Core Insights - The company reported a strong fourth quarter with total revenue of $53.6 million, reflecting a year-over-year increase of 25.3% supported by 9.3% same-store sales growth [1][6] - For the full year, revenue reached $200.3 million, up 24.5% year-over-year, with adjusted EBITDA of $27.5 million, an increase of 36.2% [3][7] - The company aims to reach 1,000 units by 2035, emphasizing investments in store development and a scalable approach [1][22] Financial Performance - Fourth quarter same-store transaction growth was 4.2%, with 12 new stores opened during the quarter [1] - Store-level profit margins improved to 29.4% in Q4, driven by lower costs and increased customer engagement [2][6] - Full-year store-level profit margins expanded to 29.2% from 27.9% [2] 2026 Guidance - Management projects 36 new store openings in 2026, with revenue expected to be between $255 million and $257 million and consolidated adjusted EBITDA between $33.5 million and $34.5 million [5][26] - Capital expenditures are anticipated to be between $40 million and $41 million, or $58 million to $61 million excluding tenant improvement allowances [5][26] Customer Engagement and Marketing - Loyalty program participation remained at 65%, contributing to increased transaction frequency and customer spending [12] - Digital sales and targeted marketing initiatives supported transaction growth, with a focus on performance-driven strategies [13][11] Operational Improvements - The company has made investments in culture and talent development, resulting in improved team member retention [18] - An inventory management module is in place to enhance cost performance and business acumen [19] Development and Expansion - The company has refined its development pipeline to address delays and improve store opening timelines [20] - The first modular prototype store was opened, aimed at reducing capital expenditures and accelerating store openings [22]