Company: RRGB
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051046
Chunk: 66

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 66
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 the third quarter. 

Interest Expense

Interest expense for the third quarter of fiscal 2025 and fiscal 2024 was $6.0 million and $6.3 million, respectively. The $0.3 million decrease was primarily due to less debt in the third quarter of fiscal 2025 compared to the third quarter of fiscal 2024, offset partially by an increase in the weighted average interest rate to 14.3% in the third quarter of fiscal 2025 compared to 14.0% in the third quarter of fiscal 2024. Average outstanding debt was $174.4 million and $191.6 million for the third quarter of fiscal 2025 and fiscal 2024, respectively.

Interest expense for the year to date period of fiscal 2025 and fiscal 2024 was $19.9 million and $18.9 million, respectively. The $1.0 million increase was primarily due to an increase in the weighted average interest rate to 14.2% in the year to date period of fiscal 2025 compared to 13.3% in the year to date period of fiscal 2024. Average outstanding debt was $180.3 million and $185.2 million for the year to date periods of fiscal 2025 and fiscal 2024, respectively.

Income Tax Provision (Benefit)

Income tax provision was $0.3 million in the third quarter of fiscal 2025, compared to an income tax benefit of $0.1 million in the third quarter of fiscal 2024. 

Income tax provision was $0.2 million in the year to date period of fiscal 2025 compared to an income tax provision of $0.0 million in the year to date of period of fiscal 2024.

The taxes recognized are immaterial as the Company has net operating losses and tax credits to reduce current taxes and a full valuation allowance against all deferred taxes, which collectively minimize the taxes paid and recognized. 

22

Non-GAAP Financial Measures

A reconciliation of Restaurant revenue to restaurant level operating profit is detailed in the table below:

Twelve Weeks EndedForty Weeks Ended(Dollars in thousands)October 5, 2025October 6, 2024Increase(Decrease)October 5, 2025October 6, 2024Increase(Decrease)Restaurant revenue$260,909 $270,605 (3.6)%$926,024