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

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 28, 2025
Dec. 31, 2024
Operating activities:    
Net loss $ (93,585) $ (17,927)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 43,192 34,096
Non-cash lease termination and exit costs 5,692 692
Stock-based compensation 5,440 6,017
Amortization of debt issuance costs and debt original issuance discounts 3,570 2,635
Deferred taxes 59,469 (9,180)
Non-cash loss on early debt extinguishment   1,674
Loss on impairment of non-current assets 10,610 0
Changes in operating assets and liabilities, net of acquisition:    
Accounts receivable and credit card receivable (12,099) 296
Inventory 1,479 (729)
Other current assets (884) 139
Due from related parties 376  
Security deposits (157) (497)
Other assets (1,225) (3,133)
Accounts payable 6,084 3,121
Accrued expenses (4,935) 16,053
Operating lease liabilities and right-of-use assets 5,424 9,315
Other liabilities 1,861 1,616
Net cash provided by operating activities 30,312 44,188
Investing activities:    
Purchase of property and equipment (57,591) (71,555)
Acquisition related payments, net of cash acquired   (369,838)
Net cash used in investing activities (57,591) (441,393)
Financing activities:    
Borrowings of long-term debt 22,524 333,829
Repayments of long-term debt and financing lease liabilities (16,947) (75,471)
Issuance of Series A preferred stock net of discount   138,943
Issuance of warrants to Series A preferred stockholders   10,771
Exercise of stock options   242
Tax-withholding obligation on stock-based compensation (603) (827)
Purchase of treasury stock (1,106) (3,151)
Net cash provided by financing activities 3,868 404,336
Effect of exchange rate changes on cash 3 (103)
Net change in cash and cash equivalents and restricted cash and cash equivalents (23,408) 7,028
Cash and cash equivalents and restricted cash and cash equivalents, beginning of period 28,075 21,047
Cash and cash equivalents and restricted cash and cash equivalents, end of period 4,667 28,075
Supplemental disclosure of cash flow data:    
Interest paid, net of capitalized interest 37,778 24,501
Income taxes paid, net of refunds 1,211 497
Accrued purchases of property and equipment $ 9,226 $ 11,194