TWIN HOSPITALITY GROUP INC. REPORTS FISCAL FOURTH QUARTER AND FULL FISCAL YEAR 2024 FINANCIAL RESULTS
Twin Hospitality Group (NASDAQ: TWNP) reported its Q4 and full fiscal year 2024 results. The company opened nine new Twin Peaks lodges in 2024 and completed two Smokey Bones conversions. For Q4 2024, total revenue decreased 8.2% to $86.5 million, with a net loss of $12.0 million. System-wide sales declined 4.0%, and same-store sales dropped 0.6%.
For full fiscal year 2024, total revenue increased 53.2% to $353.8 million, with system-wide sales growth of 25.3%. However, the company reported a net loss of $48.2 million compared to $13.8 million in 2023. Twin Peaks signed four area development agreements committing to 24 new lodges, expanding their development pipeline to over 100 lodges. The company targets 9-11 new openings in 2025 as part of their long-term goal of 650 domestic and 250 international locations.
Twin Hospitality Group (NASDAQ: TWNP) ha riportato i risultati del quarto trimestre e dell'intero anno fiscale 2024. L'azienda ha aperto nove nuove lodge Twin Peaks nel 2024 e ha completato due conversioni di Smokey Bones. Per il quarto trimestre 2024, il fatturato totale è diminuito dell'8,2% a 86,5 milioni di dollari, con una perdita netta di 12,0 milioni di dollari. Le vendite a livello di sistema sono diminuite del 4,0%, e le vendite nei negozi comparabili sono scese dello 0,6%.
Per l'intero anno fiscale 2024, il fatturato totale è aumentato del 53,2% a 353,8 milioni di dollari, con una crescita delle vendite a livello di sistema del 25,3%. Tuttavia, l'azienda ha riportato una perdita netta di 48,2 milioni di dollari rispetto ai 13,8 milioni del 2023. Twin Peaks ha firmato quattro accordi di sviluppo territoriale impegnandosi a 24 nuove lodge, espandendo il loro piano di sviluppo a oltre 100 lodge. L'azienda punta a 9-11 nuove aperture nel 2025 come parte del loro obiettivo a lungo termine di 650 sedi nazionali e 250 internazionali.
Twin Hospitality Group (NASDAQ: TWNP) informó sobre sus resultados del cuarto trimestre y del año fiscal completo 2024. La compañía abrió nueve nuevas cabañas Twin Peaks en 2024 y completó dos conversiones de Smokey Bones. Para el cuarto trimestre de 2024, los ingresos totales disminuyeron un 8,2% a 86,5 millones de dólares, con una pérdida neta de 12,0 millones de dólares. Las ventas a nivel de sistema cayeron un 4,0%, y las ventas en tiendas comparables disminuyeron un 0,6%.
Para el año fiscal completo 2024, los ingresos totales aumentaron un 53,2% a 353,8 millones de dólares, con un crecimiento de ventas a nivel de sistema del 25,3%. Sin embargo, la compañía reportó una pérdida neta de 48,2 millones de dólares en comparación con los 13,8 millones de 2023. Twin Peaks firmó cuatro acuerdos de desarrollo de área comprometiéndose a 24 nuevas cabañas, ampliando su pipeline de desarrollo a más de 100 cabañas. La compañía tiene como objetivo 9-11 nuevas aperturas en 2025 como parte de su meta a largo plazo de 650 ubicaciones nacionales y 250 internacionales.
트윈 호스피탈리티 그룹 (NASDAQ: TWNP)는 2024 회계연도 4분기 및 전체 결과를 보고했습니다. 이 회사는 2024년에 아홉 개의 새로운 트윈 피크 롯지를 열었고, 두 개의 스모키 본즈 변환을 완료했습니다. 2024년 4분기 동안 총 수익은 8.2% 감소하여 8,650만 달러에 이르렀으며, 순손실은 1,200만 달러로 보고되었습니다. 시스템 전체 매출은 4.0% 감소했으며, 동일 매장 매출은 0.6% 감소했습니다.
2024 회계연도의 전체 수익은 53.2% 증가하여 3억 5,380만 달러에 이르렀으며, 시스템 전체 매출 성장률은 25.3%에 달했습니다. 그러나 회사는 2023년의 1,380만 달러에 비해 4,820만 달러의 순손실을 보고했습니다. 트윈 피크스는 24개의 새로운 롯지에 대한 4개의 지역 개발 계약을 체결하여 100개 이상의 롯지로 개발 파이프라인을 확장했습니다. 이 회사는 2025년에 9-11개의 새로운 개장을 목표로 하고 있으며, 이는 650개의 국내 및 250개의 국제 위치라는 장기 목표의 일환입니다.
Twin Hospitality Group (NASDAQ: TWNP) a annoncé ses résultats pour le 4ème trimestre et l'ensemble de l'exercice fiscal 2024. L'entreprise a ouvert neuf nouveaux lodges Twin Peaks en 2024 et a achevé deux conversions Smokey Bones. Pour le 4ème trimestre 2024, le chiffre d'affaires total a diminué de 8,2% pour atteindre 86,5 millions de dollars, avec une perte nette de 12,0 millions de dollars. Les ventes à l'échelle du système ont chuté de 4,0%, et les ventes dans les magasins comparables ont baissé de 0,6%.
Pour l'exercice fiscal complet 2024, le chiffre d'affaires total a augmenté de 53,2% pour atteindre 353,8 millions de dollars, avec une croissance des ventes à l'échelle du système de 25,3%. Cependant, l'entreprise a enregistré une perte nette de 48,2 millions de dollars par rapport à 13,8 millions de dollars en 2023. Twin Peaks a signé quatre accords de développement de zone s'engageant à 24 nouveaux lodges, élargissant ainsi son pipeline de développement à plus de 100 lodges. L'entreprise vise 9-11 nouvelles ouvertures en 2025 dans le cadre de son objectif à long terme de 650 emplacements nationaux et 250 internationaux.
Twin Hospitality Group (NASDAQ: TWNP) hat seine Ergebnisse für das 4. Quartal und das gesamte Geschäftsjahr 2024 bekannt gegeben. Das Unternehmen eröffnete 2024 neun neue Twin Peaks Lodges und schloss zwei Smokey Bones Umwandlungen ab. Für das 4. Quartal 2024 sanken die Gesamterlöse um 8,2% auf 86,5 Millionen Dollar, mit einem Nettoverlust von 12,0 Millionen Dollar. Der Umsatz im gesamten System ging um 4,0% zurück, und die gleichen Ladenverkäufe fielen um 0,6%.
Für das gesamte Geschäftsjahr 2024 stiegen die Gesamterlöse um 53,2% auf 353,8 Millionen Dollar, mit einem Umsatzwachstum im gesamten System von 25,3%. Das Unternehmen berichtete jedoch von einem Nettoverlust von 48,2 Millionen Dollar im Vergleich zu 13,8 Millionen Dollar im Jahr 2023. Twin Peaks unterzeichnete vier Entwicklungsvereinbarungen für Regionen, die sich zu 24 neuen Lodges verpflichten, und erweitert damit ihre Entwicklungs-Pipeline auf über 100 Lodges. Das Unternehmen zielt auf 9-11 neue Eröffnungen im Jahr 2025 als Teil ihres langfristigen Ziels von 650 nationalen und 250 internationalen Standorten.
- 53.2% increase in full-year revenue to $353.8 million
- 25.3% system-wide sales growth in FY2024
- Development pipeline expanded to over 100 lodges
- Secured agreements for 24 new lodge openings
- Successfully refinanced to 30-year securitization facility
- Q4 revenue declined 8.2% to $86.5 million
- Net loss increased to $48.2 million in FY2024 from $13.8 million in FY2023
- Same-store sales declined 3.1% in FY2024
- Restaurant contribution margin decreased to 9.2% from 13.1%
- Q4 net loss widened to $12.0 million from $8.8 million
Insights
Twin Hospitality Group's Q4 and full-year 2024 results reveal a company in transition, balancing aggressive expansion with operational challenges. While the company achieved 53.2% revenue growth to
The concerning metrics lie in profitability and same-store performance. The company reported a net loss of
The company's conversion strategy represents its most promising path forward. Early results from transforming Smokey Bones locations into Twin Peaks lodges in Florida show strong initial performance, offering a faster path to market with reduced capital requirements. This approach could eventually improve overall margin structure if successfully executed across more locations.
Twin Peaks' refinancing to a 30-year securitization facility provides longer-term stability but came with a
The development pipeline of over 100 lodges and management's target of 9-11 new openings in 2025 demonstrates confidence in the concept, but execution will be critical given the current profitability challenges. The significant gap between current store count and the ambitious long-term target of 900 total locations suggests years of required capital investment ahead.
Opened Nine Twin Peaks Lodges in 2024
Completed First Smokey Bones Conversion in September 2024 and Second Smokey Bones Conversion in February 2025
Hosting Inaugural Conference Call and Webcast Today at 5:15 PM ET
LOS ANGELES, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Twin Hospitality Group Inc. (NASDAQ: TWNP) (“Twin Peaks” or the “Company”) today reported fiscal fourth quarter and full fiscal year 2024 financial results for the fiscal year ended December 29, 2024.
“2024 marked a year of significant strategic progress and we are thankful to our franchise partners, team and loyal guests for their contributions to strengthening the Twin Peaks brand,” said Joe Hummel, Chief Executive Officer of Twin Peaks. “We expanded our footprint opening nine new Twin Peak lodges and signed four area development agreements with a commitment to open 24 lodges, increasing our development pipeline to over 100 lodges. In 2025, we are targeting approximately nine to eleven Twin Peaks openings as we pursue our long-term goal of 650 domestic and 250 international lodges,”
Hummel added, “Looking ahead, we will continue to deliver exceptional guest experiences through our differentiated offering of quality dining and premier customer service, grow our brand through company and franchised expansion and optimize our real estate through additional Smokey Bones conversions. We could not be more excited to be a stand-alone publicly traded company and are working hard every day to build long-term value for our shareholders.”
“Our flexible real estate model has proven highly successful in converting legacy restaurants into Twin Peaks. These conversions enable faster time to market, lower buildout costs and accelerated return on investment,” said Ken Kuick Chief Financial Officer of Twin Peaks. “We have also made progress with our strategic plans to convert Smokey Bones into Twin Peaks. Our first Twin Peaks conversion, which opened in Lakeland, Florida last September, is exceeding expectations, while our second Twin Peaks conversion in Brandon, Florida opened this month and is off to a strong start. We project completing two additional conversions in 2025.”
Kuick added, “During the fourth quarter, we refinanced our credit facility to a new 30-year securitization facility. This refinancing stabilizes Twin Peaks’ financial structure and allows us to further drive growth,”
Highlights for Fiscal Fourth Quarter 2024 (13 weeks) versus Fiscal Fourth Quarter 2023 (14 weeks)
- Total revenue decreased
8.2% to$86.5 million compared to$94.2 million (the 14th week contributed$6.5 million in revenue during the prior year fiscal quarter)- System-wide sales declined
4.0% (the 14th week contributed$13.7 million in system-wide sales during the prior year fiscal quarter) - Twin Peaks same-store sales declined
0.6% - Two new lodge opening during the fiscal fourth quarter of 2024
- System-wide sales declined
- Loss from operations of
$7.1 million compared to$0.9 million - Net loss of
$12.0 million compared to$8.8 million - Restaurant contribution margin(1) of
8.1% (Twin Peaks14.4% and Smokey Bones0.5% ) compared to9.8% (Twin Peaks15.0% and Smokey Bones4.6% ) - Adjusted EBITDA(1) of
$4.1 million compared to$6.6 million (the 14th week contributed$0.9 million in adjusted EBITDA during the prior year fiscal quarter)
Highlights for Full Fiscal Year 2024 (52 weeks) versus Full Fiscal Year 2023 (53 weeks)
- Total revenue increased
53.2% to$353.8 million compared to$230.9 million (the 53rd week contributed$6.5 million in revenue during the prior fiscal year)- System-wide sales growth of
25.3% - Twin Peaks same-store sales declined
3.1% - Nine new store openings during fiscal 2024
- System-wide sales growth of
- Loss from operations of
$8.3 million compared to income from operations of$12.9 million - Net loss of
$48.2 million compared to$13.8 million - Restaurant contribution margin(1) of
9.2% (Twin Peaks14.7% and Smokey Bones3.5% ) compared to13.1% (Twin Peaks16.2% and Smokey Bones3.5% ) - Adjusted EBITDA(1) of
$20.7 million compared to$28.3 million (the 53rd week contributed$0.9 million in adjusted EBITDA during the previous fiscal year)
(1) Restaurant contribution margin and Adjusted EBITDA are non-GAAP measures defined below, under “Non-GAAP Measures.” Reconciliations of operating income (loss) to restaurant contribution margin and net loss to adjusted EBITDA are included in the accompanying financial tables.
Summary of Fourth Quarter 2024 Financial Results
Total revenue decreased
Costs and Expenses
Advertising expenses decreased
General and administrative expenses increased to
Other Expense, Net
Other expense, net was
Key Financial Definitions
New store openings - The number of new store openings reflects the number of stores opened during a particular reporting period. The total number of new stores per reporting period and the timing of stores openings has, and will continue to have, an impact on our results.
Same-store sales growth - Same-store sales growth reflects the change in year-over-year sales for the comparable store base, which we define as the number of stores open and in the Twin Hospitality Group system for at least eighteen months. For stores that were temporarily closed, sales in the current and prior period are adjusted accordingly. Given our focused marketing efforts and public excitement surrounding each opening, new stores often experience an initial start-up period with considerably higher than average sales volumes, which subsequently decrease to stabilized levels after three to six months.
System-wide sales growth - System wide sales growth reflects the percentage change in sales in any given fiscal period compared to the prior fiscal period for all stores.
Conference Call and Webcast
Twin Hospitality Group Inc. will host a conference call and webcast to discuss its fiscal fourth quarter 2024 financial results today at 5:15 PM ET. Hosting the conference call and webcast will be Joe Hummel, Chief Executive Officer and Ken Kuick, Co-Chief Executive Officer and Chief Financial Officer.
The conference call can be accessed live over the phone by dialing 1-877-407-0792 from the U.S. or 1-201-689-8263 internationally. A replay will be available after the call until Thursday, March 13, 2025, and can be accessed by dialing 1-844-512-2921 from the U.S. or 1-412-317-6671 internationally. The passcode is 13751621. The webcast will be available at www.twinpeaksrestaurant.com under the “Investors” section and will be archived on the site shortly after the call has concluded.
About Twin Hospitality Group Inc.
Twin Hospitality Group Inc. (NASDAQ: TWNP) is a restaurant company that strategically develops and operates and franchises specialty casual dining restaurant concepts with a goal to redefine the casual dining category with its experiential driven brands, Twin Peaks and Smokey Bones. Twin Peaks, known as the ultimate sports lodge, is an award-winning restaurant and sports bar brand with 115 locations across 27 states and Mexico and is known for its made-from-scratch food, 29=degree draft beer, innovative cocktail program and sports on wall-to-wall televisions. Smokey Bones is a full-service, meat-centric restaurant brand and concept with 55 locations, across eight states specializing in ribs and a variety of other slow-smoked, fire-grilled and seared meats, along with a full bar. For more information, please visit www.twinpeaksrestaurant.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the future financial and operating results of the Company, estimates of future EBITDA, the timing and performance of new store openings, future reductions in cost of capital and leverage ratio, our ability to conduct future accretive acquisitions and our pipeline of new store locations. Forward-looking statements generally use words such as “expect,” “foresee,” “anticipate,” “believe,” “project,” “should,” “estimate,” “will,” “plans,” “forecast,” and similar expressions, and reflect our expectations concerning the future. Forward-looking statements are subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents that we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause our actual results to differ materially from our current expectations and from the forward-looking statements contained in this press release. We undertake no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Non-GAAP Measures (Unaudited)
This press release includes the non-GAAP financial measures of EBITDA, adjusted EBITDA, Restaurant-Level Contribution and Restaurant-Level Contribution Margin.
EBITDA is defined as earnings before interest, taxes, and depreciation and amortization. We use the term EBITDA, as opposed to income (loss) from operations, as it is widely used by analysts, investors, and other interested parties to evaluate companies in our industry. We believe that EBITDA is an appropriate measure of operating performance because it eliminates the impact of expenses that do not relate to business performance. EBITDA is not a measure of our financial performance or liquidity that is determined in accordance with generally accepted accounting principles (“GAAP”), and should not be considered as an alternative to net loss as a measure of financial performance or cash flows from operations as measures of liquidity, or any other performance measure derived in accordance with GAAP.
Adjusted EBITDA is defined as EBITDA (as defined above), excluding expenses related to acquisitions, refranchising losses, impairment charges, and certain non-recurring or non-cash items that the Company does not believe directly reflect its core operations and may not be indicative of the Company’s recurring business operations.
Restaurant-Level Contribution represents company-owned restaurant sales less restaurant operating costs, which consist of food and beverage costs, labor and benefits costs and other operating costs. Restaurant-Level Contribution Margin represents Restaurant-Level Contribution as a percentage of company-owned restaurant sales. Restaurant-Level Contribution and Restaurant-Level Contribution Margin are neither required by, nor presented in accordance with GAAP. Restaurant-Level Contribution and Restaurant-Level Contribution Margin are not intended to be measures of free cash flow available for our management’s discretionary use, as these metrics do not consider certain cash requirements such as interest payments, tax payments and debt service requirements. Additionally, Restaurant-Level Contribution and Restaurant-Level Contribution Margin exclude general and administrative expenses, pre-opening expenses and depreciation and amortization on restaurant property and equipment, which are essential to support the operations and development of our company-owned restaurants. The Company is presenting Restaurant-Level Contribution and Restaurant-Level Contribution Margin because it believes that they are important tools for investors and analysts because they are widely-used metrics within the restaurant industry to evaluate restaurant-level productivity, efficiency and performance.
Reconciliations of net loss presented in accordance with GAAP to EBITDA, adjusted EBITDA and adjusted net loss are set forth in the tables below.
Investor Relations:
ICR
Michelle Michalski
ir@twinpeaksrestaurant.com
Media Relations:
Destinee Rollins
destinee.rollins@tprest.com
972-342-5902
Twin Hospitality Group Inc. Consolidated Statements of Operations
(in thousands, except share and per share data)
| Fiscal Quarter Ended | Fiscal Year Ended | |||||||||||||||||||||||||||||||
| Thirteen Weeks Ended | Fourteen Weeks Ended | 52 Weeks Ended | 53 Weeks Ended | |||||||||||||||||||||||||||||
| December 29, 2024 | December 31, 2023 | December 29, 2024 | December 31, 2023 | |||||||||||||||||||||||||||||
| Revenues | ||||||||||||||||||||||||||||||||
| Restaurant sales | $ | 77,617 | 89.8 | % | $ | 85,333 | 90.6 | % | $ | 320,211 | 90.5 | % | $ | 199,369 | 86.4 | % | ||||||||||||||||
| Franchise revenue | 8,864 | 10.2 | % | 8,902 | 9.4 | % | 33,590 | 9.5 | % | 31,498 | 13.6 | % | ||||||||||||||||||||
| Total revenue | 86,481 | 100.0 | % | 94,235 | 100.0 | % | 353,801 | 100.0 | % | 230,867 | 100.0 | % | ||||||||||||||||||||
| Costs and expenses | ||||||||||||||||||||||||||||||||
| Restaurant operating costs | ||||||||||||||||||||||||||||||||
| Food and beverage costs (1) | 21,247 | 27.4 | % | 23,354 | 27.4 | % | 87,414 | 27.3 | % | 53,512 | 26.8 | % | ||||||||||||||||||||
| Labor and benefits cost (1) | 25,436 | 32.8 | % | 28,061 | 32.9 | % | 103,234 | 32.2 | % | 64,024 | 32.1 | % | ||||||||||||||||||||
| Other operating costs (1) | 17,082 | 22.0 | % | 17,019 | 19.9 | % | 67,155 | 21.0 | % | 37,722 | 18.9 | % | ||||||||||||||||||||
| Occupancy costs (1) | 6,326 | 8.2 | % | 6,478 | 7.6 | % | 26,198 | 8.2 | % | 13,112 | 6.6 | % | ||||||||||||||||||||
| Advertising expense | 4,671 | 5.4 | % | 5,588 | 5.9 | % | 19,751 | 5.6 | % | 16,792 | 7.3 | % | ||||||||||||||||||||
| Pre-opening expense | 697 | 0.8 | % | 559 | 0.6 | % | 1,632 | 0.5 | % | 1,136 | 0.5 | % | ||||||||||||||||||||
| General and administrative expense | 12,072 | 14.0 | % | 8,852 | 9.4 | % | 33,232 | 9.4 | % | 19,252 | 8.3 | % | ||||||||||||||||||||
| Depreciation and amortization | 6,015 | 7.0 | % | 5,221 | 5.5 | % | 23,515 | 6.6 | % | 12,377 | 5.4 | % | ||||||||||||||||||||
| Total costs and expenses | 93,546 | 108.2 | % | 95,132 | 101.0 | % | 362,131 | 102.4 | % | 217,927 | 94.4 | % | ||||||||||||||||||||
| Income from operations | (7,065 | ) | (8.2 | )% | (897 | ) | (1.0 | )% | (8,330 | ) | (2.4 | )% | 12,940 | 5.6 | % | |||||||||||||||||
| Other (expense) income, net | ||||||||||||||||||||||||||||||||
| Interest expense | (11,108 | ) | (12.8 | )% | (10,279 | ) | (10.9 | )% | (46,137 | ) | (13.0 | )% | (29,714 | ) | (12.9 | )% | ||||||||||||||||
| Net loss on extinguishment of debt | (2,353 | ) | (2.7 | )% | — | — | % | (2,353 | ) | (0.7 | )% | — | — | % | ||||||||||||||||||
| Other (expense) income, net | 134 | 0.2 | % | 2,178 | 2.3 | % | 248 | 0.1 | % | 2,704 | 1.2 | % | ||||||||||||||||||||
| Total other expense, net | (13,327 | ) | (15.4 | )% | (8,101 | ) | (8.6 | )% | (48,242 | ) | (13.6 | )% | (27,010 | ) | (11.7 | )% | ||||||||||||||||
| Loss before income tax provision | (20,392 | ) | (23.6 | )% | (8,998 | ) | (9.5 | )% | (56,572 | ) | (16.0 | )% | (14,070 | ) | (6.1 | )% | ||||||||||||||||
| Income tax provision (benefit) | (8,399 | ) | (9.7 | )% | (230 | ) | (0.2 | )% | (8,402 | ) | (2.4 | )% | (230 | ) | (0.1 | )% | ||||||||||||||||
| Net loss | $ | (11,993 | ) | (13.9 | )% | $ | (8,768 | ) | (9.3 | )% | $ | (48,170 | ) | (13.6 | )% | $ | (13,840 | ) | (6.0 | )% | ||||||||||||
(1) As a percentage of company-owned restaurant sales
Twin Hospitality Group Inc. Consolidated EBITDA and Adjusted EBITDA Reconciliation
| Fiscal Quarter Ended | Fiscal Year Ended | |||||||||||||||
| Thirteen Weeks Ended | Fourteen Weeks Ended | 52 Weeks Ended | 53 Weeks Ended | |||||||||||||
| (In thousands) | December 29, 2024 | December 31, 2023 | December 29, 2024 | December 31, 2023 | ||||||||||||
| Net income (loss) | $ | (11,993 | ) | $ | (8,768 | ) | $ | (48,170 | ) | $ | (13,840 | ) | ||||
| Interest expense, net | 11,108 | 10,279 | 46,137 | 29,714 | ||||||||||||
| Income tax benefit | (8,399 | ) | (230 | ) | (8,402 | ) | (230 | ) | ||||||||
| Depreciation and amortization | 6,015 | 5,221 | 23,515 | 12,377 | ||||||||||||
| EBITDA | (3,269 | ) | 6,502 | 13,080 | 28,021 | |||||||||||
| Equity based compensation | — | 60 | 211 | 312 | ||||||||||||
| Store closure expense | 5,010 | — | 5,010 | — | ||||||||||||
| Net loss on extinguishment of debt | 2,353 | — | 2,353 | — | ||||||||||||
| Adjusted EBITDA | $ | 4,094 | $ | 6,562 | $ | 20,654 | $ | 28,333 | ||||||||
Twin Hospitality Group Inc. Restaurant-Level Contribution and Restaurant-Level Contribution Margin Reconciliation
| Fiscal Quarter Ended | Fiscal Year Ended | |||||||||||||||
| (In thousands, except share and per share data) | December 29, 2024 | December 31, 2023 | December 29, 2024 | December 31, 2023 | ||||||||||||
| Income (loss) from operations | $ | (7,065 | ) | $ | (897 | ) | $ | (8,330 | ) | $ | 12,940 | |||||
| Less: | ||||||||||||||||
| Royalties and franchise fees | (5,436 | ) | (5,379 | ) | (20,744 | ) | (19,539 | ) | ||||||||
| Plus: | ||||||||||||||||
| General and administrative expense | 12,072 | 8,852 | 33,232 | 19,252 | ||||||||||||
| Depreciation and amortization | 6,015 | 5,221 | 23,515 | 12,377 | ||||||||||||
| Pre-opening expense | 697 | 559 | 1,632 | 1,136 | ||||||||||||
| Restaurant-Level Contribution | $ | 6,283 | $ | 8,356 | $ | 29,305 | $ | 26,166 | ||||||||
| Company-owned restaurant sales | $ | 77,617 | $ | 85,333 | $ | 320,211 | $ | 199,369 | ||||||||
| Restaurant-Level Contribution Margin | 8.1 | % | 9.8 | % | 9.2 | % | 13.1 | % | ||||||||
FAQ
What was Twin Peaks (TWNP) revenue performance in Q4 2024?
How many new Twin Peaks locations opened in fiscal 2024?
What is Twin Peaks' (TWNP) expansion target for 2025?
How did Twin Peaks' (TWNP) same-store sales perform in fiscal 2024?
What is the status of Twin Peaks' Smokey Bones conversions?
