Shake Shack returns to profitability in Q3 with $13.7m net income
It aims to open 45 to 50 company-owned restaurants this year, and 55 to 60 in FY 2026.
Shake Shack reported net income of $13.7m in Q3 2025, reversing an $11.1m loss from the same period last year.
Adjusted EBITDA rose 18.2% year on year (YoY) to $54.1m.
Net income attributable to Shake Shack Inc. came in at $12m, or $0.30 per diluted share.
On a pro forma basis, adjusted net income was $15.9m, or $0.36 per fully exchanged and diluted share.
Revenue climbed 15.9% YoY to $367.4m, with Shack sales up 15.7% YoY to $352.8m. Licensing revenue increased 21.1% YoY to $14.6m.
System-wide sales rose 15.4% YoY to $571.5m, driven by new restaurant openings and a 4.9% rise in same-Shack sales, which the company attributed to stronger marketing, operations, and menu innovation.
During the quarter, Shake Shack opened 13 company-operated and seven licensed locations.
The chain expects to open 45 to 50 company-owned restaurants this year and 55 to 60 in FY 2026.
Its licensed segment also continued expanding, with 23 openings year-to-date and targets of 35 to 40 new locations in 2025 and 40 to 45 in 2026.
