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

Revenue recognition

v3.26.1
Revenue recognition
12 Months Ended
Dec. 28, 2025
Revenue recognition  
Revenue recognition

Note 9 – Revenue recognition

The following table provides information about contract liabilities, which include deferred license revenue, deferred gift card revenue, advanced party deposits and the Friends with Benefits rewards program (in thousands):

  ​ ​ ​

December 28,

  ​ ​ ​

December 31,

2025

2024

Deferred license revenue (1)

 

116

 

204

Deferred gift card revenue (2)

6,074

5,984

Advanced party deposits (2)

745

556

Friends with Benefits rewards program (3)

450

201

(1) Includes the current and long-term portion of deferred license revenue which are included in other current liabilities and other long-term liabilities on the consolidated balance sheets.
(2) Deferred gift card revenue and advance party deposits on goods and services yet to be provided are included in deferred gift card revenue and other on the consolidated balance sheets.
(3) Friends with Benefits rewards program is included in accrued expenses on the consolidated balance sheets.

Revenue recognized during the period from contract liabilities as of the preceding fiscal year end date is as follows (in thousands):

  ​ ​ ​

December 28,

  ​ ​ ​

December 31,

2025

2024

Revenue recognized from deferred license revenue

$

45

$

33

Revenue recognized from deferred gift card revenue

 

4,157

 

1,245

Revenue recognized from advanced party deposits

523

361

The estimated deferred license revenue to be recognized in the future related to performance obligations that are unsatisfied as of December 28, 2025 were as follows for each year ending (in thousands):

2026

  ​ ​ ​

$

25

2027

 

22

2028

 

22

2029

 

16

2030

 

3

Thereafter

 

28

Total future estimated deferred license revenue

$

116