Potbelly(US:PBPB)2021-08-05 19:31Financial Performance - Revenue for Q2 2021 reached $97.5 million[6], while the operating loss was ($3.5) million[6] and the net loss was ($3.9) million[6] - Adjusted EBITDA for Q2 2021 was $1.9 million[6] - Same-store sales (SSS) increased by 70% in Q2 2021 compared to 2020[6], approaching 2019 levels with a decrease of only 0.7%[7] - Average Unit Volume (AUV) increased by approximately 24% sequentially[7] - The company expanded its net cash position by approximately $2 million[9] Strategic Initiatives & Future Outlook - The company launched a new tech stack including a new mobile app, website, digital order integration, and Perks loyalty program[6, 12] - The company expects continued comparable sales growth for Q3 and Q4 2021[27] - The company anticipates generating the majority of Adjusted EBITDA during the second half of 2021 and expects enterprise-level profitability[27] - The company is executing a franchise growth plan with 3-5 franchise openings[27] Performance by Shop Type & Service Mode - Suburban and Drive-thru shops continue to show strength, while CBD and airport locations are yet to fully recover[7] - There's a recent mix shift to Dine-In, with In-Shop accounting for 55% of the service mode mix in Q2 2021[23]