Build-A-Bear Workshop Reiterates Its 2025 Revenue Guidance And Updates Its Pre-tax Income Guidance, Inclusive Of Current Tariff Rates

2025 Outlook

The Company reiterates its 2025 revenue guidance and updates its pre-tax income guidance, inclusive of current tariff rates. Specifically, the Company:

• Continues to expect total revenues to grow on a mid-single-digit percentage basis
• Now expects pre-tax income in the range of $61 million to $67 million

In addition, for fiscal 2025, the Company:

• Continues to expect net new unit growth of at least 50 experience locations through a combination of corporately-managed, partner-operated, and franchised business models
• Continues to expect capital expenditures in the range of $20 million to $25 million
• Continues to expect depreciation and amortization to approximate $16 million
• Now expects the tax rate in the range of 22% to 24%, excluding discrete items

The Company's guidance considers various factors, including the current tariff rates, medical and labor cost pressures, increased freight costs, and ongoing inflationary challenges. Additionally, the Company's outlook does not contemplate any further material changes in tariffs, the macroeconomic or geopolitical environment, or relevant foreign currency exchange rates.