Shake Shack Inc
shakeshack.comWhat Do They Do?
Sells made-to-order burgers, crispy chicken, shakes and other food and drinks to guests through Shake Shack restaurants.
10-K for FY2025, filed Feb 26, 2026Shake Shack serves modern, fun and elevated versions of American classics using only premium ingredients. We are known for our…View ↗
How Do They Make Money?
Guests pay for meals at the point of sale; for third-party delivery orders, Shake Shack is paid by the delivery platform after the order is handed over. Licensed Shacks generate sales-based royalties and upfront territory, opening, and termination fees.
10-K for FY2025, filed Feb 26, 2026Revenue from Shack sales is recognized when payment is tendered at the point of sale, net of discounts, as the performance obligation has…View ↗
Delivery services are fulfilled by third-party delivery partners whether ordered through the Shack app, website (collectively…View ↗
“System-wide sales” is an operating measure and consists of sales from Company-operated Shacks and licensed Shacks. The Company does not…View ↗
-
10-K for FY2025, filed Feb 26, 2026
FY2025 revenue by product or service ↗
$1.4B
-
10-K for FY2025, filed Feb 26, 2026
$1.4B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Shack sales
Sold outright
10-K for FY2025, filed Feb 26, 2026 |
96%
FY2022: 97%
|
Shack sales, FY2025
$1.4B Sources
|
Sold outright |
|
Sales-based royalties
Licensed
10-K for FY2025, filed Feb 26, 2026 |
3.6%
FY2022: 3.4%
|
Sales-based royalties, FY2025
$51.5M Sources
|
Licensed |
|
Initial territory, opening, and termination fees
Licensed
|
0.2%
FY2022: 0.1%
|
Initial territory, opening, and termination fees, FY2025
$2.6M Sources
|
Licensed |
Who Are Their Customers?
Guests order food at Company-operated Shacks, through the app and website, and through third-party delivery platforms; licensed Shacks are operated by licensees.
10-K for FY2025, filed Feb 26, 2026
Do Revenues Turn Into Profits?
Yes. It kept 3 cents of every revenue dollar as net income in FY2025 and turned 4 cents into free cash flow.
10-K for FY2025, filed Feb 26, 2026
$62.5MView ↗
10-K for FY2025, filed Feb 26, 2026
$45.7MView ↗
10-K for FY2025, filed Feb 26, 2026
$56.5MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
-
Jun 2, 2026
Lowered revenue and net income guidance
Second-quarter revenue guidance fell to $415-$420 million from $424-$428 million; fiscal-year net income guidance fell to $45-$55 million from $50-$60 million.
Sources
8-K, filed Jun 2, 2026
Total revenue $424 - $428 million $415 - $420 millionView ↗
-
May 7, 2026
Appointed Michelle Hook as chief financial officer
Sources
8-K, filed May 7, 2026
On May 6, 2026, the Board of Directors (the “Board”) of Shake Shack Inc. (“Shake Shack”) appointed Michelle Hook to serve as its Chief…View ↗
-
Mar 2, 2026
Corrected the annual report's new-Shack sales contribution
The correction changed the contribution from newly opened Company-operated Shacks from $218.5 million to $68.3 million.
Sources
8-K, filed Mar 2, 2026
The disclosure under the caption “Shack Sales” on page 50 of the Form 10-K incorrectly stated the dollar amount of the increase in Shack…View ↗
Growing. Revenue grew 95% in 4 years, from $739.9M in FY2021 to $1.4B in FY2025, about 18% a year.
Loading...
