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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 24, 2022
Sep. 25, 2021
Revenue:        
Revenue $ 516,594 $ 371,148 $ 1,493,541 $ 1,075,395
Operating Expenses:        
Selling, general, and administrative expenses 82,460 71,565 272,657 218,549
Acquisition costs 2,325 636 9,981 2,674
Store opening costs 753 666 1,925 1,360
Depreciation and amortization 36,518 28,447 107,628 78,722
Trade name impairment charge 0 0 125,450 0
Asset impairment charges and lease terminations 2,894 (270) 2,910 3,161
Total operating expenses 420,826 307,420 1,359,738 898,307
Operating income 95,768 63,728 133,803 177,088
Other expenses, net:        
Interest expense, net 27,323 17,688 78,946 52,390
Loss (gain) on foreign currency transactions 15,582 1,074 30,490 6,356
Loss on debt extinguishment 0 0 0 45,576
Other expense, net 42,905 18,762 109,436 104,322
Income before taxes 52,863 44,966 24,367 72,766
Income tax expense 14,472 11,880 8,592 24,445
Net income 38,391 33,086 15,775 48,321
Net income (loss) attributable to non-controlling interest 0 (38) (15) (68)
Net income attributable to Driven Brands Holdings Inc. $ 38,391 $ 33,124 $ 15,790 $ 48,389
Earnings per share:        
Basic (in dollars per share) $ 0.23 $ 0.20 $ 0.10 $ 0.30
Diluted (in dollars per share) $ 0.23 $ 0.19 $ 0.09 $ 0.29
Weighted average shares outstanding        
Basic (shares) 162,760 162,635 162,768 160,030
Diluted (shares) 166,831 166,630 166,663 163,968
Franchise royalties and fees        
Revenue:        
Revenue $ 45,562 $ 38,953 $ 128,300 $ 107,240
Company-operated store sales        
Revenue:        
Revenue 341,211 213,755 957,487 603,808
Operating Expenses:        
Operating expenses 209,562 130,520 580,368 367,095
Independently-operated store sales        
Revenue:        
Revenue 40,469 47,941 158,500 160,483
Operating Expenses:        
Operating expenses 23,254 27,764 85,396 89,664
Advertising contributions        
Revenue:        
Revenue 22,018 19,762 63,807 56,665
Operating Expenses:        
Operating expenses 22,018 19,762 63,807 56,665
Supply and other revenue        
Revenue:        
Revenue 67,334 50,737 185,447 147,199
Operating Expenses:        
Operating expenses $ 41,042 $ 28,330 $ 109,616 $ 80,417