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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 26, 2022
Jun. 27, 2021
Jun. 26, 2022
Jun. 27, 2021
Revenue        
Total revenue $ 102,785 $ 8,282 $ 200,188 $ 14,931
Costs and expenses        
General and administrative expense 20,841 5,097 45,437 9,624
Cost of restaurant and factory revenues 49,846 244 104,644 244
Depreciation and amortization 6,711 386 13,181 784
Refranchising loss (gain) 453 (856) 1,001 (429)
Acquisition costs 135 917 383 932
Advertising fees 11,596 1,367 21,853 2,560
Total costs and expenses 89,582 7,155 186,499 13,715
Income from operations 13,203 1,127 13,689 1,216
Other (expense) income, net        
Interest expense (18,998) (2,406) (38,026) (4,866)
Interest expense related to preferred shares (4,715) (264) (6,714) (552)
Net loss on extinguishment of debt 0 (6,405) 0 (6,405)
Other income, net 2,071 25 3,381 123
Total other expense, net (21,642) (9,050) (41,359) (11,700)
Loss before income tax expense (8,439) (7,923) (27,670) (10,484)
Income tax (benefit) provision (251) (1,992) 4,273 (2,121)
Net loss (8,188) (5,931) (31,943) (8,363)
Less: Net loss attributable to noncontrolling interest 0 (5) 0 (5)
Net loss attributable to FAT Brands Inc. $ (8,188) $ (5,926) $ (31,943) $ (8,358)
Basic loss per common share (in dollars per share) $ (0.50) $ (0.48) $ (1.95) $ (0.69)
Diluted loss per common share (in dollars per share) $ (0.50) $ (0.48) $ (1.95) $ (0.69)
Basic weighted average shares outstanding (in shares) 16,405,108 12,275,370 16,396,896 12,122,938
Diluted weighted average shares outstanding (in shares) 16,405,108 12,275,370 16,396,896 12,122,938
Cash dividends declared per common share (in dollars per share) $ 0.13 $ 0.13 $ 0.26 $ 0.26
Royalties        
Revenue        
Total revenue $ 21,665 $ 6,161 $ 42,563 $ 11,057
Restaurant sales        
Revenue        
Total revenue 60,044 234 118,121 234
Advertising fees        
Revenue        
Total revenue 9,568 1,370 18,929 2,560
Factory revenues        
Revenue        
Total revenue 8,570 0 16,749 0
Franchise fees        
Revenue        
Total revenue 1,295 482 2,009 1,022
Management fees and other income        
Revenue        
Total revenue $ 1,643 $ 35 $ 1,817 $ 58