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Papa John's International PZZA Customer loyalty program obligations — Change

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Other financials

Income statement

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Revenue$482.4M-8.8%
Gross profit$143.4M-8.9%
Operating income$23.2M-5.3%
Net income$8.5M-10.5%
EPS (diluted)$0.24-14.3%

Balance sheet

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Cash & equivalents$28.5M-14.4%
Total debt$935.5M-3.2%
Total equity-$453.1M-4.9%
Total assets$805.0M-9.6%

Cash flow

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Operating cash flow$28.6M-19.4%
CapEx$12.9M-28.6%
Free cash flow$15.7M-9.9%

Valuation

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Market cap$811.19M-44.3%
Enterprise value$1.72B-28.0%
P/E29.4×+10.1×
P/S0.4×-0.3×

Profitability

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Gross margin28.7%0.0pp
Operating margin4.3%-2.6pp
Net margin1.4%-2.2pp
FCF margin1.7%

Returns & leverage

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Return on equity131.1%
Debt / equity33.6×
Current ratio0.8×0.0×

Where this comes from

Reported directly by Papa John's International in its filing.

Tagged under the XBRL concept pzza:ContractWithCustomerLiabilityIncreaseDecrease.

The source filing: Papa John's International’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 7:05 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-053823
(In thousands)June 28, 2026December 28, 2025Change
Unearned franchise fees and royalties$18,292$19,678$(1,386)
Unredeemed gift card liabilities6,4477,742(1,295)
Customer loyalty program obligations1,6814,970(3,289)
Total contract liabilities$26,420$32,390$(5,970)

Item 1. Financial Statements

FAQ

What is Papa John's International's customer loyalty program obligations — change?
Papa John's International (PZZA) reported customer loyalty program obligations — change of -$1.5M in Q2 2026.
How has Papa John's International's customer loyalty program obligations — change changed year-over-year?
Papa John's International's customer loyalty program obligations — change decreased by 525.9% year-over-year, from -$239K to -$1.5M.
What is the long-term trend for Papa John's International's customer loyalty program obligations — change?
Over 2 years (2022 to 2025), Papa John's International's customer loyalty program obligations — change has grown at a 29.1% compound annual growth rate (CAGR), from -$1.37M to -$2.28M.
What does customer loyalty program obligations — change mean?
This metric measures the net period-over-period fluctuation in the deferred revenue liability associated with a customer loyalty program. A decrease typically indicates that customers are redeeming rewards at a faster rate than they are earning new points, while an increase suggests growing program participation or a buildup of unredeemed rewards. It serves as a key indicator of loyalty program velocity and shifts in customer redemption behavior.

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