Total Revenue

+4% (from $206.2M in Q1 2024 to $214.8M in Q1 2025)

Total revenue increased modestly due primarily to the acquisition and operation of new restaurants—47 Applebee's and 10 IHOP—which shifted previously franchised outlets to company-operated status, thereby contributing directly to revenue; this partly offsets declines in traditional franchise and rental operations seen in previous periods. " " " "

Net Income

−53% (from $17,473K in Q1 2024 to $8,197K in Q1 2025)

Net income dropped sharply as the mix shifted towards company-operated sales, which generally offer lower margins; increased costs and expense pressures are likely contributors, reflecting trends similar to prior periods where higher operating expenses and interest costs adversely affected profitability. " " "

Company Restaurant Sales

Massive increase (from $274K in Q1 2024 to $21,573K in Q1 2025)

Company restaurant sales surged dramatically due to the conversion of acquired restaurants (47 Applebee's and 10 IHOP) from franchise to company-operated, marking a significant operational shift from the previous period’s predominantly franchise model and resulting in a substantial revenue boost. " "

Operating Cash Flows

−47% (from $30,553K in Q1 2024 to $16,133K in Q1 2025)

Operating cash flows declined significantly despite rising total revenue; this contraction is attributed to lower gross segment profit and changes in working capital management—factors that align with earlier period challenges such as timing of rental and tenant improvement reimbursements. " "

Franchise Operations

Not a direct YoY percentage change provided; value at $166.2M in Q1 2025

Franchise operations remain a steady revenue backbone with royalties ($76.3M) and advertising ($70.5M) continuing to perform consistently despite shifts in outlet ownership; the maintained strength in these streams contrasts with the operational changes seen in company-operated sales and highlights the enduring role of the franchise model from prior periods. " " " "