Pinstripes, Inc. ( (PNST) ) has released its Q3 earnings. Here is a breakdown of the information Pinstripes, Inc. presented to its investors.
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Pinstripes Holdings, Inc. is a company offering a unique blend of dining, bowling, bocce, and event hosting services within the restaurant and entertainment industry.
In its fiscal 2025 third-quarter earnings report, Pinstripes reported a 10.4% increase in total revenue, reaching $35.5 million, with notable growth in both food and beverage and recreational revenue streams. However, the company faced a net loss of $8.1 million, a stark contrast to the net income of $12.2 million reported in the previous year.
Key financial highlights include a 19.2% Venue-Level EBITDA margin, despite a decrease in same-store sales by 7.7%. The company showed an improvement in Adjusted EBITDA, climbing to $2.7 million from $0.4 million in the prior year. Cost reduction initiatives positively impacted the bottom line, although operational losses slightly increased due to new venue openings. The departure of CFO Tony Querciagrossa was also announced, as the company seeks a successor.
Looking forward, Pinstripes is focused on overcoming liquidity challenges, exploring strategic alternatives to strengthen its balance sheet, and leveraging new funding to support cash flow. The management remains optimistic about the company’s unique positioning in the market and its potential growth through new venue openings and enhanced cost efficiencies.
