$ARKR
ARK RESTAURANTS CORP

2024 Q2 Form 10-Q Financial Statement

#000077954424000033 Filed on May 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $50.40M $42.26M
YoY Change 20.29%
Cost Of Revenue $13.30M $12.14M
YoY Change 12.79%
Gross Profit $37.09M $30.12M
YoY Change 23.22%
Gross Profit Margin 73.6% 71.28%
Selling, General & Admin $26.43M $24.43M
YoY Change 12.04%
% of Gross Profit 71.26% 81.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.032M $1.057M
YoY Change -9.31%
% of Gross Profit 2.78% 3.51%
Operating Expenses $33.77M $31.32M
YoY Change 12.26%
Operating Profit $824.0K -$1.202M
YoY Change 3482.61%
Interest Expense -$138.0K $161.0K
YoY Change -129.68%
% of Operating Profit -16.75%
Other Income/Expense, Net -$138.0K -$150.0K
YoY Change
Pretax Income $686.0K -$1.352M
YoY Change -404.89%
Income Tax -$213.0K -$147.0K
% Of Pretax Income -31.05%
Net Earnings $640.0K -$1.449M
YoY Change -232.23%
Net Earnings / Revenue 1.27% -3.43%
Basic Earnings Per Share $0.18 -$0.40
Diluted Earnings Per Share $0.18 -$0.40
COMMON SHARES
Basic Shares Outstanding 3.604M shares 3.604M shares
Diluted Shares Outstanding 3.627M shares 3.604M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.47M $10.41M
YoY Change -35.9%
Cash & Equivalents $11.47M $10.41M
Short-Term Investments
Other Short-Term Assets $2.120M $2.895M
YoY Change 0.66%
Inventory $2.468M $2.362M
Prepaid Expenses
Receivables $5.375M $4.042M
Other Receivables $277.0K $292.0K
Total Short-Term Assets $21.71M $20.00M
YoY Change -20.65%
LONG-TERM ASSETS
Property, Plant & Equipment $31.52M $32.84M
YoY Change -9.01%
Goodwill $7.440M $7.440M
YoY Change -57.34%
Intangibles $4.220M $4.220M
YoY Change 0.0%
Long-Term Investments $6.539M $6.528M
YoY Change 0.82%
Other Assets $2.161M $2.161M
YoY Change 0.32%
Total Long-Term Assets $144.8M $149.5M
YoY Change -12.73%
TOTAL ASSETS
Total Short-Term Assets $21.71M $20.00M
Total Long-Term Assets $144.8M $149.5M
Total Assets $166.5M $169.6M
YoY Change -13.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.214M $4.538M
YoY Change 26.03%
Accrued Expenses $15.47M $15.08M
YoY Change 2.48%
Deferred Revenue $4.400M $5.463M
YoY Change -25.63%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.683M $1.946M
YoY Change -29.41%
Total Short-Term Liabilities $30.76M $27.03M
YoY Change -7.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $4.227M
YoY Change -100.0%
Other Long-Term Liabilities $86.52M $88.23M
YoY Change -7.32%
Total Long-Term Liabilities $86.52M $92.45M
YoY Change -13.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.76M $27.03M
Total Long-Term Liabilities $86.52M $92.45M
Total Liabilities $117.3M $119.5M
YoY Change -11.65%
SHAREHOLDERS EQUITY
Retained Earnings $34.62M $34.66M
YoY Change -22.39%
Common Stock $14.31M $15.03M
YoY Change 2.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $48.94M $49.69M
YoY Change
Total Liabilities & Shareholders Equity $166.5M $169.6M
YoY Change -13.85%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $640.0K -$1.449M
YoY Change -232.23%
Depreciation, Depletion And Amortization $1.032M $1.057M
YoY Change -9.31%
Cash From Operating Activities $3.160M $208.0K
YoY Change 4.84%
INVESTING ACTIVITIES
Capital Expenditures $623.0K $356.0K
YoY Change -51.63%
Acquisitions
YoY Change
Other Investing Activities $15.00K $14.00K
YoY Change -99.7%
Cash From Investing Activities -$608.0K -$342.0K
YoY Change -116.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.497M -1.576M
YoY Change -81.96%
NET CHANGE
Cash From Operating Activities 3.160M 208.0K
Cash From Investing Activities -608.0K -342.0K
Cash From Financing Activities -1.497M -1.576M
Net Change In Cash 1.055M -1.710M
YoY Change -168.64%
FREE CASH FLOW
Cash From Operating Activities $3.160M $208.0K
Capital Expenditures $623.0K $356.0K
Free Cash Flow $2.537M -$148.0K
YoY Change 46.99%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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USE OF ESTIMATES — The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The accounting estimates that require management’s most difficult and subjective judgments include: projected cash flows, allowances for potential bad debts on receivables, assumptions regarding discount rates related to lease accounting, the useful lives and recoverability of its long-lived assets, such as property, right-of-use assets and intangibles, fair values of financial instruments and share-based compensation, estimates made in connection with acquisitions and impairment analyses, the realizable value of its tax assets and determining when investment impairments are other-than-temporary. Because of the uncertainty in such estimates, actual results may differ from these estimates.
us-gaap Asset Impairment Charges
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CY2024Q1 arkr Accrued Occupancy And Other Operating Expenses Current
AccruedOccupancyAndOtherOperatingExpensesCurrent
2798000 usd
CY2023Q3 arkr Accrued Occupancy And Other Operating Expenses Current
AccruedOccupancyAndOtherOperatingExpensesCurrent
2615000 usd
CY2024Q1 arkr Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
12468000 usd
CY2023Q3 arkr Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
13829000 usd
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
3469000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
3401000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
6923000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
6929000 usd
CY2024Q1 arkr Occupancy Lease Cost
OccupancyLeaseCost
122000 usd
CY2023Q2 arkr Occupancy Lease Cost
OccupancyLeaseCost
116000 usd
arkr Occupancy Lease Cost
OccupancyLeaseCost
244000 usd
arkr Occupancy Lease Cost
OccupancyLeaseCost
230000 usd
CY2024Q1 us-gaap Variable Lease Cost
VariableLeaseCost
747000 usd
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
412000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
2124000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
1769000 usd
CY2024Q1 us-gaap Lease Cost
LeaseCost
4338000 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
3929000 usd
us-gaap Lease Cost
LeaseCost
9291000 usd
us-gaap Lease Cost
LeaseCost
8928000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
9161000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
9754000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y8M12D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.062
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
6979000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
12881000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
12143000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
11960000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12057000 usd
CY2024Q1 arkr Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
79284000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
135304000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
38998000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
96306000 usd
CY2024Q1 us-gaap Notes Payable
NotesPayable
6241000 usd
CY2023Q3 us-gaap Notes Payable
NotesPayable
7222000 usd
CY2024Q1 us-gaap Notes Payable Current
NotesPayableCurrent
1946000 usd
CY2023Q3 us-gaap Notes Payable Current
NotesPayableCurrent
1987000 usd
CY2024Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-68000 usd
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-95000 usd
CY2024Q1 us-gaap Long Term Notes Payable
LongTermNotesPayable
4227000 usd
CY2023Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
5140000 usd
CY2023Q4 arkr Paycheck Protection Program Loan Forgiveness Income
PaycheckProtectionProgramLoanForgivenessIncome
285000 usd
CY2023Q4 arkr Paycheck Protection Program Loan Interest Forgiveness Income
PaycheckProtectionProgramLoanInterestForgivenessIncome
6000 usd
CY2024Q1 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
304000 usd
CY2024Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
14000 usd
CY2023Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
27000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
15000 usd
CY2024Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
542000 usd
arkr Number Of Stock Option Plans
NumberOfStockOptionPlans
2 plan
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
107500 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
14.80
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.39
CY2024Q1 arkr Share Based Compensation Arrangement By Share Based Payment Award Options Granted In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedInPeriodFairValue
472000 usd
arkr Maximum Amount Of Compensation Paid Under Cash Bonus Plan
MaximumAmountOfCompensationPaidUnderCashBonusPlan
1000000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
471250 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
19.57
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y2M12D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
107500 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
14.80
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
578750 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.68
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y8M12D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
279000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
409375 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
20.62
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y3M18D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
140000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
370000 shares
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
68000 usd
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
80000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
145000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
159000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
550000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y9M18D
arkr Paycheck Protection Program Loan Forgiveness Income
PaycheckProtectionProgramLoanForgivenessIncome
285000 usd
arkr Paycheck Protection Program Loan Forgiveness Income
PaycheckProtectionProgramLoanForgivenessIncome
272000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.027
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
133000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.070
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3604000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3604000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3600000 shares
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
46000 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3604000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3604000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3646000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
471250 shares
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
471250 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
544125 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
418125 shares
CY2024Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.1875
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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arkr-20240330_htm.xml Edgar Link completed
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arkr-20240330_cal.xml Edgar Link unprocessable