Bueno, Gracias. Imagínense esta situación. Patio de una escuela primaria, pleno recreo.No importa si es tu escuela primaria, no importa si es la escuela primaria de tus hijos, pero es el recreo, ese momento de donde los chicos liberan toda su energía. Y en esa energía que se va escuchando, te pones a mirar y empiezas a ver todo lo que va pasando en el patio. De repente ves que hay un grupo de chicos que corren detrás de una pelota por allá.Ves a otro jugando la mancha, quizás más cerca tuyos hay otro saltan ...

Financial Data and Key Metrics Changes - The company reported Q2 revenue of $416 million, representing a 28% increase year-over-year, or $91 million more than the same quarter last year [28] - Adjusted EBITDA for the quarter was $89 million, reflecting a 37% increase, or $24 million more than Q2 of the previous year [31] - Adjusted EPS was $0.26, up from $0.19, marking a 37% increase year-over-year [37] Business Line Data and Key Metrics Changes - Company-operated same shop sales growth was 7.8%, with 5.9% attributed to transaction growth [31] - System same shop sales growth was 6.1%, driven by a 3.7% increase in transactions [29] - The company opened 31 new shops in Q2, bringing the total system shop count to 1,043 [30] Market Data and Key Metrics Changes - System-wide average unit volumes (AUVs) were $2,050,000, consistent with record levels [9] - Approximately 72% of system transactions were attributed to the loyalty program, a five-point increase from the same period last year [19] Company Strategy and Development Direction - The company aims to open at least 160 new shops in 2025, with a long-term goal of reaching 2,029 shops by 2029 [14] - A focus on transaction-driving initiatives includes enhancing category-wide innovation, increasing paid advertising, and emphasizing the Dutch rewards program [15] - The company is expanding its competitive advantages through strategic investments in market planning and operational efficiency [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, citing strong performance and a robust operator pipeline [12][25] - The company is well-positioned to capture additional market share, driven by rising demand for cold beverages and energy drinks [27] - Management raised full-year guidance for total revenues, same shop sales growth, and adjusted EBITDA based on strong Q2 results [39] Other Important Information - The company successfully refinanced its credit facility, securing $650 million in total capacity, enhancing liquidity for long-term growth [37] - Labor costs were 26.6% of company-operated shop revenue, showing a favorable year-over-year change due to sales leverage [34] Q&A Session Summary Question: CPG strategy for next year - Management indicated that the CPG rollout will focus on areas where shops are located, with early rollout expected in 2026 [42][43] Question: Update on speed and throughput initiatives - Management noted ongoing efforts in labor deployment and the introduction of speed dashboards to improve throughput [48][49] Question: Market specifics on new shop productivity - New shop productivity remains elevated, with strong results across various markets, including a new shop in Georgia [51][52] Question: Innovation and resource allocation - Management described innovation as a mix of art and science, focusing on customer testing and market trends to maintain competitive advantage [54][56] Question: Mobile order mix expectations - The mobile order mix is currently at 11.5%, with some newer markets exceeding this average, and management is optimistic about future growth [60][61] Question: Food program rollout decision - The phased rollout of the food program is to ensure proper training and equipment installation in shops [65][66] Question: Q3 performance and marketing strategy - Management confirmed strong underlying traffic trends entering Q3, with plans for a more normalized marketing approach [71][72] Question: Mobile order contribution to transaction growth - Mobile order is driving transaction growth, particularly in the morning daypart, with a focus on enhancing customer experience [78][80] Question: Marketing spend efficiency - Management is currently on the lower end of marketing spend as a percentage of sales but sees potential for increased efficiency [92][95]