| Schedule of Fiscal Year End Dates |
Our current, prior, and upcoming year periods, period end dates, and number of weeks included in the period are summarized in the table below:
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| Periods |
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Period End Date |
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Number of Weeks in Period |
| Current and Prior Fiscal Quarters: |
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First Quarter 2024 |
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April 21, 2024 |
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16 |
First Quarter 2023 |
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April 16, 2023 |
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16 |
Second Quarter 2024 |
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July 14, 2024 |
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12 |
Second Quarter 2023 |
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July 9, 2023 |
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12 |
Third Quarter 2024 |
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October 6, 2024 |
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12 |
Third Quarter 2023 |
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October 1, 2023 |
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12 |
| Current and Prior Fiscal Years: |
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Fiscal Year 2024 |
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December 29, 2024 |
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52 |
Fiscal Year 2023 |
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December 31, 2023 |
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53 |
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| Schedule of Error Corrections and Prior Period Adjustments |
The following tables reflect the effects of the correction on all affected line items of the Company's previously reported Condensed Consolidated Financial Statements for the quarter ended April 16, 2023 presented in this Form 10-Q:
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CORRECTED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (unaudited) |
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Quarter Ended April 16, 2023 |
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| (in thousands) |
As Previously Reported |
Adjustment |
As Corrected |
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| Other revenues |
$ |
5,792 |
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$ |
(156) |
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$ |
5,636 |
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| Total revenues |
417,968 |
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(156) |
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417,812 |
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| Loss before income taxes |
(3,080) |
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(156) |
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(3,236) |
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| Net loss |
(3,100) |
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(156) |
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(3,256) |
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| Net loss per share |
(0.19) |
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(0.01) |
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(0.20) |
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| Total comprehensive loss |
(3,092) |
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(156) |
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(3,248) |
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| OTHER NON-GAAP INFORMATION: |
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| Adjusted EBITDA |
36,080 |
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(156) |
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35,924 |
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CORRECTED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (unaudited)
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Quarter Ended April 16, 2023 |
| (in thousands) |
Retained Earnings/(Accumulated Deficit) |
Total Shareholders' Equity |
| As Previously Reported |
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| Balance, December 25, 2022 |
$ |
(50,604) |
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$ |
5,375 |
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| Net loss |
(3,100) |
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(3,100) |
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| Balance, April 16, 2023 |
(53,704) |
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4,686 |
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| Adjustments |
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| Balance, December 25, 2022 |
(3,586) |
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(3,586) |
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| Net loss |
(156) |
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(156) |
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| Balance, April 16, 2023 |
(3,741) |
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(3,741) |
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| As Corrected |
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| Balance, December 25, 2022 |
(54,190) |
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1,789 |
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| Net loss |
(3,256) |
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(3,256) |
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| Balance, April 16, 2023 |
(57,445) |
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945 |
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CORRECTED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) |
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Quarter Ended April 16, 2023 |
| (in thousands) |
As Previously Reported |
Adjustment |
As Corrected |
| Net loss |
$ |
(3,100) |
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$ |
(156) |
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$ |
(3,256) |
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| Gift card breakage |
(4,965) |
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156 |
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(4,809) |
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