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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 25, 2023
Jun. 30, 2024
Jun. 25, 2023
Revenue        
Total revenue $ 152,040 $ 106,764 $ 304,007 $ 212,455
Costs and expenses        
General and administrative expense 29,558 9,947 59,563 38,362
Cost of restaurant and factory revenues 100,113 59,502 199,163 118,589
Depreciation and amortization 10,246 7,061 20,440 14,177
Refranchising loss 175 179 1,683 338
Advertising fees 14,651 11,610 27,243 22,137
Total costs and expenses 154,743 88,299 308,092 193,603
(Loss) income from operations (2,703) 18,465 (4,085) 18,852
Other (expense) income, net        
Interest expense (29,586) (20,008) (59,209) (45,098)
Interest expense related to preferred shares (4,417) (4,311) (8,835) (9,354)
Net gain on extinguishment of debt 0 0 427 0
Other (expense) income, net (752) 109 (548) 265
Total other expense, net (34,755) (24,210) (68,165) (54,187)
Loss before income tax provision (37,458) (5,745) (72,250) (35,335)
Income tax provision (1,901) (1,346) (5,425) (3,882)
Net loss (39,359) (7,091) (77,675) (39,217)
Dividends on preferred shares (1,920) (1,615) (3,801) (3,381)
Net loss available to common stockholders, basic (41,279) (8,706) (81,476) (42,598)
Net loss available to common stockholders, diluted $ (41,279) $ (8,706) $ (81,476) $ (42,598)
Basic loss per common share (in dollars per share) $ (2.43) $ (0.53) $ (4.80) $ (2.58)
Diluted loss per common share (in dollars per share) $ (2.43) $ (0.53) $ (4.80) $ (2.58)
Basic weighted average shares outstanding (in shares) 17,007,352 16,522,379 16,977,376 16,521,590
Diluted weighted average shares outstanding (in shares) 17,007,352 16,522,379 16,977,376 16,521,590
Cash dividends declared per common share (in dollars per share) $ 0.14 $ 0.14 $ 0.28 $ 0.28
Royalties        
Revenue        
Total revenue $ 23,318 $ 22,751 $ 45,265 $ 45,236
Restaurant sales        
Revenue        
Total revenue 107,410 62,778 213,348 125,379
Advertising fees        
Revenue        
Total revenue 10,065 9,668 19,861 19,019
Factory revenues        
Revenue        
Total revenue 9,636 9,686 19,110 18,851
Franchise fees        
Revenue        
Total revenue 1,113 763 2,594 1,565
Other revenue        
Revenue        
Total revenue $ 498 $ 1,118 $ 3,829 $ 2,405