The earnings call reflects a positive sentiment due to significant improvements in same-store sales, successful marketing initiatives, and strong performance of remodeled and new stores. However, challenges remain with the decline in Q1 comps and increased expenses.

Company Guidance

During the Dave & Buster's First Quarter 2025 Earnings Conference Call, several key metrics and strategic initiatives were highlighted to demonstrate the company's progress and future expectations. The company reported a revenue of $568 million and a net income of $22 million, translating to $0.62 per diluted share. Adjusted net income was $27 million or $0.76 per diluted share, with an adjusted EBITDA of $136 million, resulting in a margin of 24%. Despite a challenging start, the company saw improvement, particularly in May, with positive same-store sales on 11 out of the last 30 days. The leadership emphasized their back-to-basics strategy, which includes changes in marketing, operations, and game investments, along with a robust store manager incentive plan. The company continues to focus on expanding its footprint with new store openings and remodels, achieving a total net leverage ratio of 3.1x. They plan to keep capital expenditures under $220 million for fiscal 2025 and anticipate international expansion, aiming for 7 additional international locations next year. Overall, Dave & Buster's leadership is optimistic about their strategy driving improved revenue, adjusted EBITDA, and free cash flow, ultimately enhancing shareholder value.

Significant Improvements in Same-Store Sales

Same-store sales showed sequential improvement, with comps down 2.2% in the first 5 weeks of Q2, compared to a decline of 8.3% in Q1, indicating positive momentum from strategic changes.

Successful Marketing Initiatives

Reintroduction of the Eat & Play combo and the introduction of the Summer Pass have garnered positive feedback, contributing to improved traffic and higher guest engagement.

Positive Impact from Remodels

48 remodels completed with remodeled stores outperforming the system by over 700 basis points in the last 3 months, showcasing the effectiveness of the remodel strategy.

Strong New Store Performance

New store openings in Hawaii and other locations showed strong performance, with the relocated Honolulu store achieving the highest weekly sales ever recorded for the company.

Dave & Busters Entertainment (PLAY) Earnings, Revenues Date & History

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PLAY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 03, 2025	2025 (Q2)	0.94 / -	0.99	―	―	―
Jun 10, 2025	2025 (Q1)	1.01 / 0.62	0.99	-37.37% (-0.37)	―
Apr 07, 2025	2024 (Q4)	0.68 / 0.24	0.88	-72.73% (-0.64)	―
Dec 10, 2024	2024 (Q3)	-0.39 / -0.84	-0.12	-600.00% (-0.72)	―
Sep 10, 2024	2024 (Q2)	0.85 / 0.99	0.6	65.00% (+0.39)	―
Jun 12, 2024	2024 (Q1)	1.72 / 0.99	1.45	-31.72% (-0.46)	―
Apr 02, 2024	2023 (Q4)	1.09 / 0.88	0.8	10.00% (+0.08)	―
Dec 05, 2023	2023 (Q3)	-0.18 / -0.12	0.04	-400.00% (-0.16)	―
Sep 06, 2023	2023 (Q2)	0.93 / 0.60	0.59	1.69% (+0.01)	―
Jun 06, 2023	2023 (Q1)	1.26 / 1.45	1.35	7.41% (+0.10)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

PLAY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 10, 2025	$25.87	$30.46	+17.74%
Apr 07, 2025	$16.19	$16.06	-0.80%
Dec 10, 2024	$36.80	$29.41	-20.08%
Sep 10, 2024	$29.86	$31.25	+4.66%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.