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Good Times(GTIM) - 2025 Q1 - Quarterly Results
GTIMGood Times(GTIM)2025-02-06 21:05

Financial Performance - Total revenues for the first fiscal quarter increased by 9.6% to 36.3millioncomparedto36.3 million compared to 33.2 million in the same quarter of fiscal 2024[11] - Net income attributable to common shareholders was 0.2million,asignificantimprovementfromanetlossof0.2 million, a significant improvement from a net loss of 0.6 million in the same quarter of the previous year[11] - Adjusted EBITDA for the quarter was 1.2million,reflectingpositiveoperationalperformance[11]−Restaurant−leveloperatingprofitforQ12025was1.2 million, reflecting positive operational performance[11] - Restaurant-level operating profit for Q1 2025 was 4,130,000, up from 3,762,000inQ12024,representinga9.83,762,000 in Q1 2024, representing a 9.8% increase[21] - Adjusted EBITDA for Q1 2025 was 1,209,000, compared to 510,000inQ12024,indicatingasignificantincreaseof136.1510,000 in Q1 2024, indicating a significant increase of 136.1%[22] - Net income for Q1 2025 was reported at 164,000, a turnaround from a net loss of 556,000inQ12024[22]OperationalMetrics−SamestoresalesforBadDaddy′srestaurantsincreasedby1.5556,000 in Q1 2024[22] Operational Metrics - Same store sales for Bad Daddy's restaurants increased by 1.5%, while Good Times restaurants remained unchanged compared to the first quarter of fiscal 2024[11] - Bad Daddy's restaurant operating profit margin improved to 12.6% from 10.7% year-over-year, driven by better labor productivity and lower beef costs[19] - Good Times restaurant operating profit margin decreased to 8.6% from 13.5% year-over-year, primarily due to increased staffing costs[19] Revenue Sources - Franchise and other revenues increased to 368,000 in Q1 2025 from 211,000inQ12024,markingagrowthof74.5211,000 in Q1 2024, marking a growth of 74.5%[21] Expenses - General and administrative expenses rose to 2,588,000 in Q1 2025, compared to 2,338,000inQ12024,reflectinganincreaseof10.72,338,000 in Q1 2024, reflecting an increase of 10.7%[21] - Depreciation and amortization expenses for Q1 2025 were 1,016,000, slightly higher than 929,000inQ12024[22]−InterestexpenseforQ12025was929,000 in Q1 2024[22] - Interest expense for Q1 2025 was 46,000, up from 32,000inQ12024,whichisa43.832,000 in Q1 2024, which is a 43.8% increase[22] Future Outlook - The company plans to introduce new menu items and improvements, maintaining a strong product pipeline for both brands[6] - The second fiscal quarter has faced challenges due to unfavorable weather conditions affecting sales[5] Financial Position - Cash and cash equivalents as of December 31, 2024, were 3.0 million, down from 3.9millionattheendofthepreviousfiscalyear[18]−Totalassetsincreasedto3.9 million at the end of the previous fiscal year[18] - Total assets increased to 89.5 million from $87.1 million as of September 24, 2024[18] Adjusted Metrics - The company emphasizes that Adjusted EBITDA is a useful measure for assessing operating performance without the impact of non-cash charges[25] - The company excludes restaurant closure costs and impairment costs from restaurant-level operating profit to better reflect ongoing operational efficiency[21] - The financial metrics presented may not be comparable to those of other companies due to variations in capital structures and accounting practices within the industry[25]