Good Times Restaurants Inc.
For the period ended Jul 1, 2025. Filed Aug 7, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jul 1, 2025 · Filed Aug 7, 2025
GTIM$1.24-2.4%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-04-01; filed 2025-05-08.
0001214659-25-007198
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-07-01; filed 2025-08-07.
0001214659-25-011690
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 123 previous paragraphs and 122 current paragraphs.
36 unchanged; 74 reworded; 12 added; 11 removed; 2 previous and 0 current paragraphs rearranged.
Tables are not compared: 28 previous and 24 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (12)
Current report
Company-Owned/Co-Developed:
Current report
Good Times restaurant sales decreased $59,000 to $10,356,000 for the fiscal quarter ended July 1, 2025 from $10,415,000 for the quarter ended June 25, 2024. This decrease is primarily due to reduced customer traffic and the fourth quarter 2024 closure of one Good Times restaurant, partially offset by the Company’s first quarter 2025 acquisition of two Good Times restaurants previously owned by a franchisee, the same prior year fiscal quarter acquisition of a Good Times restaurant previously owned by a franchisee, and by the temporary closure of one Good Times restaurant for remodel during the prior year quarter. Average menu price for the fiscal quarter ended July 1, 2025 was approximately equal to the same prior-year quarter.
Current report
Bad Daddy’s food and packaging costs were $8,100,000 (30.6% of restaurant sales) for the quarter ended July 1, 2025, down from $8,517,000 (31.2% of restaurant sales) for the quarter ended June 25, 2024. The decrease as a percent of sales is due to lower purchase prices, primarily for chicken wings and potatoes, compared to the prior year quarter, and the impact of the 3.8% increase in menu pricing compared to the prior year, partially offset by increased ground beef costs.
Current report
Bad Daddy’s occupancy costs were $1,602,000 (6.0% of restaurant sales) for the fiscal quarter ended July 1, 2025, down from $1,727,000 (6.3% of restaurant sales)for the fiscal quarter ended June 25, 2024. The decreaseis a result of the fourth fiscal quarter 2024 closure of one Bad Daddy’s restaurant, as well as decreases in non-cash rent for the Bad Daddy’s locations with impaired right-of-use lease assets.
Current report
Good Times occupancy costs were $890,000 (8.6% of restaurant sales) for the quarter ended July 1, 2025, up from $853,000 (8.2% of restaurant sales) in the quarter ended June 25, 2024. Theincrease is primarily due to the Company’s first quarter 2025 acquisition of two Good Times restaurants previously owned by a franchisee and the same prior year fiscal quarter acquisition of a Good Times restaurant previously owned by a franchisee, partially offset by the fourth quarter 2024 closure of one Good Times restaurant.
Current report
Good Times advertising costs were $346,000 (3.3% of total revenues) in the quarter ended July 1, 2025 compared to $301,000 (2.9% of total revenues) in the quarter ended June 25, 2024. The increase is primarily related to social media and agency fees as well as a decrease in product rebates, partially offset by a decrease in radio and streaming media.
Current report
Impairment of Long-Lived Assets Costs. The were no costs associated with impairments for the fiscal quarter ended July 1, 2025, compared to $199,000 for the quarter ended June 25, 2024, which primarily consisted of the impairment of the lease right-of-use asset of one Colorado Bad Daddy’s location.
Current report
Bad Daddy’s food and packaging costs were $23,933,000 (30.9% of restaurant sales) for the three quarters ended July 1, 2025, down from $24,156,000 (31.0% of restaurant sales) for the three quarters ended June 25, 2024. This decrease is primarily attributable to the closure of one Bad Daddy’s restaurant during the fourth quarter of fiscal 2024, lower average unit volumes, and lower purchase prices, primarily for chicken wings and potatoes, partially offset by an additional week in the first fiscal quarter versus the prior year first fiscal quarter and increased ground beef costs. The decrease as a percent of sales is primarily attributable to lower purchase prices, primarily for chicken wings and potatoes, partially offset by increased ground beef costs as well as the impact of the 4.3% increase in menu pricing compared to the prior year-to-date period.
Current report
Good Times food and packaging costs were $9,265,000 (31.3% of restaurant sales) for the three quarters ended July 1, 2025, up from $8,468,000 (30.2% of restaurant sales) for the three quarters ended June 25, 2024. This increase is driven by the first quarter 2025 acquisition of two Good Times restaurants, the third quarter 2024 acquisition of one Good Times restaurant, previously owned by franchisees, the third quarter 2024 temporary closure of one Good Times restaurant for remodel, an additional week in the first fiscal quarter versus the prior year first fiscal quarter, partially offset by the fourth quarter 2024 closure of one Good Times restaurant as well as the first quarter 2025 temporary closure of one Good Times restaurant for remodel. The increase as a percent of sales is primarily attributable to higher purchase prices on ground beef and eggs, partially offset by savings in chicken wing and potato pricing and the impact of the 1.3% increase in menu pricing compared to the prior year-to-date period..
Current report
Bad Daddy’s occupancy costs were $4,980,000 (6.4% of restaurant sales) for the three quarters ended July 1, 2025, down from $5,188,000 (6.7% of restaurant salesfor the three quarters ended June 25, 2024. The decrease was primarily theresult of the fourth fiscal quarter 2024 closure of one Bad Daddy’s restaurant, as well as decreases in non-cash rent for the Bad Daddy’s locations with impaired right-of-use lease assets.
Current report
Provision for Income Taxes. There was a $309,000 benefit from income taxes for the three quarters ended July 1, 2025. There was a $198,000 benefit from income taxes for the three quarters ended June 25, 2024. The most significant driver of the current and prior year benefit was changes in the projections of full-year net income and available tax credits.
Current report
For the three quarters ended July 1, 2025, the income attributable to non-controlling interests was $65,000 compared to $212,000 for the three quarters ended June 25, 2024.
Removed paragraphs (11)
Previous report
Company-Owned/Joint-Venture:
Previous report
Good Times restaurant sales increased $506,000 to $9,323,000 for the quarter ended April 1, 2025 from $8,817,000 for the quarter ended March 26, 2024. This increase is driven by the prior quarter acquisition of two Good Times restaurants, and the third fiscal quarter 2024 acquisition of one Good Times restaurant, previously owned by franchisees, partially offset by the prior quarter closure of one Good Times restaurant as well as the prior quarter temporary closure of one Good Times restaurant for remodel and reduced customer traffic. Average menu pricing during the fiscal quarter ended April 1, 2025 was the same as during the same prior year quarter.
Previous report
Bad Daddy’s food and packaging costs were $7,619,000 (30.7% of restaurant sales) for the quarter ended April 1, 2025, down from $8,031,000 (30.4% of restaurant sales) for the quarter ended March 26, 2024. The increase, as a percentage of sales, is primarily attributable to higher purchase prices, primarily in ground beef, though in general throughout the commodity basket, compared to the prior year quarter, partially offset by the impact of a 4.7% increase in menu pricing.
Previous report
Bad Daddy’s occupancy costs were $1,644,000 (6.6% of restaurant sales) for the quarter ended April 1, 2025, down from $1,743,000 (6.6% of restaurant sales)for the fiscal quarter ended March 26, 2024.
Previous report
Bad Daddy’s food and packaging costs were $15,834,000 (31.1% of restaurant sales) for the two quarters ended April 1, 2025, up from $15,640,000 (30.9% of restaurant sales) for the two quarters ended March 26, 2024. This increase is primarily attributable to an additional week in the first fiscal quarter versus the prior year first fiscal quarter and higher purchase prices on food and paper goods, most significantly ground beef, partially offset by the fourth fiscal quarter 2024 closure of one Bad Daddy’s restaurant and lower restaurant sales during the second fiscal quarter 2025 versus the second fiscal quarter 2024. The increase, as a percent of sales, is primarily attributable to higher purchase prices of food and paper goods, partially offset by the impact of a 4.6% average increase in menu pricing compared to the prior year-to-date period.
Previous report
Good Times food and packaging costs were $6,006,000 (31.3% of restaurant sales) for the two quarters ended April 1, 2025, up from $5,286,000 (30.0% of restaurant sales) for the two quarters ended March 26, 2024. This increase is primarily attributable to the prior quarter acquisition of two Good Times restaurants, and the third fiscal quarter 2024 acquisition of one Good Times restaurant, previously owned by franchisees, and an additional week in the first fiscal quarter versus the prior year first fiscal quarter. The increase as a percent of sales is primarily attributable to higher purchase prices on food and paper goods, most significantly ground beef, partially offset by the impact of a 2.0% average increase in menu pricing compared to the prior year-to-date period.
Previous report
Bad Daddy’s occupancy costs were $3,378,000 (6.6% of restaurant sales) for the two quarters ended April 1, 2025, down from $3,461,000 (6.8% of restaurant sales) for the two quarters ended March 26, 2024.
Previous report
Good Times occupancy costs were $1,888,000 (9.8% of restaurant sales) in the two quarters ended April 1, 2025, up from $1,657,000 (9.4% of restaurant sales) in the two quarters ended March 26, 2024. The increase was primarily due to the prior quarter acquisition of two Good Times restaurants, and the third fiscal quarter 2024 acquisition of one Good Times restaurant, previously owned by franchisees, as well as increased property tax as a result of higher property values, partially offset by the prior quarter closure of one Good Times restaurant.
Previous report
Litigation Contingency Costs. There were no litigation contingency costs in the two fiscal quarters ended April 1, 2025. There was $97,000 of income related to the adjustment of the Company’s litigation contingency reserve in the two quarters ended March 26, 2024. This adjustment was due tothe recognition of $235,000 in contingent liabilities related to routine course of business claims as well as the reversal of our previous contingency reserve of $332,000.
Previous report
Provision for Income Taxes. The provision for income taxes was $54,000 for the two quarters ended April 1, 2025, compared to a $1,000 benefit for the two quarters ended March 26, 2024.
Previous report
For the two quarters ended April 1, 2025, the income attributable to non-controlling interests was $7,000 compared to $135,000 for the two quarters ended March 26, 2024. The $128,000 decrease is due to decreased profitability during the two quarters of the restaurants involved in the partnership.
Reworded paragraphs (74)
Previous wording
**Restaurant Locations.**As of April 1, 2025, we operated, franchised, or licensed a total of forty Bad Daddy’s restaurants and thirty Good Times restaurants. The following table presents the number of restaurants operating at the end of the fiscal quarters ended April 1, 2025 and March 26, 2024.
Current wording
**Restaurant Locations.**As of July 1, 2025, we operated, franchised, or licensed a total of forty Bad Daddy’s and thirty Good Times. The following table presents the number of restaurants operating at the end of the fiscal quarters ended July 1, 2025 and June 25, 2024.
Previous wording
***Net Revenues.***Net revenues for the quarter ended April 1, 2025 decreased $1,169,000 or 3.3% to $34,279,000 from $35,448,000 for the quarter ended March 26, 2024. Bad Daddy’s concept revenues decreased $1,592,000 while our Good Times concept revenues increased $423,000 compared to the same prior year quarter.
Current wording
***Net Revenues.***Net revenues for the fiscal quarter ended July 1, 2025 decreased $925,000 or 2.4% to $37,025,000 from $37,950,000 for the fiscal quarter ended June 25, 2024. Bad Daddy’s concept revenues decreased $795,000 and our Good Times concept revenues decreased $130,000 compared to the same prior year period.
Previous wording
Bad Daddy’s restaurant sales decreased $1,631,000 to $24,817,000 for the quarter ended April 1, 2025 from $26,448,000 for the quarter ended March 26, 2024. This decrease is a result of the fourth fiscal quarter 2024 closure of one Bad Daddy’s restaurant, reduced customer traffic, and a negative mix shift attributable to the success of the Company’s smashed patty burgers, all of which are partially offset by menu price increases. The average menu price increase for the fiscal quarter ended April 1, 2025 over the same prior year quarter was approximately 4.7%.
Current wording
Bad Daddy’s restaurant sales decreased $814,000 to $26,513,000 for the fiscal quarter ended July 1, 2025 from $27,327,000 for the quarter ended June 25, 2024. This decrease is a result of the fourth fiscal quarter 2024 closure of one Bad Daddy’s restaurant, reduced customer traffic, and a negative mix shift attributable to the success of the Company’s smashed patty burgers, all of which are partially offset by menu price increases. The average menu price increase for the fiscal quarter ended July 1, 2025 over the same prior year quarter was approximately 3.8%.
Previous wording
Franchise and other revenues decreased $44,000 to $139,000 in the quarter ended April 1, 2025 compared to $183,000 in the quarter ended March 26, 2024. This decrease is primarily due to reduced royalties earned and collected due to the previously mentioned Good Times restaurant acquisitions from franchisees.
Current wording
Franchise and other revenues decreased $52,000 to $156,000 in the quarter ended July 1, 2025 compared to $208,000 in the quarter ended June 25, 2024. This decrease is primarily due to reduced royalties earned and collected due to the previously mentioned Good Times restaurant acquisitions from franchisees.
Previous wording
Bad Daddy’s same store restaurant sales decreased 3.7% during the quarter ended April 1, 2025 compared to the same thirteen-week period ended March 26, 2024, primarily driven by reduced customer traffic as measured compared to the prior year, most significantly during January and February, partially offset by menu price increases. There were thirty-nine restaurants included in the same store sales base at the end of the current quarter.
Current wording
Bad Daddy’s same store restaurant sales decreased 1.4% during the quarter ended July 1, 2025 compared to the same thirteen-week period ended June 25, 2024, primarily driven by reduced customer traffic, partially offset by menu price increases. There were thirty-nine restaurants included in the same store sales base at the end of the current quarter.
Previous wording
Good Times same store restaurant sales decreased 3.6% during the fiscal quarter ended April 1, 2025 compared to the same thirteen-week period ended March 26, 2024, primarily due to reduced customer traffic driven by significantly unfavorable weather during the quarter compared to the same prior year quarter. There were twenty-seven restaurants included in the same store sales base at the end of the current quarter.
Current wording
Good Times same store restaurant sales decreased 9.0% during the quarter ended July 1, 2025 compared to the same thirteen-week period ended June 25, 2024, primarily due to reduced customer traffic. There were twenty-seven restaurants included in the same store sales base at the end of the current quarter.
Previous wording
Food and Packaging Costs. Food and packaging costs for the fiscal quarter ended April 1, 2025 decreased $122,000 to $10,477,000 (30.7% of restaurant sales) from $10,599,000 (30.1% of restaurant sales) for the fiscal quarter ended March 26, 2024.
Current wording
Food and Packaging Costs. Food and packaging costs for the fiscal quarter ended July 1, 2025 decreased $340,000 to $11,358,000 (30.8% of restaurant sales) from $11,698,000 (31.0% of restaurant sales) for the fiscal quarter ended June 25, 2024.
Previous wording
Good Times food and packaging costs were $2,858,000 (30.7% of restaurant sales) for the quarter ended April 1, 2025, up from $2,568,000 (29.1% of restaurant sales)for the quarter ended March 26, 2024. This increase, as a percentage of sales, is primarily attributable tohigher purchase prices on food and paper goods, primarily in ground beef cost, compared to the prior year quarter without the benefit of any price increase.
Current wording
Good Times food and packaging costs were $3,258,000 (31.5% of restaurant sales) for the quarter ended July 1, 2025, up from $3,181,000 (30.5% of restaurant sales)for the quarter ended June 25, 2024. The increase as a percent of sales is primarily attributable tohigher purchase prices on ground beef and eggs, compared to the prior year quarter, without the benefit of any price increase, partially offset by savings in potato pricing.
Previous wording
Payroll and Other Employee Benefit Costs. Payroll and other employee benefit costs for the quarter ended April 1, 2025 decreased $440,000 to $11,826,000 (34.6% of restaurant sales) from $12,266,000 (34.8% of restaurant sales) for the quarter ended March 26, 2024.
Current wording
Payroll and Other Employee Benefit Costs. Payroll and other employee benefit costs for the quarter ended July 1, 2025 increased $12,000 to $12,647,000 (34.3% of restaurant sales) from $12,635,000 (33.5% of restaurant sales) for the quarter ended June 25, 2024.
Previous wording
Bad Daddy’s payroll and other employee benefit costs were $8,510,000 (34.3% of restaurant sales) for the quarter ended April 1, 2025 down from $9,172,000 (34.7% of restaurant sales) for the quarter ended March 26, 2024. The $662,000 decrease is primarily attributable to the fourth fiscal quarter 2024 closure of one Bad Daddy’s restaurant, decreased restaurant sales during the current quarter versus the same quarter in the prior year, decreased manager salaries , and decreased restaurant-level incentive compensation. As a percent of sales, payroll and employee benefits costs decreased by 0.4% primarily attributable to decreased manager salaries and restaurant-level incentive compensation as well as the impact of a 4.7% increase in menu pricing.
Current wording
Bad Daddy’s payroll and other employee benefit costs were $9,103,000 (34.3% of restaurant sales) for the quarter ended July 1, 2025 down from $9,227,000 (33.8% of restaurant sales) for the quarter ended June 25, 2024. The $124,000 decrease is primarily attributable to the fourth fiscal quarter 2024 closure of one Bad Daddy’s restaurant. The increase as a percent of sales is attributable to decreased labor productivity resulting from the de-leveraging impact of lower sales.
Previous wording
Good Times payroll and other employee benefit costs were $3,316,000 (35.6% of restaurant sales) in the quarter ended April 1, 2025, up from $3,094,000 (35.1% of restaurant sales) in the same prior year period. The $222,000 increase is primarily due to the prior quarter acquisition of two Good Times restaurants, and the third fiscal quarter 2024 acquisition of one Good Times restaurant, previously owned by franchisees, partially offset by the prior quarter closure of one Good Times restaurant. The increase as a percentage of sales is primarily due to higher average wage rates resulting from market forces and the CPI-indexed minimum wage in Denver and the state of Colorado as well as decreased productivity resulting from the de-leveraging impact of lower sales, partially offset by reduced restaurant-level incentive compensation.
Current wording
Good Times payroll and other employee benefit costs were $3,544,000 (34.2% of restaurant sales) in the quarter ended July 1, 2025, up from $3,408,000 (32.7% of restaurant sales) in the same prior year period. Theincrease is primarily due to the Company’s first quarter 2025 acquisition of two Good Times restaurants previously owned by a franchisee, the same prior year fiscal quarter acquisition of a Good Times restaurant previously owned by a franchisee, and the temporary closure of one Good Times restaurant for remodel during the prior year quarter, partially offset by the fourth quarter 2024 closure of one Good Times restaurant. The increase as a percent of sales is primarily due to higher average wage rates resulting from market forces and the CPI-indexed minimum wage in Denver and the state of Colorado as well as decreased productivity resulting from the de-leveraging impact of lower sales, partially offset by reduced restaurant-level incentive compensation.
Previous wording
Occupancy Costs. Occupancy costs for the quarter ended April 1, 2025 decreased $30,000 to $2,583,000 (7.6% of restaurant sales) from $2,613,000 (7.4% of restaurant sales) for the quarter ended March 26, 2024.
Current wording
Occupancy Costs. Occupancy costs for the quarter ended July 1, 2025 decreased $88,000 to $2,492,000 (6.8% of restaurant sales) from $2,580,000 (6.8% of restaurant sales) for the quarter ended June 25, 2024.
Previous wording
Other Operating Costs. Other operating costs for the quarter ended April 1, 2025, increased $23,000 to $5,128,000 (15.0% of restaurant sales) from $5,105,000 (14.5% of restaurant sales) for the quarter ended March 26, 2024.
Current wording
Other Operating Costs. Other operating costs for the quarter ended July 1, 2025, increased $207,000 to $5,402,000 (14.7% of restaurant sales) from $5,195,000 (13.8% of restaurant sales) for the quarter ended June 25, 2024.
Previous wording
Bad Daddy’s other operating costs were $3,666,000 (14.8% of restaurant sales) for the quarter ended April 1, 2025 down from $3,895,000 (14.7% of restaurant sales) for the quarter ended March 26, 2024. The $229,000 decrease was primarily attributable to decreased customer delivery and credit card fees as well as the closure of one Bad Daddy’s restaurant during the fourth quarter of fiscal 2024.
Current wording
Bad Daddy’s other operating costs were $3,895,000 (14.7% of restaurant sales) for the quarter ended July 1, 2025 down from $3,945,000 (14.4% of restaurant sales) for the quarter ended June 25, 2024. The $50,000 decrease was primarily attributable to decreased customer delivery and credit card fees as well as the closure of one Bad Daddy’s restaurant during the fourth quarter of fiscal 2024, partially offset by increased utilities.
Previous wording
Good Times other operating costs were $1,462,000 (15.7% of restaurant sales) in the quarter ended April 1, 2025, up from $1,210,000 (13.7% of restaurant sales) in the quarter ended March 26, 2024. The increase is primarily due to the prior quarter acquisition of two Good Times restaurants, and the third fiscal quarter 2024 acquisition of one Good Times restaurant, previously owned by franchisees, as well as increased repair and maintenance and technology expenses, partially offset by the prior-quarter closure of one Good Times restaurant.
Current wording
Good Times other operating costs were $1,507,000 (14.6% of restaurant sales) in the quarter ended July 1, 2025, up from $1,250,000 (12.0% of restaurant sales) in the quarter ended June 25, 2024. Theincrease is primarily due to the Company’s first quarter 2025 acquisition of two Good Times restaurants previously owned by a franchisee, the same prior year fiscal quarter acquisition of a Good Times restaurant previously owned by a franchisee, as well as increased repair and maintenance and technology expenses, partially offset by the fourth quarter 2024 closure of one Good Times restaurant.
Previous wording
New Store Preopening Costs. There were no preopening costs in the quarters ended April 1, 2025 and March 26, 2024.
Current wording
New Store Preopening Costs. There were no preopening costs in the quarters ended July 1, 2025 or June 25, 2024.
Previous wording
Depreciation and Amortization Costs. Depreciation and amortization costs for the quarter ended April 1, 2025, increased $70,000 to $996,000 from $926,000 in the quarter ended March 26, 2024.
Current wording
Depreciation and Amortization Costs. Depreciation and amortization costs for the quarter ended July 1, 2025, increased $22,000 to $982,000 from $960,000 in the quarter ended June 25, 2024.
Previous wording
Bad Daddy’s depreciation and amortization costs for the quarter ended April 1, 2025 increased $18,000 to $758,000 from $740,000 in the quarter ended March 26, 2024.
Current wording
Bad Daddy’s depreciation and amortization costs for the quarter ended July 1, 2025 decreased $7,000 to $742,000 from $749,000 in the quarter ended June 25, 2024.
Previous wording
Good Times depreciation and amortization costs for the quarter ended April 1, 2025 increased $52,000 to $238,000 from $186,000 in the quarter ended March 26, 2024 primarily resulting from the additional depreciation of newly acquired assets.
Current wording
Good Times depreciation and amortization costs for the quarter ended July 1, 2025 increased $29,000 to $240,000 from $211,000 in the quarter ended June 25, 2024 primarily resulting from additional depreciation of newly acquired assets.
Previous wording
General and Administrative Costs. General and administrative costs for the quarter ended April 1, 2025, increased $14,000 to $2,578,000 (7.5% of total revenues) from $2,564,000 (7.2% of total revenues) for the quarter ended March 26, 2024.
Current wording
General and Administrative Costs. General and administrative costs for the quarter ended July 1, 2025, decreased $514,000 to $2,174,000 (5.9% of total revenues) from $2,688,000 (7.1% of total revenues) for the quarter ended June 25, 2024.
Previous wording
This increase in general and administrative expenses in the quarter ended April 1, 2025 is primarily attributable to:
Current wording
This decrease in general and administrative expenses in the quarter ended July 1, 2025 is primarily attributable to:
Previous wording
Advertising Costs. Advertising costs for the quarter ended April 1, 2025, decreased $119,000 to $705,000 (2.1% of total revenues) from $824,000 (2.3% of total revenues) for the quarter ended March 26, 2024.
Current wording
Advertising Costs. Advertising costs for the quarter ended July 1, 2025, decreased $8,000 to $741,000 (2.0% of total revenues) from $749,000 (2.0% of total revenues) for the quarter ended June 25, 2024.
Previous wording
Bad Daddy’s advertising costs were $336,000 (1.3% of total revenues) in the quarter ended April 1, 2025 compared to $539,000 (2.0% of total revenues) for the quarter ended March 26, 2024. The decrease is primarily due to social media, printing cost and local store marketing decreases. Bad Daddy’s advertising costs consist primarily of third-party gift card commissions, menu development, printing costs, local store marketing and social media.
Current wording
Bad Daddy’s advertising costs were $395,000 (1.5% of total revenues) in the quarter ended July 1, 2025 compared to $448,000 (1.6% of total revenues) for the quarter ended June 25, 2024. The decrease is primarily due to decreases in third party gift card commissions, social media and local store marketing expenses, partially offset by an increase in print production. Bad Daddy’s advertising costs consist primarily of third-party gift card commissions, menu development, printing costs, local store marketing and social media.
Previous wording
Good Times advertising costs were $369,000 (3.9% of total revenues) in the quarter ended April 1, 2025 compared to $285,000 (3.2% of total revenues) in the quarter ended March 26, 2024. The increase is primarily related to increases in agency fees and social media, partially offset by decreased marketing research expenses. Good Times advertising costs consist primarily of radio advertising, social media, and on-site and point-of-purchase printing costs. Advertising costs are presented gross, with franchisee contributions to the fund being recognized as a component of franchise revenues.
Current wording
Good Times advertising costs consist primarily of radio, streaming and social media, and on-site and point-of-purchase printing costs. Advertising costs are presented gross, with franchisee contributions to the fund being recognized as a component of franchise revenues.
Previous wording
(Gain) Loss on Restaurant Asset and Equipment Sales. The net loss on restaurant asset sales and equipment disposals for the quarter ended April 1, 2025 was $6,000, which is composed of a loss of $9,000 on disposal of miscellaneous assets, and $3,000 of deferred gain recognition, compared to a net loss of $4,000 for the quarter ended March 26, 2024, which is composed of a loss of $13,000 on disposal of miscellaneous assets, and $9,000 of deferred gain recognition.
Current wording
(Gain) Loss on Restaurant Asset and Equipment Sales. The net gain on restaurant asset sales and equipment disposals for the quarter ended July 1, 2025 was $4,000, which is composed of a $13,000 gain on lease termination related to a closed Bad Daddy’s restaurant, $3,000 of deferred gain recognition, and a loss of $12,000 on disposal of miscellaneous assets, compared to a net loss of $18,000 for the quarter ended June 25, 2024.
Previous wording
(Loss) Income from Operations. Loss from operations was $514,000 in the quarter ended April 1, 2025 compared to income from operations of $644,000 in the quarter ended March 26, 2024.
Current wording
Income from Operations. Income from operations was $1,233,000 in the quarter ended July 1, 2025 compared to income from operations of $1,228,000 in the quarter ended June 25, 2024.
Previous wording
The change in the (loss) income from operations for the quarter ended April 1, 2025 is primarily due to matters discussed in the relevant sections above.
Current wording
The change in the income from operations for the fiscal quarter ended July 1, 2025 is primarily due to matters discussed in the relevant sections above.
Previous wording
***Interest Expense.***Interest expense was $56,000 during the quarter ended April 1, 2025, compared with $42,000 during the quarter ended March 26, 2024.
Current wording
***Interest Expense.***Interest expense was $51,000 during the quarter ended July 1, 2025, compared with $27,000 during the quarter ended June 25, 2024.
Previous wording
Provision for Income Taxes. The provision for income taxes was $57,000 for the quarter ended April 1, 2025, compared to a $78,000 benefit for the quarter ended March 26, 2024.
Current wording
Provision for Income Taxes. There was a $363,000 benefit from income taxes for the quarter ended July 1, 2025, compared to a $197,000 benefit for the fiscal quarter ended June 25, 2024.
Previous wording
Net (Loss) Income. Net loss was $627,000 for the quarter ended April 1, 2025, compared to net income of $680,000 in the quarter ended March 26, 2024.
Current wording
Net Income. Net income was $1,545,000 for the quarter ended July 1, 2025, compared to net income of $1,398,000 in the quarter ended June 25, 2024.
Previous wording
For the quarter ended April 1, 2025, the loss attributable to non-controlling interests was $3,000 compared to income of $62,000 for the quarter ended March 26, 2024. The $65,000 decrease is due to decreased profitability of the restaurants involved in the limited partnership with a non-controlling partner.
Current wording
For the quarter ended July 1, 2025, the income attributable to non-controlling interests was $58,000 compared to $77,000 for the quarter ended June 25, 2024. This $19,000 decrease is due to decreased profitability of the restaurants involved in the limited partnership with a non-controlling partner.
Previous wording
Fiscal two quarters ended April 1, 2025 (27 weeks) compared to fiscal two quarters ended March 26, 2024 (26 weeks):
Current wording
Fiscal three quarters ended July 1, 2025 (40 weeks) compared to fiscal three quarters ended June 25, 2024 (39 weeks):
Previous wording
***Net Revenues.***Net revenues for the two quarters ended April 1, 2025 increased $2,007,000, or 2.9%, to $70,612,000 from $68,605,000 for the two quarters ended March 26, 2024. Bad Daddy’s concept revenues increased $581,000 while our Good Times concept revenues increased $1,426,000.
Current wording
***Net Revenues.***Net revenues for the three quarters ended July 1, 2025 increased $1,083,000, or 1.0%, to $107,637,000 from $106,554,000 for the three quarters ended June 25, 2024. Bad Daddy’s concept revenues decreased $213,000 and our Good Times concept revenues increased $1,296,000.
Previous wording
Bad Daddy’s restaurant sales increased $327,000 to $50,895,000 for the two quarters ended April 1, 2025 from $50,568,000 for the two quarters ended March 26, 2024. This increase is due to an additional week in the first fiscal quarter versus the prior year first fiscal quarter and menu price increases, partially offset by the closure of one Bad Daddy’s restaurant during the fourth quarter of fiscal 2024, by reduced customer traffic, primarily in January and February and by negative mix shift attributable to the success of the Company’s smashed patty. The average menu price increase for the two quarters ended April 1, 2025 over the same prior year quarters was approximately 4.6%.
Current wording
Bad Daddy’s restaurant sales decreased $488,000 to $77,408,000 for the three quarters ended July 1, 2025 from $77,896,000 for the three quarters ended June 25, 2024. This decrease is a result of the closure of one Bad Daddy’s restaurant during the fourth quarter of fiscal 2024, reduced customer traffic and by negative mix shift attributable to the success of the Company’s smashed patty burgers, partially offset by an additional week in the first fiscal quarter versus the prior year first fiscal quarter and menu price increases. The average menu price increase for the three quarters ended July 1, 2025 over the same prior year quarters was approximately 4.3%.
Previous wording
Good Times restaurant sales increased $1,567,000 to $19,210,000 for the two quarters ended April 1, 2025 from $17,643,000 for the two quarters ended March 26, 2024. This increase is driven by the prior quarter acquisition of two Good Times restaurants, and the third fiscal quarter 2024 acquisition of one Good Times restaurant, previously owned by franchisees, an additional week in the first fiscal quarter versus the prior year first fiscal quarter, partially offset by the prior quarter closure of one Good Times restaurant as well as the prior quarter temporary closure of one Good Times restaurant for remodel and reduced customer traffic. The average menu price increase for the two quarters ended April 1, 2025 over the same prior year quarters was approximately 2.0%.
Current wording
Good Times restaurant sales increased $1,509,000 to $29,566,000 for the three quarters ended July 1, 2025 from $28,057,000 for the three quarters ended June 25, 2024. This increase is driven by the first quarter 2025 acquisition of two Good Times restaurants, the third quarter 2024 acquisition of one Good Times restaurant, previously owned by franchisees, the third quarter 2024 temporary closure of one Good Times restaurant for remodel, and an additional week in the first fiscal quarter versus the prior year first fiscal quarter, partially offset by the fourth quarter 2024 closure of one Good Times restaurant as well as the first quarter 2025 temporary closure of one Good Times restaurant for remodel, and reduced customer traffic. The average menu price increase for the three quarters ended July 1, 2025 over the same prior year quarters was approximately 1.3%.
Previous wording
Franchise and other revenues increased $113,000 to $507,000 in the two quarters ended April 1, 2025 compared to $394,000 in the two quarters ended March 26, 2024. This increase is primarily due to an increase in gift card breakage, partially offset by reduced royalties earned and collected due to the aforementioned Good Times restaurant acquisitions from franchisees.
Current wording
Franchise and other revenues increased $62,000 to $663,000 in the three quarters ended July 1, 2025 compared to $601,000 in the three quarters ended June 25, 2024. This increase is primarily due to an increase in gift card breakage, partially offset by reduced royalties earned and collected due to the aforementioned Good Times restaurant acquisitions from franchisees.
Previous wording
Bad Daddy’s same store restaurant sales decreased 1.1% during the two quarters ended April 1, 2025 compared to the same two quarters ended March 26, 2024, primarily driven by reduced customer traffic, partially offset by menu price increases. There were thirty-nine restaurants included in the same store sales base at the end of the current quarter.
Current wording
Bad Daddy’s same store restaurant sales decreased 1.2% during the three quarters ended July 1, 2025 compared to the same three quarters ended June 25, 2024, primarily driven by reduced customer traffic, partially offset by menu price increases. There were thirty-nine restaurants included in the same store sales base at the end of the current quarter.
Previous wording
Good Times same store restaurant sales decreased 1.9% during the two quarters ended April 1, 2025 compared to the same two quarters ended March 26, 2024, primarily due to traffic decreases, predominately associated with unfavorable weather during the second fiscal quarter, as compared to the same-prior year quarter. There were twenty-seven restaurants included in the same store sales base at the end of the current quarter.
Current wording
Good Times same store restaurant sales decreased 4.4% during the three quarters ended July 1, 2025 compared to the same three quarters ended June 25, 2024, primarily due to decreased customer traffic. There were twenty-seven restaurants included in the same store sales base at the end of the current quarter.
Previous wording
Food and Packaging Costs. Food and packaging costs for the two quarters ended April 1, 2025 increased $914,000 to $21,840,000 (31.2% of restaurant sales) from $20,926,000 (30.7% of restaurant sales) for the two quarters ended March 26, 2024.
Current wording
Food and Packaging Costs. Food and packaging costs for the three quarters ended July 1, 2025 increased $574,000 to $33,198,000 (31.0% of restaurant sales) from $32,624,000 (30.8% of restaurant sales) for the three quarters ended June 25, 2024.
Previous wording
Payroll and Other Employee Benefit Costs. Payroll and other employee benefit costs for the two quarters ended April 1, 2025 increased $719,000 to $24,609,000 (35.1% of restaurant sales) from $23,890,000 (35.0% of restaurant sales) for the two quarters ended March 26, 2024.
Current wording
Payroll and Other Employee Benefit Costs. Payroll and other employee benefit costs for the three quarters ended July 1, 2025 increased $731,000 to $37,256,000 (34.8% of restaurant sales) from $36,525,000 (34.5% of restaurant sales for the three quarters ended June 25, 2024.
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Previous report — wording carried elsewhere
Impairment of Long-Lived Assets Costs. The were $494,000 of costs associated with impairments for the fiscal quarter ended April 1, 2025. There were no impairment costs for the fiscal quarter ended March 26, 2024. The current quarter impairment costs are primarily attributable to the impairment of lease right-of-use assetsfor restaurants generating insufficient income to contribute to rent, and which the Company believes are probable to close at the end of the current lease term; and new assets deployed in restaurants where impairment was previously assessed, and the Company’s current analysis indicated impairment of assets associated with those restaurants.
Previous report — wording carried elsewhere
***Other Income.***No other income was earned in the quarters ended April 1, 2025 and March 26, 2024.