RRGBMEDIUM SIGNALFINANCIAL10-K

Red Robin showed meaningful improvement in operating performance with substantially reduced net losses, though cash position weakened and capital expenditures increased significantly.

The company's financial trajectory appears to be stabilizing with losses narrowing considerably year-over-year, suggesting operational improvements are taking hold. However, the declining cash position combined with higher capital spending indicates management is investing heavily in the business while working with tighter liquidity constraints.

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

Red Robin demonstrated notable financial improvement with net losses substantially reduced from the prior year, though this came alongside a 45.6% increase in interest expense reflecting higher borrowing costs. The company increased capital expenditures by 36% to $60.0M while total debt declined modestly to $170.2M, but cash reserves fell 35% to $19.9M. The overall picture suggests operational progress amid tighter cash management, with total assets declining 12.1% and stockholders' equity remaining deeply negative at -$106.3M.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
+70%
-$77.5M-$23.3M

Net income grew 70% — bottom-line growth signals improving overall business health.

Interest Expense
P&L
+45.6%
$14.2M$20.6M

Interest expense surged 45.6% — significant debt increase or rising rates materially impacting earnings.

Capital Expenditure
Cash Flow
+36%
$44.1M$60.0M

Capital expenditure jumped 36% — major investment cycle underway; assess returns on deployment.

Cash & Equivalents
Balance Sheet
-35%
$30.7M$19.9M

Cash declined 35% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Stockholders Equity
Balance Sheet
-26.2%
-$84.3M-$106.3M

Equity decreased 26.2% — buybacks or losses reducing book value, monitor solvency ratios.

Total Assets
Balance Sheet
-12.1%
$641.3M$563.5M

Total assets contracted 12.1% — asset sales, write-downs, or balance sheet optimization underway.

Current Assets
Balance Sheet
-10.6%
$99.4M$88.9M

Current assets declined 10.6% — monitor working capital adequacy and short-term liquidity.

Total Debt
Balance Sheet
-10.2%
$189.5M$170.2M

Debt reduced 10.2% — deleveraging strengthens balance sheet and reduces financial risk.

LANGUAGE CHANGES
NEW — 2026-02-25
PRIOR — 2025-02-26
ADDED
Management's Discussion and Analysis of Financial Condition and Results of Operations 23 ITEM 7A.
Forward-looking statements include statements regarding our expectations, beliefs, intentions, plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are not historical facts.
Business Overview Red Robin Gourmet Burgers, Inc., a Delaware corporation, is the parent company for Red Robin International, Inc., a Nevada corporation, that, together with its subsidiaries, primarily operates, franchises, and develops casual dining restaurants in North America famous for serving more than 20 craveable, high-quality burgers with Bottomless Steak Fries and sides in a fun environment welcoming to guests of all ages.
In 2002, we completed our initial public offering, listing on The Nasdaq Global Select Market.
As of the end of our fiscal year on December 28, 2025, there were 475 Red Robin locations in North America.
As of December 28, 2025, the Company owned 385 restaurants located in 39 states, and had 90 franchised restaurants in 13 states and one Canadian province.
We refer to our fiscal years as 2025, 2024, and 2023 throughout this Annual Report on Form 10-K.
Our fiscal years, fiscal year end dates, and the number of weeks in each period are summarized in the table below: Fiscal Year Year End Date Number of Weeks in Fiscal Year Current and Prior Fiscal Years: 2025 December 28, 2025 52 2024 December 29, 2024 52 2023 December 31, 2023 53 Upcoming Fiscal Years: 2026 December 27, 2026 52 2027 December 26, 2027 52 Business Strategy In July of 2025, the Company released its First Choice strategic plan, which is designed to drive long-term stockholder value and make Red Robin the "first choice" for guests, team members, and investors.
To build on our value proposition, Red Robin released the Big Yummm Burger Deal in fiscal 2025 to deliver a compelling, affordable meal option that reinforces Red Robin's commitment to great taste and value.
In fiscal 2025, we had an average check per guest of $18.76, which was a 5.3% increase compared to fiscal 2024.
REMOVED
rrgb-20241229 0001171759 2024 FY FALSE 17,467,493 94.1 P2D P5Y http://fasb.org/us-gaap/2024#OtherNonrecurringIncomeExpense http://fasb.org/us-gaap/2024#OtherAssetsNoncurrent http://fasb.org/us-gaap/2024#OtherAssetsNoncurrent http://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2024#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2024#OtherLiabilitiesNoncurrent P3Y P3Y 18.
Management's Discussion and Analysis of Financial Condition and Results of Operations 24 ITEM 7A.
Business Overview Red Robin Gourmet Burgers, Inc., together with its subsidiaries, primarily operates, franchises, and develops casual dining restaurants in North America famous for serving more than 20 craveable, high-quality burgers with Bottomless Steak Fries and sides in a fun environment welcoming to Guests of all ages.
In 2001, we formed Red Robin Gourmet Burgers, Inc., a Delaware corporation, and consummated a reorganization of the company.
has owned, either directly or indirectly, all of the outstanding capital stock or membership interests, respectively, of Red Robin International, Inc.
and our other operating subsidiaries through which we operate our Company-owned restaurants.
As of the end of our fiscal year on December 29, 2024, there were 498 Red Robin restaurants, of which 407 were Company-owned and 91 were operated by franchisees.
As of December 29, 2024, there were Red Robin restaurants in 39 states and one Canadian province.
Financial information for our operating segment is included in the Notes to the Consolidated Financial Statements in Part II, Item 8 of this Annual Report on Form 10-K.
We refer to our fiscal years as 2024, 2023, and 2022 throughout this Annual Report on Form 10-K.
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