Driven Brands Holdings Inc. (DBHI) has returned to a regular reporting schedule for its second quarter 2026 financial results, executives said in an Aug. 6 investor call. DBHI is the parent company of Auto Glass Now (AGN).
In addition to AGN, DBHI operates Take 5 Oil Change, Meineke Car Care Centers, MAACO, 1-800-Radiator & A/C, ABRA Auto Body and CARSTAR. DBHI’s AGN segment incorporates all of its auto glass financials, including DBHI’s third-party administrator, Driven Claims.
DBHI’s 2025 fourth-quarter and full-year financial results, as well as its first-quarter 2026 results, were delayed due to a financial restatement to correct prior reporting errors.
In the restatement report released in May 2026, executives said that “[many of the errors] occurred in 2023, 2022 and prior, when DBHI had just expanded into the auto glass and car wash sectors.”
Second Quarter Report
DBHI’s second-quarter 2026 financial report, released the morning of Aug. 6, says its AGN segment delivered approximately $72.9 million in revenue, with $72.7 million of that from system-wide sales. The report says AGN’s system-wide increased approximately 2% from its restated second quarter 2025 sales.
As a whole, DBHI listed $507.4 million in revenue, a year-over-year increase of less than 7%. The report also disclosed approximately $11.8 million in restatement costs.
Talking to Investors
Executive vice president and chief financial officer (CFO) Mike Diamond said on the investor call that DBHI is “pleased to return to a regular reporting cadence.” He noted that the restatement costs were not recurring and therefore “not likely to affect [financial results] going forward.”
When an investor asked why AGN’s earnings before interest, taxes, depreciation and amortization (EBITDA) were “lower than expected,” Diamond said it was due to restatement costs and a one-time expense.
“As we work through remediation, DBHI is committed to doing things right and being transparent,” Diamond said. “That’s why we mentioned the restatement costs.”
DBHI’s second-quarter 2026 statement reported EBITDA of $3.5 million for the AGN segment, a 65% year-over-year decrease.
President and CEO Danny Rivera told investors that its AGN segment is “still incubating,” but that “DBHI has scaled AGN to the second largest [auto glass company] in the country” since its acquisition in 2021.
“The auto glass industry is large, fragmented and growing,” Rivera said.
An Unsolicited Proposal
DBHI released a statement on Aug. 3 announcing it had rejected an offer from ADW Capital Management. The investment group issued a public letter announcing its desire to purchase DBHI at a rate of $18 per share on April 30.
“[DBHI’s] board of directors has unanimously rejected ADW Capital Management’s non-binding, highly conditional and unsolicited proposal to acquire Driven Brands,” says DBHI’s statement.
According to the statement, the board “carefully reviewed and evaluated” the proposal and unanimously decided it was “highly conditional and does not provide a credible basis on which the company could proceed.”
The board also concluded that the proposal undervalued DBHI shares and that the board remains confident in its financial strategy and “long-term value creation opportunities.”
Rivera reiterated this information when an investor asked about the rejection during the Aug. 6 investor call.
