Revenue growth remains in a contractionary phase with a 7.9% year-over-year decline in 2026Q2, while gross margins have compressed to 34.3% due to rising operational costs.
| Metric | TTM | Sep'25 | Sep'24 | Sep'23 | Oct'22 | Oct'21 | Oct'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'09 | Sep'08 | Sep'07 | Sep'06 | Sep'05 | Sep'04 | Sep'03 | Sep'02 | Sep'01 | Sep'00 | Sep'99 | Sep'98 | Sep'97 | Sep'96 |
|---|
| Sales/Revenue | 158.37M | 165.75M | 183.54M | 184.79M | 183.67M | 131.87M | 106.49M | 162.35M | 159.99M | 153.88M | 150.58M | 145.86M | 139.36M | 130.6M | 138.03M | 136.9M | 117.77M | 115.01M | 125.39M | 115.68M | 113.55M | 107.06M | 112.27M | 102.73M | 101.63M | 127.01M | 119.21M | 110.8M | 117.4M | 104.3M | 76.8M |
| Revenue Growth % | -11.28% | -9.69% | -0.68% | 0.61% | 39.28% | 23.83% | -34.41% | 1.48% | 3.97% | 2.19% | 3.24% | 4.67% | 6.71% | -5.38% | 0.83% | 16.24% | 2.4% | -8.28% | 8.4% | 1.88% | 6.06% | -4.64% | 9.28% | 1.09% | -19.98% | 6.54% | 7.59% | -5.62% | 12.56% | 35.81% | 5.21% |
| Cost of Goods Sold | 101.28M | 106.77M | 115.36M | 115.95M | 112.57M | 81.53M | 69.56M | 100.11M | 98.66M | 94.67M | 90.26M | 86.34M | 81.52M | 75.28M | 78.56M | 117.69M | 101.38M | 99.28M | 103.46M | 30.27M | 29.38M | 39.49M | 28.98M | 25.39M | 24.86M | 32.55M | 31.02M | 29.3M | 31.3M | 28.4M | 20.9M |
| COGS % of Revenue | - | 64.42% | 62.85% | 62.74% | 61.29% | 61.83% | 65.32% | 61.66% | 61.66% | 61.52% | 59.94% | 59.19% | 58.5% | 57.64% | 56.92% | 85.97% | 86.08% | 86.33% | 82.51% | 26.17% | 25.87% | 36.88% | 25.82% | 24.72% | 24.47% | 25.63% | 26.02% | 26.44% | 26.66% | 27.23% | 27.21% |
| Gross Profit | 57.09M | 58.98M | 68.18M | 68.85M | 71.1M | 50.34M | 36.93M | 62.24M | 61.33M | 59.21M | 60.32M | 59.52M | 57.84M | 55.32M | 59.47M | 19.2M | 16.39M | 15.72M | 21.93M | 85.41M | 84.17M | 67.57M | 83.29M | 77.34M | 76.76M | 94.46M | 88.2M | 81.5M | 86.1M | 75.9M | 55.9M |
| Gross Margin % | 36.05% | 35.58% | 37.15% | 37.26% | 38.71% | 38.17% | 34.68% | 38.34% | 38.34% | 38.48% | 40.06% | 40.81% | 41.5% | 42.36% | 43.08% | 14.03% | 13.92% | 13.67% | 17.49% | 73.83% | 74.13% | 63.12% | 74.18% | 75.28% | 75.53% | 74.37% | 73.98% | 73.56% | 73.34% | 72.77% | 72.79% |
| Gross Profit Growth % | - | -13.5% | -0.97% | -3.17% | 41.24% | 36.31% | -40.67% | 1.48% | 3.59% | -1.85% | 1.33% | 2.92% | 4.56% | -6.97% | 209.65% | 17.18% | 4.22% | -28.29% | -74.32% | 1.47% | 24.57% | -18.87% | 7.69% | 0.75% | -18.73% | 7.1% | 8.22% | -5.34% | 13.44% | 35.78% | 5.27% |
| Operating Expenses | 58.27M | 60.31M | 65.1M | 63.69M | 61.24M | 44.13M | 44.73M | 59M | 56.3M | 52.2M | 52.49M | 50.58M | 50.21M | 48.71M | 49.47M | 13.45M | 13.39M | 12.45M | 12.14M | 74.69M | 76.45M | 58.48M | 73.84M | 71.59M | 70.29M | 102.7M | 87.73M | 75.6M | 79.8M | 74.2M | 56.6M |
| OpEx % of Revenue | - | 36.39% | 35.47% | 34.46% | 33.34% | 33.47% | 42% | 36.34% | 35.19% | 33.92% | 34.86% | 34.68% | 36.03% | 37.3% | 35.84% | 9.82% | 11.37% | 10.83% | 9.68% | 64.57% | 67.33% | 54.62% | 65.77% | 69.68% | 69.17% | 80.86% | 73.59% | 68.23% | 67.97% | 71.14% | 73.7% |
| Selling, General & Admin | 33.77M | 34.53M | 36.88M | 35.88M | 35.12M | 25.27M | 25.55M | 29.42M | 29.79M | 28.6M | 28.22M | 27.68M | 27.79M | 27.32M | 27.07M | 9.48M | 9.52M | 8.83M | 9.05M | 74.18M | 75.56M | 56.17M | 70.79M | 67.68M | 65.63M | 86.91M | 82.84M | 71.5M | 75.8M | 70.8M | 53.9M |
| SG&A % of Revenue | - | 20.83% | 20.1% | 19.42% | 19.12% | 19.16% | 23.99% | 18.12% | 18.62% | 18.59% | 18.74% | 18.97% | 19.94% | 20.92% | 19.61% | 6.92% | 8.08% | 7.68% | 7.22% | 64.13% | 66.54% | 52.47% | 63.05% | 65.88% | 64.58% | 68.43% | 69.49% | 64.53% | 64.57% | 67.88% | 70.18% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 4M | 25.78M | 28.21M | 27.81M | 26.12M | 18.86M | 19.18M | 29.57M | 26.51M | 23.59M | 24.27M | 22.91M | 22.42M | 21.39M | 22.4M | 3.97M | 3.87M | 3.62M | 3.09M | 512K | 898K | 2.31M | 3.05M | 3.91M | 4.66M | 15.79M | 4.89M | 4.1M | 4M | 3.4M | 2.7M |
| Operating Income | -1.18M | -1.33M | 3.08M | 5.16M | 9.86M | 6.21M | -7.8M | 3.25M | 5.03M | 7.01M | 7.82M | 8.94M | 7.63M | 6.61M | 9.99M | 5.76M | 3M | 3.27M | 9.79M | 10.71M | 7.72M | 9.09M | 9.45M | 5.75M | 6.47M | -8.24M | 471.14K | 5.9M | 6.3M | 1.7M | -700K |
| Operating Margin % | -0.74% | -0.8% | 1.68% | 2.79% | 5.37% | 4.71% | -7.32% | 2% | 3.15% | 4.55% | 5.2% | 6.13% | 5.47% | 5.06% | 7.24% | 4.21% | 2.55% | 2.84% | 7.81% | 9.26% | 6.8% | 8.49% | 8.41% | 5.6% | 6.37% | -6.49% | 0.4% | 5.32% | 5.37% | 1.63% | -0.91% |
| Operating Income Growth % | - | -143.22% | -40.27% | -47.69% | 58.92% | 179.62% | -340.17% | -35.49% | -28.2% | -10.43% | -12.49% | 17.21% | 15.47% | -33.88% | 73.48% | 92.03% | -8.34% | -66.57% | -8.64% | 38.83% | -15.15% | -3.74% | 64.21% | -11.11% | 178.56% | -1848.51% | -92.01% | -6.35% | 270.59% | 342.86% | - |
| EBITDA | 1.78M | 2.08M | 7.61M | 9.98M | 15.03M | 11.64M | -3.16M | 8.48M | 10.11M | 11.14M | 12.38M | 13.36M | 12.25M | 10.91M | 14.1M | 10.25M | 6.87M | 6.89M | 12.88M | 13.43M | 11.49M | 12.79M | 13.04M | 9.66M | 11.13M | -2.3M | 5.36M | 10M | 10.3M | 5.1M | 2M |
| EBITDA Margin % | 1.12% | 1.25% | 4.15% | 5.4% | 8.19% | 8.83% | -2.96% | 5.22% | 6.32% | 7.24% | 8.22% | 9.16% | 8.79% | 8.35% | 10.22% | 7.49% | 5.84% | 5.99% | 10.27% | 11.61% | 10.12% | 11.95% | 11.61% | 9.41% | 10.95% | -1.81% | 4.49% | 9.03% | 8.77% | 4.89% | 2.6% |
| EBITDA Growth % | 213.66% | -72.71% | -23.7% | -33.64% | 29.1% | 468.98% | -137.22% | -16.1% | -9.28% | -9.99% | -7.33% | 9.06% | 12.27% | -22.64% | 37.57% | 49.16% | -0.28% | -46.49% | -4.13% | 16.87% | -10.12% | -1.92% | 34.93% | -13.19% | 583.96% | -142.94% | -46.44% | -2.91% | 101.96% | 155% | -16.67% |
| D&A (Non-Cash Add-back) | 2.96M | 3.41M | 4.53M | 4.82M | 5.17M | 5.44M | 4.64M | 5.23M | 5.07M | 4.13M | 4.55M | 4.42M | 4.62M | 4.3M | 4.11M | 4.49M | 3.87M | 3.62M | 3.09M | 2.72M | 3.78M | 3.69M | 3.59M | 3.91M | 4.66M | 5.94M | 4.89M | 4.1M | 4M | 3.4M | 2.7M |
| EBIT | -4.93M | -3.42M | -3.94M | -4.18M | 12.81M | 16.66M | -7.58M | 3.31M | 5.09M | 7.18M | 8M | 9.23M | 8.16M | 7.11M | 10.48M | 6.26M | 3.47M | 4.13M | 10.99M | 10.71M | 7.72M | 9.09M | 9.45M | 5.75M | 6.47M | -8.24M | 471.14K | 5.9M | 6.3M | 1.7M | -700K |
| Net Interest Income | -264K | -369K | -577K | -906K | -1.08M | -1.18M | -1.29M | -1.38M | -1.11M | -583K | -236K | -191K | -156K | -62K | 10K | 3K | 53K | 252K | 433K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 45K | 45K | 44K | 333K | 109K | 51K | 126K | 61K | 57K | 170K | 180K | 47K | 45K | 0 | 33K | 72K | 82K | 295K | 490K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 309K | 414K | 621K | 1.24M | 1.19M | 1.23M | 1.42M | 1.44M | 1.16M | 753K | 416K | 238K | 201K | 62K | 23K | 14K | 29K | 43K | 57K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -4.07M | -2.51M | -7.64M | -10.58M | 1.76M | 9.22M | -1.21M | -1.38M | -1.11M | -583K | -236K | 47K | 332K | 446K | 464K | 489K | 439K | 811K | 1.15M | 1.15M | 795K | 756K | 542K | 403K | -607K | -1.95M | -5.91M | 1.2M | 1.4M | 1.1M | 2M |
| Pretax Income | -5.25M | -3.84M | -4.56M | -5.42M | 11.62M | 15.43M | -9M | 1.87M | 3.93M | 6.42M | 7.59M | 8.99M | 7.96M | 7.05M | 10.46M | 6.25M | 3.44M | 4.08M | 10.94M | 11.86M | 8.51M | 9.85M | 9.99M | 6.16M | 5.87M | -10.19M | -5.44M | 7.1M | 7.7M | 2.8M | 1.3M |
| Pretax Margin % | -3.31% | -2.32% | -2.48% | -2.93% | 6.33% | 11.7% | -8.45% | 1.15% | 2.45% | 4.18% | 5.04% | 6.16% | 5.71% | 5.4% | 7.57% | 4.56% | 2.92% | 3.55% | 8.72% | 10.25% | 7.5% | 9.2% | 8.9% | 5.99% | 5.77% | -8.02% | -4.56% | 6.41% | 6.56% | 2.68% | 1.69% |
| Income Tax | 438K | 5.32M | -815K | -64K | 1.45M | 1.18M | -4.38M | -591K | -1.15M | 1.67M | 2.1M | 2.6M | 1.77M | 1.94M | 3.01M | 1.47M | 1.12M | 1.24M | 3.68M | 3.67M | 2.82M | 3.05M | 2.76M | 1.49M | 1.47M | -3.34M | -1.91M | 2.6M | 3.1M | 1.1M | 500K |
| Effective Tax Rate % | -8.35% | -138.68% | 17.87% | 1.18% | 12.46% | 7.65% | 48.71% | -31.6% | -29.22% | 25.96% | 27.65% | 28.88% | 22.3% | 27.52% | 28.82% | 23.58% | 32.61% | 30.37% | 33.61% | 30.93% | 33.18% | 30.92% | 27.6% | 24.14% | 25.13% | 32.8% | 35.04% | 36.62% | 40.26% | 39.29% | 38.46% |
| Net Income | -6.28M | -11.47M | -3.9M | -5.93M | 9.28M | 12.89M | -4.69M | 2.68M | 4.66M | 4.04M | 4.03M | 5.39M | 4.92M | 3.83M | 5.49M | 1.42M | 2.6M | 3.06M | 6.98M | 13.01M | 5.22M | 6.58M | 6.66M | 3.32M | 4.23M | -6.85M | -3.72M | 4.5M | 4.6M | 1.7M | 800K |
| Net Margin % | -3.97% | -6.92% | -2.12% | -3.21% | 5.05% | 9.78% | -4.4% | 1.65% | 2.91% | 2.62% | 2.68% | 3.7% | 3.53% | 2.93% | 3.98% | 1.03% | 2.21% | 2.66% | 5.56% | 11.25% | 4.6% | 6.15% | 5.93% | 3.23% | 4.16% | -5.39% | -3.12% | 4.06% | 3.92% | 1.63% | 1.04% |
| Net Income Growth % | 36.6% | -194.3% | 34.28% | -163.87% | -28.03% | 375.06% | -275.19% | -42.51% | 15.25% | 0.22% | -25.23% | 9.66% | 28.5% | -30.32% | 287.92% | -45.68% | -14.84% | -56.16% | -46.38% | 149.29% | -20.66% | -1.17% | 100.57% | -21.52% | 161.76% | -83.93% | -182.74% | -2.17% | 170.59% | 112.5% | -27.27% |
| Net Income (Continuing) | -5.68M | -9.16M | -3.75M | -5.36M | 10.17M | 14.25M | -4.62M | 2.46M | 5.07M | 4.76M | 5.49M | 6.39M | 6.18M | 5.11M | 7.44M | 4.78M | 2.32M | 2.84M | 7.26M | 7.96M | 5.69M | 6.8M | 7.23M | 4.67M | 4.39M | -6.85M | -3.53M | 4.5M | 4.6M | 1.7M | 800K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -292K | -2.47M | 0 | 0 | -17K | 5.06M | -467K | -225K | -575K | -1.35M | -162K | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -573K | -612K | -496K | 1.43M | 318K | 1.04M | 626K | 843K | 1.44M | 2M | 2.57M | 2.17M | 2.34M | 2.59M | 4.18M | 4.83M | 1.9M | 2.3M | 2.68M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.74 | -3.18 | -1.08 | -1.65 | 2.58 | 3.58 | -1.34 | 0.76 | 1.31 | 1.14 | 1.15 | 1.54 | 1.43 | 1.13 | 1.65 | 0.40 | 0.74 | 0.87 | 1.93 | 3.61 | 1.47 | 1.85 | 1.93 | 1.03 | 1.32 | -2.15 | -1.17 | 1.29 | 1.20 | 0.47 | 0.24 |
| EPS Growth % | 36.73% | -194.44% | 34.55% | -163.95% | -27.93% | 367.16% | -276.32% | -41.98% | 14.91% | -0.87% | -25.32% | 7.69% | 26.55% | -31.52% | 312.5% | -45.95% | -14.94% | -54.92% | -46.54% | 145.58% | -20.54% | -4.15% | 87.38% | -21.97% | 161.4% | -83.76% | -190.7% | 7.5% | 155.32% | 95.83% | -29.41% |
| EPS (Basic) | - | -3.18 | -1.08 | -1.65 | 2.61 | 3.67 | -1.34 | 0.77 | 1.35 | 1.18 | 1.18 | 1.59 | 1.49 | 1.18 | 1.67 | 0.41 | 0.75 | 0.88 | 1.94 | 3.63 | 1.50 | 1.92 | 2.01 | 1.04 | 1.33 | -2.15 | -1.17 | 1.30 | 1.21 | 0.47 | 0.24 |
| Diluted Shares Outstanding | 3.61M | 3.6M | 3.6M | 3.6M | 3.6M | 3.6M | 3.5M | 3.53M | 3.55M | 3.53M | 3.51M | 3.51M | 3.43M | 3.37M | 3.33M | 3.52M | 3.51M | 3.51M | 3.61M | 3.61M | 3.55M | 3.56M | 3.44M | 3.21M | 3.21M | 3.19M | 3.19M | 3.48M | 3.85M | 3.78M | 3.33M |
| Basic Shares Outstanding | 3.61M | 3.6M | 3.6M | 3.6M | 3.56M | 3.52M | 3.5M | 3.48M | 3.44M | 3.42M | 3.42M | 3.39M | 3.3M | 3.25M | 3.29M | 3.49M | 3.49M | 3.49M | 3.59M | 3.58M | 3.47M | 3.44M | 3.31M | 3.18M | 3.18M | 3.18M | 3.19M | 3.46M | 3.83M | 3.72M | 3.33M |
| Dividend Payout Ratio | - | - | - | - | 9.63% | - | - | 130.08% | 73.96% | 63.6% | 84.86% | 78.66% | 66.75% | 63.61% | 59.12% | 246.86% | 267.98% | 50.87% | 90.73% | 123.55% | 92.85% | 72.97% | - | - | - | - | - | - | - | - | - |
Localized Revenue Concentration Risk
As indicated by the most recent quarterly filings, ARKR's revenue has experienced a consistent downward trajectory, culminating in a 7.9% year-over-year decline in 2026Q2, which highlights the company's ongoing struggle to maintain foot traffic across its legacy restaurant portfolio in high-density urban and casino environments.
The sustained contraction in revenue suggests that the company's reliance on specific, non-replicable locations is failing to offset broader shifts in consumer discretionary spending and office occupancy patterns. Investors should monitor whether this trend reflects a permanent loss of market share or merely cyclical volatility inherent in the company's tourist-dependent business model.
Based on reported financial data, gross margins have fluctuated significantly, dropping to 34.3% in 2026Q2 from a peak of 39.0% in 2026Q1, suggesting that the company lacks the pricing power necessary to fully pass through rising labor and commodity costs in its core New York and Las Vegas markets.
The inability to maintain stable gross margins indicates that the high fixed-cost nature of these landmark leaseholds creates significant operating leverage risk during periods of declining volume. This margin volatility appears to be a structural challenge, as the company's premium pricing strategy is increasingly pressured by the need to maintain competitive positioning in a softening demand environment.
According to the income statement, ARKR's operating income has swung into negative territory, reaching -$1.7 million in 2026Q2, which demonstrates that the company's fixed operating expenses are currently scaling faster than its gross profit, thereby eroding the firm's ability to achieve sustainable profitability at current revenue levels.
The transition to negative operating margins suggests that the company's cost structure is too rigid to adapt to the current revenue decline. Without a meaningful recovery in top-line throughput, the company may face continued pressure on its operating performance, as fixed occupancy and labor costs remain largely unresponsive to the recent contraction in sales.
While the company's net income has been consistently negative in recent periods, as shown in the 2026Q2 loss of $1.8 million, a counter-narrative exists suggesting that the intrinsic value of its irreplaceable leasehold interests may be significantly higher than what is currently reflected in the company's market valuation.
Short-sellers might focus on the persistent operational losses and the potential for further impairment charges on aging assets. However, an alternative interpretation warrants investigation: the company may be a 'sum-of-the-parts' play where the liquidation or strategic sale of specific high-value leases could unlock value that the current income statement fails to capture.
Quick answers to the most common questions about buying ARKR stock.
For fiscal year 2025, Ark Restaurants Corp. (ARKR) reported total revenue of $165.8M. This represents a 115.8% increase compared to $76.8M in 1996.
Ark Restaurants Corp. (ARKR) reported a net loss of $11.5M for the fiscal year ending 2025.
Ark Restaurants Corp. (ARKR) reported an operating income of $-1.3M, resulting in an operating profit margin of -0.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Ark Restaurants Corp. (ARKR) generated $59.0M in gross profit for the year, representing a gross profit margin of 35.6%. This demonstrates the company's core pricing power and production efficiency.