$SHAK
Shake Shack Inc.

2015 Q3 Form 10-Q Financial Statement

#000162053315000117 Filed on November 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $53.27M $31.83M
YoY Change 67.39% 39.58%
Cost Of Revenue $14.93M $9.340M
YoY Change 59.84% -21.51%
Gross Profit $38.34M $22.49M
YoY Change 70.53% 106.28%
Gross Profit Margin 71.98% 70.65%
Selling, General & Admin $11.20M $9.600M
YoY Change 16.67% 29.73%
% of Gross Profit 29.21% 42.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.636M $1.502M
YoY Change 75.5% 66.89%
% of Gross Profit 6.87% 6.68%
Operating Expenses $45.47M $31.07M
YoY Change 46.36% 201.61%
Operating Profit $7.804M $759.0K
YoY Change 928.19% 26.5%
Interest Expense -$100.0K -$100.0K
YoY Change 0.0%
% of Operating Profit -1.28% -13.18%
Other Income/Expense, Net
YoY Change
Pretax Income $7.721M $631.0K
YoY Change 1123.61% 5.17%
Income Tax $1.528M $127.0K
% Of Pretax Income 19.79% 20.13%
Net Earnings $1.528M $504.0K
YoY Change 203.17% 26.0%
Net Earnings / Revenue 2.87% 1.58%
Basic Earnings Per Share $0.11 $0.02
Diluted Earnings Per Share $0.10 $0.02
COMMON SHARES
Basic Shares Outstanding 13.76M shares 29.98M shares
Diluted Shares Outstanding 14.79M shares 30.10M shares

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $64.90M $6.100M
YoY Change 963.93%
Cash & Equivalents $65.86M $6.107M
Short-Term Investments
Other Short-Term Assets $2.200M $300.0K
YoY Change 633.33%
Inventory $607.0K $400.0K
Prepaid Expenses
Receivables $3.135M $2.300M
Other Receivables $0.00 $0.00
Total Short-Term Assets $75.83M $9.100M
YoY Change 733.25%
LONG-TERM ASSETS
Property, Plant & Equipment $87.98M $53.00M
YoY Change 65.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.000M
YoY Change
Other Assets $3.414M $2.400M
YoY Change 42.25%
Total Long-Term Assets $199.0M $56.40M
YoY Change 252.76%
TOTAL ASSETS
Total Short-Term Assets $75.83M $9.100M
Total Long-Term Assets $199.0M $56.40M
Total Assets $274.8M $65.50M
YoY Change 319.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.336M $3.500M
YoY Change 52.46%
Accrued Expenses $6.471M $5.900M
YoY Change 9.68%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $5.000M
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.96M $15.30M
YoY Change 30.46%
LONG-TERM LIABILITIES
Long-Term Debt $300.0K $300.0K
YoY Change 0.0%
Other Long-Term Liabilities $3.754M $14.10M
YoY Change -73.38%
Total Long-Term Liabilities $3.754M $14.40M
YoY Change -73.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.96M $15.30M
Total Long-Term Liabilities $3.754M $14.40M
Total Liabilities $136.7M $29.70M
YoY Change 360.12%
SHAREHOLDERS EQUITY
Retained Earnings $1.749M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $131.4M $35.80M
YoY Change
Total Liabilities & Shareholders Equity $274.8M $65.50M
YoY Change 319.51%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $1.528M $504.0K
YoY Change 203.17% 26.0%
Depreciation, Depletion And Amortization $2.636M $1.502M
YoY Change 75.5% 66.89%
Cash From Operating Activities $12.45M $3.200M
YoY Change 289.06% -14.21%
INVESTING ACTIVITIES
Capital Expenditures -$8.370M -$6.540M
YoY Change 27.98% 15.34%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$8.370M -$6.540M
YoY Change 27.98% 15.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 3.600M
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities 12.45M 3.200M
Cash From Investing Activities -8.370M -6.540M
Cash From Financing Activities 0.000 3.600M
Net Change In Cash 4.080M 260.0K
YoY Change 1469.23% -113.4%
FREE CASH FLOW
Cash From Operating Activities $12.45M $3.200M
Capital Expenditures -$8.370M -$6.540M
Free Cash Flow $20.82M $9.740M
YoY Change 113.76% 3.62%

Facts In Submission

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us-gaap Net Income Loss
NetIncomeLoss
-10022000 USD
CY2014Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
CY2015Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
4665000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
10100000 USD
CY2015Q1 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
2 business
CY2015Q3 us-gaap Number Of Restaurants
NumberOfRestaurants
75 Restaurant
CY2014Q3 us-gaap Occupancy Net
OccupancyNet
2675000 USD
us-gaap Occupancy Net
OccupancyNet
6794000 USD
CY2015Q3 us-gaap Occupancy Net
OccupancyNet
4206000 USD
us-gaap Occupancy Net
OccupancyNet
11248000 USD
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
31066000 USD
us-gaap Operating Expenses
OperatingExpenses
79628000 USD
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
45469000 USD
us-gaap Operating Expenses
OperatingExpenses
136432000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
759000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
4130000 USD
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
7804000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
3099000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
4752000 USD
CY2015Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3414000 USD
CY2014Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
2905000 USD
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
7866000 USD
CY2015Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
4376000 USD
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
11579000 USD
CY2014Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1749000 USD
us-gaap Pre Opening Costs
PreOpeningCosts
3828000 USD
CY2015Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3401000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
4019000 USD
CY2015Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
3754000 USD
CY2014Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
388000 USD
CY2015Q3 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
580000 USD
CY2015Q1 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
11125000 USD
CY2015Q1 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
11125000 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
5219000 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
11125000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
298000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
103000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4636000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17885000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
25327000 USD
CY2014Q3 us-gaap Pre Opening Costs
PreOpeningCosts
1766000 USD
CY2015Q3 us-gaap Pre Opening Costs
PreOpeningCosts
1401000 USD
us-gaap Pre Opening Costs
PreOpeningCosts
4054000 USD
CY2015Q3 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1441000 USD
CY2015Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2243000 USD
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
109362000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
30000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
5000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
4000000 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
-13049000 USD
us-gaap Profit Loss
ProfitLoss
13127000 USD
CY2014Q3 us-gaap Profit Loss
ProfitLoss
504000 USD
us-gaap Profit Loss
ProfitLoss
3545000 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
6193000 USD
us-gaap Profit Loss
ProfitLoss
78000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
83467000 USD
CY2015Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
108548000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
70124000 USD
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
87977000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
36000000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1749000 USD
CY2014Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
736000 USD
CY2015Q3 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
1117000 USD
CY2014Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
30165000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
78988000 USD
CY2015Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
51275000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
133905000 USD
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
31825000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
83758000 USD
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
53273000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
139531000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
124000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
15509000 USD
CY2014Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
32000000 USD
CY2015Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
109362000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
12600000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
131369000 USD
us-gaap Stockholders Equity Change In Reporting Entity
StockholdersEquityChangeInReportingEntity
30000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12600000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
138127000 USD
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30104000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30119000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14785000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12590000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29978000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29968000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13757000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12590000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:Arial Narrow;font-size:10pt;">The preparation of these condensed consolidated financial statements in conformity with GAAP requires us 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 financial statements, and the reported amounts of sales and expenses during the reporting period. Actual results could differ from those estimates.</font></div></div>
us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:Arial Narrow;font-size:10pt;">We operate on a 52/53 week fiscal year ending on the last Wednesday in December. Fiscal </font><font style="font-family:Arial Narrow;font-size:10pt;">2015</font><font style="font-family:Arial Narrow;font-size:10pt;"> contains </font><font style="font-family:Arial Narrow;font-size:10pt;">52</font><font style="font-family:Arial Narrow;font-size:10pt;"> weeks and ends on </font><font style="font-family:Arial Narrow;font-size:10pt;">December&#160;30, 2015</font><font style="font-family:Arial Narrow;font-size:10pt;">. Fiscal </font><font style="font-family:Arial Narrow;font-size:10pt;">2014</font><font style="font-family:Arial Narrow;font-size:10pt;"> contained </font><font style="font-family:Arial Narrow;font-size:10pt;">53</font><font style="font-family:Arial Narrow;font-size:10pt;"> weeks and ended on </font><font style="font-family:Arial Narrow;font-size:10pt;">December&#160;31, 2014</font><font style="font-family:Arial Narrow;font-size:10pt;">. Unless otherwise stated, references to years in this report relate to fiscal years.</font></div></div>

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