Arko Corp. (ARKO): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de las operaciones de tiendas minoristas y de conveniencia de combustible, Arko Corp. (ARKO) se destaca como una potencia estratégica, transformando la experiencia tradicional de la estación de servicio en un modelo de negocio integral y centrado en el cliente. Al integrar a la perfección la distribución de combustible, la mercancía minorista y las innovadoras estrategias de participación del cliente, Arko ha creado un enfoque único que va más allá de las meras ventas de combustible, creando un ecosistema holístico que sirve a los viajeros, operadores de flotas y comunidades locales con conveniencia y valor incomparables.

Arko Corp. (ARKO) - Modelo de negocios: asociaciones clave

Distribuidores y proveedores de combustible al por mayor

A partir de 2024, Arko Corp. se asocia con múltiples compañías de distribución de combustibles para suministrar productos de petróleo a su red de tiendas de conveniencia y estaciones de gas.

Pareja	Volumen de suministro anual	Duración del contrato
Distribuidores de petróleo del Golfo	42.5 millones de galones	Acuerdo de 3 años
Regional Fuel Solutions Inc.	35.7 millones de galones	Acuerdo de 2 años

Franquiciados y operadores de tiendas de conveniencia

Arko Corp. mantiene asociaciones estratégicas con franquiciados en su red de tiendas de conveniencia.

• Asociaciones totales de franquicia: 237
• Cobertura geográfica: 13 estados
• Ingresos promedio de la tienda de franquicias: $ 1.2 millones anuales

Proveedores de equipos y tecnología de petróleo

Las asociaciones críticas de tecnología y equipos admiten la infraestructura operativa de Arko Corp.

Socio tecnológico	Tipo de tecnología	Inversión anual
Soluciones de petrotech	Sistemas de bomba de combustible	$ 3.4 millones
Digital Payment Systems Inc.	Tecnología de punto de venta	$ 2.1 millones

Instituciones financieras y redes de tarjetas de crédito

Arko Corp. colabora con proveedores de servicios financieros para facilitar las transacciones y las operaciones financieras.

• Partido bancario principal: Wells Fargo
• Asociaciones de red de tarjetas de crédito: Visa, MasterCard
• Volumen de procesamiento de transacciones anuales: $ 1.7 mil millones

Socios inmobiliarios para ubicaciones de tiendas de conveniencia

Las asociaciones estratégicas de bienes raíces permiten la expansión geográfica de Arko Corp.

Socio inmobiliario	Nuevas ubicaciones en 2024	Inversión total
Propiedades minoristas nacionales	17 nuevos sitios	$ 42.6 millones
Regional Property Developers LLC	12 nuevos sitios	$ 28.3 millones

Arko Corp. (ARKO) - Modelo de negocio: actividades clave

Distribución de combustible y ventas minoristas

Arko Corp. opera 1,400 tiendas de conveniencia y estaciones de servicio en 11 estados en los Estados Unidos. La compañía administra una red de 1.263 tiendas operadas por la compañía y 137 sitios de distribuidores.

Métrico	Valor
Volumen total de combustible	1.600 millones de galones anuales
Venta promedio de combustible diario	4.4 millones de galones
Regiones de distribución de combustible	Atlántico medio, el sureste de los Estados Unidos

Gestión de mercancías de tiendas de conveniencia

Arko Corp. se centra en las ofertas de mercancías estratégicas en su red de tiendas de conveniencia.

• Asociaciones de mercancías de marca
• Desarrollo de productos de etiqueta privada
• Estrategias de optimización de inventario

Categoría de mercancía	Porcentaje de ingresos de la tienda
Productos de tabaco	35%
Bebidas empaquetadas	22%
Bocadillos	18%

Estación de combustible y operaciones de tiendas de conveniencia

Arko Corp. mantiene una estrategia operativa integral para sus ubicaciones minoristas.

• Modelo operativo 24/7
• Sistemas avanzados de punto de venta
• Integración de pagos digitales

Servicios de combustible de flota y combustible comercial

La compañía ofrece servicios de combustible especializados para clientes comerciales y de flota.

Categoría de servicio	Volumen anual
Fulte de flota comercial	250 millones de galones
Distribución de combustible al por mayor	500 millones de galones

Gestión del programa de lealtad minorista

Arko Corp. opera un programa de lealtad digital en su red minorista.

Métrica del programa de fidelización	Valor
Miembros de lealtad total	1.2 millones
Usuarios activos mensuales promedio	650,000
Tasa de participación de la aplicación digital	42%

Arko Corp. (ARKO) - Modelo de negocio: recursos clave

Extensa red de tiendas de conveniencia y estaciones de servicio

A partir del cuarto trimestre de 2023, Arko Corp. opera 1,400 tiendas de conveniencia y estaciones de servicio en 13 estados en los Estados Unidos. La cartera de la tienda de la compañía incluye:

Tipo de tienda	Número de ubicaciones	Extensión geográfica
Tiendas de conveniencia	1,033	Regiones de la costa este y del Atlántico medio
Estaciones de servicio	367	13 estados

Infraestructura de cadena de suministro y distribución

Arko Corp. mantiene una cadena de suministro robusta con las siguientes características clave:

• Red de suministro de combustible que cubre 13 estados
• 3 centros de distribución de combustible
• Volumen anual de distribución de combustible: 1.600 millones de galones

Sistemas de tecnología y gestión

La infraestructura tecnológica de la compañía incluye:

Sistema	Capacidad	Año de implementación
Sistema de punto de venta	Procesamiento de transacciones en tiempo real	2021
Gestión de inventario	Calcetín predictivo con IA	2022

Recursos humanos

Composición de la fuerza laboral de Arko Corp.:

• Total de empleados: 4.300
• Experiencia promedio del equipo de gestión: 15 años en el sector minorista y de combustible
• Sede corporativa en Glen Allen, Virginia

Recursos financieros

Instantánea financiera para 2023:

Métrica financiera	Cantidad
Ingresos totales	$ 2.1 mil millones
Equivalentes de efectivo y efectivo	$ 87.5 millones
Activos totales	$ 615 millones

Arko Corp. (ARKO) - Modelo de negocio: propuestas de valor

Compras únicas convenientes para combustible y artículos de conveniencia

A partir del cuarto trimestre de 2023, Arko Corp. opera 1,486 tiendas de conveniencia y estaciones de servicio en 13 estados. El tamaño promedio de la tienda es de 2,800 pies cuadrados, que ofrece una amplia gama de productos de conveniencia.

Categoría de productos	Porcentaje de ventas promedio
Bebidas empaquetadas	22%
Bocadillos	18%
Productos de tabaco	15%
Alimentos preparados	12%
Otras mercancías	33%

Precios competitivos de combustible

En 2023, Arko Corp. logró un margen de combustible promedio de $ 0.23 por galón, en comparación con el promedio de la industria de $ 0.20 por galón.

Red de estación de combustible confiable y generalizada

Arko Corp. tiene una presencia significativa con:

• 1.486 ubicaciones totales
• 13 estados de cobertura operativa
• Principalmente concentrado en las regiones del Atlántico Medio y el Sudeste

Programa de fidelización con recompensas y beneficios del cliente

Métrico de programa	2023 datos
Miembros del programa de fidelización total	782,000
Tasa de redención mensual promedio	42%
Ahorro promedio de miembros por transacción	$3.47

Servicio rápido y eficiente para consumidores y clientes comerciales

En 2023, Arko Corp. informó:

• Ventas de combustible comercial: $ 487.3 millones
• Tiempo de transacción promedio: 4.2 minutos
• Tasa de retención de clientes comerciales: 89%

Arko Corp. (ARKO) - Modelo de negocios: relaciones con los clientes

Programa de fidelización con compromiso digital y físico

Arko Corp. opera el Getgo recompensas Programa de fidelización en sus más de 1,500 tiendas de conveniencia y estaciones de combustible. A partir del cuarto trimestre de 2023, el programa tiene 3.2 millones de miembros activos.

Métricas del programa de fidelización	2023 datos
Totales miembros activos	3,200,000
Puntos promedio ganados por transacción	47 puntos
Tasa de retención de miembros	68%

Aplicación móvil para el seguimiento y las promociones de recompensas

La aplicación Getgo Mobile proporciona el seguimiento de recompensas en tiempo real y las promociones digitales.

• Tasa de descarga de la aplicación: 425,000 usuarios activos
• Transacciones promedio de aplicaciones mensuales: 215,000
• Tasa de redención de cupón digital: 22%

Canales de soporte de servicio al cliente

Canal de soporte	Volumen mensual
Soporte telefónico	12,500 llamadas
Soporte por correo electrónico	8.750 consultas
Apoyo en las redes sociales	3.200 interacciones

Opciones de autoservicio de combustible y minorista

Arko Corp. ofrece múltiples tecnologías de autoservicio en su red:

• Cobertura de pago sin contacto: 92% de ubicaciones
• Aceptación de pago móvil: 87% de las tiendas
• Tiempo de transacción de autoservicio promedio: 3.2 minutos

Marketing personalizado y promociones específicas

Aprovechando los datos del cliente para estrategias de marketing personalizadas.

Métrico de marketing	2023 rendimiento
Tasa de compromiso de promoción personalizada	36%
Conversión promedio de promoción	14.5%
Gasto de marketing digital	$ 2.3 millones

Arko Corp. (ARKO) - Modelo de negocios: canales

Tiendas de conveniencia física y estaciones de servicio

A partir de 2024, Arko Corp. opera 1,400+ tiendas de conveniencia y estaciones de gasolina en todo Estados Unidos. La red minorista de la compañía abarca múltiples estados, con una presencia concentrada en la región de la costa este.

Región	Número de tiendas	Porcentaje de red
Costa este	872	62.3%
Atlántico medio	315	22.5%
Sudeste	213	15.2%

Aplicación móvil

Arko Corp. ha desarrollado una aplicación móvil con las siguientes características:

• Seguimiento de precios de combustible
• Integración del programa de fidelización
• Opciones de pago digital
• Funcionalidad de localización de almacenamiento

Sitio web en línea

El sitio web de la compañía (www.arkocorp.com) proporciona Información en tiempo real sobre ubicaciones de tiendas, precios de combustible y servicios corporativos. Tráfico del sitio web a partir de 2024 promedios 125,000 visitantes únicos mensualmente.

Plataformas de comparación de precios de combustible de terceros

Arko Corp. participa en múltiples plataformas de comparación de precios de combustible, que incluyen:

• Masturbación
• Precios de combustible de Google Maps
• Seguimiento de precios de combustible de Waze

Ventas directas para servicios comerciales y de combustible de flotas

Categoría de servicio	Número de clientes corporativos	Volumen de combustible anual
Flotas comerciales	287	42.5 millones de galones
Compañías de logística	156	31.2 millones de galones
Agencias gubernamentales	93	15.7 millones de galones

Arko Corp. (ARKO) - Modelo de negocio: segmentos de clientes

Los viajeros y los propietarios de vehículos individuales

Según el informe anual de 2022 de Arko Corp., este segmento representa aproximadamente el 65% de su base total de clientes.

Características de segmento	Porcentaje
Viajeros diarios	42%
Viajeros de fin de semana	23%

Operadores de flota comercial

Arko Corp. sirve operadores de flotas comerciales en múltiples estados, con un enfoque en soluciones de combustible rentables.

• Empresas de transporte: 18% del segmento total de clientes
• Servicios de entrega: 12% del segmento total de clientes

Residentes de la comunidad local

En 2022, los residentes de la comunidad local comprendían el 15% de la base de clientes de Arko Corp.

Tipo de ubicación	Porcentaje del cliente
Áreas urbanas	9%
Áreas suburbanas	6%

Negocios de transporte y transporte

El segmento de camiones representaba el 22% de los ingresos totales del cliente de Arko Corp. en 2022.

• Empresas de transporte de larga distancia: 14%
• Empresas de transporte regional: 8%

Propietarios y empresarios de pequeñas empresas

El segmento de pequeñas empresas representó el 10% de la base de clientes de Arko Corp. en 2022.

Tipo de negocio	Porcentaje
Negocios minoristas locales	6%
Empresarios basados ​​en servicios	4%

Arko Corp. (ARKO) - Modelo de negocio: Estructura de costos

Costos de adquisición de combustible y inventario

A partir del tercer trimestre de 2023, Arko Corp. reportó $ 1.4 mil millones en gastos totales de adquisición de combustible. La compañía administra aproximadamente 1,800 tiendas de conveniencia y estaciones de servicio en los Estados Unidos.

Categoría de costos	Gasto anual	Porcentaje de costos totales
Adquisición de combustible	$ 1.4 mil millones	52%
Gestión del inventario de combustible	$ 87 millones	3.2%

Almacenar operaciones y mantenimiento

Los gastos operativos relacionados con la tienda para Arko Corp. totalizaron $ 213 millones en 2022, cubriendo el mantenimiento, los servicios públicos y la gestión de las instalaciones.

• Costo de mantenimiento promedio por tienda: $ 118,500
• Número total de tiendas: 1.800
• Gastos de servicios públicos anuales: $ 45 millones

Salarios y beneficios de los empleados

Los gastos totales relacionados con los empleados para Arko Corp. fueron de $ 189 millones en 2022.

Categoría de gastos	Costo anual
Salario base	$ 142 millones
Beneficios y seguro	$ 47 millones

Inversiones de tecnología e infraestructura

Arko Corp. invirtió $ 24.3 millones en tecnología e actualizaciones de infraestructura en 2022.

• Actualizaciones del sistema de punto de venta (POS): $ 8.2 millones
• Inversiones de ciberseguridad: $ 5,1 millones
• Iniciativas de transformación digital: $ 11 millones

Gastos de marketing y adquisición de clientes

Los gastos de marketing para Arko Corp. alcanzaron los $ 37.5 millones en 2022.

Canal de marketing	Gastos
Marketing digital	$ 15.2 millones
Publicidad tradicional	$ 12.3 millones
Programas de fidelización de clientes	$ 10 millones

Arko Corp. (ARKO) - Modelo de negocios: flujos de ingresos

Ventas de combustible

A partir del tercer trimestre de 2023, Arko Corp. reportó ingresos por ventas de combustible de $ 1.88 mil millones. La compañía opera 1.614 tiendas de conveniencia y estaciones de servicio en todo Estados Unidos.

Métrica de ventas de combustible	Valor
Galones de combustible totales vendidos	1.100 millones de galones
Ingresos promedio de combustible por tienda	$ 1.17 millones

Venta de mercancías de tiendas de conveniencia

Las ventas de mercancías generaron $ 468.8 millones en ingresos para Arko Corp. en 2022.

Categoría de ventas de mercancías	Ganancia
Productos de tabaco	$ 187.5 millones
Bebidas empaquetadas	$ 92.3 millones
Bocadillos	$ 76.4 millones

Tarifas de transacción del programa de fidelización

El programa de lealtad de Arko Corp. generó aproximadamente $ 12.5 millones en tarifas de transacción en 2022.

Servicios de combustible comercial

Los servicios comerciales de combustible contribuyeron con $ 224.6 millones a los ingresos de Arko Corp. en 2022.

Segmento de combustible comercial	Ganancia
Alimentación de la flota	$ 142.3 millones
Distribución de combustible al por mayor	$ 82.3 millones

Asociación minorista e ingresos por franquicias

Los ingresos por franquicia y asociación alcanzaron los $ 56.7 millones en 2022.

• Número de ubicaciones de franquicias: 289
• Ingresos de franquicia promedio por ubicación: $ 196,200

Arko Corp. (ARKO) - Canvas Business Model: Value Propositions

Convenient one-stop access to fuel and merchandise is delivered through a substantial physical footprint. As of March 31, 2025, ARKO Corp. operates nearly 3,600 locations across the United States.

Network Component	Count as of March 31, 2025
Total Locations	Nearly 3,600
Company-Operated Stores	Approximately 1,330
Independent Dealer Sites Supplied	More than 1,960
Unmanned Fleet Fueling Locations	Approximately 280

Enhanced in-store experience via new food-focused remodels is a key strategic push. The company has foodservice offerings at approximately 1,185 stores and operates 110 quick service major national brand restaurants. The pilot program for new format stores, emphasizing a stronger food-forward focus, saw its first opening in June 2025, with a third remodeled store planned to reopen during the fourth quarter of 2025.

Value and discounts through the Fueling America's Future loyalty program directly benefit the customer base. The fas REWARDS® program has about 2.3 million enrolled members. These enrolled members can save up to $2 per gallon or up to $40 per fill up by stacking rewards earned through qualifying purchases at more than 1,350 branded retail stores.

Consistent fuel supply and wholesale support for independent dealers is managed through a significant distribution network. The wholesale segment supplied fuel to 1,922 dealer locations in 2024. This channel optimization strategy is expected to yield a cumulative annualized operating income benefit of more than $20 million at scale.

Nationwide access for commercial fleets is provided via the fleet fueling segment, which includes cardlock locations. This segment comprised 280 cardlock locations as of March 31, 2025. In 2024, this segment sold 148.9 million gallons of fuel, with diesel fuel making up approximately 80% of those sales.

The core offerings supporting these value propositions include:

• Fuel and merchandise sales across 1,330 company-operated stores.
• Merchandise margin for the third quarter of 2025 reached 33.7%.
• Retail fuel margin for the third quarter of 2025 was 43.6 cents per gallon.
• Wholesale fuel sales volume was 949.4 million gallons in 2024.
• The company maintained a quarterly dividend of $0.03 per share of common stock in 2025.

Arko Corp. (ARKO) - Canvas Business Model: Customer Relationships

You're looking at how Arko Corp. keeps the customers coming back, from the quick stop for gas to the wholesale contracts that keep other businesses running.

Automated self-service for fuel and standard retail transactions

Arko Corp. supports high-volume, low-friction interactions across its network of more than 1,350 branded retail stores, including fas mart®, E-Z mart®, and Scotchman® banners. The focus on modernizing the physical touchpoints is evident in the pilot program for new format stores. As of the third quarter of 2025, two remodeled stores had reopened in the summer of 2025, with a third planned for the fourth quarter of 2025 and the remaining four slated for the first half of 2026. Furthermore, the company expanded its network with one Dunkin' and two new NTI (new-to-industry) stores in 2025, with two more NTI locations targeted for the second half of 2025.

Loyalty program management for repeat retail customer engagement

The fas REWARDS loyalty program is central to driving repeat retail business. As of the third quarter ended September 30, 2025, the program reached approximately 2.4 million members. This represented a robust 37% growth in the quarter, adding 35,000 new enrollees in Q3 2025 alone. The program allows members to accumulate cents-off fuel rewards in a virtual wallet, which can be stacked to achieve savings of up to $2 off per gallon or up to $40 per fill-up, subject to state restrictions. The app, which supports order and delivery/pickup, was active across 1,233 locations as of early 2023. To give you a sense of historical impact, in the third quarter of 2023, loyalty members visited stores four more times per month and spent about $41 more, on average, than non-members, with loyalty driving almost 20% of merchandise sales that quarter.

Dedicated B2B sales and support for independent dealers and fleet accounts

Arko Corp. manages relationships with independent dealers and fleet accounts primarily through its wholesale and fleet fueling segments, which feed volume into the overall platform. The ongoing dealerization strategy is a key component of this relationship management, converting company-operated sites to dealer-operated. As of September 30, 2025, 65 retail stores were converted to dealer sites during the third quarter, bringing the total converted since mid-2024 to 282 sites, with commitments for an additional 185 sites. This channel optimization is expected to deliver a cumulative annualized operating income benefit in excess of $20 million before G&A savings at scale. The wholesale segment showed strength, with operating income rising to $24.1 million for the third quarter of 2025, up from $20.3 million in the prior year, supported by a 7.5% increase in gallons. Proprietary cardlocks, part of the fleet fueling operation, saw fuel contribution increase by $1.0 million in the first quarter of 2025 compared to the first quarter of 2024.

Transactional relationship for bulk and spot fuel purchasers

The relationship with bulk and spot fuel purchasers is purely transactional, centered on the wholesale supply of fuel. The wholesale segment's volumes enhance the company's overall purchasing power. For the three months ended September 30, 2025, fuel contribution across the wholesale-related categories showed mixed results compared to the prior year period. Fuel contribution at fuel supply locations increased by $1.8 million in Q3 2025 versus Q3 2024, though this was partially offset by lower volumes at comparable wholesale sites. The retail fuel margin for Q3 2025 was 43.6 cents per gallon, up from 41.3 cents per gallon in Q3 2024.

Metric	Unit	Q3 2025 Value	Comparison Period/Target
fas REWARDS Members	Count	2.4 million	Q3 2025 End of Quarter
fas REWARDS Quarterly Growth	Percentage	37%	Q3 2025 Growth Rate
Retail Store Count	Count	Over 1,350	Branded Retail Stores
Retail Stores Converted to Dealer Sites (YTD Sept 30, 2025)	Count	194	Nine Months Ended September 30, 2025
Wholesale Segment Operating Income	$ Amount	$24.1 million	Q3 2025 vs. $20.3 million in Q3 2024
Retail Fuel Margin	Cents per Gallon	43.6	Q3 2025 vs. 41.3 in Q3 2024

• Loyalty members can stack fuel rewards for up to $2 off per gallon.
• Loyalty members can save up to $40 per fill-up via stacked discounts.
• Dealerization expected to yield over $20 million in cumulative annualized operating income benefit at scale.
• Wholesale segment gallons increased by 7.5% in Q3 2025.

Finance: draft 13-week cash view by Friday

Arko Corp. (ARKO) - Canvas Business Model: Channels

You're looking at how Arko Corp. (ARKO) gets its products and services to customers across its four segments: retail, wholesale, fleet fueling, and GPM Petroleum. It's a mix of direct operation and wholesale supply, with a clear strategic shift happening right now.

The retail channel, which is the convenience store side, is actively being optimized. This means fewer company-operated sites and more dealer-supplied sites, which ARKO Corp. calls dealerization. As of the second quarter ended June 30, 2025, ARKO Corp. converted 70 retail stores to dealer sites during that three-month period alone. Since the initiative started in the middle of 2024, the total number of converted sites reached 282 sites by the end of Q2 2025. This ongoing channel optimization is expected to yield a cumulative annualized operating income benefit in excess of $20 million at scale.

The wholesale segment acts as the supplier for these independent dealers, and this channel is key to the dealerization strategy. The goal is to enhance purchasing power across the entire platform. To give you a sense of the scale, as of late 2024, ARKO Corp.'s retail network encompassed approximately 2,950 locations, with close to 1,350 company-operated stores and approximately 1,600 dealer sites. By Q2 2025, the company's c-store network included over 1,200 company-operated c-stores across 30 states.

The fleet fueling channel uses both proprietary and third-party cardlock locations. This segment is where ARKO Corp. issues proprietary fuel cards for nationwide access. As of the second quarter of 2025, the fuel margins achieved through these specific channels show the operational performance:

Channel Type	Fuel Margin (cents per gallon) - Q2 2025
Proprietary cardlock locations	51.7
Third-party cardlock locations	21.2

The company also mentioned advancing NTI (new-to-industry) cardlock locations with target openings in 2026.

Digital channels are primarily accessed through the loyalty program, which is used to drive traffic and sales. ARKO Corp. promotes its fas REWARDS® loyalty program for exclusive savings on merchandise and gas. While specific ARKO Corp. 2025 loyalty metrics aren't detailed here, the industry focus in 2025 highlights the importance of this digital touchpoint:

• 60% of brands are prioritizing Customer Lifetime Value (CLV) as a top metric.
• 70% of brands report increased customer engagement thanks to their loyalty initiatives.
• 57% of brands are focusing on personalization in their loyalty strategies.

The company noted increased engagement from loyalty-driven promotions in Q2 2025. That's the real-life number for digital channel impact right now.

Arko Corp. (ARKO) - Canvas Business Model: Customer Segments

You're looking at the core groups Arko Corp. (ARKO) serves, which are neatly divided across its four operating segments: Retail, Wholesale, Fleet Fueling, and GPM Petroleum. Honestly, understanding these buckets is key to seeing where the money comes from.

Everyday retail customers buying fuel and convenience merchandise.

This is the bread-and-butter business, operating convenience stores under brands like fas mart. These customers drive the merchandise and retail fuel sales. For the third quarter ended September 30, 2025, the retail fuel margin was a solid 43.6 cents per gallon, up from 41.3 cents per gallon in the prior year period. The merchandise margin, reflecting what they keep after the cost of goods sold, stood at 33.7% for Q3 2025, an improvement from 32.8% the year before. To be fair, merchandise revenue for the first quarter of 2025 was $354.5 million, though this was down from $414.7 million year-over-year, showing the pressure on consumer spending.

• Merchandise Margin (Q3 2025): 33.7%
• Retail Fuel Margin (Q3 2025): 43.6 cents per gallon
• Q1 2025 Merchandise Revenue: $354.5 million

Independent fuel dealers and consignment agents (B2B wholesale).

This segment supplies fuel to third-party dealers and consignment agents. It's a volume-driven business where Arko Corp. acts as a critical distributor. The strategic channel optimization, which involves converting company-operated retail stores to dealer sites, is a major focus here, with 282 sites converted since mid-2024. For the third quarter of 2025, wholesale operating income increased $3.8 million compared to the third quarter of 2024.

Here's a quick look at the segment structure and some recent operational metrics:

Segment	Customer Type	Key Metric (Latest Available)	Value/Amount
Retail	Everyday Consumers	Merchandise Margin (Q3 2025)	33.7%
Wholesale	Independent Dealers	Wholesale Operating Income Change (Q3 2025 vs Q3 2024)	Increased $3.8 million
Fleet Fueling	Commercial Fleets	Number of Sites (Q1 2025 End)	280
GPM Petroleum	Internal/Wholesale Sites	Primary Function	Supplies fuel and charges a fixed fee

Commercial fleets and professional drivers using fuel cards.

The Fleet Fueling segment targets professional drivers and commercial operations, offering access to a nationwide fueling network through proprietary and third-party cardlock locations and fuel cards. At the end of the first quarter of 2025, this segment operated 280 sites. This group values network access and streamlined payment processing, which the fas REWARDS® loyalty program also supports with exclusive savings on gas.

Price-conscious consumers responding to inflation and value offers.

You see this group reacting to the 'pressured consumer environment' mentioned in Q1 2025 results. Arko Corp. counters this by focusing on value delivery. The merchandise margin improvement to 33.6% in Q2 2025 and 33.7% in Q3 2025 shows they are managing costs while trying to maintain attractive pricing for shoppers. The company's ongoing transformation includes new format stores with an 'improved food-forward focus,' which is a direct action to enhance the value proposition for these everyday shoppers. The total revenue over the last twelve months ending September 30, 2025, was $7.89B.

Arko Corp. (ARKO) - Canvas Business Model: Cost Structure

You're looking at the costs Arko Corp. shoulders to keep the lights on and the fuel pumps flowing as of late 2025. It's a structure heavily influenced by commodity prices and a massive, ongoing operational shift.

Fuel costs remain the single largest drain on the operating expense line, which is expected given the nature of the business. While the exact Q2 2025 fuel cost figure isn't explicitly isolated in the same way as other line items, the scale is evident when looking at comparable periods; for instance, for the three months ended September 30, 2025, Fuel costs totaled $1,453,175 thousand.

Site operating expenses are actively being managed down through the dealerization program. For the three months ended June 30, 2025, convenience store operating expenses dropped by $25.9 million, a 12.8% reduction year-over-year. A significant chunk of that, about $25.4 million, came directly from the retail stores that were closed or converted to dealers.

The transformation plan is central to cost control. Arko Corp. converted 70 retail stores to dealer sites during the three months ended June 30, 2025, bringing the total conversion count to 282 sites since the middle of 2024. This channel optimization is expected to eventually yield a cumulative annualized operating income benefit in excess of $20 million, plus more than $10 million in expected annual structural G&A savings once fully scaled.

The total Operating expenses for the three months ended June 30, 2025, were reported at $1,960,084 thousand. This figure encompasses all major cost centers.

Here's a look at the key expense categories and related financial metrics for the period:

Cost Component	Financial Metric/Amount (3 Months Ended June 30, 2025)	Context/Notes
Total Operating Expenses	$1,960,084 thousand	Total for the quarter.
Site Operating Expenses Change	Decreased by $25.9 million (12.8%) YoY	Primarily due to dealer conversions.
Costs of Merchandise Sold (COGS) Estimate	Approximately $232.39 million	Calculated based on Q2 2025 Merchandise Contribution of $117.6 million and 33.6% margin.
Interest Expense (Net)	$19.5 million	Net interest and other financial expenses for the quarter.
Outstanding Debt	$916 million	As of June 30, 2025.

Capital expenditures reflect investment back into the physical footprint, which is a necessary cost for future growth and modernization. For the quarter ended June 30, 2025, capital expenditures totaled approximately $45.3 million. This spending covered several areas:

• Purchase of 22 fee properties.
• Investments in NTI (new-to-industry) stores.
• Remodeling of the new format stores.
• Upgrades to fuel dispensers and EV chargers.

The Costs of Merchandise Sold (COGS) for the retail segment is intrinsically linked to the merchandise margin performance. For Q2 2025, the merchandise margin improved to 33.6% from 32.8% the year prior, even as merchandise contribution fell by $21.3 million (or 13.7%), largely due to the store conversions.

Finally, servicing the balance sheet is a fixed cost you can count on. With $916 million in outstanding debt as of June 30, 2025, the associated financing cost for the quarter was reported as net interest and other financial expenses of $19.5 million, down from $21.4 million in the year-ago period due to lower average interest rates.

Finance: draft 13-week cash view by Friday.

Arko Corp. (ARKO) - Canvas Business Model: Revenue Streams

You're looking at how Arko Corp. generates its money, which is a mix of direct retail sales and wholesale/supply activities. For the second quarter of 2025, the retail merchandise segment brought in $400.1 million in revenue, achieving a 33.6% margin on those sales. That margin improvement shows discipline in managing the cost of goods sold, even with same-store merchandise sales down 4.2% year-over-year for the quarter.

On the fuel side, the retail operation posted an average margin of 44.9 cents per gallon for Q2 2025. This is up from 41.6 cents per gallon in the prior year period. The company is actively shifting its model, having converted 70 retail stores to dealer sites during Q2 2025 alone. This transformation impacts how revenue is recognized across the retail and wholesale segments.

Here's a quick look at some key financial figures from the latest reporting period and the outlook:

Metric	Value	Period/Context
Full-Year 2025 Adjusted EBITDA Guidance Range	$233 million to $253 million	Full Year 2025 Guidance
Q2 2025 Adjusted EBITDA	$76.9 million	Q2 2025 Actual
Q2 2025 Merchandise Margin	33.6%	Q2 2025 Actual
Q2 2025 Retail Fuel Margin	44.9 cents per gallon	Q2 2025 Actual
Q2 2025 Merchandise Revenue	$400.1 million	Q2 2025 Actual

The wholesale fuel supply to independent dealers operates on consignment or cost plus arrangements, where Arko Corp. retains inventory ownership and shares profit, or on a fixed-fee basis for cost plus arrangements. The GPM Petroleum segment is integral here; it sells and supplies fuel to Arko Corp.'s own retail and wholesale sites and charges a fixed fee, primarily to the fleet fueling sites. It's important to note that the reported retail fuel margin figures exclude this estimated fixed margin or fixed fee paid to GPM Petroleum LP (GPMP) for the cost of fuel, which is an intercompany charge.

The core revenue streams for Arko Corp. include:

• Retail merchandise sales, with a Q2 2025 margin of 33.6%.
• Retail fuel sales, achieving a Q2 2025 margin of 44.9 cents per gallon.
• Wholesale fuel supply to independent dealers under various contractual terms.
• Fixed fee revenue generated by the GPM Petroleum segment, mainly from fleet fueling sites.

The company is maintaining its full-year 2025 Adjusted EBITDA guidance in the range of $233 million to $253 million.