v3.26.1
BUSINESS SEGMENTS
 9 Months Ended
Jun. 28, 2026
Segment Reporting [Abstract]  
BUSINESS SEGMENTS

NOTE 11. BUSINESS SEGMENTS

 

The Company identifies our operating segments to be the individual parks: Georgia Park, Missouri Park and Texas Park and operates in three reportable segments.

 

Management reviews operating results, evaluates performance and makes operating decisions, including allocating resources, on a park-by-park basis. Discrete financial information and operating results are prepared at the individual park level for use by the President and Chief Executive Officer, who is the Chief Operating Decision Maker (“CODM”) of the Company. The CODM uses segment operating income/(loss), defined as park earnings before interest, taxes, depreciation and amortization, and free cash flow as the reportable segment profitability measure to assess performance and allocate resources.

 

Significant segment expenses are expenses which are regularly provided to the CODM and are included in segment operating income/(loss). These consist of segment cost of animal food, merchandise and food, other revenue driven costs, personnel costs, advertising and marketing and all other segment expenses. Segment cost of sales includes cost of animal feed and cost of gift shop merchandise, food and concessions. Other revenue driven costs include credit card fees and other revenue processing fees. Personnel costs include fixed and variable wages, benefits costs and employer payroll taxes. Other segment expenses include animal expenses, park and vehicle maintenance expenses, insurance, utilities, outside services, operating supplies and other miscellaneous expenses. The Company does not allocate corporate expenses to our segments.

 

The following tables set forth, for the periods indicated, certain segment information for the Company’s reportable segments:

  

             
   For the 13 weeks ended June 28, 2026 
   Georgia Park   Missouri Park   Texas Park   Consolidated 
Total revenue  $2,002,395   $848,357   $648,551   $3,499,303 
Less significant expense categories (1):                    
Cost of animal food, merchandise and food    319,342    94,850    67,458    481,650 
Other revenue driven costs (2)   43,090    29,456    19,602    92,148 
Personnel costs (3)   406,635    259,093    154,120    819,848 
Advertising and marketing   67,162    51,150    70,739    189,051 
Other segment expenses (4)   272,487    104,729    112,498    489,714 
Segment income  $893,679   $309,079   $224,134   $1,426,892 
Segment operating income as percentage of total revenue   44.6%   36.4%   34.6%   40.8%

 

             
   For the 13 weeks ended June 29, 2025 
   Georgia Park   Missouri Park   Texas Park   Consolidated 
Total revenue  $1,999,462   $656,191   $820,267   $3,475,920 
Less significant expense categories (1):                    
Cost of animal food, merchandise and food    231,046    70,071    100,729    401,846 
Other revenue driven costs (2)   40,946    12,848    15,462    69,256 
Personnel costs (3)   381,265    196,445    169,849    747,559 
Advertising and marketing   91,284    68,690    91,555    251,529 
Other segment expenses (4)   266,251    91,388    109,141    466,780 
Segment income  $988,670   $216,749   $333,531   $1,538,950 
Segment operating income as percentage of total revenue   49.4%   33.0%   40.7%   44.3%

 

(1) The significant expense categories and amounts align with the segment -level information that is regularly provided to the CODM.
(2) Other revenue driven costs include credit card fees and other revenue processing costs driven by sales volume.
(3) Personnel costs include fixed and variable wages, benefits and employer taxes.
(4) Other segment expenses include all other operating expenses, including animal expenses, park and vehicle maintenance expenses, insurance, utilities, outside services, operating supplies and other miscellaneous expenses.

 

 

PARKS! AMERICA, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

 

NOTE 11. BUSINESS SEGMENTS (CONTINUED)

 

             
   For the 39 weeks ended June 28, 2026 
   Georgia Park   Missouri Park   Texas Park   Consolidated 
Total revenue  $4,327,555   $1,678,587   $1,882,906   $7,889,048 
Less significant expense categories (1):                    
Cost of animal food, merchandise and food    619,144    186,049    252,067    1,057,260 
Other revenue driven costs (2)   95,472    53,271    52,047    200,790 
Personnel costs (3)   1,093,093    648,766    458,836    2,200,695 
Advertising and marketing   249,736    179,635    241,467    670,838 
Other segment expenses (4)   809,533    304,076    316,913    1,430,522 
Segment income  $1,460,577   $306,790   $561,576   $2,328,943 
Segment operating income as percentage of total revenue   33.8%   18.3%   29.8%   29.5%

 

             
   For the 39 weeks ended June 29, 2025 
   Georgia Park   Missouri Park   Texas Park   Consolidated 
Total revenue  $4,156,567   $1,320,280   $1,771,552   $7,248,399 
Less significant expense categories (1):                    
Cost of animal food, merchandise and food    548,029    154,103    266,375    968,507 
Other revenue driven costs (2)   83,191    25,759    34,875    143,825 
Personnel costs (3)   1,000,819    524,466    528,620    2,053,905 
Advertising and marketing   217,519    154,713    238,471    610,703 
Other segment expenses (4)   835,851    286,912    354,606    1,477,369 
Segment income  $1,471,158   $174,327   $348,605   $1,994,090 
Segment operating income as percentage of total revenue   35.4%   13.2%   19.7%   27.5%

 

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(2) Other revenue driven costs include credit card fees and other revenue processing costs driven by sales volume.
(3) Personnel costs include fixed and variable wages, benefits and employer taxes.
(4) Other segment expenses include all other operating expenses, including animal expenses, park and vehicle maintenance expenses, insurance, utilities, outside services, operating supplies and other miscellaneous expenses.

 

The table below sets forth, for the periods indicated, a reconciliation of reporting Consolidated segment income to Income before income taxes:

 SCHEDULE OF RECONCILIATION OF REPORTING SEGMENT INCOME TO INCOME BEFORE INCOME TAXES 

             
   For the 13 weeks ended   For the 39 weeks ended 
   June 28, 2026   June 29, 2025   June 28, 2026   June 29, 2025 
Consolidated segment income  $1,426,892   $1,538,950   $2,328,943   $1,994,090 
Less:                    
Unallocated corporate expenses (1)   247,637    277,876    685,802    849,711 
Depreciation and amortization   220,799    230,756    648,051    659,619 
Contested proxy and related matters, net   —    (103,657)   —    (670,814)
Other operating expense (income), net   —    13,750    (3,799)   13,698 
Other (income), net   (17,454)   (18,345)   (59,331)   (57,050)
Interest expense   45,292    53,970    139,903    166,148 
Income before income taxes  $930,618   $1,084,599   $918,317   $1,032,778 

 

(1) Unallocated corporate expenses include corporate personnel costs, director fees and compensation, directors and officers insurance, computer software and services, professional fees and public company related expenses.

 

 

PARKS! AMERICA, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

 

NOTE 11. BUSINESS SEGMENTS (CONTINUED)

 

Additional Segment Data

  

             
   For the 13 weeks ended   For the 39 weeks ended 
   June 28, 2026   June 29, 2025   June 28, 2026   June 29, 2025 
Depreciation and amortization                    
Georgia Park  $109,438   $106,876   $319,043   $295,124 
Missouri Park   51,718    55,332    152,860    163,413 
Texas Park   59,228    68,134    174,903    199,840 
Corporate   415    414    1,245    1,242 
Total depreciation and amortization  $220,799   $230,756   $648,051   $659,619 

 

             
   For the 13 weeks ended   For the 39 weeks ended 
   June 28, 2026   June 29, 2025   June 28, 2026   June 29, 2025 
Capital expenditures                    
Georgia Park  $45,010   $65,100   $384,398   $1,003,894 
Missouri Park   43,451    30,364    90,535    63,887 
Texas Park   25,332    —    70,693    114,068 
Total capital expenditures  $113,793   $95,464   $545,626   $1,181,849 

 

       
   As of 
   June 28, 2026   September 28, 2025 
Assets        
Georgia Park  $7,815,359   $8,043,972 
Missouri Park   3,560,214    3,299,882 
Texas Park   8,414,466    8,135,982 
Corporate   91,313    19,606 
Total assets  $19,881,352   $19,499,442