Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $142 million, a 6.5% decrease from $152 million in the same period last year [11][28] - Adjusted EBITDA was $11.1 million compared to $18.2 million in the previous year [12][30] - Net loss attributable to FAT Brands was $46 million or $2.73 per diluted share, compared to a net loss of $38.3 million or $2.37 per share in the prior year [29] Business Line Data and Key Metrics Changes - System-wide sales were $571.1 million, down 1.8% compared to the previous year's quarter [12] - Casual Dining segment saw same store sales increase approximately 1.6%, driven by Buffalo's Cafe and Ponderosa and Bonanza locations [13] - Factory revenue decreased by about 7% [50] Market Data and Key Metrics Changes - Domestic system-wide sales outperformed international sales, although there was a rebound in international locations towards the end of Q1 [12] - Digital sales at Roundtable Pizza increased by 5% sequentially from Q4 2024 to Q1 2025 [15] Company Strategy and Development Direction - The company is focused on expanding its brand presence with over 1,000 new locations in the pipeline and evaluating strategic acquisitions [13][16] - A remodeling initiative aims to refresh 5% of all stores in 2025, increasing to 10% in 2026 [17] - The company is enhancing production capabilities at its Georgia facility, targeting increased utilization from 40-45% to 60-70% [24] Management's Comments on Operating Environment and Future Outlook - Management noted that consumer confidence is mixed, with consumers being apprehensive and focused on value [38] - The company is committed to debt reduction and leveraging growth opportunities, with a focus on maximizing shareholder value [27] - Management expressed confidence in achieving full annual equity target raises despite current market volatility [10][42] Other Important Information - The company has temporarily paused FAT's common dividend and started accruing the FAT Series B preferred dividend [10] - The spin-off of Twin Hospitality Group Inc. was completed, allowing shareholders to invest directly in Twin Peaks growth [7] Q&A Session Summary Question: Impact of cookie facility utilization increase - Management aims to increase the facility's revenue from $15 million to $25 million annually with improved contracts [32][36] Question: Consumer focus on value - Management indicated that consumers are looking for great food and experiences to justify prices, and this trend is expected to continue [39][40] Question: Delay in equity raise post-Twin Peaks IPO - Management stated that there are no immediate pressures, and they are waiting for market conditions to improve [41][42] Question: Year-over-year impact of Smoky Bones - Management estimated a couple million dollars negative impact from Smoky Bones on adjusted EBITDA [66] Question: Timeline for new CEO search - The executive search for a new CEO is progressing well, with several excellent candidates [72] Question: Incremental adjusted EBITDA from new stores and factory - Management expects the additional $15 million in adjusted EBITDA to materialize over the next couple of years [73]

Financial Data and Key Metrics Changes - Coinbase reported Q1 revenue of $2 billion with adjusted EBITDA of $930 million, indicating resilience in a challenging macro environment [4] - Transaction revenue was $1.3 billion, down 19% quarter over quarter, while subscription and services revenue grew 9% to an all-time high of $698 million [21][24] - Adjusted net income for Q1 was $527 million, with total operating expenses at $1.3 billion, up 7% [25][26] Business Line Data and Key Metrics Changes - Global derivatives trading volume reached over $800 billion, with a significant market share increase driven by international exchanges [9] - Consumer trading volume was $78 billion, down 17%, while institutional trading volume was $315 billion, down 9% [22] - USDC market cap hit an all-time high of $60 billion, with average USDC held in Coinbase products increasing by 49% quarter over quarter to $12 billion [11][12] Market Data and Key Metrics Changes - Coinbase secured new licenses in Argentina and India, enhancing its international expansion efforts [12] - The average balance of USDC per holder has tripled over the last two years, indicating strong growth in stablecoin adoption [24] Company Strategy and Development Direction - Coinbase aims to be the leading financial services platform globally, leveraging cryptocurrency to enhance economic freedom [5][7] - The acquisition of Derabit positions Coinbase as the number one crypto derivatives platform globally by open interest, enhancing its international trading capabilities [10][31] - The company is focused on driving utility for the next wave of crypto adoption through emerging products and services [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties and maintaining a long-term product roadmap [26] - The dismissal of the SEC lawsuit against Coinbase was highlighted as a significant win for the industry, promoting balanced regulation [19] - Management anticipates continued growth in subscription and services revenue, despite potential declines in trading revenue due to market conditions [28] Other Important Information - Coinbase's adjusted net income metric was introduced to provide clearer insights into profitability, excluding tax-adjusted impacts of crypto investment portfolio gains or losses [25] - The company is actively pursuing M&A opportunities to solidify its market leadership, with a strong balance sheet to support future acquisitions [111] Q&A Session Summary Question: Any plans on share buybacks? - The board authorized a $1 billion share repurchase program, but the focus is on opportunistic capital deployment, including the recent acquisition of Derabit [32][33] Question: What are Coinbase's future plans regarding crypto reserve assets? - Coinbase allocates a percentage of net income to strategic investments in crypto assets, with a recent purchase of $150 million predominantly in Bitcoin [34][35] Question: What opportunities do you see from a growing TAM perspective? - Increased regulatory clarity is expected to benefit Coinbase, allowing it to capture more market share and partner with new entrants in the crypto space [36][41] Question: Can you discuss the Derabit acquisition and its impact? - The acquisition strengthens Coinbase's position in the options market, enhancing profitability and providing cross-selling opportunities [45][48] Question: How does Coinbase view the entry of traditional banks into the crypto space? - Coinbase sees potential partnerships with traditional banks, providing infrastructure and services as they integrate crypto into their offerings [61][65] Question: What is Coinbase's long-term vision? - Coinbase aspires to be the leading financial services app globally, focusing on trading and payments across various customer segments [70][72] Question: How does Coinbase plan to navigate macroeconomic uncertainty? - The company prepares for various market scenarios and remains confident in its ability to invest in growth even in a bear market [115]

Nu Skin Enterprises (NUS) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants B.G. Hunt - Vice President - Treasurer, Admin Services & Investor RelationsRyan Napierski - CEO and PresidentJames Thomas - CFO & EVP Operator Good day, and thank you for standing by. Welcome to the Q1 twenty twenty five News and Enterprises Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. Please be adv ...

Serve Robotics (SERV) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Aduke Thelwell - Head of IR & CommunicationsAli Kashani - Co-Founder & CEOBrian Read - CFO Operator Thank you for standing by, and welcome to Serve Robotics First Quarter twenty twenty five Earnings Conference Call. Please be advised that today's conference call is being recorded. I would now like to hand the conference to your host, Head of Communication and Investor Relations, Aduk Thawel. Please go ahead. Aduke Thel ...

ZipRecruiter (ZIP) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Emilio Sartori - VP, Finance & Investor RelationsIan Siegel - CEO & Member of the Board of DirectorsDavid Travers - PresidentTimothy Yarbrough - EVP & CFO Conference Call Participants Ralph Schackart - Research Analyst - Technology, Media and CommunicationsJosh Chan - Executive Director - Equity Research AnalystTrevor Young - Analyst Operator Good afternoon, and thank you for standing by. My name is John, and I will be yo ...

American Coastal Insurance (ACIC) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Karin Daly - VP Investor RelationsBennett Bradford Martz - President & CEOSvetlana Castle - Chief Financial OfficerGregory Peters - Managing DirectorBill Dezellem - Founder, President & Chief Investment Officer Operator As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to your host, Karen Daley with The Equity Group. Please go ahead, Karen. Karin Daly Thank you, Ke ...

Theravance Biopharma (TBPH) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Rick Winningham - CEORhonda Farnum - Chief Business Officer and Senior VP of Commercial & Medical AffairsAziz Sawaf - SVP - Operations & Strategy and CFOAine Miller - SVP - Development & Head of Ireland Office Conference Call Participants Marc Frahm - AnalystNone - Analyst Operator Hello, ladies and gentlemen. Good afternoon. I would like to welcome everyone to the Theravance Biopharma First Quarter twenty twenty ...

Eastman Kodak Company (KODK) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Anthony Redding - Chief Audit Executive, Chief Compliance Officer, & Director of Investor Relations (Interim)James Continenza - Executive Chairman & CEODavid Bullwinkle - CFO & Senior VP Operator Good day, and thank you for standing by. Welcome to the Eastman Kodak Quarter One Earnings Conference Call. At this time, all participants are in a listen only mode. Please be advised that today's conference is being re ...

Vasta Platform (VSTA) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Cesar Silva - Chief Financial OfficerGuilherme Mélega - CEOJessica Mehler - Equity Research AssociateLucas Dai Nagano - Equity Research Associate Operator Ladies and gentlemen, this is the operator. Today's conference is scheduled to begin momentarily. Until that time, your lines will remain on music hold. Thank you for your patience. Thank you for standing by. My name is Kathleen, and I will be your conference operato ...

Karat Packaging (KRT) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Roger Pondel - CEOAlan Yu - Chairman, Co-Founder & CEOJian Guo - CFO & DirectorLarson Rice - Equity Research Associate Conference Call Participants Ryan Meyers - Senior Research Analyst Operator Good afternoon, and welcome to Carrot Packaging's twenty twenty five First Quarter Conference Call. All participants will be in a listen only mode for the duration of the call. And should you need any assistance today, please s ...