XML 14 R2.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 25, 2021
Sep. 26, 2020
Revenue:        
Revenue $ 371,148 $ 267,762 $ 1,075,395 $ 615,692
Operating expenses:        
Selling, general and administrative expenses 71,565 56,586 218,549 153,107
Acquisition costs 636 12,076 2,674 13,287
Store opening costs 666 119 1,360 1,921
Depreciation and amortization 28,447 16,221 78,722 32,656
Asset impairment charges and lease terminations (270) 321 3,161 6,732
Total operating expenses 307,420 229,726 898,307 540,627
Operating income 63,728 38,036 177,088 75,065
Other expenses, net:        
Interest expense, net 17,688 29,594 52,390 64,973
Net loss (gain) on foreign currency transactions 1,074 (2,230) 6,356 55
Loss on debt extinguishment 0 673 45,576 673
Total other expenses, net 18,762 28,037 104,322 65,701
Net income before taxes 44,966 9,999 72,766 9,364
Income tax expense 11,880 5,888 24,445 6,109
Net income 33,086 4,111 48,321 3,255
Net (loss) income attributable to non-controlling interests (38) 32 (68) (34)
Net income attributable to Driven Brands Holdings Inc. $ 33,124 $ 4,079 $ 48,389 $ 3,289
Earnings (loss) per share        
Basic (in dollars per share) [1] $ 0.20 $ 0.04 $ 0.30 $ 0.03
Diluted (in dollars per share) [1] $ 0.19 $ 0.04 $ 0.29 $ 0.03
Weighted average shares outstanding        
Basic (shares) [1] 162,635,000 111,950,000 160,030,000 96,643,000
Diluted (shares) [1] 166,630,000 111,950,000 163,968,000 96,643,000
Franchise royalties and fees        
Revenue:        
Revenue $ 38,953 $ 36,520 $ 107,240 $ 94,214
Company-operated store sales        
Revenue:        
Revenue 213,755 140,788 603,808 323,339
Operating expenses:        
Operating expenses 130,520 85,668 367,095 202,333
Independently-operated store sales        
Revenue:        
Revenue 47,941 30,595 160,483 30,595
Operating expenses:        
Operating expenses 27,764 17,995 89,664 17,995
Advertising fund contributions        
Revenue:        
Revenue 19,762 14,927 56,665 42,429
Operating expenses:        
Operating expenses 19,762 14,927 56,665 42,429
Supply and other revenue        
Revenue:        
Revenue 50,737 44,932 147,199 125,115
Operating expenses:        
Operating expenses $ 28,330 $ 25,813 $ 80,417 $ 70,167
[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.