---
schema_version: "secwatch.filing_event.v1"
accession: "0001477932-26-001979"
form_type: "8-K"
ticker: "BTBD"
cik: "0001718224"
company_name: "BT Brands, Inc."
filed_at: "2026-04-03T23:59:59+00:00"
generated_at: "2026-05-15T07:38:31.936336+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# BT Brands reports 2025 results: Restaurant EBITDA up 138% to $1.7M, net loss narrows to $0.11 per share

## Summary
- Restaurant-level EBITDA rose 138% to $1.7M from $724K in 2024; EBITDA margin improved to 12.4% from 4.9%.
- Net loss improved to $(687,839) ($0.11 per share) from $(2.3M) ($0.37 per share) on $13.5M revenue (down 9% YoY).
- Operating loss improved ~80% to $(364,585); company ended year with $4.4M in cash and marketable securities.
- Advancing transformational merger with Aero Velocity, Inc. to reposition into AI/drone platform; restaurant assets to be distributed to pre-merger shareholders.
- Recorded a $216K charge to reduce NGI bottled water inventory to estimated net realizable value.

## SEC filing metadata
- accession: 0001477932-26-001979
- form_type: 8-K
- ticker: BTBD
- cik: 0001718224
- company_name: BT Brands, Inc.
- filed_at: 2026-04-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1718224/000147793226001979/0001477932-26-001979-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1718224/000147793226001979/btbd_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477932-26-001979
- JSON: https://secwatch.observer/filing/0001477932-26-001979.json
- Plain text: https://secwatch.observer/filing/0001477932-26-001979.txt

## Source-grounded claims
- claim_id: a8c14a7fa5b64b73d39eae3a7d30720cc447a37e
  claim: BT Brands, Inc. reported fiscal year ended December 28, 2025 results: revenue $ 13,486,629, net income $ (687,839 ), EPS $ (0.11 ).
  evidence_excerpt: BT BRANDS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (52 Weeks Ended) 52 Weeks Ended, 52 Weeks Ended, December 28, 2025 December 29, 2024 SALES $ 13,486,629 $ 14,823,472 COSTS AND EXPENSES Food and paper costs 4,494,449 5,605,579 Labor costs 5,111,097 6,128,574 Occupancy costs 1,282,049 1,403,204 Other operating expenses 878,125 962,287 Depreciation and amortization 648,704 742,860 Impairment of restaurant and right-of-use assets 215,000 371,872 General and administrative 1,464,021 1,691,404 Gain on sale of assets (242,231 ) (250,000 ) Total costs and expenses 13,851,214 16,655,780 Loss from operations (364,585 ) (1,832,308 ) Unrealized gain (loss) on marketable securities 128,822 (93,458 ) Realized gain on marketable securities 380,764 143,340 Interest and dividend income 148,666 178,279 Interest expense (81,621 ) (99,608 ) Related party impairments and other charges (520,718 ) - Other income (74,728 ) 13,930 Equity in loss of unconsolidated affiliate (304,439 ) (415
  evidence_url: https://www.sec.gov/Archives/edgar/data/1718224/000147793226001979/0001477932-26-001979-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.