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CLOSED · 12:30 ET
Market ClerkRecap
Sun Nov 1 · markets closed1 signal on Oct 31129 insider buys this week · $10BCIRO short report next: Nov 15The week ahead

GTIM

Good Times Restaurants Inc.
NASDAQ · CONSUMER DISCRETIONARY · RETAIL-EATING PLACES
1.29
+0.00 +0.00%
USD · close Oct 30

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How GTIM rewrote its risk factors

10-K ITEM 1A · FY2024 → FY2025
Text kept
83%
of sentences unchanged
Added
29
new sentences
Dropped
15
sentences removed
Length
+392
words, now 7,306

New in FY2025

  • Tariffs that are implemented or merely threatened may increase the cost of commodities we purchase for use in our restaurants.
  • The federal government may threaten or implement tariffs on other countries that supply commodities we purchase for use in our restaurants.
  • The tariffs themselves could have the impact of increasing the aggregate purchase cost of the same products or reducing the supply of available products.
  • Additionally, these tariffs may result in retaliation by the affected countries, leading to trade wars with an unpredictable result.
  • We may not be able to offset increased cost through menu price increases, and even if we were to increase menu prices to cover some or all of the increased cost, such action could lead to decreased traffic to our restaurants which would negatively affect our financial results.
  • During fiscal 2025 the ground beef market price indices reached record highs, due to multiple factors, one of which was tariffs imposed on foreign beef-exporting nations.
  • Labor organizing could adversely affect our operations and harm our competitive position in the restaurant industry, which could harm our financial performance.
  • Our employees or others may attempt to unionize the workforce in one or more of our restaurants, which could increase our labor costs, limit our ability to manage our workforce effectively, negatively impact our ability to adequately serve our guests, and disrupt our operations.
  • A loss of our ability to effectively manage our workforce and the compensation and benefits we offer to our employees could negatively affect our financial performance.
  • We have incurred losses in 29 of our 37 years since inception.
  • As of September 30, 2025, we had an accumulated deficit of $16,598,000.
  • Though we recognized net income in fiscal 2025, in light of the uncertainty of macroeconomic conditions, increasing inflation and other factors affecting our supply chain and employee markets, we cannot provide assurance that we will produce income again for the fiscal year ending September 29, 2026.
  • We have increased same store sales for thirteen of the past fifteen years at Good Times.
  • Finally, new competitors in the business of selling sliders which compete with our Bambino product, have begun to penetrate the Colorado market.
  • We believe our current operations and future success depend largely on the continued services of our management employees, particularly Ryan Zink, our President and Chief Executive Officer and Keri August our Senior Vice President of Finance and Accounting.
  • We have not entered into any employment agreement with Ms.
  • In addition to systems where we directly control the security procedures, policies, and standards, confidential customer information is also handled by third-party service providers.
  • Though our agreements with these service providers typically include indemnification provisions and requirements as to the providers’ security practices, no assurance can be given that these third party providers would be able to provide such indemnification in the case of a significant breach, and many of the same risks, including reputational risk, apply to information they handle.
  • In the case of delivery service providers, the end user is a direct customer of the delivery provider, however reputational risk to our Company still exists with respect to those customers who receive food and beverage through us that has been delivered by such service provider.
  • These risks extend beyond services with which we directly contract.
  • Recent outages with cloud infrastructure providers such as Amazon’s AWS, can cascade throughout multiple systems and could inhibit the majority or entirety of our system from accepting orders or otherwise operating.
  • The Bad Daddy’s Burger Bar concept has been in existence for approximately eighteen years and the average age for all Bad Daddy’s restaurants, as of the date of this filing, is approximately nine years.
  • We are subject to changing rules and regulations arising from governmental, quasi-governmental, and other self-regulatory organizations, including state and local governments.
  • In addition, regulators, customers, investors, employees and other stakeholders may focus on environmental, social and governance (“ESG”) matters and related disclosures.
  • These changing rules, regulations and stakeholder expectations could result in, increased general and administrative expenses and increased management time and attention spent complying with or meeting such regulations and expectations.
  • Changes in enforcement practices related to existing immigration laws and/or modified or newly adopted immigration legislation may affect labor markets related to our suppliers or the QSR business segment The increasingly dynamic nature of the federal government may affect the likelihood for Congress to amend existing immigration laws or adopt new immigration laws.
  • Further, recent policy decisions from the current federal government administration related to more strict enforcement of, and rulemaking related to, immigration laws has significantly altered the current environment.
  • Those policies include a lesser degree of tolerance of undocumented workers employed in various segments of the workforce.
  • Any new or modified immigration laws or a further change in these policy decisions may have an adverse impact on the number of individuals participating in these markets, and may reduce the total number of employees in the population from which we recruit, affecting our ability to conduct our business, and with respect to our suppliers, may have an adverse impact on their ability to produce products that we purchase for ingredients in our recipes.

Gone since FY2024

  • We have incurred losses in 29 of our 36 years since inception.
  • As of September 24, 2024, we had an accumulated deficit of $17,622,000.
  • Though we recognized net income in fiscal 2024, in light of the uncertainty of macroeconomic conditions, increasing inflation and other factors affecting our supply chain and employee markets, we cannot provide assurance that we will produce income again for the fiscal year ending September 30, 2025.
  • We have increased same store sales for thirteen of the past fourteen years at Good Times.
  • We believe our current operations and future success depend largely on the continued services of our management employees, particularly Ryan Zink, our President and Chief Executive Officer, Keri August our Senior Vice President of Finance and Accounting and Don Stack, our Senior Vice President of Operations for Good Times.
  • We have not entered into any employment agreements with Ms.
  • The Bad Daddy’s Burger Bar concept has been in existence for approximately seventeen years and the average age for all Bad Daddy’s restaurants, as of the date of this filing, is approximately eight years.
  • We are subject to changing rules and regulations arising from governmental, quasi-governmental, and other self-regulatory organizations, including state and local governments, the SEC, the Nasdaq Stock Market and the Financial Accounting Standards Board.
  • In addition, increasingly regulators, customers, investors, employees and other stakeholders are focusing on environmental, social and governance (“ESG”) matters and related disclosures.
  • These changing rules, regulations and stakeholder expectations have resulted in, and are likely to continue to result in, increased general and administrative expenses and increased management time and attention spent complying with or meeting such regulations and expectations.
  • Further, these issues are subject to evolving reporting standards, including the SEC’s recently proposed climate-related reporting requirements.
  • Changes in enforcement practices related to existing immigration laws and/or modified or newly adopted immigration legislation may affect labor markets related to our suppliers or the QSR business segment The upcoming Presidential administration change may increase the likelihood for Congress to amend existing immigration laws or adopt new immigration laws.
  • Further, policy decisions related to the enforcement of, and rulemaking related to, immigration laws have been volatile and subject to changes resulting from election cycles.
  • Those policies include the degree of tolerance of undocumented workers employed in various segments of the workforce.
  • Any new or modified immigration laws or a change in these policy decisions may have an adverse impact on the number of individuals participating in these markets, and may reduce the total number of employees in the population from which we recruit, affecting our ability to conduct our business, and with respect to our suppliers, may have an adverse impact on their ability to produce products that we purchase for ingredients in our recipes.

Sentence-level comparison of Item 1A in the two most recent 10-Ks (FY2024 ↗, FY2025 ↗). A reworded sentence counts as one dropped and one added, so heavy edits read as low “kept”. Headings and page furniture are stripped; nothing is summarised by a model.

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