The call reflects a positive outlook due to significant improvements in operational execution and promising results from strategic initiatives, despite some ongoing challenges in same-store sales and high preopening expenses.

Company Guidance

In the Dave & Buster's First Quarter 2025 earnings call, the leadership highlighted significant strides in improving operational performance and the positive impact of their back-to-basics strategy. Despite a first-quarter comp store sales decrease of 8.3%, the company noted a progressive recovery, with a decline of 11.9% in February narrowing to 4.3% by April. This improvement continued into the second quarter, with comps down just 2.2% in the first five weeks. Revenue for the quarter was reported at $568 million, with adjusted EBITDA at $136 million, reflecting a 24% margin. The company's strong financial position was underlined by $96 million in operating cash flow and a net total leverage ratio of 3.1x. Leadership is optimistic about upcoming growth, with plans for 10 to 12 new store openings in fiscal 2025 and continued international expansion. Additionally, strategic initiatives such as the reintroduction of the Eat & Play Combo, a new Summer Pass, and a robust marketing strategy have shown encouraging early results, contributing to the positive trajectory.

Improved Operating Results

The company's operating results significantly improved over the first quarter, driven by the back-to-basics strategy. May saw encouraging results with positive sales during Memorial Day weekend, and positive same-store sales in 11 of the last 30 days.

Successful Marketing Initiatives

Reintroduction of the Eat & Play combo and the introduction of the first-ever Summer Pass have shown promising results, contributing to higher food and beverage sales since April.

Remodel Outperformance

Completed 48 remodels which outperformed the system by over 700 basis points over the last three months, indicating effective investment strategy in store upgrades.

New Store Openings and Relocation Success

Opened four new Dave & Buster's locations and relocated the Honolulu store, which recorded the highest weekly sales ever in the company's history with week 1 sales exceeding $1 million.

International Expansion

Plans to open at least seven more international locations over the next year, with agreements for over 35 additional stores in coming years.

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)	0.97 / -	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.