Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.21.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Business Acquisition [Line Items]        
TOTAL REVENUE $ 11,782 $ 7,150 $ 22,712 $ 15,407
Restaurant level operating expenses:        
Food, beverage and paper costs 2,693 1,766 5,115 3,588
Labor and related expenses 2,342 1,342 4,484 2,986
Other operating expenses 2,174 1,248 3,969 2,359
Occupancy and related expenses 788 677 1,561 1,246
General and administrative expenses 3,562 1,252 6,539 2,785
Pre-opening costs 502 47 628 106
Share-based compensation expense 2,595   3,117  
Depreciation and amortization expense 2,171 252 4,279 496
Brand development and co-op advertising expense 651 439 1,373 907
TOTAL OPERATING EXPENSES 17,478 7,023 31,065 14,473
OPERATING (LOSS) INCOME (5,696) 127 (8,353) 934
Other income 2,128   2,242  
Gain on change in value of warrant liability 12,619   7,673  
Interest expense (33) (57) (41) (87)
Income before income taxes 9,018 70 1,521 847
Income tax expense (27)   (740)  
Net Income 8,991 70 781 847
Net Income Attributable to Non-Controlling Interests (predecessor)   11   16
Net Income Attributable to common shareholders (successor) and Controlling Interests (predecessor) $ 8,991 59 $ 781 831
Weighted average common shares outstanding        
Basic 17,888,140   17,852,493  
Diluted 18,752,938   20,145,284  
Net Income (Loss) per common share        
Basic $ 0.50   $ 0.04  
Diluted $ (0.19)   $ (0.34)  
Restaurant Sales Revenues [Member]        
Business Acquisition [Line Items]        
TOTAL REVENUE $ 8,983 5,597 $ 17,379 11,640
Royalty And Other Revenues [Member]        
Business Acquisition [Line Items]        
TOTAL REVENUE 2,164 1,221 4,079 2,917
Royalty Brand Development And Coop Revenues [Member]        
Business Acquisition [Line Items]        
TOTAL REVENUE 545 234 1,056 651
Franchise Fees [Member]        
Business Acquisition [Line Items]        
TOTAL REVENUE $ 90 $ 98 $ 198 $ 199