secwatch.observer — SEC 8-K summary
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Issuer:     Fat Brands, Inc (FATAQ)
CIK:        0001705012
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001628280-24-019608
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FAT Brands Q1 revenue up 43.8% to $152M; net loss widens to $38.3M
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- Total revenue $152.0M (+43.8% YoY) driven by Smokey Bones acquisition; system-wide same-store sales down 4.0%.
- Net loss $38.3M ($2.37 diluted EPS) vs. $32.1M ($2.05) year ago; adjusted net loss $32.9M ($2.05).
- Adjusted EBITDA $18.2M vs. $19.2M in prior year; EBITDA $9.4M vs. $7.7M.
- Signed over 150 development deals; pipeline over 1,200 locations; plan 15-20 new Twin Peaks lodges in 2024.
- 16 new store openings in Q1; first Smokey Bones conversion to Twin Peaks underway.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1705012/000162828024019608/0001628280-24-019608-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1705012/000162828024019608/fat-20240501.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-019608

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