BT Brands Reports Q1 Results with 12.1% Revenue Decline
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 15 2026
0mins
Source: seekingalpha
- Financial Performance: BT Brands' Q1 report reveals a GAAP EPS of -$0.12 and revenue of $2.84 million, reflecting a 12.1% year-over-year decline, indicating significant pressure on the company's market position and profitability.
- Cash Flow Status: The company ended the quarter with approximately $3.6 million in cash and marketable securities, alongside positive working capital of about $3.9 million, suggesting some short-term financial flexibility, though long-term profitability remains a concern.
- Merger Agreement Termination: BT Brands has announced the termination of its merger agreement with Aero Velocity, which could impact its future market expansion and resource integration strategies, particularly regarding collaborations in mobile drone platforms.
- Strategic Adjustments: Aero Velocity's partnership with AC Future highlights dynamic changes within the industry, prompting BT Brands to reassess its strategic direction to maintain competitiveness.
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Analyst Views on BTBD
About BTBD
BT Brands, Inc. operates fast-food and casual dining restaurants, including Burger Time locations in North Dakota, South Dakota, and Minnesota; Pie In The Sky Coffee and Bakery in Woods Hole, Massachusetts; Keegan’s Seafood Grille near Clearwater, Florida, and Schnitzel Haus in Hobe Sound, Florida. The Company also owns a 40.7% interest in Bagger Dave’s Burger Tavern, Inc. It owns and operates Keegan’s Seafood Grille (Keegan’s), a dine-in restaurant; Pie In The Sky Coffee and Bakery (PIE), a casual dining coffee shop bakery, and Schnitzel Haus (Schnitzel), a German-themed restaurant. Its Burger Time restaurants offer a variety of burgers and other foods, sides, and soft drinks. Keegan’s Seafood Grille offers a variety of traditional fresh seafood items for lunch and dinner. PIE features an array of freshly prepared baked goods, sandwiches, and its locally roasted coffee. Schnitzel is a full-service restaurant and bar featuring a German-themed menu and specialty imported European beers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
BT Brands Reports Q1 Results with 12.1% Revenue Decline
- Financial Performance: BT Brands' Q1 report reveals a GAAP EPS of -$0.12 and revenue of $2.84 million, reflecting a 12.1% year-over-year decline, indicating significant pressure on the company's market position and profitability.
- Cash Flow Status: The company ended the quarter with approximately $3.6 million in cash and marketable securities, alongside positive working capital of about $3.9 million, suggesting some short-term financial flexibility, though long-term profitability remains a concern.
- Merger Agreement Termination: BT Brands has announced the termination of its merger agreement with Aero Velocity, which could impact its future market expansion and resource integration strategies, particularly regarding collaborations in mobile drone platforms.
- Strategic Adjustments: Aero Velocity's partnership with AC Future highlights dynamic changes within the industry, prompting BT Brands to reassess its strategic direction to maintain competitiveness.
See More
BT Brands Terminates Merger Agreement with Aero Velocity
- Merger Agreement Termination: BT Brands announced the termination of its merger agreement with Aero Velocity due to failure to secure SEC approval by April 30, 2026, highlighting compliance challenges that may impact future M&A activities.
- Shareholder Interests Prioritized: The decision to end the transaction reflects BT Brands' commitment to shareholder value, potentially enhancing market confidence in its governance and strategic decision-making processes.
- Focus on Profitability: CEO Gary Copperud emphasized that the company will continue to focus on improving restaurant profitability, cash flow, and balance sheet flexibility, a strategy that will help maintain competitiveness in an uncertain market environment.
- Evaluating New Opportunities: BT Brands is assessing other opportunities to enhance shareholder value, indicating a proactive approach to growth and innovation despite the merger setback, which may attract investor interest.
See More
Investor Rights Law Firm Investigates Multiple Companies
- Merger Investigation: Halper Sadeh LLC is investigating the merger between BT Brands, Inc. (NASDAQ: BTBD) and Aero Velocity Inc., with BT Brands shareholders expected to own approximately 11% of the combined company post-transaction, potentially impacting shareholder rights and future returns.
- Shareholder Rights Protection: The law firm encourages KORE Group Holdings, Inc. (NYSE: KORE) shareholders to pay attention to the sale to Searchlight Capital Partners, L.P. and Abry Partners for $9.25 per share, ensuring shareholders are informed of their rights and options to protect their interests.
- Executive Transaction Scrutiny: FONAR Corporation (NASDAQ: FONR) is set to sell to CEO Timothy Damadian and other executives at $19.00 per share for Class B common stock and $6.34 per share for Class C common stock, with Halper Sadeh LLC potentially seeking increased compensation and disclosures for shareholders.
- Legal Service Commitment: Halper Sadeh LLC offers legal services on a contingency fee basis, ensuring no upfront costs for clients, aiming to protect global investors and secure their rights and compensation in cases of securities fraud and corporate misconduct.
See More
BT Brands Partners with Aero Velocity for Military Drone Platform Development
- Strategic Partnership: BT Brands (BTBD) announced a strategic partnership with Aero Velocity to develop a mobile drone launch platform aimed at U.S. military and public sector needs, which is expected to significantly enhance the company's competitiveness in the defense market.
- Platform Capabilities: The platform will provide a mobile, self-contained system for drone launch, recovery, and command operations, featuring multi-drone launch and storage, onboard power systems, secure communications, and modular payload configurations to support missions such as surveillance, logistics, and emergency response.
- Funding Opportunities: BT Brands stated that the partners plan to pursue U.S. government funding opportunities and explore commercial and public safety applications, which are anticipated to create new revenue streams and market expansion opportunities for the company.
- Stock Price Reaction: BT Brands' stock rose 14.61% in pre-market trading to $1.96, reflecting positive market expectations and increased investor confidence regarding the strategic partnership.
See More
BT Brands' Merger Partner Aero Velocity Forms Strategic Alliance for Drone Development
- Strategic Partnership: Aero Velocity has formed a strategic partnership with AC Future to jointly develop a Mobile Drone Launch Vehicle platform aimed at U.S. military and public-sector applications, leveraging both companies' expertise in unmanned aerial systems and smart platform engineering to enhance technological capabilities.
- Mobile Drone Platform: The Mobile Drone Launch Vehicle platform offers a fully mobile, self-contained launch, recovery, and command system capable of operating in austere and communications-degraded environments, showcasing its potential for complex missions and strengthening the company's competitive position in the defense sector.
- Funding Opportunities: The companies plan to pursue funding opportunities from the U.S. Department of War and other government entities while evaluating commercial and public safety use cases, further expanding their market reach and business scope to drive future growth.
- Stock Price Reaction: In pre-market trading, BT Brands shares rose by 16.37% to $1.99, reflecting investor optimism regarding the company's strategic partnership and future potential.
See More
BT Brands Executes Operational Turnaround While Positioning for Growth
- Restaurant-Level EBITDA Surge: BT Brands reported a remarkable 138% increase in restaurant-level EBITDA, rising from $723,828 in 2024 to $1.7 million, indicating significant operational efficiency improvements that enhance its competitive position in the market.
- Substantial Operating Loss Reduction: The company's operating loss improved approximately 80%, decreasing from $1.8 million in 2024 to $364,585, demonstrating effective cost control and the closure of underperforming locations, which are crucial for enhancing profitability.
- Net Loss Decline: BT Brands' net loss decreased from $2.3 million in 2024 to $687,839, with loss per share improving from $0.37 to $0.11, reflecting positive strides in financial health and operational performance.
- Optimistic Merger Outlook: The ongoing merger with Aero Velocity is expected to reposition BT Brands into a high-growth technology platform focused on AI-driven analytics and drone inspection services, potentially unlocking greater market value and growth opportunities in the future.
See More
BT Brands Reports Q1 Results with 12.1% Revenue Decline
- Financial Performance: BT Brands' Q1 report reveals a GAAP EPS of -$0.12 and revenue of $2.84 million, reflecting a 12.1% year-over-year decline, indicating significant pressure on the company's market position and profitability.
- Cash Flow Status: The company ended the quarter with approximately $3.6 million in cash and marketable securities, alongside positive working capital of about $3.9 million, suggesting some short-term financial flexibility, though long-term profitability remains a concern.
- Merger Agreement Termination: BT Brands has announced the termination of its merger agreement with Aero Velocity, which could impact its future market expansion and resource integration strategies, particularly regarding collaborations in mobile drone platforms.
- Strategic Adjustments: Aero Velocity's partnership with AC Future highlights dynamic changes within the industry, prompting BT Brands to reassess its strategic direction to maintain competitiveness.
See More
BT Brands Terminates Merger Agreement with Aero Velocity
- Merger Agreement Termination: BT Brands announced the termination of its merger agreement with Aero Velocity due to failure to secure SEC approval by April 30, 2026, highlighting compliance challenges that may impact future M&A activities.
- Shareholder Interests Prioritized: The decision to end the transaction reflects BT Brands' commitment to shareholder value, potentially enhancing market confidence in its governance and strategic decision-making processes.
- Focus on Profitability: CEO Gary Copperud emphasized that the company will continue to focus on improving restaurant profitability, cash flow, and balance sheet flexibility, a strategy that will help maintain competitiveness in an uncertain market environment.
- Evaluating New Opportunities: BT Brands is assessing other opportunities to enhance shareholder value, indicating a proactive approach to growth and innovation despite the merger setback, which may attract investor interest.
See More
Investor Rights Law Firm Investigates Multiple Companies
- Merger Investigation: Halper Sadeh LLC is investigating the merger between BT Brands, Inc. (NASDAQ: BTBD) and Aero Velocity Inc., with BT Brands shareholders expected to own approximately 11% of the combined company post-transaction, potentially impacting shareholder rights and future returns.
- Shareholder Rights Protection: The law firm encourages KORE Group Holdings, Inc. (NYSE: KORE) shareholders to pay attention to the sale to Searchlight Capital Partners, L.P. and Abry Partners for $9.25 per share, ensuring shareholders are informed of their rights and options to protect their interests.
- Executive Transaction Scrutiny: FONAR Corporation (NASDAQ: FONR) is set to sell to CEO Timothy Damadian and other executives at $19.00 per share for Class B common stock and $6.34 per share for Class C common stock, with Halper Sadeh LLC potentially seeking increased compensation and disclosures for shareholders.
- Legal Service Commitment: Halper Sadeh LLC offers legal services on a contingency fee basis, ensuring no upfront costs for clients, aiming to protect global investors and secure their rights and compensation in cases of securities fraud and corporate misconduct.
See More
BT Brands Partners with Aero Velocity for Military Drone Platform Development
- Strategic Partnership: BT Brands (BTBD) announced a strategic partnership with Aero Velocity to develop a mobile drone launch platform aimed at U.S. military and public sector needs, which is expected to significantly enhance the company's competitiveness in the defense market.
- Platform Capabilities: The platform will provide a mobile, self-contained system for drone launch, recovery, and command operations, featuring multi-drone launch and storage, onboard power systems, secure communications, and modular payload configurations to support missions such as surveillance, logistics, and emergency response.
- Funding Opportunities: BT Brands stated that the partners plan to pursue U.S. government funding opportunities and explore commercial and public safety applications, which are anticipated to create new revenue streams and market expansion opportunities for the company.
- Stock Price Reaction: BT Brands' stock rose 14.61% in pre-market trading to $1.96, reflecting positive market expectations and increased investor confidence regarding the strategic partnership.
See More
BT Brands' Merger Partner Aero Velocity Forms Strategic Alliance for Drone Development
- Strategic Partnership: Aero Velocity has formed a strategic partnership with AC Future to jointly develop a Mobile Drone Launch Vehicle platform aimed at U.S. military and public-sector applications, leveraging both companies' expertise in unmanned aerial systems and smart platform engineering to enhance technological capabilities.
- Mobile Drone Platform: The Mobile Drone Launch Vehicle platform offers a fully mobile, self-contained launch, recovery, and command system capable of operating in austere and communications-degraded environments, showcasing its potential for complex missions and strengthening the company's competitive position in the defense sector.
- Funding Opportunities: The companies plan to pursue funding opportunities from the U.S. Department of War and other government entities while evaluating commercial and public safety use cases, further expanding their market reach and business scope to drive future growth.
- Stock Price Reaction: In pre-market trading, BT Brands shares rose by 16.37% to $1.99, reflecting investor optimism regarding the company's strategic partnership and future potential.
See More
BT Brands Executes Operational Turnaround While Positioning for Growth
- Restaurant-Level EBITDA Surge: BT Brands reported a remarkable 138% increase in restaurant-level EBITDA, rising from $723,828 in 2024 to $1.7 million, indicating significant operational efficiency improvements that enhance its competitive position in the market.
- Substantial Operating Loss Reduction: The company's operating loss improved approximately 80%, decreasing from $1.8 million in 2024 to $364,585, demonstrating effective cost control and the closure of underperforming locations, which are crucial for enhancing profitability.
- Net Loss Decline: BT Brands' net loss decreased from $2.3 million in 2024 to $687,839, with loss per share improving from $0.37 to $0.11, reflecting positive strides in financial health and operational performance.
- Optimistic Merger Outlook: The ongoing merger with Aero Velocity is expected to reposition BT Brands into a high-growth technology platform focused on AI-driven analytics and drone inspection services, potentially unlocking greater market value and growth opportunities in the future.
See More
