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Dave & Buster's Entertainment (PLAY) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Sep 14, 2026 · Dave & Buster's Entertainment (PLAY) Q2 FY27 earnings results →

Q2 FY27 Revenue down 2% year over year to $544M · 2¢ of every $1 of revenue lost · operating margin 3.6%

Dave & Buster's Entertainment made $544M in Q2 FY27 (-2% Y/Y): Entertainment revenues $333M, Food and beverage revenues $212M. Operating margin 3.6%, net loss $12.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 14, 2026.

Revenue$544M
Year over year-2%
Operating margin3.6%
Net earnings−$12.5M
Operating cash flow$46.8M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $544.1M in Q2 FY27, down 2% year over year and down 3% from the previous quarter. Entertainment was the largest line at 60% of revenue. Entertainment lost $31.4M year over year (down 9%), 236% of the total change.

Operating profit was $19.4M, a 3.6% margin (down 5.9 points year over year). Total costs grew 4% against a revenue fall of 2%. The quarter ended with a net loss of $12.5M, after a profit of $5.7M the previous quarter. Net interest and other expense of $38.0M was the main reason.

Operating cash flow was $46.8M (up 38% year over year). Non-cash charges added back $73.7M of depreciation and amortization and $900K of share-based compensation. Working capital and other items used $15.3M. Capital expenditures of $84.7M exceeded it, leaving free cash flow of −$37.9M.

Quarterly history

Dave & Buster's Entertainment revenue by quarterDave & Buster's Entertainment revenue by quarter$534MQ4 FY25$568MQ1 FY26$557MQ2 FY26$448MQ3 FY26$530MQ4 FY26$559MQ1 FY27$544MQ2 FY27
Dave & Buster's Entertainment net earnings by quarterDave & Buster's Entertainment net earnings by quarter$9.3MQ4 FY25$21.7MQ1 FY26$11.4MQ2 FY26−$42.1MQ3 FY26−$39.7MQ4 FY26$5.7MQ1 FY27−$12.5MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QSep 14, 2026$544M-2%3.6%−$12.5M$46.8M
Q1 FY2710-QJun 15, 2026$559M-2%8.4%$5.7M$114M
Q4 FY2610-KMar 31, 2026$530M-0.9%-2.6%−$39.7M$103M
Q3 FY2610-QDec 9, 2025$448M-1%-3.6%−$42.1M$58.0M
Q2 FY2610-QSep 15, 2025$557M+0.1%9.5%$11.4M$34.0M
Q1 FY2610-QJun 10, 2025$568M-4%11.1%$21.7M$95.8M
Q4 FY2510-KApr 7, 2025$534M-11%8.3%$9.3M$109M

Charts

Dave & Buster's Entertainment: revenue growth, year over year and quarter over quarterDave & Buster's Entertainment: revenue growth, year over year and quarter over quarterY/YQ/Q-11%Q4 FY25-4%+6%Q1 FY26+0%-2%Q2 FY26-1%-20%Q3 FY26-1%+18%Q4 FY26-2%+6%Q1 FY27-2%-3%Q2 FY27
Latest (Q2 FY27): Y/Y -2%, Q/Q -3%.
Dave & Buster's Entertainment: where the cash came from (+) and went (−), TTM to Q2 FY27Dave & Buster's Entertainment: where the cash came from (+) and went (−), TTM to Q2 FY27Capital spending−$338MOperating cash flow$322MOther financing$79.4MNet borrowing (+) / repaid (−)−$57.4MCash drawn (+) / kept (−)−$4.0MTaxes on employees’ shares−$2.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Dave & Buster's Entertainment: profit against cash, quarter by quarterDave & Buster's Entertainment: profit against cash, quarter by quarterNet incomeOperating cash flow−$32.7M−$7.2MQ3 FY25$9.3M$109MQ4 FY25$21.7M$95.8MQ1 FY26$11.4M$34.0MQ2 FY26−$42.1M$58.0MQ3 FY26−$39.7M$103MQ4 FY26$5.7M$114MQ1 FY27−$12.5M$46.8MQ2 FY27
Latest (Q2 FY27): Net income −$12.5M, Operating cash flow $46.8M.
Dave & Buster's Entertainment: diluted shares by fiscal yearDave & Buster's Entertainment: diluted shares by fiscal year44MFY2149MFY2249MFY2344MFY2440MFY2535MFY26
-20.4% since FY21: buybacks shrank the count.
Dave & Buster's Entertainment: long-term debt falling due (FY26)Dave & Buster's Entertainment: long-term debt falling due (FY26)$7.0M2027$7.0M2028$7.0M2029$868M2030$7.0M2031$656MLater
Cash $16.6M, short-term investments —, long-term debt $1.6B at 2026-02-03.
Dave & Buster's Entertainment in its industry: growth against margin (41 companies, SIC 5812)Dave & Buster's Entertainment in its industry: growth against margin (41 companies, SIC 5812)revenue growth, year over year →↑ operating marginmedian +4%median 6%MCDARMKYUMCCMGDRIQSRQSPYUMTXRHEATCAKEBLMNCBRLPZZABJRICAVAFWRGRRGBJACKDINJMKEPTLOWINGSTKSSGNDLSLOCOBH-AKRUSRICKBDLGENKNATHARKRGTIMLVOREBNNROMBTBDBABBPLAY (-2%, 4%)
Retail-Eating Places; dot size is quarterly revenue; dashed lines are the industry's medians.

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About Dave & Buster's Entertainment

Dave & Buster’s Entertainment, Inc. (“D&B Entertainment”) is the owner and operator of 243 venues in North America that offer premier entertainment and dining experiences for both adults and families under the Dave & Buster's and Main Event brands. As of February 3, 2026, the Company had 179 Dave & Buster’s branded stores in 43 states, Puerto Rico, and Canada that offer guests the opportunity to “Eat Drink Play and Watch”, all in one location. Each store offers a full menu of entrées and appetizers, a complete selection of alcoholic and non-alcoholic beverages, and an extensive assortment of entertainment attractions centered around playing games and watching live sports and other televised events. Internationally, the Company is in early-stage growth as a franchisor of the Dave & Buster’s brand, with four franchised locations currently open.

In its own words, from its 10-K, filed Mar 31, 2026.

Dave & Buster's Entertainment against its Retail-Eating Places peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -2% against the peers' median +5%. Operating margin: 3.6% against the peers' median 13.0%.

CompanyQuarterRevenueY/YOp. margin
PLAY Dave & Buster's EntertainmentQ2 FY27$544M-2%3.6%
MCD McDonald'sQ3 2026$7.2B+1%50.2%
ARMK AramarkQ3 FY26$5.1B+9%4.3%
YUMC Yum China HoldingsQ3 2026$3.5B+8%13.0%
CMG Chipotle Mexican GrillQ3 2026$3.3B+10%13.7%
DRI Darden RestaurantsQ1 FY27$3.2B+5%10.0%
QSR Restaurant Brands InternationalQ3 2026$2.5B+3%27.6%
YUM Yum BrandsQ3 2026$2.1B+4%112.8%
TXRH Texas RoadhouseQ3 2026$1.6B+10%6.5%

Source: Dave & Buster's Entertainment 10-Q on SEC EDGAR · CIK 1525769 · Retail-Eating Places

13F: who owns PLAY and who is buying

Largest holders of PLAY (13F)Largest holders of PLAY (13F)Hill Path Capital LP$81.2MVanguard Group$39.8MBlackRock$36.7MNomura Holdings$27.5MGoldman Sachs Group$24.4MArrowstreet Capital, Limited Part…$20.6MHealthcare of Ontario Pension Pla…$16.6MWolf Hill Capital Management, LP$15.5MVanguard Capital Management LLC$13.3MSG Americas Securities, LLC$12.8M
Funds' net buying of PLAY by quarter (13F)Funds' net buying of PLAY by quarter (13F)−$20.6M2024-09$40.3M2024-12−$46.7M2025-03−$162M2025-06$46.9M2025-09−$4.0M2025-12$3.7M2026-03$9.4M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on PLAY

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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