Quarterly ResultMay 11, 2026, 05:11 PM
Ark Restaurants Q2 Net Loss Narrows to $(1.81)M; EPS $(0.50)
AI Summary
Ark Restaurants Corp. reported a significant narrowing of its net loss for the second quarter of 2026 to $(1.81) million, or $(0.50) per share, compared to $(9.26) million in the prior year. Adjusted EBITDA also improved, despite a decline in total revenues to $36.58 million and a 7.6% drop in same-store sales. The company continues to face material adverse effects from an ongoing legal dispute over its Bryant Park leases, which led to a $566,000 write-off of prepaid rent. Operations in Las Vegas showed increased cash flow, while the D.C. market and Florida revenues remained challenged.
Key Highlights
- Q2 2026 net loss attributable to Ark Restaurants Corp. narrowed to $(1,808,000) or $(0.50) per share, from $(9,258,000) in Q2 2025.
- Q2 2026 total revenues were $36,584,000, down from $39,725,000 in Q2 2025, with same-store sales declining 7.6%.
- Q2 2026 adjusted EBITDA improved to $(592,000) from $(691,000) in Q2 2025.
- For the 26 weeks ended March 28, 2026, net loss was $(912,000) on revenues of $77,333,000.
- Cash and cash equivalents were $11,487,000 and total debt was $7,553,000 as of March 28, 2026.
- The company recorded a $566,000 charge to write off prepaid rent related to the Bryant Park lease dispute.
- Bryant Park locations accounted for 13.3% of total revenue for the 26 weeks ended March 28, 2026.