v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 29, 2025
Dec. 29, 2024
Current assets    
Cash $ 7,648 $ 23,383
Restricted cash 25,784 25,239
Accounts receivable, net 16,111 19,422
Inventory 7,729 8,420
Assets classified as held-for-sale 0 370
Other current assets 13,779 11,200
Total current assets 71,051 88,034
Non-current restricted cash 10,488 18,767
Operating lease right-of-use assets 196,000 198,091
Goodwill 285,337 285,337
Other intangible assets, net 587,894 595,689
Property and equipment, net 89,837 97,390
Other assets 7,153 5,870
Total assets 1,247,760 1,289,178
Current liabilities    
Accounts payable 42,489 38,725
Accrued expenses and other liabilities 79,898 68,084
Deferred income, current portion 2,200 2,275
Accrued advertising 6,484 5,307
Accrued interest payable 34,887 24,837
Dividend payable on preferred shares 4,429 1,389
Liabilities related to assets classified as held-for-sale 0 393
Operating lease liability, current portion 15,756 16,229
Redeemable preferred stock 91,836 91,836
Long-term debt, current portion 57,702 49,241
Total current liabilities 335,681 298,316
Deferred income, net of current portion 19,371 20,347
Deferred income tax liabilities, net 14,584 13,772
Operating lease liability, net of current portion 198,941 200,132
Long-term debt, net of current portion 1,218,217 1,208,997
Other liabilities 4,166 3,326
Total liabilities 1,790,960 1,744,890
Commitments and contingencies (Note 13)
Stockholders’ deficit    
Preferred stock and additional paid-in-capital, $0.0001 par value; 15,000,000 shares authorized; 4,493,582 shares issued and outstanding at June 29, 2025 and 3,591,706 shares issued and outstanding at December 29, 2024; liquidation preference $25 per share 41,461 40,837
Class A common stock and Class B common stock and additional paid-in capital as of June 29, 2025: $0.0001 par value per share; 51,600,000 shares authorized (Class A 50,000,000, Class B 1,600,000); 17,885,205 shares issued and outstanding (Class A 16,614,400, Class B 1,270,805). Common stock and additional paid-in capital as of December 29, 2024: $0.0001 par value; 51,600,000 shares authorized; 17,254,683 shares issued and outstanding (Class A 15,983,878, Class B 1,270,805) (24,357) (37,925)
Accumulated deficit (553,563) (458,624)
Stockholders’ deficit attributable to FAT Brands Inc. (536,459) (455,712)
Non-controlling interest (6,741) 0
Total stockholders' deficit (543,200) (455,712)
Total liabilities and stockholders' deficit $ 1,247,760 $ 1,289,178