secwatch.observer — SEC 8-K summary
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Issuer:     Fat Brands, Inc (FATAQ)
CIK:        0001705012
Form:       8-K
Filed at:   2025-07-30T23:59:59+00:00
Accession:  0001628280-25-036715
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 Q2 revenue down 3.4% to $146.8M; net loss widens to $54.2M
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- Net loss of $54.2M ($3.17 per diluted share) vs $39.4M loss ($2.43) in Q2 2024; adjusted net loss of $49.0M ($2.88).
- Total revenue fell 3.4% to $146.8M; system-wide same-store sales declined 3.9%.
- Opened 18 new locations; pipeline of ~1,000 signed deals with goal of >100 openings in 2025.
- Secured bondholder agreement to convert amortizing bonds to interest-only, generating $30-40M annual cash savings; dividend pause remains, preserving $36-40M annually.
- Negative EBITDA of $6.0M vs positive $6.8M a year ago; adjusted EBITDA flat at $15.7M; G&A up 50.3% due to share-based comp and ERC reversal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1705012/000162828025036715/0001628280-25-036715-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1705012/000162828025036715/fat-20250730.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-036715

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