---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-042099"
form_type: "8-K"
ticker: "DRVN"
cik: "0001804745"
company_name: "Driven Brands Holdings Inc."
filed_at: "2024-02-22T23:59:59+00:00"
generated_at: "2026-06-05T19:59:09.880793+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Driven Brands FY23 Revenue Up 13% to $2.3B; Net Loss $745M on Car Wash Impairment

## Summary
- FY23 revenue $2.3B (+13%); system-wide sales $6.3B (+12%); 7% same-store sales growth; 183 net new stores.
- Net loss $745.0M ($4.53 loss per share) vs prior year net income $43.2M; includes $851M non-cash goodwill impairment in Car Wash.
- Adjusted EBITDA $535.1M (+4%); Adjusted EPS $0.93 (-24%); cash from ops $235.2M (+19%).
- Q4 revenue $553.7M (+3%); net loss $13.1M; Adjusted EBITDA $129.0M (-1%); same-store sales +4%.

## SEC filing metadata
- accession: 0001193125-24-042099
- form_type: 8-K
- ticker: DRVN
- cik: 0001804745
- company_name: Driven Brands Holdings Inc.
- filed_at: 2024-02-22T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1804745/000119312524042099/0001193125-24-042099-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1804745/000119312524042099/d783391d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-042099
- JSON: https://secwatch.observer/filing/0001193125-24-042099.json
- Plain text: https://secwatch.observer/filing/0001193125-24-042099.txt

## Key facts
- Earnings Releases
  Driven Brands Holdings Inc. reported quarter and fiscal year ended December 30, 2023 results: revenue Revenue of $2.3 billion for the fiscal year; Revenue of $553.7 million for the fourth quarter, net income Net Loss of $745.0 million for the fiscal year; Net Loss of $13.1 million for the fourth quarter, EPS Net Loss of $4.53 per diluted share for the fiscal year; Net Loss of $0.08 per diluted share for the fourth quarter. Guidance initiated.
  - Period: quarter and fiscal year ended December 30, 2023
  - Revenue: Revenue of $2.3 billion for the fiscal year; Revenue of $553.7 million for the fourth quarter
  - Net income: Net Loss of $745.0 million for the fiscal year; Net Loss of $13.1 million for the fourth quarter
  - EPS: Net Loss of $4.53 per diluted share for the fiscal year; Net Loss of $0.08 per diluted share for the fourth quarter
  - Guidance: initiated
  - Result: reported results
  source text: reported financial results for the fourth quarter and fiscal year ended December 30, 2023. Fiscal Year 2023 Highlights For the fiscal year, Driven Brands delivered revenue of $2.3 billion, up 13% versus the prior year. System-wide sales were $6.3 billion, up 12% versus the prior year driven by 7% same-store sales growth and 4% net store growth. The Company added
  evidence_url: https://www.sec.gov/Archives/edgar/data/1804745/000119312524042099/0001193125-24-042099-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.