Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.24.1.1.u2
Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Apr. 01, 2024
Apr. 03, 2023
Revenue    
Total Revenue $ 42,879 $ 45,726
Restaurant level operating expenses:    
Food, beverage and paper costs 10,977 11,611
Labor and related expenses 13,912 13,216
Other operating expenses 7,128 7,456
Occupancy and related expenses 3,890 3,834
General and administrative expenses 5,309 6,573
Depreciation and amortization expense 3,044 3,227
Share-based compensation expense 954 4,674
Brand development, co-op and advertising expense 1,252 1,096
Lease termination recovery (56) 0
Store closure costs 435 121
Restructuring costs 79 918
Pre-opening costs 163 0
Operating Loss (4,208) (7,000)
Other income, net 3 0
Gain (loss) on change in fair value of warrant liability 144 (73)
Interest expense, net (2,477) (2,078)
Loss before income taxes (6,538) (9,151)
Income tax provision 0 0
Net Loss (6,538) (9,151)
Net Loss attributable to non-controlling interest in subsidiaries 0 0
Net Loss attributable to BurgerFi $ (6,538) $ (9,151)
Weighted average common shares outstanding:    
Basic (in shares) 27,021,716 23,568,032
Diluted (in shares) 27,021,716 23,568,032
Net loss per common share:    
Basic (in USD per share) $ (0.24) $ (0.39)
Diluted (in USD per share) $ (0.24) $ (0.39)
Restaurant Sales    
Revenue    
Revenue from contract with customer $ 40,885 $ 43,316
Royalty and other fees    
Revenue    
Revenue not from contract with customer 1,558 1,969
Royalty - brand development and co-op    
Revenue    
Revenue not from contract with customer $ 436 $ 441