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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Oct. 01, 2023
Oct. 02, 2022
Cash flows from operating activities:    
Net income (loss) $ 11,231 $ (40,141)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 35,069 26,954
Amortization of intangible assets 27 4,829
Equity-based compensation 5,854 2,838
Impairment and asset disposal costs 4,295 9,848
Changes in operating assets and liabilities:    
Trade accounts receivable (2,365) (826)
Other accounts receivable (2,591) (1,620)
Inventories (586) (879)
Prepaid expenses and other 643 (82)
Operating lease assets (26,177) (32,677)
Accounts payable 1,601 (917)
Accrued expenses and other 16,437 1,735
Operating lease liabilities 29,650 36,167
Net cash provided by operating activities 73,088 5,229
Cash flows from investing activities:    
Purchase of property and equipment (107,564) (71,736)
Net cash used in investing activities (107,564) (71,736)
Cash flows from financing activities:    
Proceeds from long-term debt 6,000 0
Payments on long-term debt (6,000) 0
Purchase of treasury stock (1,571) (661)
Stock options exercised 292 32
Proceeds from initial public offering, net of underwriting fees of $22.8 million 342,604 0
Offering costs paid (5,141) 0
Payment of loan acquisition fees (368) (963)
Payments on finance lease obligations (66) (67)
Net cash provided by (used in) financing activities 335,750 (1,659)
Net change in cash and cash equivalents 301,274 (68,166)
Cash and cash equivalents - beginning of year 39,125 140,332
Cash and cash equivalents - end of period 340,399 72,166
Supplemental Disclosure of Cash Flow Information:    
Offering costs not yet paid 243 0
Cash paid for interest related to long-term debt 278 102
Cash paid for income taxes 260 410
Change in accrued purchases of property and equipment 4,087 4,823
Conversion of redeemable preferred stock into common stock in connection with initial public offering $ 662,309 $ 0