Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 27,576 $ 21,047
Credit card receivable 10,477 7,234
Restricted cash and cash equivalents 499  
Accounts receivable 12,294 10,030
Inventory 11,318 6,184
Other current assets 6,786 1,809
Due from related parties 376 376
Total current assets 69,326 46,680
Property and equipment, net 276,120 139,908
Operating lease right-of-use assets 260,204 95,075
Goodwill 155,783  
Intangibles, net 133,111 15,306
Deferred tax assets, net 53,682 14,757
Other assets 9,030 4,636
Security deposits 2,097 883
Total assets 959,353 317,245
Current liabilities:    
Accounts payable 30,883 19,089
Accrued payroll expenses 23,897 5,655
Accrued expenses 48,339 22,678
Current portion of operating lease liabilities 14,998 6,897
Deferred gift card revenue and other 6,540 2,077
Current portion of long-term debt 6,125 1,500
Other current liabilities 313 266
Total current liabilities 131,095 58,162
Long-term debt, net of current portion, unamortized discount and debt issuance costs 328,110 70,410
Operating lease liabilities, net of current portion 291,785 120,481
Other long-term liabilities 5,758 832
Total liabilities 756,748 249,885
Commitments and contingencies (Note 17)
Temporary equity:    
Series A preferred stock, $0.0001 par value, 160,000 shares authorized; 160,000 issued and outstanding at December 31, 2024 and 0 issued and outstanding at December 31, 2023 158,085  
Stockholders' equity:    
Common stock, $0.0001 par value, 75,000,000 shares authorized; 33,994,140 issued and 31,037,843 outstanding at December 31, 2024 and 33,560,428 shares issued and 31,283,975 outstanding at December 31, 2023 3 3
Preferred stock, other than Series A preferred stock, $0.0001 par value, 9,840,000 shares authorized; no shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively
Treasury stock, at cost, 3,019,654 shares at December 31, 2024 and 2,276,453 shares at December 31, 2023 (18,202) (15,051)
Additional paid-in capital 68,392 58,270
Retained earnings   28,884
Accumulated other comprehensive loss (3,028) (2,930)
Total stockholders' equity 47,165 69,176
Noncontrolling interests (2,645) (1,816)
Total stockholders' equity 44,520 67,360
Total liabilities, Series A preferred stock and stockholders' equity $ 959,353 $ 317,245