Achieved strongest traffic performance since Q1 2023 and highest Q1 restaurant operating profit margin since 2021, driven by guest engagement, operational initiatives, and new menu launch.
Big Yummm value platform, targeted marketing, and menu innovation supported guest satisfaction, incremental traffic, and check growth.
Operational discipline and labor efficiency initiatives resulted in significant cost savings and enhanced guest experience.
Net loss was $2.2 million, compared to net income of $1.2 million in Q1 2025, reflecting a $3.4 million decrease.
Adjusted EBITDA was $27.3 million, a 2.1% decrease year-over-year.
Q1 2026 total revenues were $378.3 million, down $14.1 million (3.6%) year-over-year due to restaurant closures and lower comp sales.
Restaurant-level operating margin improved by 50 basis points to 14.8%, the highest Q1 margin in five years.
Comparable restaurant revenue decreased 0.6%, with a 1.0% increase in average check and a 1.6% decrease in traffic.
Adjusted net income per diluted share was $0.13, down from $0.19 in Q1 2025.
General and administrative costs decreased by $4 million to $23 million, while selling expenses increased to $13 million.
Fiscal 2026 guidance reaffirmed: comparable restaurant revenue growth of 0.5%–1.5%, restaurant-level operating margin around 13%, and Adjusted EBITDA between $70 million and $73 million.
Capital expenditures projected at $25–$30 million for the year.
Guidance excludes potential impact from refranchising initiatives.
Management expects current cash, future cash flows, and borrowing capacity to be sufficient for anticipated needs over the next 12 months.
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