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Segment Information (Tables)
12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Information

 

Year ended December 31,

 

(in thousands)

2024

 

 

2023

 

 

 

 

 

 

 

Segment revenue

$

208,380

 

 

$

181,007

 

Less:

 

 

 

 

 

Food cost

 

68,730

 

 

 

58,322

 

Payroll and benefits

 

64,322

 

 

 

56,889

 

Occupancy expenses

 

17,524

 

 

 

14,653

 

Operating expenses

 

21,538

 

 

 

18,043

 

Depreciation and amortization

 

6,735

 

 

 

4,808

 

Pre-opening costs

 

7,607

 

 

 

3,680

 

Segment Income from Operations

 

21,924

 

 

 

24,612

 

Reconiliation:

 

 

 

 

 

    General and administrative

 

21,326

 

 

 

12,937

 

    Consulting fees - related party

 

 

 

 

2,325

 

    Management fees

 

 

 

 

1,176

 

    Employee retention credits

 

(199

)

 

 

(2,483

)

    Gain on remeasurement of previously held interest

 

(3,402

)

 

 

 

    Interest income, net

 

(829

)

 

 

(347

)

    Other costs

 

122

 

 

 

84

 

    Equity in (loss) income of equity method investee

 

17

 

 

 

(535

)

Net income before taxes

$

4,889

 

 

$

11,455