Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 21,421 $ 27,576
Credit card receivable 12,672 10,477
Restricted cash and cash equivalents 499 499
Accounts receivable 11,040 12,294
Inventory 9,853 11,318
Other current assets 7,989 6,786
Due from related parties 376 376
Total current assets 63,850 69,326
Property and equipment, net 282,371 276,120
Operating lease right-of-use assets 255,825 260,331
Goodwill 155,783 155,783
Intangibles, net 133,094 133,111
Deferred tax assets, net 54,028 54,282
Other assets 8,810 9,030
Security deposits 2,261 2,097
Total assets 956,022 960,080
Current liabilities:    
Accounts payable 32,392 30,883
Accrued payroll expenses 25,270 23,897
Accrued expenses 45,292 48,339
Current portion of operating lease liabilities 14,458 15,294
Deferred gift card revenue and other 4,682 6,540
Current portion of long-term debt 6,125 6,125
Other current liabilities 318 313
Total current liabilities 128,537 131,391
Long-term debt, net of current portion, unamortized discount and debt issuance costs 328,880 328,110
Operating lease liabilities, net of current portion 289,782 293,490
Other long-term liabilities 5,687 5,758
Total liabilities 752,886 758,749
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 March 30, 2025 and December 31, 2024 165,676 158,085
Stockholders' equity:    
Common stock, $0.0001 par value, 75,000,000 shares authorized; 34,173,507 issued and 31,043,258 outstanding at March 30, 2025 and 33,994,140 issued and 31,037,843 outstanding at December 31, 2024 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 March 30, 2025 and December 31, 2024
Treasury stock, at cost, 3,130,249 shares at March 30, 2025 and 3,019,654 shares at December 31, 2024 (18,509) (18,202)
Additional paid-in capital 62,005 67,118
Accumulated other comprehensive loss (3,041) (3,028)
Total stockholders' equity 40,458 45,891
Noncontrolling interests (2,998) (2,645)
Total equity 37,460 43,246
Total liabilities, Series A preferred stock and equity $ 956,022 $ 960,080