ARK RESTAURANTS CORP

Listed Company

ARKRCIK 0000779544NasdaqNon-AcceleratedSmaller ReportingRetail-Eating PlacesNew YorkFY ends Sep 28

Period

FY 2025

Revenue

$165.75M

Net Income

$-11.47M

Total Assets

$133.50M

Equity

$32.73M

Shares Out

3.61M

Op. Cash Flow

$1.75M

Business

ARK RESTAURANTS CORP operates and manages a portfolio of full-service restaurants, bars, fast food concepts and catering operations through its subsidiaries. It offers extensive dine-in menus, separate bar areas, outdoor seating, banquet and room service, food court outlets, concessions and catering services. Its business is organized around operating owned, leased and managed restaurant properties and select less-than-wholly-owned partnerships, including branded concepts such as Broadway Burger Bar and Original Oyster House. The company serves markets in New York City, Washington, D.C., Las Vegas, Atlantic City, the east coast of Florida and the Gulf Coast of Alabama through on-site dining, hotel/casino locations and food courts.

Summary from filing dated 2025-12-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Revenues	166	184	185	184	132
Payroll expenses	60	66	66	60	43
Other operating costs and expenses	23	24	23	22	16
General and administrative expenses	12	12	12	13	11
Depreciation and amortization	3	4	4	4	4
(Gain) loss on closure of El Rio Grande	−173,000	876,000	0	—	—
Gain on termination of Tampa Food Court lease	−5	0	—	0	−810,000
Impairment losses on right-of-use and long-lived assets	5	3	—	—	—
Goodwill impairment	3	4	10	0	—
Total costs and expenses	170	188	190	174	126
OPERATING LOSS	−4	−4	−5	10	6
Interest expense	414,000	621,000	1	—	—
Interest income	−45,000	−44,000	−333,000	−109,000	−51,000
Other income	0	−26,000	−52,000	−421,000	0
Gain on sale of condominiums	−594,000	0	—	—	—
Gain on forgiveness of PPP Loans	0	−285,000	−272,000	−2	−10
Total other (income) expense, net	−225,000	266,000	—	—	−9
LOSS BEFORE PROVISION (BENEFIT) FOR INCOME TAXES	−4	−5	−5	12	15
Provision (benefit) for income taxes	5	−815,000	−64,000	1	1
CONSOLIDATED NET LOSS	−9	−4	−5	10	14
Net income attributable to non-controlling interests	−2	−151,000	−570,000	−893,000	−1
NET LOSS ATTRIBUTABLE TO ARK RESTAURANTS CORP.	−11	−4	−6	9	13
Basic (in USD per share)	−3.18	−1.08	−1.65	2.61	3.67
Diluted (in USD per share)	−3.18	−1.08	−1.65	2.58	3.58
Basic (in shares)	4	4	4	4	4
Diluted (in shares)	4	4	4	4	4

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and cash equivalents	11	10	13	23	19
Accounts receivable	2	4	3	3	4
Employee receivables	136,000	255,000	328,000	440,000	—
Inventories	2	2	3	4	4
Prepaid and refundable income taxes	349,000	294,000	212,000	2	4
Prepaid expenses and other current assets	2	2	2	2	3
Total current assets	18	18	22	39	34
FIXED ASSETS - Net	29	32	34	35	36
OPERATING LEASE RIGHT-OF-USE ASSETS - Net	73	85	96	102	56
GOODWILL	0	3	7	17	17
TRADEMARKS	4	4	4	4	4
INTANGIBLE ASSETS - Net	13,000	98,000	187,000	272,000	376,000
DEFERRED INCOME TAXES	0	5	4	3	4
INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK	7	7	7	6	6
OTHER ASSETS	2	2	2	3	2
TOTAL ASSETS	134	156	177	210	161
Accounts payable - trade	4	5	4	4	5
Accrued expenses and other current liabilities	11	12	14	16	14
Current portion of operating lease liabilities	6	7	8	8	6
Current portion of notes payable	1	5	2	7	7
Total current liabilities	23	29	28	35	32
OPERATING LEASE LIABILITIES, LESS CURRENT PORTION	76	84	92	97	53
NOTES PAYABLE, LESS CURRENT PORTION, net of deferred financing costs	2	0	5	17	26
DEFERRED INCOME TAXES	360,000	0	—	—	—
TOTAL LIABILITIES	101	112	125	149	110
COMMITMENTS AND CONTINGENCIES	—	—	—	—	—
Common stock, par value $0.01 per share - authorized, 10,000 shares; issued and outstanding, 3,606 shares at September 27, 2025 and 3,604 shares at September 28, 2024, respectively	36,000	36,000	36,000	36,000	36,000
Additional paid-in capital	14	14	14	15	14
Retained earnings	19	30	36	44	36
Total Ark Restaurants Corp. shareholders equity	33	44	50	60	50
NON-CONTROLLING INTERESTS	−612,000	−496,000	1	318,000	1
TOTAL EQUITY	32	44	52	60	51
TOTAL LIABILITIES AND EQUITY	134	156	177	210	161

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Stock-based compensation activity	34,000	−919,000	314,000	298,000	280,000
Deferred income taxes	5	−1	−620,000	582,000	2
Accrued interest on note receivable from NMR	−45,000	−43,000	−42,000	—	—
Amortization of operating lease assets	271,000	440,000	507,000	873,000	2
Amortization of deferred financing costs	54,000	53,000	—	—	—
Accounts receivable	2	−203,000	−128,000	928,000	−2
Inventories	252,000	804,000	614,000	−197,000	−918,000
Prepaid, refundable and accrued income taxes	−55,000	−91,000	2	2	−1
Prepaid expenses and other current assets	−431,000	−29,000	−46,000	2	−736,000
Other assets	5,000	−2,000	363,000	−254,000	−69,000
Accounts payable - trade	−64,000	489,000	−408,000	−420,000	3
Accrued expenses and other current liabilities	−1	−3	−2	3	900,000
Net cash provided by operating activities	2	5	8	20	9
Purchases of fixed assets	−3	−2	−4	−3	−2
Loans and advances made to employees	−14,000	−46,000	−71,000	−229,000	−92,000
Payments received on employee receivables	133,000	119,000	183,000	169,000	97,000
Proceeds from sale of condominiums	1	0	—	—	—
Termination payment received in connection with Tampa Food Court lease	6	0	—	—	—
Investment in NMR	−148,000	0	—	—	—
Net cash provided by (used in) investing activities	3	−2	1	−8	−3
Principal payments on notes payable	−2	−2	−16	−5	−3
Payments of debt financing costs	−105,000	0	—	—	—
Dividends paid	0	−2	−2	−894,000	0
Proceeds from issuance of stock upon exercise of stock options	21,000	0	39,000	703,000	710,000
Distributions to non-controlling interests	−2	−1	−1	−2	−938,000
Net cash used in financing activities	−4	−5	−20	−8	−4
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1	−3	−10	4	2
Interest	364,000	439,000	1	1	1
Income taxes	199,000	170,000	345,000	826,000	8,000
Elimination of non-controlling interest upon dissolution of subsidiary	0	692,000	2	0	—

Filings

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