v3.26.1
Segment Information
 6 Months Ended
Jun. 27, 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 includes company-operated store sales, 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 EBITDA 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 and six months ended June 27, 2026 and June 28, 2025 are as follows:
Three Months Ended June 27, 2026
(in thousands)Take 5Franchise BrandsAuto Glass NowTotal
Franchise royalties and fees$11,696 $39,966 $— $51,662 
Company-operated store sales277,111 2,801 72,692 352,604 
Supply and other revenue46,012 26,833 202 73,047 
Total segment net revenue$334,819 $69,600 $72,894 $477,313 
Corporate and Other revenue30,103 
Total consolidated net revenue$507,416 
Other segment items219,937 28,437 69,412 
Reportable segment Adjusted EBITDA$114,882 $41,163 $3,482 $159,527 
Less:
Corporate and Other loss52,513 
Depreciation and amortization22,157 
Interest expense, net20,791 
Acquisition related costs(a)
118 
Non-core items and project costs, net(b)
1,511 
Cloud computing amortization(c)
5,450 
Share-based compensation expense(d)
5,101 
Foreign currency transaction loss, net(e)
1,212 
Impairment, (gain) loss on sale of assets, net, and closed store expenses(f)
(373)
Income before taxes from continuing operations$51,047 
Three Months Ended June 28, 2025
As Restated
(in thousands)Take 5Franchise BrandsAuto Glass NowTotal
Franchise royalties and fees$9,547 $39,633 $— $49,180 
Company-operated store sales257,449 4,654 71,177 333,280 
Supply and other revenue37,228 28,697 4 65,929 
Total segment net revenue$304,224 $72,984 $71,181 $448,389 
Corporate and Other revenue26,824 
Total consolidated net revenue$475,213 
Other segment items197,686 29,435 61,100 
Reportable segment Adjusted EBITDA$106,538 $43,549 $10,081 $160,168 
Less:
Corporate and Other loss45,216 
Depreciation and amortization19,129 
Interest expense, net31,146 
Acquisition related costs(a)
983 
Non-core items and project costs, net(b)
(1,134)
Cloud computing amortization(c)
3,948 
Share-based compensation expense(d)
10,663 
Foreign currency transaction gain, net(e)
(8,659)
Impairment, (gain) loss on sale of assets, net, and closed store expenses(f)
34,314 
Income before taxes from continuing operations$24,562 
Six Months Ended June 27, 2026
(in thousands)Take 5Franchise BrandsAuto Glass NowTotal
Franchise royalties and fees$22,417 $76,508 $— $98,925 
Company-operated store sales548,823 5,315 135,598 689,736 
Supply and other revenue86,790 57,164 353 144,307 
Total segment net revenue$658,030 $138,987 $135,951 $932,968 
Corporate and Other revenue58,889 
Total consolidated net revenue$991,857 
Other segment items433,676 56,467 126,535 
Reportable segment Adjusted EBITDA$224,354 $82,520 $9,416 $316,290 
Less:
Corporate and Other loss105,204 
Depreciation and amortization43,488 
Interest expense, net44,243 
Acquisition related costs(a)
288 
Non-core items and project costs, net(b)
4,003 
Cloud computing amortization(c)
10,635 
Share-based compensation expense(d)
11,449 
Foreign currency transaction loss, net(e)
10,142 
Impairment, loss on sale of assets, net, and closed store expenses(f)
733 
Loss on debt extinguishment(g)
1,820 
Income before taxes from continuing operations$84,285 
Six Months Ended June 28, 2025
As Restated
(in thousands)Take 5Franchise BrandsAuto Glass NowTotal
Franchise royalties and fees$17,904 $75,986 $— $93,890 
Company-operated store sales508,249 8,646 130,516 647,411 
Supply and other revenue72,856 58,167 5 131,028 
Total segment net revenue$599,009 $142,799 $130,521 $872,329 
Corporate and Other revenue50,496 
Total consolidated net revenue$922,825 
Other segment items396,076 56,370 115,123 
Reportable segment Adjusted EBITDA$202,933 $86,429 $15,398 $304,760 
Less:
Corporate and Other loss87,480 
Depreciation and amortization39,440 
Interest expense, net67,412 
Acquisition related costs(a)
998 
Non-core items and project costs, net(b)
2,076 
Cloud computing amortization(c)
5,829 
Share-based compensation expense(d)
22,923 
Foreign currency transaction gain, net(e)
(9,130)
Impairment, loss on sale of assets, net, and closed store expenses(f)
44,208 
Income before taxes from continuing operations$43,524 
(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 reserves and 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) 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.