Results through Q4 2025 PRESENTATION INVESTOR Peter Hoetzinger, Co CEO & President FORWARD-LOOKING STATEMENTS This presentation may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995. Century Casinos, Inc. (together with its subsidiaries, the "Company", "we", "us", "our") may make other written and oral co ...

Financial Data and Key Metrics Changes - In Q4 2025, the company generated $1.5 billion in funded loan volume and $44 million in revenue, representing year-over-year increases of 56% in loan volume and 77% in revenue [20][21] - For the full year 2025, funded loan volume reached $4.7 billion, up 32% year-over-year, while revenue increased by 52% to $165 million [22][31] - The company achieved a loan processing cost of approximately $800 per loan, significantly lower than industry averages [24][66] Business Line Data and Key Metrics Changes - The Tinman AI platform generated $646 million in volume in Q4 2025, accounting for over 40% of total volume, surpassing prior guidance of $600 million [21] - By product, refinance grew by 119%, home equity increased by 78%, and purchase rose by 14% in 2025 [32] - The contribution margin improved from approximately $1,800 to $2,300 per loan quarter-over-quarter [33] Market Data and Key Metrics Changes - The total residential funded loan volume in the industry increased by 4% year-over-year, while the company's funded loan volume grew by 56% over the same period [21] - The company expects to reach $1 billion in monthly loan volume by May 2026, indicating strong market positioning [22][35] Company Strategy and Development Direction - The company is transitioning from a direct-to-consumer model to an AI-native platform that powers the broader mortgage ecosystem, which is expected to enhance volume potential and marginal economics [29][30] - Partnerships with major players like Credit Karma and OpenAI are central to the company's strategy, aiming to leverage their large customer bases for growth [19][30] - The company is focused on reducing operational costs and improving customer acquisition costs through its partnerships, which provide embedded distribution advantages [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving Adjusted EBITDA breakeven by the end of Q3 2026, driven by volume growth and improved contribution margins [35] - The company highlighted the importance of adapting to changing market conditions and leveraging AI to enhance operational efficiency [26][27] - Management noted that the mortgage industry is undergoing significant transformation, with a shift towards AI-driven solutions that can lower costs and improve service delivery [18][19] Other Important Information - The company ended Q4 2025 with $227 million in cash and investments, maintaining strong relationships with financing counterparties [34] - The launch of a conversational credit decision engine integrated with ChatGPT is expected to open new distribution channels and enhance customer engagement [15][16] Q&A Session Summary Question: Guidance on Q1 loan volume - Management indicated that the flat guidance for Q1 loan volume is due to seasonality, reflecting growth in the platform [39] Question: Medium-term profitability outlook - Management confirmed the target to reach Adjusted EBITDA profitability by Q3 2026, with a focus on evaluating growth opportunities post-breakeven [40] Question: Partnership metrics and funding expectations - Management noted that approximately 5% of pre-approvals typically convert to funded loans, with variations based on partner integration [48] Question: Credit Karma partnership scope - Currently, the partnership with Credit Karma focuses on refinancing, with plans to expand to HELOC and purchase products [55] Question: Cost to underwrite loans - Management stated that savings from lower underwriting costs are being passed on to borrowers, with competitive rates compared to industry averages [66]

Financial Data and Key Metrics Changes - In Q4 2025, the company generated $1.5 billion in funded loan volume and $44 million in revenue, representing year-over-year increases of 56% in loan volume and 77% in revenue [20][21] - For the full year 2025, funded loan volume reached $4.7 billion and revenue was $165 million, up 32% and 52% year-over-year respectively [22][31] - The company achieved a loan processing cost of approximately $800 per loan, significantly lower than industry averages [24][66] Business Line Data and Key Metrics Changes - The Tinman AI platform generated $646 million in volume in Q4 2025, accounting for over 40% of total volume [21] - By product, refinance grew by 119%, home equity increased by 78%, and purchase rose by 14% in 2025 [32] - The contribution margin improved from approximately $1,800 to $2,300 per loan quarter-over-quarter [33] Market Data and Key Metrics Changes - The overall residential funded loan volume increased by 4% year-over-year, while the company's loan volume grew by 56% [22] - The company has less than 1% market share in a large savings and loan market, indicating significant growth potential [30] Company Strategy and Development Direction - The company is transitioning from a direct-to-consumer model to an AI-native platform that powers the broader mortgage ecosystem [29] - Partnerships with major players like Credit Karma and OpenAI are central to the company's strategy, aiming to reach tens of millions of consumers [19] - The company expects to achieve $1 billion in monthly loan volume by May 2026 and aims for Adjusted EBITDA breakeven by the end of Q3 2026 [22][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory despite macroeconomic challenges, highlighting the resilience of its model [22][30] - The company anticipates that the integration of AI will continue to lower costs and improve efficiency, enhancing its competitive position [25][27] - Management noted that the mortgage industry is undergoing significant changes, with increasing interest from banks and fintechs in leveraging the company's technology [60] Other Important Information - The company has onboarded 28 new loan officer teams onto the Tinman platform in 2025, demonstrating rapid growth in its retail mortgage lender partnerships [11] - The launch of a conversational credit decision engine integrated with ChatGPT is expected to open new distribution channels [15][16] Q&A Session Summary Question: Guidance on Q1 loan volume - The guidance for Q1 loan volume is flat due to seasonality, reflecting growth in the platform [38][39] Question: Medium-term profitability outlook - The target is to reach Adjusted EBITDA profitability by Q3 2026, with a focus on contribution margins of 10%-30% for new partnerships [40] Question: Metrics from pre-approvals to funded loans - The company sees a funding rate of about 5% from pre-approvals, with variations based on partner integration [48][49] Question: Status of stablecoin ecosystem for funding - The company is approximately six months away from implementing stablecoin funding [50][51] Question: Credit Karma partnership scope - Currently, the partnership focuses on refinancing, with plans to expand to HELOC and purchase products [55] Question: Contribution margin comparison - The contribution margin varies by product and partnership, with a focus on achieving profitability through increased penetration rates [79]

Financial Data and Key Metrics Changes - Total GAAP revenue for the full year 2025 was approximately $805 million, representing a 20% year-over-year growth, primarily driven by the inclusion of Benihana for all twelve periods [4] - For Q4 2025, total GAAP revenue was approximately $207 million, a decrease of 6.7% from $222 million in the prior year quarter [20] - Full year 2025 comparable sales declined approximately 3.7%, reflecting continued pressure across the full-service dining segment [5] - Adjusted EBITDA attributable to The ONE Group Hospitality was $28.1 million, a decrease of 9.5% compared to $31 million in the prior year quarter [28] Business Line Data and Key Metrics Changes - Year-to-date, both Benihana and STK reported positive sales, while Kona Grill's turnaround is gaining traction, with transactions positive, representing the best same-store performance for the brand since early 2023 [8] - Consolidated comparable sales for Q4 declined approximately 1.8%, but showed about 4 points of sequential improvement from Q3 [7] - Restaurant operating profit, excluding closed locations, was $38.9 million or 19.5% of owned restaurant net revenue, improving by 10 basis points from the prior year quarter [23] Market Data and Key Metrics Changes - The company noted that consumer confidence remains at historical lows, yet they achieved positive same-store sales, indicating strong execution across their portfolio [7] - Las Vegas managed STK restaurants showed notable improvement quarter to date, reflecting effective marketing strategies [22] Company Strategy and Development Direction - The company aims to accelerate same-store sales through operational excellence, targeting a 1%-3% increase in 2026 [9] - Capital-efficient growth is a priority, with significant asset-light development agreements secured for Benihana locations in California and Florida [14] - The company is focusing on portfolio optimization, having exited six underperforming locations and planning additional conversions to improve returns [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting a strengthened portfolio and expanded franchise capabilities [31] - They acknowledged the impact of external factors like rising gas prices but noted that their guidance is based on current performance trends [47] - The company projects total GAAP revenues between $840 million and $855 million for fiscal year 2026, with expectations of consolidated comparable sales growth of 1%-3% [30] Other Important Information - The company has implemented targeted cost management initiatives, including strategic adjustments to beef sourcing, which have improved margins [22] - A non-cash impairment charge of $7.2 million was recognized, primarily related to the Grille portfolio optimization [25] Q&A Session Summary Question: What are the strategic priorities for Benihana for the balance of this year? - The priority for Benihana includes marketing initiatives, digital engagement, and improving operational efficiency and table turn times [33] Question: What caused the revenue shortfall in Q4 compared to expectations? - The revenue shortfall was attributed to slower table turns at Benihana and the impact of the fiscal calendar shift [41] Question: What are the remaining cost synergies from the Benihana acquisition? - Remaining synergies include improved distribution and beef purchasing power, with ongoing efforts to consolidate other supply costs [44] Question: Have recent world events impacted traffic? - So far, there has been no significant impact on traffic due to rising gas prices, but the situation is being monitored [47] Question: Were there notable regional differences in traffic? - Regional differences in traffic narrowed in Q4, with Las Vegas performing well due to adjusted marketing strategies [51] Question: What is the expected same-store sales guidance for the full year? - The company anticipates a same-store sales increase driven by value offerings, with no immediate short-term pricing actions planned [54] Question: How is the company managing protein costs? - The company is seeing favorable conditions for frozen seafood sourcing and is monitoring other protein costs closely [55] Question: What is the timeline for the conversion of locations? - The company plans to reopen converted locations by mid-2026, with construction cycles expected to be relatively short [59]

Financial Data and Key Metrics Changes - For Q4 2025, revenue was $132.7 million, up from $106.8 million in the prior year, driven by acquisitions and a 0.3% reported organic revenue growth [12] - Full year 2025 total revenue reached $463.4 million, a 16.2% increase year-over-year, primarily due to acquisitions and higher organic revenue [13] - Adjusted EBITDA for Q4 was $36.3 million, compared to $33.1 million in the prior year, marking a 9.7% increase [14] - Full year adjusted EBITDA totaled $127.1 million, up 25% from $101.7 million in the previous year [14] - Free cash flow for Q4 was $10.1 million, down from $18.4 million in the prior year, while full year free cash flow was $34.3 million, compared to $37.0 million in 2024 [15][16] Business Line Data and Key Metrics Changes - Reported organic revenue growth for the full year was 1.1%, but if acquisitions were included in 2024, organic revenue growth would have been 4.8% [5][13] - The company focused on reshaping its portfolio to increase exposure to higher growth markets while exiting underperforming brands [6][7] Market Data and Key Metrics Changes - The demand for the company's events remains strong, particularly in the U.S. market, which serves as a key marketplace for both domestic and international participants [9] - The company continues to see solid interest from international exhibitors seeking access to U.S. buyers, presenting opportunities for global customer engagement [9] Company Strategy and Development Direction - The company aims to maintain disciplined execution and build on the strong foundation established across its business in 2026 [10] - Focus areas include organic efficiencies through investments in automation and scalable platforms, as well as selective M&A to strengthen the portfolio [10][11] - The company is actively evaluating strategic options, with no updates to share at this time [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the portfolio and the predictability of earnings, with a positive outlook for 2026 [8][19] - The company expects revenue in the range of $490 million to $495 million and adjusted EBITDA between $137.5 million and $142.5 million for 2026, reflecting approximately 6% revenue and 10% adjusted EBITDA growth year-over-year [19] Other Important Information - The company had $100.9 million in cash as of December 31, 2025, with total liquidity of $210.4 million [18] - A quarterly dividend of $0.015 per share was declared, demonstrating a commitment to returning capital to shareholders [19] Q&A Session Summary Question: Free cash flow conversion for 2026 guidance - Management expects free cash flow to be between $85 million and $90 million, assuming normalized conditions [22][24] Question: Impact of current Middle East situation on travel to trade shows - Management indicated minimal impact, with less than 1% of revenue coming from Middle Eastern exhibitors [26][27] Question: Status of acquisitions and integration - Acquisitions are performing as expected, and integration is on plan [37] Question: Update on Las Vegas Convention Center construction - Construction is completed, and the company expects to cycle past the impacts in 2026 [39] Question: AI initiatives and plans for 2026 - The company is implementing AI agents to improve exhibitor experience and has early signs of success in various business areas [49][50] Question: M&A environment characterization - The M&A environment remains strong, with many opportunities in a fragmented industry [54]

Financial Data and Key Metrics Changes - Total GAAP revenue for the full year 2025 was approximately $805 million, representing approximately 20% growth year-over-year, primarily driven by the inclusion of Benihana for all twelve periods [4] - For the fourth quarter, total GAAP revenue was approximately $207 million, a decrease of 6.7% from $222 million in the prior year quarter [20] - Full year 2025 comparable sales declined approximately 3.7%, reflecting continued pressure across the full-service dining segment [5] - Adjusted EBITDA attributable to The ONE Group Hospitality was $28.1 million, a decrease of 9.5% compared to $31 million in the prior year quarter [28] Business Line Data and Key Metrics Changes - Year-to-date, both Benihana and STK reported positive sales, while Kona Grill's turnaround is gaining traction, with transactions positive, representing the best same-store performance for the brand since early 2023 [8] - Consolidated comparable sales for the fourth quarter declined approximately 1.8%, but all brands demonstrated sequential improvement during the quarter [7] - Restaurant operating profit, excluding closed Grille Concepts, was $38.9 million or 19.5% of owned restaurant net revenue, improving by 10 basis points from the prior year quarter [23] Market Data and Key Metrics Changes - The fourth quarter had one fewer operating day due to a fiscal calendar shift, impacting revenue comparisons [6] - Sales of managed STK in Las Vegas have notably improved quarter to date, indicating regional performance variations [22] Company Strategy and Development Direction - The company aims to accelerate same-store sales through execution, with a target of a 1%-3% increase for 2026 [9] - Capital-efficient growth is a priority, with significant asset-light development agreements secured for Benihana locations [14] - The company is focusing on operational excellence, culinary innovation, and targeted marketing as key pillars for growth [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting a strengthened portfolio and expanded franchise capabilities [31] - Consumer confidence remains low, but the company is seeing positive trends in traffic and sales due to operational initiatives and value offerings [67] - The company projects total GAAP revenues between $840 million and $855 million for fiscal year 2026, reflecting anticipated consolidated comparable sales growth [30] Other Important Information - The company has strategically shifted protein sourcing and contracted beef pricing through September 2026, providing cost certainty and margin improvement [11] - The company plans to open 6-10 new venues in 2026, maintaining capital discipline and focusing on high-quality markets [30] Q&A Session Summary Question: What are the strategic priorities for Benihana for the balance of this year? - The priority for Benihana includes marketing initiatives, digital engagement, and improving operational efficiency and guest experience [33] Question: What caused the revenue shortfall in the fourth quarter? - The revenue shortfall was attributed to slower table turns at Benihana and the impact of the fiscal calendar shift [41][42] Question: What are the remaining cost synergies from the Benihana acquisition? - Remaining synergies include improved distribution, beef purchasing power, and consolidation of other supply costs [44][46] Question: Have recent world events impacted traffic? - So far, there has been no significant impact on traffic, but the situation is being monitored closely [47] Question: Were there notable regional differences in traffic? - Regional differences narrowed in the fourth quarter, with improved performance in Las Vegas due to targeted marketing [51][52] Question: What is the expected same-store sales guidance for the full year? - The guidance includes a pricing increase of around 5%-6% for the year, with a focus on value [53][79] Question: How is the company managing protein costs? - The company is seeing favorable conditions for frozen seafood and is managing other protein costs based on market conditions [55] Question: What is the timeline for the conversion of restaurants? - The company plans to reopen converted restaurants by July 2026, with construction cycles expected to be relatively short [59] Question: What is the outlook for G&A costs? - G&A costs are projected to increase due to anticipated bonuses and operational targets [85]

Q4 2025 Financial Results Presentation 13 March 2026 0 Disclaimer and Forward Looking Statements Disclaimer The financial information and data contained in this presentation is unaudited. This presentation includes certain numerical measures that are not derived in accordance with generally accepted accounting principles in the U.S. ("GAAP"), and which may be deemed to be non-GAAP financial measures within the meaning of Regulation G promulgated by the U.S. Securities and Exchange Commission (the "SEC"). Dy ...

Financial Data and Key Metrics Changes - Total GAAP revenue for the full year 2025 was approximately $805 million, representing a 20% year-over-year growth, primarily driven by the inclusion of Benihana for all twelve periods [4] - For Q4 2025, total GAAP revenue was approximately $207 million, a decrease of 6.7% from $222 million in the prior year quarter [19] - Full year 2025 comparable sales declined approximately 3.7%, reflecting continued pressure across the full-service dining segment [5] - Adjusted EBITDA attributable to The ONE Group Hospitality was $28.1 million, a decrease of 9.5% compared to $31 million in the prior year quarter [27] Business Line Data and Key Metrics Changes - Year-to-date, both Benihana and STK reported positive sales, while Kona Grill's turnaround is gaining traction, with transactions positive, representing the best same-store performance for the brand since early 2023 [6][7] - Consolidated comparable sales for Q4 declined approximately 1.8%, but showed a sequential improvement of about 4 points from Q3 [6] - Restaurant operating profit, excluding closed locations, was $38.9 million or 19.5% of owned restaurant net revenue, improving by 10 basis points from the prior year quarter [23] Market Data and Key Metrics Changes - The company noted that consumer confidence remains at historical lows, yet they achieved positive same-store sales, indicating strong execution across their portfolio [6][7] - Las Vegas locations showed notable improvement, attributed to changes in marketing strategy targeting suburban areas [51] Company Strategy and Development Direction - The company aims to accelerate same-store sales through operational excellence, targeting a 1%-3% increase in 2026 [8] - Capital-efficient growth is a priority, with significant asset-light development agreements secured for Benihana locations in California and Florida [12][13] - The company is focusing on portfolio optimization, having exited six underperforming locations and planning additional conversions to Benihana or STK [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting a strengthened portfolio and expanded franchise capabilities [31] - The company anticipates total GAAP revenues between $840 million and $855 million for fiscal year 2026, with projected consolidated comparable sales growth of 1%-3% [30] - Management acknowledged the impact of rising gas prices on consumer traffic but noted no immediate effects observed [46] Other Important Information - The company has implemented targeted cost management initiatives, including strategic adjustments to beef sourcing, which have improved margins [22][23] - A non-cash impairment charge of $7.2 million was recognized, primarily related to the Grille portfolio optimization [26] Q&A Session Summary Question: What are the strategic priorities for Benihana for the balance of this year? - The focus remains on marketing, digital initiatives, and improving operational efficiency, including menu downsizing and table turn times [33] Question: What caused the revenue shortfall in Q4 compared to expectations? - The shortfall was attributed to slower table turns at Benihana and the impact of the fiscal calendar shift [40] Question: What are the remaining cost synergies from the Benihana acquisition? - Remaining synergies include improved purchasing power for beef and other operational efficiencies [42][43] Question: Have recent world events impacted traffic? - No immediate impact has been observed, but the situation will be monitored closely [46] Question: Were there notable regional differences in traffic? - Differences in traffic across regions narrowed in Q4, with Las Vegas performing better due to targeted marketing [51] Question: What is the expected pricing strategy for the year? - Pricing actions are planned for Q4, with current pricing around 5%-6% for the year [53] Question: How is the company managing protein costs? - The company is seeing favorable conditions for frozen seafood and is managing other protein costs based on market conditions [55] Question: What is the timeline for restaurant conversions? - Conversions are expected to be completed by mid-2026, with construction cycles estimated at six to eight weeks [59] Question: What is the expected sales mix for delivery or off-premises? - The current sales mix for off-premises is in the low double digits, with a goal to increase it to 20% [76]

Better Home & Finance (NasdaqGM:BETR) Q4 2025 Earnings call March 13, 2026 08:30 AM ET Speaker4Ladies and gentlemen, thank you for standing by. My name is Krista, and I'll be your conference operator today. At this time, I would like to welcome you to the Better Home & Finance Holding Company fourth quarter and full year 2025 results conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you'd like to ...

Financial Data and Key Metrics Changes - Fourth quarter net revenues reached RMB 1.14 billion, up 40.3% year-over-year, while total net revenues for the full year grew 44% to RMB 3.96 billion [13] - Gross margin expanded to 31.4% in the fourth quarter, up from 27% a year ago, and for the full year, gross margin increased to 29.9% [13][14] - Non-GAAP operating income doubled to RMB 570 million for the full year, with non-GAAP net income surging to RMB 1.16 billion [14] Business Line Data and Key Metrics Changes - International sales accounted for 76.5% of fourth quarter revenue, indicating a significant shift towards global operations [6] - In the Asia Pacific region, the company captured over 20% of the specialty store channel and increased channel revenue by over 200% [7] Market Data and Key Metrics Changes - Domestic revenue in mainland China grew by over 20% in 2025, driven by stricter customs enforcement reducing the illegal market [9] - The European market is expected to consolidate around established compliant brands, with a positive outlook for 2026 due to new excise taxes favoring compliant operators [26] Company Strategy and Development Direction - The company is focusing on multidimensional global expansion and building a competitive moat in Europe through strategic partnerships and compliance with local regulations [8] - AI integration is a core strategy to enhance operational efficiency and predict consumer preferences, allowing for faster product launches and improved supply chain management [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability and predictability of international business growth for 2026, projecting double-digit growth for the broader industry [19] - The company aims to maintain a strong cash position while selectively deploying capital towards disciplined M&A and strategic investments [21] Other Important Information - The company ended 2025 with total financial assets of RMB 15.73 billion (approximately $2.2 billion), providing financial flexibility for strategic initiatives [15] - Over $500 million has been returned to shareholders through dividends and share repurchases, with plans to continue optimizing capital structure for shareholder returns [20] Q&A Session Summary Question: Expectations for overseas business growth and strategies - Management expects a stable environment for international business in 2026, projecting significant growth faster than the industry average, with a strong pipeline of international markets [19] Question: Update on European operations and outlook for 2026 - European operations have shown resilience despite market contractions, with a positive outlook for 2026 as the industry consolidates around compliant brands [26] Question: Progress of nicotine pouch products and market conditions - Rollouts of modern oral products in Europe have begun, with positive consumer feedback, and the company is focusing on channel expansion for these products [39]