---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-008637"
form_type: "8-K"
ticker: "FATAQ"
cik: "0001705012"
company_name: "Fat Brands, Inc"
filed_at: "2025-02-27T23:59:59+00:00"
generated_at: "2026-05-26T02:14:29.738443+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# FAT Brands Q4 net loss $67.4M; plans refranchise Fazoli's, spin-out Twin Hospitality

## Summary
- Total revenue Q4 down 8.4% to $145.3M; net loss $67.4M ($4.06 diluted EPS) vs $26.2M loss in prior-year quarter.
- Full-year FY2024 revenue up 23.4% to $592.7M; net loss $189.8M ($11.60 diluted EPS) vs $90.1M loss.
- Adjusted EBITDA Q4 $14.4M (down from $27.0M); FY $62.4M (down from $91.2M); both impacted by extra week in prior year.
- System-wide same-store sales declined 1.6% in Q4 and 2.5% for full year; opened 92 restaurants in FY2024.
- Strategic: completed spin-out of Twin Hospitality Group; plans to refranchise 57 company-owned Fazoli's locations to become nearly 100% franchised.

## SEC filing metadata
- accession: 0001628280-25-008637
- form_type: 8-K
- ticker: FATAQ
- cik: 0001705012
- company_name: Fat Brands, Inc
- filed_at: 2025-02-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1705012/000162828025008637/0001628280-25-008637-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1705012/000162828025008637/fat-20250227.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-008637
- JSON: https://secwatch.observer/filing/0001628280-25-008637.json
- Plain text: https://secwatch.observer/filing/0001628280-25-008637.txt

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