Company: BTBDW
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001477932-25-008407
Chunk: 36

Company: BT Brands, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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, depreciation, and amortization), which is not a measure defined by GAAP. This non-GAAP operating measure is useful to both management and investors because it represents one means of gauging the overall profitability of our recurring and controllable core restaurant operations. However, this measure is not indicative of our overall results, nor does the restaurant-level profit accrue directly to the benefit of stockholders, primarily due to the exclusion of corporate-level expenses. Depreciation and amortization are excluded. Restaurant-level EBITDA for the thirteen weeks ending September 28, 2025, was $822,760 (21.3% of revenues), compared to $472,172 (10.9% of revenues) in 2024. This non-GAAP metric reflects a significant improvement in controllable restaurant-level profitability, driven by better labor and cost controls, selective menu price increases, and efficiency improvements across operating units.

  39 Weeks Ended,  13 Weeks Ended,    September 28, 2025  September 29, 2024  September 28, 2025  September 29, 2024 Revenues $10,864,445  $11,649,610  $3,853,682  $4,348,824 Reconciliation:                Income (loss) from operations  367,725   (894,383 )  735,042   (75,011 )Depreciation and amortization  452,130   473,420   151,010   141,527 (Gain) loss on sale of assets  (242,231 )  30,205   (242,231 )  30,205 General and administrative, corporate-level expenses  1,160,480   1,284,871   178,839   375,451 Restaurant-level EBITDA  $1,738,104  $894,113  $822,660  $472,172 Restaurant-level EBITDA margin   16.0%  7.7%  21.3%  10.9%

Restaurant-level EBITDA for both the 13-week and the 39-week periods ended September 28, 2025, showed significant improvement over the prior year. This non-GAAP metric reflects stronger operational performance and improved cost controls, demonstrating continued progress in the Company