Build-A-Bear Workshop Continues To Expect FY25 Total Revenues To Grow On Mid-To-High-Single-Digit Percentage Basis

2025 Outlook

The Company reaffirms its 2025 revenue, pre-tax income, and net-new-unit guidance.

Specifically, the Company continues to expect:

• Total revenues to grow on a mid-to-high-single-digit percentage basis
• Pre-tax income in the range of $62 million to $70 million, reflecting approximately $11 million of tariffs and related costs during the seven months from July through the end of the fiscal year
• Net-new-unit growth of at least 60 experience locations through a combination of corporately-managed, partner-operated, and franchise business models

In addition, for fiscal 2025, the Company continues to expect:

• Capital expenditures in the range of $20 million to $25 million
• Depreciation and amortization to approximate $16 million
• The income tax rate to be in the range of 22% to 24%, excluding discrete items