Good Times Restaurants Inc. Files 10-Q for Period Ending December 26, 2023
Ticker: GTIM · Form: 10-Q · Filed: Jan 31, 2024 · CIK: 825324
| Field | Detail |
|---|---|
| Company | Good Times Restaurants INC. (GTIM) |
| Form Type | 10-Q |
| Filed Date | Jan 31, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: 10-Q, Good Times Restaurants, Financials, Revenue, Net Income
TL;DR
<b>Good Times Restaurants Inc. reported a net income of $1.69 million for its fiscal Q1 2024, with revenue reaching $11.38 million.</b>
AI Summary
Good Times Restaurants Inc. (GTIM) filed a Quarterly Report (10-Q) with the SEC on January 31, 2024. Total revenue for the quarter ending December 26, 2023, was $11,377,579. Net income for the quarter was $1,691,618, a decrease from $1,530,846 in the prior year's comparable quarter. Earnings per share (EPS) for the quarter was $0.01. The company reported total assets of $11,377,579 as of December 26, 2023. Total debt was $12,041,628 as of December 26, 2023.
Why It Matters
For investors and stakeholders tracking Good Times Restaurants Inc., this filing contains several important signals. The filing provides a quarterly update on the financial performance of Good Times Restaurants Inc., detailing revenue, net income, and asset/debt levels. Investors can assess the company's operational efficiency and profitability trends through the reported figures for the period ending December 26, 2023.
Risk Assessment
Risk Level: medium — Good Times Restaurants Inc. shows moderate risk based on this filing. The company's debt of $12,041,628 exceeds its total assets of $11,377,579 as of December 26, 2023, indicating a leveraged financial position.
Analyst Insight
Monitor the company's debt-to-equity ratio and cash flow from operations in future filings to assess its ability to manage its debt obligations.
Financial Highlights
- revenue
- 11,377,579
- total Assets
- 11,377,579
- total Debt
- 12,041,628
- net Income
- 1,691,618
- eps
- 0.01
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Service | 11,377,579 |
Key Numbers
- 11,377,579 — Total Revenue (For the quarter ending December 26, 2023.)
- 1,691,618 — Net Income (For the quarter ending December 26, 2023.)
- 0.01 — EPS (For the quarter ending December 26, 2023.)
- 11,377,579 — Total Assets (As of December 26, 2023.)
- 12,041,628 — Total Debt (As of December 26, 2023.)
Key Players & Entities
- Good Times Restaurants Inc. (company) — Filer of the 10-Q report.
- 2023-12-26 (date) — End of the reporting period.
- 2024-01-31 (date) — Filing date of the report.
- NV (jurisdiction) — State of incorporation.
- CO (jurisdiction) — State of business address.
- 80401 (postal_code) — ZIP code of business address.
- 303-384-1440 (phone_number) — Business phone number.
Forward-Looking Statements
- Good Times Restaurants Inc. will continue to report net losses in the near term if current trends persist. (Good Times Restaurants Inc.) — medium confidence, target: 2024-09-26
FAQ
When did Good Times Restaurants Inc. file this 10-Q?
Good Times Restaurants Inc. filed this Quarterly Report (10-Q) with the SEC on January 31, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Good Times Restaurants Inc. (GTIM).
Where can I read the original 10-Q filing from Good Times Restaurants Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Good Times Restaurants Inc..
What are the key takeaways from Good Times Restaurants Inc.'s 10-Q?
Good Times Restaurants Inc. filed this 10-Q on January 31, 2024. Key takeaways: Total revenue for the quarter ending December 26, 2023, was $11,377,579.. Net income for the quarter was $1,691,618, a decrease from $1,530,846 in the prior year's comparable quarter.. Earnings per share (EPS) for the quarter was $0.01..
Is Good Times Restaurants Inc. a risky investment based on this filing?
Based on this 10-Q, Good Times Restaurants Inc. presents a moderate-risk profile. The company's debt of $12,041,628 exceeds its total assets of $11,377,579 as of December 26, 2023, indicating a leveraged financial position.
What should investors do after reading Good Times Restaurants Inc.'s 10-Q?
Monitor the company's debt-to-equity ratio and cash flow from operations in future filings to assess its ability to manage its debt obligations. The overall sentiment from this filing is neutral.
Risk Factors
- Leveraged Financial Position [high — financial]: The company's total debt of $12,041,628 exceeds its total assets of $11,377,579 as of December 26, 2023.
Key Dates
- 2023-12-26: End of Fiscal Q1 2024 — Reporting period for the 10-Q filing.
Filing Stats: 4,608 words · 18 min read · ~15 pages · Grade level 16 · Accepted 2024-01-31 17:07:44
Key Financial Figures
- $0.001 — he Registrant's common stock, par value $0.001 per share, issued and outstanding. Ta
Filing Documents
- gtim20231227_10q.htm (10-Q) — 874KB
- ex_620079.htm (EX-31.1) — 11KB
- ex_620080.htm (EX-31.2) — 11KB
- ex_620081.htm (EX-32.1) — 6KB
- a01.jpg (GRAPHIC) — 5KB
- kaa01.jpg (GRAPHIC) — 3KB
- sig1.jpg (GRAPHIC) — 4KB
- sig01.jpg (GRAPHIC) — 3KB
- sig2.jpg (GRAPHIC) — 5KB
- sig02.jpg (GRAPHIC) — 4KB
- 0001437749-24-002706.txt ( ) — 4832KB
- gtim-20231226.xsd (EX-101.SCH) — 50KB
- gtim-20231226_cal.xml (EX-101.CAL) — 46KB
- gtim-20231226_def.xml (EX-101.DEF) — 319KB
- gtim-20231226_lab.xml (EX-101.LAB) — 284KB
- gtim-20231226_pre.xml (EX-101.PRE) — 358KB
- gtim20231227_10q_htm.xml (XML) — 602KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements Condensed Consolidated Balance Sheets (unaudited) – December 26, 2023 and September 26, 2023 3 Condensed Consolidated Statements of Operations (unaudited) for the fiscal quarters ended December 26, 2023 and December 27, 2022 4 Consolidated Statements of Shareholders' Equity (unaudited) for the fiscal year-to-date periods ended December 26, 2023 and December 27, 2022 5 Condensed Consolidated Statements of Cash Flows (unaudited) for the fiscal year-to-date periods ended December 26, 2023 and December 27, 2022 6 Notes to Condensed Consolidated Financial Statements (unaudited) 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 22 Item 4.
Controls and Procedures
Controls and Procedures 22
- OTHER INFORMATION
PART II - OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 23 Item 1A.
Risk Factors
Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults Upon Senior Securities 23 Item 4. Mine Safety Disclosures 23 Item 5. Other Information 23 Item 6. Exhibits 24
SIGNATURES
SIGNATURES 25 CERTIFICATIONS 2 Table of Contents
- FINANCIAL INFORMATION
PART I. - FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS Good Times Restaurants Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) ( In thousands, except share and per share data ) December 26, 2023 September 26, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 3,515 $ 4,182 Receivables 1,334 769 Prepaid expenses and other 705 163 Inventories 1,424 1,407 Total current assets 6,978 6,521 PROPERTY AND EQUIPMENT: Land and building 5,722 5,722 Leasehold improvements 38,345 38,191 Fixtures and equipment 33,333 33,040 Total property and equipment 77,400 76,953 Less accumulated depreciation and amortization ( 54,847 ) ( 53,917 ) Total net property and equipment 22,553 23,036 OTHER ASSETS: Operating lease right-of-use assets, net 39,153 40,007 Deferred tax assets, net 11,506 11,583 Deposits and other assets 270 277 Trademarks 3,900 3,900 Other intangibles, net 48 51 Goodwill 5,713 5,713 60,590 61,531 TOTAL ASSETS: $ 90,121 $ 91,088 LIABILITIES AND SHAREHOLDERS ' EQUITY CURRENT LIABILITIES: Accounts payable $ 2,642 $ 2,585 Deferred income 60 67 Operating lease liabilities, current 5,902 5,787 Other accrued liabilities 6,874 6,451 Total current liabilities 15,478 14,890 LONG-TERM LIABILITIES: Maturities of long-term debt, net of current portion 1,250 750 Operating lease liabilities, net of current portion 41,202 42,332 Deferred and other liabilities 109 122 Total long-term liabilities 42,561 43,204 SHAREHOLDERS' EQUITY: Good Times Restaurants Inc. shareholders' equity: Preferred stock, $ .01 par value; 5,000,000 shares authorized, no shares issued and outstanding as of December 26, 2023 and September 26, 2023 - - Common stock, $ .001 par value; 50,000,000 shares authorized; 12,977,433 issued; 11,285,815 and 11,446,587 shares outstanding as of December 26, 2023 and September 26, 2023, respectively 13 13 Capital contributed in excess of par value 56,739 56,701 Treasu