Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v3.23.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Apr. 03, 2023
Mar. 31, 2022
Revenue    
Restaurant sales $ 43,316 $ 42,359
Total Revenue 45,726 44,933
Restaurant level operating expenses:    
Food, beverage and paper costs 11,611 12,807
Labor and related expenses 13,216 12,583
Other operating expenses 7,456 7,192
Occupancy and related expenses 3,834 3,833
General and administrative expenses 6,573 6,030
Depreciation and amortization 3,227 4,444
Share-based compensation expense 4,674 7,376
Brand development, co-op and advertising expenses 1,096 714
Store closure costs 121 514
Restructuring costs 918 0
Pre-opening costs 0 474
Total Operating Expenses 52,726 55,967
Operating Loss (7,000) (11,034)
Interest expense, net (2,078) (2,071)
Loss on change in value of warrant liability (73) (534)
Other loss 0 (33)
Loss before income taxes (9,151) (13,672)
Income tax benefit 0 112
Net loss $ (9,151) $ (13,560)
Weighted average common shares outstanding:    
Basic (in shares) 23,568,032 21,962,165
Diluted (in shares) 23,568,032 21,962,165
Net loss per common share:    
Basic (in USD per share) $ (0.39) $ (0.62)
Diluted (in USD per share) $ (0.39) $ (0.62)
Royalty and other fees    
Revenue    
Revenues $ 1,969 $ 2,103
Royalty - brand development and co-op    
Revenue    
Revenues $ 441 $ 471