Here are 1-3 brief analogies for Red Robin Gourmet Burgers (RRGB):

• Red Robin is like Chili's or Applebee's, but with a primary focus on gourmet burgers and bottomless fries.
• Red Robin is like a sit-down, full-service version of Five Guys or Shake Shack.

• Gourmet Burgers: Their primary offering features a wide selection of beef, chicken, and vegetarian burgers, often served with bottomless fries.
• Casual Dining Service: Providing a full-service, sit-down restaurant experience for families and groups, along with take-out and delivery options.
• Other Entrees: A variety of non-burger main dishes, including salads, sandwiches, and chicken platters.
• Beverages: A selection of alcoholic and non-alcoholic drinks, including their popular Bottomless Root Beer Floats and milkshakes.

Red Robin Gourmet Burgers (RRGB) operates a chain of full-service casual dining restaurants. As such, the company primarily sells its food and beverage offerings directly to individual consumers.

The major categories of individual customers served by Red Robin include:

• Families with Children: Red Robin is widely recognized for its family-friendly atmosphere, offering kids' menus, entertainment like crayons, and a welcoming environment that makes it a popular destination for families dining out.
• Casual Diners/Lunch & Dinner Crowds: This category encompasses individuals and groups seeking a comfortable, sit-down meal for lunch or dinner. It includes office workers, shoppers, and local residents looking for a consistent casual dining experience with a focus on burgers and American comfort food.
• Teenagers and Young Adults: With its menu centered around gourmet burgers, bottomless fries, milkshakes, and a lively, relaxed atmosphere, Red Robin frequently attracts younger demographics looking for a place to socialize and enjoy a hearty meal.

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Dave Pace, President and Chief Executive Officer

Dave Pace was appointed President and Chief Executive Officer of Red Robin in April 2025 and has served on its Board of Directors since August 2019. He brings 35 years of leadership and turnaround experience across the food, beverage, and retail sectors. From 2020 to 2023, he co-led Tastemaker Acquisition Corporation, a special purpose acquisition company. From 2016 to 2018, Pace served as CEO of Jamba Juice, Inc., where he successfully repositioned the brand, tripled profit performance, and orchestrated its strategic sale. His prior roles include President of Carrabba's Italian Grill from 2014 to 2016 and Executive Vice President and Chief Resource Officer at Bloomin' Brands from 2010 to 2014. He also held leadership positions at Starbucks Corporation, PepsiCo, and YUM! Brands, Inc.

Todd Wilson, Executive Vice President and Chief Financial Officer

Todd Wilson was named Executive Vice President and Chief Financial Officer at Red Robin in November 2022, but will depart the company effective December 12, 2025. Red Robin has commenced a formal search for his successor, and he is slated to become CFO at BJ's Restaurants starting December 15, 2025. From 2018 to 2022, Wilson served as CFO for Hopdoddy Burger Bar, a privately held L Catterton Growth portfolio company, where he achieved significant operating margin expansion and doubled unit count. From 2016 to 2018, he was VP Finance for Jamba Juice, where he played a key role in the company's successful strategic sale. His experience also includes various financial leadership roles at Bloomin' Brands from 2006 to 2016, including Division CFO for Carrabba's Italian Grill.

Jesse Griffith, Chief Operations Officer

Jesse Griffith was promoted to Chief Operations Officer in November 2025. He joined Red Robin in March 2023 as Senior Vice President of Operations. Before his tenure at Red Robin, he served as Vice President of Operations for Torchy's Tacos, contributing to the company's doubling in restaurant unit growth. Griffith has also held senior operations positions at California Pizza Kitchen, Texas Roadhouse, Quaker Steak & Lube, and Bennigan's.

Sarah Mussetter, Chief Legal Officer

Sarah Mussetter has served as Chief Legal Officer for Red Robin since December 2022. In this role, she oversees all legal matters for the company, including litigation, licensing, risk, food safety, and commercial affairs. Mussetter previously worked at Red Robin from 2011 to 2021, holding positions such as Associate General Counsel and Vice President, Deputy General Counsel. She also served as Senior Vice President, Deputy General Counsel & Assistant Corporate Secretary at Skillsoft Corporation from 2021 to 2022, and began her legal career at the law firm Holme Roberts & Owen LLP (now Bryan Cave Leighton Paisner LLP).

Humera Kassem, Chief People Officer

Humera Kassem was appointed Chief People Officer in September 2025. She is responsible for Red Robin's organizational strategy, focusing on strengthening the company's culture and advancing its "First Choice Plan." With over 30 years of experience, Kassem has a distinguished career in cultivating organizational culture and talent development across various industries. Prior to Red Robin, she served as Chief People Officer at Dave & Buster's and held multiple senior human resource roles at iconic brands such as Coca-Cola, Delta Airlines, JCPenney, and Jamba Juice.

The accelerating consumer shift towards fast-casual and quick-service restaurant (QSR+) concepts offering high-quality burgers and similar fare. These establishments often provide a compelling combination of speed, perceived value, and quality that increasingly draws customers away from traditional full-service casual dining models like Red Robin, eroding market share as preferences lean towards greater convenience and efficiency for everyday meals.

The rapid proliferation of virtual brands and ghost kitchens optimized exclusively for delivery and takeout. These agile, lower-overhead models are increasingly capturing the off-premise dining market, offering competitive pricing and specialized menus that directly challenge Red Robin's ability to compete effectively for delivery orders and mindshare in the growing at-home consumption segment.

The addressable market for Red Robin Gourmet Burgers, Inc. (RRGB) main products in the U.S. is identified primarily by the Burger Restaurants industry.

The market size for Burger Restaurants in the U.S. is an estimated $173.6 billion in 2025.

Red Robin Gourmet Burgers (RRGB) anticipates several key drivers to fuel its revenue growth over the next two to three years, primarily stemming from strategic initiatives aimed at enhancing customer experience, expanding sales channels, and optimizing offerings.

1. Strategic Marketing Initiatives and Menu Innovation: Red Robin is focusing on its "First Choice" plan, which includes strategic marketing campaigns and new product introductions to drive traffic and sales. Successful promotions, such as the "Big Yummm" burger deal, have already shown positive results in boosting midweek dining and lunch dayparts. The company also plans ongoing menu innovation, exemplified by the launch of the "Hot Honey platform" featuring sandwiches, wings, and pizza, to attract new guests and provide value offerings. Data-driven marketing approaches are being expanded to prioritize restaurants and yield improvements in traffic and sales.
2. Enhanced Loyalty Program (Loyalty 2.0): The revamped Red Robin Royalty program, or Loyalty 2.0, is a significant driver of future revenue. The program has continued to spur membership growth, with approximately 15.3 million members reported at the end of the first quarter of 2025. Loyalty transactions, which are generally more profitable, have increased, indicating both higher guest frequency and the successful addition of new loyalty members. This program is viewed as a long-term driver due to positive guest feedback.
3. Growth in Off-Premise Business: The company is strategically growing its off-premise business, which includes takeout, delivery, and catering. This segment represented approximately 25% of sales in Q3 2025 and demonstrated 2.9% traffic growth. Continued focus on expanding and optimizing these channels is expected to contribute to overall revenue growth.
4. Improved Guest Experience and Operational Execution: Efforts to enhance the overall guest experience and improve operational efficiency are expected to translate into increased traffic and repeat business. Initiatives under the "North Star" plan and the Managing Partner Compensation Program have led to improved dine-in guest satisfaction scores, which exceeded casual dining averages in 2024. While operational efficiency primarily impacts profitability by reducing labor costs, the resulting better hospitality and service quality contribute to higher guest satisfaction, thereby indirectly driving revenue through increased customer loyalty and visits.

Share Repurchases

• In 2023, Red Robin repurchased $10.0 million in shares under its share repurchase program.
• The company did not complete any share repurchases in fiscal 2024.
• As of December 29, 2024, Red Robin had $58.5 million remaining under its current share repurchase program, which was originally authorized for a total of $75 million in August 2018.

Share Issuance

• During fiscal years 2022, 2023, and 2024, Red Robin issued time-based restricted stock units (RSUs) to certain participants under its stock plans.
• On December 3, 2024, the company sold 1,600,909 shares of common stock for $5.19 per share, generating $8.3 million in gross proceeds, primarily to JCP Investment Management, LLC and Jumana Capital, LLC.
• On November 10, 2025, Red Robin announced an "at-the-market equity offering" program to sell up to $40 million of its common stock, with proceeds intended for working capital, debt repayment, and general corporate purposes.

Inbound Investments

• On December 3, 2024, JCP Investment Management, LLC and Jumana Capital, LLC collectively purchased 1,600,909 shares of Red Robin's common stock, resulting in $8.3 million in gross proceeds to the company.

Outbound Investments

• In 2020, Red Robin partnered with Donatos®, a pizza brand, to offer Donatos® pizzas within its restaurants.
• The company invested $8.6 million in fiscal 2023 and $6.1 million in fiscal 2022 for the expansion of the Donatos partnership.
• As of December 29, 2024, Donatos® pizzas have been introduced to 269 Red Robin restaurants.

Capital Expenditures

• Capital expenditures for fiscal 2024 were guided to be between $25 million and $30 million.
• Expected capital expenditures for fiscal 2025 are approximately $33 million, an increase reflecting accelerated investment in restaurant refreshes and technology.
• The primary focus of capital expenditures in recent years has been on restaurant refresh and remodel programs, Donatos expansion, menu innovations, and operational efficiency.