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Basis of Presentation and Recent Accounting Pronouncements (Tables) | 6 Months Ended
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Jul. 09, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Revisions to Previously Issued Consolidated Financial Statements | The following tables reflect the effects of the correction on all affected line items of the Company's previously reported Condensed Consolidated Financial Statements presented in this Form 10-Q:
CORRECTED CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)
| December 25, 2022
(in thousands) | As Previously Reported | Adjustment | As Corrected
Unearned revenue | $ | 43,358 |  | $ | 3,586 |  | $ | 46,944 |
Total current liabilities | 216,627 |  | 3,586 |  | 220,213 |
Total liabilities | 826,770 |  | 3,586 |  | 830,356 |
Accumulated deficit | (50,604) |  | (3,586) |  | (54,190) |
Total stockholders' equity | 5,375 |  | (3,586) |  | 1,789 |
CORRECTED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (unaudited)
| Twelve Weeks Ended July 10, 2022 | Twenty-Eight Weeks Ended July 10, 2022
(in thousands, except per share amounts) | As Previously Reported | Adjustment | As Corrected | As Previously Reported | Adjustment | As Corrected
Restaurant revenue | $ | 288,657 |  | $ | (36) |  | $ | 288,621 |  | $ | 669,269 |  | $ | (51) |  | $ | 669,218 |
Franchise and other revenues | 5,433 |  | 2 |  | 5,435 |  | 20,371 |  | (459) |  | 19,912 |
Total revenues | 294,090 |  | (34) |  | 294,056 |  | 689,640 |  | (510) |  | 689,130 |
Loss before income taxes | (17,498) |  | (34) |  | (17,532) |  | (20,541) |  | (510) |  | (21,051) |
Net loss | (17,932) |  | (34) |  | (17,966) |  | (21,037) |  | (510) |  | (21,547) |
Net loss per share | (1.13) |  | — |  | (1.13) |  | (1.33) |  | (0.04) |  | (1.37) |
Total comprehensive loss | (17,950) |  | (34) |  | (17,984) |  | (21,044) |  | (510) |  | (21,554) |
CORRECTED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited)
| Sixteen Weeks Ended April 16, 2023
(in thousands) | Accumulated Deficit | Total Shareholders' Equity
As Previously Reported |  |
Balance, December 25, 2022 | $ | (50,604) |  | $ | 5,375 |
Net loss | (3,100) |  | (3,100) |
Balance, April 16, 2023 | (53,704) |  | 4,686 |
Adjustments |  |
Balance, December 25, 2022 | (3,586) |  | (3,586) |
Net loss | (156) |  | (156) |
Balance, April 16, 2023 | (3,741) |  | (3,741) |
As Corrected |  |
Balance, December 25, 2022 | (54,190) |  | 1,789 |
Net loss | (3,256) |  | (3,256) |
Balance, April 16, 2023 | $ | (57,445) |  | $ | 945 |
CORRECTED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited)
| Twenty-Eight Weeks Ended July 10, 2022
(in thousands) | Retained Earnings/ (Accumulated Deficit) | Total Shareholders' Equity
As Previously Reported |  |
Balance, December 26, 2021 | $ | 27,196 |  | $ | 76,974 |
Net loss | (3,105) |  | (3,105) |
Balance, April 17, 2022 | 24,091 |  | 76,857 |
Adjustments |  |
Balance, December 26, 2021 | (2,503) |  | (2,503) |
Net loss | (476) |  | (476) |
Balance, April 17, 2022 | (2,979) |  | (2,979) |
As Corrected |  |
Balance, December 26, 2021 | 24,693 |  | 74,471 |
Net loss | (3,581) |  | (3,581) |
Balance, April 17, 2022 | 21,112 |  | 73,878 |
As Previously Reported |  |
Balance, April 17, 2022 | 24,091 |  | 76,857 |
Net loss | (17,932) |  | (17,932) |
Balance, July 10, 2022 | 6,159 |  | 61,575 |
Adjustments |  |
Balance, April 17, 2022 | (2,979) |  | (2,979) |
Net loss | (34) |  | (34) |
Balance, July 10, 2022 | (3,013) |  | (3,013) |
As Corrected |  |
Balance, April 17, 2022 | 21,112 |  | 73,878 |
Net loss | (17,966) |  | (17,966) |
Balance, July 10, 2022 | $ | 3,146 |  | $ | 58,562 |
CORRECTED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
| Twenty-Eight Weeks Ended July 10, 2022
(in thousands) | As Previously Reported | Adjustment | As Corrected
Net income (loss) | $ | (21,037) |  | $ | (510) |  | $ | (21,547) |
Gift card breakage | (8,099) |  | 459 |  | (7,640) |
Unearned revenue | (8,283) |  | 51 |  | (8,232) |

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