Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.23.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Jan. 02, 2023
Dec. 31, 2021
REVENUE    
Restaurant sales $ 167,201 $ 57,790
Total Revenue 178,720 68,867
Restaurant level operating expenses:    
Food, beverage and paper costs 48,487 17,153
Labor and related expenses 49,785 16,272
Other operating expenses 30,277 12,039
Occupancy and related expenses 15,607 4,940
General and administrative expenses 25,974 17,300
Depreciation and amortization expense 17,138 10,060
Share-based compensation expense 10,239 7,573
Brand development, co-op and advertising expense 3,870 2,462
Goodwill and intangible asset impairment 66,569 114,797
Asset impairment 6,946 0
Store closure costs 1,949 0
Store closure costs 1,459 0
Pre-opening costs 474 1,905
Operating Loss (100,054) (135,634)
Other income, net 2,675 2,047
Gain on change in value of warrant liability 2,511 13,811
Interest expense, net (8,659) (1,406)
Loss before Income Taxes (103,527) (121,182)
Income tax benefit (expense) 95 (312)
Net Loss $ (103,432) $ (121,494)
Weighted average common shares outstanding:    
Basic (in shares) 22,173,694 18,408,247
Diluted (in shares) 22,173,694 18,624,447
Net Loss per common share:    
Basic (in shares) $ (4.66) $ (6.60)
Diluted (in shares) $ (4.66) $ (7.20)
Royalty and other fees    
REVENUE    
Other revenues $ 9,733 $ 9,090
Royalty - brand development and co-op    
REVENUE    
Other revenues $ 1,786 $ 1,987