,000 to $940,000 for the quarter ended December 30, 2025, compared to $1,018,000 in the same quarter of the previous year[100]. - General and administrative costs decreased by $533,000 to $2,055,000 (6.3% of total revenues) from $2,588,000 (7.1% of total revenues) for the quarter ended December 30, 2025[101]. Profitability - Income from operations increased to $300,000 for the quarter ended December 30, 2025, compared to $77,000 in the same quarter of the previous year[106]. - Net income for the quarter ended December 30, 2025, was $198,000, an increase from $174,000 in the same quarter of the previous year[109]. - Adjusted EBITDA for the quarter ended December 30, 2025, was $1,261,000, slightly down from $1,262,000 in the same quarter of the previous year[116]. Cash Flow and Capital Management - Net cash provided by operating activities was $1,421,000 for the quarter ended December 30, 2025, compared to a net cash used of $518,000 in the same quarter of the previous year[122]. - Net cash used in investing activities decreased significantly to $187,000 for the quarter ended December 30, 2025, from $1,846,000 in the same quarter of the previous year[124]. - The company reported a working capital deficit of $8,247,000 as of December 30, 2025[119]. Advertising and Interest Expenses - Advertising costs for Good Times increased to $574,000 (6.2% of total revenues) for the quarter ended December 30, 2025, compared to $298,000 (3.0% of total revenues) in the same quarter of the previous year[104]. - Interest expense increased to $51,000 during the quarter ended December 30, 2025, compared with $46,000 during the same quarter of the previous year[107]. Strategic Outlook - The company continues to pursue unit growth opportunities while adopting a more conservative approach to leverage due to the current economic environment[76]. - There were no preopening costs in the fiscal quarter ended December 30, 2025, compared to $8,000 in the prior year related to training for new restaurant acquisitions[99].