Pinstripes, Inc. ( (PNST) ) has released its Q2 earnings. Here is a breakdown of the information Pinstripes, Inc. presented to its investors.
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Pinstripes, Inc. is an experiential dining and entertainment company offering a mix of bistro dining, bowling, bocce, and private event spaces, primarily operating in the hospitality and entertainment sector.
The latest earnings report from Pinstripes, Inc. for the second quarter of fiscal 2025 reveals a 7.5% increase in total revenue, reaching $26.5 million, driven largely by the development of new venues, despite facing challenges with operating losses and same-store sales declines.
Key financial figures indicate an operating loss of $7.9 million and a net loss of $9.3 million, both of which increased compared to the same period last year. The revenue growth was primarily attributed to new venue openings, although same-store sales saw a decrease of 9.4%. Efforts to reduce costs have been significant, with a goal to remove $15 million in annualized costs, and there have been initiatives to enhance local marketing and brand awareness.
Despite the increased operating and net losses, Pinstripes’ Venue-Level EBITDA for mature venues rose slightly, showcasing potential for profitability in established locations. Adjusted EBITDA showed an improvement, reducing losses from $4.2 million in the previous year to $3.1 million in the current quarter, signaling some operational efficiency gains.
Looking ahead, Pinstripes’ management remains focused on cost rationalization and marketing initiatives to drive profitability and long-term shareholder value. The company is also actively exploring options to strengthen its financial position and expand its venue footprint, reflecting optimism about future growth opportunities within the experiential entertainment market.
