BT Brands reports second quarter profit of $55,000

BT Brands Inc. (NASDAQ: BTBD) reported net income of $55,000, or $0.01 per share, for the second quarter ended June 29, 2025, compared to a net loss of $70,000 in the prior-year quarter. This marks a return to profitability for the restaurant company.

Revenue decreased to $3.8 million from $4.1 million in the second quarter of 2024, reflecting the impact of operating two fewer locations year-over-year. The operating loss narrowed to $75,000 from $189,000 in the prior-year period.

Restaurant-level adjusted EBITDA increased 51% to $661,000 from $438,000 in the second quarter of 2024. The company ended the quarter with $3.5 million in total cash and short-term investments.

BT Brands completed the sale of its Richmond, Indiana property after the quarter ended, resulting in an expected gain of approximately $250,000 to be reported in the third quarter.

The company operates 14 restaurants, including six Burger Time locations, a 40.7% ownership interest in Bagger Dave's Burger Tavern (five locations), Keegan's Seafood Grille, Pie In The Sky Coffee and Bakery, and Schnitzel Haus.

CEO Gary Copperud stated that the company continues working with an investment banker to evaluate merger opportunities and believes completing an accretive transaction by year-end is realistic. The company anticipates maintaining profitability for the remainder of 2025 but is not providing detailed financial forecasts.

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