Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED BALANCE SHEETS

v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 28, 2025
Dec. 29, 2024
Current assets:    
Cash and cash equivalents $ 19,924 $ 30,651
Accounts receivable, net 19,441 19,688
Inventories 25,729 26,737
Prepaid expenses and other current assets 14,234 13,608
Restricted cash 9,615 8,750
Total current assets 88,943 99,434
Property and equipment, net 158,105 181,224
Operating lease assets, net 295,996 331,617
Intangible assets, net 9,155 11,064
Assets held for sale 2,263 4,313
Other assets, net 9,065 13,662
Total assets 563,527 641,314
Current liabilities:    
Accounts payable 31,391 29,783
Accrued payroll and payroll-related liabilities 44,039 39,672
Unearned revenue 27,287 27,083
Current portion of operating lease liabilities 49,111 50,083
Accrued liabilities and other 46,801 42,931
Total current liabilities 198,629 189,552
Long-term debt 164,741 181,641
Long-term portion of operating lease liabilities 300,055 345,635
Other non-current liabilities 6,450 8,755
Total liabilities 669,875 725,583
Commitments and contingencies (see Note 12.)
Stockholders' equity (deficit):    
Common stock, $0.001 par value: 45,000 shares authorized; 22,050 shares issued; 18,009 and 17,403 shares outstanding as of December 28, 2025 and December 29, 2024 22 22
Preferred stock, $0.001 par value: 3,000 shares authorized; no shares issued and outstanding as of December 28, 2025 and December 29, 2024 0 0
Treasury stock: 4,041 and 4,647 shares, at cost as of December 28, 2025 and December 29, 2024 (143,247) (164,937)
Paid-in capital 213,180 233,667
Accumulated other comprehensive income (loss), net of tax (60) (62)
Retained earnings (accumulated deficit) (176,243) (152,959)
Total stockholders' equity (deficit) (106,348) (84,269)
Total liabilities and stockholders' equity (deficit) $ 563,527 $ 641,314