Condensed Consolidated Statements of Operations - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
| REVENUE | ||||
| Restaurant sales | $ 42,236 | $ 8,971 | $ 84,592 | $ 17,367 |
| TOTAL REVENUE | 45,298 | 11,770 | 90,228 | 22,700 |
| Restaurant level operating expenses: | ||||
| Food, beverage and paper costs | 12,545 | 2,693 | 25,352 | 5,115 |
| Labor and related expenses | 12,328 | 2,402 | 24,910 | 4,607 |
| Other operating expenses | 7,421 | 2,114 | 14,613 | 3,847 |
| Occupancy and related expenses | 3,890 | 786 | 7,725 | 1,561 |
| General and administrative expenses | 7,406 | 3,549 | 13,432 | 6,524 |
| Depreciation and amortization expense | 4,730 | 2,171 | 9,174 | 4,279 |
| Share-based compensation expense | 909 | 2,595 | 8,285 | 3,117 |
| Brand development, co-op and advertising expense | 1,126 | 653 | 1,839 | 1,374 |
| Goodwill impairment | 55,168 | 0 | 55,168 | 0 |
| Store closure costs | 52 | 0 | 566 | 0 |
| Pre-opening costs | 0 | 502 | 474 | 628 |
| TOTAL OPERATING EXPENSES | 105,575 | 17,465 | 161,538 | 31,052 |
| OPERATING LOSS | (60,277) | (5,695) | (71,310) | (8,352) |
| Other (loss) income | (47) | 2,127 | (80) | 2,241 |
| Gain on change in value of warrant liability | 1,858 | 12,619 | 1,324 | 7,673 |
| Interest expense | (2,246) | (33) | (4,318) | (41) |
| (Loss) income before income taxes | (60,712) | 9,018 | (74,384) | 1,521 |
| Income tax benefit (expense) | 335 | (27) | 447 | (740) |
| Net (loss) income | $ (60,377) | $ 8,991 | $ (73,937) | $ 781 |
| Weighted average common shares outstanding: | ||||
| Basic (in shares) | 22,214,628 | 17,888,140 | 22,089,799 | 17,852,493 |
| Diluted (in shares) | 22,214,628 | 18,752,938 | 22,089,799 | 20,145,284 |
| Net (loss) income per common share: | ||||
| Basic (in USD per share) | $ (2.72) | $ 0.50 | $ (3.35) | $ 0.04 |
| Diluted (in USD per share) | $ (2.72) | $ (0.19) | $ (3.35) | $ (0.34) |
| Royalty and other fees | ||||
| REVENUE | ||||
| Revenues | $ 2,611 | $ 2,254 | $ 4,714 | $ 4,277 |
| Royalty - brand development and co-op | ||||
| REVENUE | ||||
| Revenues | $ 451 | $ 545 | $ 922 | $ 1,056 |
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- Definition Food beverage and paper costs. No definition available.
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- Definition Restaurant level operating expenses. No definition available.
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- Definition Amount of expense for award under share-based payment arrangement. Excludes amount capitalized. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of expense (income) related to adjustment to fair value of warrant liability. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of loss from the write-down of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The total expense recognized in the period for promotion, public relations, and brand or product advertising. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue and income classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Expenditures associated with opening new locations which are noncapital in nature and expensed as incurred. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after cash payment, of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue that is not accounted for under Topic 606. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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