Driven Brands Holdings Inc. Reports Third Quarter 2025 Results

About this update from Driven Brands Holdings Inc.

--Take 5 segment revenue increases 14% with same store sales growth of 7%-- --19th consecutive quarter of growth in same store sales-- --Net leverage ratio improves to 3.8x Adjusted EBITDA-- --Narrows fiscal year 2025 outlook ranges-- CHARLOTTE, N.C. --(BUSINESS WIRE)-- Driven Brands Holdings Inc. (NASDAQ: DRVN) (“Driven Brands” or the “Company”) today reported financial results for the third quarter ending September 27, 2025 . For the third quarter, Driven Brands delivered revenue of $535.7 million , an increase of 6.6% versus the prior year. System-wide sales increased 4.7% to $1.6 billion , driven by a 2.8% increase in same store sales and 3.5% increase in store count versus the prior year. Net income from continuing operations was $60.9 million or $0.37 per diluted share versus a net loss from continuing operations of $11.5 million or $(0.07) per diluted share in the prior year. Adjusted Net Income1 was $56.2 million or $0.34 per diluted share versus $38.1 million or $0.23 per diluted share in the prior year. Adjusted EBITDA1 was $136.3 million , an increase of $4.3 million versus the prior year. “Driven Brands delivered another strong quarter, highlighted by continued growth in our Take 5 business,” said Danny Rivera , President and Chief Executive Officer. “Same store sales increased for the 19th consecutive quarter, with high single-digit growth in Take 5 driving solid gains in revenue, adjusted EBITDA and adjusted earnings per share.” “As we look to the balance of the year, our narrowed fiscal 2025 outlook reflects continued execution of our Growth and Cash strategy - with expansion from Take 5 Oil Change , reliable cash generation from our franchise and car wash segments, and ongoing progress reducing leverage. While the consumer environment remains dynamic, our resilient, needs-based model and disciplined focus on execution position us well to continue delivering long-term shareholder value,” Rivera concluded. Third Quarter 2025 Key Performance Indicators by Segment System-wide Sales (in millions) Store Count Same Store Sales2 Revenue (in millions) Adjusted EBITDA (in millions) Take 5 $ 411.6 1,282 6.8 % $ 306.4 $ 107.3 Franchise Brands 1,091.6 2,676 0.7 % 75.3 49.7 Car Wash 51.4 717 3.9 % 54.1 15.0 Corporate and Other 70.8 213 N/A 99.9 (35.8 ) Total $ 1,625.4 4,888 2.8 % $ 535.7 $ 136.3 Note: Certain columns may not add due to rounding. Capital and Liquidity The Company ended the third quarter with a net leverage ratio of 3.8x Adjusted EBITDA and total liquidity of $755.7 million consisting of $162.0 million in cash and cash equivalents and $593.7 million of undrawn capacity on its variable funding securitization senior notes and revolving credit facility. This did not include the additional $135.0 million Series 2022 Class A-1 Notes that expand the Company’s variable funding note borrowing capacity if the Company elects to exercise them, assuming certain conditions continue to be met. Seller Note Divestiture and Debt Refinancing As disclosed previously, on July 25, 2025 , Driven Brands divested the seller note received in connection with the sale of the former U.S. car wash business for $113.0 million in cash proceeds. Net proceeds were used to pay off all outstanding term loan principal as well as $65.0 million of the drawn balance on its revolving credit facility. On October 20, 2025 , as previously disclosed, the Company completed an offering by certain of its subsidiaries for $500 million of Series 2025 Class A-2 senior notes maturing in October 2055 , with an anticipated repayment date in October 2030 . Proceeds from the notes, combined with funding from the Company’s revolving credit facility, were primarily used to repay the Company’s 2019-1 and 2022-1 Fixed Rate Senior Secured Notes. Fiscal Year 2025 Outlook The Company narrowed its financial outlook for fiscal year ending December 27, 2025 , as follows: 2025 Outlook Revenue ~$2.10 - $2.12 billion Adjusted EBITDA 1 ~$525 - $535 million Adjusted Diluted EPS 1 ~$1.23 - $1.28 The Company now expects same store sales growth at the low end of its original range of 1% to 3%; and continues to expect net store growth of approximately 175 to 200. Note: 2025 Outlook excludes the impact of any potential M&A and divestitures other than the completed sale of the U.S. car wash business. 1 Adjusted EBITDA, Adjusted Net Income and Adjusted EPS are non-GAAP financial measures. See “Reconciliation of Non-GAAP Financial Measures” for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures. Forward-looking estimates of Adjusted EBITDA and Adjusted EPS are made in a manner consistent with the relevant definitions and assumptions noted herein. 2 The Company does not provide same store sales results for Corporate and Other as it is a non-reportable segment. The same store sales results for any applicable businesses within Corporate and Other are included in the Company’s overall same store sales results. Conference Call Driven Brands will host a conference call to discuss third quarter 2025 results today, Tuesday, November 4, 2025 , at 8:30 a.m. ET . The call will be available by webcast and can be accessed by visiting Driven Brands’ Investor Relations website at investors.drivenbrands.com . A replay of the call will be available for at least three months. About Driven Brands Driven Brands ™, headquartered in Charlotte, NC , is the largest automotive services company in North America , providing a range of consumer and commercial automotive services, including paint, collision, glass, vehicle repair, oil change, maintenance and car wash. Driven Brands is the parent company of some of North America’s leading automotive service businesses including Take 5 Oil Change ®, Meineke Car Care Centers ®, Maaco®, 1-800-Radiator & A/C ®, Auto Glass Now®, and CARSTAR ®. Driven Brands has approximately 4,900 locations across the United States and 13 other countries, and services tens of millions of vehicles annually. Driven Brands’ network generates approximately $2.1 billion in annual revenue from approximately $6.3 billion in system-wide sales. Disclosure Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and, in each case, their negative or other various or comparable terminology. All statements other than statements of historical facts contained in this Press Release, including statements regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, trends, plans, objectives of management, impact of accounting standards and outlook, impairments, and expected market growth are forward-looking statements. In particular, forward-looking statements include, among other things, statements relating to: (i) potential post-closing obligations and liabilities relating to the sale of our U.S. car wash business; (ii) the current geopolitical environment, including the impact, both direct and indirect, of government actions, such as proposed and enacted tariffs and governmental shutdowns; (iii) our strategy, outlook, and growth prospects; (iv) our operational and financial targets and dividend policy; (v) general economic trends and trends in the industry and markets; (vi) the risks and costs associated with the integration of, and or ability to integrate, our stores and business units successfully; (vii) the proper application of generally accepted accounting principles, which are highly complex and involve many subjective assumptions, estimates, and judgments; and (viii) the competitive environment in which we operate. Forward-looking statements are not based on historical facts, but instead represent our current expectations and assumptions regarding our business, the economy and other future conditions, and involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. It is not possible to predict or identify all such risks. These risks include, but are not limited to, the risk factors that are described under the section titled “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 28, 2024 as well as in our other filings with the Securities and Exchange Commission, which are available on its website at www.sec.gov . Given these uncertainties, you should not place undue reliance on these forward-looking statements. DRIVEN BRANDS HOLDINGS INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended Nine Months Ended (in thousands, except per share amounts) September 27 , 2025 September 28 , 2024 September 27 , 2025 September 28 , 2024 Net revenue: Franchise royalties and fees $ 50,824 $ 49,475 $ 144,714 $ 144,549 Company-operated store sales 331,259 298,798 978,670 884,944 Independently-operated store sales 51,410 49,959 189,841 163,286 Advertising contributions 27,883 26,823 80,249 75,804 Supply and other revenue 74,308 77,284 209,361 234,544 Total net revenue 535,684 502,339 1,602,835 1,503,127 Operating Expenses: Company-operated store expenses 193,129 177,510 565,391 525,529 Independently-operated store expenses 30,178 29,382 104,713 90,693 Advertising expenses 27,884 26,823 80,249 75,804 Supply and other expenses 42,552 35,779 116,939 112,531 Selling, general, and administrative expenses 145,177 149,789 471,347 393,418 Depreciation and amortization 34,828 33,418 102,883 97,358 Total operating expenses 473,748 452,701 1,441,522 1,295,333 Operating income 61,936 49,638 161,313 207,794 Other expenses, net: Interest expense, net 23,603 43,674 91,496 119,241 Foreign currency transaction (gain) loss, net (5,419 ) 765 (17,406 ) 5,767 Loss on debt extinguishment 4,549 205 4,549 205 Other expenses, net 22,733 44,644 78,639 125,213 Income before taxes from continuing operations 39,203 4,994 82,674 82,581 Income tax (benefit) expense (21,659 ) 16,474 (7,487 ) 45,292 Net income (loss) from continuing operations $ 60,862 $ (11,480 ) $ 90,161 $ 37,289 Gain on sale of discontinued operations, net of tax — — 37,367 — Net loss from discontinued operations, net of tax — (3,467 ) (13,596 ) (17,816 ) Net income (loss) $ 60,862 $ (14,947 ) $ 113,932 $ 19,473 Basic earnings (loss) per share: Continuing Operations $ 0.37 $ (0.07 ) $ 0.55 $ 0.23 Discontinued Operations — (0.02 ) 0.14 (0.11 ) Net basic earnings (loss) per share $ 0.37 $ (0.09 ) $ 0.69 $ 0.12 Diluted earnings (loss) per share: Continuing Operations $ 0.37 $ (0.07 ) $ 0.55 $ 0.23 Discontinued Operations — (0.02 ) 0.14 (0.11 ) Net diluted earnings (loss) per share $ 0.37 $ (0.09 ) $ 0.69 $ 0.12 Weighted average shares outstanding Basic 163,900 159,804 162,434 159,743 Diluted 165,124 159,804 163,686 160,713 DRIVEN BRANDS HOLDINGS INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands, except share and per share amounts) September 27, 2025 December 28, 2024 Assets Current assets: Cash and cash equivalents $ 162,028 $ 149,573 Restricted cash 335 358 Accounts and notes receivable, net 188,208 177,654 Inventory 65,195 66,539 Prepaid and other assets 35,178 37,841 Income tax receivable 16,025 14,294 Advertising fund assets, restricted 63,617 49,716 Assets held for sale 54,540 77,616 Current assets of discontinued operations — 83,847 Total current assets 585,126 657,438 Other assets 120,802 125,422 Property and equipment, net 758,874 711,505 Operating lease right-of-use assets 570,213 524,442 Deferred commissions 7,589 7,246 Intangibles, net 655,792 665,896 Goodwill 1,445,383 1,403,056 Deferred tax assets 9,151 8,206 Non-current assets of discontinued operations — 1,158,576 Total assets $ 4,152,930 $ 5,261,787 Liabilities and shareholders' equity Current liabilities: Accounts payable $ 89,355 $ 85,843 Accrued expenses and other liabilities 226,515 193,638 Income tax payable 13,190 6,860 Current portion of long-term debt 277,770 32,232 Income tax receivable liability 22,674 22,676 Advertising fund liabilities 18,644 22,030 Current liabilities of discontinued operations — 70,616 Total current liabilities 648,148 433,895 Long-term debt 1,936,610 2,656,308 Deferred tax liabilities 72,249 87,485 Operating lease liabilities 541,110 491,282 Income tax receivable liability 110,907 110,935 Deferred revenue 29,641 31,314 Long-term accrued expenses and other liabilities 20,775 20,122 Non-current liabilities of discontinued operations — 823,112 Total liabilities 3,359,440 4,654,453 Preferred Stock $0.01 par value; 100,000,000 shares authorized; none issued or outstanding — — Common stock, $0.01 par value, 900,000,000 shares authorized: and 164,454,218 and 163,842,248 shares outstanding; respectively 1,645 1,638 Additional paid-in capital 1,725,174 1,699,851 Accumulated deficit (888,651 ) (1,002,583 ) Accumulated other comprehensive loss (44,678 ) (91,572 ) Total shareholders’ equity 793,490 607,334 Total liabilities and shareholders' equity $ 4,152,930 $ 5,261,787 DRIVEN BRANDS HOLDINGS INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) Nine Months Ended (in thousands) September 27 , 2025 September 28 , 2024 Net income $ 113,932 $ 19,473 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 105,109 131,219 Share-based compensation expense 28,269 35,641 (Gain) loss on foreign denominated transactions (21,560 ) 8,744 Loss (gain) on foreign currency derivatives 4,154 (2,977 ) (Gain) loss on sale and disposal of businesses, fixed assets, and sale leaseback transactions (21,560 ) 32,998 Loss on fair value of Seller Note 17,000 — Reclassification of interest rate hedge to income (5,980 ) (1,560 ) Bad debt expense 13,275 5,759 Asset impairment charges and lease terminations 19,747 15,008 Amortization of deferred financing costs and bond discounts 7,441 7,240 Amortization of cloud computing 15,190 3,436 (Benefit) provision for deferred income taxes (36,628 ) 13,571 Loss on extinguishment of debt 4,549 205 Other, net (2,500 ) 3,219 Changes in operating assets and liabilities, net of acquisitions: Accounts and notes receivable, net (30,866 ) (37,752 ) Inventory 2,657 1,337 Prepaid and other assets 2,242 7,648 Advertising fund assets and liabilities, restricted (14,845 ) (4,209 ) Other assets (18,210 ) (63,015 ) Deferred commissions (343 ) 642 Deferred revenue (1,679 ) 1,248 Accounts payable (533 ) 11,504 Accrued expenses and other liabilities 39,296 27,359 Income tax receivable 16,588 (8,230 ) Cash provided by operating activities 234,745 208,508 Cash flows from investing activities: Capital expenditures (167,384 ) (219,307 ) Cash used in business acquisitions, net of cash acquired (8,112 ) (2,759 ) Proceeds from sale leaseback transactions 35,279 17,944 Proceeds from Seller Note 113,000 — Proceeds from sale or disposal of businesses and fixed assets 277,062 255,548 Cash provided by (used in) investing activities 249,845 51,426 Cash flows from financing activities: Payment of debt extinguishment and issuance costs (1,414 ) (9,646 ) Proceeds from the issuance of long-term debt — 274,794 Repayment of long-term debt (370,915 ) (422,492 ) Proceeds from revolving lines of credit and short-term debt 121,000 46,000 Repayment of revolving lines of credit and short-term debt (236,000 ) (71,000 ) Repayment of principal portion of finance lease liability (3,581 ) (4,301 ) Payment of Tax Receivable Agreement — (38,374 ) Acquisition of non-controlling interest — (644 ) Tax obligations for share-based compensation (3,907 ) (998 ) Cash used in financing activities (494,817 ) (226,661 ) Effect of exchange rate changes on cash 4,709 71 Net change in cash, cash equivalents, restricted cash, and cash included in advertising fund assets, restricted (5,518 ) 33,344 Cash and cash equivalents, beginning of period 169,954 176,522 Cash included in advertising fund assets, restricted, beginning of period 38,930 38,537 Restricted cash, beginning of period 358 657 Cash, cash equivalents, restricted cash, and cash included in advertising fund assets, restricted, beginning of period 209,242 215,716 Cash and cash equivalents, end of period 162,028 204,181 Cash included in advertising fund assets, restricted, end of period 41,361 40,465 Restricted cash, end of period 335 4,414 Cash, cash equivalents, restricted cash, and cash included in advertising fund assets, restricted, end of period $ 203,724 $ 249,060 RECONCILIATION OF NON-GAAP FINANCIAL MEASURES The following information provides definitions and reconciliations of the non-GAAP financial measures presented in this earnings release to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles (GAAP). The Company has provided this non-GAAP financial information, which is not calculated or presented in accordance with GAAP, as information supplemental and in addition to the financial measures presented in this earnings release that are calculated and presented in accordance with GAAP. Such non-GAAP financial measures should not be considered superior to, as a substitute for or alternative to, and should be considered in conjunction with, the GAAP financial measures presented in this earnings release. The non-GAAP financial measures in this earnings release may differ from similarly titled measures used by other companies. Non-GAAP Financial Measures in Outlook Driven Brands includes Adjusted Earnings Before Interest, Tax, Depreciation and Amortization (“Adjusted EBITDA”) and Adjusted Earnings per Share (“Adjusted EPS”) in the Company’s Fiscal Year 2025 Outlook. Adjusted EBITDA and Adjusted EPS are non-GAAP financial measures and have not been reconciled to the most comparable GAAP financial measures because it is not possible to do so without unreasonable efforts due to the uncertainty and potential variability of reconciling items, which are dependent on future events and often outside of management’s control and which could be significant. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide an outlook for the comparable GAAP measures. Forward-looking estimates of Adjusted EBITDA and Adjusted EPS are made in a manner consistent with the relevant definitions and assumptions noted herein and in our filings with the SEC . Adjusted Net Income and Adjusted Earnings Per Share Adjusted Net Income and Adjusted EPS are considered non-GAAP financial measures under the SEC’s rules because they exclude certain amounts included in the net income attributable to Driven Brands common stockholders and diluted earnings per share attributable to Driven Brands common stockholders calculated in accordance with GAAP. Management believes that Adjusted Net Income and Adjusted EPS are meaningful measures to share with investors because they facilitate comparison of the current period performance with that of the comparable prior period. In addition, Adjusted Net Income and Adjusted EPS afford investors a view of what management considers to be Driven Brands’ core earnings performance as well as the ability to make a more informed assessment of such earnings performance with that of the prior period. The tables below reflect the calculation of Adjusted Net Income and Adjusted Earnings Per Share for the three and nine months ended September 27, 2025 , compared to the three and nine months ended September 28, 2024 . Net Income to Adjusted Net Income and Adjusted Earnings Per Share (Unaudited) Three Months Ended Nine Months Ended (in thousands, except per share data) September 27 , 2025 September 28 , 2024 September 27 , 2025 September 28 , 2024 Net income (loss) from continuing operations $ 60,862 $ (11,480 ) $ 90,161 $ 37,289 Adjustments: Acquisition related costs(a) (214 ) (393 ) 784 1,572 Non-core items and project costs, net(b) 18,557 6,424 32,770 16,166 Cloud computing amortization(c) 6,055 1,022 15,191 3,436 Share-based compensation expense(d) 5,191 12,798 28,269 35,641 Foreign currency transaction (gain) loss, net(e) (5,419 ) 765 (17,406 ) 5,767 Asset sale leaseback (gain) loss, net, impairment, notes receivable loss, and closed store expenses(f) 9,907 29,036 63,387 36,213 Loss on debt extinguishment (g) 4,549 205 4,549 205 Amortization related to acquired intangible assets(h) 4,295 5,375 13,482 17,713 Acceleration of interest rate hedge(i) (4,422 ) — (4,422 ) — Valuation allowance for deferred tax asset(j) (34,275 ) 7,032 (31,841 ) 8,287 Adjusted net income before tax impact of adjustments 65,086 50,784 194,924 162,289 Tax impact of adjustments(k) (8,891 ) (12,703 ) (35,410 ) (23,818 ) Adjusted net income from continuing operations $ 56,195 $ 38,081 $ 159,514 $ 138,471 Basic earnings (loss) per share from continuing operations $ 0.37 $ (0.07 ) $ 0.55 $ 0.23 Diluted earnings (loss) per share from continuing operations $ 0.37 $ (0.07 ) $ 0.55 $ 0.23 Adjusted basic earnings per share from continuing operations(1) $ 0.34 $ 0.23 $ 0.97 $ 0.85 Adjusted diluted earnings per share from continuing operations(1) $ 0.34 $ 0.23 $ 0.97 $ 0.85 Weighted average shares outstanding Basic 163,900 159,804 162,434 159,743 Diluted 165,124 159,804 163,686 160,713 Weighted average shares outstanding for Adjusted Net Income Basic 163,900 159,804 162,434 159,743 Diluted 165,124 161,113 163,686 160,713 (1) Adjusted Earnings Per Share is calculated under the two-class method. Under the two-class method, adjusted earnings per share is calculated using adjusted net income attributable to common shares, which is derived by reducing adjusted net income by the amount attributable to participating securities. Adjusted Net Income attributable to participating securities used in the basic earnings per share calculations was less than $1 million and $1 million for the three and nine months ended September 27, 2025 , respectively, and $1 million and $3 million for the three and nine months ended September 28, 2024 , respectively. Adjusted Net Income attributable to participating securities used in the diluted earnings per share calculation was less than $1 million for the three and nine months ended September 27, 2025 and September 28, 2024 . Adjusted EBITDA Adjusted EBITDA is considered a non-GAAP financial measure under the Securities and Exchange Commission’s (“SEC”) rules because it excludes certain amounts included in net income calculated in accordance with GAAP. Management believes that Adjusted EBITDA is a meaningful measure to share with investors because it facilitates comparison of the current period performance with that of the comparable prior period. In addition, Adjusted EBITDA affords investors a view of what management considers to be Driven Brand’s core operating performance as well as the ability to make a more informed assessment of such operating performance as compared with that of the prior period. Please see the company’s Annual Report on Form 10-K for the fiscal year ended December 28, 2024 , filed with the SEC on February 26, 2025 , for additional information on Adjusted EBITDA. The tables below reflect the calculation of Adjusted EBITDA for the three and nine months ended September 27, 2025 , compared to the three and nine months ended September 28, 2024 . Net Income to Adjusted EBITDA Reconciliation (Unaudited) Three Months Ended Nine Months Ended (in thousands) September 27 , 2025 September 28 , 2024 September 27 , 2025 September 28 , 2024 Net income (loss) from continuing operations $ 60,862 $ (11,480 ) $ 90,161 $ 37,289 Income tax (benefit) expense (21,659 ) 16,474 (7,487 ) 45,292 Interest expense, net 23,603 43,674 91,496 119,241 Depreciation and amortization 34,828 33,418 102,883 97,358 EBITDA 97,634 82,086 277,053 299,180 Acquisition related costs(a) (214 ) (393 ) 784 1,572 Non-core items and project costs, net(b) 18,557 6,424 32,770 16,166 Cloud computing amortization(c) 6,055 1,022 15,191 3,436 Share-based compensation expense(d) 5,191 12,798 28,269 35,641 Foreign currency transaction (gain) loss, net(e) (5,419 ) 765 (17,406 ) 5,767 Asset sale leaseback (gain) loss, net, impairment, notes receivable loss, and closed store expenses(f) 9,907 29,036 63,387 36,213 Loss on debt extinguishment(g) 4,549 205 4,549 205 Adjusted EBITDA $ 136,260 $ 131,943 $ 404,597 $ 398,180 Adjusted EBITDA, Adjusted Net Income and Adjusted Earnings Per Share Footnotes (a) Consists of acquisition costs as reflected within the consolidated statements of operations, including legal, consulting and other fees, and expenses incurred in connection with acquisitions completed during the applicable period, as well as inventory rationalization expenses incurred in connection with acquisitions. As acquisitions occur in the future, we expect to incur similar costs and, under U.S. GAAP, such costs relating to acquisitions are expensed as incurred and not capitalized. (b) Consists of discrete items and project costs, including third-party professional costs associated with strategic transformation initiatives as well as non-recurring payroll-related costs and non-ordinary course legal settlements. (c) Includes non-cash amortization expenses relating to cloud computing arrangements. (d) Represents non-cash share-based compensation expense. (e) Represents foreign currency transaction (gains) losses, net that primarily related to the remeasurement of our intercompany loans as well as gains and losses on cross currency swaps. (f) Consists of the following items (i) (gains) losses, net on sale leasebacks, disposal of assets, or sale of business; (ii) net losses (gains) on sale for assets held for sale; (iii) impairment of certain fixed assets and operating lease right-of-use assets related to closed and underperforming locations, lease exit costs and other costs associated with stores that were closed prior to the respective lease termination dates; and (iv) loss on fair value of the Seller Note . (g) Represents charges incurred related to the Company’s full repayment of the Term Loan in conjunction with the sale of the U.S. Car Wash business in the current year and charges incurred related to the Company’s partial repayment of Senior Secured Notes in conjunction with the sale of its Canadian distribution business in the prior year. (h) Consists of amortization related to acquired intangible assets as reflected within depreciation and amortization in the consolidated statement of operations. (i) Consists of the accelerated amortization of an interest rate hedge associated with the Series 2022-1 Senior Securitization Notes, which was refinanced in October 2025 . (j) Represents valuation allowances on income tax carryforwards in certain domestic jurisdictions that are not more likely than not to be realized. (k) Represents the tax impact of adjustments associated with the reconciling items between net income from continuing operations and Adjusted Net Income, excluding the provision for uncertain tax positions and valuation allowance for certain deferred tax assets. To determine the tax impact of the deductible reconciling items, we utilized statutory income tax rates ranging from 9% to 36% depending upon the tax attributes of each adjustment and the applicable jurisdiction. DRIVEN BRANDS HOLDINGS INC. AND SUBSIDIARIES ADJUSTED EBITDA RECONCILIATION (UNAUDITED) Three Months Ended Nine Months Ended (in thousands) September 27 , 2025 September 28 , 2024 September 27 , 2025 September 28 , 2024 Take 5 $ 107,307 $ 93,287 $ 316,378 $ 280,583 Franchise Brands 49,734 50,196 139,560 151,989 Car Wash 15,030 16,000 66,715 56,200 Corporate and Other (35,811 ) (27,540 ) (118,056 ) (90,592 ) Adjusted EBITDA $ 136,260 $ 131,943 $ 404,597 $ 398,180 DRIVEN BRANDS HOLDINGS INC. AND SUBSIDIARIES ADDITIONAL INFORMATION ON KEY PERFORMANCE INDICATORS (UNAUDITED) Three Months Ended September 27, 2025 (in thousands) Take 5 Franchise Brands Car Wash Corporate and Other Total System-wide Sales Franchise stores $ 155,871 $ 1,086,892 $ — $ — $ 1,242,763 Company-operated stores 255,749 4,720 — 70,790 331,259 Independently operated stores — — 51,410 — 51,410 Total System-wide Sales $ 411,620 $ 1,091,612 $ 51,410 $ 70,790 $ 1,625,432 Store Count (in whole numbers) Franchise stores 502 2,663 — — 3,165 Company-operated stores 780 13 — 213 1,006 Independently operated stores — — 717 — 717 Total Store Count 1,282 2,676 717 213 4,888 Three Months Ended September 28, 2024 (in thousands) Take 5 Franchise Brands Car Wash Corporate and Other Total System-wide Sales Franchise stores $ 118,846 $ 1,084,819 $ — $ — $ 1,203,665 Company-operated stores 231,021 4,674 — 63,103 298,798 Independently operated stores — — 49,959 — 49,959 Total System-wide Sales $ 349,867 $ 1,089,493 $ 49,959 $ 63,103 $ 1,552,422 Store Count (in whole numbers) Franchise stores 425 2,653 — — 3,078 Company-operated stores 695 13 — 216 924 Independently operated stores — — 719 — 719 Total Store Count 1,120 2,666 719 216 4,721 Nine Months Ended September 27, 2025 (in thousands) Take 5 Franchise Brands Car Wash Corporate and Other Total System-wide Sales Franchise stores $ 441,678 $ 3,186,848 $ — $ — $ 3,628,526 Company-operated stores 763,998 13,366 — 201,306 978,670 Independently operated stores — — 189,841 — 189,841 Total System-wide Sales $ 1,205,676 $ 3,200,214 $ 189,841 $ 201,306 $ 4,797,037 Store Count (in whole numbers) Franchise stores 502 2,663 — — 3,165 Company-operated stores 780 13 — 213 1,006 Independently operated stores — — 717 — 717 Total Store Count 1,282 2,676 717 213 4,888 Nine Months Ended September 28, 2024 (in thousands) Take 5 Franchise Brands Car Wash Corporate and Other Total System-wide Sales Franchise stores $ 340,424 $ 3,252,714 $ — $ — $ 3,593,138 Company-operated stores 682,701 14,286 — 187,957 884,944 Independently operated stores — — 163,286 — 163,286 Total System-wide Sales $ 1,023,125 $ 3,267,000 $ 163,286 $ 187,957 $ 4,641,368 Store Count (in whole numbers) Franchise stores 425 2,653 — — 3,078 Company-operated stores 695 13 — 216 924 Independently operated stores — — 719 — 719 Total Store Count 1,120 2,666 719 216 4,721 View source version on businesswire.com : https://www.businesswire.com/news/home/20251104850553/en/ Shareholder/Analyst inquiries: Steve Alexander [email protected] (972) 467-6180 Media inquiries: Taylor Blanchard [email protected] (704) 644-8129 Source: Driven Brands

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