Red Robin Q4 Loss Narrows to $10.1M as Adjusted EBITDA Rises 53%
Red Robin reported fiscal Q4 revenues of $269 million, narrowed net loss to $10.1 million from $39.7 million, and delivered Adjusted EBITDA of $11.8 million while full-year Adjusted EBITDA rose 53% to $69.7 million. The chain ended December traffic above the casual dining industry and lifted restaurant-level margin to 12.7%.
1. Q4 and Full-Year Financial Results
Red Robin’s fiscal fourth quarter delivered $269.0 million in revenues, down from $285.2 million a year earlier, with net loss improving to $10.1 million from $39.7 million. Adjusted EBITDA for the quarter reached $11.8 million, and full-year Adjusted EBITDA surged 53% to $69.7 million, driven by stronger restaurant-level profits and cost controls.
2. Strategic Plan and Operational Initiatives
The First Choice strategic plan, initiated mid-2025, focused on value pricing, labor efficiency, and empowering managing partners. Micro-targeted marketing and the Big Yummm value platform contributed to a steady traffic recovery and improved price-value perception.
3. Traffic and Profitability Metrics
Comparable restaurant revenue excluding deferred loyalty fell 3.3% in Q4, but December traffic outpaced the broader casual dining industry for the first time since Q3 2024. Restaurant-level operating profit margin held at 11.4% in Q4 and rose to 12.7% for the full year, a 190-basis-point improvement.
4. Balance Sheet and Liquidity
As of December 28, 2025, Red Robin had $170.2 million in borrowings under its credit facility and maintained approximately $56.9 million in liquidity, including cash, cash equivalents, and available borrowing capacity.