Driven Brands Holdings Inc.

Driven Brands Holdings Inc. reported a substantial increase in net income for the first quarter of 2026, reaching $54.83 million compared to $9.93 million in the prior year. Net revenue grew to $484.44 million from $447.61 million year-over-year. The company also reported a significant gain on the sale of discontinued operations. The filing also details restatements for prior periods due to identified errors, impacting the comparative figures for the three months ended March 29, 2025.

Driven Brands Holdings Inc. reported a solid start to fiscal year 2026 with an 8% increase in revenue to $484.4 million for the first quarter ended March 28, 2026. The company highlighted strong performance in its Take 5 segment, which saw a 4.5% same-store sales growth, contributing to an overall 2% same-store sales increase. Net income and Adjusted EBITDA also saw year-over-year improvements, with the company reiterating its full-year financial outlook and noting progress in reducing leverage.

Driven Brands Holdings Inc. received a Nasdaq notice on June 1, 2026, for non-compliance with listing rules due to the delayed filing of its Q1 2026 Form 10-Q. This delay stems from a previously announced restatement of financial statements and the late filing of its 2025 Form 10-K, which has since been filed. The notice has no immediate impact on the company's stock listing or trading. Driven Brands has until July 31, 2026, to submit a compliance plan and up to November 25, 2026, to regain compliance, and is working to file the 10-Q promptly.

Driven Brands Holdings Inc. reported its financial results for the fourth quarter and fiscal year ended December 27, 2025, with fiscal 2025 revenue increasing 6.3% to $1.9 billion. The company also announced the restatement of previously issued financial statements for fiscal years 2023 and 2024, and interim periods, to correct accounting errors. Additionally, Driven Brands completed the divestiture of its international car wash business (IMO) in January 2026 for approximately 411 million, using the proceeds to reduce debt and improve its pro forma net leverage ratio to 3.3x Adjusted EBITDA. The company provided a fiscal 2026 outlook, expecting revenue between $1.95 billion and $2.05 billion.

Driven Holdings, LLC, a subsidiary of Driven Brands Holdings Inc. (DRVN), secured a limited waiver and fourth amendment to its Credit Agreement from its lenders. This agreement waives certain defaults and events of default related to the company's intent to restate financial statements for fiscal years 2023 and 2024, and specific quarters in 2025. The amendment also extends financial statement delivery deadlines, allowing the company time to address its reporting issues.

Driven Brands Holdings Inc.'s indirect wholly-owned subsidiaries, U.S. Manager and Canadian Manager, received a waiver extending deadlines for financial statement delivery. The deadline for the 2025 annual financial statements (Form 10-K) is now June 10, 2026. Quarterly financial statements for the fiscal quarter ending March 28, 2026, are due 45 days after the 2025 annual statements are delivered. This waiver prevents a technical default under their Second Amended and Restated Base Indenture.

Driven Brands Holdings Inc. received a notice from Nasdaq on April 15, 2026, indicating non-compliance with listing rules due to the delayed filing of its FY2025 Form 10-K. This notice does not immediately affect the company's stock listing or trading. The company also issued a press release on April 21, 2026, regarding its expected performance for Q4 2025, FY 2025, and Q1 2026, and provided updates on the filing status of its FY2025 10-K and the anticipated impact on its Q1 2026 10-Q filing.