TWNPQ Twin Hospitality Group Inc.

Overview and Growth

Twin Hospitality Group Inc. generated $353.80M of revenue in fiscal 2024, with net loss of $48.17M and an operating cash outflow of $15.04M. The $353.80M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 53.2% above fiscal 2023 revenue of $230.87M, marking a year-over-year increase. Total assets stood at $542.45M, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Revenue equaled 0.65x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Gross profit was $266.39M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross margin was 75.3%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operations produced a $8.33M operating loss before non-operating and tax effects. Relative to revenue, the operating deficit measured 2.4%, showing the shortfall after operating costs. After all below-operating-line items, the company recorded a net loss of $48.17M for the fiscal year. Measured against revenue, the bottom-line deficit represented 13.6% after all recognized items. Reported EBITDA totaled $15.19M, adding a pre-interest, tax, depreciation, and amortization perspective to the profitability profile. Before income taxes, the company recorded a loss of $56.57M, bridging the operating result to the final net loss. Pretax margin was -16.0%, reflecting a pre-tax loss equal to 16.0% of revenue. An income-tax benefit of $8.40M improved the final result relative to pretax income or loss. The loss-to-assets relationship was 8.9%, placing the bottom-line deficit against the company’s resource base. The bottom-line deficit increased from $13.84M in fiscal 2023 to $48.17M.

Liquidity and Capital Structure

Total assets were $542.45M, supported by $627.05M of liabilities and -$84.61M of shareholder equity. With total equity at -$84.61M, the company carried a negative book-capital position, increasing its reliance on liabilities and future earnings. The near-term balance sheet paired $28.80M of current assets with $55.23M of current liabilities at the reporting date. At 0.52x, current liabilities exceeded current assets and placed pressure on the company’s near-term liquidity position. Total debt was $415.70M, establishing the amount of borrowing carried within the company’s capital structure. Debt represented 76.6% of total assets, placing borrowing in the context of the company’s full resource base. Book equity represented -15.6% of total assets, quantifying the balance-sheet share supported by shareholder capital. Relative to total assets, liabilities measured 115.6%, complementing the separate equity-based view of the company’s capital structure. The asset base changed 4.1% from $565.58M in fiscal 2023, leaving current total assets lower year over year.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $15.04M, showing that operations absorbed cash during the period. Capital expenditures used $25.14M in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. Negative free cash flow was $40.17M, leaving a cash deficit after capital spending and reducing financial flexibility. Relative to revenue, the post-investment cash deficit represented 11.4%. The cash deficit after capital spending represented 7.4% of the period-end asset base. Operating cash flow moved from a $6.04M inflow in fiscal 2023 to a $15.04M outflow.

Based on the annual report for the fiscal year ending Dec 29, 2024. Analysis generated Oct 21, 2026.