secwatch.observer — SEC 8-K summary
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Issuer:     Fat Brands, Inc (FATAQ)
CIK:        0001705012
Form:       8-K
Filed at:   2023-05-08T23:59:59+00:00
Accession:  0001628280-23-016404
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FAT Brands Q1 rev $105.7M, net loss $1.95/sh, appoints co-CEOs
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- Revenue $105.7M (+8.5% YoY); net loss $32.1M ($1.95/diluted) vs $23.8M ($1.45/diluted) year ago.
- Adjusted EBITDA $19.2M vs $15.1M; adjusted net loss $23.5M ($1.43/diluted) vs $18.5M ($1.13/diluted).
- System-wide same-store sales up 4.3% YoY; opened 41 new units in Q1, plans 175 for FY 2023.
- G&A expense up 14.8% due to professional fees for pending litigation and government investigations.
- Appoints Ken Kuick and Rob (last name not given) as Co-CEOs; Andy Wiederhorn remains Chairman.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1705012/000162828023016404/0001628280-23-016404-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1705012/000162828023016404/fat-20230508.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-016404

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer