PLAY earnings analysis
What we found in PLAY's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
In its Q1 2026 report, Dave & Buster's reported revenue of $559.2 million, falling short of the $578.3 million consensus estimate, and a diluted EPS of $0.22, below expectations of $0.60. The company's gross margin improved to 86.3%, while operating margin decreased to 9.7%. Despite a revenue shortfall, the comparison to the previous year's EPS shows a positive trend, moving from negative territory to a slight positive, marking an improvement in earnings performance.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Decline
- Revenue for Q1 2026 was $559.2 million, a decline of 1.3% compared to $568 million in Q4 2025.
- Gross Margin Increase
- Gross margin improved to 86.3% versus 85.5% in the previous quarter.
- Operating Margin Decrease
- Operating margin decreased to 9.7%, down from 11.1% in Q1 2026.
- EPS Miss
- Reported EPS was $0.22, significantly below the estimated $0.60.
- Decrease in FCF Loss
- Free cash flow loss narrowed to -$55 million from -$59 million in Q4 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Revenue Miss Against Estimates
- Actual revenue of $559.2 million missed expectations of $578.3 million by 3.9%.
- EPS Underperformance
- The EPS of $0.22 was worse than expectations of $0.60, creating concern for future profitability.
- Negative Operating Income
- For the quarter, operating margin fell to 9.7%, indicating challenges in maintaining profitability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.22
- Gross margin
- 86.3%
- Operating margin
- 9.7%
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads worse than the one before it.
What came before.
- 10-K · March 31, 2026
- Dave & Buster’s (D&B Entertainment) positions itself as a multi-format out-of-home entertainment operator with 243 venues (179 Dave & Buster’s; 64 Main Event) and a strategy to grow comps, refresh sites, invest in…
- 10-Q · December 9, 2025
- Dave & Buster’s reported Q3 revenue of $448.2 million, down $4.8 million vs. the prior-year quarter ($453.0 million). Operating loss widened to $(16.2) million from operating income of $6.3 million a year ago, and…
- 10-K · April 7, 2025
- Dave & Buster's Entertainment, Inc. reported mixed results in its 2025 10-K filing, indicating continued growth in store count while facing challenges in revenue and earnings per share. The company emphasizes its…
- 10-Q · September 10, 2024
- Dave & Buster’s reported 13-week revenue of $557.1 million (13 weeks ended August 6, 2024), up $15.0 million (+2.8%) versus the prior-year quarter. Gross margin expanded to ~85.3% and operating margin rose to ~15.2%,…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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