Nathan's Famous Files Q2 2025 10-Q

TL;DR

NATHAN'S FAMOUS FILES Q2 2025 10-Q - FINANCIALS OUT

AI Summary

Nathan's Famous, Inc. filed its 10-Q for the period ending September 29, 2024. The company reported financial results for its second fiscal quarter of 2025. Key financial data and operational updates are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Nathan's Famous, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Players & Entities

• NATHANS FAMOUS, INC. (company) — Filer
• 20240929 (date) — Period of Report
• 20241107 (date) — Filing Date
• ONE JERICHO PLAZA (location) — Business Address
• JERICHO (location) — City
• NY (location) — State
• 11753 (postal_code) — ZIP Code
• 516-338-8500 (phone_number) — Business Phone

FAQ

Filing Documents

• nath20240929_10q.htm (10-Q) — 1265KB
• ex_740903.htm (EX-31.1) — 12KB
• ex_740904.htm (EX-31.2) — 12KB
• ex_740905.htm (EX-32.1) — 5KB
• ex_740906.htm (EX-32.2) — 5KB
• 0001437749-24-033728.txt ( ) — 6922KB
• nath-20240929.xsd (EX-101.SCH) — 67KB
• nath-20240929_def.xml (EX-101.DEF) — 425KB
• nath-20240929_lab.xml (EX-101.LAB) — 341KB
• nath-20240929_pre.xml (EX-101.PRE) — 464KB
• nath-20240929_cal.xml (EX-101.CAL) — 53KB
• nath20240929_10q_htm.xml (XML) — 1204KB

Financial Statements

Financial Statements. 3 Consolidated Balance Sheets – September 29, 2024 (Unaudited) and March 31, 2024 3 Consolidated Statements of Earnings (Unaudited) – Thirteen and Twenty-six Weeks Ended September 29, 2024 and September 24, 2023 4 Consolidated Statements of Changes in Stockholders' Deficit (Unaudited) – Thirteen Weeks Ended September 29, 2024 and September 24, 2023 5 Consolidated Statements of Changes in Stockholders' Deficit (Unaudited) – Twenty-six Weeks Ended September 29, 2024 and September 24, 2023 6 Consolidated Statements of Cash Flows (Unaudited) – Twenty-six Weeks Ended September 29, 2024 and September 24, 2023 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8 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. 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 31 Item 4.

Controls and Procedures

Controls and Procedures. 32 PART II. OTHER INFORMATION Item 1. Legal Proceedings. 33 Item 1A. Risk Factors. 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 33 Item 3. Defaults Upon Senior Securities. 33 Item 4. Mine Safety Disclosures. 33 Item 5. Other Information. 33 Item 6. Exhibits. 34

SIGNATURES

SIGNATURES 35 -2-

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. Nathan ' s Famous, Inc. and Subsidiaries CONSOLIDATED BALANCE SHEETS September 29, 2024 and March 31, 2024 (in thousands, except share and per share amounts) September 29, 2024 March 31, 2024 (Unaudited) ASSETS CURRENT ASSETS Cash and cash equivalents (Note E) $ 31,207 $ 21,027 Accounts and other receivables, net (Note G) 15,672 14,731 Inventories 1,005 842 Prepaid expenses and other current assets (Note H) 806 2,176 Total current assets 48,690 38,776 Property and equipment, net of accumulated depreciation of $ 12,095 and $ 11,687 , respectively 2,394 2,673 Operating lease assets (Note Q) 5,494 6,203 Goodwill 95 95 Intangible asset, net (Note I) 608 695 Deferred income taxes 295 275 Other assets 127 141 Total assets $ 57,703 $ 48,858 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES Current portion of long-term debt $ 2,400 $ - Accounts payable 6,395 5,744 Accrued expenses and other current liabilities (Note K) 5,052 7,615 Current portion of operating lease liabilities (Note Q) 1,907 1,887 Deferred franchise fees 318 327 Total current liabilities 16,072 15,573 Long-term debt, net of unamortized debt issuance costs of $ 413 and $ 438 , respectively (Note P) 57,187 59,562 Operating lease liabilities (Note Q) 4,084 4,937 Other liabilities 861 810 Deferred franchise fees 783 899 Total liabilities 78,987 81,781 COMMITMENTS AND CONTINGENCIES (Note R) STOCKHOLDERS' DEFICIT Common stock, $ .01 par value; 30,000,000 shares authorized; 9,374,130 shares issued; and 4,084,615 shares outstanding at September 29, 2024 and March 31, 2024 94 94 Additional paid-in capital 63,353 62,936 Retained earnings (Accumulated deficit) 1,931 ( 9,291 ) Stockholders' equity before treasury stock 65,378 53,739 Treasury stock, at cost, 5,289,515 shares at September 29, 2024 and March 31, 2024 ( 86,

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS September 29, 2024 (in thousands, except per share amounts) (Unaudited) NOTE A - BASIS OF PRESENTATION The accompanying consolidated financial statements of Nathan's Famous, Inc. and subsidiaries (collectively "Nathan's," the "Company," "we," "us" or "our") as of and for the thirteen and twenty-six week periods ended September 29, 2024 and September 24, 2023 have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). The unaudited financial statements include all adjustments (consisting of normal recurring adjustments) which, in the opinion of management, are necessary for a fair presentation of financial condition, results of operations and cash flows for the periods presented. However, our results of operations are seasonal in nature, and the results of any interim period are not necessarily indicative of results for any other interim period or the full fiscal year. The Company uses a 52-53 week fiscal year ending on the Sunday closest to March 31. The 2025 fiscal year will end on March 30, 2025 and will contain 52 weeks. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to the requirements of the U.S. Securities and Exchange Commission ("SEC"). Management believes that the disclosures included in the accompanying consolidated interim financial statements and footnotes are adequate to make the information not misleading but should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in Nathan's Annual Report on Form 10-K for the fiscal year ended March 31, 2024 as filed with the SEC on June 12, 2024. Our significant interim accounting policies include the recognition of advertising fund expense in proportion to advertising fund revenue, and the recognition of income taxes using an estimated annual effective tax rate.

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View this 10-Q filing on SEC EDGAR