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

CONSOLIDATED BALANCE SHEETS

v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 28, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 4,168 $ 27,576
Credit card receivable 19,480 10,477
Restricted cash and cash equivalents 499 499
Accounts receivable 15,389 12,294
Inventory 9,839 11,318
Other current assets 7,521 6,786
Due from related parties   376
Total current assets 56,896 69,326
Property and equipment, net 278,195 276,120
Operating lease right-of-use assets 253,228 260,331
Goodwill 155,783 155,783
Intangibles, net 128,988 133,111
Deferred tax assets, net   54,282
Other assets 8,852 9,030
Security deposits 2,254 2,097
Total assets 884,196 960,080
Current liabilities:    
Accounts payable 36,633 30,883
Accrued payroll expenses 19,286 23,897
Accrued expenses 46,356 48,339
Current portion of operating lease liabilities 13,803 15,294
Deferred gift card revenue and other 6,819 6,540
Current portion of long-term debt 9,302 6,125
Other current liabilities 1,017 313
Total current liabilities 133,216 131,391
Long-term debt, net of current portion, unamortized discount and debt issuance costs 334,013 328,110
Operating lease liabilities, net of current portion 293,985 293,490
Other long-term liabilities 6,319 5,758
Deferred tax liabilities, net 5,187  
Total liabilities 772,720 758,749
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 December 28, 2025 and December 31, 2024 191,303 158,085
Stockholders' (deficit) equity:    
Common stock, $0.0001 par value, 75,000,000 shares authorized; 34,520,226 issued and 31,242,344 outstanding at December 28, 2025 and 33,994,140 shares 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 December 28, 2025 and December 31, 2024, respectively
Treasury stock, at cost, 3,402,881 shares at December 28, 2025 and 3,019,654 shares at December 31, 2024 (19,308) (18,202)
Additional paid-in capital 39,712 67,118
(Accumulated deficit) retained earnings (93,216)  
Accumulated other comprehensive loss (3,029) (3,028)
Total stockholders' (deficit) equity (75,838) 45,891
Noncontrolling interests (3,989) (2,645)
Total (deficit) equity (79,827) 43,246
Total liabilities, Series A preferred stock and stockholders' (deficit) equity $ 884,196 $ 960,080