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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 26, 2021
Jun. 27, 2020
Jun. 26, 2021
Jun. 27, 2020
Revenue:        
Revenue $ 374,828 $ 167,823 $ 704,247 $ 347,930
Operating expenses:        
Selling, general and administrative expenses 77,935 45,456 146,984 96,521
Acquisition costs 389 1,016 2,038 1,211
Store opening costs 405 627 694 1,802
Depreciation and amortization 26,423 8,636 50,275 16,435
Asset impairment charges 2,178 3,499 3,431 6,411
Total operating expenses 311,188 146,521 590,887 310,901
Operating income 63,640 21,302 113,360 37,029
Other expenses, net:        
Interest expense, net 16,612 17,863 34,702 35,379
(Gain) / loss on foreign currency transactions, net (5,229) (1,194) 5,282 2,285
Loss on debt extinguishment 78 0 45,576 0
Total other expenses, net 11,461 16,669 85,560 37,664
Net income (loss) before taxes 52,179 4,633 27,800 (635)
Income tax expense 17,011 1,542 12,565 221
Net income (loss) 35,168 3,091 15,235 (856)
Net (loss) income attributable to non-controlling interests (36) 33 (30) (66)
Net income (loss) attributable to Driven Brands Holdings Inc. $ 35,204 $ 3,058 $ 15,265 $ (790)
Earnings (loss) per share        
Basic (in dollars per share) [1] $ 0.21 $ 0.03 $ 0.09 $ (0.01)
Diluted (in dollars per share) [1] $ 0.21 $ 0.03 $ 0.09 $ (0.01)
Weighted average shares outstanding        
Basic (shares) [1] 162,626,000 88,990,000 158,727,000 88,990,000
Diluted (shares) [1] 166,512,000 88,990,000 162,271,000 88,990,000
Franchise royalties and fees        
Revenue:        
Revenue $ 37,873 $ 28,282 $ 68,287 $ 57,694
Company-operated store sales        
Revenue:        
Revenue 206,198 87,660 390,053 182,551
Operating expenses:        
Operating expenses 123,820 53,373 236,575 116,665
Independently-operated store sales        
Revenue:        
Revenue 56,379 0 112,542 0
Operating expenses:        
Operating expenses 30,792 0 61,900 0
Advertising fund contributions        
Revenue:        
Revenue 19,648 12,619 36,903 27,502
Operating expenses:        
Operating expenses 19,648 12,619 36,903 27,502
Supply and other revenue        
Revenue:        
Revenue 54,730 39,262 96,462 80,183
Operating expenses:        
Operating expenses $ 29,598 $ 21,295 $ 52,087 $ 44,354
[1] Shares and earnings (loss) per share for 2020 have been adjusted to reflect an implied 88,990-for-one stock split that became effective on January 14, 2021. See Note 1 for additional information.