Fat Brands Pref Share FATBP 8.25 12/31/49 | 8-K: FY2025 Q3 Revenue: USD 140.01 M

LB filings
2025.11.05 21:25
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Revenue: As of FY2025 Q3, the actual value is USD 140.01 M.

EPS: As of FY2025 Q3, the actual value is USD -3.39.

EBIT: As of FY2025 Q3, the actual value is USD -15.6 M.

Segment Revenue

  • Royalties: $21.6 million for Q3 2025, down from $22.4 million in Q3 2024.
  • Restaurant Sales: $96.6 million for Q3 2025, down from $99.2 million in Q3 2024.
  • Advertising Fees: $9.1 million for Q3 2025, down from $9.7 million in Q3 2024.
  • Factory Revenues: $9.6 million for Q3 2025, slightly up from $9.5 million in Q3 2024.
  • Franchise Fees: $1.5 million for Q3 2025, down from $2.6 million in Q3 2024.
  • Other Revenue: $1.5 million for Q3 2025, with no comparable figure for Q3 2024.

Operational Metrics

  • Net Loss: $58.2 million for Q3 2025, compared to $44.8 million in Q3 2024.
  • Negative EBITDA: -$7.7 million for Q3 2025, compared to positive $1.7 million in Q3 2024.
  • Adjusted EBITDA: $13.1 million for Q3 2025, down from $14.1 million in Q3 2024.
  • Loss from Operations: $17.4 million for Q3 2025, compared to $8.8 million in Q3 2024.

Cash Flow

  • Dividend Pause: Preserving $35-$40 million in annual cash flow.
  • Interest Expense: $41.5 million for Q3 2025, compared to $35.5 million in Q3 2024.

Unique Metrics

  • Co-Branding Initiatives: The first dual-branded Round Table Pizza and Fatburger location in California has more than doubled weekly sales and transactions compared to its prior standalone format.
  • System-Wide Sales: $567.5 million for Q3 2025, compared to $600.7 million in Q3 2024, reflecting a decline.
  • Same-Store Sales Decline: -3.5% system-wide.

Outlook / Guidance

  • FAT Brands is focused on strategic expansion with approximately 900 committed locations expected to contribute $50-$60 million in incremental EBITDA once fully operational.
  • The company plans to accelerate the build-out of a 1,000+ unit new store pipeline and drive adjusted EBITDA growth by approximately $10 million from new stores and $5 million from factory operations.
  • FAT Brands aims to maintain strong liquidity and continue building net asset value for future liquidity events, such as debt reduction.
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