ARKOMEDIUM SIGNALOPERATIONAL10-K

ARKO achieved strong 23% revenue growth but simultaneously reduced its physical convenience store footprint by 19% (from 1,389 to 1,118 locations), suggesting a strategic shift toward higher-performing locations.

The combination of significant store closures with revenue growth indicates ARKO is successfully optimizing its portfolio by divesting underperforming locations while growing same-store sales. However, the 13% decline in operating cash flow despite higher revenues suggests margin pressure or integration costs that warrant monitoring.

Comparing 2026-02-25 vs 2025-02-26View on EDGAR →
FINANCIAL ANALYSIS

ARKO delivered impressive 23% revenue growth to $9.1B while improving its balance sheet with 16% higher cash reserves and 17% lower inventory levels, indicating better working capital management. However, operating cash flow declined 13% despite the revenue growth, suggesting potential margin compression or one-time costs that may concern investors about the sustainability of the current growth trajectory.

FINANCIAL STATEMENT CHANGES
Revenue
P&L
+23.3%
$7.4B$9.1B

Revenue growing 23.3% — solid top-line momentum, watch margins for quality of growth.

Inventory
Balance Sheet
-17.5%
$231.2M$190.7M

Inventory reduced 17.5% — lean inventory management or demand outpacing supply.

Cash & Equivalents
Balance Sheet
+16.5%
$261.8M$305.0M

Cash grew 16.5% — improving liquidity position supports investment and shareholder returns.

Operating Cash Flow
Cash Flow
-13.2%
$221.9M$192.6M

Operating cash flow softened — monitor whether temporary working capital timing or structural deterioration.

Share Buybacks
Cash Flow
-12.6%
$32.0M$28.0M

Buyback activity reduced 12.6% — capital being redeployed elsewhere or cash conservation underway.

LANGUAGE CHANGES
NEW — 2026-02-25
PRIOR — 2025-02-26
ADDED
As of February 24, 2026, the registrant had 110,891,325 shares of its common stock, par value $0.0001 per share ( common stock ) outstanding.
is one of the largest operators of convenience stores and wholesalers of fuel in the United States ( U.S.
As of December 31, 2025, we operated 1,118 retail convenience stores under more than 25 regional store brands.
Our brands have been in existence for an average of more than 50 years, and we consider them a Family of Community Brands.
As of December 31, 2025, we supplied fuel to 2,099 dealer locations.
Additionally, we operate a fleet fueling business that included the operation of 295 proprietary and third-party cardlock locations (unstaffed fueling locations), as of December 31, 2025, and the issuance of proprietary fuel cards that provide customers access to a nationwide network of fueling sites.
We have achieved strong site count growth over the last decade, primarily through our implementation of a highly successful acquisition strategy.
From 2013 through 2025, we completed 26 acquisitions, and our site count has grown from 320 sites in 2011 to 3,512 sites as of December 31, 2025.
Since the second half of 2024, we have been implementing a multi-year transformation plan (the Transformation Plan ) that includes the conversion of a significant number of retail stores to dealer locations, leveraging our position as a leading wholesale distributor of motor fuel.
Our shares of common stock, $0.0001 par value per share ( common stock ), are listed on the Nasdaq Stock Market under the symbol ARKO.
REMOVED
As of February 24, 2025, the registrant had 115,771,318 shares of its common stock, par value $0.0001 per share ( common stock ) outstanding.
is a leading independent convenience store operator and one of the largest convenience store chains in the United States ( U.S.
As of December 31, 2024, we operated 1,389 retail convenience stores under more than 25 regional store brands that have been in existence for an average of approximately 50 years, which we consider a Family of Community Brands.
As of December 31, 2024, we supplied fuel to 1,922 dealer locations.
Additionally, we operate a fleet fueling business that included, as of December 31, 2024, the operation of 280 proprietary and third-party cardlock locations (unstaffed fueling locations) and the issuance of proprietary fuel cards that provide customers access to a nationwide network of fueling sites.
We have achieved strong site count growth over the last decade, primarily by implementing a highly successful acquisition strategy.
From 2013 through 2024, we completed 26 acquisitions, and our site count has grown from 320 sites in 2011 to 3,591 sites as of December 31, 2024.
During 2024, we commenced development and initial implementation of a multi-year transformation plan (the Transformation Plan ).
As part of this plan, we converted a significant number of retail stores throughout our chain to dealer sites, and we are in the process of converting a significant number of additional retail stores to dealer sites, leveraging the fact that we are also a leading wholesale distributor of motor fuel.
Such conversions will enable us to focus the investment elements of our Transformation Plan in a more select group of stores that we believe will create a strong platform for future growth within the highly fragmented and competitive convenience store industry.
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