Mother's Comfort Food and Cocktails opens in Park Road Shopping Center
Why it matters: Serving breakfast, lunch and dinner all day, its massive 130-item menu has something for everyone, even your pups, which are welcome on its outdoor patio.
Dig in: Its menu features giant portions to match, made to share and have enough to take home. They also offer daily specials, including:
"Steak Sunday," where you can get a rib eye for $24.99 after 2pm.
Martinis are $10 on "Martini Mondays," and Old Fashioned drinks are $10 on "Old Fashioned Friday."
"Where's my wife Wednesday" features half-off wine and $11.99 pasta.
Kids 12 and under eat free on Thursdays.
Context: This is the first East Coast location for the California-based restaurant known as "Mama's" on the West Coast.
Co-owner and founder Pete Truxaw has over 40 years of restaurant experience and opened the first Mama's Comfort Food and Cocktails after the Great Recession in Huntington Beach, California. The idea was to offer big portions so you could go home with leftovers. "It's like your mother's house," he tells Axios.
Truxaw recently moved to Charlotte as part of the restaurant's expansion. "If you want to open a business in a community, you have to be a part of it," he said.
Between the lines: Over the last 15 years, Mama's has raised over $1 million for organizations in its surrounding communities, and Truxaw hopes to bring the same philanthropic spirit to Charlotte.
Mother's has chosen two outstanding charities to support: Isabella Santos Foundation and Go Jen Go.
$0.25 from every scoop of Gifford's premium ice cream will go toward the Isabella Santos Foundation, helping fund research and provide support to families affected by rare pediatric cancers. Plus,
$1 from each order of the "Go Jen Go" Garden Scramble will benefit the nonprofit, which provides financial assistance to people in the Charlotte area battling breast cancer.
Stop by: 4101 Park Road, in the former Cantina 1511 spot.
Open 8:30am-10pm daily.
What's next: Mother's will open a second East Coast location in Greenville, S.C., next year.
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CONDENSED CONSOLIDATED BALANCE SHEETS (In millions) (Unaudited) July 26,2025July 27,2024 ASSETSCurrent assets:Cash and cash equivalents $ 8,346$ 7,508 Investments 7,76410,346 Accounts receivable, net of allowance of $69 at July 26, 2025 and $87 at July 27, 2024 6,7016,685 Inventories 3,0953,373 Financing receivables, net 3,0613,338 Other current assets 6,3745,612 Total current assets 35,34136,862 Property and equipment, net 2,1132,090 Financing receivables, net 3,4663,376 Goodwill 59,13658,660 Purchased intangible assets, net 9,17511,219 Deferred tax assets 7,2746,262 Other assets 6,0595,944 TOTAL ASSETS $ 122,564$ 124,413 LIABILITIES AND EQUITYCurrent liabilities:Short-term debt $ 5,232$ 11,341 Accounts payable 2,5282,304 Income taxes payable 1,8571,439 Accrued compensation 3,6113,608 Deferred revenue 16,41616,249 Other current liabilities 5,4205,643 Total current liabilities 35,06440,584 Long-term debt 22,86119,621 Income taxes payable 2,1653,985 Deferred revenue 12,36312,226 Other long-term liabilities 2,9952,540 Total liabilities 75,44878,956 Total equity 47,11645,457 TOTAL LIABILITIES AND EQUITY $ 122,564$ 124,413 CISCO SYSTEMS, INC. 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RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES GROSS MARGINS, OPERATING EXPENSES, OPERATING MARGINS, INTEREST AND OTHER INCOME (LOSS), NET, AND NET INCOME (In millions, except percentages) Three Months EndedJuly 26, 2025ProductGrossMarginServicesGrossMarginTotalGrossMarginOperatingExpensesY/YOperatingIncomeY/YInterestandotherincome(loss),netNetIncomeY/Y GAAP amount $ 7,047$ 2,588$ 9,635$ 6,193— %$ 3,44232 %$ (88)$ 2,82331 % % of revenue 64.7 %68.3 %65.7 %42.2 %23.5 %(0.6) %19.2 % Adjustments to GAAP amounts:Share-based compensation expense 6684150797947—947 Amortization of acquisition-related intangible assets 233—233255488—488 Acquisition/divestiture-related costs 21113104117—117 Significant asset impairments and restructurings ———3535—35 (Gains) and losses on investments —————(115)(115) Income tax effect/significant tax matters ——————(344) Non-GAAP amount $ 7,348$ 2,683$ 10,031$ 5,0024 %$ 5,02913 %$ (203)$ 3,95112 % % of revenue 67.5 %70.8 %68.4 %34.1 %34.3 %(1.4) %26.9 % Three Months EndedJuly 27, 2024ProductGrossMarginServicesGrossMarginTotalGrossMarginOperatingExpensesOperating IncomeInterestandotherincome(loss),netNet Income GAAP amount $ 6,214$ 2,567$ 8,781$ 6,163$ 2,618$ (222)$ 2,162 % of revenue 63.0 %67.8 %64.4 %45.2 %19.2 %(1.6) %15.8 % Adjustments to GAAP amounts:Share-based compensation expense 5776133660793—793 Amortization of acquisition-related intangible assets 331—331268599—599 Acquisition/divestiture-related costs 51621297318—318 Russia-Ukraine war costs —————4949 Significant asset impairments and restructurings ———112112—112 (Gains) and losses on investments —————(32)(32) Income tax effect/significant tax matters ——————(470) Non-GAAP amount $ 6,607$ 2,659$ 9,266$ 4,826$ 4,440$ (205)$ 3,531 % of revenue 67.0 %70.3 %67.9 %35.4 %32.5 %(1.5) %25.9 % Amounts may not sum and percentages may not recalculate due to rounding. CISCO SYSTEMS, INC. RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES GROSS MARGINS, OPERATING EXPENSES, OPERATING MARGINS, INTEREST AND OTHER INCOME (LOSS), NET, AND NET INCOME (In millions, except percentages) Fiscal Year EndedJuly 26, 2025ProductGrossMarginServicesGrossMarginTotalGrossMarginOperatingExpensesY/YOperatingIncomeY/YInterestandotherincome(loss),netNetIncomeY/Y GAAP amount $ 26,842$ 10,303$ 37,145$ 25,03011 %$ 12,115(1) %$ (660)$ 10,4531 % % of revenue 64.5 %68.5 %65.6 %44.2 %21.4 %(1.2) %18.5 % Adjustments to GAAP amounts:Share-based compensation expense 2553295843,0193,603—3,603 Amortization of acquisition-related intangible assets 1,150—1,1501,0292,179—2,179 Acquisition/divestiture-related costs 145266791857—857 Supplier component remediation charge (adjustment) (7)—(7)—(7)—(7) Significant asset impairments and restructurings ———744744—744 (Gains) and losses on investments —————(187)(187) Income tax effect/significant tax matters ——————(2,429) Non-GAAP amount $ 28,254$ 10,684$ 38,938$ 19,4478 %$ 19,4916 %$ (847)$ 15,213— % % of revenue 67.9 %71.0 %68.7 %34.3 %34.4 %(1.5) %26.9 % Fiscal Year EndedJuly 27, 2024ProductGrossMarginServicesGrossMarginTotalGrossMarginOperatingExpensesOperating IncomeInterestandotherincome(loss),netNet Income GAAP amount $ 24,914$ 9,914$ 34,828$ 22,647$ 12,181$ 53$ 10,320 % of revenue 63.5 %68.1 %64.7 %42.1 %22.6 %0.1 %19.2 % Adjustments to GAAP amounts:Share-based compensation expense 2143005142,5373,051—3,051 Amortization of acquisition-related intangible assets 936—9366981,634—1,634 Acquisition/divestiture-related costs 102434700734—734 Russia-Ukraine war costs ———(12)(12)4937 Significant asset impairments and restructurings ———789789—789 (Gains) and losses on investments —————100100 Income tax effect/significant tax matters ——————(1,515) Non-GAAP amount $ 26,074$ 10,238$ 36,312$ 17,935$ 18,377$ 202$ 15,150 % of revenue 66.4 %70.4 %67.5 %33.3 %34.2 %0.4 %28.2 % Amounts may not sum and percentages may not recalculate due to rounding. CISCO SYSTEMS, INC. RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES EFFECTIVE TAX RATE (In percentages) Three Months EndedFiscal Year EndedJuly 26,2025July 27,2024July 26, 2025July 27,2024 GAAP effective tax rate 15.8 %9.8 %8.7 %15.6 % Total adjustments to GAAP provision for income taxes 2.3 %6.8 %9.7 %2.9 % Non-GAAP effective tax rate 18.1 %16.6 %18.4 %18.5 % GAAP TO NON-GAAP GUIDANCEQ1 FY 2026Gross MarginOperating MarginEarnings perShare (1) GAAP 65% - 66%21.5% - 22.5%$0.63 - $0.68 Estimated adjustments for: Share-based compensation expense1.0 %6.5 %$0.18 - $0.19 Amortization of acquisition-related intangible assets and acquisition/divestiture-related costs1.5 %4.0 %$0.11 - $0.12 Significant asset impairments and restructurings (2)—1.0 %$0.02 - $0.03 Non-GAAP67.5% - 68.5%33% - 34%$0.97 - $0.99 FY 2026Earnings perShare (1) GAAP $2.79 - $2.91 Estimated adjustments for: Share-based compensation expense$0.69 - $0.71 Amortization of acquisition-related intangible assets and acquisition/divestiture-related costs$0.43 - $0.45 Significant asset impairments and restructurings (2)$0.03 - $0.05 Non-GAAP$4.00 - $4.06 (1) Estimated adjustments to GAAP earnings per share are shown after income tax effects. (2) Reflects charges related to a restructuring plan announced on August 14, 2024. We expect this plan to be substantially completed by the end of the second quarter of fiscal 2026. Margin and EPS guidance includes the estimated impact of tariffs based on current trade policy. Except as noted above, this guidance does not include the effects of any future acquisitions/divestitures, significant asset impairments and restructurings, significant litigation settlements and other contingencies, gains and losses on investments, significant tax matters, or other items, which may or may not be significant. Forward Looking Statements, Non-GAAP Information and Additional Information This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events (such as the massive opportunity ahead as we lead the required architectural shift and building the critical infrastructure needed for the AI era, and our focus on making strategic investments in innovation, driving durable, profitable growth and delivering shareholder value) and the future financial performance of Cisco (including the guidance for Q1 FY 2026 and full year FY 2026) that involve risks and uncertainties, such as the actual impact of tariffs on our guidance for Q1 FY 2026 and full year FY 2026. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: business and economic conditions and growth trends in the networking industry, our customer markets and various geographic regions; global economic conditions and uncertainties in the geopolitical environment; our development and use of artificial intelligence; overall information technology spending; the growth and evolution of the Internet and levels of capital spending on Internet-based systems; variations in customer demand for products and services, including sales to the service provider market, cloud, enterprise and other customer markets; the return on our investments in certain key priority areas, and in certain geographical locations, as well as maintaining leadership in Networking and services; the timing of orders and manufacturing and customer lead times; supply constraints; changes in customer order patterns or customer mix; insufficient, excess or obsolete inventory; variability of component costs; variations in sales channels, product costs or mix of products sold; our ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; our ability to achieve expected benefits of our partnerships; increased competition in our product and services markets, including the data center market; dependence on the introduction and market acceptance of new product offerings and standards; rapid technological and market change; manufacturing and sourcing risks; product defects and returns; litigation involving patents, other intellectual property, antitrust, stockholder and other matters, and governmental investigations; our ability to achieve the benefits of restructurings and possible changes in the size and timing of related charges; cyber attacks, data breaches or other incidents; vulnerabilities and critical security defects; our ability to protect personal data; evolving regulatory uncertainty; terrorism; natural catastrophic events (including as a result of global climate change); any pandemic or epidemic; our ability to achieve the benefits anticipated from our investments in sales, engineering, service, marketing and manufacturing activities; our ability to recruit and retain key personnel; our ability to manage financial risk, and to manage expenses during economic downturns; risks related to the global nature of our operations, including our operations in emerging markets; currency fluctuations and other international factors; changes in provision for income taxes, including changes in tax laws and regulations or adverse outcomes resulting from examinations of our income tax returns; potential volatility in operating results; and other factors listed in Cisco's most recent reports on Forms 10-Q and 10-K filed on May 20, 2025 and September 5, 2024, respectively. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in Cisco's most recent reports on Forms 10-Q and 10-K as each may be amended from time to time. Cisco's results of operations for the three months and the year ended July 26, 2025 are not necessarily indicative of Cisco's operating results for any future periods. Any projections in this release are based on limited information currently available to Cisco, which is subject to change. Although any such projections and the factors influencing them will likely change, Cisco will not necessarily update the information, since Cisco will only provide guidance at certain points during the year. Such information speaks only as of the date of this release. This release includes non-GAAP net income, non-GAAP gross margins, non-GAAP operating expenses, non-GAAP operating income and margin, non-GAAP effective tax rates, non-GAAP interest and other income (loss), net, and non-GAAP net income per share data for the periods presented. It also includes future estimated ranges for gross margin, operating margin, tax provision rate and EPS on a non-GAAP basis. These non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles (GAAP) and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Cisco believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Cisco's results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Cisco's results of operations in conjunction with the corresponding GAAP measures. Cisco believes that the presentation of non-GAAP measures when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and its historical and projected results of operations. For its internal budgeting process, Cisco's management uses financial statements that do not include, when applicable, share-based compensation expense, amortization of acquisition-related intangible assets, acquisition/divestiture-related costs, significant asset impairments and restructurings, significant litigation settlements and other contingencies, Russia-Ukraine war costs, gains and losses on investments, the income tax effects of the foregoing and significant tax matters. Cisco's management also uses the foregoing non-GAAP measures, in addition to the corresponding GAAP measures, in reviewing the financial results of Cisco. In prior periods, Cisco has excluded other items that it no longer excludes for purposes of its non-GAAP financial measures. From time to time in the future there may be other items that Cisco may exclude for purposes of its internal budgeting process and in reviewing its financial results. For additional information on the items excluded by Cisco from one or more of its non-GAAP financial measures, refer to the Form 8-K regarding this release furnished today to the Securities and Exchange Commission. About Cisco Cisco (NASDAQ: CSCO) is the worldwide technology leader that is revolutionizing the way organizations connect and protect in the AI era. For more than 40 years, Cisco has securely connected the world. With its industry leading AI-powered solutions and services, Cisco enables its customers, partners and communities to unlock innovation, enhance productivity and strengthen digital resilience. With purpose at its core, Cisco remains committed to creating a more connected and inclusive future for all. Discover more on The Newsroom and follow us on X at @Cisco. Copyright © 2025 Cisco and/or its affiliates. All rights reserved. Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. To view a list of Cisco trademarks, go to: Third-party trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. This document is Cisco Public Information. RSS Feed for Cisco: View original content to download multimedia: SOURCE Cisco Systems, Inc.
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Cisco forecasts higher-than-expected quarterly revenue on increased demand
(Reuters) -Cisco Systems forecast first-quarter revenue above Wall Street estimates on Wednesday, as the artificial intelligence boom boosted demand for its networking equipment from cloud customers. Enterprises such as Cisco have been benefiting as more businesses move workloads to cloud environments and modernize campus footprints to prepare for AI technologies. "The AI infrastructure orders we received from webscale customers in fiscal 2025 were more than double our original target, indicating a massive opportunity ahead as we lead the required architectural shift and build the critical infrastructure needed for the AI era," CEO Chuck Robbins said. The company expects its revenue to be between $14.65 billion and $14.85 billion during the first quarter, compared with analysts' average estimate of $14.62 billion, according to data compiled by LSEG. Its revenue for the fourth quarter ended July 26 came in at $14.67 billion, compared with estimates of $14.62 billion. Sign in to access your portfolio
