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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Cash flows from operating activities:    
Net income (loss) $ 11,344 $ (441)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 15,173 15,259
Amortization of deferred financing costs 2,483 924
Gain on interest rate cap (196) 0
Provision for inventory obsolescence (26) 0
Loss on debt extinguishment 1,957 6,313
Provision for bad debts 38 616
Remeasurement of tax receivable agreement liability 302 0
Loss on disposal of property and equipment 5 335
Equity compensation 7,452 7,952
Changes in assets and liabilities:    
Accounts receivable (137) (3,578)
Inventory (3,638) (8,665)
Prepaid expenses and other assets 1,101 (2,121)
Accounts payable and accrued liabilities (7,623) 4,665
Deferred revenue 289 542
Other long-term liabilities (575) 428
Net cash provided by operating activities 27,949 22,229
Cash flows from investing activities:    
Purchases of property and equipment (143) (364)
Reacquisition of area representative rights 0 (7,644)
Net cash used in investing activities (143) (8,008)
Cash flows from financing activities:    
Deferred loan costs (12,419) (1,294)
Payments on line of credit 0 (30,000)
Proceeds from long-term debt 384,328 179,370
Principal payments on long-term debt (181,000) (240,553)
Payments of debt extinguishment costs (77) (2,446)
Distributions to EWC Ventures LLC members (7,280) (5,198)
Proceeds from initial public offering of Class A common stock, net of underwriting discounts and offering expenses 0 145,953
Payment of Class A common stock offering costs (870) 0
Repurchase of Class A Units 0 (942)
Repurchase of Class B common stock and EWC Ventures common units 0 (70,465)
Taxes on vested restricted stock units paid by withholding shares (525) 0
Dividends to holders of Class A common stock (122,227) 0
Dividend equivalents to holders of EWC Ventures units (82,887) 0
Net cash used in financing activities (22,957) (25,575)
Net increase (decrease) in cash 4,849 (11,354)
Cash, cash equivalents and restricted cash, beginning of period 43,301 36,720
Cash, cash equivalents and restricted cash, end of period 48,150 25,366
Supplemental cash flow information:    
Cash paid for interest 12,886 11,763
Cash paid for income taxes 96 0
Non-cash investing and financing activities:    
Property purchases included in accounts payable and accrued liabilities 5 96
Non-cash equity distributions 0 689
Initial public offering expenses in accounts payable and accrued liabilities $ 0 $ 483