Shake Shack Inc.

For the period ended Jun 25, 2025. Filed Jul 31, 2025.

About 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 25, 2025 · Filed Jul 31, 2025

SHAK$75.90-1.6%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Income

(in thousands, except per share amounts)

Thirteen Weeks Ended · Twenty-Six Weeks Ended
June 252025 · June 262024 · June 252025 · June 262024
Shack sales	$343,224		$305,480		$653,062		$586,032
Licensing revenue	13,242		11,016		24,302		20,968
TOTAL REVENUE	356,466		316,496		677,364		607,000
Shack-level operating expenses:
	Food and paper costs	96,621		85,053		182,658		165,306
	Labor and related expenses	88,058		86,614		174,726		168,123
	Other operating expenses	50,768		43,953		99,030		85,809
	Occupancy and related expenses	25,593		23,226		50,224		45,414
General and administrative expenses	40,671		36,313		81,311		72,257
Depreciation and amortization expense	26,545		25,496		53,088		50,937
Pre-opening costs	4,955		4,014		8,173		6,767
Impairments, loss on disposal of assets, and Shack closures	881		1,045		2,938		1,571
TOTAL EXPENSES	334,092		305,714		652,148		596,184
INCOME FROM OPERATIONS	22,374		10,782		25,216		10,816
Other income, net	2,850		3,300		5,821		6,506
Interest expense	(548)		(527)		(1,111)		(1,035)
INCOME BEFORE INCOME TAXES	24,676		13,555		29,926		16,287
Income tax expense	6,193		3,173		6,930		3,691
NET INCOME	18,483		10,382		22,996		12,596
Less: Net income attributable to non-controlling interests	1,335		714		1,603		888
NET INCOME ATTRIBUTABLE TO SHAKE SHACK INC.	$17,148		$9,668		$21,393		$11,708
Earnings per share of Class A common stock:
	Basic	$0.43		$0.24		$0.53		$0.30
	Diluted	$0.41		$0.23		$0.51		$0.28
Weighted-average shares of Class A common stock outstanding:
	Basic	40,226		39,750		40,173		39,632
	Diluted	41,819		41,480		41,842		41,369

4 |Shake Shack Inc. Form 10-Q

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.