The stock may react positively to the EBITDA improvement and turnaround progress, but the lack of revenue growth and absence of 2026 guidance limit upside. Traders should monitor progress on the Aero Velocity merger, which represents a fundamental business transformation and potential re-rating catalyst.
Price Chart
Executive Summary
BT Brands reported 2025 financial results showing a 138% increase in restaurant-level EBITDA to $1.7 million and a significant reduction in net loss to $(687,839) from $(2.3) million in 2024, despite lower revenue of $13.49M vs $14.82M. The company is advancing its transformational merger with Aero Velocity, Inc., which will pivot it toward an AI and drone services platform, while distributing restaurant assets to pre-merger shareholders.
Key Financial Metrics
Key Facts
- Restaurant-level EBITDA increased 138% to $1.7M in 2025 from $723,828 in 2024
- Net loss narrowed to $(687,839) or $(0.11) per share vs $(2.3M) or $(0.37) per share in 2024
- Revenue declined 9% to $13.49M from $14.82M in 2024
- Company ended 2025 with $4.4M in cash and marketable securities
- No formal financial guidance provided for 2026
- Merger with Aero Velocity, Inc. remains pending, with post-merger entity to focus on AI and drone services
Financial Impact
Revenue down 9%, EBITDA up 138%, net loss reduced by 70%
Risk Factors
- Revenue decline of 9% despite cost-cutting and closures
- No formal financial guidance for 2026, indicating uncertainty
- Merger with Aero Velocity is subject to approvals and may not close
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001477932-26-001979 |
| Document: btbd_8k.htm | 0001477932-26-001979 |
| Document: 0001477932-26-001979-index-headers.html | 0001477932-26-001979 |
| Document: 0001477932-26-001979-index.html | 0001477932-26-001979 |
| Document: 0001477932-26-001979.txt | 0001477932-26-001979 |
| 8-K Data (Synthetic) | 0001477932-26-001979 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 1, 2026 21w ago | 8-K | $0.1990 $0.0391 | ▲ +80.35% | ▲ +79.05% | — |
May 14, 2026 23w ago | Press Release | $0.1990 $0.1990 | · 0.00% | ▲ +2.12% | — |
May 7, 2026 24w ago | 8-K | $0.1990 $0.1990 | · 0.00% | ▲ +0.02% | — |
Apr 16, 2026 27w ago | 8-K | $0.1990 $0.1990 | · 0.00% | ▼ −5.37% | — |
Apr 6, 2026 29w ago | 8-K | $0.1990 $0.1990 | · 0.00% | ▼ −8.98% | — |
Apr 2, 2026 29w ago | 8-K | $0.1990 $0.1990 | · 0.00% | ▼ −8.98% | — |
US Market Status
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