v3.25.2
Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Rental revenues $ 27,525 $ 29,006 $ 54,180 $ 58,555
Financing revenues 297 464 635 999
Total revenues 230,784 206,267 445,564 412,502
Cost of revenues:        
Franchise expenses 86,444 84,953 167,637 171,426
Bad debt (credit) expense 1,537 (729) 3,197 (546)
Company restaurant expenses 30,908 312 52,914 611
Interest expense from finance leases 715 739 1,404 1,479
Other rental expenses 20,431 20,911 40,952 42,126
Total rental expenses 21,146 21,650 42,356 43,605
Financing expenses 57 81 118 165
Total cost of revenues 138,555 106,996 263,025 215,807
Gross profit 92,229 99,271 182,539 196,695
General and administrative expenses 50,769 46,858 102,106 99,045
Interest expense, net 17,799 17,850 35,526 35,922
Closure and impairment charges 1,155 442 7,001 1,076
Amortization of intangible assets 2,694 2,723 5,410 5,445
Loss on extinguishment of debt 850 0 850 0
Loss (gain) on disposition of assets 31 174 (80) (63)
Income before income taxes 18,931 31,224 31,726 55,270
Income tax provision (5,117) (8,042) (9,715) (14,615)
Net income 13,814 23,182 22,011 40,655
Other comprehensive income (loss) net of tax:        
Foreign currency translation adjustment 2 (3) 3 (5)
Total comprehensive income 13,816 23,179 22,014 40,650
Net income available to common stockholders:        
Net income 13,814 23,182 22,011 40,655
Less: Net income allocated to unvested participating restricted stock (601) (703) (919) (1,206)
Net income available to common stockholders - basic $ 13,213 $ 22,479 $ 21,092 $ 39,449
Net income available to common stockholders per share:        
Basic (in dollars per share) $ 0.89 $ 1.50 $ 1.41 $ 2.64
Diluted (in dollars per share) $ 0.89 $ 1.50 $ 1.41 $ 2.64
Weighted average shares outstanding:        
Basic (in shares) 14,879 14,943 14,907 14,962
Diluted (in shares) 14,879 14,943 14,907 14,962
Franchise Revenues:        
Revenues:        
Revenue from contract with customer $ 174,719 $ 176,498 $ 340,933 $ 352,375
Royalties, franchise fees and other        
Revenues:        
Revenue from contract with customer 101,210 101,980 196,934 202,596
Advertising revenues        
Revenues:        
Revenue from contract with customer 73,509 74,518 143,999 149,779
Company restaurant sales        
Revenues:        
Revenue from contract with customer 28,243 299 49,816 573
Advertising revenues        
Revenues:        
Revenue from contract with customer 73,500 74,500 144,000 149,800
Cost of revenues:        
Franchise expenses 73,509 74,518 143,999 149,779
Other franchise expenses        
Cost of revenues:        
Franchise expenses $ 11,398 $ 11,164 $ 20,441 $ 22,193