Successful Rollout of New Reservation System
Completed the system-wide rollout of the reservation system ahead of schedule, which has been received positively by guests and team members.
Improved Food and Beverage Costs
Food and beverage costs as a percentage of sales improved by 90 basis points to 28.3% compared to the prior year, driven by pricing and supply chain efforts.
New Restaurant Openings and Market Expansion
Opened three new restaurants in North Scottsdale, Arizona, Lynnwood, Washington, and McKinney, Texas, with subsequent openings in Woodlands, Texas, and Salt Lake City, Utah. Lynnwood quickly became one of the top five restaurants.
Strong Adjusted EBITDA Growth
Adjusted EBITDA increased by 20% to $5.4 million compared to $4.5 million in the prior year quarter, despite higher restaurant operating costs.
Robust Cash Position
The company ended the fiscal third quarter with $93 million in cash, cash equivalents, and investments, and no debt.
Increase in Annual Sales Guidance
The company raised its full fiscal year 2025 sales guidance to approximately $281 million.