v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Cash flows from operating activities:    
Net income (loss) $ (18,356) $ 12,976
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation of property and equipment 50,832 43,462
Amortization of intangible and other assets 10,399 7,972
Amortization of debt issuance costs and debt discounts 455 455
Non-cash rent 5,021 1,788
Impairment of long-lived assets 10,776 0
Share-based compensation 7,418 15,143
Provision for independent operator and other accounts receivable reserves 6,578 1,947
Deferred income taxes (4,693) 2,077
Other 1,162 745
Changes in operating assets and liabilities:    
Independent operator and other accounts receivable (4,561) 1,006
Merchandise inventories (4,073) (3,112)
Prepaid expenses and other assets (330) 10,973
Income and other taxes payable (1,403) (6,626)
Trade accounts payable 35,782 (3,202)
Accrued and other liabilities 20,484 (33,222)
Accrued compensation 6,068 (8,786)
Operating lease liabilities 11,004 5,842
Net cash provided by operating activities 132,563 49,438
Cash flows from investing activities:    
Advances to independent operators (7,548) (5,541)
Repayments of advances from independent operators 1,862 2,692
Business acquisition, net of cash and cash equivalents acquired 0 (60,774)
Purchases of property and equipment (119,669) (85,131)
Investments in intangible assets and licenses (10,801) (6,532)
Net cash used in investing activities (136,156) (155,286)
Cash flows from financing activities:    
Proceeds from exercise of stock options 395 3,744
Proceeds from revolving credit facility 20,000 90,000
Principal payments on revolving credit facility (20,000) 0
Principal payments on senior term loan (3,750) (3,750)
Principal payments on finance leases (690) (794)
Repurchase of common stock 0 (31,274)
Net cash provided by (used in) financing activities (4,045) 57,926
Net decrease in cash and cash equivalents (7,638) (47,922)
Cash and cash equivalents at beginning of period 62,828 114,987
Cash and cash equivalents at end of period $ 55,190 $ 67,065