Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Jan. 01, 2024
Jan. 02, 2023
Revenue:    
Restaurant sales $ 160,833 $ 167,201
Total Revenue 170,100 178,720
Restaurant level operating expenses:    
Food, beverage and paper costs 42,858 48,487
Labor and related expenses 50,289 49,785
Other operating expenses 29,888 30,277
Occupancy and related expenses 15,656 15,607
General and administrative expenses 22,477 25,907
Depreciation and amortization expense 13,154 17,138
Share-based compensation expense 5,612 10,239
Brand development, co-op and advertising expense 4,233 3,870
Goodwill impairment 0 66,569
Asset impairment 4,524 6,946
Store closure costs 587 1,949
Restructuring costs 2,657 1,459
Pre-opening costs 203 474
Operating Loss (22,038) (99,987)
Other income, net 80 2,608
Gain on change in value of warrant liability 13 2,511
Interest expense, net (8,828) (8,659)
Loss before Income Taxes (30,773) (103,527)
Income tax benefit 65 95
Net Loss $ (30,708) $ (103,432)
Weighted average common shares outstanding:    
Basic (in shares) 25,521,098 22,173,694
Diluted (in shares) 25,521,098 22,173,694
Net Loss per common share:    
Basic (in shares) $ (1.20) $ (4.66)
Diluted (in shares) $ (1.20) $ (4.66)
Royalty and other fees    
Revenue:    
Other revenues $ 7,492 $ 9,733
Royalty - brand development and co-op    
Revenue:    
Other revenues $ 1,775 $ 1,786