v3.26.1
Revenue
 6 Months Ended
Jun. 28, 2026
Revenue [Abstract]  
Revenue Revenue
Disaggregation of Revenue

The following tables disaggregate revenue by segment and source:
Wendy’s U.S.Wendy’s InternationalGlobal Real Estate & DevelopmentTotal
Three Months Ended June 28, 2026
Sales at Company-operated restaurants$234,007 $6,009 $— $240,016 
Franchise royalty revenue103,749 19,825 — 123,574 
Franchise fees22,126 3,726 345 26,197 
Franchise rental income— — 53,363 53,363 
Advertising funds revenue117,715 9,706 — 127,421 
Total revenues$477,597 $39,266 $53,708 $570,571 
Three Months Ended June 29, 2025
Sales at Company-operated restaurants$225,973 $6,880 $— $232,853 
Franchise royalty revenue112,842 19,391 — 132,233 
Franchise fees20,972 2,569 526 24,067 
Franchise rental income— — 60,411 60,411 
Advertising funds revenue101,355 10,010 — 111,365 
Total revenues$461,142 $38,850 $60,937 $560,929 
Wendy’s U.S.Wendy’s InternationalGlobal Real Estate & DevelopmentTotal
Six Months Ended June 28, 2026
Sales at Company-operated restaurants$453,302 $12,211 $— $465,513 
Franchise royalty revenue201,057 38,707 — 239,764 
Franchise fees50,409 6,501 992 57,902 
Franchise rental income— — 112,267 112,267 
Advertising funds revenue216,988 18,774 — 235,762 
Total revenues$921,756 $76,193 $113,259 $1,111,208 
Six Months Ended June 29, 2025
Sales at Company-operated restaurants$438,717 $13,646 $— $452,363 
Franchise royalty revenue217,248 36,660 — 253,908 
Franchise fees41,676 4,655 1,209 47,540 
Franchise rental income— — 118,865 118,865 
Advertising funds revenue193,115 18,610 — 211,725 
Total revenues$890,756 $73,571 $120,074 $1,084,401 

Contract Balances

The following table provides information about receivables and contract liabilities (deferred franchise fees) from contracts with customers:
June 28,
2026 (a)		December 28, 2025 (a)
Receivables, which are included in “Accounts and notes receivable, net” (b)
$68,178 $59,060 
Receivables, which are included in “Advertising funds restricted assets”
83,169 75,083 
Deferred franchise fees (c)90,724 98,496 
_______________

(a)Excludes funds collected from the sale of gift cards, which are primarily reimbursed to franchisees upon redemption at franchised restaurants and do not ultimately result in the recognition of revenue in the Company’s condensed consolidated statements of operations.

(b)Includes receivables related to “Sales” and “Franchise royalty revenue and fees.”

(c)Deferred franchise fees are included in “Accrued expenses and other current liabilities” and “Deferred franchise fees” and totaled $9,053 and $81,671, respectively, as of June 28, 2026, and $10,540 and $87,956, respectively, as of December 28, 2025.

Significant changes in deferred franchise fees are as follows:
Six Months Ended
June 28,
2026		June 29,
2025
Deferred franchise fees at beginning of period$98,496 $99,411 
Revenue recognized during the period
(8,598)(4,438)
New deferrals due to cash received and other826 4,424 
Deferred franchise fees at end of period$90,724 $99,397 
Anticipated Future Recognition of Deferred Franchise Fees

The following table reflects the estimated franchise fees to be recognized in the future related to performance obligations that are unsatisfied at the end of the period:
Estimate for fiscal year:
2026 (a)$9,052 
20276,561 
20286,395 
20296,291 
20306,187 
Thereafter56,238 
$90,724 
_______________

(a)Represents franchise fees expected to be recognized for the remainder of 2026, which includes development-related franchise fees expected to be recognized over a duration of one year or less.