$PBPB
POTBELLY CORP

2020 Q1 Form 10-Q Financial Statement

#000156459020026026 Filed on May 18, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $87.59M $98.09M
YoY Change -10.7%
Cost Of Revenue $24.20M $26.00M
YoY Change -6.92%
Gross Profit $63.40M $72.10M
YoY Change -12.07%
Gross Profit Margin 72.38% 73.51%
Selling, General & Admin $56.20M $59.10M
YoY Change -4.91%
% of Gross Profit 88.64% 81.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.456M $5.536M
YoY Change -1.45%
% of Gross Profit 8.61% 7.68%
Operating Expenses $74.40M $102.8M
YoY Change -27.63%
Operating Profit -$16.99M -$4.723M
YoY Change 259.62%
Interest Expense -$100.0K $32.00K
YoY Change -412.5%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$17.10M -$4.755M
YoY Change 259.62%
Income Tax -$3.700M $13.60M
% Of Pretax Income
Net Earnings -$13.34M -$18.44M
YoY Change -27.68%
Net Earnings / Revenue -15.23% -18.8%
Basic Earnings Per Share -$0.56 -$0.76
Diluted Earnings Per Share -$0.56 -$0.76
COMMON SHARES
Basic Shares Outstanding 23.65K 24.13M
Diluted Shares Outstanding 23.65K 24.13K

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.80M $13.80M
YoY Change 231.88%
Cash & Equivalents $45.82M $13.83M
Short-Term Investments
Other Short-Term Assets $8.500M $9.900M
YoY Change -14.14%
Inventory $3.200M $3.300M
Prepaid Expenses
Receivables $2.651M $5.500M
Other Receivables $0.00 $0.00
Total Short-Term Assets $60.17M $32.60M
YoY Change 84.56%
LONG-TERM ASSETS
Property, Plant & Equipment $73.01M $306.3M
YoY Change -76.17%
Goodwill $2.222M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.000M $7.000M
YoY Change -42.86%
Total Long-Term Assets $290.9M $318.9M
YoY Change -8.78%
TOTAL ASSETS
Total Short-Term Assets $60.17M $32.60M
Total Long-Term Assets $290.9M $318.9M
Total Assets $351.1M $351.5M
YoY Change -0.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.375M $3.200M
YoY Change 5.47%
Accrued Expenses $15.66M $48.80M
YoY Change -67.92%
Deferred Revenue $1.264M $1.495M
YoY Change -15.45%
Short-Term Debt $39.80M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $88.69M $52.20M
YoY Change 69.9%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.274M $223.2M
YoY Change -98.53%
Total Long-Term Liabilities $3.274M $223.2M
YoY Change -98.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $88.69M $52.20M
Total Long-Term Liabilities $3.274M $223.2M
Total Liabilities $294.9M $275.9M
YoY Change 6.87%
SHAREHOLDERS EQUITY
Retained Earnings -$267.4M
YoY Change
Common Stock $436.1M $330.0K
YoY Change 132051.21%
Preferred Stock
YoY Change
Treasury Stock (at cost) $112.8M
YoY Change
Treasury Stock Shares $9.488M
Shareholders Equity $55.93M $75.70M
YoY Change
Total Liabilities & Shareholders Equity $351.1M $351.5M
YoY Change -0.12%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$13.34M -$18.44M
YoY Change -27.68%
Depreciation, Depletion And Amortization $5.456M $5.536M
YoY Change -1.45%
Cash From Operating Activities -$7.816M -$2.373M
YoY Change 229.37%
INVESTING ACTIVITIES
Capital Expenditures $4.860M $2.572M
YoY Change 88.96%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$4.860M -$2.572M
YoY Change 88.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.144M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 39.69M -999.0K
YoY Change -4072.57%
NET CHANGE
Cash From Operating Activities -7.816M -2.373M
Cash From Investing Activities -4.860M -2.572M
Cash From Financing Activities 39.69M -999.0K
Net Change In Cash 27.01M -5.944M
YoY Change -554.41%
FREE CASH FLOW
Cash From Operating Activities -$7.816M -$2.373M
Capital Expenditures $4.860M $2.572M
Free Cash Flow -$12.68M -$4.945M
YoY Change 156.34%

Facts In Submission

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<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Fiscal Year</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company uses 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 2020 and 2019 both consist of 52 weeks. The fiscal quarters ended March 29, 2020 and March 31, 2019 each consisted of 13 weeks.</p>
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CY2020Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2020Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2020Q1 pbpb Revenue From Contract With Customer Excluding Assessed Tax Related To Prior Periods
RevenueFromContractWithCustomerExcludingAssessedTaxRelatedToPriorPeriods
0
CY2019Q1 pbpb Revenue From Contract With Customer Excluding Assessed Tax Related To Prior Periods
RevenueFromContractWithCustomerExcludingAssessedTaxRelatedToPriorPeriods
0
CY2020Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
5900000
CY2019Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2020Q1 pbpb Tax Refund From Net Operating Loss Carry Back
TaxRefundFromNetOperatingLossCarryBack
3700000
CY2020Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
13600000
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y3M29D
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y10M24D
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0790
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0801
CY2020Q1 us-gaap Lease Cost
LeaseCost
15092000
CY2019Q1 us-gaap Lease Cost
LeaseCost
14499000
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
11979000
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
11938000
CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5534000
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
922000
CY2020Q1 pbpb Reduction In Operating Right Of Use Assets Due To Lease Terminations
ReductionInOperatingRightOfUseAssetsDueToLeaseTerminations
-1439000
CY2020Q1 pbpb Lessee Operating Lease Lease Not Yet Commenced Amount
LesseeOperatingLeaseLeaseNotYetCommencedAmount
0
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
34954000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
44610000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
39071000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
34321000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
31180000
CY2020Q1 pbpb Lessee Operating Lease Liability Payments Due Year Six
LesseeOperatingLeaseLiabilityPaymentsDueYearSix
28836000
CY2020Q1 pbpb Lessee Operating Lease Liability Payments Due After Year Six
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearSix
112902000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
325874000
CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
93271000
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
232603000
CY2018Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
65000000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1741000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1563000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.34
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
10.51
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.35
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
11.12
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y3M29D
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y3D
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y7M6D
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
463000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
158000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
68000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
553000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
7.59
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.88
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
3.18
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
6.38
CY2017Q4 us-gaap Loss Contingency Lawsuit Filing Date
LossContingencyLawsuitFilingDate
October 2017
CY2020Q1 us-gaap Loss Contingency Settlement Agreement Date
LossContingencySettlementAgreementDate
February 4, 2020

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