Pinstripes Holdings Earnings Call Transcripts
Fiscal Year 2025
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Revenue grew 10.4% year-over-year to $35.5 million, with strong cost savings driving the best corporate profitability in two years. Venue-level EBITDA margin was 19.2%, and new stores were profitable, but liquidity remains a focus as expansion depends on additional financing.
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Q2 revenue rose 7.5% year-over-year to $26.5M, driven by new stores, but open play and event comps declined. Cost savings and marketing adjustments are improving recent trends, with positive Q3 cash flow and higher EBITDA expected. Liquidity is sufficient through most of 2025.
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First quarter revenue grew 19% year-over-year to $30.6 million, driven by new venues, but margins declined due to new store drag and softer consumer demand. Cost-saving initiatives are expected to improve profitability, with adjusted EBITDA guidance set at $8–$12 million for fiscal 2025.
Fiscal Year 2024
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Revenue grew 5.9% year-over-year in Q4, driven by new venues and positive traffic, while mature store margins improved significantly. Fiscal 2025 guidance includes four new openings, margin expansion, and a 2% price increase, with $10 million in cost savings expected.
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Strong private event sales and a food-first model drive high margins and growth, with $10 million in cost savings expected to boost profitability. Expansion continues in top-tier U.S. markets and internationally via partnerships, targeting 6–8 new sites annually.