HighGravityDataSigned in · PRO
Guidance history, every release
Raised · a change from the previous releaseSame · restated unchanged— · not stated in that releaseEvery value links to its sentence in the filing
| Metric | Oct 30, 2024 FY24 Q3 | Jan 13, 2025 FY24 Q4 | May 1, 2025 FY25 Q1 | Jul 31, 2025 FY25 Q2 | Oct 30, 2025 FY25 Q3 | Jan 12, 2026 FY25 Q4 | May 7, 2026 FY26 Q1 | Aug 5, 2026 FY26 Q2 |
|---|---|---|---|---|---|---|---|---|
| For FY2026 | ||||||||
| Licensing revenue | — | — | — | — | — | New“$59.0 million to $61.0 million” | — | — |
| Total revenue | — | — | — | — | — | New“$1.6 billion to $1.7 billion” | — | — |
| Adjusted EBITDA | — | — | — | — | — | New“$237.0 million to $245.0 million” | — | — |
| Net income | — | — | — | — | — | New“$50.0 million to $60.0 million” | — | — |
| Restaurant-level profit margin | — | — | — | — | — | New“approximately 22.6% to 22.8% of Shack sales” | — | — |
| Restaurant-level profit margin | — | — | — | — | — | New“23.0% to 23.5% of Shack sales” | — | — |
| Adjusted Pro Forma Tax Rate | — | — | — | — | — | New“approximately 24.0% to 25.0%” | — | — |
| Company-operated openings | — | — | — | — | — | New“approximately 55-60” | — | — |
| Depreciation and amortization expense | — | — | — | — | — | New“$128.0 million to $132.0 million” | — | — |
| Equity-based compensation | — | — | — | — | — | New“approximately $28.0 million” | — | — |
| General and administrative expenses | — | — | — | — | — | New“12.0% to 13.0% of Total revenue” | — | — |
| Licensed openings | — | — | — | — | — | New“approximately 40-45” | — | — |
| Pre-opening costs | — | — | — | — | — | New“$25.0 million to $27.0 million” | — | — |
| Same-Shack sales | — | — | — | — | — | New“positive LSD%” | — | — |
| Shacks to be built | — | — | — | — | — | New“55-60” | — | — |
| For FY2025 | ||||||||
| Licensing revenue | — | New“$49.0 million - $51.0 million” | — | — | — | — | — | — |
| Total revenue | — | New“$1.45 billion - $1.48 billion” | — | — | — | — | — | — |
| Adjusted EBITDA | — | New“$200.0 million - $210.0 million” | — | — | — | Raised“approximately $208.0 million to $212.0 million” | — | — |
| Net income | — | New“$45.0 million - $60.0 million” | — | — | — | Narrowed“approximately $50.0 million to $60.0 million” | — | — |
| Restaurant margins | — | New“approximately 22%” | — | — | — | — | — | — |
| Restaurant-level profit margin | — | New“approximately 22.0% of Shack sales” | — | — | — | Raised“approximately 22.5% to 22.7% of Shack sales” | — | — |
| Restaurant-level profit margin expansion | — | — | — | — | — | New“at least 50 bps expansion per year” | — | — |
| Adjusted Pro Forma Tax Rate | — | New“approximately 24.0% - 25.0%” | — | — | — | Raised“approximately 26.0% to 27.0%” | — | — |
| Company-operated openings | — | New“approximately 45” | — | — | — | — | — | — |
| Depreciation and amortization expense | — | New“$108.0 million - $112.0 million” | — | — | — | Lowered“approximately $106.0 million to $108.0 million” | — | — |
| Equity-based compensation | — | New“approximately $22.0 million” | — | — | — | Lowered“approximately $20.0 million” | — | — |
| General and administrative expenses | — | New“approximately 11.5% of Total revenue” | — | — | — | Raised“approximately 12.1% to 12.3% of Total revenue” | — | — |
| Licensed openings | — | New“approximately 35 - 40” | — | — | — | — | — | — |
| Pre-opening costs | — | New“approximately $17.0 million” | — | — | — | Raised“approximately $18.0 million” | — | — |
| Same-Shack sales growth | — | New“approximately 3%” | — | — | — | — | — | — |
| System-wide unit growth | — | — | — | — | — | New“low-teens %” | — | — |
| No period stated | ||||||||
| Total revenue growth | — | New“low-teens %” | — | — | — | — | — | — |
| Adjusted EBITDA growth | — | New“low to mid-teens %” | — | — | — | — | — | — |
| Restaurant-level profit margin | — | New“18% - 24%” | — | — | — | — | — | — |
| Restaurant-level profit margin | — | New“at least approximately 22%” | — | — | — | — | — | — |
| Average unit volume | — | New“$2.8 million - $4.0 million” | — | — | — | — | — | — |
| Cash-on-cash returns | — | New“at least 30% - 33%” | — | — | — | — | — | — |
| Company-operated footprint target | — | New“at least 1,500 Shacks” | — | — | — | — | — | — |
| Net build costs | — | New“$1.5 million - $3.0 million” | — | — | — | — | — | — |
| System-wide unit growth | — | New“low-teens %” | — | — | — | — | — | — |
| Total addressable market | — | New“1,500+ Company-operated Shacks” | — | — | — | — | — | — |
| Total addressable market of Company-operated Shacks | — | — | — | — | — | New“1,500+” | — | — |
Values in quotation marks are the company’s words. Change labels compare each statement with the same metric and target year in the previous release. HighGravityData does not judge whether guidance was met.