Business
BT Brands Reports Second Quarter 2025 Profit
BT Brands Reports Second Quarter 2025 Profit.
About this update from Bagger Dave's Burger Tavern, Inc.
[{"type":"text","content":"\r\n\r\n \r\n \r\n BT Brands Reports Second Quarter 2025 Profit\r\n \r\n \r\n\r\n\r\nBT Brands Reports Second Quarter 2025 Profit\r\n\r\n\r\n\r\n\r\n\r\n MINNETONKA, Minn.--(BUSINESS WIRE)--\r\nBT Brands, Inc. (Nasdaq: BTBD and BTBDW), today reported its financial results, which reflect a return to profitability for the second quarter, the thirteen weeks ending June 29, 2025.\r\n\r\n\r\n \r\nIncluding its 40.7% ownership interest in Bagger Dave’s Burger Tavern, which operates five locations (OTCMarkets: BDVB), BT Brands currently operates a total of fourteen restaurants comprising the following:\r\n\r\n\r\n \r\n \r\nSix Burger Time fast-food restaurants, located in the North Central region of the United States (“BTND”);\r\n\r\n\r\n \r\nBagger Dave’s Burger Tavern, Inc., a 40.7% owned affiliate, operating five restaurants in Michigan, Ohio, and Indiana (“Bagger Dave’s”);\r\n\r\n\r\n \r\nKeegan’s Seafood Grille in Indian Rocks Beach, Florida (“Keegan’s”);\r\n\r\n\r\n \r\nPie In The Sky Coffee and Bakery in Woods Hole, Massachusetts (“PIE”);\r\n\r\n\r\n \r\nSchnitzel Haus, a fine-dining German-themed restaurant located in Hobe Sound, near Stuart, Florida.\r\n\r\n\r\n \r\n \r\nSecond Quarter 2025 Highlights and Recent Developments\r\n\r\n\r\n \r\n \r\nNet income of $55,000, or $0.01 per share, compared to a net loss of $70,000 in 2024.\r\n\r\n\r\n \r\nRevenues of $3.8 million, compared to $4.1 million for the prior-year quarter, reflecting the impact of two fewer operating locations year-over-year.\r\n\r\n\r\n \r\nOperating loss narrowed significantly to $75,000 from $189,000 in the second quarter of 2024.\r\n\r\n\r\n \r\nRestaurant-level adjusted EBITDA (a non-GAAP measure) increased by 51% over the prior year to $661,000 from $438,00 in 2024\r\n\r\n\r\n \r\nEquity in the second quarter loss of our Bagger Dave’s was $70,400, compared to a loss of $81,000 in the prior year quarter.\r\n\r\n\r\n \r\nThe quarter ended with $3.5 million in total cash and short-term investments.\r\n\r\n\r\n \r\nWe completed the sale of our Richmond, Indiana, property following the end of the second quarter, resulting in a gain of approximately $250,000 to be reported during our third quarter.\r\n\r\n\r\n \r\n \r\nManagement Commentary\r\n\r\n\r\n \r\nGary Co...