# Dave & Buster's Entertainment, Inc.: Form 10-Q for the period ended May 6, 2025

- Company: [Dave & Buster's Entertainment, Inc.](/companies/play.md) (CIK 1525769)
- Form: 10-Q
- Filed: 2025-06-10
- Accepted by EDGAR: Jun 10, 2025, 16:11 ET
- Period: 2025-05-06
- Accession: 0001628280-25-030462
- Inline XBRL: yes
- Main document: https://www.sec.gov/Archives/edgar/data/1525769/000162828025030462/play-20250506.htm
- All documents and exhibits: https://www.sec.gov/Archives/edgar/data/1525769/000162828025030462/

## Figures reported in this filing

Standardized XBRL line items for the period ended 2025-05-06.

| Line item | Period | Value | XBRL concept |
| --- | --- | ---: | --- |
| Revenue | 3 months, 2025-02-05 to 2025-05-06 | $567.7m | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Cost of revenue | 3 months, 2025-02-05 to 2025-05-06 | $82.1m | us-gaap:CostOfRevenue |
| Operating income | 3 months, 2025-02-05 to 2025-05-06 | $63.2m | us-gaap:OperatingIncomeLoss |
| Interest expense | 3 months, 2025-02-05 to 2025-05-06 | $36.8m | us-gaap:InterestExpenseNonoperating |
| Income tax | 3 months, 2025-02-05 to 2025-05-06 | $4.7m | us-gaap:IncomeTaxExpenseBenefit |
| Diluted EPS | 3 months, 2025-02-05 to 2025-05-06 | $0.62 | us-gaap:EarningsPerShareDiluted |
| Basic EPS | 3 months, 2025-02-05 to 2025-05-06 | $0.63 | us-gaap:EarningsPerShareBasic |
| Diluted shares (weighted) | 3 months, 2025-02-05 to 2025-05-06 | 35,190,000 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding |
| Operating cash flow | 3 months, 2025-02-05 to 2025-05-06 | $95.8m | us-gaap:NetCashProvidedByUsedInOperatingActivities |
| Capital expenditure | 3 months, 2025-02-05 to 2025-05-06 | $154.6m | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
| Share repurchases | 3 months, 2025-02-05 to 2025-05-06 | $23.9m | us-gaap:PaymentsForRepurchaseOfCommonStock |
| Cash and equivalents | at 2025-05-06 | $11.9m | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Current assets | at 2025-05-06 | $113.4m | us-gaap:AssetsCurrent |
| Total assets | at 2025-05-06 | $4.06bn | us-gaap:Assets |
| Current liabilities | at 2025-05-06 | $431.4m | us-gaap:LiabilitiesCurrent |
| Long-term debt | at 2025-05-06 | $1.57bn | us-gaap:LongTermDebtNoncurrent |
| Current portion of debt | at 2025-05-06 | $7.0m | us-gaap:LongTermDebtCurrent |
| Shareholders' equity | at 2025-05-06 | $146.8m | us-gaap:StockholdersEquity |

## Management's discussion and analysis

As filed, 1,596 characters.

Information regarding repurchase of our common stock during the three months ended May 6, 2025:

| Period (1) | Total Number of Shares Repurchased (2) (in millions) | Average Price Paid per Share (2) | Total Number of Shares Repurchased as Part of Publicly Announced Plans (2) (3) (in millions) | Approximate Dollar Value of Shares That May Yet Be Repurchased Under the Plans (4) (in millions) |
| --- | ---: | ---: | ---: | ---: |
| February 5, 2025 to March 4, 2025 | 0.78 | $24.2 | 0.78 | $109.1 |
| March 5, 2025 to April 8, 2025 | 0.26 | $19.5 | 1.04 | $104.1 |
| April 9, 2025 to May 6, 2025 | — | $— | — | $— |

(1) The Company uses a “4-5-4” calendar to determine the months in each quarter. The periods presented represent the 4-week and 5-week periods making up the three months ended May 6, 2025.

(2) Represents cumulative shares repurchased under repurchase programs. Excludes shares withheld for tax purposes on behalf of our employees in connection with the vesting of time-based and performance-based restricted stock units.

(3) Our Board of Directors approved a share repurchase program in fiscal 2023, with approved increases during 2024. Under the program, the Company may repurchase shares on the open market, through privately negotiated transactions, and through trading plans designed to comply with Rule 10b5-1 of the Exchange Act, as amended. The share repurchase program(s) may be modified, suspended or discontinued at any time.

(4) Represents total cumulative share repurchase authorizations in effect, less cumulative purchases, at the end of each period presented.

## Market risk

As filed, 1,940 characters.

### Commodity Price Risk

We are exposed to market price fluctuation in food, beverage, supplies and other costs such as energy. Given the historical volatility of certain of our food product prices, including proteins, seafood, produce, dairy products, and cooking oil, these fluctuations can materially impact our food costs. While our purchasing commitments partially mitigate the risk of such fluctuations, there is no assurance that supply and demand factors such as disease or inclement weather will not cause the prices of the commodities used in our restaurant operations to fluctuate. Additionally, the cost of purchased materials may be influenced by tariffs and other trade regulations which are outside of our control. To the extent that we do not pass along cost increases to our customers, our results of operations may be adversely affected.

### Interest Rate Risk

The Credit Facility, discussed further at Note 4 to the unaudited consolidated financial statements, is based on variable interest rates. As of May 6, 2025, the Company had $225.0 outstanding on its revolving facility and an outstanding balance of $1,387.5 on its term loan facility. The impact on our annual results of operations of a hypothetical one percentage point interest rate change on the outstanding balance of the Credit Facility as of May 6, 2025 would be approximately $16.1.

### Inflation

Severe increases in inflation, whether due to imposed tariffs or standard economic conditions, could affect the United States or global economies and have an adverse impact on our business, financial condition and results of operation. If several of the various costs in our business experience inflation at the same time, such as commodity price increases beyond our ability to control and increased labor costs, we may not be able to adjust prices to sufficiently offset the effect of the various cost increases without negatively impacting consumer demand.

## Controls and procedures

As filed, 875 characters.

### Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including the Interim Chief Executive Officer and Chief Financial Officer, we have evaluated the effectiveness of our disclosure controls and procedures pursuant to Rules 13a-15 and 15d-15 promulgated under the Exchange Act as of the end of the period covered by this report. Based on that evaluation, the Interim Chief Executive Officer and Chief Financial Officer have concluded that these disclosure controls and procedures are effective.

### Changes in Internal Control Over Financial Reporting

There were no changes to our internal control over financial reporting practices or processes that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting during our first quarter ended May 6, 2025.

## Risk factors

As filed, 124 characters.

See discussion in “Risk Factors” in Item 1A of the Company's Annual Report on Form 10-K for the year ended February 4, 2025.

Filed Jun 10, 2025.
Source: SEC EDGAR, the filing index for accession 0001628280-25-030462. Last ingested by Listed: Oct 27, 2026, 16:11 ET. No prices; not investment advice.