2024 Q3 Form 10-Q Financial Statement

#000119573424000148 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $115.1M $119.7M
YoY Change -4.68% -5.47%
Cost Of Revenue $29.47M $31.31M
YoY Change -10.43% -10.31%
Gross Profit $85.65M $88.39M
YoY Change -2.56% -3.63%
Gross Profit Margin 74.4% 73.85%
Selling, General & Admin $57.52M $59.82M
YoY Change -4.6% -6.37%
% of Gross Profit 67.16% 67.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.236M $3.016M
YoY Change 6.31% 4.47%
% of Gross Profit 3.78% 3.41%
Operating Expenses $110.9M $115.6M
YoY Change -6.15% -6.25%
Operating Profit $4.252M $4.119M
YoY Change 61.61% 23.18%
Interest Expense $162.0K $181.0K
YoY Change -81.01% -82.1%
% of Operating Profit 3.81% 4.39%
Other Income/Expense, Net
YoY Change
Pretax Income $4.090M $3.938M
YoY Change 130.03% 68.8%
Income Tax $11.00K -$30.98M
% Of Pretax Income 0.27% -786.74%
Net Earnings $3.735M $34.71M
YoY Change 149.83% 1466.43%
Net Earnings / Revenue 3.24% 29.0%
Basic Earnings Per Share $0.12 $1.16
Diluted Earnings Per Share $0.12 $1.13
COMMON SHARES
Basic Shares Outstanding 29.95M shares 29.84M shares
Diluted Shares Outstanding 30.38M shares 30.71M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.20M $8.322M
YoY Change -63.75% -75.71%
Cash & Equivalents $11.20M $8.322M
Short-Term Investments
Other Short-Term Assets $7.081M $7.445M
YoY Change 26.45% 17.3%
Inventory $3.511M $3.353M
Prepaid Expenses
Receivables $10.05M $8.973M
Other Receivables $0.00 $0.00
Total Short-Term Assets $31.84M $28.09M
YoY Change -33.75% -46.4%
LONG-TERM ASSETS
Property, Plant & Equipment $48.49M $46.73M
YoY Change 7.4% 7.46%
Goodwill $2.053M $2.053M
YoY Change -3.25% -3.25%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $37.86M $37.13M
YoY Change 801.38% 801.89%
Total Long-Term Assets $226.8M $226.5M
YoY Change 11.61% 10.79%
TOTAL ASSETS
Total Short-Term Assets $31.84M $28.09M
Total Long-Term Assets $226.8M $226.5M
Total Assets $258.6M $254.6M
YoY Change 2.93% -0.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.255M $9.216M
YoY Change -7.82% -5.52%
Accrued Expenses $33.66M $30.15M
YoY Change 4.83% -15.4%
Deferred Revenue $8.800M $8.229M
YoY Change 40.15% 24.19%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $65.41M $62.90M
YoY Change -6.36% -15.2%
LONG-TERM LIABILITIES
Long-Term Debt $3.000M $4.000M
YoY Change -85.66% -81.05%
Other Long-Term Liabilities $7.269M $6.782M
YoY Change 63.86% 60.6%
Total Long-Term Liabilities $10.27M $10.78M
YoY Change -59.5% -57.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $65.41M $62.90M
Total Long-Term Liabilities $10.27M $10.78M
Total Liabilities $206.1M $206.9M
YoY Change -14.69% -17.13%
SHAREHOLDERS EQUITY
Retained Earnings -$298.1M -$301.9M
YoY Change -11.41% -10.7%
Common Stock $469.1M $467.9M
YoY Change 1.77% 1.79%
Preferred Stock
YoY Change
Treasury Stock (at cost) $119.8M $119.5M
YoY Change 2.74% 2.61%
Treasury Stock Shares
Shareholders Equity $52.87M $48.30M
YoY Change
Total Liabilities & Shareholders Equity $258.6M $254.6M
YoY Change 2.93% -0.88%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $3.735M $34.71M
YoY Change 149.83% 1466.43%
Depreciation, Depletion And Amortization $3.236M $3.016M
YoY Change 6.31% 4.47%
Cash From Operating Activities $9.210M $3.157M
YoY Change 271.37% -75.1%
INVESTING ACTIVITIES
Capital Expenditures $4.330M $4.724M
YoY Change -12.88% 19.02%
Acquisitions
YoY Change
Other Investing Activities -$210.0K $0.00
YoY Change -100.0%
Cash From Investing Activities -$4.540M -$4.724M
YoY Change -8.65% 74.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.792M -2.834M
YoY Change 115.9% 116.17%
NET CHANGE
Cash From Operating Activities 9.210M 3.157M
Cash From Investing Activities -4.540M -4.724M
Cash From Financing Activities -1.792M -2.834M
Net Change In Cash 2.878M -4.401M
YoY Change -186.69% -150.79%
FREE CASH FLOW
Cash From Operating Activities $9.210M $3.157M
Capital Expenditures $4.330M $4.724M
Free Cash Flow $4.880M -$1.567M
YoY Change -295.98% -117.99%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2024Q1 us-gaap Profit Loss
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CY2024Q1 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2024Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Depreciation
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us-gaap Depreciation
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pbpb Noncash Lease Income Expense
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pbpb Noncash Lease Income Expense
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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pbpb Asset Impairment Store Closure And Disposal Of Property And Equipment
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pbpb Asset Impairment Store Closure And Disposal Of Property And Equipment
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pbpb Gain Loss On Franchise Growth Acceleration Initiative Activities
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pbpb Gain Loss On Franchise Growth Acceleration Initiative Activities
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pbpb Loss On Extinguishment Of Debt
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pbpb Loss On Extinguishment Of Debt
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us-gaap Other Operating Activities Cash Flow Statement
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us-gaap Other Operating Activities Cash Flow Statement
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us-gaap Increase Decrease In Receivables
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Prepaid Expenses Other
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us-gaap Increase Decrease In Prepaid Expenses Other
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us-gaap Increase Decrease In Accounts Payable
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pbpb Increase Decrease In Operating Lease Liabilities
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pbpb Increase Decrease In Operating Lease Liabilities
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
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us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Proceeds From Warrant Exercises
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments To Minority Shareholders
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us-gaap Payments To Minority Shareholders
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pbpb Repayments Of Long Term Lines Of Credit Principal Payments
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Income Taxes Paid
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us-gaap Income Taxes Paid
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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pbpb Unpaid Liability For Employee Taxes On Certain Stock Based Payment Arrangements
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pbpb Unpaid Liability For Employee Taxes On Certain Stock Based Payment Arrangements
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CY2024Q2 pbpb Number Of Shops Owns Or Operates By Entity
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CY2024Q2 pbpb Number Of Shops Operate By Franchisees
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pbpb Number Of Wholly Owned Subsidiaries
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CY2024Q2 pbpb Number Of Joint Ventures
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us-gaap Fiscal Period
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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Fiscal Year</span></div>We use a 52/53-week fiscal year that ends on the last Sunday of the calendar period. Approximately every five or six years a 53rd week is added. Fiscal year 2024 consists of 52 weeks and fiscal year 2023 consisted of 53 weeks. The year to date periods ended June 30, 2024 and June 25, 2023 each consisted of 26 weeks.
us-gaap Use Of Estimates
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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Significant estimates include amounts for long-lived assets and income taxes. Actual results could differ from those estimates.</span></div>
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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pbpb Revenue Recognition Gift Card Breakage
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CY2023 pbpb Customer Loyalty Program Points Earned Per Dollar Spent
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CY2023 pbpb Customer Loyalty Program Points Required For Loyalty Award
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CY2023 pbpb Customer Loyalty Program Expiration Period For Loyalty Reward
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CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q2 us-gaap Earnings Per Share Basic
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1.16
CY2023Q2 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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1.07
us-gaap Earnings Per Share Basic
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0.03
CY2024Q2 us-gaap Earnings Per Share Diluted
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CY2023Q2 us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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pbpb Right Of Use Assets Derecognized Upon Lease Termination
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CY2024Q2 us-gaap Operating Lease Liability
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CY2024Q2 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
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CY2024Q2 pbpb Lessor Number Of Operating Subleases
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CY2024Q2 pbpb Franchise Lease Expense
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pbpb Franchise Lease Expense
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CY2023Q2 pbpb Franchise Lease Expense
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pbpb Franchise Lease Expense
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CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
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CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
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1703000 usd
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CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received
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CY2024Q2 us-gaap Long Term Debt Current
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1250000 usd
CY2024Q2 us-gaap Long Term Debt
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CY2023Q4 us-gaap Long Term Debt
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us-gaap Gains Losses On Extinguishment Of Debt
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CY2024Q2 us-gaap Significant Changes Franchises Sold
SignificantChangesFranchisesSold
1 store
CY2023Q2 us-gaap Significant Changes Franchises Sold
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0 store
us-gaap Significant Changes Franchises Sold
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1 store
us-gaap Significant Changes Franchises Sold
SignificantChangesFranchisesSold
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CY2024Q2 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
167000 usd
CY2023Q2 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
167000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
100000 usd
CY2024Q2 us-gaap Property Plant And Equipment Disposals
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188000 usd
CY2023Q2 us-gaap Property Plant And Equipment Disposals
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0 usd
us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
188000 usd
us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
512000 usd
CY2024Q2 pbpb Goodwill Written Off Related To Sale Of Shops
GoodwillWrittenOffRelatedToSaleOfShops
3000 usd
CY2023Q2 pbpb Goodwill Written Off Related To Sale Of Shops
GoodwillWrittenOffRelatedToSaleOfShops
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pbpb Goodwill Written Off Related To Sale Of Shops
GoodwillWrittenOffRelatedToSaleOfShops
3000 usd
pbpb Goodwill Written Off Related To Sale Of Shops
GoodwillWrittenOffRelatedToSaleOfShops
21000 usd
CY2024Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-24000 usd
CY2023Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-24000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
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CY2024Q2 us-gaap Increase Decrease In Assets Held For Sale
IncreaseDecreaseInAssetsHeldForSale
0 usd
CY2023Q2 us-gaap Increase Decrease In Assets Held For Sale
IncreaseDecreaseInAssetsHeldForSale
0 usd
us-gaap Increase Decrease In Assets Held For Sale
IncreaseDecreaseInAssetsHeldForSale
-30000 usd
us-gaap Increase Decrease In Assets Held For Sale
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CY2024Q2 us-gaap Franchisor Costs
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4000 usd
CY2023Q2 us-gaap Franchisor Costs
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14000 usd
us-gaap Franchisor Costs
FranchisorCosts
107000 usd
us-gaap Franchisor Costs
FranchisorCosts
27000 usd
CY2024Q2 pbpb Loss On Franchise Growth Acceleration Initiative Activities
LossOnFranchiseGrowthAccelerationInitiativeActivities
28000 usd
CY2023Q2 pbpb Loss On Franchise Growth Acceleration Initiative Activities
LossOnFranchiseGrowthAccelerationInitiativeActivities
14000 usd
pbpb Loss On Franchise Growth Acceleration Initiative Activities
LossOnFranchiseGrowthAccelerationInitiativeActivities
161000 usd
pbpb Loss On Franchise Growth Acceleration Initiative Activities
LossOnFranchiseGrowthAccelerationInitiativeActivities
963000 usd
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
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883402 shares
CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
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1123589 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
122000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
13.71
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y5M8D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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0
us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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14.21
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
13.16
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
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P2Y4M9D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
13.16
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
0 usd
CY2024Q1 us-gaap Gain Loss Related To Litigation Settlement
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1100000 usd
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
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false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
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CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
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false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
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false

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