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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 25, 2022
Jun. 26, 2021
Cash flows from operating activities:    
Net income $ 6,057 $ 8,831
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 10,115 10,409
Amortization of deferred financing costs 1,229 684
Gain on interest rate cap (196) 0
Provision for inventory obsolescence (125) 0
Loss on debt extinguishment 1,957 0
Provision for bad debts 0 405
Remeasurement of tax receivable agreement liability 818 0
Equity compensation 5,335 557
Changes in assets and liabilities:    
Accounts receivable (3,674) (6,712)
Inventory (3,431) (9,520)
Prepaid expenses and other assets 212 (7,562)
Accounts payable and accrued liabilities (964) 10,260
Deferred revenue 421 674
Other long-term liabilities (146) (166)
Net cash provided by (used in) operating activities 17,608 7,860
Cash flows from investing activities:    
Purchases of property and equipment (82) (323)
Reacquisition of area representative rights 0 (7,594)
Net cash used in investing activities (82) (7,917)
Cash flows from financing activities:    
Deferred loan costs (12,419) 0
Proceeds from long-term debt 384,328 0
Principal payments on long-term debt (180,000) (1,214)
Payments of debt extinguishment costs (77)  
Distributions to EWC Ventures LLC members (4,760) 0
Contributions from EWC Ventures LLC members 0 728
Payment of Class A common stock offering costs 870 0
Repurchase of Class A Units 0 (942)
Dividends to holders of Class A common stock (122,227) 0
Dividend equivalents to holders of EWC Ventures units (82,746) 0
Net cash used in financing activities (18,771) (1,428)
Net decrease in cash (1,245) (1,485)
Cash, cash equivalents and restricted cash, beginning of period 43,301 36,720
Cash, cash equivalents and restricted cash, end of period 42,056 35,235
Supplemental cash flow information:    
Cash paid for interest 3,042 8,362
Cash paid for income taxes 26 0
Non-cash investing activities:    
Property purchases included in accounts payable and accrued liabilities 5 0
Reacquired rights purchased included in accounts payable and accrued liabilities $ 0 $ 50