PARKS AMERICA, INC
For the period ended Jun 28, 2026. Filed Aug 7, 2026.
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.
Jun 28, 2026 · Filed Aug 7, 2026
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What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-29; filed 2026-05-11.
0001493152-26-022265
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-28; filed 2026-08-07.
0001493152-26-036588
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 178 previous paragraphs and 187 current paragraphs.
108 unchanged; 49 reworded; 29 added; 18 removed; 3 previous and 1 current paragraphs rearranged.
Tables are not compared: 14 previous and 14 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 (29)
Current report
Third Quarter 2026 compared with Third Quarter 2025
Current report
Total revenue was $3.50 million in Third Quarter 2026, an increase of $23,383 or 0.7%, compared to $3.48 million during Third Quarter 2025. On a pro-forma basis, adjusting for the change to exclude transaction processing fees collected from customers in Park revenue, our total revenue was $3.47 million in Third Quarter 2026, a decrease of $7,704 or 0.2% compared to $3.48 million during Third Quarter 2025.
Current report
Park revenue was $3.42 million in Third Quarter 2026, an increase of $26,715 or 0.8%, compared to $3.40 million during Third Quarter 2025. On a pro-forma basis, adjusting for the change to exclude transaction processing fees collected from customers in Park revenue, our Park revenue was $3.39 million in Third Quarter 2026, a decrease of $4,372 or 0.1% compared to $3.40 million during Third Quarter 2025.
Current report
Texas Park revenue was $615,121 in Third Quarter 2026, a decrease of $145,926 or 19.2% compared to $761,047 during Third Quarter 2025. The decrease is primarily due to lower admission revenue and gift shop revenue due to lower overall attendance compared to Third Quarter 2025. The decrease in attendance is primarily driven by the park being open to the public seven days a week for all but the last two weeks of Third Quarter 2025 compared to five days a week throughout the entire Third Quarter 2026. In addition, the marketing mix changed in Third Quarter 2026 which seemed to negatively impact overall attendance. On a pro-forma basis, adjusting for the change to exclude customer transaction processing fees in Texas Park revenue, our Park revenue was $607,909 in Third Quarter 2026, a decrease of $153,138 or 20.1% compared to $761,047 during Third Quarter 2025.
Current report
Georgia Park attendance increased approximately 0.1% during Third Quarter 2026 compared to Third Quarter 2025.
Current report
Missouri Park attendance increased by approximately 8.5% during Third Quarter 2026 compared to Third Quarter 2025 primarily driven by a positive response to community outreach and social media as well as more favorable weather conditions compared to Third Quarter 2025.
Current report
Texas Park attendance decreased approximately 40.7% in Third Quarter 2026 compared to Third Quarter 2025. The decrease in attendance is primarily driven by the park being open to the public seven days a week for all but the last two weeks of Third Quarter 2025 compared to five days a week throughout the entire Third Quarter 2026. In addition, the marketing mix changed in Third Quarter 2026 which seemed to negatively impact overall attendance. In Third Quarter 2025 increased attendance was driven by a positive response to new admission pass pricing in early May 2025 and effectiveness of new marketing strategies. The new admission pass pricing offered a safari pass that grants access only to the drive-thru safari and an adventure pass that grants access to both the drive-thru safari and walkabout adventure zoo. In addition, a family four pack was added that grants access to both the drive-thru safari and walkabout adventure zoo.
Current report
Consolidated cost of animal food, merchandise and food was $481,650 in Third Quarter 2026, an increase of $79,804 or 19.9% compared to $401,846 during Third Quarter 2025. The increase was driven by price increases in resale animal food and increase in non-resale animal food purchases compared to Third Quarter 2025.
Current report
Consolidated advertising and marketing expenses were $189,051 in Third Quarter 2026, a decrease of $62,478 or 24.8% compared to $251,529 during Third Quarter 2025. The decrease was driven by lower social media and digital marketing costs.
Current report
Consolidated other segment expenses were $489,714 in Third Quarter 2026, an increase of $22,934 or 4.9% compared to $466,780 during Third Quarter 2025. The increase was primarily driven by the addition of special events at the parks which are aligned with recognized animal awareness days and major holidays and high traffic weekends, higher park maintenance expense at our Texas park due to costs incurred for flood damage repairs on park grounds and higher animal expenses at our Georgia Park due to the cost of transporting a giraffe from our Missouri Park offset by lower insurance expenses at all three parks.
Current report
Consolidated segment income was $1.43 million in Third Quarter 2026, a decrease of $112,058 or 7.3% from $1.54 million during Third Quarter 2025.
Current report
Georgia Park segment income was $0.89 million in Third Quarter 2026, a decrease of $94,991 or 9.6% from $0.99 million during Third Quarter 2025. The decrease was primarily driven by an increase in the cost of resale and non-resale animal food and the changes in significant other segment expenses, primarily higher personnel costs, higher animal expenses due to costs incurred to transport a giraffe from our Missouri Park, higher other revenue driven costs, due to the transaction processing fee paid to the new ticketing platform provider, offset by lower advertising and marketing costs and insurance expense compared to Third Quarter 2025.
Current report
Contested proxy and related matters, net was none in Third Quarter 2026 compared to a credit of $103,657 during Third Quarter 2025. The credit in Third Quarter 2025 was from the reversal of previously accrued contested proxy legal fees that were waived as part of the full settlement of outstanding invoices during Third Quarter 2025. See Note 3,*Contested Proxy and Related Matters,*to the Consolidated Financial Statements (Unaudited) included in this Quarterly Report for additional information.
Current report
Other Operating (Income) Expense, net
Current report
Other operating income, net was none in Third Quarter 2026 compared to other operating expenses, net of $13,750 in Third Quarter 2025. Third Quarter 2025 included a loss on animal exhibit design costs that were abandoned at the Georgia Park.
Current report
Other income, net was $17,454 in Third Quarter 2026, a decrease of $891 from $18,345 during Third Quarter 2025.
Current report
Our total revenue was $7.89 million for Year-to-Date 2026, an increase of $640,649 or 8.8%, compared to $7.25 million during Year-to-Date 2025. On a pro-forma basis, adjusting for the change to exclude transaction processing fees collected from customers in Park revenue, our total revenue was $7.83 million for Year-to-Date 2026, an increase of $583,482 or 8.0% compared to $7.25 million during Year-to-Date 2025.
Current report
Our total Park revenue was $7.74 million for Year-to-Date 2026, an increase of $648,652 or 9.1%, compared to $7.10 million during Year-to-Date 2025. On a pro-forma basis, adjusting for the change to exclude transaction processing fees collected from customers in Park revenue, our Park revenue was $7.69 million for Year-to-Date 2026, an increase of $591,486 or 8.3% compared to $7.10 million during Year-to-Date 2025.
Current report
Consolidated cost of animal food, merchandise and food was $1.06 million for Year-to-Date 2026, an increase of $88,753 or 9.2% compared to $0.97 million during Year-to-Date 2025. The increase was primarily driven by price increases in resale animal food compared to Year-to-Date 2025.
Current report
Other Operating (Income) Expense, net
Current report
Other income, net was $59,331 for Year-to-Date 2026, an increase of $2,281 or 4.0% from $57,050 during Year-to-Date 2025.
Current report
Net Income and Earnings Per Share
Current report
On June 17, 2026, the Company, through its wholly owned subsidiary Aggieland Wild Animal – Texas, completed a refinancing transaction with Cendera Bank resulting in the amendment and restatement of the Term Loan Agreement dated September 30, 2024 between Aggieland-Parks, Inc. and Cendera Bank, N.A., predecessor to Cendera Bank (“Current 2025 Term Loan”).
Current report
The Current 2025 Term Loan provided a principal balance of $2.33 million and will mature on June 1, 2033. The Current 2025 Term Loan has a term of seven years, with a 25-year amortization, and a balloon payment of the outstanding principal balance due on June 1, 2033. The monthly loan payment will be $16,561.
Current report
The applicable interest rate of the Current 2025 Term Loan is based on an adjusted rate equal to the Chicago Mercantile Exchange (“CME”) 1-month term SOFR plus 2.70%. The CME 1-month term SOFR was 3.64% as of June 17, 2026, providing an initial interest rate of 6.34%. As of June 28, 2026, the CME 1-month term SOFR rate was 3.64%. Concurrently, the Company, through its wholly owned subsidiary, Aggieland Wild Animal – Texas entered into a Rate Conversion Agreement with third-party provider, SouthState Bank, N.A., doing business as ARC Fixed Rate Provider, with Cendera Bank acting as servicing agent. The Rate Conversion Agreement is coterminous with the Current 2025 Term Loan and effectively converts the variable adjusted rate interest payments into a fixed rate obligation, resulting in a fixed interest rate of 6.99% over the term of the loan. Aggieland-Parks, Inc. paid $14,896 in fees and expenses in connection with the Current 2025 Term Loan.
Current report
The Rate Conversion Agreement, interest rate swap, is designated as a cash flow hedge and the fair value of the derivative is recorded on the Consolidated Balance Sheets at fair value, and changes in fair value qualifying for cash-flow-hedge accounting are recorded in Other comprehensive income (loss) and Accumulated other comprehensive income (loss), with amounts reclassified to interest expense when the hedged interest payments affect earnings.
Current report
The Current 2025 Term Loan is secured by substantially all the Aggieland-Parks, Inc.’s assets. Pursuant to the Guaranty Agreement, the Current 2025 Term Loan is guaranteed by the parent company, Parks! America, Inc. The Current 2025 Term Loan refinancing removes the requirement of the cash collateral reserve of $2.5 million established by Focused Compounding Fund, L.P. with Cendera Bank included in the original Term Loan Agreement dated September 30, 2024.
Current report
The Guaranty Agreement and Amended and Restated Loan Agreement are subject to certain financial covenants including that, Parks! America, Inc., as guarantor, and Aggieland Parks, Inc., as borrower, independently maintain a minimum Debt Service Coverage Ratio of at least 1.20 to 1.00 on a trailing twelve-month basis. Both the Guaranty Agreement and Amended and Restated Loan Agreement contain certain affirmative covenants, including, among other things, reporting requirements such as delivery of financial statements, federal or state income tax filings and such other reports.
Current report
The outstanding balance of the Current 2025 Term Loan was $2.33 million and the Former 2025 Term Loan was $2.41 million as of June 28, 2026 and September 28, 2025, respectively.
Removed paragraphs (18)
Previous report
Second Quarter 2026 compared with Second Quarter 2025
Previous report
Total revenue was $2.30 million in Second Quarter 2026, an increase of $294,326 or 14.7%, compared to $2.00 million during Second Quarter 2025. On a pro-forma basis, adjusting for the change to exclude transaction processing fees collected from customers in Park revenue, our total revenue was $2.27 million in Second Quarter 2026, an increase of $268,247 or 13.4% compared to $2.00 million during Second Quarter 2025.
Previous report
Texas Park revenue was $681,137 in Second Quarter 2026, an increase of $102,001 or 17.6% compared to $579,136 during Second Quarter 2025. While overall attendance was down in Second Quarter 2026 compared to Second Quarter 2025, admission revenue increased due to increased admission ticket prices. In addition, in-park guest spending on animal food and animal encounters increased primarily because certain admission packages included animal food and animal encounters in the price of the admission during Second Quarter 2025. In addition, we were able to provide guests with more animal encounter offerings and availability due to additional staffing. On a pro-forma basis, adjusting for the change to exclude customer transaction processing fees in Texas Park revenue, our Park revenue was $673,583 in Second Quarter 2026, an increase of $94,447 or 16.3% compared to $579,136 during Second Quarter 2025.
Previous report
Georgia Park attendance increased approximately 7.9% during Second Quarter 2026 compared to Second Quarter 2025. This was primarily driven by more favorable weather conditions compared to Second Quarter 2025. In Second Quarter 2025 we experienced adverse weather conditions and a two-day power outage that required the park to be closed as well as rainy and colder than average weather temperature that negatively impacted attendance.
Previous report
Missouri Park attendance increased by approximately 9.8% during Second Quarter 2026 compared to Second Quarter 2025 primarily driven by more favorable weather conditions during the winter months compared to Second Quarter 2025. In Second Quarter 2025 we experienced adverse weather conditions and snow that required the park to be closed for one week and closed for other consecutive days due to rainy and colder than average weather temperatures.
Previous report
Texas Park attendance decreased approximately 23.0% in Second Quarter 2026 compared to Second Quarter 2025 primarily due to rainy weather the first two days of Spring Break resulting in lower attendance compared to Second Quarter 2025. In Second Quarter 2025 we experienced a significant increase in attendance during Spring Break due to the positive response to new marketing strategies. In addition, our Texas Park was closed on Tuesdays and Wednesdays for all weeks, except Spring Break week, during Second Quarter 2026 compared to being open seven days a week during Second Quarter 2025.
Previous report
Consolidated cost of animal food, merchandise and food was $299,635 in Second Quarter 2026, a decrease of $15,364 or 4.9% compared to $314,999 during Second Quarter 2025. The decrease was primarily attributed to the Georgia Park decrease in resale and non-sale animal food cost of sales due to an inventory adjustment in Second Quarter 2025.
Previous report
Consolidated other segment expenses were $489,508 in Second Quarter 2026, a decrease of $32,399 or 6.2% compared to $521,907 during Second Quarter 2025. The decrease was primarily driven by lower insurance expenses at all three parks and a decrease at our Texas Park due to lower veterinary costs and animal expenses, primarily due to an animal insurance policy purchased for a limited term period for the transportation of a giraffe.
Previous report
Consolidated segment income was $494,324 in Second Quarter 2026, an increase of $271,903 from $222,421 during Second Quarter 2025.
Previous report
Georgia Park segment income was $255,046 in Second Quarter 2026, an increase of $106,504 or 71.7% from $148,542 during Second Quarter 2025. The increase was primarily driven by an increase in admission revenue and in-park guest spending on animal encounters. In addition, higher attendance generated increased gross margin from in-park guest spending on animal food, gift shop and food service. These increases in Park revenue more than offset the changes in significant segment expenses, primarily higher personnel costs, higher advertising and marketing costs and higher other revenue driven costs, due to the transaction processing fee paid to the new ticketing platform provider, compared to Second Quarter 2025.
Previous report
Other Operating (Income), net
Previous report
Other income, net was $19,803 in Second Quarter 2026, a decrease of $5,520 from $25,323 during Second Quarter 2025. The decrease was primarily driven by interest income received on a federal income tax refund during Second Quarter 2025.
Previous report
Our total revenue was $4.39 million for Year-to-Date 2026, an increase of $617,266 or 16.4%, compared to $3.77 million during Year-to-Date 2025. On a pro-forma basis, adjusting for the change to exclude transaction processing fees collected from customers in Park revenue, our total revenue was $4.36 million for Year-to-Date 2026, an increase of $591,187 or 15.7% compared to $3.77 million during Year-to-Date 2025.
Previous report
Our total Park revenue was $4.32 million for Year-to-Date 2026, an increase of $621,937 or 16.8%, compared to $3.70 million during Year-to-Date 2025. On a pro-forma basis, adjusting for the change to exclude transaction processing fees collected from customers in Park revenue, our Park revenue was $4.29 million for Year-to-Date 2026, an increase of $595,858 or 16.1% compared to $3.70 million during Year-to-Date 2025.
Previous report
Consolidated cost of animal food, merchandise and food was $575,610 for Year-to-Date 2026, an increase of $8,949 or 1.6% compared to $566,661 during Year-to-Date 2025. The increase was primarily attributed to the Georgia Park increase in food service cost of sales due to the increase in food service revenue.
Previous report
Other Operating (Income), net
Previous report
Other income, net was $41,877 for Year-to-Date 2026, an increase of $3,172 from $38,705 during Year-to-Date 2025. The increase is primarily driven by higher other income, net, at the Texas Park Year-to-Date 2026 due to one-time non-operating expense included Year-to-Date 2025. This increase was offset by lower interest income primarily due to interest income received on a federal income tax refund in Year-to-Date 2025 as well as lower interest income due to lower interest rates and average money market balances compared to Year-to-Date 2025.
Previous report
Net Loss and Loss Per Share
Reworded paragraphs (49)
Previous wording
You should read the following discussion in conjunction with the Consolidated Financial Statements (Unaudited) and accompanying notes included elsewhere in the Quarterly Report on Form 10-Q. This Management’s discussion and Analysis of Results of Operations and Financial Condition contains forward-looking statements. The matters discussed in these forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those made, projected or implied in the forward-looking statements. See “Cautionary Statement Regarding Forward-Looking Statements” below, “Item 1A. Risk Factors” in our Annual Report filed on Form 10-K for the fiscal year ended September 28, 2025 filed with the United States Securities and Exchange Commission (“SEC”) on December 12, 2025 and “Part II, Item 1A Risk Factors” of this Quarterly Report on Form 10-Q, for a discussion of these uncertainties, risks and assumptions associated with these statements.
Current wording
You should read the following discussion in conjunction with the Consolidated Financial Statements (Unaudited) and accompanying notes included elsewhere in the Quarterly Report on Form 10-Q. This Management’s discussion and Analysis of Results of Operations and Financial Condition contains forward-looking statements. The matters discussed in these forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those made, projected or implied in the forward-looking statements. See “Cautionary Statement Regarding Forward-Looking Statements” below, “Item 1A. Risk Factors” in our Annual Report filed on Form 10-K for the fiscal year ended September 28, 2025 filed with the SEC on December 12, 2025 and “Part II, Item 1A Risk Factors” of this Quarterly Report on Form 10-Q, for a discussion of these uncertainties, risks and assumptions associated with these statements.
Previous wording
Each of our three parks are located in rural areas. The parks are local attractions in that guests usually drive less than one hour out of their way to visit us. Park guests tend to be residents living within 100 miles of our parks, tourists staying within 100 miles of our parks and tourists driving on a road near our parks. Park guests are groups, almost never individuals and most often families, who seek away-from-home entertainment within driving distance. Management does not believe we compete with in-home entertainment or solo activities and therefore, the market is away-from-home activity seekers within driving distance of our parks. Nearby attractions can be either “complements” to our parks or “substitutes” for our parks. Nearby attractions (such as Callaway Gardens and Great Wolf Lodge near our Georgia Park) increase our attendance because some guests of those attractions visit our parks as part of the same trip.
Current wording
Each of our three park locations are located in rural areas. The parks are local attractions in that guests usually drive less than one hour out of their way to visit us. Park guests tend to be residents living within 100 miles of our parks, tourists staying within 100 miles of our parks and tourists driving on a road near our parks. Park guests are groups, almost never individuals and most often families, who seek away-from-home entertainment within driving distance. Management does not believe we compete with in-home entertainment or solo activities and therefore, the market is away-from-home activity seekers within driving distance of our parks. Nearby attractions can be either “complements” to our parks or “substitutes” for our parks. Nearby attractions (such as Callaway Gardens and Great Wolf Lodge near our Georgia Park) increase our attendance because some guests of those attractions visit our parks as part of the same trip.
Previous wording
We engaged legal counsel specializing in activist stockholder matters, as well as several other consultants, during this proxy contest. We received $567,157 of insurance proceeds under our directors and officers insurance related to this matter during First Quarter 2025. These proceeds were used to pay certain legal bills associated with the contested proxy and related matters. See Note 3,Contested Proxy and Related Matters, to the Consolidated Financial Statements (Unaudited) included in this Quarterly Report for additional information.
Current wording
We engaged legal counsel specializing in activist stockholder matters, as well as several other consultants, during this proxy contest. For Year-to-Date 2026 and Year-to-Date 2025, contested proxy and related matters, net was zero and a credit of $670,814. The $670,814 credit for Year-to-Date 2025 consisted of $567,157 of insurance proceeds received under our directors and officers insurance related to this matter during First Quarter 2025. These proceeds were used to pay certain legal bills associated with the contested proxy and related matters. The remaining credit of $103,657 was recognized in Third Quarter 2025 from the reversal of previously accrued contested proxy legal fees that were waived as part of the full settlement of outstanding invoices. See Note 3,Contested Proxy and Related Matters, to the Consolidated Financial Statements (Unaudited) included in this Quarterly Report for additional information.
Previous wording
Consolidated and Segment Results of Operations for Second Quarter 2026 as Compared to Second Quarter 2025
Current wording
Consolidated and Segment Results of Operations for Third Quarter 2026 as Compared to Third Quarter 2025
Previous wording
In January 2026 we completed a strategic switch to a new ticketing platform provider which we believe improves guest experience while also providing improved functionality and reporting for our park customer service teams. This change had a net neutral impact on our profitability. With this change in January 2026 we started to directly upcharge and collect from customers a transaction processing fee that is included in total Park revenue and included in Other revenue driven costs. Prior to January 2026 we did not directly upcharge for the customer transaction processing fees and therefore the customer transaction processing fees were excluded from total Park revenue and Other revenue driven costs. We did present pro-forma Park revenue excluding transaction processing fees collected from customers for Second Quarter 2026 for comparison to Second Quarter 2025 and for Year-to-Date 2026 compared to Year-to-Date 2025.
Current wording
In January 2026 we completed a strategic switch to a new ticketing platform provider which we believe improves guest experience while also providing improved functionality and reporting for our park customer service teams. This change had a net neutral impact on our profitability. With this change in January 2026 we started to directly upcharge and collect from customers a transaction processing fee that is included in total Park revenue and included in Other revenue driven costs. Prior to January 2026 we did not directly upcharge for the customer transaction processing fees and therefore the customer transaction processing fees were excluded from total Park revenue and Other revenue driven costs. We did present pro-forma Park revenue excluding transaction processing fees collected from customers for Third Quarter 2026 for comparison to Third Quarter 2025 and for Year-to-Date 2026 compared to Year-to-Date 2025.
Previous wording
Animal sales were $50,445 in Second Quarter 2026, an increase of $27,769 compared to $22,676 during Second Quarter 2025. The increase is driven by the timing of animal sales at our Georgia Park year-over-year.
Current wording
Animal sales were $74,930 in Third Quarter 2026, a decrease of $3,332 or 4.3% compared to $78,262 during Third Quarter 2025. The decrease is driven by the timing of animal sales.
Previous wording
Park revenue was $2.25 million in Second Quarter 2026, an increase of $266,557 or 13.5%, compared to $1.98 million during Second Quarter 2025. On a pro-forma basis, adjusting for the change to exclude transaction processing fees collected from customers in Park revenue, our Park revenue was $2.22 million in Second Quarter 2026, an increase of $240,478 or 12.1% compared to $1.98 million during Second Quarter 2025.
Current wording
Georgia Park revenue was $1.98 million in Third Quarter 2026, a decrease of $5,025 or 0.3% compared to $1.98 million during Third Quarter 2025. The decrease was primarily driven by lower in-park guest spending on vehicle rentals due to fewer vehicles available to guests compared to Third Quarter 2025. On a pro-forma basis, adjusting for the change to exclude customer transaction processing fees in Georgia Park revenue, our Park revenue was $1.97 million in Third Quarter 2026, a decrease of $13,940 or 0.7% compared to $1.98 million during Third Quarter 2025.
Previous wording
Missouri Park revenue was $462,228 in Second Quarter 2026, an increase of $101,150 or 28.0% compared to $361,078 during Second Quarter 2025. The increase was primarily driven by higher attendance due to more favorable weather conditions over the winter months compared to the prior year. In addition, in-park guest spending on animal encounters increased primarily due to the addition and success of the capybara encounter offering, as well as the completion of the new animal encounter building to complement the guest experience for animal encounters. On a pro-forma basis, adjusting for the change to exclude customer transaction processing fees in Missouri Park revenue, our Park revenue was $454,688 in Second Quarter 2026, an increase of $93,610 or 25.9% compared to $361,078 during Second Quarter 2025.
Current wording
Missouri Park revenue was $833,857 in Third Quarter 2026, an increase of $177,666 or 27.1% compared to $656,191 during Third Quarter 2025. The increase in admission revenue was driven by higher attendance compared to the Third Quarter 2025 due to a positive response to community outreach and social media efforts increasing awareness of the park as well as more favorable weather conditions compared to the Third Quarter 2025. In addition, in-park guest spending on animal encounters increased primarily due to the addition and success of the capybara encounter offering, as well as the completion of the new animal encounter building to complement the guest experience for animal encounters. On a pro-forma basis, adjusting for the change to exclude customer transaction processing fees in Missouri Park revenue, our Park revenue was $818,897 in Third Quarter 2026, an increase of $162,706 or 24.8% compared to $656,191 during Third Quarter 2025.
Previous wording
Consolidated other revenue driven costs were $66,493 in Second Quarter 2026, an increase of $24,947 or 60.0% compared to $41,546 during Second Quarter 2025 primarily driven by the additional expense related to the transaction processing fees paid to the new ticketing platform provider that was excluded in Second Quarter 2025. On a pro forma basis, excluding the transaction processing fees paid to the new ticketing platform provider, consolidated other revenue driven costs were $40,965 in Second Quarter 2026, a decrease of $581 or 1.4% compared to $41,546 during Second Quarter 2025. Other revenue driven costs during Second Quarter 2026 include a cost-plus fee adjustment credit from our payment processor, in the amount of $7,545, provided to us through our contractual relationship with our new ticketing platform provider.
Current wording
Consolidated other revenue driven costs were $92,148 in Third Quarter 2026, an increase of $22,892 or 33.1% compared to $69,256 during Third Quarter 2025 primarily driven by the additional expense related to the transaction processing fees paid to the new ticketing platform provider that were excluded in Third Quarter 2025. On a pro forma basis, excluding the transaction processing fees paid to the new ticketing platform provider, consolidated other revenue driven costs were $60,498 in Third Quarter 2026, a decrease of $8,758 or 12.6% compared to $69,256 during Third Quarter 2025. Other revenue driven costs during Third Quarter 2026 included a $9,703 cost-plus fee adjustment credit received from our payment processor through our contractual relationship with our new ticketing platform provider.
Previous wording
Consolidated personnel costs were $707,550 in Second Quarter 2026, an increase of $41,681 or 6.3% compared to $665,869 during Second Quarter 2025. The increase in personnel costs at the Georgia Park and Missouri Park was primarily driven by additional education and zookeeper personnel compared to Second Quarter 2025. This was offset by a decrease in personnel costs at our Texas Park due to the park being closed to the public two days a week in Second Quarter 2026 compared to being open seven days a week during Second Quarter 2025. In addition, an internal graphic designer and event planner were hired during Fourth Quarter 2025 and a social media content and animal educator hired later in Second Quarter 2026 for the benefit of all three parks.
Current wording
Consolidated personnel costs were $819,848 in Third Quarter 2026, an increase of $72,289 or 9.7% compared to $747,559 during Third Quarter 2025. The increase in personnel costs at the Georgia Park and Missouri Park was primarily driven by additional education and zookeeper personnel compared to Third Quarter 2025. In addition, an internal graphic designer and event planner were hired during Fourth Quarter 2025 and a social media content and animal educator was hired later in Second Quarter 2026 for the benefit of all three parks.
Previous wording
Missouri Park segment income was $31,032 in Second Quarter 2026, an increase of $24,226 from $6,806 during Second Quarter 2025. The increase was primarily driven by an increase in admission revenue and in-park guest spending on animal encounters offset by higher personnel costs, higher advertising and marketing and higher other revenue driven costs due to the transaction processing fee paid to the new ticketing platform provider compared to Second Quarter 2025.
Current wording
Missouri Park segment income was $309,079 in Third Quarter 2026, an increase of $92,330 or 42.6% from $216,749 during Third Quarter 2025. The increase was primarily driven by an increase in admission revenue and in-park guest spending on animal encounters offset by changes in significant other segment expenses, primarily higher personnel costs, higher events and promotions expenses, higher animal expenses, and higher other revenue driven costs due to the transaction processing fee paid to the new ticketing platform provider, offset by lower advertising and marketing costs and insurance expense compared to Third Quarter 2025.
Previous wording
Texas Park segment income was $208,246 in Second Quarter 2026, an increase of $141,173 from $67,073 during Second Quarter 2025. The increase was primarily driven by an increase in admission revenue and in-park guest spending on animal encounters as well as increased gross margin from higher in-park guest spending on animal food and changes in significant segment expenses, primarily lower personnel costs, lower advertising and marketing costs and lower travel related costs and higher other revenue driven costs, due to the transaction processing fee paid to the new ticketing platform provider, compared to Second Quarter 2025.
Current wording
Texas Park segment income was $224,134 in Third Quarter 2026, a decrease of $109,397 or 32.8% from $333,531 during Third Quarter 2025. The decrease was primarily driven by a decrease in admission revenue and in-park guest spending in the gift shop due to lower attendance and changes in significant other segment expenses, primarily higher park maintenance expenses due to costs incurred for flood damage repairs on park grounds, higher other revenue driven costs, due to the transaction processing fee paid to the new ticketing platform provider, offset by lower personnel costs, lower advertising and marketing costs and lower travel related costs compared to Third Quarter 2025.
Previous wording
Corporate expenses were $219,845 in Second Quarter 2026, a decrease of $81,637 from $301,482 during Second Quarter 2025 primarily driven by lower professional fees, due to timing of accruals, lower insurance expense and lower personnel costs compared to Second Quarter 2025.
Current wording
Corporate expenses were $247,637 in Third Quarter 2026, a decrease of $30,239 or 10.9% from $277,876 during Third Quarter 2025 primarily driven by lower professional fees, due to timing of accruals, and lower insurance expense compared to Third Quarter 2025.
Previous wording
Depreciation and amortization expense was $216,171 in Second Quarter 2026, a decrease of $4,144 compared to $220,315 during Second Quarter 2025. The decrease was driven by lower depreciation expense for our Texas Park and Missouri Park due to assets becoming fully depreciated offset by higher depreciation expense at the Georgia Park related to the new restroom facility placed in service during Second Quarter 2025.
Current wording
Depreciation and amortization expense was $220,799 in Third Quarter 2026, a decrease of $9,957 or 4.3% compared to $230,756 during Third Quarter 2025. The decrease was driven by lower depreciation expense for our Texas Park and Missouri Park due to assets becoming fully depreciated offset by higher depreciation expense at the Georgia Park related to the new restroom facility placed in service during Second Quarter 2025.
Previous wording
Interest expense was $45,859 in Second Quarter 2026, a decrease of $8,850 from $54,709 during Second Quarter 2025. The decrease was primarily driven by the reduction in the 2025 Term Loan variable interest rate of approximately 75 basis points compared to Second Quarter 2025 and a decrease in the 2021 Term Loan interest due to lower principal balances.
Current wording
Interest expense was $45,292 in Third Quarter 2026, a decrease of $8,678 from $53,970 or 16.1% during Third Quarter 2025. The decrease was primarily driven by the approximately 75 basis points reduction on the Former 2025 Term Loan variable interest rate compared to Third Quarter 2025 and a decrease in the 2021 Term Loan interest due to lower principal balances.
Previous wording
We recorded income tax expense for Second Quarter 2026 of $3,715 which resulted in an effective tax rate of 11.2% compared to income benefit of $81,000 for Second Quarter 2025 which resulted in an effective tax rate of 24.6%. The overall effective tax rate varies from the U.S. federal statutory rate of 21.0% primarily due to Georgia state taxes.
Current wording
We recorded income tax expense for Third Quarter 2026 of $187,862 which resulted in an effective tax rate of 20.2% compared to income tax expense of $260,229 for Third Quarter 2025 which resulted in an effective tax rate of 24.0%. The overall effective tax rate varies from the U.S. federal statutory rate of 21.0% primarily due to Georgia state taxes.
Previous wording
As a result of the above factors, Net income was $29,545 and basic and diluted earnings per share of $0.04 in Second Quarter 2026 compared with Net loss of $247,762 and basic and diluted loss per share of $0.33 in Second Quarter 2025.
Current wording
As a result of the above factors, Net income was $742,756 and basic and diluted earnings per share of $0.99 in Third Quarter 2026 compared with Net income of $824,370 and basic and diluted earnings per share of $1.09 in Third Quarter 2025.
Previous wording
The following table shows our consolidated and segment operating results for the 26 weeks ended March 29, 2026 and March 30, 2025:
Current wording
The following table shows our consolidated and segment operating results for the 39 weeks ended June 28, 2026 and June 29, 2025:
Previous wording
The following table shows our consolidated and segment Park revenue for 26 weeks ended March 29, 2026 and March 30, 2025, respectively, along with proforma Park revenue for the 26 weeks ended March 29, 2026:
Current wording
The following table shows our consolidated and segment Park revenue for 39 weeks ended June 28, 2026 and June 29, 2025, respectively, along with proforma Park revenue for the 39 weeks ended June 28, 2026:
Previous wording
Animal sales were $69,433 for Year-to-Date 2026, a decrease of $4,671 compared to $74,104 for Year-to-Date 2025 primarily driven by a decrease in animal sales at our Texas Park due to timing of animal sales.
Current wording
Animal sales were $144,363 for Year-to-Date 2026, a decrease of $8,003 or 5.3% compared to $152,366 for Year-to-Date 2025 primarily driven by a decrease in animal sales at our Texas Park offset by an increase at our Georgia Park due to timing of animal sales.
Previous wording
Georgia Park revenue was $2.27 million for Year-to-Date 2026, an increase of $151,636 or 7.1% compared to $2.12 million during Year-to-Date 2025. The increase was primarily driven by the increase in attendance year-over-year primarily due to more favorable weather conditions, especially during the weeks of Thanksgiving and Christmas in First Quarter 2026 compared to the prior year. In addition, in-park guest spending on animal encounters increased due to concerted effort by management to allocate more resources to offer additional animal encounters to the guests, as well as an increase in food service and gift shop revenue due to the higher attendance. On a pro-forma basis, adjusting for the change to exclude customer transaction processing fees in Georgia Park revenue, our Park revenue was $2.26 million for Year-to-Date 2026, an increase of $140,651 or 6.6% compared to $2.12 million during Year-to-Date 2025.
Current wording
Georgia Park revenue was $4.25 million for Year-to-Date 2026, an increase of $146,610 or 3.6% compared to $4.10 million during Year-to-Date 2025. The increase was driven by the increase in attendance primarily due to more favorable weather conditions, especially during the weeks of Thanksgiving and Christmas in First Quarter 2026 compared to Year-to-Date 2025. In addition, in-park guest spending on animal encounters increased due to concerted effort by management to allocate more resources to offer additional animal encounters to the guests, as well as an increase in food service and gift shop revenue due to the higher attendance. On a pro-forma basis, adjusting for the change to exclude customer transaction processing fees in Georgia Park revenue, our Park revenue was $4.23 million for Year-to-Date 2026, an increase of $126,710 or 3.1% compared to $4.10 million during Year-to-Date 2025.
Previous wording
Missouri Park revenue was $819,379 for Year-to-Date 2026, an increase of $182,569 or 28.7% compared to $636,810 during Year-to-Date 2025. The increase was primarily driven by higher attendance due to more favorable weather conditions over the winter months and especially during the week of Christmas in First Quarter 2026 compared to the prior year. In addition, in-park guest spending on animal encounters increased primarily due to the addition and success of the capybara encounter offering not offered in the prior year, as well as the completion of the new animal encounter building to complement the guest experience for animal encounters. On a pro-forma basis, adjusting for the change to exclude customer transaction processing fees in Missouri Park revenue, our Park revenue was $811,839 for Year-to-Date 2026, an increase of $175,029 or 27.5% compared to $636,810 during Year-to-Date 2025.
Current wording
Missouri Park revenue was $1.65 million for Year-to-Date 2026, an increase of $360,236 or 27.9% compared to $1.29 million during Year-to-Date 2025. The increase was driven by higher attendance due to a positive response to community outreach and social media efforts increasing awareness of the park and more favorable weather conditions over the winter months, especially during the week of Christmas in First Quarter 2026, compared to Year-to-Date 2025. In addition, in-park guest spending on animal encounters increased primarily due to the addition and success of the capybara encounter offering not offered in the Year-to-Date 2025, as well as the completion of the new animal encounter building to complement the guest experience for animal encounters. On a pro-forma basis, adjusting for the change to exclude customer transaction processing fees in Missouri Park revenue, our Park revenue was $1.63 million for Year-to-Date 2026, an increase of $337,735 or 26.1% compared to $1.29 million during Year-to-Date 2025.
Previous wording
Texas Park revenue was $1.23 million for Year-to-Date 2026, an increase of $287,732 or 30.6% compared to $0.94 million during Year-to-Date 2025. The increase in revenue was driven by higher admission ticket prices year-over-year and an increase in in-park guest spending primarily on animal encounters and animal food because during Year-to-Date 2025 certain admission packages included animal food and animal encounters in the admission pricing. On a pro-forma basis, adjusting for the change to exclude customer transaction processing fees in Texas Park revenue, our Park revenue was $1.22 million for Year-to-Date 2026, an increase of $280,178 or 29.8% compared to $0.94 million during Year-to-Date 2025.
Current wording
Texas Park revenue was $1.84 million for Year-to-Date 2026, an increase of $141,806 or 8.3% compared to $1.70 million during Year-to-Date 2025. The increase in revenue was driven by higher admission ticket prices and an increase in in-park guest spending primarily on animal encounters and animal food since Year-to-Date 2025 certain admission packages included animal food and animal encounters in the admission pricing offset by lower gift shop spending due to lower attendance. On a pro-forma basis, adjusting for the change to exclude customer transaction processing fees in Texas Park revenue, our Park revenue was $1.83 million for Year-to-Date 2026, an increase of $127,040 or 7.5% compared to $1.70 million during Year-to-Date 2025.
Previous wording
Georgia Park attendance increased approximately 3.7% during Year-to-Date 2026 compared to Year-to-Date 2025.
Current wording
Georgia Park attendance increased approximately 2.0% during Year-to-Date 2026 compared to Year-to-Date 2025.
Previous wording
Missouri Park attendance increased by approximately 15.0% during Year-to-Date 2026 compared to Year-to-Date 2025 primarily driven by more favorable weather conditions during the winter months, especially during the first week of Christmas compared to Year-to-Date 2025.
Current wording
Missouri Park attendance increased by approximately 11.6% during Year-to-Date 2026 compared to Year-to-Date 2025 primarily driven by a positive response to community outreach and social media efforts increasing awareness of the park and more favorable weather conditions, especially during the week of Christmas, compared to Year-to-Date 2025.
Previous wording
Consolidated other revenue driven costs were $108,642 for Year-to-Date 2026, an increase of $34,073 or 45.7% compared to $74,569 during Year-to-Date 2025. The increase was driven by an increase in Park revenue, as well as the additional expense related to the transaction processing fees paid to the new ticketing platform provider that was excluded in Year-to-Date 2025. On a pro forma basis, excluding the transaction processing fees paid to the new ticketing platform provider, consolidated other revenue driven costs were $83,114 for Year-to-Date 2026, an increase of $8,545 or 11.5% compared to $74,569 during Year-to-Date 2025. Other revenue driven costs during Year-to-Date 2026 include a cost-plus fee adjustment credit from our payment processor, in the amount of $7,545, provided to us during Year-to-Date 2026 through our contractual relationship with our new ticketing platform provider.
Current wording
Consolidated other revenue driven costs were $200,790 for Year-to-Date 2026, an increase of $56,965 or 39.6% compared to $143,825 during Year-to-Date 2025. The increase was driven by an increase in Park revenue, as well as the additional expense related to the transaction processing fees paid to the new ticketing platform provider that were excluded in Year-to-Date 2025. On a pro forma basis, excluding the transaction processing fees paid to the new ticketing platform provider, consolidated other revenue driven costs were $143,612 for Year-to-Date 2026, a decrease of $213 or 0.1% compared to $143,825 during Year-to-Date 2025. Other revenue driven costs during Year-to-Date 2026 included a $17,248 cost-plus fee adjustment credit received from our payment processor through our contractual relationship with our new ticketing platform provider.
Previous wording
Consolidated personnel costs were $1.38 million for Year-to-Date 2026, an increase of $74,500 or 5.7% compared to $1.31 million during Year-to-Date 2025. The increase in personnel costs at the Georgia Park and Missouri Park was primarily driven by additional education and zookeeper personnel compared to Year-to-Date 2025 offset by a decrease in personnel costs at the Texas Park due to the park being closed to the public two days a week Year-to-Date 2026 compared to being open seven days a week during Year-to-Date 2025. In addition, an internal graphic designer and event planner were hired during Fourth Quarter 2025 and a social media content and animal educator hired later in Second Quarter 2026 for the benefit of all three parks.
Current wording
Consolidated personnel costs were $2.20 million for Year-to-Date 2026, an increase of $146,790 or 7.1% compared to $2.05 million during Year-to-Date 2025. The increase in personnel costs at the Georgia Park and Missouri Park was primarily driven by additional education and zookeeper personnel compared to Year-to-Date 2025 offset by a decrease in personnel costs at the Texas Park due to the park being closed to the public two days a week during Year-to-Date 2026 compared to being open seven days a week for all but the last two weeks of Year-to-Date 2025. In addition, an internal graphic designer and event planner were hired during Fourth Quarter 2025 and a social media content and animal educator was hired later in Second Quarter 2026 for the benefit of all three parks.
Previous wording
Consolidated advertising and marketing expenses were $481,787 for Year-to-Date 2026, an increase of 122,612 or 34.1% compared to $359,175 during Year-to-Date 2025. The Company switched its advertising agency in First Quarter 2025. The new advertising agency recommended a different mix of advertising and marketing strategies that included increased social media and digital marketing spending in Year-to-Date 2026 compared to Year-to-Date 2025.
Current wording
Consolidated advertising and marketing expenses were $670,838 for Year-to-Date 2026, an increase of $60,135 or 9.8% compared to $610,703 during Year-to-Date 2025. The Company switched its advertising agency in First Quarter 2025. The new advertising agency recommended a different mix of advertising and marketing strategies that included increased social media and digital marketing spending in Year-to-Date 2026 compared to Year-to-Date 2025.
Previous wording
Consolidated other segment expenses were $0.94 million for Year-to-Date 2026, a decrease of $69,779 or 6.9% compared to $1.01 million during Year-to-Date 2025. The decrease was primarily driven by lower insurance and outside services for all three parks, as well as lower park maintenance expenses, due to the one-time demolition costs of an unoccupied house on the Georgia Park grounds in Year-to-Date 2025. In addition, the Texas Park had lower operating expenses, primarily lower travel related costs, veterinary costs and animal expenses, primarily due to an animal insurance policy purchased for a limited term period for the transportation of a giraffe compared to Year-to-Date 2025.
Current wording
Consolidated other segment expenses were $1.43 million for Year-to-Date 2026, a decrease of $46,847 or 3.2% compared to $1.48 million during Year-to-Date 2025. The decrease was primarily driven by lower insurance and outside services for all three parks, as well as lower park maintenance expenses, due to costs incurred one-time for the demolition of an unoccupied house on the Georgia Park grounds in Year-to-Date 2025. In addition, our Texas Park had lower operating expenses, primarily lower travel related costs, veterinary costs and animal expenses, primarily due to costs related to a limited-term animal insurance policy purchased for transportation of a giraffe compared to Year-to-Date 2025.
Previous wording
Our consolidated segment income was $902,051 for Year-to-Date 2026, an increase of $446,911 from $455,140 during Year-to-Date 2025.
Current wording
Our consolidated segment income was $2.33 million for Year-to-Date 2026, an increase of $334,853 or 16.8% from $1.99 million during Year-to-Date 2025.
Previous wording
Our Georgia Park segment income was $566,899 for Year-to-Date 2026, an increase of $84,411 from $482,488 during Year-to-Date 2025. The increase was primarily driven by an increase in admission revenue and in-park guest spending on animal encounters, as well as increased gross margin from higher in-park guest spending on animal food, gift shop and food service. These increases in Park revenue more than offset the changes in significant segment expenses, primarily higher personnel and benefit costs, higher advertising and marketing costs, higher other revenue driven costs, due to the inclusion of the transaction processing fee paid to the new ticketing platform provider, and lower insurance expense and lower park maintenance expense, primarily due to one-time demolition costs of an unoccupied house at the Georgia Park in First Quarter 2025, compared to Year-to-Date 2025.
Current wording
Our Georgia Park segment income was $1.46 million for Year-to-Date 2026, a decrease of $10,581 or 0.7% from $1.47 million during Year-to-Date 2025. The increases in Park revenue more than offset the changes in significant other segment expenses, primarily higher personnel and benefit costs, higher advertising and marketing costs, higher animal expenses due to costs incurred to transport a giraffe from our Missouri Park, higher other revenue driven costs, due to the inclusion of the transaction processing fee paid to the new ticketing platform provider, offset by lower park maintenance expense, primarily due to costs incurred one-time for the demolition of an unoccupied house on the Georgia Park grounds during First Quarter 2025, and lower insurance expense and compared to Year-to-Date 2025.
Previous wording
Our Missouri Park segment loss was $2,290 for Year-to-Date 2026, a decrease of $40,132, from segment loss of $42,422 during Year-to-Date 2025. The increase in admission revenue and in-park guest spending, primarily on animal encounters, was more than the increase in personnel costs, advertising and marketing costs and other revenue driven costs, due to the inclusion of the transaction processing fee paid to the new ticketing platform provider, offset by lower insurance expense compared to Year-to-Date 2025.
Current wording
Our Missouri Park segment income was $306,790 for Year-to-Date 2026, an increase of $132,463 or 76.0%, from segment income of $174,327 during Year-to-Date 2025. The increase in admission revenue and in-park guest spending, primarily on animal encounters, more than offset the changes in significant other segment expense, primarily higher personnel costs, advertising and marketing costs, vehicle expenses and other revenue driven costs, due to the inclusion of the transaction processing fee paid to the new ticketing platform provider, offset by lower insurance expense compared to Year-to-Date 2025.
Previous wording
Our Texas Park segment income was $337,442 for Year-to-Date 2026, an increase of $322,368, from $15,074 during Year-to-Date 2025. The increase was primarily driven by an increase in admission revenue and in-park guest spending on animal encounters and increased gross margin from in-park guest spending on animal food and changes in significant segment expenses, primarily lower personnel costs, lower insurance and travel related costs and an increase in advertising and marketing costs and higher other revenue driven costs, due to the inclusion of the transaction processing fee paid to the new ticketing platform provider, compared to Year-to-Date 2025 as well as higher animal expenses, primarily due to an animal insurance policy purchased for a limited policy period for the transportation of a giraffe during Year-to-Date 2025.
Current wording
Our Texas Park segment income was $561,576 for Year-to-Date 2026, an increase of $212,971 or 61.1%, from $348,605 during Year-to-Date 2025. The increase is attributed to increased admission revenue and in-park guest spending on animal encounters offset by changes in significant other segment expenses, primarily lower personnel costs, lower insurance and travel related costs offset by an increase in outside services, park maintenance and higher other revenue driven costs, due to the inclusion of the transaction processing fee paid to the new ticketing platform provider, compared to Year-to-Date 2025. In addition, Year-to-Date 2025 included higher animal expenses, primarily due to costs related to a limited-term animal insurance policy purchased for the transportation of a giraffe.
Previous wording
Corporate expenses were $438,165 for Year-to-Date 2026, a decrease of $133,669 compared to $571,834 during Year-to-Date 2025. The decrease was driven by lower professional fees, due to timing of accruals, lower insurance expense, director fee compensation expense and lower personnel costs compared to Year-to-Date 2025.
Current wording
Corporate expenses were $685,802 for Year-to-Date 2026, a decrease of $163,909 or 19.3% compared to $849,711 during Year-to-Date 2025. The decrease was primarily driven by lower professional fees, due to timing of accruals, lower insurance expense, director fee compensation expense and lower personnel costs compared to Year-to-Date 2025.
Previous wording
Depreciation and amortization expense was $427,252 for Year-to-Date 2026, a decrease of $1,611 from $428,863 during Year-to-Date 2025. The decrease was driven by lower depreciation expense for our Texas Park and Missouri Park due to assets becoming fully depreciated offset by higher depreciation expense at the Georgia Park related to the new restroom facility placed in service during Second Quarter 2025.
Current wording
Depreciation and amortization expense was $648,051 for Year-to-Date 2026, a decrease of $11,568 or 1.8% from $659,619 during Year-to-Date 2025. The decrease was driven by lower depreciation expense for our Texas Park and Missouri Park due to assets becoming fully depreciated offset by higher depreciation expense at the Georgia Park related to the new restroom facility placed in service during Second Quarter 2025.
Previous wording
Contested proxy and related matters, net was none Year-to-Date 2026 compared to a credit of $567,157 during Year-to-Date 2025. The credit in Year-to-Date 2025 was from the receipt of insurance proceeds in First Quarter 2025 from our directors and officers insurance policy associated with the contested proxy and related matters. See Note 3,*Contested Proxy and Related Matters,*to the Consolidated Financial Statements (Unaudited) included in this Quarterly Report for additional information.
Current wording
Contested proxy and related matters, net was none Year-to-Date 2026 compared to a credit of $670,814 during Year-to-Date 2025. The credit in Year-to-Date 2025 was from the receipt of $567,157 insurance proceeds in First Quarter 2025 from our directors and officers insurance policy associated with the contested proxy and related matters. The remaining credit of $103,657 was from the reversal of previously accrued contested proxy legal fees that were waived as part of the full settlement of outstanding invoices during Third Quarter 2025. See Note 3,*Contested Proxy and Related Matters,*to the Consolidated Financial Statements (Unaudited) included in this Quarterly Report for additional information.
Previous wording
Other operating income, net was $3,799 in Year-to-Date 2026, an increase of $3,747 compared to $52 during Year-to-Date 2025. The increase was due to higher net gain on disposals of property and equipment during Year-to-Date 2026 compared to Year-to-Date 2025.
Current wording
Other operating income, net was $3,799 in Year-to-Date 2026, an increase of $17,497 compared to other operating expense, net of $13,698 during Year-to-Date 2025. The increase was due to higher net gain on disposals of property and equipment during Year-to-Date 2026 compared to Year-to-Date 2025. Year-to-Date 2025 includes the loss on animal exhibit design costs that were abandoned at our Georgia Park.
Previous wording
Interest expense was $94,611 for Year-to-Date 2026, a decrease of $17,567 from $112,178 during Year-to-Date 2025. The decrease was primarily driven by the reduction in the 2025 Term Loan variable interest rate of approximately 75 basis points compared to Year-to-Date 2025 and a decrease in the 2021 Term Loan interest due to lower principal balances.
Current wording
Interest expense was $139,903 for Year-to-Date 2026, a decrease of $26,245 or 15.8% from $166,148 during Year-to-Date 2025. The decrease was primarily driven by the reduction in the Former 2025 Term Loan variable interest rate of approximately 75 basis points compared to Year-to-Date 2025 and a decrease in the 2021 Term Loan interest due to lower principal balances.
Previous wording
We recorded income tax benefit for Year-to-Date 2026 of $5,785 which resulted in an effective tax rate of 47.0% compared to income tax expense of $2,900 for Year-to-Date 2025 which resulted in an effective tax rate of (5.60%). The overall effective tax rate varies from the U.S. federal statutory rate of 21.0% primarily due to Georgia state taxes.
Current wording
We recorded income tax expense for Year-to-Date 2026 of $182,077 which resulted in an effective tax rate of 19.8% compared to income tax expense of $263,129 for Year-to-Date 2025 which resulted in an effective tax rate of 25.5%. The overall effective tax rate varies from the U.S. federal statutory rate of 21.0% primarily due to Georgia state taxes.
Previous wording
As a result of the above factors, Net loss was $6,516 and basic and diluted loss per share of $0.01 in Year-to-Date 2026 compared with Net loss of $54,721 and basic and diluted loss per share of $0.07 in Year-to-Date 2025.
Current wording
As a result of the above factors, Net income was $0.74 million and basic and diluted earnings per share of $0.98 in Year-to-Date 2026 compared with Net income of $0.77 million and basic and diluted earnings per share of $1.02 in Year-to-Date 2025.
Showing the first 40 of 49 pairs. Open the source sections for the rest.
Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
Contested Proxy and Related Matters, net
Rearranged previous paragraphs (3)
Previous report — wording carried elsewhere
Georgia Park revenue was $1.10 million in Second Quarter 2026, an increase of $63,406 or 6.1% compared to $1.04 million during Second Quarter 2025. The increase was primarily driven by the increase in attendance year-over-year. In addition, in-park guest spending on animal encounters increased due to concerted effort by management to allocate more resources to offer additional animal encounters to the guests, as well as an increase in food service and gift shop revenue due to higher attendance. On a pro-forma basis, adjusting for the change to exclude customer transaction processing fees in Georgia Park revenue, our Park revenue was $1.09 million in Second Quarter 2026, an increase of $52,421 or 5.0% compared to $1.04 million during Second Quarter 2025.
Previous report — wording carried elsewhere
Consolidated advertising and marketing expenses were $238,837 in Second Quarter 2026, an increase of $3,558 or 1.5% compared to $235,279 during Second Quarter 2025. The Company switched its advertising agency in First Quarter 2025. The new advertising agency recommended a different mix of advertising and marketing strategies that included increased social media and digital marketing spending.
Previous report — wording carried elsewhere
Other operating income, net was $1,008 in Second Quarter 2026 compared to none in Second Quarter 2025. The increase was due to net gain on disposals of property and equipment during Second Quarter 2026.