Company: RRGB
Filing Date: 2025-05-29
Form Type: 10-Q
Source: 0001171759-25-000020
Chunk: 42

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-05-29
Form: 10-Q
Item: Part I, Item 8
Chunk 42
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,428 General and administrative expenses26,989 25,842 Selling9,376 13,547 Other segment items(1)676 (3,976)Depreciation and amortization15,434 18,154 Interest expense, net and other7,815 7,168 Income tax expense (benefit)(3)181 Segment net income (loss)$1,249 $(9,460)

(1) Other segment items consists primarily of other charges (gains) and pre-opening costs. 

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ITEM 2.    Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations provides a narrative of our financial performance and condition that should be read in conjunction with the accompanying Condensed Consolidated Financial Statements. References to the first quarter of fiscal 2025 and fiscal 2024 refer to the sixteen weeks ended April 20, 2025 and April 21, 2024, respectively.

Description of Business

Red Robin Gourmet Burgers, Inc., a Delaware corporation, together with its subsidiaries ("Red Robin," "we," "us," "our," or the "Company"), primarily operates, franchises, and develops full-service restaurants with 491 locations in North America. As of April 20, 2025, the Company owned 401 restaurants located in 39 states, and had 90 franchised restaurants in 13 states and one Canadian province. The Company operates its business as one operating and one reportable segment.

Our primary source of revenue is from the sale of food and beverages at Company-owned restaurants. We also earn revenue from royalties and fees from franchised restaurants.

Highlights for the First Quarter of Fiscal 2025, Compared to the First Quarter of Fiscal 2024:

•Total revenues are $392.4 million, an increase of $3.8 million.

•Comparable restaurant revenue(1) increased 3.1%.

•Net income is $1.2 million, compared to a net loss of $9.5 million last year, a $10.7 million increase. 

•Adjusted EBITDA(2) is $27.9 million compared to $13.4 million last year, a 108.2% increase.

•Completed sale of three owned properties during the first quarter for gross proceeds of $5.8 million. 

•Repaid $17.8 million of debt.

(1) Comparable restaurant