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Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 26, 2021
Sep. 27, 2020
Sep. 26, 2021
Sep. 27, 2020
Revenue        
Total revenue $ 29,761,000 $ 4,089,000 $ 44,693,000 $ 11,619,000
Costs and expenses        
General and administrative expense 12,966,000 2,990,000 23,375,000 10,626,000
Restaurant operating expenses 3,660,000 0 3,904,000 0
Factory operating expenses 3,473,000 0 3,473,000 0
Impairment of assets 0 753,000 0 3,927,000
Refranchising (gain) loss (250,000) 325,000 (679,000) 1,869,000
Acquisition costs 2,053,000 503,000 2,985,000 633,000
Advertising expense 5,483,000 814,000 8,043,000 2,358,000
Total costs and expenses 27,385,000 5,385,000 41,101,000 19,413,000
Income (loss) from operations 2,376,000 (1,296,000) 3,592,000 (7,794,000)
Other income (expense), net        
Interest expense, net of interest income of $836 and $1,554 due from affiliates during the thirteen and thirty-nine weeks ended September 27, 2020, respectively. There was no interest income earned from affiliates in 2021. (7,072,000) (123,000) (11,939,000) (2,034,000)
Interest expense related to preferred shares (173,000) (323,000) (725,000) (1,251,000)
Net loss on extinguishment of debt (13,000) (88,000) (6,418,000) (88,000)
Change in fair value of derivative liability 0 (374,000) 0 887,000
Gain on contingent consideration payable adjustment 0 1,680,000 0 1,680,000
Other income (expense), net 64,000 (63,000) 189,000 6,000
Total other (expense) income, net (7,194,000) 709,000 (18,893,000) (800,000)
Loss before income tax expense (4,818,000) (587,000) (15,301,000) (8,594,000)
Income tax benefit (1,183,000) (19,000) (3,303,000) (1,405,000)
Net loss (3,635,000) (568,000) (11,998,000) (7,189,000)
Less: Net loss attributable to noncontrolling interest (14,000) 0 (19,000) 0
Net loss attributable to FAT Brands Inc. $ (3,621,000) $ (568,000) $ (11,979,000) $ (7,189,000)
Basic loss per common share (in dollars per share) $ (0.26) $ (0.04) $ (0.85) $ (0.55)
Diluted loss per common share (in dollars per share) $ (0.26) $ (0.04) $ (0.85) $ (0.55)
Basic weighted average shares outstanding (in shares) 14,144,857 13,101,791 14,094,772 13,077,480
Diluted weighted average shares outstanding (in shares) 14,144,857 13,101,791 14,094,772 13,077,480
Cash dividends declared per common share (in dollars per share) $ 0.13 $ 0 $ 0.39 $ 0
Royalty        
Revenue        
Total revenue $ 13,742,000 $ 3,156,000 $ 24,800,000 $ 8,678,000
Franchisor        
Revenue        
Total revenue 1,087,000 122,000 2,109,000 571,000
Advertising        
Revenue        
Total revenue 5,483,000 803,000 8,043,000 2,347,000
Restaurant        
Revenue        
Total revenue 3,879,000 0 4,113,000 0
Factory        
Revenue        
Total revenue 5,480,000 0 5,480,000 0
Management Service        
Revenue        
Total revenue $ 90,000 $ 8,000 $ 148,000 $ 23,000