Financial Data and Key Metrics Changes - Total revenue increased by 25.6% year-over-year, reaching $316 million in Q3 2025, driven by strong same-restaurant sales growth of 7.1% and positive traffic growth of 2.6% [20][21] - Restaurant-level operating profit margin improved to 19.7%, an increase of 80 basis points compared to the same quarter last year [23] - Adjusted EBITDA rose to $34.1 million, up $8.5 million from the previous year, with an adjusted EBITDA margin of 10.8% [23][24] Business Line Data and Key Metrics Changes - The company opened 21 new system-wide restaurants in Q3 2025, with 18 being company-owned and 3 franchise-owned, bringing the total to 620 system-wide restaurants [24] - Newly opened restaurants performed exceptionally well, with some locations achieving opening week sales exceeding 185% of the average [10][24] Market Data and Key Metrics Changes - Traffic growth in the third-party delivery channel increased significantly, contributing over 3% to same-restaurant sales in the quarter [55] - The month of September marked the highest rate of same-restaurant sales growth for the year, coinciding with the launch of the fall seasonal menu [22] Company Strategy and Development Direction - The company aims to open 63-64 new restaurants in 2025, representing nearly 11% system-wide growth, with a focus on maintaining a strong market position in daytime dining [5][12] - A strategic emphasis on second-generation sites has been noted, with about 50% of new openings in 2025 being second-generation locations [39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate a challenging environment while maintaining strong growth, emphasizing a long-term focus on market position and traffic growth over short-term margin protection [6][19] - The company updated its guidance for same-restaurant sales growth to approximately 4% and total revenue growth to 20-21% for the remainder of the year [25] Other Important Information - The company has been recognized as America's number one most loved workplace for two consecutive years, highlighting its commitment to employee satisfaction and culture [15] - Enhanced marketing investments have shown positive results, with plans to expand marketing efforts in 2026 based on insights gained from current campaigns [16][34] Q&A Session Summary Question: Can you help us deconstruct the traffic results? - Management noted that both in-restaurant and off-premise channels contributed to traffic growth, with improvements in restaurant dining observed [30] Question: What is helping bolster results at new openings? - The success of new openings is attributed to prime locations, effective marketing strategies, and operational excellence [31][32] Question: What are your plans to expand marketing efforts in 2026? - While specific plans for 2026 were not disclosed, management expressed optimism about expanding marketing initiatives based on successful campaigns in 2025 [34] Question: Can you elaborate on the impact of marketing on sales trends? - Management indicated that awareness has increased steadily, contributing to consistent results across geographies [46] Question: What is the outlook for commodity and labor inflation? - Management expects commodity inflation to be approximately 6% and labor inflation to be around 4% for the upcoming year [25][57]

Core Insights - Shake Shack has increased its general and administrative budget allocation towards marketing, particularly for promotions like the $1 drinks and Dubai Chocolate Shake [3][4] - The company reported a significant increase in G&A expenses from $35.7 million in Q3 2024 to $44.4 million in Q3 2025, with approximately $8.7 million attributed to marketing efforts [4] - The $1 drinks promotion led to a 50% increase in app downloads, indicating a successful strategy to drive consumer engagement [4][5] Financial Performance - Shake Shack achieved a 4.9% same-store sales growth in Q3 2025, supported by a 1.3% increase in traffic [8] - The increase in traffic is linked to the brand's advertising spending, operational improvements, and a strong value proposition [8] Market Performance - Geographic performance varied, with Southern, Midwestern, Western, and Southern regions showing same-store sales growth of 7% or more, while the Northeastern region saw only a 1% increase and New York City-area sales dropped by 1% [6] - Florida, Denver, Houston, and San Francisco are highlighted as strong markets for Shake Shack, with plans for expansion in these areas due to recent traffic increases [7] Customer Engagement - The company plans to launch a new loyalty program next year, which is expected to enhance customer spending and frequency of visits [5] - Customers who engage with the app tend to increase their frequency of visits to nearly four times a year [5]

Financial Data and Key Metrics Changes - For Q3, the group revenue was $1.8 billion, reflecting a year-on-year growth of 4.6% and organic revenue growth of 3.4% [2][8] - North America showed organic growth of 3.4%, with pest control services growing by 1.8%, an improvement from 0.3% in Q2 [3][6] - The customer retention rate increased to 80.9%, up from the half-year stage [5] Business Line Data and Key Metrics Changes - Pest control organic revenue growth for the group was 3.4%, driven by strong performance in North America [7] - Hygiene and well-being grew by 3% organically, an improvement from 0.9% in the first half [8] - North America business services organic revenue growth was particularly strong at 11.9% in Q3 [3] Market Data and Key Metrics Changes - International revenue grew by 4.6%, with organic growth of 3.3%, particularly strong in southern European markets [7] - The Pacific region's growth remained below average due to adverse weather impacts [7] Company Strategy and Development Direction - The company is focused on enhancing lead generation and customer retention through a revised North America strategy [4] - Plans to open 150 satellite branches this year are on track, with 139 already operational [5] - Cost efficiency initiatives are expected to deliver $100 million in cost reductions by the end of 2026 [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the continued positive trends and expects to deliver financial results for the full year in line with market expectations [2][8] - The company noted that Q4 is seasonally quieter and anticipates a 60 basis point impact on organic growth due to the non-repeat of one-off emergency mosquito control work [6][9] Other Important Information - The company completed three M&A deals in the quarter, bringing the total for the year to 21, with annualized revenue of around $39 million from these acquisitions [8] - Net debt at the end of the quarter was reported at $3.9 billion [8] Q&A Session Summary Question: Can you discuss the contract portfolio net gain improvement performance in Q3? - Management noted that both jobbing and contract portfolio growth improved, with net gain being the best seen in a while [13][14] Question: How did residential, commercial, and permit performance compare? - Improvements were seen across all areas, with termite performance particularly better in Q3 compared to H1 [15][16] Question: What is the balance between lowering prices to gain market share and pushing through price increases? - The pricing strategy is sophisticated, focusing on identifying opportunities rather than a blanket increase [22] Question: Can you discuss progress on levers to improve free cash flow? - There are opportunities in working capital and capital expenditure to drive free cash flow [24] Question: What are the expectations for growth in the next quarter? - Management refrained from making precise forecasts but expressed satisfaction with lead flow improvements [30] Question: Can you clarify the net gain calculation? - Net gain reflects customer retention, price increases, and new business, with a focus on maintaining momentum in the contract portfolio [80][82]

Marketing & Advertising Industry Trends - Digital marketing accounts for 75% of the global advertising industry, highlighting its dominance [4] - AI has completely transformed the advertising business, particularly with the rise of platforms like TikTok [9] - The industry is shifting towards unconnected content, driven by AI's ability to rank content based on semantic understanding [10][11] AI & Data Utilization - AI-powered ads provide very high double-digit percentage uplifts in performance when leveraging tools like advantage plus shopping campaigns [11] - Companies must adhere to clear laws and platform policies regarding the purpose, use, and limitation of data [6] - Personalization is key, and younger generations understand how to manage their algorithms and appreciate relevant, personalized content [6][7] Growth & Innovation - Incremental growth should be measured by the lift achieved beyond what would have happened without specific actions [2] - The biggest risk is not taking advantage of AI and data-driven advertising, as seen in Europe's regret over current regulations and slower growth [8] - Creativity in marketing now involves using data to create amazing personalized experiences and high conversion rate flows [12][13]

Core Points - Thumzup Media Corporation has extended its share repurchase program window from September 30, 2025, to October 31, 2025, allowing for the repurchase of up to $10 million in common stock based on market conditions and other considerations [1][2] - The company completed an initial $1 million share repurchase program in September 2025, acquiring 212,432 shares at a weighted average price of $4.71 per share [2] - Thumzup is expanding its treasury strategy to include leading cryptocurrencies such as Dogecoin, Litecoin, Solana, Ripple, Ether, and USD Coin, alongside its existing Bitcoin strategy [3] Company Strategy - The CEO of Thumzup emphasized the importance of balancing long-term strategy with prudent capital allocation, indicating a commitment to returning value to shareholders through stock repurchases when deemed attractive [2] - The company is positioning itself as a disruptor in the digital asset and advertising industry, focusing on financial innovation and digital marketing [3] Financial Overview - The authorized share repurchase program allows Thumzup to buy back shares based on its cash reserves and cash flows, reflecting a strategic approach to capital management [1][2] - The completion of the initial repurchase program indicates a proactive approach to managing shareholder value and market presence [2]

Core Points - Thumzup Media Corporation has announced a $10 million share repurchase program, extending through December 31, 2026, following the completion of a $1 million buyback program in September 2025 [1][3] - The company has repurchased 212,432 shares for approximately $1 million at a weighted average price of $4.71 per share as of September 19, 2025 [2] - Thumzup's digital asset treasury strategy includes holding 19.106 Bitcoins and approximately 7.5 million Dogecoins, alongside plans to acquire DogeHash Technologies, Inc., a dogecoin mining operation [3][4] Share Repurchase Program - The board of directors approved a $10 million share repurchase program, reflecting confidence in the company's long-term strategy and commitment to shareholder value [1][3] - The initial $1 million share repurchase was completed successfully, indicating a proactive approach to managing shareholder returns [1][2] Digital Asset Strategy - Thumzup is strategically accumulating digital assets, including Bitcoin and Dogecoin, to enhance its treasury management [3][5] - The planned acquisition of DogeHash, which has 2,500 mining rigs and an additional 1,000 scheduled for delivery, aims to strengthen Thumzup's position in cryptocurrency mining [3][4] Future Outlook - The company emphasizes a balanced approach that combines digital asset accumulation with infrastructure investment, positioning itself for sustained growth [3]

Core Viewpoint - Thumzup Media Corporation has initiated a public offering of its Series D Non-Voting Convertible Preferred Stock to fund cryptocurrency accumulation, mining equipment, working capital, and general corporate purposes [1]. Group 1: Offering Details - The offering is subject to market conditions, and there is no assurance regarding its completion or the actual size and terms [1]. - Dominari Securities LLC is the sole placement agent for the offering [2]. - The offering is made under a shelf registration statement on Form S-3, which was filed with the SEC on May 2, 2025, and declared effective on May 30, 2025 [3]. Group 2: Company Overview - Thumzup Media Corporation is innovating in digital marketing and financial sectors, operating a platform that allows users to earn cash for sharing branded content on social media [6]. - The company has expanded its treasury strategy to include various cryptocurrencies such as Dogecoin, Litecoin, Solana, Ripple, Ether, and USD Coin, indicating a commitment to financial agility [7]. - Thumzup is developing a patent-pending Lifestyle AI Agent Marketplace aimed at enhancing lifestyle planning through AI-powered experiences [7].

Core Insights - European Wax Center, Inc. (EWCZ) is transitioning to a digital-first marketing strategy, showing positive trends in new guest acquisition and optimizing marketing spend through data-driven insights [1][2][3] Marketing Strategy - The company is moving away from traditional marketing to a modern, data-rich approach, enhancing brand identity and leveraging partnerships with digital and social media platforms [2][3] - EWCZ is centralizing marketing functions in-house and utilizing advanced measurement tools to track ad effectiveness, aiming for solid ROI by 2025 [3][4] Guest Engagement - EWCZ is focusing on higher-value, loyal guest segments while also increasing engagement with non-core guests through enhanced email and SMS strategies [4][9] - New guest trends have shown consistent monthly improvement, reinforcing confidence in the company's growth strategy [3] Competitive Landscape - Key competitors include The Estée Lauder Companies Inc. and Coty Inc., both of which are enhancing their digital marketing capabilities and focusing on personalized campaigns [5][6][7] Financial Performance - EWCZ shares have declined by 24.1% year-to-date, contrasting with the industry's drop of only 0.9% [8] - The company trades at a forward price-to-earnings ratio of 9.55X, significantly lower than the industry average of 26.61X [10] - Zacks Consensus Estimate indicates EWCZ's fiscal 2025 and fiscal 2026 earnings per share (EPS) are expected to grow by 35.6% and 8.2% year-over-year, respectively [11][12]

Financial Data and Key Metrics Changes - System wide sales for Q1 fiscal 2025 reached $225.9 million, a 2.1% increase from $221.4 million in the previous year, driven by the shift in the Easter holiday and payment timing [6][23] - Same store sales grew by 70 basis points, but adjusting for the Easter shift, it would have been approximately flat [23] - Adjusted EBITDA increased by 7.2% to $18.8 million from $17.5 million, with an adjusted EBITDA margin rising to 36.5% from 33.7% [25] - Adjusted net income rose by 10.3% to $9.5 million from $8.6 million [26] Business Line Data and Key Metrics Changes - Total revenue decreased by approximately $400,000 or 90 basis points to $51.4 million, primarily due to lower retail and wholesale product revenue [24] - The company ended Q1 with 1,062 centers, representing a 1% growth year over year, with five gross openings and ten closures, resulting in five net center closures [22] Market Data and Key Metrics Changes - The company is experiencing stable trends in mature center transactions year to date, with expectations for flat to positive same store sales growth [29][82] - The macroeconomic environment remains uncertain, but the core guest base has shown resilience [81] Company Strategy and Development Direction - The company aims to focus on driving sales, improving profitability, and reigniting unit growth, emphasizing the importance of a strong marketing engine and franchisee support [9][10][19] - A more sophisticated development approach is being implemented, focusing on profitable expansion and identifying underpenetrated trade areas for future growth [18] - The company is actively exploring alternative sourcing options to mitigate tariff impacts on product costs [31][32] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the uncertain consumer backdrop and supply chain environment but remains confident in the fundamentals of the business model [7][28] - The outlook for 2025 is reiterated, with expectations for system wide sales between $940 million and $960 million, and same store sales expected to be flat to positive 2% [30][34] Other Important Information - The company has made significant progress in assembling a new executive team to execute strategic priorities [20] - The marketing strategy is being refined to better target high-value guests and improve guest engagement [12][14] Q&A Session Summary Question: Can you talk about the game plan going forward and the potential tariff impact? - Management is pleased with progress and sees stability in the business, with no material changes in promotional activity expected [41][44] - The company is actively exploring alternative sourcing options to manage tariff exposure [46][47] Question: What are you hearing from franchisees regarding center closures? - Franchisees are passionate about the brand, and the company is focused on building strong partnerships to improve profitability and minimize closures [50][52] Question: Can you provide insight into the increase in capital investment? - The increase is primarily due to inflationary pressures rather than fundamental changes in the business model [60] Question: What are the key themes for the upcoming franchise convention? - The convention will cover a full situation assessment, opportunities, and a plan to maximize potential [62] Question: How do you prioritize marketing and franchisee execution? - The primary focus is on the marketing funnel and franchisee execution, with ongoing efforts to improve guest experience and profitability [100][101] Question: What is the strategy for dealing with higher input prices due to tariffs? - The company is evaluating all options, including potential price adjustments, but aims to manage costs effectively without compromising the brand [112]

Financial Data and Key Metrics Changes - System wide sales for Q1 2025 were $132.6 million, up 5% compared to Q1 2024, indicating resilience in the current economic environment [10] - Revenue from continuing operations increased by 7% to $13.1 million from $12.2 million in Q1 2024 [27] - Adjusted EBITDA from continuing operations was $46,000, a significant decrease from $425,000 in Q1 2024 [10][29] - Net loss from continuing operations was $506,000, compared to a loss of $399,000 in Q1 2024 [29] Business Line Data and Key Metrics Changes - Comp sales for all clinics open for at least 13 months were up 3% for Q1 2025 and increased to 4% in March 2025 [10][23] - Comp sales for mature clinics (open for at least 48 months) were down 2% [23] - The company refranchised two corporate clinics and opened five franchise clinics during Q1 2025, with a total of 969 clinics, of which 847 (87%) are franchise clinics [25] Market Data and Key Metrics Changes - The company is experiencing a dynamic consumer environment, with consumer sentiment affecting new patient volumes [11][43] - The company anticipates system wide sales for 2025 to be between $550 million and $570 million, compared to $530.3 million in 2024 [31] Company Strategy and Development Direction - The company aims to become a pure play franchisor, with 93% of corporate clinics under Letters of Intent (LOIs) for refranchising [12][49] - The focus is on strengthening core operations, reigniting growth, and improving profitability through dynamic revenue management and enhanced digital marketing strategies [12][18] - The company plans to launch a new marketing campaign centered around pain relief in the second half of the year [36] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the impact of economic headwinds, inflation, and consumer sentiment on operations but remains optimistic about transitioning to a franchise model [33] - The company expects to see a transformative financial impact as corporate clinics transition to franchise royalties and fees, leading to increased profitability [33] Other Important Information - The company has welcomed new executives to enhance legal strategy and patient experience [39] - The Joint has been recognized as one of the fastest-growing franchises and ranked 37th in the Franchise 500 by Entrepreneur Magazine [40] Q&A Session Summary Question: New patient ad metrics and retention trends - Management noted that new patient volumes have been affected by consumer sentiment, but retention rates remain stable [42][44] Question: Metrics on profitability and overhead reduction - Management is not ready to provide specific metrics but expects profitability to improve as G&A expenses are reduced [45][47] Question: Timeline for refranchising process completion - Management intends to exit 2025 as a pure play franchisor and hopes to accelerate the refranchising process [49] Question: Comp sales performance and strategies for mature clinics - Comp sales for mature clinics have been consistent, and operational strategies will be geared towards strengthening these clinics [80][81] Question: Dynamic pricing impact - Management is exploring various pricing models and anticipates that pricing adjustments could significantly impact total system wide sales [60][62] Question: Selling and marketing expenses normalization - Management expects selling and marketing expenses to normalize by Q3 2025 as the transition to a single marketing agency is completed [66] Question: Cost of the franchisee spring convention - The cost of the convention was lower than previous years, impacting the sales and marketing line [75][76]