Content analysis
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H.S. sophomore Avg
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New words:
acknowledge, Alliance, appellate, armed, assignment, attack, background, Bakery, BANQ, barbecue, barbeque, baseline, Boswell, boutique, brother, BusinessWeek, Cambria, Cantina, Carmen, Cinematic, CIO, Clawback, Clearing, CNBC, codetermine, compliant, compromise, compromised, cousin, cyber, deadline, Dean, Denny, Desk, disaggregated, Dockside, Dorado, DSM, DTCC, easier, EDGAR, eighteen, El, Elenowitz, essential, Eve, eventual, evolution, evolving, exploited, fact, factor, father, Feinstein, fintech, Fintex, Forum, Fox, Gini, goal, grandfather, grandson, Green, handcrafted, harden, Harvard, Horizon, Hotel, infallible, Island, JMP, John, Journal, Kepp, layered, leaseback, led, Leventhal, lift, lived, lunch, Mark, Maryland, Matthew, McKinney, Meat, memorable, merchant, Mercury, MERJ, Metz, MGO, Midwest, moot, nephew, night, NLRB, Noncurrent, OKC, page, Patch, patching, pension, perfectly, Peter, population, posture, Prime, proactive, professor, Provost, purple, quantitative, recipient, reconciliation, refile, refreshed, Reg, reset, resetting, Resid, resignation, restored, RREMC, safeguard, Sarasota, saving, scanner, scanning, sensitivity, SHAC, Smokey, sophisticated, sovereign, Spanish, speaker, spinning, standalone, Star, Steering, subscribe, Sugar, Syndicate, tasked, terrorist, tool, Tyler, UCLA, understood, unrecognized, unused, Upstream, vacate, vacated, vacation, vetted, Vidal, Videographer, vulnerability, Wahoo, war, WFE
Removed:
accommodating, al, Andersen, Arthur, Asia, Brown, CBS, CFA, channel, classification, coffee, compostable, conform, contact, contracting, contractor, COVID, created, define, dessert, devoted, disease, doubled, earn, East, England, FBR, featured, Finally, gathering, grew, Grub, Hershinger, Hub, impose, incumbent, infection, introduce, join, legacy, making, man, mandatory, McDonald, membership, Michigan, mutual, Ohio, outbreak, partnered, pursuing, reach, reached, Rebecca, reclassification, repaid, satisfaction, Stifel, suggested, targeted, television, thrift, trainee, transmitted, Trident, Turtlerock, Undercover, USA, vegan, vegetarian, voluntary, worked
Financial report summary
?Risks
- Our operating and financial results and growth strategies are closely tied to the success of our franchisees.
- Our franchisees could take actions that could harm our business and may not accurately report sales.
- If we fail to identify, recruit and contract with a sufficient number of qualified franchisees, our ability to open new franchised restaurants and increase our revenues could be materially adversely affected.
- If we fail to open new domestic and international franchisee-owned restaurants on a timely basis, our ability to increase our revenues could be materially adversely affected.
- Negative publicity relating to one of our franchised restaurants could reduce sales at some or all of our other franchised restaurants.
- Our brands’ value may be limited or diluted through franchisee and third-party activity.
- We have significant outstanding indebtedness under our whole-business securitization facilities, which require that we generate sufficient cash flow to satisfy the payment and other obligations under the terms of our debt and exposes us to the risk of default and lender remedies.
- We may pursue opportunistic acquisitions of additional brands, and we may not find suitable acquisition candidates or successfully operate or integrate any brands that we may acquire.
- Food safety and foodborne illness concerns may have an adverse effect on our business.
- The sale of alcoholic beverages at Twin Peaks and Smokey Bones Restaurants subjects us to additional regulations and potential liability.
- Our success depends substantially on our corporate reputation and on the value and perception of our brands.
- Failure to protect our service marks or other intellectual property could harm our business.
- If our franchisees are unable to protect their customers’ credit card data and other personal information, our franchisees could be exposed to data loss, litigation, and liability, and our reputation could be significantly harmed.
- We and our franchisees rely on computer systems to process transactions and manage our business, and a disruption or a failure of such systems or technology could harm our ability to effectively manage our business.
- Our business may be adversely affected by cybersecurity incidents, which result in unauthorized access, theft, modification or destruction of confidential information that is stored in our systems or by third parties on our behalf.
- The retail food industry in which we operate is highly competitive.
- Supply chain shortages or interruptions in the availability and delivery of food and other supplies may increase costs or reduce revenues.
- Climate change and the shift to more sustainable business practices could negatively affect our business or damage our reputation.
- Our business may be adversely impacted by changes in consumer discretionary spending, general economic conditions, or consumer behavior.
- Our expansion into international markets exposes us to a number of risks that may differ in each country where we have franchised restaurants.
- We depend on key executive management.
- Labor shortages or difficulty finding qualified employees could slow our growth, harm our business and reduce our profitability.
- Changes in labor and other operating costs could adversely affect our results of operations.
- The Company faces risks related to pending government investigations.
- We are a party to stockholder litigation which could negatively impact our business, operating results and financial condition.
- We could be party to litigation that could adversely affect us by increasing our expenses, diverting management attention or subjecting us to significant monetary damages and other remedies.
- Our subsidiary Fog Cutter Acquisition, LLC is a party to environmental litigation which could result in significant legal expenses whether or not it is resolved favorably.
- Changes in, or noncompliance with, governmental regulations may adversely affect our business operations, growth prospects or financial condition.
- Failure to comply with antibribery or anticorruption laws could adversely affect our business operations.
- We are controlled by Fog Cutter Holdings LLC, whose interests may differ from those of our public stockholders.
- We may continue to issue shares of preferred stock in the future, which could make it difficult for another company to acquire us or could otherwise adversely affect holders of our Common Stock, which could depress the price of our Common Stock.
- The provision of our certificate of incorporation requiring exclusive venue in the Court of Chancery in the State of Delaware for certain types of lawsuits may have the effect of discouraging lawsuits against our directors and officers.
- If our operating and financial performance in any given period does not meet the guidance that we provide to the public, our stock price may decline.
- Our ability to pay regular dividends to our stockholders is subject to the discretion of our Board of Directors and may be limited by our holding company structure and applicable provisions of Delaware law.
Management Discussion
- We operate on a 52-week or 53-week fiscal year ending on the last Sunday of the calendar year. In a 52-week fiscal year, each quarter contains 13 weeks of operations. In a 53-week fiscal year, each of the first, second and third quarters includes 13 weeks of operations and the fourth quarter includes 14 weeks of operations, which may cause our revenue, expenses and other results of operations to be higher due to an additional week of operations. The 2023 fiscal year is a 53-week year. The 2022 fiscal year was a 52-week year.
- Results of Operations of FAT Brands Inc.
- Net loss for the fiscal year ended December 31, 2023, totaled $90.1 million consisting of revenues of $480.5 million less costs and expenses of $458.1 million, other expense of $118.7 million, and income tax provision of $6.3 million. Net loss for the fiscal year ended December 25, 2022, totaled $126.2 million consisting of revenues of $407.2 million less costs and expenses of $425.1 million, other expense of $89.5 million plus an income tax provision of $18.8 million.