Ark Restaurants Announces Financial Results for the Fourth Quarter and Fiscal Year Ended 2025

Core Viewpoint - Ark Restaurants Corp. reported a net loss for the fourth quarter and fiscal year ended September 27, 2025, primarily due to ongoing litigation expenses and challenging market conditions, particularly in Washington D.C. and Las Vegas [2][5][14]. Financial Performance - The adjusted EBITDA for the quarter was $(1,071,000), a decline from $503,000 in the same quarter last year [2][7]. - The net loss for the quarter was $(1,919,000) or $(0.53) per share, compared to a net loss of $(4,457,000) or $(1.24) per share in the prior year [2][7]. - Total revenues for the quarter were $37,323,000, down from $43,406,000 in the same quarter last year [4]. - For the fiscal year, total revenues were $165,751,000, a decrease from $183,545,000 in the previous year [5]. Operational Insights - The company faced a 10.1% decrease in same-store sales for the quarter and a 4.2% decrease for the fiscal year, largely due to reduced catering and a la carte revenue at the Bryant Park Grill [6]. - The operations at the New York-New York Hotel and Casino in Las Vegas showed increased cash flow despite lower customer traffic [2]. Litigation and Lease Issues - The ongoing litigation related to the Bryant Park operations has significantly impacted revenue and cash flow, with the Bryant Park Grill and Café accounting for approximately 15.4% of total revenue in the current fiscal year [2][14]. - The leases for the Bryant Park Grill & Café and The Porch at Bryant Park expired in 2025, and the company is currently involved in a dispute regarding lease renewals [10][11]. Balance Sheet and Debt - As of September 27, 2025, the company had cash and cash equivalents of $11,324,000 and total outstanding debt of $3,609,000, indicating a strong balance sheet to support future growth [3].