FAT Brands Q4 revenue up 39.9% to $103.8M; net loss widens to $70.8M

Fat Brands, Inc

2022-FY EPS reported -$7.66 revenue$407,224,000

Total revenue $103.8M (+39.9% YoY); full-year revenue $407.2M (+242.5%).
Q4 net loss $70.8M ($4.29/diluted share) vs $19.6M loss in prior year; adjusted net loss $43.0M ($2.60/share).
Q4 adjusted EBITDA $19.6M vs $10.4M; full-year adjusted EBITDA $88.8M vs $21.1M.
Over 140 store openings in 2022, including 44 in Q4; 2023 guidance of 150-175 openings.
System-wide same-store sales growth 2.7% in Q4, 6.0% for full year; system-wide sales growth 22.1% in Q4.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fat Brands, Inc reported the fiscal year ended December 25, 2022 results: revenue $407.2 million, net income Net loss of $126.2 million, EPS $7.66 per diluted share.

Period: the fiscal year ended December 25, 2022
Revenue: $407.2 million
Net income: Net loss of $126.2 million
EPS: $7.66 per diluted share
Result: reported results

Exact text from the filing

• Total revenue increased 242.5% to $407.2 million compared to $118.9 million in 2021 ◦ System-wide sales growth of 108.0% compared to 2021 ◦ Year-to-date system-wide same-store sales growth of 6.0% in 2022 compared to 2021 ◦ Over 140 new store openings during 2022 • Net loss of $126.2 million, or $7.66 per diluted share, compared to $31.6 million, or $2.15 per diluted share, in 2021

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fat Brands, Inc reported the fourth quarter of 2022 results: revenue $103.8 million, net income Net loss of $70.8 million, EPS $4.29 per diluted share.

Period: the fourth quarter of 2022
Revenue: $103.8 million
Net income: Net loss of $70.8 million
EPS: $4.29 per diluted share
Result: reported results

Exact text from the filing

• Total revenue improved 39.9% to $103.8 million compared to $74.2 million in the fourth quarter of 2021 ◦ System-wide sales growth of 22.1% in the fourth quarter of 2022 compared to the prior year quarter ◦ Year-to-date system-wide same-store sales growth of 2.7% in the fourth quarter of 2022 compared to the prior year ◦ 44 new store openings during the fourth quarter of 2022 and over 140 openings during the year • Net loss of $70.8 million, or $4.29 per diluted share, compared to $19.6 million, or $1.38 per diluted share, in the fourth quarter of 2021

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Source: SEC EDGAR

accession 0001628280-23-004576

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