Red Robin swings to Q1 loss as guest traffic falls, liquidity tightens, refinancing looms

Filed May 19, 2026 · Period ending April 19, 2026 · Compared to 10-Q May 29, 2025 · ~2 min read

Key Changes

• high

  Company swung from $1.2M net income in Q1 2025 to $2.2M net loss in Q1 2026, a $3.4M deterioration, as revenue fell 3.6% on 1.6% guest count decline and 22 net restaurant closures.

  MD&A: Net Income & Revenue verify on EDGAR →
• high

  Liquidity dropped to $40.8M from $59.2M year-over-year; revolver draws increased to $8.5M from zero, and forward-looking statements now explicitly cite refinancing risk ahead of September 2027 credit facility maturity.

  MD&A: Liquidity & Forward-Looking Statements verify on EDGAR →
• high

  Selling expenses jumped 41% to $13.2M (3.5% of revenue vs. 2.4% prior year) to support marketing strategy, while adjusted EBITDA declined 2% to $27.3M, reversing prior year's 108% surge.

  MD&A: Selling Expenses & Adjusted EBITDA verify on EDGAR →