RED ROBIN GOURMET BURGERS (RRGB)

• Red Robin Gourmet Burgers, Inc. has appointed Christopher Meyer as its interim Chief Financial Officer, effective December 1, 2025, replacing Todd Wilson, who departs on December 12, 2025.
• Mr. Meyer will serve as the principal financial and accounting officer under an independent contractor agreement that is effective December 1, 2025, and expires on May 31, 2026.
• As interim CFO, Mr. Meyer will receive compensation at a rate of $20,000 per week and will be reimbursed for reasonable travel expenses.
• Mr. Meyer previously held the position of Executive Vice President, Chief Financial Officer at Bloomin' Brands, Inc. from April 2019 to April 2024.

• Red Robin Gourmet Burgers, Inc. announced an at-the-market equity offering program on November 10, 2025, enabling the company to offer and sell shares of its common stock with an aggregate gross sales price of up to $40 million.
• The company intends to use the net proceeds from this program for working capital, debt repayment, and other general purposes.
• Evercore Group L.L.C. will act as the sales agent, facilitating sales through methods such as "at-the-market offering" transactions on The Nasdaq Global Select Market.
• Red Robin will pay Evercore a commission of up to 3% of the gross sales price from each share sale.

• Red Robin Gourmet Burgers (RRGB) reported Q3 2025 total revenues of $265.1 million and comparable restaurant revenue declined 1.2%, with Adjusted EBITDA reaching $7.6 million, an increase of $3.4 million year-over-year.
• The company achieved sequential traffic improvement in Q3 2025, moving from approximately down 7% at the start of the quarter to approximately negative 1.4% at the end, supported by the Big Yum promotion and 2.9% traffic growth in the off-premise business, which now accounts for approximately 25% of sales. Restaurant-level operating profit improved by 90 basis points year-over-year due to labor efficiency.
• RRGB updated its 2025 guidance, now expecting Adjusted EBITDA of at least $65 million (up from $60-65 million) and restaurant-level operating profits of at least 12.5% (up from 12-13%).
• To strengthen its balance sheet, RRGB secured a six-month extension for its credit agreement to September 2027 at a 50 basis point cost, established an at-the-market (ATM) program to sell up to $40 million in equity, and is pursuing debt refinancing and refranchising efforts.
• The company also announced that its CFO, Todd, plans to move on to another opportunity.

• Red Robin Gourmet Burgers, Inc. (RRGB) has established an "at-the-market equity offering" program (ATM Program).
• The company may offer and sell shares of its common stock with an aggregate gross sales price of up to $40 million.
• The net proceeds from sales under the ATM Program are intended for working capital, debt repayment, and other general purposes.
• The shares will be offered through Evercore Group L.L.C. as the sales agent, with sales potentially occurring at market prices, prices related to prevailing market prices, or negotiated prices.

• For the fiscal third quarter ended October 5, 2025, Red Robin Gourmet Burgers, Inc. reported total revenues of $265.1 million, a decrease of $9.5 million compared to the prior year, and a net loss of $18.4 million, which was a $0.5 million improvement from the previous year's net loss.
• Adjusted EBITDA for Q3 2025 increased 81% to $7.6 million compared to $4.2 million in the fiscal third quarter of 2024.
• For the year-to-date period of fiscal 2025, total revenues were $941.2 million, a decrease of $22.2 million, while Adjusted EBITDA increased 86% to $58.0 million compared to $31.2 million in the prior year.
• The company updated its fiscal 2025 guidance, now expecting Adjusted EBITDA of at least $65 million (up from prior guidance of $60 to $65 million) and restaurant level operating profit of at least 12.5% (up from 12.0% to 13.0%).
• Comparable restaurant revenue decreased 1.2% in Q3 2025, and the company anticipates a decline of approximately 3% in the fourth quarter of fiscal 2025.

• For the fiscal third quarter ended October 5, 2025, Red Robin Gourmet Burgers, Inc. reported total revenues of $265.1 million and a net loss of $18.4 million. Adjusted EBITDA increased 81% to $7.6 million compared to the fiscal third quarter of 2024.
• Year-to-date fiscal 2025, total revenues were $941.2 million, and the net loss was $13.2 million. Adjusted EBITDA increased 86% to $58.0 million compared to the year-to-date period of fiscal 2024.
• The company updated its fiscal 2025 guidance, with current projections for Adjusted EBITDA of at least $65 million and restaurant level operating profit of at least 12.5%. It also anticipates comparable restaurant sales to decline approximately 3% in the fourth quarter of fiscal 2025.
• As of October 5, 2025, Red Robin had outstanding borrowings of $177.7 million under its credit facility and liquidity of approximately $50.7 million.

The updated fiscal 2025 guidance metrics are as follows:

• Red Robin Gourmet Burgers, Inc. announced that Todd Wilson, Chief Financial Officer, will depart from the company effective December 12, 2025.
• Jesse Griffith has been promoted to Chief Operations Officer, effective October 30, 2025.
• The company provided a Third-Quarter 2025 outlook, expecting comparable restaurant sales to decline approximately 1.2% and Adjusted EBITDA to be between $7.1 million and $7.6 million.
• Jesse Griffith's compensation package as COO includes an annual base salary of $425,000, a target annual bonus of 65% of his base salary, and a target long-term incentive award value of 70% of his base salary for fiscal year 2026.

• Todd Wilson will resign as Chief Financial Officer effective December 12, 2025, with Red Robin initiating a search for his successor.
• Jesse Griffith has been promoted to Chief Operations Officer, having joined the company as Senior Vice President of Operations in March 2023.
• For the third quarter of 2025, Red Robin anticipates comparable restaurant sales to decline approximately 1.2% and Adjusted EBITDA to be between $7.1 million and $7.6 million, exceeding previous expectations.

• Red Robin Gourmet Burgers Inc. unveiled its "First Choice Plan" on July 15, 2025, aimed at driving sustainable growth in traffic, profits, and cash flow, supported by a strengthened financial position.
• For Q2 2025, the company expects comparable restaurant sales to decrease approximately 4%, while adjusted EBITDA is anticipated to exceed its prior expectation of $13 million to $16 million.
• Key initiatives under the plan include the launch of the Big Yum! Deal on July 21, 2025, offering a Red's Double Tavern burger, bottomless side, and beverage for $9.99 to drive near-term traffic.
• To strengthen its financial position, Red Robin plans to reduce G&A expenses by approximately $10 million annually at full run rate and is pursuing tactical refranchising, with transactions expected to complete in early 2026. The company-owned store percentage could range from 65% to 75% from the current 80%.

• David A. Pace is appointed as President and CEO effective immediately, leveraging his extensive industry experience to lead the company’s next phase
• G.J. Hart steps down as President and CEO after a five-and-a-half-year tenure, transitioning to a senior advisory role until September 2025
• Anthony S. Ackil is named Chairman of the Board, succeeding Mr. Pace in that role while Mr. Pace remains on the Board
• The announcement reinforces the company's transformation under its North Star plan with an optimistic first quarter 2025 outlook, including a 3% increase in comparable restaurant sales