2023 Q1 Form 10-Q Financial Statement

#000121465923001500 Filed on February 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4
Revenue $34.79M $33.39M
YoY Change 3.54% 1.45%
Cost Of Revenue $28.38M $27.56M
YoY Change 2.49% 3.89%
Gross Profit $6.404M $5.837M
YoY Change 8.45% -8.67%
Gross Profit Margin 18.41% 17.48%
Selling, General & Admin $5.533M $5.730M
YoY Change -4.14% 0.02%
% of Gross Profit 86.4% 98.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $927.0K $932.0K
YoY Change -10.52% -13.54%
% of Gross Profit 14.48% 15.97%
Operating Expenses $5.533M $5.730M
YoY Change -4.14% 0.02%
Operating Profit $817.0K $107.0K
YoY Change 514.29% -91.61%
Interest Expense -$26.00K -$12.00K
YoY Change 136.36% -33.33%
% of Operating Profit -3.18% -11.21%
Other Income/Expense, Net
YoY Change
Pretax Income $791.0K $95.00K
YoY Change -141.2% -92.45%
Income Tax -$9.952M
% Of Pretax Income -1258.15%
Net Earnings $10.62M -$127.0K
YoY Change -594.0% -138.48%
Net Earnings / Revenue 30.53% -0.38%
Basic Earnings Per Share $0.90 -$1.00
Diluted Earnings Per Share $0.89 -$0.01
COMMON SHARES
Basic Shares Outstanding 11.85M shares 11.95M shares
Diluted Shares Outstanding 11.88M shares 12.04M shares

Balance Sheet

Concept 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.367M $6.914M
YoY Change -24.04% -9.5%
Cash & Equivalents $5.367M $6.914M
Short-Term Investments
Other Short-Term Assets $1.745M $1.962M
YoY Change -3.96% 24.81%
Inventory $1.321M $1.394M
Prepaid Expenses
Receivables $603.0K $1.119M
Other Receivables $0.00 $0.00
Total Short-Term Assets $9.036M $11.39M
YoY Change -22.62% -11.51%
LONG-TERM ASSETS
Property, Plant & Equipment $21.84M $22.19M
YoY Change -68.32% -15.7%
Goodwill $5.713M $5.713M
YoY Change 10.93%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $61.02M $50.66M
YoY Change 28546.01% -6.54%
Total Long-Term Assets $82.86M $72.85M
YoY Change 5.16% -9.53%
TOTAL ASSETS
Total Short-Term Assets $9.036M $11.39M
Total Long-Term Assets $82.86M $72.85M
Total Assets $91.90M $84.24M
YoY Change 1.58% -9.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.382M $951.0K
YoY Change 237.87% 60.37%
Accrued Expenses $7.437M $7.038M
YoY Change -37.8% -1.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $15.37M $13.43M
YoY Change 20.85% 4.7%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $43.20M $44.00M
YoY Change -10.73% -10.17%
Total Long-Term Liabilities $43.20M $44.00M
YoY Change -10.73% -10.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.37M $13.43M
Total Long-Term Liabilities $43.20M $44.00M
Total Liabilities $58.57M $57.43M
YoY Change -6.5% -7.08%
SHAREHOLDERS EQUITY
Retained Earnings -$19.83M -$30.45M
YoY Change 11.33%
Common Stock $13.00K $13.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.974M $3.507M
YoY Change 118.1%
Treasury Stock Shares 1.064M shares
Shareholders Equity $32.97M $25.44M
YoY Change
Total Liabilities & Shareholders Equity $91.90M $84.24M
YoY Change 1.58% -9.8%

Cashflow Statement

Concept 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $10.62M -$127.0K
YoY Change -594.0% -138.48%
Depreciation, Depletion And Amortization $927.0K $932.0K
YoY Change -10.52% -13.54%
Cash From Operating Activities $4.312M -$154.0K
YoY Change 181.65% -29.68%
INVESTING ACTIVITIES
Capital Expenditures $700.0K $723.0K
YoY Change -174.47% 205.06%
Acquisitions
YoY Change
Other Investing Activities -$4.398M $4.000K
YoY Change 504.12%
Cash From Investing Activities -$5.098M -$719.0K
YoY Change 205.64% 203.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -761.0K -$1.119M
YoY Change 74.14% 47.24%
NET CHANGE
Cash From Operating Activities 4.312M -$154.0K
Cash From Investing Activities -5.098M -$719.0K
Cash From Financing Activities -761.0K -$1.119M
Net Change In Cash -1.547M -$1.992M
YoY Change 169.51% 63.82%
FREE CASH FLOW
Cash From Operating Activities $4.312M -$154.0K
Capital Expenditures $700.0K $723.0K
Free Cash Flow $3.612M -$877.0K
YoY Change 46.18% 92.32%

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-219000 usd
CY2022Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
723000 usd
CY2021Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
237000 usd
CY2022Q4 us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
4000 usd
CY2022Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-719000 usd
CY2021Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-237000 usd
CY2022Q4 gtim Payment For Purchase Of Treasury Stock
PaymentForPurchaseOfTreasuryStock
873000 usd
CY2022Q4 gtim Restricted Stock Vesting Settled In Cash
RestrictedStockVestingSettledInCash
92000 usd
CY2022Q4 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5000 usd
CY2021Q4 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
6000 usd
CY2022Q4 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
172000 usd
CY2021Q4 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
766000 usd
CY2022Q4 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
13000 usd
CY2022Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1119000 usd
CY2021Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-760000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1992000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1216000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8906000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8856000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6914000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7640000 usd
CY2022Q4 us-gaap Interest Paid Net
InterestPaidNet
5000 usd
CY2022Q4 gtim Capital Expenditures Incurred But Not Paid
CapitalExpendituresIncurredButNotPaid
-161000 usd
CY2021Q4 gtim Capital Expenditures Incurred But Not Paid
CapitalExpendituresIncurredButNotPaid
-12000 usd
CY2022Q4 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
66000000 usd
CY2021 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
67000000 usd
CY2022Q4 us-gaap Business Combination Acquired Receivables Description
BusinessCombinationAcquiredReceivablesDescription
For the quarter ended December 27, 2022, total receivables were $1,119,000, which consists of $208,000 in receivables from large box retail partners, retailed receivables, $288,000 in rebate receivables, $319,000 in third party delivery receivables, and $304,000 of franchise and other receivables, compared to $2,350,000 for the quarter ended December 28, 2021, consisting primarily of $619,000 in receivables from large box retailers, $249,000 in rebate receivables, $243,000 in third party delivery receivables, $745,000 for a lease termination agreement entered in the quarter for one of our Good Times locations, - and $494,000 of franchise and other receivables.
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3925000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-7000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3918000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3925000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-5000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3920000 usd
CY2023Q4 us-gaap Goodwill Gross
GoodwillGross
5700000 usd
CY2023Q4 us-gaap Goodwill Fair Value Disclosure
GoodwillFairValueDisclosure
5700000 usd
CY2022Q3 us-gaap Goodwill Gross
GoodwillGross
5700000 usd
CY2022Q3 us-gaap Goodwill Fair Value Disclosure
GoodwillFairValueDisclosure
5700000 usd
CY2022Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2000000 usd
CY2021Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4000000 usd
CY2022Q4 gtim Share Based Payment Arrangements Noncash Expense
ShareBasedPaymentArrangementsNoncashExpense
46000 usd
CY2021Q4 gtim Share Based Payment Arrangements Noncash Expense
ShareBasedPaymentArrangementsNoncashExpense
95000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Period Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecrease
20000 shares
CY2022Q4 gtim Stock Options Incentive Granted
StockOptionsIncentiveGranted
90000 shares
CY2022Q4 us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
2.33
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
1.24
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.29
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
46336 shares
CY2022Q4 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
470161 shares
CY2022Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
3.97
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
20000 shares
CY2022Q4 gtim Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Grant Options Weighted Average Exercise Price
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeGrantOptionsWeightedAverageExercisePrice
3
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
2000 shares
CY2022Q4 gtim Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercised Options Weighted Average Exercise Price
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisedOptionsWeightedAverageExercisePrice
2.31
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures
12253 shares
CY2022Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.95
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
475908 shares
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
3.94
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y6M
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
326631 shares
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
3.66
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P4Y9M18D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
199000 usd
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
369000 usd
CY2022Q4 gtim Stock Issued During Period Share Stock Options Exercised
StockIssuedDuringPeriodShareStockOptionsExercised
2000 shares
CY2022Q4 us-gaap Shares Issued
SharesIssued
2000 shares
CY2022Q4 gtim Proceeds From Stock Option Exercised
ProceedsFromStockOptionExercised
5000 usd
CY2021Q4 gtim Stock Issued During Period Share Stock Options Exercised
StockIssuedDuringPeriodShareStockOptionsExercised
7984 shares
CY2021Q4 us-gaap Shares Issued
SharesIssued
7984 shares
CY2021Q4 gtim Proceeds From Stock Option Exercised
ProceedsFromStockOptionExercised
13000 usd
CY2022Q4 gtim Share Based Compensation Restricted Stock Units Granted
ShareBasedCompensationRestrictedStockUnitsGranted
25750 shares
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
73336 shares
CY2022Q4 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
25750 shares
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
1.54
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
1000 shares
CY2022Q4 gtim Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Option Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionForfeitedWeightedAverageGrantDateFairValue
4.5
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
51750 shares
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.54
CY2022Q4 gtim Sale Leaseback Transactions Deferred Gain Net
SaleLeasebackTransactionsDeferredGainNet
8000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
8000 usd
CY2021Q4 us-gaap Gain Loss On Contract Termination
GainLossOnContractTermination
607000 usd
CY2021Q4 gtim Sale Leaseback Transactions Deferred Gain Net
SaleLeasebackTransactionsDeferredGainNet
7000 usd
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
785000 usd
CY2022Q3 us-gaap Prepaid Rent
PrepaidRent
765000 usd
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1027000 usd
CY2022Q3 us-gaap Prepaid Insurance
PrepaidInsurance
3000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
150000 usd
CY2022Q3 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
120000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1962000 usd
CY2022Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
888000 usd
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
2561000 usd
CY2022Q3 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
2773000 usd
CY2022Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
1441000 usd
CY2022Q3 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
1166000 usd
CY2022Q4 us-gaap Accrued Liabilities For Unredeeemed Gift Cards
AccruedLiabilitiesForUnredeeemedGiftCards
1537000 usd
CY2022Q4 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
usd
CY2022Q4 us-gaap Increase Decrease In Leasing Receivables
IncreaseDecreaseInLeasingReceivables
usd
CY2021Q4 us-gaap Increase Decrease In Leasing Receivables
IncreaseDecreaseInLeasingReceivables
usd
CY2021Q4 us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
usd
CY2022Q3 us-gaap Accrued Liabilities For Unredeeemed Gift Cards
AccruedLiabilitiesForUnredeeemedGiftCards
985000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1499000 usd
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1867000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7038000 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6791000 usd
CY2022Q4 us-gaap Line Of Credit Facility Commitment Fee Percentage
LineOfCreditFacilityCommitmentFeePercentage
0.0025 pure
CY2022Q4 gtim Description Of Interest At A Variable Rate
DescriptionOfInterestAtAVariableRate
As of December 27, 2022, any borrowings under the Cadence Credit Facility, as amended, bear interest at a variable rate based upon the Company’s election of (i) 2.5% plus the base rate, which is the highest of the (a) Federal Funds Rate plus 0.5%, (b) the Cadence bank publicly announced prime rate, and (c) LIBOR plus 1.0%, or (ii) LIBOR, with a 0.250% floor, plus 3.5%.
CY2022Q4 us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.078 pure
CY2022Q4 gtim Description Of Cadence Credit Facility
DescriptionOfCadenceCreditFacility
The Cadence Credit Facility contains certain affirmative and negative covenants and events of default that the Company considers customary for an agreement of this type, including covenants setting a maximum leverage ratio of 5.15:1, a minimum pre-distribution fixed charge coverage ratio of 1.25:1, a minimum post-distribution fixed charge coverage ratio of 1.10:1 and minimum liquidity of $2.0 million. As of December 27, 2022, the Company was in compliance with all financial covenants under the Cadence Credit Facility. 
CY2022Q4 us-gaap Adjustment For Amortization
AdjustmentForAmortization
13000 usd
CY2022Q4 gtim Weighted Average Number Of Share Outstanding Basic
WeightedAverageNumberOfShareOutstandingBasic
12041628 shares
CY2021Q4 gtim Weighted Average Number Of Share Outstanding Basic
WeightedAverageNumberOfShareOutstandingBasic
12522471 shares
CY2021Q4 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
116172 shares
CY2021Q4 gtim Incremental Common Shares Attributable To Restricted Stock Units
IncrementalCommonSharesAttributableToRestrictedStockUnits
46336 shares
CY2022Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
12041628 shares
CY2021Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
12684979 shares
CY2022Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
527658 shares
CY2021Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
153118 shares
CY2021Q3 us-gaap Other Commitments Future Minimum Payments Remainder Of Fiscal Year
OtherCommitmentsFutureMinimumPaymentsRemainderOfFiscalYear
18000000 usd
CY2022Q1 us-gaap Product Liability Contingency Loss Exposure In Excess Of Accrual Best Estimate
ProductLiabilityContingencyLossExposureInExcessOfAccrualBestEstimate
332000 usd
CY2022Q4 gtim Lessee Lease Remaining Term
LesseeLeaseRemainingTerm
P20Y
CY2022Q4 us-gaap Proceeds From Collection Of Advance To Affiliate
ProceedsFromCollectionOfAdvanceToAffiliate
usd
CY2022Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
1825000 usd
CY2021Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
1795000 usd
CY2022Q4 us-gaap Variable Lease Cost
VariableLeaseCost
37000 usd
CY2021Q4 us-gaap Variable Lease Cost
VariableLeaseCost
20000 usd
CY2022Q4 us-gaap Sublease Income
SubleaseIncome
129000 usd
CY2021Q4 us-gaap Sublease Income
SubleaseIncome
136000 usd
CY2022Q4 us-gaap Lease Cost
LeaseCost
1733000 usd
CY2021Q4 us-gaap Lease Cost
LeaseCost
1679000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y5M26D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y3M18D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2022Q4 gtim Operating Lease Liabilities Payments
OperatingLeaseLiabilitiesPayments
1853000 usd
CY2021Q4 gtim Operating Lease Liabilities Payments
OperatingLeaseLiabilitiesPayments
1718000 usd
CY2022Q4 gtim Right Of Use Asset Obtained In Exchange For Operating Leases Liability
RightOfUseAssetObtainedInExchangeForOperatingLeasesLiability
-73000 usd
CY2021Q4 gtim Right Of Use Asset Obtained In Exchange For Operating Leases Liability
RightOfUseAssetObtainedInExchangeForOperatingLeasesLiability
60000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
40867000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
44972000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5394000 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5051000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
43846000 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
48784000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
49240000 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
53835000 usd
CY2021Q4 us-gaap Proceeds From Collection Of Advance To Affiliate
ProceedsFromCollectionOfAdvanceToAffiliate
usd
CY2022Q4 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5818000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
7589000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
7669000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7217000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
6917000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
25644000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
60854000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
11614000 usd
CY2022Q4 us-gaap Short Term Lease Commitment Amount
ShortTermLeaseCommitmentAmount
49240000 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2022Q4 gtim Income Tax Expense
IncomeTaxExpense
0 usd
CY2021Q4 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
8000 usd
CY2021Q4 us-gaap Effective Income Tax Rate Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
EffectiveIncomeTaxRateReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
0.02 pure
CY2021Q4 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
usd
CY2021Q4 gtim Payment For Purchase Of Treasury Stock
PaymentForPurchaseOfTreasuryStock
usd
CY2022Q4 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-26
CY2022Q4 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2022Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2021Q4 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
usd
CY2022Q3 us-gaap Minority Interest
MinorityInterest
1303000 usd
CY2022Q4 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
222000 usd
CY2022Q4 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
172000 usd
CY2022Q4 gtim Contribution To Non Controlling Interests
ContributionToNonControllingInterests
13000 usd
CY2022Q4 us-gaap Minority Interest
MinorityInterest
1366000 usd
CY2022Q4 us-gaap Revenues
Revenues
33394000 usd
CY2021Q4 us-gaap Revenues
Revenues
32916000 usd
CY2022Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
107000 usd
CY2021Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
1276000 usd
CY2022Q4 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
884000 usd
CY2021Q4 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
237000 usd
CY2022Q4 gtim Property And Equipment Nets
PropertyAndEquipmentNets
22192000 usd
CY2022Q3 gtim Property And Equipment Nets
PropertyAndEquipmentNets
22251000 usd
CY2022Q4 us-gaap Pre Opening Costs
PreOpeningCosts
usd
CY2022Q4 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
usd
CY2021Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
usd
CY2021Q4 gtim Restricted Stock Vesting Settled In Cash
RestrictedStockVestingSettledInCash
usd
CY2021Q4 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
usd
CY2021Q4 us-gaap Interest Paid Net
InterestPaidNet
usd
CY2023Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
usd
CY2022Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
usd
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
CY2022Q4 gtim Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Forfeited To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndForfeitedToVestOutstandingWeightedAverageRemainingContractualTerm1
CY2022Q4 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
shares
CY2022Q4 gtim Incremental Common Shares Attributable To Restricted Stock Units
IncrementalCommonSharesAttributableToRestrictedStockUnits
shares
CY2022Q4 dei Amendment Flag
AmendmentFlag
false
CY2022Q4 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2022Q4 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2022Q4 dei Entity Central Index Key
EntityCentralIndexKey
0000825324
CY2022Q4 dei Entity Registrant Name
EntityRegistrantName
Good Times Restaurants Inc.

Files In Submission

Name View Source Status
gtim-20221227_lab.xml Edgar Link unprocessable
gtim-20221227_htm.xml Edgar Link completed
0001214659-23-001500-index-headers.html Edgar Link pending
0001214659-23-001500-index.html Edgar Link pending
0001214659-23-001500.txt Edgar Link pending
0001214659-23-001500-xbrl.zip Edgar Link pending
ex31_1.htm Edgar Link pending
ex31_2.htm Edgar Link pending
ex32_1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
gtim-20221227.htm Edgar Link pending
gtim-20221227.xsd Edgar Link pending
gtim_thinlogo.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
mkarnes_sig.jpg Edgar Link pending
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gtim-20221227_cal.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
gtim-20221227_def.xml Edgar Link unprocessable
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report.css Edgar Link pending
rzink_sig.jpg Edgar Link pending
Show.js Edgar Link pending
gtim-20221227_pre.xml Edgar Link unprocessable