Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 28, 2025
Current assets:    
Cash and cash equivalents $ 6,121 $ 4,168
Credit card receivable 11,825 19,480
Restricted cash and cash equivalents 499 499
Accounts receivable 11,011 15,389
Inventory 9,409 9,839
Other current assets 7,608 7,521
Total current assets 46,473 56,896
Property and equipment, net 281,291 278,195
Operating lease right-of-use assets 253,592 253,228
Goodwill 155,783 155,783
Intangibles, net 128,939 128,988
Other assets 8,910 8,852
Security deposits 2,220 2,254
Total assets 877,208 884,196
Current liabilities:    
Accounts payable 33,612 36,633
Accrued payroll expenses 21,780 19,286
Accrued expenses 44,913 46,356
Current portion of operating lease liabilities 13,839 13,803
Deferred gift card revenue and other 5,414 6,819
Current portion of long-term debt 9,432 9,302
Other current liabilities 1,188 1,017
Total current liabilities 130,178 133,216
Long-term debt, net of current portion, unamortized discount and debt issuance costs 325,575 334,013
Operating lease liabilities, net of current portion 294,683 293,985
Other long-term liabilities 6,221 6,319
Deferred tax liabilities, net 5,187 5,187
Total liabilities 761,844 772,720
Commitments and contingencies (Note 16)
Temporary equity:    
Series A preferred stock, $0.0001 par value, 160,000 shares authorized; 160,000 issued and outstanding at March 29, 2026 and December 28, 2025 200,698 191,303
Stockholders' deficit:    
Common stock, $0.0001 par value, 75,000,000 shares authorized; 34,786,350 issued and 31,506,361 outstanding at March 29, 2026 and 34,520,226 issued and 31,242,344 outstanding at December 28, 2025 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 29, 2026 and December 28, 2025
Treasury stock, at cost, 3,402,881 shares at March 29, 2026 and December 28, 2025 (19,308) (19,308)
Additional paid-in capital 31,242 39,712
Accumulated deficit (90,014) (93,216)
Accumulated other comprehensive loss (3,055) (3,029)
Total stockholders' deficit (81,132) (75,838)
Noncontrolling interests (4,202) (3,989)
Total deficit (85,334) (79,827)
Total liabilities, Series A preferred stock and stockholders' deficit $ 877,208 $ 884,196