PAPA JOHNS INTERNATIONAL INC
For the period ended Nov 6, 2025. Filed Nov 6, 2025.
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Nov 6, 2025 · Filed Nov 6, 2025
Contents
EX-99.1 · Segment Information
Segment Information
The following tables present the operating results of our segments. We have four reportable segments: Domestic Company-owned restaurants, North America franchising, North America commissaries, and International. Under ASC 280, Segment Reporting, our segment performance is evaluated based on adjusted EBITDA. See the Company’s Form 10-Q for the quarter ended September 28, 2025 for further information on segments, including reconciliations of segment measures to consolidated measures for the quarter ended September 28, 2025.
| (in thousands, unaudited) | Domestic Company-Owned Restaurants | North America Franchising | North America Commissaries | International |
|---|---|---|---|---|
| Revenues from external customers | $165,194 | $33,797 | $209,403 | $44,721 |
| Intersegment revenues | — | 1,161 | 50,086 | — |
| Segment revenue | $165,194 | $34,958 | $259,489 | $44,721 |
| Less segment expenses (a): | ||||
| Cost of sales | $150,917 | $— | $234,448 | $24,044 |
| General and administrative expenses | 10,335 | 9,452 | 5,839 | 10,858 |
| Advertising funds expense | — | — | — | 4,519 |
| Segment adjusted EBITDA | $3,942 | $25,506 | $19,202 | $5,300 |
| (in thousands, unaudited) | Domestic Company-Owned Restaurants | North America Franchising | North America Commissaries | International |
| Revenues from external customers | $168,672 | $33,831 | $210,389 | $39,098 |
| Intersegment revenues | — | 1,011 | 52,063 | — |
| Segment revenue | $168,672 | $34,842 | $262,452 | $39,098 |
| Less segment expenses (a): | ||||
| Cost of sales | $155,084 | $— | $237,293 | $21,819 |
| General and administrative expenses | 9,234 | 8,181 | 8,473 | 9,944 |
| Advertising funds expense | — | — | — | 3,284 |
| Segment adjusted EBITDA | $4,354 | $26,661 | $16,686 | $4,051 |
| (in thousands, unaudited) | Domestic Company-Owned Restaurants | North America Franchising | North America Commissaries | International |
|---|---|---|---|---|
| Revenues from external customers | $511,786 | $104,708 | $637,168 | $128,016 |
| Intersegment revenues | — | 3,664 | 154,356 | — |
| Segment revenue | $511,786 | $108,372 | $791,524 | $128,016 |
| Less segment expenses (a): | ||||
| Cost of sales | $461,915 | $— | $707,174 | $68,234 |
| General and administrative expenses | 31,033 | 28,776 | 26,145 | 28,983 |
| Advertising funds expense | — | — | — | 14,479 |
| Segment adjusted EBITDA | $18,838 | $79,596 | $58,205 | $16,320 |
| (in thousands, unaudited) | Domestic Company-Owned Restaurants | North America Franchising | North America Commissaries | International |
| Revenues from external customers | $518,103 | $103,937 | $611,873 | $132,318 |
| Intersegment revenues | — | 3,101 | 151,633 | — |
| Segment revenue | $518,103 | $107,038 | $763,506 | $132,318 |
| Less segment expenses (a): | ||||
| Cost of sales | $456,451 | $— | $688,091 | $82,883 |
| General and administrative expenses | 28,884 | 24,662 | 26,511 | 28,258 |
| Advertising funds expense | — | — | — | 9,219 |
| Segment adjusted EBITDA | $32,768 | $82,376 | $48,904 | $11,958 |
(a) Segment expenses excludes depreciation and amortization, stock-based compensation expense, and certain general and administrative expenses and other items that do not reflect normal, recurring expenses necessary to operate our business.
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