XML 16 R7.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 27, 2022
Mar. 28, 2021
Cash flows from operating activities:    
Net loss $ (49,200) $ (30,045)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 10,677 7,847
Amortization of lease acquisition 129 87
Amortization of loan origination fees 67 23
Loss on fixed asset disposal 8 51
Stock-based compensation 22,165 1,224
Deferred income tax expense 20 0
Change in fair value of contingent consideration liability (234) 0
Changes in operating assets and liabilities:    
Accounts receivable (1,187) (767)
Tenant improvement receivables (1,208) (2,330)
Inventory (53) 23
Prepaid expenses and other current assets 974 (147)
Accounts payable 2,239 954
Accrued payroll and benefits (2,778) 2,267
Accrued expenses (1,154) 1,251
Gift card and loyalty liability (217) (605)
Deferred rent liability 2,999 3,703
Net cash used in operating activities (16,753) (16,464)
Cash flows from investing activities:    
Purchase of property and equipment (18,059) (16,581)
Purchase of intangible assets (1,187) (948)
Security and landlord deposits 181 77
Lease acquisition costs (540) (401)
Net cash used in investing activities (19,605) (17,853)
Cash flows from financing activities:    
Proceeds from preferred stock issuance, net of issuance costs 0 113,811
Proceeds from stock option exercise 849 2,521
Deferred offering costs paid 0 (61)
Net cash provided by financing activities 849 116,271
Net (decrease) increase in cash and cash equivalents and restricted cash (35,509) 81,954
Cash and cash equivalents and restricted cash—beginning of year 472,299 102,765
Cash and cash equivalents and restricted cash—end of period 436,790 184,719
Supplemental disclosure of cash flow information    
Cash paid for interest 0 20
Purchase of property and equipment accrued in accounts payable and accrued expenses 2,776 1,800
Non-cash investing and financing activities    
Initial liability associated with Series J warrants $ 0 $ 4,953