Financial Data and Key Metrics Changes - System-wide sales increased by 5.1% to $146.2 million, driven by new company-owned restaurants [8] - Total revenue decreased by 5.4% to $87.1 million compared to $92.1 million in the prior year [18] - Net loss for the quarter was $12.1 million, compared to a loss of $9.2 million in the previous year [25] Business Line Data and Key Metrics Changes - Twin Peaks revenue increased by 5.9% to $51 million, while Smoky Bones revenue decreased by 17.8% to $36.1 million [19] - Same store sales for Twin Peaks decreased by 1.5%, with a 2.7% decline at company-owned locations and a 1% decline at franchise locations [9] - Restaurant level contribution margin for Twin Peaks decreased to 16.9% from 17.4% in the prior year [23] Market Data and Key Metrics Changes - Franchise revenue remained steady at $8.7 million, offsetting declines in same store sales [20] - Alcohol sales comprised nearly 50% of restaurant revenue, significantly higher than typical casual dining competitors [12] Company Strategy and Development Direction - The company plans to open three to four new units in 2025, with a robust development pipeline of 100 franchise agreements [7][11] - A strategic barbell pricing approach is being utilized to cater to various customer segments while maintaining value [13] - The company is focusing on major sporting events for marketing, enhancing customer engagement through promotions [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges from weather and macroeconomic factors impacting same store sales [9] - The company is optimistic about upcoming promotional calendars and major sporting events to drive traffic [9][15] - Management expressed confidence in achieving full annual equity target raise despite current market volatility [25][26] Other Important Information - Twin Peaks was awarded the Black Box Intelligence 2025 Voice of the Customer Award, highlighting strong brand loyalty and customer experience [16][17] - The company is undergoing a strategic conversion of Smoky Bones locations into Twin Peaks lodges, which is expected to enhance performance [19] Summary of Q&A Session - No questions were taken following the prepared remarks, and the call concluded without a Q&A session [3][27]
Twin Hospitality Group Inc-A(TWNP) - 2025 Q1 - Earnings Call Transcript