Dave & Buster’s Misses Expectations but Shares Surge on Outlook

Dave & Buster’s Entertainment, Inc. (NASDAQ: PLAY) reported fourth-quarter results that missed analyst expectations on both earnings and revenue, although shares rose more than 16% intraday Wednesday.

The company reported an adjusted loss of $0.35 per share, compared to analyst expectations for earnings of $0.41 per share. Revenue declined 0.9% year over year to $529.6 million, falling short of the $557.28 million consensus estimate.

Comparable store sales decreased 3.3% compared to the same period last year. However, management indicated that the decline would have been approximately 1.5% excluding the impact of Winter Storm Fern in January.

Looking ahead, the company said it expects fiscal 2026 to deliver growth in same-store sales, total revenue, and adjusted EBITDA, along with more than $100 million in free cash flow.

Dave & Buster’s opened 11 new locations during fiscal 2025 and ended the quarter with 243 company-operated stores.