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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 24, 2022
Sep. 30, 2023
Sep. 24, 2022
Revenue:        
Revenue $ 581,034 $ 516,594 $ 1,750,352 $ 1,493,541
Operating Expenses:        
Selling, general, and administrative expenses 123,012 82,460 332,155 272,657
Acquisition related costs 1,667 2,325 7,264 9,981
Store opening costs 1,372 753 3,774 1,925
Depreciation and amortization 45,639 36,518 129,256 107,628
Goodwill impairment 850,970 0 850,970 0
Trade name impairment 0 0 0 125,450
Asset impairment charges and lease terminations 111,239 2,894 117,450 2,910
Total operating expenses 1,487,891 420,826 2,482,430 1,359,738
Operating (loss) income (906,857) 95,768 (732,078) 133,803
Other expenses, net:        
Interest expense, net 41,292 27,323 120,304 78,946
Loss on foreign currency transactions 2,980 15,582 3 30,490
Other expense, net 44,272 42,905 120,307 109,436
(Loss) income before taxes (951,129) 52,863 (852,385) 24,367
Income tax (benefit) expense (151,818) 14,472 (120,572) 8,592
Net (loss) income (799,311) 38,391 (731,813) 15,775
Net loss attributable to non-controlling interest 0 0 0 (15)
Net (loss) income attributable to Driven Brands Holdings Inc. $ (799,311) $ 38,391 $ (731,813) $ 15,790
(Loss) earnings per share:        
Basic (in dollars per share) $ (4.82) $ 0.23 $ (4.40) $ 0.10
Diluted (in dollars per share) $ (4.83) $ 0.23 $ (4.41) $ 0.09
Weighted average shares outstanding        
Basic (in shares) 162,398 162,760 162,698 162,768
Diluted (in shares) 162,398 166,831 162,698 166,663
Franchise royalties and fees        
Revenue:        
Revenue $ 47,362 $ 45,562 $ 140,682 $ 128,300
Company-operated store sales        
Revenue:        
Revenue 389,041 341,211 1,159,685 957,487
Operating Expenses:        
Operating expenses 262,282 209,562 762,731 580,368
Independently-operated store sales        
Revenue:        
Revenue 43,582 40,469 157,647 158,500
Operating Expenses:        
Operating expenses 25,773 23,254 87,095 85,396
Advertising contributions        
Revenue:        
Revenue 27,121 22,018 73,547 63,807
Operating Expenses:        
Operating expenses 27,121 22,018 73,547 63,807
Supply and other revenue        
Revenue:        
Revenue 73,928 67,334 218,791 185,447
Operating Expenses:        
Operating expenses $ 38,816 $ 41,042 $ 118,188 $ 109,616