v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 29, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (101,680) $ (77,675)
Adjustments to reconcile net loss to net cash used in operating activities:    
Deferred income taxes 812 4,107
Depreciation and amortization 18,773 20,440
Share-based compensation 13,132 1,422
Operating lease assets and liabilities 162 3,112
Accretion of loan fees and interest 7,212 11,741
Net loss (gain) on extinguishment of debt 151 (427)
Provision for bad debts 1,201 (1,561)
Loss on disposal of fixed assets 77 158
Change in:    
Accounts receivable 2,110 853
Inventory 691 440
Other current and noncurrent assets (1,441) (3,731)
Deferred income (1,051) 230
Accounts payable 3,764 (3,851)
Accrued expenses and other liabilities 2,502 699
Accrued advertising 1,177 (1,419)
Accrued interest payable 10,050 4,513
Other current and noncurrent liabilities 2,234 (1,665)
Total adjustments 61,556 35,061
Net cash used in operating activities (40,124) (42,614)
Cash flows from investing activities:    
Purchases of property and equipment (6,949) (14,338)
Proceeds from sale of property and equipment 4,432 0
Payments received on notes receivable 90 162
Payment of acquisition purchase price payable 0 (4,000)
Net cash used in investing activities (2,427) (18,176)
Cash flows from financing activities:    
Proceeds from borrowings, net of issuance costs 56,108 93,670
Repayments of borrowings (39,457) (45,146)
Proceeds from issuance of common and preferred shares 5,352 2,034
Dividends paid on common shares 0 (4,757)
Dividends paid on preferred shares (2,921) (3,801)
Net cash provided by financing activities 19,082 42,000
Net decrease in cash and restricted cash (23,469) (18,790)
Cash and restricted cash at beginning of the period 67,389 91,903
Cash and restricted cash at end of the period 43,920 73,113
Supplemental disclosures of cash flow information:    
Cash paid for interest 57,883 58,546
Cash paid for income taxes 802 1,456
Supplemental schedule of non-cash financing activity:    
Dividend of Twin Hospitality Group Inc. Class A common stock $ 5,218 $ 0