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Twin Hospitality Group (TWNP) investor relations material

Twin Hospitality Group Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary5 Nov, 2025

Executive summary

  • Focused on operational excellence, margin improvement, and sustainable growth since new leadership in May, with early momentum expanding restaurant-level contribution margin and resilience in core markets despite regional headwinds.

  • Strengthened executive team with key hires and promotions to drive performance at both Twin Peaks and Smokey Bones, including new management at Smokey Bones.

  • Strategic conversion of underperforming Smokey Bones units to Twin Peaks lodges is underway, with early conversions more than doubling revenue.

Financial highlights

  • System-wide sales were $170.7 million, down 3.3% year-over-year; total revenue was $82.3 million, down 1.6%.

  • Twin Peaks revenue rose 5.3% to $50.3 million, while Smokey Bones revenue fell 10.8% to $32 million due to closures and conversions.

  • Net loss widened to $24.5 million from $16.2 million year-over-year, primarily due to store closure reserves and asset impairments.

  • Adjusted EBITDA increased to $3 million from $2.3 million; Twin Peaks Adjusted EBITDA was $7.2 million, Smokey Bones -$3.8 million.

  • Restaurant-level contribution margin improved to 9.6% (Twin Peaks 17.0%, Smokey Bones -0.3%) from 8.7% (Twin Peaks 16.3%, Smokey Bones 0.3%).

Outlook and guidance

  • Expect continued margin expansion and benefit from a strong sports calendar in Q4.

  • Confident in achieving annual equity targets to support debt reduction and growth investments.

  • Robust pipeline of conversions and new openings planned for 2026, with 82 committed Twin Peaks lodges and both franchised and company-owned expansion opportunities.

  • Smokey Bones is targeted to achieve improved restaurant-level profitability beginning in early 2026 following closures and management changes.

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Frequently asked questions

Twin Hospitality Group Inc is a Canada-based company operating in the hospitality sector. The company is involved in the development, ownership, and management of restaurants and related food service businesses. Its activities include brand development, menu design, and operational oversight aimed at delivering dining experiences across various concepts and formats. Twin Hospitality Group focuses on both standalone establishments and potential franchise models. The company is headquartered in Toronto, Canada, and its shares are listed on the CSE.

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