BurgerFi International (BFICQ) 10-Q 19 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	May 17, 2021
Document Information [Line Items]
Document Type	10-Q
Entity Registrant Name	BurgerFi International, Inc.
Entity Central Index Key	0001723580
Amendment Flag	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,838,476
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity File Number	001-38417
Entity Tax Identification Number	82-2418815
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	105 U.S. Highway 1
Entity Address, City or Town	North Palm Beach
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33408
City Area Code	561
Local Phone Number	844-5528
Common Stock [Member]
Document Information [Line Items]
Trading Symbol	BFI
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Security Exchange Name	NASDAQ
Redeemable Warrants [Member]
Document Information [Line Items]
Trading Symbol	BFIIW
Title of 12(b) Security	Redeemable warrants, each exercisable for one share of common stock at an exercise price of $11.50 per share
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
CURRENT ASSETS
Cash	$ 34,654	$ 37,150
Cash - restricted	2,124	3,233
Accounts receivable, net	695	718
Inventory	232	268
Deferred income taxes		713
Asset held for sale	732	732
Other current assets	1,460	1,607
TOTAL CURRENT ASSETS	39,897	44,421
PROPERTY & EQUIPMENT, net	9,263	8,004
DUE FROM RELATED COMPANIES	97	74
GOODWILL	119,955	119,542
INTANGIBLE ASSETS	115,051	116,824
OTHER ASSETS	258	251
TOTAL ASSETS	284,521	289,116
CURRENT LIABILITIES
Accounts payable - trade	2,686	1,678
Accrued expense	969	1,203
Other deposit	907	907
Other liabilities	803	430
Deferred initial franchise fees, current portion	466	490
Notes payable - current	1,203	1,438
Revolving line of credit	0	3,012
TOTAL CURRENT LIABILITIES	7,034	9,158
NON-CURRENT LIABILITIES
Deferred initial franchise fees, net of current portion	2,845	2,816
Warrant liability	21,462	16,516
Notes Payable	1,633	1,522
Deferred rent	160	29
TOTAL LIABILITIES	33,134	30,041
COMMITMENTS AND CONTINGENCIES - Note 10
Stockholders' equity
Common stock, $0.0001 par value, 100,000,000 shares authorized, 17,830,507 and 17,541,838 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	2	2
Additional paid-in capital	261,820	261,298
Accumulated deficit	(10,435)	(2,225)
TOTAL STOCKHOLDERS' EQUITY	251,387	259,075
TOTAL LIABILITIES AND MEMBERS' EQUITY	$ 284,521	$ 289,116

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Common stock par value per share	$ 0.0001	$ 0.0001
Common stock shares authorized	100,000,000	100,000,000
Common stock shares issued	17,830,507	17,541,838
Common stock shares outstanding	17,830,507	17,541,838

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Business Acquisition [Line Items]
TOTAL REVENUE	$ 11,035	$ 8,337
Restaurant level operating expenses:
Food, beverage and paper costs	2,432	1,844
Labor and related expenses	2,290	1,895
Other operating expenses	1,841	981
Occupancy and related expenses	792	569
General and administrative expenses	2,985	1,586
Share-based compensation expense	522
Depreciation and amortization expense	2,108	244
Brand development and co-op advertising expense	722	470
TOTAL OPERATING EXPENSES	13,692	7,589
OPERATING (LOSS) INCOME	(2,657)	748
Other income	114	59
Loss on change in value of warrant liability	(4,946)
Interest expense	(8)	(30)
(Loss) Income before income taxes	(7,497)	777
Income tax expense	(713)
Net (Loss) Income	(8,210)	777
Net Income Attributable to Non-Controlling Interests (predecessor)		5
Net (Loss) Income Attributable to common shareholders (successor) and Controlling Interests (predecessor)	$ (8,210)	772
Weighted average common shares outstanding
Basic and Diluted	17,814,336
Net (loss) income per common share
Basic and Diluted	$ (0.46)
Restaurant Sales Revenues [Member]
Business Acquisition [Line Items]
TOTAL REVENUE	$ 8,506	6,123
Royalty And Other Revenues [Member]
Business Acquisition [Line Items]
TOTAL REVENUE	1,910	1,696
Royalty Brand Development And Coop Revenues [Member]
Business Acquisition [Line Items]
TOTAL REVENUE	511	417
Franchise Fees [Member]
Business Acquisition [Line Items]
TOTAL REVENUE	$ 108	$ 101

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders'/Members' Equity - USD ($) $ in Thousands	Total	Controlling Interest [Member]	NonControlling Interest [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit
Beginning balance at Dec. 31, 2019	$ 2,507	$ 2,492	$ 15
Net (loss) income	777	772	5
Contributions	0
Distributions	(20)	(20)
Ending balance at Mar. 31, 2020	3,264	$ 3,244	$ 20
Net (loss) income	(8,210)					$ (8,210)
Beginning balance at Dec. 31, 2020	259,075			$ 2	$ 261,298	(2,225)
Beginning Balance , Shares at Dec. 31, 2020				17,541,838
Share-based compensation	447				447
Shares issued for share-based compensation	75				75
Shares issued for share-based compensation , Shares				5,000
Exchange of UPO units, Value	0			$ 0
Exchange of UPO units, Shares				283,669
Ending Balance at Mar. 31, 2021	$ 251,387			$ 2	$ 261,820	$ (10,435)
Ending Balance , Shares at Mar. 31, 2021				17,830,507

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CASH FLOWS PROVIDED BY OPERATING ACTIVITIES
Net (loss) income	$ (8,210)	$ 777
Adjustments to reconcile net (loss) income to net cash provided by operating activities
Provision for bad debts	38
Depreciation and amortization	2,108	244
Gain on PPP loan forgiveness	(114)
Deferred income taxes	713
Share-based compensation	522
Forfeited franchise deposits	(40)	(15)
Change in fair value of warrant liability	4,946
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable	(15)	105
Inventory	36	10
Other assets	119	80
Accounts payable - trade	1,008	296
Accrued expenses and other liabilities	(261)	(193)
Deferred franchise fees	45	119
Deferred Rent	131	193
NET CASH PROVIDED BY OPERATING ACTIVITIES	1,026	1,616
NET CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(1,564)	(910)
Trademark cost	(22)
Advances to related companies	(23)	(3,110)
Repayments from related companies		1,972
Deposit on sale		907
NET CASH USED IN INVESTING ACTIVITIES	(1,609)	(1,141)
NET CASH FLOWS FROM FINANCING ACTIVITIES
Payments on revolving line of credit	(3,012)	(300)
Proceeds on revolving line of credit		638
Payments on notes payable	(10)
Members' distributions		(20)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(3,022)	318
NET (DECREASE) INCREASE IN CASH	(3,605)	793
CASH, beginning of period	40,383	2,417
CASH, end of period	$ 36,778	$ 3,210

Description of Business and Org

Description of Business and Organization	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Description of Business and Organization	1. Description of Business and Organizatio n BurgerFi International, Inc. (“BurgerFi,” the “Company,” or “Successor,” also “we,” “us,” and “our”), is a fast-casual “better burger” concept with approximately 117 franchised and corporate owned restaurants, renowned for delivering an exceptional, all-natural hand-cut go-to all-natural On December 16, 2020 (

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	2 . Basis of Presentation The accompanying consolidated financial statements are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions for Form 10-Q 8 -03 S-X. 10-K 10-K”). The historical financial information of Opes has not been reflected in the Predecessor financial statements as these historical amounts have been determined to be not useful information to a user of the financial statements. SPACs deposit the proceeds from their initial public offerings into a segregated trust account until a business combination occurs, where such funds are then used to pay consideration for the acquiree and/or to pay stockholders who elect to redeem their shares of common stock in connection with the business combination. The operations of a SPAC, until the closing of a business combination, other than income from the trust account investments and transaction expenses, are nominal. Accordingly, no other activity in the Company was reported for periods prior to December 16, 2020 besides BurgerFi’s operations as Predecessor. Reclassifications Certain reclassifications have been made to the prior period presentation to conform to the current period presentation. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingencies at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Corporate owned stores and Franchising BurgerFi has prepared its Franchise Disclosure Document as required by the United States Federal Trade Commission and has registered or will register in those states where required in order to legally sell its franchises. It is currently BurgerFi’s plan to offer franchises for sale in those states where demographics of the population represent a demand for the services. BurgerFi grants franchises to independent operators who in turn pay an initial franchise fee, royalties and other fees as stated in the franchise agreement. Store activity for the periods ended March 31, 2021 and 2020 is as follows: Three Months Ended Year Ended Franchised stores, beginning of the period 102 117 Stores opened during the period 2 9 Stores transferred/sold to the Company — (2 ) Stores closed during the period (6 ) (22 ) Franchised stores, end of the period 98 102 Three Months Ended Year Ended Corporate owned stores, beginning of the period 17 13 Stores opened during the period 2 2 Stores transferred/sold to the Company — 2 Stores closed during the period — — Corporate owned stores, end of the period 19 17 COVID-19 On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus originating in Wuhan, China (the “COVID-19 COVID-19 COVID-19 stay-at-home dine-in take-out, off-premises saw New Accounting Standards Adopted In December 2019, the 2019-12, New Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, o The FASB issued ASU 2016-13, Financial Net Loss per Common Share Net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. As a result, diluted loss per common share is the same as basic loss per common share for the three months ended March 31, 2021. The Company has considered the effect of (1) warrants outstanding to purchase 15,095,000 shares of common stock (2) The historical partnership equity structure of BurgerFi did not include outstanding member units and as such, earnings per share information is omitted for the Predecessor periods. Reconciliation of Net Loss per Common Share Basic and diluted loss per common share is calculated as follows (in thousands, except per share data): Three Months Net loss attributable to common shareholders $ (8,210 ) Weighted average common shares outstanding, basic and dilu te d 17,814,336 Basic and diluted net loss per common share $ (0.46 ) Excluded from the weighted average common shares outstanding amount are warrants of 3,004,030 and UPOs of 37,687

Restricted Cash

Restricted Cash	3 Months Ended
	Mar. 31, 2021
Restricted Cash Disclosure [Abstract]
Restricted Cash	3. Restricted Cash Restricted cash consisted of the following as of (in thousands): March 31, December 31, PPP amount held in escrow $ 2,124 $ 2,237 Cash proceeds from Business Combination held back for working capital adjustment — 996 Total Restricted Cash $ 2,124 $ 3,233 Certain amounts presented as restricted cash as of December 31, 2020 have been reclassified to cash as there are no requirements placing a restriction on such cash balances. The decrease in the PPP amount held in escrow is a consequence of PPP forgiveness on one of the loans.

Property & Equipment

Property & Equipment	3 Months Ended
	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Property & Equipment	4. Property & Equipment Property and equipment, net consisted of the following (in thousands): March 31, 2021 December 31 Leasehold improvements $ 6,651 $ 5,477 Machinery & equipment 1,727 1,548 Computer equipment 318 208 Furniture & fixtures 893 792 Vehicles 27 27 9,616 8,052 Less: Accumulated depreciation (353 ) (48 ) Property and equipment – net $ 9,263 $ 8,004 Depreciation expense for the Successor period from January 1, 2021 to March 31, 2021 and for the Predecessor period from January 1, 2020 to March 31, 2020 was $305,000 and $237,000, respectively. In conjunction with the Business Combination, the basis of all property and equipment was recognized at fair value in purchase accounting. Included within Leasehold improvements is approximately $1,025,000 and $103,000 as of March 31, 2021 and December 31, 2020 related to construction in progress. Such amounts are not depreciated until placed into service.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	5. Intangible Assets The following is a summary of the components of intangible assets and the related a c March 31, 2021 December 31, 2020 Intangible Assets (in thousands) Amount Accumulated Net Amount Accumulated Net Franchise agreements $ 24,839 $ 1,032 $ 23,807 $ 24,839 $ 147 $ 24,692 Trade names / trademarks 83,055 801 82,254 83,033 115 82,918 Liquor license 235 — 235 235 — 235 Reef Kitchens license agreement 8,882 258 8,624 8,882 37 8,845 VegeFi product 135 4 131 135 1 134 $ 117,146 $ 2,095 $ 115,051 $ 117,124 $ 300 $ 116,824 Liquor license is considered to have an indefinite life and is reviewed for impairment annually and whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. impairments were recognized for the three months ended March 31, 2021 and 2020. Amortization expense for the Successor period from January 1, 2021 to March 31, 2021 was $1.8 million ( in thousands ) Remainder of 2021 $ 5,423 2022 7,218 2023 7,218 2024 7,218 2025 7,218 2026 and thereafter 80,521 Total $ 114,816

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Business Combinations	6. Business Combinations On December 16, 2020, the Opes in the Business Combination was approximately $236.9 million which included a) a cash payment of $30,000,000, b) the issuance of 6,603,773 common stock shares valued at approximately $103,680,000, and The former members of BurgerFi may be entitled to additional shares of Common Stock if certain stock price targets are met by the Company (“Earnout Share Consideration”) on a pro-rata pre-closing The accounting for this Business Combination is considered provisional because certain aspects of the purchase price allocation including the valuation of certain acquired customer-related intangible assets have not been finalized. The following table represents changes to goodwill and the initial purchase price allocation as of March 31, 2021: (in thousands) Goodwill as of December 31, 2020 $ 119,542 Adjustments 413 Goodwill as of March 31, 2021 $ 119,955 Adjustments to goodwill during the period ended March 31, 2021 include updates to estimates of provisional amounts recorded as of the Business Combination.

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2021
Variable Interest Entity [Abstract]
Variable Interest Entities	7. Variable Interest Entities The Company has evaluated its business relationships with franchisees to identify potential variable interest entities (“VIEs”). While the Company holds a variable interest in some of the franchised restaurants owned by an affiliated entity, the Company is not the primary beneficiary since it does not have the power to direct the activities of these franchised restaurants. As a result, the Company does not consolidate those VIEs. At March 31, 2021, the Company is a guarantor for six operating leases for those affiliated entities and an unrelated party. The Company may become responsible for the payments under its guarantee. The Company has determined that its maximum exposure to loss on the VIEs that it is not the primary beneficiary on results from the lease guarantees amounts to approximately $5,949,000. On April 23, 2018 (the “Takeover Date”), the Company entered into an asset purchase and management agreement (the “APM”) with a multiple unit franchisee. The Company had evaluated the franchisee which is a party to the APM for VIE accounting under ASC 810 “Consolidation” and had determined that the franchisee under the APM was a VIE and that the Company was the primary beneficiary, effective on the Takeover Date. During 2020, the Company negotiated a release of the lien from the banks on the equipment in these restaurants and was able to have the leases on the restaurants assigned to BurgerFi and on December 31, 2020, BurgerFi discontinued the management of the two restaurants by termination of the APM and the franchise agreements. As a result of the discontinuation and termination of the APM, the franchisee was deconsolidated on December 31, 2020. Net sales for the consolidated VIE for the for the Predecessor period from January 1, 2020 to March 31, 2020 were $912,000. Net loss for the consolidated VIE for the Predecessor period from January 1, 2020 to March 31, 2020 was

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	8. Related Party Transactions The Company is affiliated with various entities through a significant shareholder. The accompanying condensed consolidated balance sheets reflect amounts related to periodic advances between the Company and these entities for working capital and other needs as due from related companies or due to related companies, as appropriate. The amounts due from related companies are not expected to be repaid within one year and accordingly, are classified as non-current non-interest There were approximately $97,000 and $74,000 included as due from related companies in the condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020, respectively. There were no amounts due to related companies as of March 31, 2021 and December 31, 2020. For the Successor period from January 1, 2021 to March 31, 202 1 o The Company pays certain payroll and administrative fees on behalf of the entities related to a significant shareholder. A management fee is then billed to the respective entities to cover these costs. For the Successor period from January 1, 2021 to March 31, 2021 and the Predecessor period from January 1, 2020 to March 31, 2020, these fees were included in the royalty revenue charged to these entities. The Company leases building space for its corporate office from an entity related to a significant shareholder. This lease has a 36 month term, effective January 1, 2020. For the Successor period from January 1, 2021 to March 31, 2021 and the Predecessor period from January 1, 2020 to March 31, 2020, rent expense was approximately $56,000 and $40,000, respectively.

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2021
Other Assets [Abstract]
Other Assets	9. Other Assets Other assets consisted of the following (in thousands): March 31, 2021 December 31, 2020 Lease Acquisition Costs, net of accumulated amortization $ 10 $ 18 Deposits and other non-current 248 233 Other assets $ 258 $ 251

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Leases The Company has entered into operating leases for its corporate headquarters and owned and operated restaurants. For the Successor period from January 1, 2021 to March 31, 2021 and the Predecessor period from January 1, 2020 to March 31, 2020, rent expense for the restaurants and the corporate office was approximately $ and $ , respectively. These lease agreements expire on various dates through and have renewal options. Remainder of 2021 $ 2,523 2022 3,958 2023 3,999 2024 3,677 2025 3,701 2026 and thereafter 29,477 Sale Commitment In February 2020, the Company entered into an asset purchase agreement with an unrelated third party for the sale of substantially all of the assets used in connection with the operation of BF Dania Beach, LLC for an aggregate purchase price of $1,299,000. During January 2020 on-going have been classified as held for sale as of March 31, 2021 and December 31, 2020 condensed consolidated balance sheet, respectively. Contingencies BurgerFi International, LLC filed a lawsuit against a franchisee and its principals seeking declaratory judgments and damages in an amount to be proven at trial for various breaches of the applicable franchise agreements resulting from the defendants’ closure of a restaurant, their failure to open a second restaurant, and their operational defaults at the closed restaurant. In April 2016, the defendants filed a counterclaim, asserting that they had no responsibility for their losses, and instead, alleged that the Company engaged in breach of contract, fraud, misrepresentation, conversion in connection with the operation of the restaurant, and various other allegations, seeking damages of over $5 million. The case is pending before the court. On December 30, 2016, the court stayed the case pending the resolution of bankruptcy filings made by some of the defendants. No further action has occurred. On December 1, 2019, a complaint was filed by a former officer of the Company (“Plaintiff”) against BurgerFi International, LLC for certain alleged breaches of an employment agreement. BurgerFi International, LLC filed a motion to dismiss the complaint on February 13, 2020. On May 20, 2020, the motion to dismiss was heard being granted in part and denied in part. The portion of the complaint not dismissed was answered by BurgerFi International, LLC with affirmative defenses raised on July 7, 2020. Plaintiff served various discovery requests (including notices of non-party non-party c On July 8, 2020, the Company received a letter from an attorney hired on behalf of a former employee of the Company. This former employee was terminated for cause on May 5, 2020. This letter claims that the former employee was terminated wrongfully by the Company. We have reported the claim to our insurance carrier and outside counsel has been retained. Our counsel sent a letter to this former employee’s attorney denying all claims and the parties met for mediation on September 4, 2020 but were unable to resolve this matter. The Company feels that all claims are meritless, and it plans to vigorously defend these allegations. On February 22, 2021, the Company received correspondence from an attorney hired on behalf of a former officer of the Company claiming that the Company wrongfully terminated the employee in violation of the Florida Whistleblower statute. The Company does not believe the claim has any merit and has retained counsel to represent it. In April 2021, both parties agreed to a settlement agreement. On March 3, 2021, the C o Management is unable to determine the likelihood of a loss or range of loss, if any, which may result from the cases described above, therefore, no contingent liability has been recorded as of March 31, 2021. The Company is subject to other legal proceedings and claims that arise during the normal course of business. Management believes that any liability, in excess of applicable insurance coverages or accruals, which may result from these claims, would not be significant to the Company’s financial position or results of operations.

Line of Credit

Line of Credit	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Line of Credit	11. Line of Credit The Company had a revolving line of credit agreement (“LOC”) of $5,000,000 with a maturity date of July 13, 2021. As of December 31, 2020, the outstanding balance on the revolving line credit was $3,012,000. In January 2021, the Company terminated the LOC and paid the total amount due of $3,012,000. The annual interest on advances under the LOC was equal to the LIBOR Daily Floating rate plus 0.75%.

Notes Payable

Notes Payable	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Notes Payable	12. Notes Paya b Notes Payable (in thousands) March 31, December 31, Paycheck Protection Program (“PPP”) $ 2,125 $ 2,237 Installment note payable 543 555 Other notes payable No recourse to the general credit of the Company 168 168 Total notes payable 2,836 2,960 Less: current portion (1,203 ) (1,438 ) Total notes payable - long $ 1,633 $ 1,522 On May 11, 2020 , under the Paycheck Protection Program (“PPP”). The loans and accrued interest are forgivable after eight weeks, as long as, the Company uses the loan proceeds for eligible purposes, including payroll, benefits, rent and utilities, and maintain its payroll levels. The amount of loan forgiveness will be reduced if the Company terminates employees or reduces salaries during the eight-week period. The unforgiven portion of the PPP loans are payable over two years at an interest rate of 1%, with a deferral of payments for the first seven months. The Company has begun the process of applying for PPP loan forgiveness in February of 2021, however, the Company cannot guarantee that it will be successful in obtaining forgiveness of the remaining principal amount of the PPP l $114,000 related to one PPP loan was forgiven. The installment note payable relates to a note payable to an individual, issued in connection with the Company’s April 2020 acquisition of $

Supplemental Disclosure of Nonc

Supplemental Disclosure of Noncash Activities	3 Months Ended
	Mar. 31, 2021
Noncash or Part Noncash Acquisition, Net Nonmonetary Assets Acquired (Liabilities Assumed) [Abstract]
Supplemental Disclosure Of Noncash Activities	13. Supplemental Disclosure of Noncash Activities As noted in Note 6, during the three months ended March 31, 2021, the Company recorded certain adjustments to goodwill in the amount of $ , to update the estimates to provisional amounts recorded as of the Business Combination. During the three months ended March 31, 2021, the Company received forgiveness of one of its PPP loans in the amount of $ , .

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	14. Income Taxes The Company is a corporation subject to federal income tax at a statutory rate of 21% of pretax earnings, and state income taxes at a blended statutory rate of 3.8% net of federal benefit. The Company has an annual effective income tax rate of 0% under ASC 740-270-30-36(a) due to a full valuation allowance. At March 31, 2021, based o $ million was recorded against the Company’s net deferred tax assets, including $0.7 million related to net deferred tax assets as of December 31, 2020. The net tax expense for the three months ended March 31, 2021 was million, resulting in an effective tax rate of approximately %. The primary difference from the federal statutory rate of is related to the valuation allowance. Prior to the Business Combination, the Predecessor had elected to be taxed as a partnership under the provisions of the Internal Revenue Code and similar state provisions. Therefore, there was no income tax recorded by the Company for the comparable Predecessor period from January 1, 2020 to March 31, 2020.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Stockholders' Equity	15. Stockholders’ Equity Common Stock The Company is authorized to issue 100,000,000 shares of c o . At March 31, 2021 and December 31, 2020, there were 17,830,507 shares and 17,541,838 shares of common stock outstanding, respectively. Preferred Stock The Company is authorized to issue 10,000,000 shares of preferred stock with a par value of $0.0001 per share with such designation, rights and preferences as may be determined from time to time by the Company’s Board of Directors. At March 31, 2021 and December 31, 2020, there were no shares of preferred stock issued or outstanding. Warrants and Options As of March 31, 2021, the Company had • 15,095,000 warrants outstanding, each exercisable for one share of common stock at an exercise price of $11.50 including 11,500,000 in Public Warrants, 3,000,000 in Private Placement Warrants, 445,000 in Private Warrants and 150,000 in Working Capital Warrants. The Public warrants expire in December 2025 • 75,000 Unit Purchase Option “UPO” units that are exercisable for one share of common stock at an exercise price of $10.00 and warrants exercisable for one share of common stock at an exercise price of $11.50 In February 2021, the Company exchanged 675,000 UPO units for 283,669 common shares in a cashless exercise. Warrant Liability The Company has certain warrants which include provisions that affect the settlement amount. Such variables are outside of those used to determine the fair value of a fixed-for-fixed 815-40, The liability classified warrants were priced using a Dynamic Black Scholes model. This process relies upon inputs such as shares outstanding, estimated stock prices, strike price, risk free interest rate and volatility assumptions. The warrant liability was $21,462,000 and $16,516,000 on March 31, 2021 and December 31, 2020, respectively. The change in value of warrant liability for the period ended March 31, 2021 was $4,946,000 and is recognized in the condensed consolidated statement of operations. There were no warrants outstanding in the Predecessor period. The following is an analysis of changes in the warrant liability for the three months ended March 31, 2021: (in thousands) Level 3 (Black Liability at December 31, 2020 $ 16,516 Loss during the three months ended March 31, 2021 4,946 Liability at March 31, 2021 $ 21,462 The fair value of the warrants are determined using the publicly-traded price of our common stock on the valuation dates of $15.41 on March 31, 2021 and $13.69 on December 31, 2020. The fair value is calculated using the Black-Scholes option-pricing model. The Black-Scholes model requires us to make assumptions and judgments about the variables used in the calculation, including the expected term, expected volatility, risk-free interest rate, dividend rate and service period. The fair value of private share warrants for the Successor period were estimated using a Dynamic Black Sholes model. This process relies upon inputs such as shares outstanding, estimated stock prices, strike price, risk free interest rate and volatility assumptions. The calculated warrant price for private warrants was $5.97 and $4.60 on March 31, 2021 and December 31, 2020, respectively. The input variables for the Black Scholes are noted in the table below: 2021 2020 Risk-free interest rate 0.84 % 0.36 % Expected life in years 4.72 5 Expected volatility 30.0 % 30.0 % Expected dividend yield 0 % 0 %

Share-based Compensation

Share-based Compensation	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Share-based Compensation	16. Share-based Compensation The Company h a . Restricted Stock Units The following table summarizes activity of Restricted Stock Units during the three months ended March 31, 2021: Number of Restricted Stock Weighted Average Grant Date Fair Value Non-vested 1,250,000 $ 15.28 Granted 1,105,700 14.62 Vested — — Forfeited — — Non-vested 2,355,700 $ 14.97 The total fair value of Restricted Stock million units 4-5 The unrecognized portion of share-based compensation for unvested Market Condition restricted stock units (included in above) is approximately $4.5 million over 2.90 years. As detailed below, the fair value of the Market Condition restricted stock units was determined using a Monte Carlo simulation model. Performance Shares The Company grants performa n The fair values of the performance condition awards granted were determined using the fair market value of the Company’s common stock on the date of grant. Share-based compensation expense recorded for performance condition awards is re-evaluated at each reporting period based on the probability of the achievement of the goal. The achievement of this goal was not probable as of March 31, 2021 and therefore expense was recognized. The fair value of market condition awards granted were estimated using the Monte Carlo simulation model. The Monte Carlo simulation model utilizes multiple input variables to estimate the probability that the market conditions will be achieved and is applied to the trading price of our common stock on the date of grant. The input variables are noted in the table below: 2021 2020 Risk-free interest rate 0.54 % 0.18 % Expected life in years 4 3 Expected volatility 63.3 % 65.9 % Expected dividend yield (a) 0 % 0 % (a) The Monte Carlo method assumes a reinvestment of dividends. Share-based compensation expense is recorded ratably for market condition awards during the requisite service period and is not reversed, except for forfeitures, at the vesting date regardless of whether the market condition is met. During the three months ended March 31, 2021, $248,000, representing a fair value of $11.04 per share, was recognized ratably as share-based compensation expense for the market condition awards. Service Condition Shares The Company grants service-based awards to certain officers and key employees. The vesting of these awards is contingent upon meeting the requisite service period. The fair value of restricted stock unit awards is determined using the publicly-traded price of our common stock on the grant date. The fair value of option awards is calculated using the Black-Scholes option-pricing model. The Black-Scholes model requires us to make assumptions and judgments about the variables used in the calculation, including the expected term, expected volatility, risk-free interest rate, dividend rate and service period. The following table summarizes activity of the restricted stock units by vesting condition during the three months ended March 31, 2021: Performance Condition Service Condition Market Condition Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Non-vested 950,000 $ 15.70 200,000 $ 15.70 100,000 $ 10.45 Granted 713,700 16.15 52,000 16.15 340,000 11.17 Vested — — — — — — Forfeited — — — — — — Non-vested 1,663,700 $ 15.89 252,000 $ 15.79 440,000 $ 11.01

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events In April 2021, the Company reached a settlement agreement with a former officer of the Company who claimed wrongfully termination and violation of the Florida Whistleblower statute.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions for Form 10-Q 8 -03 S-X. 10-K 10-K”). The historical financial information of Opes has not been reflected in the Predecessor financial statements as these historical amounts have been determined to be not useful information to a user of the financial statements. SPACs deposit the proceeds from their initial public offerings into a segregated trust account until a business combination occurs, where such funds are then used to pay consideration for the acquiree and/or to pay stockholders who elect to redeem their shares of common stock in connection with the business combination. The operations of a SPAC, until the closing of a business combination, other than income from the trust account investments and transaction expenses, are nominal. Accordingly, no other activity in the Company was reported for periods prior to December 16, 2020 besides BurgerFi’s operations as Predecessor.
Reclassifications	Reclassifications Certain reclassifications have been made to the prior period presentation to conform to the current period presentation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingencies at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Company owned stores and Franchising	Corporate owned stores and Franchising BurgerFi has prepared its Franchise Disclosure Document as required by the United States Federal Trade Commission and has registered or will register in those states where required in order to legally sell its franchises. It is currently BurgerFi’s plan to offer franchises for sale in those states where demographics of the population represent a demand for the services. BurgerFi grants franchises to independent operators who in turn pay an initial franchise fee, royalties and other fees as stated in the franchise agreement. Store activity for the periods ended March 31, 2021 and 2020 is as follows: Three Months Ended Year Ended Franchised stores, beginning of the period 102 117 Stores opened during the period 2 9 Stores transferred/sold to the Company — (2 ) Stores closed during the period (6 ) (22 ) Franchised stores, end of the period 98 102 Three Months Ended Year Ended Corporate owned stores, beginning of the period 17 13 Stores opened during the period 2 2 Stores transferred/sold to the Company — 2 Stores closed during the period — — Corporate owned stores, end of the period 19 17
COVID-19	COVID-19 On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus originating in Wuhan, China (the “COVID-19 COVID-19 COVID-19 stay-at-home dine-in take-out, off-premises saw
New Accounting Standards Adopted	New Accounting Standards Adopted In December 2019, the 2019-12,
New Accounting Pronouncements	New Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, o The FASB issued ASU 2016-13, Financial
Net Loss per Common Share	Net Loss per Common Share Net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. As a result, diluted loss per common share is the same as basic loss per common share for the three months ended March 31, 2021. The Company has considered the effect of (1) warrants outstanding to purchase 15,095,000 shares of common stock (2) The historical partnership equity structure of BurgerFi did not include outstanding member units and as such, earnings per share information is omitted for the Predecessor periods.
Reconciliation of Net Loss per Common Share	Reconciliation of Net Loss per Common Share Basic and diluted loss per common share is calculated as follows (in thousands, except per share data): Three Months Net loss attributable to common shareholders $ (8,210 ) Weighted average common shares outstanding, basic and dilu te d 17,814,336 Basic and diluted net loss per common share $ (0.46 ) Excluded from the weighted average common shares outstanding amount are warrants of 3,004,030 and UPOs of 37,687

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Store Activity	Store activity for the periods ended March 31, 2021 and 2020 is as follows: Three Months Ended Year Ended Franchised stores, beginning of the period 102 117 Stores opened during the period 2 9 Stores transferred/sold to the Company — (2 ) Stores closed during the period (6 ) (22 ) Franchised stores, end of the period 98 102 Three Months Ended Year Ended Corporate owned stores, beginning of the period 17 13 Stores opened during the period 2 2 Stores transferred/sold to the Company — 2 Stores closed during the period — — Corporate owned stores, end of the period 19 17
Schedule of reconciliation of net loss per common share	Basic and diluted loss per common share is calculated as follows (in thousands, except per share data): Three Months Net loss attributable to common shareholders $ (8,210 ) Weighted average common shares outstanding, basic and dilu te d 17,814,336 Basic and diluted net loss per common share $ (0.46 )

Restricted Cash (Tables)

Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2021
Restricted Cash Disclosure [Abstract]
Summary of Restricted Cash	Restricted cash consisted of the following as of (in thousands): March 31, December 31, PPP amount held in escrow $ 2,124 $ 2,237 Cash proceeds from Business Combination held back for working capital adjustment — 996 Total Restricted Cash $ 2,124 $ 3,233

Property & Equipment (Tables)

Property & Equipment (Tables)	3 Months Ended
	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment, net consisted of the following (in thousands): March 31, 2021 December 31 Leasehold improvements $ 6,651 $ 5,477 Machinery & equipment 1,727 1,548 Computer equipment 318 208 Furniture & fixtures 893 792 Vehicles 27 27 9,616 8,052 Less: Accumulated depreciation (353 ) (48 ) Property and equipment – net $ 9,263 $ 8,004

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary Of Components Of Intangible Assets	The following is a summary of the components of intangible assets and the related a c March 31, 2021 December 31, 2020 Intangible Assets (in thousands) Amount Accumulated Net Amount Accumulated Net Franchise agreements $ 24,839 $ 1,032 $ 23,807 $ 24,839 $ 147 $ 24,692 Trade names / trademarks 83,055 801 82,254 83,033 115 82,918 Liquor license 235 — 235 235 — 235 Reef Kitchens license agreement 8,882 258 8,624 8,882 37 8,845 VegeFi product 135 4 131 135 1 134 $ 117,146 $ 2,095 $ 115,051 $ 117,124 $ 300 $ 116,824
Summary of Components of Related Amortization Expense	The estimated aggregate amortization expense for intangible assets over the next five years ending December 31 and thereafter is as follows: ( in thousands ) Remainder of 2021 $ 5,423 2022 7,218 2023 7,218 2024 7,218 2025 7,218 2026 and thereafter 80,521 Total $ 114,816

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Schedule of Goodwill	The following table represents changes to goodwill and the initial purchase price allocation as of March 31, 2021: (in thousands) Goodwill as of December 31, 2020 $ 119,542 Adjustments 413 Goodwill as of March 31, 2021 $ 119,955

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Other Assets [Abstract]
Summary of Other Assets	Other assets consisted of the following (in thousands): March 31, 2021 December 31, 2020 Lease Acquisition Costs, net of accumulated amortization $ 10 $ 18 Deposits and other non-current 248 233 Other assets $ 258 $ 251

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments on Operating Leases	Approximate future minimum payments on these operating leases as of March 31, 2021 are as follows (in thousands): Remainder of 2021 $ 2,523 2022 3,958 2023 3,999 2024 3,677 2025 3,701 2026 and thereafter 29,477

Notes Payable (Tables)

Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Payable [Abstract]
Summary of Notes Payable	Notes Payable (in thousands) March 31, December 31, Paycheck Protection Program (“PPP”) $ 2,125 $ 2,237 Installment note payable 543 555 Other notes payable No recourse to the general credit of the Company 168 168 Total notes payable 2,836 2,960 Less: current portion (1,203 ) (1,438 ) Total notes payable - long $ 1,633 $ 1,522

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Summary of Analysis of Changes in Warrant Liability	The following is an analysis of changes in the warrant liability for the three months ended March 31, 2021: (in thousands) Level 3 (Black Liability at December 31, 2020 $ 16,516 Loss during the three months ended March 31, 2021 4,946 Liability at March 31, 2021 $ 21,462
Summary of Input Variables	The input variables for the Black Scholes are noted in the table below: 2021 2020 Risk-free interest rate 0.84 % 0.36 % Expected life in years 4.72 5 Expected volatility 30.0 % 30.0 % Expected dividend yield 0 % 0 %

Share-based Compensation (Table

Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Input Variables	The input variables for the Black Scholes are noted in the table below: 2021 2020 Risk-free interest rate 0.84 % 0.36 % Expected life in years 4.72 5 Expected volatility 30.0 % 30.0 % Expected dividend yield 0 % 0 %
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Activity of Restricted Shares	The following table summarizes activity of Restricted Stock Units during the three months ended March 31, 2021: Number of Restricted Stock Weighted Average Grant Date Fair Value Non-vested 1,250,000 $ 15.28 Granted 1,105,700 14.62 Vested — — Forfeited — — Non-vested 2,355,700 $ 14.97
Service Condition Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Activity of Restricted Shares	The following table summarizes activity of the restricted stock units by vesting condition during the three months ended March 31, 2021: Performance Condition Service Condition Market Condition Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Non-vested 950,000 $ 15.70 200,000 $ 15.70 100,000 $ 10.45 Granted 713,700 16.15 52,000 16.15 340,000 11.17 Vested — — — — — — Forfeited — — — — — — Non-vested 1,663,700 $ 15.89 252,000 $ 15.79 440,000 $ 11.01
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Input Variables	The input variables are noted in the table below: 2021 2020 Risk-free interest rate 0.54 % 0.18 % Expected life in years 4 3 Expected volatility 63.3 % 65.9 % Expected dividend yield (a) 0 % 0 % (a) The Monte Carlo method assumes a reinvestment of dividends.

Basis of Presentation - Summary

Basis of Presentation - Summary of Store activity (Details) - Stores	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Franchised Stores [Member]
Schedule of Store Activity [Line Items]
Stores, beginning of the period	102	117
Stores opened during the period	2	9
Stores transferred/sold to the Company		(2)
Stores closed during the period	(6)	(22)
Stores, end of the period	98	102
Corporate Owned Stores [Member]
Schedule of Store Activity [Line Items]
Stores, beginning of the period	17	13
Stores opened during the period	2	2
Stores transferred/sold to the Company		2
Stores, end of the period	19	17

Basis of Presentation - Schedul

Basis of Presentation - Schedule of reconciliation of net loss per common share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accounting Policies [Abstract]
Net loss attributable to common shareholders	$ (8,210)	$ 772
Weighted average common shares outstanding, basic and diluted	17,814,336
Basic and diluted net loss per common share	$ (0.46)

Basis of Presentation - (Detail

Basis of Presentation - (Details)	3 Months Ended
	Mar. 31, 2021shares
Number of UPO units exchanged	3,004,030
Number of shares in exchange for UPO units	37,687
Warrant [Member]
Antidilutive securities excluded from computation of earnings per share	75,000
Common Stock [Member]
Antidilutive securities excluded from computation of earnings per share	15,095,000
Common Stock [Member] | Over-Allotment Option [Member]
Antidilutive securities excluded from computation of earnings per share	75,000
Restricted Stock [Member]
Antidilutive securities excluded from computation of earnings per share	2,355,700

Restricted Cash - Summary of Re

Restricted Cash - Summary of Restricted cash (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Restricted Cash Disclosure [Line Items]
Restricted Cash	$ 2,124	$ 3,233
PPP amount held in escrow
Restricted Cash Disclosure [Line Items]
Restricted Cash	2,124	2,237
Cash proceeds from merger held back for working capital adjustment
Restricted Cash Disclosure [Line Items]
Restricted Cash	$ 0	$ 996

Property & Equipment - Summary

Property & Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
PropertyPlantAndEquipmentGross	$ 9,616	$ 8,052
Less: Accumulated depreciation	(353)	(48)
Property and equipment – net	9,263	8,004
Leasehold improvements
Property, Plant and Equipment [Line Items]
PropertyPlantAndEquipmentGross	6,651	5,477
Machinery & equipment
Property, Plant and Equipment [Line Items]
PropertyPlantAndEquipmentGross	1,727	1,548
Computer equipment
Property, Plant and Equipment [Line Items]
PropertyPlantAndEquipmentGross	318	208
Furniture & fixtures
Property, Plant and Equipment [Line Items]
PropertyPlantAndEquipmentGross	893	792
Vehicles
Property, Plant and Equipment [Line Items]
PropertyPlantAndEquipmentGross	$ 27	$ 27

Property & Equipment (Details)

Property & Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 305,000	$ 237,000
Leasehold improvements	$ 1,025,000		$ 103,000

Intangible Assets - Summary of

Intangible Assets - Summary of Components of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Finite Lived Intangible Assets [Line Items]
Amount	$ 117,146	$ 117,124
Accumulated Amortization	2,095	300
Net Carrying Value	115,051	116,824
Franchise Rights [Member]
Finite Lived Intangible Assets [Line Items]
Amount	24,839	24,839
Accumulated Amortization	1,032	147
Net Carrying Value	23,807	24,692
Trademarks and Trade Names [Member]
Finite Lived Intangible Assets [Line Items]
Amount	83,055	83,033
Accumulated Amortization	801	115
Net Carrying Value	82,254	82,918
Liquor License [Member]
Finite Lived Intangible Assets [Line Items]
Amount	235	235
Net Carrying Value	235	235
Reef Kitchens License Agreement [Member]
Finite Lived Intangible Assets [Line Items]
Amount	8,882	8,882
Accumulated Amortization	258	37
Net Carrying Value	8,624	8,845
Vege Fi Product [Member]
Finite Lived Intangible Assets [Line Items]
Amount	135	135
Accumulated Amortization	4	1
Net Carrying Value	$ 131	$ 134

Intangible Assets - Summary o_2

Intangible Assets - Summary of Components of Related Amortization Expense (Details) $ in Thousands	Mar. 31, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2021	$ 5,423
2022	7,218
2023	7,218
2024	7,218
2025	7,218
2026 and thereafter	80,521
Total	$ 114,816

Intangible Assets (Details)

Intangible Assets (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of Intangible Assets	$ 0	$ 0
Amortization expense	$ 1,800,000	$ 0

Business Combinations - Schedul

Business Combinations - Schedule of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Business Combination, Goodwill [Abstract]
Goodwill as of December 31, 2020	$ 119,542
Adjustments	413
Goodwill as of March 31, 2021	$ 119,955

Business Combinations (Details)

Business Combinations (Details) - USD ($)	Dec. 16, 2020	Mar. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Issuance of common stock		17,830,507	17,541,838
BurgerFi Holdings LLC [Member]
Business Acquisition [Line Items]
Total consideration	$ 236,900,000
Cash payment	30,000,000
Shares issued to acquire business	$ 103,680,000
Issuance of common stock	6,603,773
Contingent consideration	$ 103,207,000

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Variable Interest Entity [Line Items]
Net income (loss)	$ (8,210,000)	$ 772,000
Variable Interest Entity [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Maximum Loss Exposure, Amount	$ 5,949,000
Revenue from Contract with Customer, Excluding Assessed Tax		912,000
Net income (loss)		$ 25,000,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Jan. 01, 2020
Amounts due from related parties repayment period, description	not expected to be repaid within one year
Due from related companies	$ 97,000		$ 74,000
Due to related companies	0		$ 0
Lease term				36 months
Rent expense	56,000	$ 40,000
Royalty [Member]
Royalty revenue received from franchisees	$ 100,000	$ 112,000

Other Assets - Summary of Other

Other Assets - Summary of Other Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Other Assets [Abstract]
Lease Acquisition Costs, net of accumulated amortization	$ 10	$ 18
Deposits and other non-current assets	248	233
Other assets	$ 258	$ 251

Commitments and Contingencies_2

Commitments and Contingencies (Details)	1 Months Ended	3 Months Ended		4 Months Ended
	Feb. 29, 2020USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Apr. 30, 2020USD ($)Deposits	Dec. 31, 2020USD ($)
Commitments And Contingencies [Line Items]
Operating leases, rent expense		$ 841,000	$ 598,000
Asset held for sale		732,000			$ 732,000
Contingent liability		0
Franchise Agreement Case [Member]
Commitments And Contingencies [Line Items]
Loss contingency damage sought value		$ 5,000,000
Loss contingency, lawsuit filing date		April 2016
Employment Agreement Breach Case [Member]
Commitments And Contingencies [Line Items]
Loss contingency, lawsuit filing date		December 1, 2019
Loss contingency motion to dismiss lawsuit filing date		February 13, 2020
Employee Termination Case [Member]
Commitments And Contingencies [Line Items]
Loss contingency, lawsuit filing date		July 8, 2020
Loss contingency, allegations		the former employee was terminated wrongfully by the Company
BF Dania Beach, LLC [Member]
Commitments And Contingencies [Line Items]
Aggregate purchase price	$ 1,299,000
Number of cash deposits | Deposits				3
Cash deposits received				$ 906,500
Cash deposits returned to unrelated third-party purchaser				$ 906,500
Asset held for sale		$ 732,000			$ 732,000

Commitments and Contingencies -

Commitments and Contingencies - Summary of Future Minimum Payments of Operating Leases (Details) $ in Thousands	Mar. 31, 2021USD ($)
Schedule Of Future Minimum Rental Payments For Operating Leases [Line Items]
Remainder of 2021	$ 2,523
2022	3,958
2023	3,999
2024	3,677
2025	3,701
2026 and thereafter	$ 29,477

Line of Credit (Details)

Line of Credit (Details) - USD ($)	1 Months Ended	3 Months Ended
	Jan. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Line of Credit Facility [Line Items]
Floating interest rate percentage		0.75%
Line of credit facility paid	$ 3,012,000
Revolving Line of Credit Agreement [Member]
Line of Credit Facility [Line Items]
Line of credit		$ 5,000,000	$ 3,012,000
Line of credit maturity date		Jul. 13, 2021
LIBOR [Member]
Line of Credit Facility [Line Items]
Description of annual interest rate		LIBOR Daily Floating

Notes Payable - Summary of Note

Notes Payable - Summary of Notes Payable (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total notes payable	$ 2,836	$ 2,960
Less: current portion	(1,203)	(1,438)
Notes Payable	1,633	1,522
Note Payable to Bank [Member]
Debt Instrument [Line Items]
Total notes payable	543	555
Note Payable to Bank [Member] | Paycheck Protection Program [Member]
Debt Instrument [Line Items]
Total notes payable	2,125	2,237
Other Notes Payable [Member]
Debt Instrument [Line Items]
Other notes payable No recourse to the general credit of the company.	$ 168	$ 168

Notes Payable (Details)

Notes Payable (Details) - Notes Payable to Banks [Member] - USD ($) $ in Thousands	May 11, 2020	Mar. 31, 2021
Schedule Of Notes Payable [Line Items]
Debt instrument forgiveness		$ 114
7% Notes Payable Due June 1, 2024 [Member]
Schedule Of Notes Payable [Line Items]
Interest rate on note payable to bank		7.00%
Note payable to bank		$ 9
Note payable to bank, maturity date		Jun. 1, 2024
Paycheck Protection Program [Member]
Schedule Of Notes Payable [Line Items]
Loan proceeds received	$ 2,237
Interest rate on note payable to bank	1.00%

Supplemental Disclosure Of Non

Supplemental Disclosure Of Non Cash Activities - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Noncash or Part Noncash Acquisitions [Line Items]
Goodwill adjustments	$ 413
Forgiveness of PPP loans	$ 114

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Business Combination, Separately Recognized Transactions [Line Items]
Effective income tax reconciliation, U.S. federal statutory rate	21.00%
Effective income tax reconciliation, state income taxes at a blended statutory rate	3.80%
Effective income tax reconciliation, annual effective income tax rate	0.00%
Valuation allowances	$ 1,200		$ 700
Income tax expense	$ 700
Effective income tax reconciliation, effective tax rate	9.50%
Effective income tax reconciliation, state taxes rate	21.00%
Income tax	$ 713
Limited Liability Company LLC Or Limited Partnership LP Predecessor Entity To Business Combination [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Income tax		$ 0

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Input Variables (Details) - Derivative Warrant Liability [Member]	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
STOCKHOLDERS' EQUITY (Details) [Line Items]
Risk-free interest rate	0.84%	0.36%
Expected life in years	4 years 8 months 19 days	5 years
Expected volatility	30.00%	30.00%
Expected dividend yield	0.00%	0.00%

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Analysis of Changes in Warrant Liability (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrant liability, Beginning balance	$ 16,516
Loss during the three months ended March 31, 2021	4,946
Warrant liability, Ending balance	21,462
Level 3 Black Scholes [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrant liability, Beginning balance	16,516
Loss during the three months ended March 31, 2021	4,946
Warrant liability, Ending balance	$ 21,462

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2021	Mar. 31, 2021	Dec. 31, 2020
Stockholders Equity Details [Line Items]
Common stock, authorized		100,000,000	100,000,000
Common stock, par value (in Dollars per share)		$ 0.0001	$ 0.0001
Common stock, Shares outstanding		17,830,507	17,541,838
Preferred stock, par value (in Dollars per share)		$ 0.0001
Preferred stock, authorized		10,000,000
Preferred stock, issued		0	0
Preferred stock, outstanding		0	0
Common stock, voting rights		Holders of the Company’s common stock are entitled to one vote for each share
Warrants outstanding		15,095,000	0
Warrants exercise price		$ 11.50
UPO units that are exercisable		75,000
Number of Shares that warrants exercisable for		1
Number of UPO units exchanged	675,000
Number of shares in exchange for UPO units	283,669
Derivative warrant liability		$ 21,462	$ 16,516
Change in fair value of warrant liability		$ 4,946
Share Price (in Dollars per share)		$ 15.41	$ 13.69
UPO Units Exercise Price One [Member]
Stockholders Equity Details [Line Items]
UPO units exercise price		10
Number of Shares that UPO units are exercisable for		1
Public Warrants [Member]
Stockholders Equity Details [Line Items]
Warrants outstanding		11,500,000
Warrants and Rights Outstanding, Maturity Date		Dec. 31, 2025
Private Placement Warrants [Member]
Stockholders Equity Details [Line Items]
Warrants outstanding		3,000,000
Private Warrants [Member]
Stockholders Equity Details [Line Items]
Warrants outstanding		445,000
Warrants exercise price		$ 5.97	$ 4.60
Working Capital Warrants [Member]
Stockholders Equity Details [Line Items]
Warrants outstanding		150,000

Share-based Compensation - Summ

Share-based Compensation - Summary of Input Variables (Detail) - Performance Shares [Member]		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate		0.54%	0.18%
Expected life in years		4 years	3 years
Expected volatility		63.30%	65.90%
Expected dividend yield	[1]	0.00%	0.00%
[1]	The Monte Carlo method assumes a reinvestment of dividends.

Share-based Compensation - Su_2

Share-based Compensation - Summary of Activity of Restricted Shares (Detail)	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Restricted Shares, Opening balance | shares	1,250,000
Number of Restricted Shares, Granted | shares	1,105,700
Number of Restricted Shares, Ending balance | shares	2,355,700
Weighted Average Grant Date Fair Value, Opening balance | $ / shares	$ 15.28
Weighted Average Grant Date Fair Value, Granted | $ / shares	14.62
Weighted Average Grant Date Fair Value, Ending balance | $ / shares	$ 14.97
Performance Condition Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Restricted Shares, Granted | shares	713,700
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 16.15
Shares, Non-vested Opening balance | shares	950,000
Shares, Non-vested Ending balance | shares	1,663,700
Weighted Average Grant Date Fair Value, Non-vested Opening balance | $ / shares	$ 15.70
Weighted Average Grant Date Fair Value, Vested | $ / shares	$ 15.89
Service Condition Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Non-vested Opening balance | shares	200,000
Shares, Granted | shares	52,000
Shares, Non-vested Ending balance | shares	252,000
Weighted Average Grant Date Fair Value, Non-vested Opening balance | $ / shares	$ 15.70
Weighted Average Grant Date Fair Value, Vested | $ / shares	15.79
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 16.15
Market Condition Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Non-vested Opening balance | shares	100,000
Shares, Granted | shares	340,000
Shares, Non-vested Ending balance | shares	440,000
Weighted Average Grant Date Fair Value, Non-vested Opening balance | $ / shares	$ 10.45
Weighted Average Grant Date Fair Value, Vested | $ / shares	11.01
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 11.17

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2021USD ($)$ / shares
Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of shares vested	$ 522,000
Unrecognized compensation cost	$ 34,700,000
Restricted Shares [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense, weighted-average recognition period	5 years
Restricted Shares [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense, weighted-average recognition period	4 years
Market Condition Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense, weighted-average recognition period	2 years 10 months 24 days
Unrecognized compensation cost	$ 4,500,000
Share-based compensation expense	$ 248,000
Share-based compensation fair value per share | $ / shares	$ 11.04
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 0