Note D - Revenues

9 Months Ended

Dec. 26, 2021

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

NOTE D – REVENUES

The Company’s disaggregated revenues for the thirteen and thirty-nine weeks ended December 26, 2021 and December 27, 2020 are as follows (in thousands):

	Thirteen weeks ended				Thirty-nine weeks ended
	December 26, 2021		December 27, 2020		December 26, 2021		December 27, 2020
Branded Products	$	16,901	$	10,003	$	51,960	$	24,450
Company-operated restaurants		1,736		1,319		9,502		6,247
Total sales		18,637		11,322		61,462		30,697
License royalties		5,878		5,898		24,218		24,689
Franchise royalties		744		361		2,581		880
Franchise fees		175		59		412		207
Total franchise fees and royalties		919		420		2,993		1,087
Advertising fund revenue		479		390		1,437		1,082
Total revenues	$	25,913	$	18,030	$	90,110	$	57,555

The following table disaggregates revenues by primary geographical market (in thousands):

	Thirteen weeks ended				Thirty-nine weeks ended
	December 26, 2021		December 27, 2020		December 26, 2021		December 27, 2020
United States	$	25,066	$	17,810	$	87,545	$	56,723
International		847		220		2,565		832
Total revenues	$	25,913	$	18,030	$	90,110	$	57,555

Contract balances

The following table provides information about contract receivables and liabilities (deferred franchise fees) from contracts with customers (in thousands):

	December 26, 2021		March 28, 2021
Receivables, which are included in “Accounts and other receivables, net” (a)	$	250	$	-
Deferred franchise fees (b)	$	2,022	$	1,773

(a) Includes receivables related to “franchise fees and royalties”

(b) Deferred franchise fees of $359 and $1,663 as of December 26, 2021 and $237 and $1,536 as of March 28, 2021 are included in Deferred franchise fees – current and long term, respectively.

Significant changes in deferred franchise fees are as follows (in thousands):

	Thirty-nine weeks ended
	December 26, 2021			December 27, 2020
Deferred franchise fees at beginning of period	$	1,773		$	1,917
Revenue recognized during the period		(412	)		(207	)
New deferrals due to cash received and other		661			70
Deferred franchise fees at end of period	$	2,022		$	1,780

Anticipated future recognition of deferred franchise fees

The following table reflects the estimated franchise fees to be recognized in the future related to performance obligations that are unsatisfied at the end of the period (in thousands):

	Estimate for fiscal year
2022 (a)	$	95
2023		342
2024		303
2025		286
2026		260
Thereafter		736
Total	$	2,022

(a) Represents franchise fees expected to be recognized for the remainder of the 2022 fiscal year, which includes international development fees expected to be recognized over the duration of one year or less. Amount does not include $412 of franchise fee revenue recognized for the thirty-nine weeks ended December 26, 2021.