$FAT
Fat Brands, Inc

2024 Q3 Form 10-Q Financial Statement

#000162828024044611 Filed on October 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $143.4M
YoY Change 31.08%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $44.51M
YoY Change 23.3%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.74M
YoY Change 52.5%
% of Gross Profit
Operating Expenses $152.0M
YoY Change 48.48%
Operating Profit -$8.833M
YoY Change -233.41%
Interest Expense -$35.53M
YoY Change 19.62%
% of Operating Profit
Other Income/Expense, Net -$35.78M
YoY Change 9.8%
Pretax Income -$44.61M
YoY Change 71.81%
Income Tax $100.0K
% Of Pretax Income
Net Earnings -$44.76M
YoY Change 81.52%
Net Earnings / Revenue -31.21%
Basic Earnings Per Share -$2.74
Diluted Earnings Per Share -$2.74
COMMON SHARES
Basic Shares Outstanding 17.05M shares
Diluted Shares Outstanding 17.05M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.84M
YoY Change -80.87%
Cash & Equivalents $66.74M
Short-Term Investments
Other Short-Term Assets $14.05M
YoY Change 132.62%
Inventory $8.468M
Prepaid Expenses
Receivables $18.26M
Other Receivables $0.00
Total Short-Term Assets $91.42M
YoY Change -43.95%
LONG-TERM ASSETS
Property, Plant & Equipment $104.9M
YoY Change 26.84%
Goodwill $305.1M
YoY Change 4.02%
Intangibles $608.5M
YoY Change -1.07%
Long-Term Investments
YoY Change
Other Assets $5.779M
YoY Change 23.19%
Total Long-Term Assets $1.248B
YoY Change 12.2%
TOTAL ASSETS
Total Short-Term Assets $91.42M
Total Long-Term Assets $1.248B
Total Assets $1.340B
YoY Change 5.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.05M
YoY Change 63.19%
Accrued Expenses $66.71M
YoY Change 25.46%
Deferred Revenue $2.300M
YoY Change 6.24%
Short-Term Debt $0.00
YoY Change -100.0%
Long-Term Debt Due $49.10M
YoY Change 8.63%
Total Short-Term Liabilities $302.2M
YoY Change 13.89%
LONG-TERM LIABILITIES
Long-Term Debt $1.178B
YoY Change 7.69%
Other Long-Term Liabilities $3.439M
YoY Change 42.17%
Total Long-Term Liabilities $1.181B
YoY Change 7.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $302.2M
Total Long-Term Liabilities $1.181B
Total Liabilities $1.726B
YoY Change 14.73%
SHAREHOLDERS EQUITY
Retained Earnings -$391.2M
YoY Change 61.32%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$386.2M
YoY Change
Total Liabilities & Shareholders Equity $1.340B
YoY Change 5.02%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income -$44.76M
YoY Change 81.52%
Depreciation, Depletion And Amortization $10.74M
YoY Change 52.5%
Cash From Operating Activities -$3.221M
YoY Change 76.01%
INVESTING ACTIVITIES
Capital Expenditures $7.872M
YoY Change 23.0%
Acquisitions
YoY Change
Other Investing Activities $85.00K
YoY Change -108.02%
Cash From Investing Activities -$7.787M
YoY Change 4.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.639M
YoY Change -93.92%
NET CHANGE
Cash From Operating Activities -3.221M
Cash From Investing Activities -7.787M
Cash From Financing Activities 4.639M
Net Change In Cash -6.369M
YoY Change -109.51%
FREE CASH FLOW
Cash From Operating Activities -$3.221M
Capital Expenditures $7.872M
Free Cash Flow -$11.09M
YoY Change 34.79%

Facts In Submission

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CY2024Q3 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
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http://fasb.org/us-gaap/2024#AssetsHeldForSaleNotPartOfDisposalGroupCurrent http://fatbrands.com/20240929#OperatingLeaseRightOfUseAssetNoncurrent
CY2023Q4 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2024#AssetsHeldForSaleNotPartOfDisposalGroupCurrent http://fatbrands.com/20240929#OperatingLeaseRightOfUseAssetNoncurrent
dei Entity Address Address Line1
EntityAddressAddressLine1
9720 Wilshire Blvd.
dei Entity Address Address Line2
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Suite 500
dei Entity Address City Or Town
EntityAddressCityOrTown
Beverly Hills
dei Entity Address Postal Zip Code
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90212
dei City Area Code
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(310)
dei Local Phone Number
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319-1850
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fat Accretion Of Loan Fees And Interest1
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fat Number Of Sales Channels
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<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of estimates in the preparation of the condensed consolidated financial statements</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Significant estimates include the determination of fair values of goodwill and other intangible assets, allowances for uncollectible notes receivable and accounts receivable, and the valuation allowance related to deferred tax assets. Estimates and assumptions also affect the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div>
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755087 shares
CY2023Q3 fat Share Based Compensation Arrangement By Share Based Payment Award Options Granted In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedInPeriodFairValue
500000 usd
fat Share Based Compensation Arrangement By Share Based Payment Award Options Granted In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedInPeriodFairValue
1500000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
500000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1100000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2000000.0 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2700000 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1200000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y9M18D
fat Stock Issued During Period Shares Exercise Of Warrants
StockIssuedDuringPeriodSharesExerciseOfWarrants
154259 shares
fat Stock Issued During Period Value Exercise Of Warrants
StockIssuedDuringPeriodValueExerciseOfWarrants
400000 usd
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
143400000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
109400000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
447400000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
321800000 usd
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001628280-24-044611-index-headers.html Edgar Link pending
0001628280-24-044611-index.html Edgar Link pending
0001628280-24-044611.txt Edgar Link pending
0001628280-24-044611-xbrl.zip Edgar Link pending
a3q24form10-qexx311.htm Edgar Link pending
a3q24form10-qexx312.htm Edgar Link pending
a3q24form10-qexx321.htm Edgar Link pending
fat-20240929.htm Edgar Link pending
fat-20240929.xsd Edgar Link pending
fat-20240929_g1.jpg Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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fat-20240929_def.xml Edgar Link unprocessable
fat-20240929_lab.xml Edgar Link unprocessable
fat-20240929_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
fat-20240929_htm.xml Edgar Link completed
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report.css Edgar Link pending
Show.js Edgar Link pending
fat-20240929_cal.xml Edgar Link unprocessable