Restaurant operations

Biglari Holdings Inc.·Products & Services·13 segments·Rolls up to Total Revenue

Breakdown

Segment	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Restaurant operations	$64.48M	$62.38M	$62.59M	$64.35M	$72.01M	$71.74M	$72.77M	$66.15M
Franchise partner fees	$18.15M	$17.16M	$17.55M	$17.14M	$20.15M	$19.17M	$20.55M	$20.54M
Insurance premiums and other	$17.69M	$18.25M	$19.02M	$19.35M	$18.82M	$19.18M	$19.11M	$18.94M
Oil and gas	$8.67M	$9.57M	$9.19M	$9.93M	$7.5M	$7.37M	$5.41M	$9.14M
Licensing and media	—	—	—	$1.41M	—	—	—	$3.26M
Franchise royalties and fees	$3.62M	$3.44M	$3.1M	$3.49M	$3.13M	$2.9M	$4.07M	$3.13M
Total	$91.14M	$90.41M	$91.12M	$95.04M	$100.62M	$99.74M	$99.87M	$97.48M

Franchise, Advertising, Gift Cards are derived from annual filings.

Restaurant operationsView metric

Insurance premiums and otherView metric

Licensing and mediaView metric

Franchise partner feesView metric

Franchise royalties and feesView metric

Insurance UnderwritingView metric

Investment IncomeView metric