Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.22.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
REVENUE    
Restaurant sales $ 42,359 $ 8,396
TOTAL REVENUE 44,933 10,930
Restaurant level operating expenses:    
Food, beverage and paper costs 12,301 2,422
Labor and related expenses 12,582 2,201
Other operating expenses 7,860 1,737
Occupancy and related expenses 3,834 773
General and administrative expenses 6,029 2,976
Depreciation and amortization expense 4,444 2,108
Share-based compensation expense 7,376 522
Brand development and co-op advertising expense 553 722
Store closure costs 514 0
Pre-opening costs 474 126
TOTAL OPERATING EXPENSES 55,967 13,587
OPERATING LOSS (11,034) (2,657)
Interest expense (2,071) (8)
Loss on change in value of warrant liability (534) (4,946)
Other (loss) income (33) 114
Loss before income taxes (13,672) (7,497)
Income tax benefit (expense) 112 (713)
Net Loss $ (13,560) $ (8,210)
Weighted average common shares outstanding:    
Basic (in shares) 21,962,165 17,814,336
Diluted (in shares) 21,962,165 17,814,336
Net (loss) income per common share:    
Basic (in USD per share) $ (0.62) $ (0.46)
Diluted (in USD per share) $ (0.62) $ (0.46)
Royalty and other fees    
REVENUE    
Revenues $ 2,103 $ 2,023
Royalty - brand development and co-op    
REVENUE    
Revenues $ 471 $ 511