Financial Data and Key Metrics Changes - Total system-wide sales for the quarter were $170.7 million, a 3.3% decrease from the previous year [13] - Total revenue was $82.3 million, down 1.6% from $83.7 million in the prior year [14] - Net loss for the quarter was $24.5 million, compared to $16.2 million in the previous year [17] - Adjusted EBITDA increased to $3 million, compared to $2.3 million in the prior year [17] Business Line Data and Key Metrics Changes - Twin Peaks revenue was $50.3 million, up 5.3% from $47.8 million in the prior year, driven by new lodge openings [14] - Smoky Bones revenue was $32 million, down 10.8% from $35.9 million in the prior year, reflecting the strategic conversion of locations [15] - Twin Peaks restaurant-level contribution margin increased 72 basis points to 17% [16] - Smoky Bones restaurant-level contribution margin was negative 0.3%, down from positive 0.3% in the previous year [16] Market Data and Key Metrics Changes - Comparable sales for Twin Peaks declined by 4.1%, influenced by immigration-related issues in the San Antonio market [14] - System-wide weekly sales averaged $11.3 million over the past 12 weeks, indicating steady performance despite external headwinds [7] Company Strategy and Development Direction - The company is focused on operational excellence, strengthening margins, and positioning for sustained growth [3] - A strategic conversion program is underway to transform underperforming Smoky Bones locations into high-performing Twin Peaks lodges [9] - The company has identified 19 prime conversion candidates for transformation into Twin Peaks lodges [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full annual equity target range to support debt reduction and growth investments [18] - The upcoming fourth quarter is expected to benefit from a strong sports calendar, including college football playoffs [18] - Operational improvements and cost discipline initiatives are anticipated to continue driving margin expansion [18] Other Important Information - The company has strengthened its executive team with key appointments and promotions to enhance operational performance [4][5] - A new partnership with Camp Hope supports veterans struggling with PTSD, reflecting the company's commitment to community engagement [11] Q&A Session Summary - No questions were taken following the prepared remarks, concluding the conference call [2][20]