Dave & Buster's Entertainment announced its financial results for the first quarter of fiscal 2025, ended May 6, 2025, reporting a decrease in total revenue and profitability. Total revenue was $567.7 million, a 3.5% decrease from $588.1 million in the first quarter of fiscal 2024. Comparable store sales declined by 8.3% compared to the prior year period.
The company's net income totaled $21.7 million, or $0.62 per diluted share, a decrease from $41.4 million, or $0.99 per diluted share, in Q1 fiscal 2024. Adjusted EBITDA also fell to $136.1 million, or 24.0% of revenue, compared to $159.1 million, or 27.1% of revenue, in the prior year. Interim CEO Kevin Sheehan stated that operating results significantly improved over the course of the quarter and the "back to basics" strategy is working.
Dave & Buster's generated $95.8 million in operating cash during the quarter and ended with $423.2 million of available liquidity. The company repurchased 1.0 million shares for $23.9 million in Q1, representing 2.9% of outstanding shares as of the end of fiscal 2024. The company reiterated its fiscal 2025 outlook, including total capital expenditures not exceeding $220 million.
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