Open the filing on EDGARBOB’S DISCOUNT FURNITURE ANNOUNCES SECOND QUARTER 2026 FINANCIAL RESULTS
Net Revenue Increased 8.8%
Comparable Sales Increased 2.3%
Opened 4 New Stores
Reaffirms Full Year 2026 Financial Guidance
MANCHESTER, Conn. - Bob’s Discount Furniture, Inc. (NYSE:BOBS) (“We”, “our”, the “Company”, “Bob’s Discount Furniture” or “Bob’s”) today announced financial results for the second fiscal quarter ended June 28, 2026.
"Our strong second quarter results demonstrate the resilience of Bob’s business model and the effectiveness of our strategy in a demanding retail environment. As consumers remain focused on value, our Everyday Low Price approach continues to resonate, driving market share gains and reinforcing our competitive position,” said Bill Barton, President and Chief Executive Officer. “These results are a testament to the outstanding execution of our teams and the unique culture that sets Bob’s apart. By remaining disciplined in our investments and focused on delivering exceptional value and a differentiated experience to our customers, we are well positioned to capitalize on the significant growth opportunities ahead."
Second Quarter of Fiscal Year 2026
- Net revenue of $619.6 million increased 8.8% from $569.5 million in the second quarter of fiscal year 2025 driven by new stores and comparable sales growth.
- The Company opened 4 new stores and ended the quarter with 218 stores in 27 states.
- Comparable sales growth of 2.3% was driven by higher average order value and conversion, partially offset by lower in-store traffic.
- The Company received approval for $45.1 million in International Emergency Economic Powers Act (“IEEPA”) tariff refunds in the second quarter of fiscal year 2026. Of this amount, the Company recognized $37.9 million of tariff refunds in cost of sales related to inventory previously sold, $5.7 million as a reduction to inventory on hand, and $1.5 million in interest income. At June 28, 2026, we had $41.9 million in IEEPA tariff refund receivables, which was received subsequent to fiscal quarter end.
- Gross profit increased 20.7% to $319.1 million in the second quarter of fiscal year 2026, which is inclusive of $37.9 million in IEEPA tariff refunds discussed above, resulting in gross margin of 51.5%. Excluding the IEEPA tariff refunds, adjusted gross margin* decreased to 45.4% compared to 46.4% in the prior year period due to unusually favorable freight rates in the prior year, partially offset by favorable product mix shift into the “Better” and “Best” product categories relative to historical levels, and higher protection plan and delivery margins.
- Selling, general and administrative expenses (“SG&A”) increased 9.3% to $235.0 million in the second quarter of fiscal year 2026 due to payroll-related expenses for new stores, higher occupancy costs associated with new and existing stores and an increase in marketing spend due to greenfield store expansion. SG&A as a percentage of revenue increased slightly to 37.9% compared to 37.7% in the prior year period due to incremental marketing, and higher payroll and occupancy costs associated with new stores and greenfield market expansion, substantially offset by efficiencies at existing stores.
- Net income of $57.8 million compared to $35.2 million in the second quarter of fiscal year 2025. Adjusted net income* was $27.8 million compared to $32.2 million in the second quarter of fiscal year 2025.
- Diluted net income per share of $0.43 compared to $0.31 in the second quarter of fiscal year 2025. Adjusted diluted net income per share* was $0.20 compared to $0.29 in the second quarter of fiscal year 2025.
- Adjusted EBITDA* of $60.8 million or 9.8% compared to $62.8 million or 11.0% in the second quarter of fiscal year 2025.
*See Non-GAAP Financial Measures and Reconciliation of GAAP to Non-GAAP Financial Measures below for further information. All Non-GAAP Financial Measure exclude IEEPA tariff refunds, and related interest income as applicable.
Balance Sheet and Liquidity
- Total liquidity of $176.6 million, comprised of cash and cash equivalents of $32.0 million and available borrowing capacity of $144.6 million at June 28, 2026. Subsequent to quarter end, we received $41.9 million in IEEPA tariff refunds further strengthening our liquidity.
- Inventories were $345.9 million as of the end of the second quarter of fiscal year 2026, a decrease of 1.3% compared to year end primarily related to $5.7 million in IEEPA tariff refunds recorded as a reduction of inventory in the period.
- Net cash provided by operating activities was $93.1 million in the year-to-date period, an increase of $57.0 million compared to the prior year, primarily driven by the timing of payments on inventory purchases.
- Investments in capital expenditures, net of tenant allowances of $47.3 million in the year-to-date period was primarily associated with our new store program and early development of a new distribution center in Georgia.
Recent Developments
The Company has reaffirmed its top- and bottom-line guidance for full fiscal year 2026 financial operating results, presented in the table below. Within our outlook, net income now reflects the tariff refund received in the second quarter, whereas adjusted EBITDA and adjusted net income do not, and we now expect pre-opening expenses of approximately $26 million compared to our prior expectation of $23-$24 million. Fiscal year 2026 includes 53 weeks. The “53rd week” is expected to deliver $40.0 million in net revenues, $3.5 million in net income and $5.0 million in adjusted EBITDA.
| Fiscal Year 2026 |
|---|
| Net revenues | $2,600 to $2,625 million |
| Comparable sales growth | 1.5% to 2.5% |
| Net income | $152 to $160 million |
| Adjusted EBITDA | $255 to $265 million |
| Adjusted net income | $121 to $129 million |
| Other estimates: | |
| Net capital expenditures | $110 to $115 million |
| Pre-opening expenses | Approximately $26 million |
| Effective tax rate | Approximately 27% |
| New store count | Approximately 20 |
| FD shares outstanding | Approximately 135 million |
Comparable sales growth is a key performance indicator that measures performance during the current reporting period against the performance of the comparable store sales and of the eCommerce sales in the corresponding period of the previous fiscal year. Comparable sales growth excludes net sales from the non-comparable 53rd week.
See Non-GAAP Financial Measures for definitions of Adjusted EBITDA and Adjusted net income.
Net capital expenditures represents capital expenditures net of tenant allowances.
FD shares outstanding reflects expected average fully diluted shares outstanding for fiscal year 2026.
Conference Call
A conference call to discuss fiscal year 2026 second quarter financial results is scheduled for today, August, 6, 2026, at 8:00 a.m. Eastern Time. Investors and analysts interested in participating in the call are invited to dial 1-877-407-0779 (international callers dial 1-201-389-0914) approximately 10 minutes prior to the start of the call. The conference call will be webcast and once available, a recorded replay can be accessed online at ir.mybobs.com for six months.
About Bob’s Discount Furniture
Bob’s Discount Furniture is a high-growth, national omnichannel retailer of value home furnishings with 218 showrooms as of June 28, 2026 across 27 U.S. states. Since our founding in 1991, we have built our ethos as a trusted and reliable brand offering superior value and service, without compromising on quality or style. Our business model is anchored in delivering furniture at “Everyday Low Prices,” and at the heart of Bob’s success is not just the value of our furniture, but the team members who bring our promise to life every day. From showroom to living room, it’s our people who make Bob’s feel like home. Our belief that everyone deserves a home they love is reflected in how we operate daily and the appreciation we have for our people and communities. From our in-store guest experience specialists who create a no-pressure, no-gimmicks shopping experience, to our distribution and logistics teams who enable fast, reliable fulfillment, Bob’s is built on the dedication of over 6,100 team members nationwide. For more information, please visit www.mybobs.com.
Non-GAAP Financial Measures
In addition to the results provided in accordance with U.S. GAAP, this earnings release and related tables include adjusted gross profit, adjusted gross margin adjusted net income, adjusted EBITDA, and adjusted diluted net income per share, which present operating results on an adjusted basis. We define adjusted gross profit as gross profit adjusted to eliminate the impact of certain items that we do not consider indicative of our core operating performance and adjusted gross margin as adjusted gross profit as a percentage of net sales. We define adjusted net income as net income adjusted to eliminate the impact of certain items that we do not consider indicative of our core operating performance and the tax effect related to those items. We define adjusted diluted net income per share as adjusted net income divided by weighted average shares outstanding. We define adjusted EBITDA as net income before interest expense, interest income, income tax expense/(benefit), and depreciation and amortization, adjusted for items that are not indicative of the operating performance of the business. We believe that excluding certain items from our GAAP results allows management to better understand our financial performance from period to period. Moreover, we believe these non-GAAP financial measures provide our stakeholders with useful information to help them evaluate our operating results by facilitating an enhanced understanding of our operating performance and enabling them to make more meaningful period-to-period comparisons. We use these non-GAAP measures to evaluate the effectiveness of our business strategies, to make budgeting decisions, to evaluate our performance in connection with compensation decisions and to compare our performance against that of peer companies using similar measures. However, our inclusion of these adjusted measures should not be construed as an indication that our future results will be unaffected by unusual or infrequent items or that the items for which we have made adjustments are unusual or infrequent or will not recur. These non-U.S. GAAP measures are not a substitute for, or superior to, measures of financial performance prepared in accordance with U.S. GAAP. Because not all companies use identical calculations, the presentations of these measures may not be comparable to other similarly titled measures of other companies and can differ significantly from company to company. These measures should only be read together with the corresponding U.S. GAAP measures. Please refer to the reconciliations of adjusted gross profit to gross profit, adjusted net income and adjusted EBITDA to net income and adjusted diluted net income per share to diluted net income per share, the most directly comparable financial measures prepared in accordance with U.S. GAAP, below.
Forward-Looking Statements
Certain statements contained herein, including statements under the headings “Recent Developments”, are not based on historical fact and are “forward-looking statements” within the meaning of applicable securities laws.
Forward-looking statements can generally be identified by words such as “anticipate,” “believe,” “envision,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “contemplate” and other similar expressions, although not all forward-looking statements contain these identifying words. Forward-looking statements include, but are not limited to, statements concerning: our expected financial operating results for fiscal year 2026; plans to open new stores, expand into new regions and increase market share; and plans to increase brand awareness and increase comparable sales.
The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements are subject to a number of risks, uncertainties, factors and assumptions described in “Risk Factors” in our Annual Report on Form 10-K, including those relating to, among other things:
- our reliance on foreign manufacturing, suppliers and imports for our products;
- the significant competition within our industry;
- our ability to successfully anticipate or respond to changes in consumer preferences;
- global economic conditions and the effect of economic pressures and other business factors on discretionary consumer spending;
- the impact of current and future tariffs on our business;
- managing the challenges associated with our planned new store growth;
- failures by our third-party suppliers or the unavailability of suitable suppliers at reasonable prices;
- failures of our vendors to meet our quality standards or applicable regulatory frameworks;
- disruption in our distribution capabilities or supply chain;
- our ability to protect our intellectual property rights;
- compliance with applicable governmental regulations;
- our ability to protect the privacy and security of information related to our customers, us, our employees or others;
- disruption in our information systems; and
- our ability to effectively manage our eCommerce platform and digital marketing efforts.
The Company assumes no obligation to update any forward-looking statement, except as may be required by law. These forward-looking statements speak only as of the date of this release. All forward-looking statements are qualified in their entirety by this cautionary statement.
Bob’s Discount Furniture, Inc.
Condensed Consolidated Balance Sheets
(Unaudited, amounts in thousands, except share and per share amounts)
| June 28, 2026 | December 28, 2025 |
|---|
| Assets | | |
| Current assets | | |
| Cash and cash equivalents | $32,022 | $53,202 |
| Restricted cash | 10,175 | 9,412 |
| Accounts receivable | 27,065 | 17,590 |
| Inventories | 345,853 | 350,284 |
| Tariff refunds receivable | 41,908 | - |
| Prepaids and other current assets | 47,974 | 40,871 |
| Total current assets | 504,997 | 471,359 |
| Property and equipment, net | 386,867 | 328,827 |
| Operating lease right-of-use assets | 661,362 | 641,529 |
| Intangible assets | 179,100 | 179,100 |
| Goodwill | 181,699 | 181,699 |
| Deferred offering costs | - | 3,981 |
| Other assets | 9,592 | 5,260 |
| Total assets | $1,923,617 | $1,811,755 |
| Liabilities and Stockholders' Equity | | |
| Current liabilities | | |
| Accounts payable | $279,131 | $260,610 |
| Self-insurance reserves | 30,061 | 27,959 |
| Accrued expenses | 52,947 | 66,211 |
| Customer deposits | 80,387 | 70,740 |
| Current portion of Term Loan | - | 1,750 |
| Finance lease liabilities, current portion | 14,158 | 15,201 |
| Operating lease liabilities, current portion | 106,446 | 100,563 |
| Total current liabilities | 563,130 | 543,034 |
| Term Loan | - | 337,430 |
| Finance lease liabilities, noncurrent portion | 72,043 | 44,254 |
| Operating lease liabilities, noncurrent portion | 701,052 | 678,800 |
| Deferred income taxes | 46,774 | 43,306 |
| Other long-term liabilities | 9,446 | 1,011 |
| Total long-term liabilities | 829,315 | 1,104,801 |
| Total liabilities | 1,392,445 | 1,647,835 |
| Commitments and Contingencies | | |
| Stockholders' Equity | | |
| Preferred stock, $0.01 par value, 5,000,000 shares authorized, no shares issued or outstanding at June 28, 2026; $0.01 par value, 50,000 shares authorized, no shares issued or outstanding at December 28, 2025 | - | - |
| Common stock, $0.0001 par value, 445,000,000 shares authorized, 130,685,807 shares issued and outstanding at June 28, 2026; $0.0001 par value, 300,000,000 shares authorized, 119,777,765 shares issued and 110,530,029 outstanding at December 28, 2025 | 13 | 11 |
| Additional paid-in capital | 439,441 | 199,796 |
| Treasury stock shares, at cost, - and 9,247,736 shares at June 28, 2026 and December 28, 2025, respectively | - | (67,336) |
| Retained earnings | 91,718 | 31,449 |
| Total stockholders' equity | 531,172 | 163,920 |
| Total liabilities and stockholders' equity | $1,923,617 | $1,811,755 |
Consolidated Statements of Operations and Comprehensive Income
(Unaudited, amounts in thousands, except per share amounts)
| Three-Month Fiscal Period Ended | | |
|---|
| June 28, 2026 | June 29, 2025 | Increase (Decrease) |
|---|
| Amount | % of Net Revenues | Amount | % of Net Revenues | Amount | % |
|---|
| Net revenues | $619,570 | 100.0% | $569,529 | 100.0% | $50,041 | 8.8% | |
| Cost of sales | 300,509 | 48.5% | 305,188 | 53.6% | (4,679) | (1.5)% | |
| Gross profit | 319,061 | 51.5% | 264,341 | 46.4% | 54,720 | 20.7% | |
| Selling, general, and administrative | 234,993 | 37.9% | 214,961 | 37.7% | 20,032 | 9.3% | |
| Pre-opening expenses | 5,533 | 0.9% | 5,384 | 1.0% | 149 | 2.8% | |
| Net loss (gain) on disposal of fixed assets | 44 | - % | (157) | - % | 201 | | NM |
| Insurance recoveries | - | - % | (4,497) | (0.8)% | (4,497) | (100.0)% | |
| Total operating expenses | 240,570 | 38.8% | 215,691 | 37.9% | 24,879 | 11.5% | |
| Operating income | 78,491 | 12.7% | 48,650 | 8.5% | 29,841 | 61.3% | |
| Interest expense | 1,888 | 0.3% | 1,221 | 0.2% | 667 | 54.6% | |
| Interest income | (1,616) | (0.2)% | (263) | (0.1)% | 1,353 | | NM |
| Other income, net | (1,331) | (0.2)% | (49) | - % | 1,282 | | NM |
| Total other (income) expense, net | (1,059) | (0.1)% | 909 | 0.1% | (1,968) | | NM |
| Income before taxes | 79,550 | 12.8% | 47,741 | 8.4% | 31,809 | 66.6% | |
| Income tax expense | 21,753 | 3.5% | 12,531 | 2.2% | 9,222 | 73.6% | |
| Net income and comprehensive income | $57,797 | 9.3% | $35,210 | 6.2% | 22,587 | 64.1% | |
| Basic net income per share | $0.44 | | $0.32 | | | |
| Diluted net income per share | $0.43 | | $0.31 | | | |
NM refers to a value that is not meaningful.
Consolidated Statements of Operations and Comprehensive Income
(Unaudited, amounts in thousands, except per share amounts)
| Six-Month Fiscal Period Ended | | |
|---|
| June 28, 2026 | June 29, 2025 | Increase (Decrease) |
|---|
| Amount | % of Net Revenues | Amount | % of Net Revenues | Amount | % |
|---|
| Net revenues | $1,197,666 | 100.0% | $1,102,293 | 100.0% | $95,373 | 8.7% | |
| Cost of sales | 622,095 | 51.9% | 601,309 | 54.6% | 20,786 | 3.5% | |
| Gross profit | 575,571 | 48.1% | 500,984 | 45.4% | 74,587 | 14.9% | |
| Selling, general, and administrative | 470,140 | 39.3% | 430,606 | 39.1% | 39,534 | 9.2% | |
| Pre-opening expenses | 10,273 | 0.9% | 8,369 | 0.7% | 1,904 | 22.8% | |
| Net loss (gain) on disposal of fixed assets | 44 | - % | (136) | - % | 180 | | NM |
| Restructuring charges | - | - % | 292 | - % | (292) | (100.0)% | |
| Insurance recoveries | (667) | (0.1)% | (4,497) | (0.4)% | (3,830) | (85.2)% | |
| Total operating expenses | 479,790 | 40.1% | 434,634 | 39.4% | 45,156 | 10.4% | |
| Operating income | 95,781 | 8.0% | 66,350 | 6.0% | 29,431 | 44.4% | |
| Interest expense | 17,192 | 1.4% | 2,124 | 0.2% | 15,068 | | NM |
| Interest income | (1,813) | (0.1)% | (663) | (0.1)% | 1,150 | | NM |
| Other income, net | (1,331) | (0.1)% | (623) | - % | 708 | | NM |
| Total other (income) expense, net | 14,048 | 1.2% | 838 | 0.1% | 13,210 | | NM |
| Income before taxes | 81,733 | 6.8% | 65,512 | 5.9% | 16,221 | 24.8% | |
| Income tax expense | 21,419 | 1.8% | 17,157 | 1.5% | 4,262 | 24.8% | |
| Net income and comprehensive income | $60,314 | 5.0% | $48,355 | 4.4% | 11,959 | 24.7% | |
| Basic net income per share | $0.48 | | $0.44 | | | |
| Diluted net income per share | $0.46 | | $0.43 | | | |
NM refers to a value that is not meaningful.
Consolidated Statements of Cash Flows
(Unaudited, amounts in thousands)
| Six-Month Fiscal Period Ended |
|---|
| June 28, 2026 | June 29, 2025 |
|---|
| Cash flows from operating activities | | |
| Net income | $60,314 | $48,355 |
| Adjustments to reconcile net income to net cash provided by operating activities | | |
| Stock-based compensation expense | 1,554 | 1,822 |
| Transaction losses | 1,321 | 1,443 |
| Depreciation and amortization | 38,297 | 34,065 |
| Non-cash interest expense | 10,880 | 44 |
| Loss (gain) on disposal of fixed assets | 44 | (136) |
| Non-cash lease costs | 36,358 | 37,111 |
| Deferred income taxes | 3,469 | (823) |
| Change in reserve for product warranties | (200) | 650 |
| Changes in operating assets and liabilities | | |
| Accounts receivable | (10,796) | (2,227) |
| Inventories | 4,431 | (14,803) |
| Tariff refunds receivable | (41,908) | - |
| Prepaids and other current assets | (7,103) | (3,313) |
| Other assets | (4,392) | 27 |
| Accounts payable | 21,814 | (41,820) |
| Accrued expenses | (10,893) | (7,225) |
| Customer deposits | 9,647 | 7,280 |
| Operating leases | (28,056) | (24,285) |
| Other long-term liabilities | 8,365 | - |
| Net cash provided by operating activities | 93,146 | 36,165 |
| Cash flows from investing activities | | |
| Purchase of property and equipment | (59,904) | (37,979) |
| Net cash used in investing activities | (59,904) | (37,979) |
| Cash flows from financing activities | | |
| Principal payments on Term Loan | (350,000) | - |
| Proceeds from Line of Credit | 122,000 | 3,000 |
| Principal payments on Line of Credit | (122,000) | (3,000) |
| Principal payments on financing lease obligations | (10,551) | (5,487) |
| Net proceeds related to exercise of employee stock options | 1,304 | 1,419 |
| Payments for the acquisition of treasury stock | (50) | (709) |
| Proceeds from issuance of common stock, net of underwriter discounts | 310,915 | - |
| Payments for fractional shares | (45) | - |
| Payments of initial public offering costs | (5,232) | - |
| Net cash used in financing activities | (53,659) | (4,777) |
| Net decrease in cash, cash equivalents, and restricted cash | (20,417) | (6,591) |
| Cash, cash equivalents, and restricted cash beginning of period | 62,614 | 80,558 |
| Cash, cash equivalents, and restricted cash end of period | $42,197 | $73,967 |
| Supplemental disclosure of cash flow data | | |
| Cash paid for interest | $4,741 | $1,155 |
| Supplemental disclosure of noncash investing and financing activities | | |
| Assets acquired under financing leases | $37,133 | $22,441 |
| Purchase of property and equipment included in accounts payable | 18,404 | 8,966 |
| Employees cashless exercising of stock options | 19 | 1,964 |
Reconciliation of GAAP to Non-GAAP Measures
(Unaudited, amounts in thousands, except per share amounts)
| Three-Month Fiscal Period Ended | Six-Month Fiscal Period Ended |
|---|
| June 28, 2026 | June 29, 2025 | June 28, 2026 | June 29, 2025 |
|---|
| Net revenues | $619,570 | $569,529 | $1,197,666 | $1,102,293 |
| Adjusted gross profit and margin | | | | |
| Gross profit | $319,061 | $264,341 | $575,571 | $500,984 |
| Gross margin | 51.5% | 46.4% | 48.1% | 45.4% |
| IEEPA tariff refunds in cost of sales | (37,863) | - | (37,863) | - |
| Adjusted gross profit | $281,198 | $264,341 | $537,708 | $500,984 |
| Adjusted gross margin | 45.4% | 46.4% | 44.9% | 45.4% |
Represents the IEEPA tariff refunds recognized in the three and six-month fiscal periods ended June 28, 2026.
| Three-Month Fiscal Period Ended | Six-Month Fiscal Period Ended |
|---|
| June 28, 2026 | June 29, 2025 | June 28, 2026 | June 29, 2025 |
|---|
| Net revenues | $619,570 | $569,529 | $1,197,666 | $1,102,293 |
| Adjusted net income | | | | |
| Net income | $57,797 | $35,210 | $60,314 | $48,355 |
| Restructuring charges | - | - | - | 292 |
| Insurance recoveries | - | (4,497) | (667) | (4,497) |
| Net loss (gain) on disposal of fixed assets | 44 | (157) | 44 | (136) |
| IEEPA tariff refunds and related interest income | (39,373) | - | (39,373) | - |
| Debt issuance costs acceleration | - | - | 10,720 | - |
| Management fee | - | 500 | 2,000 | 1,016 |
| Contract termination benefit | (732) | - | (1,923) | - |
| Other (income) expenses, net | (1,031) | 51 | (199) | 554 |
| Tax effect of adjustments | 11,094 | 1,100 | 7,937 | 702 |
| Adjusted net income | $27,799 | $32,207 | $38,853 | $46,286 |
| Adjusted net income as % of net revenue | 4.5% | 5.7% | 3.2% | 4.2% |
| Adjusted EBITDA | | | | |
| Net income | $57,797 | $35,210 | $60,314 | $48,355 |
| Interest expense | 1,888 | 1,221 | 17,192 | 2,124 |
| Interest income | (1,616) | (263) | (1,813) | (663) |
| Income tax expense | 21,753 | 12,531 | 21,419 | 17,157 |
| Depreciation and amortization | 19,682 | 17,307 | 38,297 | 34,065 |
| Stock-based compensation expense | 839 | 931 | 1,554 | 1,822 |
| Restructuring charges | - | - | - | 292 |
| Insurance recoveries | - | (4,497) | (667) | (4,497) |
| Net loss (gain) on disposal of fixed assets | 44 | (157) | 44 | (136) |
| IEEPA tariff refunds | (37,863) | - | (37,863) | - |
| Management fee | - | 500 | 2,000 | 1,016 |
| Contract termination benefit | (732) | - | (1,923) | - |
| Other (income) expenses, net | (1,031) | 51 | (199) | 554 |
| Adjusted EBITDA | $60,761 | $62,834 | $98,355 | $100,089 |
| Adjusted EBITDA as % of revenue | 9.8% | 11.0% | 8.2% | 9.1% |
Represents the IEEPA tariff refunds and $1.5 million in related interest income recognized in the three and six-month fiscal periods ended June 28, 2026.
Reconciliation of GAAP to Non-GAAP Measures
(Unaudited, amounts in thousands, except per share amounts)
Represents the acceleration of debt issuance costs in connection with the repayment of the Term Loan in the six-month fiscal period ended June 28, 2026.
Represents management fees paid in accordance with our Advisory Agreement with our controlling stockholder, which terminated in connection with our initial public offering (“IPO”). Activity for the six-month fiscal period ended June 28, 2026 reflects a termination fee of $2.0 million associated with the Advisory Agreement.
Represents the acceleration of a bonus from our financing partner due to the termination of the agreement.
Other (income) expenses. net represents income and costs that are not indicative of ongoing business operations and performance, including, but not limited to, third-party professional fees related to our IPO, litigation matters outside the ordinary course of business, bankruptcy settlements and senior termination benefits.
Represents the IEEPA tariff refunds excluding interest income recognized in the three and six-month fiscal periods ended June 28, 2026.
| Three-Month Fiscal Period Ended | Six-Month Fiscal Period Ended |
|---|
| June 28, 2026 | June 29, 2025 | June 28, 2026 | June 29, 2025 |
|---|
| Adjusted diluted net income per share | | | | |
| Diluted net income per share | $0.43 | $0.31 | $0.46 | $0.43 |
| Restructuring charges | - | - | - | - |
| Insurance recoveries | - | (0.04) | (0.01) | (0.04) |
| Net loss (gain) on disposal of fixed assets | - | - | - | - |
| IEEPA tariff refunds and related interest income | (0.29) | - | (0.30) | - |
| Debt issuance costs acceleration | - | - | 0.08 | - |
| Management fee | - | 0.01 | 0.02 | 0.01 |
| Contract termination benefit | (0.01) | - | (0.02) | - |
| Other (income) expenses, net | (0.01) | - | - | - |
| Tax effect of adjustments | 0.08 | 0.01 | 0.06 | 0.01 |
| Adjusted diluted net income per share | $0.20 | $0.29 | $0.29 | $0.41 |
| Diluted weighted average shares outstanding | 135,640,953 | 112,763,460 | 131,874,659 | 112,684,120 |
Represents the IEEPA tariff refunds and related interest income recognized in the three and six-month fiscal periods ended June 28, 2026.
Represents the acceleration of debt issuance costs in connection with the pay down of the Term Loan in the six-month fiscal period ended June 28, 2026.
Represents management fees paid in accordance with our Advisory Agreement with our controlling stockholder, which terminated in connection with the consummation of our proposed IPO. See "Certain Relationships and Related Party Transactions - Advisory Agreement." Activity for the six-month fiscal period ended June 28, 2026 reflects the per share impact of a termination fee of $2.0 million associated with the Advisory Agreement.
Represents the acceleration of a bonus from our financing partner due to the termination of the agreement.
Other (income) expenses, net represents income and costs that are not indicative of ongoing business operations and performance, including, but not limited to, third-party professional fees related our initial public offering, litigation matters outside the normal course of business, bankruptcy settlements, and senior termination benefits.
Contacts
Edward Plank, Vice President, Investor Relations & Strategy
IR@mybobs.com
BobsPR@icrinc.com