v3.26.1
Segment Information
 3 Months Ended
Mar. 28, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
In the fourth quarter of 2025, as a result of the announcement of the sale of ICW and the related results reflected within discontinued operations, the Company re-evaluated its operating segments, which resulted in a change to the reportable segments. As of the fourth quarter of 2025, the Company has the following reportable segments: Take 5, Franchise Brands, and Auto Glass Now.
The Take 5 segment is primarily composed of Take 5 Oil. Take 5 Oil services a combination of retail and commercial customers, such as fleet operators. Take 5 Oil’s services include oil changes as well as certain as-needed automotive maintenance enhancements, including differential fluid exchanges, coolant services and air and cabin filters. The Take 5 segment also includes supply and other revenue and franchise royalties and fees.
The Franchise Brands segment is primarily composed of the Company’s portfolio of franchise brands, which include: Meineke, Maaco, CARSTAR, ABRA, Fix Auto, 1-800 Radiator, Uniban, Automotive Training Institute (“ATI”), along with other smaller brands and services for retail, commercial, and insurance customers. The Franchise Brands segment also includes supply and other revenue, and company-operated store sales.
The Auto Glass Now segment provides auto glass repair, replacement, and calibration services to commercial, retail, and insurance customers within the U.S, as well as third party administration and claims management services to commercial and insurance customers within the U.S. The Auto Glass Now segment derives substantially all of its revenue from company-operated store sales.
The consolidated financial results include “Corporate and Other” activity. Advertising fund contribution revenue and related costs as well as shared service costs, which are related to finance, information technology, human resources, legal, supply chain, and other support services are recorded within Corporate and Other. Corporate and Other activity includes the adjustments necessary to eliminate certain intercompany transactions, namely supply sales fulfilled by the Take 5 segment to the Franchise Brands segment as well as discrete activity associated with the U.S. Car Wash business that was not classified as discontinued operations.
The Chief Operating Decision Maker (“CODM”) is the Chief Executive Officer. The CODM evaluates segment performance and allocates resources, including capital expenditures and variable compensation, to each segment primarily as part of the annual budget process based on Adjusted EBITDA. The CODM reviews budget-to-actual results to assess performance and adjust resource allocations as necessary. The CODM routinely reviews revenue and Adjusted EDITDA segment results.
Adjusted EBITDA is defined as earnings from continuing operations before interest expense, net, income tax expense, and depreciation and amortization, with further amounts related to acquisition related costs, cloud computing amortization, share-based compensation, loss on debt extinguishment, foreign currency transaction related gains or losses, and certain non-recurring, non-core, infrequent or unusual charges. Adjusted EBITDA is a supplemental measure of the operating performance of the Company’s segments and may not be comparable to similar measures reported by other companies. Other segment items primarily include, but are not limited to, payroll and payroll-related costs, costs of inventory and supplies, utilities, and rent expense as well as marketing costs associated with non-franchised businesses within the reportable segments. No asset information has been provided for these reportable segments as the CODM does not regularly review asset information by reportable segment.
Certain information within the tables below has been revised to conform to current year presentation to reflect financial results for continuing operations and segment changes.
Segment results for the three months ended March 28, 2026 and March 29, 2025 are as follows:
Three Months Ended March 28, 2026
(in thousands)Take 5Franchise BrandsAuto Glass NowTotal
Franchise royalties and fees$10,721 $36,542 $— $47,263 
Company-operated store sales271,712 2,514 62,906 337,132 
Supply and other revenue40,778 30,331 151 71,260 
Total segment net revenue$323,211 $69,387 $63,057 $455,655 
Corporate and Other revenue28,786 
Total consolidated net revenue$484,441 
Other segment items213,739 28,030 57,123 
Reportable segment Adjusted EBITDA$109,472 $41,357 $5,934 $156,763 
Less:
Corporate and Other loss52,691 
Depreciation and amortization21,331 
Interest expense, net23,452 
Acquisition related costs(a)
170 
Non-core items and project costs, net(b)
2,492 
Cloud computing amortization(c)
5,185 
Share-based compensation expense(d)
6,348 
Foreign currency transaction loss, net(e)
8,930 
Impairment, (gain) loss on sale of assets, net, and closed store expenses(f)
1,106 
Loss on debt extinguishment(g)
1,820 
Income before taxes from continuing operations$33,238 
Three Months Ended March 29, 2025
As Restated
(in thousands)Take 5Franchise BrandsAuto Glass NowTotal
Franchise royalties and fees$8,357 $36,353 $— $44,710 
Company-operated store sales250,800 3,992 59,339 314,131 
Supply and other revenue35,628 29,470 1 65,099 
Total segment net revenue$294,785 $69,815 $59,340 $423,940 
Corporate and Other revenue23,672 
Total consolidated net revenue$447,612 
Other segment items198,390 26,935 54,023 
Reportable segment Adjusted EBITDA$96,395 $42,880 $5,317 $144,592 
Less:
Corporate and Other loss42,264 
Depreciation and amortization20,311 
Interest expense, net36,266 
Acquisition related costs(a)
15 
Non-core items and project costs, net(b)
3,210 
Cloud computing amortization(c)
1,881 
Share-based compensation expense(d)
12,260 
Foreign currency transaction gain, net(e)
(471)
Impairment, (gain) loss on sale of assets, net, and closed store expenses(f)
9,894 
Income before taxes from continuing operations$18,962 
(a)Consists of acquisition costs as reflected within the consolidated statements of operations, including legal, consulting and other fees, and expenses incurred in connection with acquisitions completed during the applicable period, as well as inventory rationalization expenses incurred in connection with acquisitions. As acquisitions occur in the future, we expect to incur similar costs and, under U.S. GAAP, such costs relating to acquisitions are expensed as incurred and not capitalized.
(b)Consists of discrete items and project costs, including third-party professional costs associated with strategic transformation initiatives as well as non-recurring payroll-related costs and non-ordinary course legal settlements.
(c)Includes non-cash amortization expenses relating to cloud computing arrangements.
(d)Represents non-cash share-based compensation expense.
(e)Represents foreign currency transaction (gains) losses, net that primarily related to the remeasurement of the intercompany loans as well as gains and losses on cross-currency swaps.
(f)Consists of the following items (i) asset impairments, (ii) (gains) losses, net on sale leasebacks, disposal of assets, including assets held for sale, or sale of business; and (iii) closed store expenses. See Note 12 for additional information regarding the Seller Note.
(g)Represents charges incurred related to the Company’s partial repayment of the 2020-1 Senior Notes and full repayment of the 2019-2 Senior Notes.