Ark Restaurants Corp. ( (ARKR) ) has released its Q2 earnings. Here is a breakdown of the information Ark Restaurants Corp. presented to its investors.
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Ark Restaurants Corp., a company operating a diverse portfolio of dining establishments across the United States, has released its financial results for the second quarter of 2025, highlighting a challenging period marked by decreased revenues and significant net losses.
In the latest earnings report, Ark Restaurants Corp. reported total revenues of $39.7 million for the 13 weeks ending March 29, 2025, a decrease from $42.3 million in the same period the previous year. The company also noted a net loss of $9.3 million, significantly larger than the $1.4 million loss reported in the second quarter of 2024.
Key financial metrics reveal a decline in adjusted EBITDA to a negative $691,000 from a negative $321,000 year-over-year. The company faced a goodwill impairment charge of $3.4 million and a full valuation allowance related to deferred tax assets amounting to $4.8 million. Additionally, Ark Restaurants experienced a gain from the termination of the Tampa Food Court lease but incurred a loss from the closure of El Rio Grande.
Looking ahead, Ark Restaurants Corp. is navigating legal challenges related to its leases at Bryant Park Grill & Cafe and The Porch at Bryant Park. The company continues to operate these locations as a holdover tenant while pursuing legal avenues to secure lease extensions, acknowledging the potential material impact on its business if favorable terms are not achieved.