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Segment Information
9 Months Ended
Sep. 28, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
Management determined the Company’s single operating segment on the basis that the Company’s Chief Operating Decision Maker (the “CODM”), the Chief Executive Officer, assesses performance and allocates resources at the Company’s consolidated level. The Company’s CODM uses consolidated net income to evaluate performance and make key operating decisions, such as investments in our long-term growth strategy. This measure is also used to monitor budget against actual results.
Revenue is derived from sales of food and beverage, net of discounts, by Company-owned restaurants as well as franchise royalty, system fund and initial franchise fees. The measure of total assets for the reporting segment is reported on the consolidated balance sheets. The measure of capital expenditures for the reporting segment is reported on the consolidated statements of cash flows.
The following table details consolidated net income for the segment for the periods indicated:
THIRTEEN WEEKS ENDEDTHIRTY-NINE WEEKS ENDED
(in thousands)SEPTEMBER 28, 2025SEPTEMBER 29, 2024SEPTEMBER 28, 2025SEPTEMBER 29, 2024
Total revenues$316,022 $251,609 $906,149 $752,619 
Less:
Food and beverage costs69,730 55,865 208,355 163,852 
Labor and other related expenses102,387 83,756 300,451 247,332 
Other restaurant operating expenses50,140 38,891 141,002 113,232 
Occupancy expenses25,891 21,075 73,849 60,733 
Pre-opening expenses3,813 2,387 9,980 5,782 
Stock-based compensation, net of amounts capitalized 2,877 2,076 7,926 6,394 
General and administrative expenses (1)
30,869 25,604 89,224 76,133 
Depreciation and amortization19,662 15,153 54,355 41,960 
Other segment items (2)
603 489 2,531 2,155 
Interest expense4,567 3,441 11,904 9,421 
Other income, net(191)(624)(1,141)(1,663)
Income tax expense2,683 1,384 3,445 9,062 
Net income$2,991 $2,112 $4,268 $18,226 
(1) General and administrative expenses excludes stock-based compensation, net of amounts capitalized presented separately.
(2) Other segment items included in segment net income are primarily transaction expenses, and impairments and loss on disposal of assets.