Red Robin Gourmet Burgers Inc (NASDAQ: RRGB)

Red Robin Gourmet Burgers, Inc. operates, franchises, and develops casual dining restaurants in North America, known for serving more than 20 high quality burgers with Bottomless Steak Fries® and a variety of sides in a fun family friendly environment. As of December 28 2025, the company operated 475 restaurants located in 39 states and one Canadian province, with 385 company owned locations and 90 franchised locations. The menu features burgers made from fresh ground beef, chicken, turkey, a proprietary vegetarian patty, and an Impossible™ plant based patty, served with a choice of buns and toppings. In addition to burgers, the company offers Donatos® pizza at select locations, wings, salads, other entrees, desserts, handspun milkshakes, and a range of alcoholic and non alcoholic beverages.

The company generates revenue primarily from sales of food and beverages at its company owned restaurants. Franchise revenue consists of royalty payments and advertising fund contributions calculated as a percentage of franchisee sales. Licensing revenue is earned from the Donatos® pizza partnership, where the company receives fees based on sales of those pizzas at participating locations. In fiscal 2025, burgers accounted for 54% of food sales, while other menu items such as Donatos® pizza, wings, salads, entrees, and desserts made up the remainder. The average check per guest was $18.76, representing a 5.3% increase compared to the prior fiscal year. Beverage sales, including specialty drinks, cocktails, wine, and domestic, imported, and craft beers, also contribute to overall revenue.

The company operates through the following segments.

• The Operating Segment encompasses the operation of company owned restaurants, including food preparation, service, and restaurant level management. It also includes franchising activities such as providing support to franchisees, collecting royalties, and ensuring compliance with brand standards. Additionally, the segment manages licensing arrangements like the Donatos® pizza partnership and oversees menu development, pricing, and promotional initiatives. All of these activities are integrated to drive the company’s total revenue and profitability.

Red Robin Gourmet Burgers, Inc. positions itself as a middle market casual dining chain differentiated by its gourmet burger menu, family oriented atmosphere, and strong brand loyalty. The company competes primarily with other national sit down casual dining restaurants that have comparable scale and marketing resources. Key competitive advantages include the ability to customize menu items for dietary needs, a reputation for quality ingredients, and a fun dining experience that appeals to multi generational guests. Additionally, Red Robin leverages its loyalty program, which had approximately 16.4 million members in fiscal 2025, and its digital platforms to drive repeat visits and enhance guest engagement. While the casual dining sector is highly competitive, the company believes its focus on value, taste, and hospitality distinguishes it from rivals.

The company’s customer base consists of families, multi generational diners, and middle income individuals seeking a casual dining experience. Guests visit for various occasions including dine in meals, take out orders, delivery service, and catering for events. Red Robin attracts guests of all ages, from children to adults, and emphasizes a welcoming environment that accommodates diverse group sizes and preferences. The brand’s loyalty program, with approximately 16.4 million members, provides insights into guest behavior and helps tailor promotions to frequent visitors. Although the filing does not list any specific corporate or institutional customers, the restaurant serves individual consumers across its geographic footprint.