BBW

MKT CAP:$498M

Build-A-Bear Workshop, Inc.

Market Cap

$498M

Consumer Cyclical·Specialty Retail·🇺🇸 United States·NYSE

Consumer Cyc.·Specialty Retail·🇺🇸·NYSE

Stock Price

$37.81-$23.19 (-38.02%)

Apr 23, 2026

Company Details

Build-A-Bear Workshop, Inc. operates as a multi-channel retailer of plush animals and related products. The company operates through three segments: Direct-to-Consumer, Commercial, and International Franchising. Its merchandise comprises va...

CEO

Sharon Price John

IPO Date

Oct 28, 2004

Website

www.buildabear.com

Key Metrics TTM

Revenue

$530M

+6.7% YoY

Net Income

$52M

EPS (Diluted)

$3.99

Free Cash Flow

$37M

Revenue / Share

$40.50

Gross Margin

55.8%

Operating Margin

12.5%

Net Margin

9.9%

FCF Margin

7.0%

P/S

0.9x

P/E

9.5x

Earnings Reports

FY 2025

Mar 12, 2026

$530M+6.7%EPS $3.99

Q4 2025

Mar 12, 2026

$155M+2.7%EPS $1.26

Q3 2025

Dec 11, 2025

$123M+2.7%EPS $0.62

Q2 2025

Sep 11, 2025

$124M+11.1%EPS $0.94

Q1 2025

Jun 12, 2025

$128M+11.9%EPS $1.17

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$118M	$62M	$15M
Q2 22	$101M	$50M	$5M
Q3 22	$104M	$54M	$10M
Q4 22	$145M	$80M	$26M
Q1 23	$120M	$65M	$19M
Q2 23	$109M	$59M	$10M
Q3 23	$108M	$57M	$10M
Q4 23	$149M	$84M	$26M
Q1 24	$115M	$62M	$15M
Q2 24	$112M	$61M	$11M
Q3 24	$119M	$65M	$13M
Q4 24	$150M	$85M	$27M
Q1 25	$128M	$73M	$19M
Q2 25	$124M	$72M	$15M
Q3 25	$123M	$66M	$11M
Q4 25	$155M	$85M	$21M

Valuation

Quarter	P/S	P/E
Q1 22	0.7x	5.8x
Q2 22	0.5x	4.7x
Q3 22	0.6x	4.9x
Q4 22	0.7x	7.1x
Q1 23	0.7x	6.9x
Q2 23	0.7x	6.9x
Q3 23	0.7x	6.8x
Q4 23	0.7x	6.0x
Q1 24	0.8x	8.2x
Q2 24	0.7x	6.9x
Q3 24	1.0x	9.9x
Q4 24	1.1x	10.3x
Q1 25	0.9x	8.6x
Q2 25	1.3x	11.2x
Q3 25	1.3x	12.1x
Q4 25	1.5x	14.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$11M	$7M
Q1 22	$4M	$3M
Q2 22	$2M	-$771.0K
Q3 22	$5M	$2M
Q4 22	$36M	$29M
Q1 23	$19M	$16M
Q2 23	$13M	$10M
Q3 23	$927.0K	-$4M
Q4 23	$32M	$24M
Q1 24	$10M	$8M
Q2 24	$2M	-$1M
Q3 24	$15M	$11M
Q4 24	$20M	$10M
Q1 25	$28M	$25M
Q2 25	$4M	$793.0K
Q3 25	$8M	$2M

Capital Expenditures

Quarter	CapEx
Q4 21	$3M
Q1 22	$1M
Q2 22	$3M
Q3 22	$3M
Q4 22	$7M
Q1 23	$3M
Q2 23	$3M
Q3 23	$5M
Q4 23	$7M
Q1 24	$2M
Q2 24	$3M
Q3 24	$4M
Q4 24	$10M
Q1 25	$3M
Q2 25	$3M
Q3 25	$7M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+28.3%	+30.8%
Q2 22	+6.3%	+12.7%
Q3 22	+9.8%	+8.4%
Q4 22	+11.7%	+8.3%
Q1 23	+2.0%	-1.9%
Q2 23	+8.5%	+3.0%
Q3 23	+2.9%	+3.1%
Q4 23	+2.9%	+3.9%
Q1 24	-4.4%	-0.6%
Q2 24	+2.4%	+1.5%
Q3 24	+11.0%	+9.2%
Q4 24	+0.8%	-0.4%
Q1 25	+11.9%	+8.8%
Q2 25	+11.1%	+8.7%
Q3 25	+2.7%	+5.4%
Q4 25	+2.7%	+8.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$534.0K	—
Q1 22	$689.0K	0.6%
Q2 22	$603.0K	0.6%
Q3 22	$632.0K	0.6%
Q4 22	$635.0K	—
Q1 23	$1M	0.9%
Q2 23	$703.0K	0.6%
Q3 23	$737.0K	0.7%
Q4 23	-$403.0K	—
Q1 24	$412.0K	0.4%
Q2 24	$623.0K	0.6%
Q3 24	$700.0K	0.6%
Q4 24	$481.0K	—
Q1 25	$2M	1.2%
Q2 25	-$374.0K	-0.3%
Q3 25	$1M	0.8%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q1 22	—	—	$44M
Q2 22	—	—	$42M
Q3 22	—	—	$44M
Q4 22	—	—	$54M
Q1 23	—	—	$46M
Q2 23	—	—	$48M
Q3 23	—	—	$47M
Q4 23	$34M	$24M	—
Q1 24	—	—	$48M
Q2 24	—	—	$49M
Q3 24	—	—	$52M
Q4 24	—	—	$58M
Q1 25	—	—	$54M
Q2 25	—	—	$56M
Q3 25	—	—	$55M
Q4 25	—	—	$64M

Revenue Segments

Quarter	Commercial Product and Service	International Franchising	Retail
Q1 22	$4M	$486.0K	$113M
Q2 22	$4M	$749.0K	$96M
Q3 22	$4M	$1M	$99M
Q4 22	$6M	$871.0K	$138M
Q1 23	$7M	—	$112M
Q2 23	$5M	—	$103M
Q3 23	$6M	—	$100M
Q4 23	$8M	—	$140M
Q1 24	$6M	—	$108M
Q2 24	$7M	—	$103M
Q3 24	$9M	—	$110M
Q4 24	$10M	—	$139M
Q2 25	$9M	—	$115M

Revenue by Geography

Quarter	Europe	North America	Other Geographic Region
Q1 22	$14M	$103M	$493.0K
Q2 22	$11M	$89M	$760.0K
Q3 22	$13M	$91M	$1M
Q4 22	$18M	$126M	$835.0K
Q1 23	$13M	$107M	$528.0K
Q2 23	$11M	$97M	$762.0K
Q3 23	$13M	$93M	$1M
Q4 23	$19M	$129M	$1M
Q1 24	$14M	$99M	$830.0K
Q2 24	$14M	$97M	$1M
Q3 24	$16M	$101M	$3M
Q4 24	$21M	$128M	$2M
Q2 25	$16M	$107M	$1M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$26M	$0	$26M
Q2 22	$14M	$0	$14M
Q3 22	$12M	$0	$12M
Q4 22	$42M	$0	$42M
Q1 23	$33M	$0	$33M
Q2 23	$33M	$0	$33M
Q3 23	$25M	$0	$25M
Q4 23	$44M	$0	$44M
Q1 24	$38M	$0	$38M
Q2 24	$25M	$0	$25M
Q3 24	$29M	$0	$29M
Q4 24	$28M	$0	$28M
Q1 25	$44M	$0	$44M
Q2 25	$39M	$0	$39M
Q3 25	$28M	$0	$28M
Q4 25	$27M	$0	$27M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	16M	-2.0%	+1.3%
Q2 22	16M	-2.7%	-3.6%
Q3 22	15M	-5.0%	-9.1%
Q4 22	15M	+0.0%	-9.4%
Q1 23	15M	+1.4%	-6.2%
Q2 23	15M	-3.2%	-6.7%
Q3 23	14M	-0.4%	-2.2%
Q4 23	14M	-1.5%	-3.7%
Q1 24	14M	-1.5%	-6.5%
Q2 24	14M	-2.3%	-5.6%
Q3 24	13M	-1.6%	-6.8%
Q4 24	13M	-0.8%	-6.1%
Q1 25	13M	-1.6%	-6.2%
Q2 25	13M	-0.0%	-4.0%
Q3 25	13M	-0.7%	-3.0%
Q4 25	13M	+0.2%	-2.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$117.7K	1K
Q2 22	$100.7K	1K
Q3 22	$104.5K	1K
Q4 22	$145.1K	1K
Q1 23	$120.0K	1K
Q2 23	$109.2K	1K
Q3 23	$107.6K	1K
Q4 23	$149.3K	1K
Q1 24	$114.7K	1K
Q2 24	$111.8K	1K
Q3 24	$119.4K	1K
Q4 24	$150.4K	1K
Q1 25	$128.4K	1K
Q2 25	$124.2K	1K
Q3 25	$122.7K	1K
Q4 25	$154.5K	1K

Revenue / Employee