Q2 total revenues were $283.7 million, down $16.5 million year-over-year, with comparable restaurant revenue down 3.2% and net income improving to $4.0 million from a net loss last year.
Adjusted EBITDA for Q2 rose 64% to $22.4 million, with year-to-date Adjusted EBITDA up 86% to $50.3 million.
The First Choice Plan and new value offerings, such as the Big Yum! meal, are credited for improved labor efficiency, guest satisfaction, and traffic growth.
14 company-owned locations closed since Q2 2024, with 397 company-owned and 90 franchised restaurants as of July 13, 2025.
Strategic investments continue in marketing, technology, and restaurant upgrades to support future growth.
Restaurant-level operating profit margin improved to 14.5% in Q2 2025 from 11.8% last year, driven by labor efficiency and cost controls.
Q2 net income was $4.0 million (diluted EPS $0.21), compared to a net loss of $9.5 million (diluted EPS $(0.61)) last year.
Adjusted EBITDA for Q2 was $22.4 million, up from $13.6 million in Q2 2024.
Ended the quarter with $24.4 million in cash, $9.2 million in restricted cash, and $37.5 million in available credit; total liquidity was $61.9 million.
Restaurant revenue for Q2 2025 was $279.3 million, down 5.1% year-over-year; franchise revenue fell 25.7%.
Fiscal 2025 revenue guidance is $1.2 billion, down from prior $1.21–$1.23 billion.
Comparable restaurant sales expected to decline 3–4% for the remainder of 2025.
Restaurant-level operating profit margin guidance remains at 12–13%.
Adjusted EBITDA guidance maintained at $60–$65 million.
Capital expenditures expected at the high end of $30 million, focused on restaurant upgrades.
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