BurgerFi International (BFICQ) 10-Q 17 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jul. 03, 2023	Aug. 11, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 03, 2023
Document Transition Report	false
Entity File Number	001-38417
Entity Registrant Name	BurgerFi International, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-2418815
Entity Address, Address Line One	200 West Cypress Creek Rd.,
Entity Address, Address Line Two	Suite 220
Entity Address, City or Town	Fort Lauderdale
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33309
City Area Code	954
Local Phone Number	618-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		26,800,100
Entity Central Index Key	0001723580
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Current Fiscal Year End Date	--01-01
Common Stock, par value $0.0001 per share
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	BFI
Security Exchange Name	NASDAQ
Redeemable warrants, each exercisable for one share of common stock at an exercise price of $11.50 per share
Document Information [Line Items]
Title of 12(b) Security	Redeemable warrants, each exercisable for one share of common stock at an exercise price of $11.50 per share
Trading Symbol	BFIIW
Security Exchange Name	NASDAQ

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 03, 2023	Jan. 02, 2023
Current Assets
Cash	$ 10,711	$ 11,917
Accounts receivable, net	1,457	1,926
Inventory	1,438	1,320
Assets held for sale	1,527	732
Prepaid expenses and other current assets	1,525	2,564
Total Current Assets	16,658	18,459
Property & equipment, net	18,247	19,371
Operating right-of-use assets, net	45,565	45,741
Goodwill	31,621	31,621
Intangible assets, net	155,213	160,208
Other assets	971	1,380
Total Assets	268,275	276,780
Current Liabilities
Accounts payable - trade and other	7,723	8,464
Accrued expenses	8,381	10,589
Short-term operating lease liability	12,274	9,924
Short-term borrowings, including finance leases	3,485	4,985
Other current liabilities	2,842	6,241
Total Current Liabilities	34,705	40,203
Non-Current Liabilities
Long-term borrowings, including finance leases	49,786	53,794
Redeemable preferred stock, $0.0001 par value, 10,000,000 shares authorized, 2,120,000 shares issued and outstanding as of July 3, 2023 and January 2, 2023, $53 million principal redemption value, respectively	53,482	51,418
Long-term operating lease liability	40,889	40,748
Related party note payable	14,412	9,235
Deferred income taxes	1,223	1,223
Other non-current liabilities	1,330	1,212
Total Liabilities	195,827	197,833
Commitments and Contingencies - Note 8
Common stock, shares issued (in shares)	26,724,218	22,257,772
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Stockholders' Equity
Common stock, $ 0.0001 par value, 100,000,000 shares authorized, 26,724,218, and 22,257,772 shares issued and outstanding as of July 3, 2023 and January 2, 2023, respectively	$ 2	$ 2
Additional paid-in capital	314,749	306,096
Accumulated deficit	(242,303)	(227,151)
Total Stockholders' Equity	72,448	78,947
Total Liabilities and Stockholders' Equity	$ 268,275	$ 276,780

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jul. 03, 2023	Jan. 02, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	2,120,000	2,120,000
Preferred stock, shares outstanding (in shares)	2,120,000	2,120,000
Preferred stock, redemption value	$ 53	$ 53
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	26,724,218	22,257,772
Common stock, shares outstanding (in shares)	26,724,218	22,257,772

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2023	Jun. 30, 2022	Jul. 03, 2023	Jun. 30, 2022
Revenue
Restaurant sales	$ 40,808	$ 42,236	$ 84,124	$ 84,592
Total Revenue	43,427	45,298	89,154	90,228
Restaurant level operating expenses:
Food, beverage and paper costs	10,772	12,545	22,382	25,352
Labor and related expenses	12,699	12,328	25,916	24,910
Other operating expenses	7,760	7,421	15,216	14,613
Occupancy and related expenses	3,930	3,890	7,763	7,725
General and administrative expenses	5,812	7,406	12,388	13,432
Depreciation and amortization expense	3,295	4,730	6,522	9,174
Share-based compensation expense	556	909	5,230	8,285
Brand development, co-op and advertising expenses	933	1,126	2,029	1,839
Goodwill and intangible asset impairment	0	55,168	0	55,168
Restructuring costs and other charges, net	1,135	52	2,174	1,040
Total Operating Expenses	46,892	105,575	99,620	161,538
Operating Loss	(3,465)	(60,277)	(10,466)	(71,310)
Interest expense, net	(2,211)	(2,246)	(4,289)	(4,318)
(Loss) gain on change in value of warrant liability	(318)	1,858	(391)	1,324
Other loss	(5)	(47)		(80)
Loss before income taxes	(5,999)	(60,712)	(15,151)	(74,384)
Income tax (expense) benefit	(2)	335	(2)	447
Net loss	$ (6,001)	$ (60,377)	$ (15,153)	$ (73,937)
Weighted average common shares outstanding:
Basic (in shares)	24,891,449	22,214,628	24,216,199	22,089,799
Diluted (in shares)	24,891,449	22,214,628	24,216,199	22,089,799
Net loss per common share:
Basic (in USD per share)	$ (0.24)	$ (2.72)	$ (0.63)	$ (3.35)
Diluted (in USD per share)	$ (0.24)	$ (2.72)	$ (0.63)	$ (3.35)
Accumulated Deficit
Restaurant level operating expenses:
Other loss			$ (5)
Net loss		$ (60,377)	(15,153)	$ (73,937)
Royalty and other fees
Revenue
Revenues	$ 2,190	2,611	4,160	4,714
Royalty - brand development and co-op
Revenue
Revenues	$ 429	$ 451	$ 870	$ 922

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands		Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Balance at beginning of period (in shares) at Dec. 31, 2021			21,303,500
Balance at beginning of period at Dec. 31, 2021		$ 173,275	$ 2	$ 296,992	$ (123,719)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation		4,475		4,475
Vested shares issued (in shares)			965,676
Vested shares issued		3,810		3,810
Stock issued in acquisition of Anthony's (in shares)	[1]		123,131
Shares withheld for taxes (in shares)			(139,075)
Shares withheld for taxes		(1,086)
Net loss		(73,937)			(73,937)
Balance at end of period (in shares) at Jun. 30, 2022			22,253,232
Balance at end of period at Jun. 30, 2022		106,537	$ 2	304,191	(197,656)
Balance at beginning of period (in shares) at Mar. 31, 2022			22,042,583
Balance at beginning of period at Mar. 31, 2022		166,106	$ 2	303,383	(137,279)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation		909		909
Vested shares issued (in shares)			238,514
Shares withheld for taxes (in shares)			(27,865)
Shares withheld for taxes		(101)		(101)
Net loss		(60,377)			(60,377)
Balance at end of period (in shares) at Jun. 30, 2022			22,253,232
Balance at end of period at Jun. 30, 2022		106,537	$ 2	304,191	(197,656)
Balance at beginning of period at Jan. 02, 2023		78,947	$ 2	306,096	(227,151)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation		$ 5,230		5,230
Shares issued in private placement (in shares)		2,868,853
Shares issued in private placement		$ 3,436		3,436
Vested shares issued (in shares)			1,681,057
Shares issued in legal settlement (in shares)			200,000
Shares issued in legal settlement		352		352
Shares withheld for taxes (in shares)			(283,464)
Shares withheld for taxes		(365)		(365)
Net loss		(15,153)			(15,153)
Balance at end of period (in shares) at Jul. 03, 2023			26,724,218
Balance at end of period at Jul. 03, 2023		72,448	$ 2	314,749	(242,303)
Balance at beginning of period (in shares) at Apr. 03, 2023			23,823,105
Balance at beginning of period at Apr. 03, 2023		74,468	$ 2	310,768	(236,302)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation		556		556
Shares issued in private placement (in shares)			2,868,853
Shares issued in private placement		3,436		3,436
Vested shares issued (in shares)			41,883
Shares withheld for taxes (in shares)			(9,623)
Shares withheld for taxes		(11)		(11)
Net loss		(6,001)
Balance at end of period (in shares) at Jul. 03, 2023			26,724,218
Balance at end of period at Jul. 03, 2023		$ 72,448	$ 2	$ 314,749	$ (242,303)
[1]*Timing of share issuance differs from recognition of related financial statement dollar amounts.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 03, 2023	Jun. 30, 2022
Cash Flows (Used in) Provided by Operating Activities
Net loss	$ (15,153)	$ (73,937)
Adjustments to reconcile net loss income to net cash (used in) provided by operating activities
Goodwill impairment	0	55,168
Depreciation and amortization expense	6,522	9,174
Share-based compensation	5,230	8,285
Loss on legal settlement	131	0
Forfeited franchise deposits	(374)	(433)
Non-cash lease cost	(36)	112
Loss during the period	391	(1,324)
(Gain) loss on disposal of property and equipment	(10)	385
Deferred income taxes	0	(447)
Other non-cash interest	2,378	2,290
Other, net	108	32
Changes in operating assets and liabilities
Accounts receivable	480	270
Inventory	(97)	35
Prepaid expenses and other assets	1,410	225
Accounts payable - trade	(784)	2,120
Accrued expenses and other current liabilities	(2,924)	1,895
Other long-term liabilities	112	38
Cash Flows (Used in) Provided by Operating Activities	(2,616)	3,888
Net Cash Flows Provided By Investing Activities
Purchases of property and equipment	(1,046)	(1,056)
Proceeds from the sale of property and equipment	26	1,025
Net Cash Flows Used in Investing Activities	(1,020)	(31)
Net Cash Flows Used in Financing Activities
Proceeds from issuance of common stock	3,436	0
Payments on borrowings	(5,662)	(1,667)
Proceeds from related party note payable	5,100	0
Tax payments for restricted stock upon vesting	(368)	(1,086)
Debt issuance costs	0	(164)
Repayments of finance leases	(76)	(82)
Net Cash Flows Provided by (Used in) Financing Activities	2,430	(2,999)
Net (Decrease) Increase in Cash and Cash Equivalents	(1,206)	858
Cash and Cash Equivalents, beginning of period	11,917	14,889
Cash and Cash Equivalents, end of period	10,711	15,747
Supplemental cash flow disclosures:
Cash paid for interest	1,664	1,454
Fair value of net liabilities assumed in legal settlement	(79)	0
Fair value of common stock issued in legal settlement	(352)	0
ROU assets obtained in the exchange for lease liabilities:
Operating leases	$ 4,677	$ 0

Organization

Organization	6 Months Ended
	Jul. 03, 2023
Accounting Policies [Abstract]
Organization	Organization BurgerFi International, Inc. and its wholly owned subsidiaries ( “BurgerFi,” or the “Company,” also “we,” “us,” and “our” ), is a multi-brand restaurant company that develops, markets and acquires fast-casual and premium-casual dining restaurant concepts around the world, including corporate-owned stores and franchises located in the United States, Puerto Rico and Saudi Arabia. As of July 3, 2023, the Company had 174 franchised and corporate-owned restaurants of the two following brands: BurgerFi . BurgerFi is a fast-casual “better burger” concept with 114 franchised and corporate-owned restaurants as of July 3, 2023, offering burgers, hot dogs, crispy chicken, hand-cut fries, frozen custard shakes, beer, wine and more. Anthony’s . Anthony’s is a pizza and wing brand that operated 60 corporate-owned casual restaurant locations, as of July 3, 2023. The concept is centered around a coal-fired oven, and its menu offers “well-done” pizza, coal-fired chicken wings, homemade meatballs, and a variety of handcrafted sandwiches and salads. Corporate-owned stores and Franchised stores Store activity for the six months ended July 3, 2023 and the year ended January 2, 2023 is as follows: July 3, 2023 January 2, 2023 Corporate-owned Franchised Total Corporate-owned Franchised Total Total BurgerFi and Anthony's 87 87 174 85 89 174 BurgerFi stores, beginning of the period 25 89 114 25 93 118 BurgerFi stores opened — 5 5 3 8 11 BurgerFi stores acquired / (transferred) 2 (2) — (3) 3 — BurgerFi stores closed — (5) (5) — (15) (15) BurgerFi total stores, end of the period 27 87 114 25 89 114 Anthony's stores, beginning of period 60 — 60 61 — 61 Anthony's stores opened — — — — — — Anthony's stores closed — — — (1) — (1) Anthony's total stores, end of the period 60 — 60 60 — 60 Store totals included two international stores at July 3, 2023 and one international store at January 2, 2023. Subsequent to July 3, 2023, the Company closed one Burgerfi and one Anthony’s store.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jul. 03, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation These consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) assuming the Company will continue as a going concern. The going concern assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. However, as discussed below and elsewhere through the Quarterly Report on Form 10-Q, substantial doubt about the Company’s ability to continue as a going concern exists. Please see Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations, as well as Risk Factors in the Company’s Annual Report on Form 10-K for the year ended January 2, 2023 (the “ 2022 Form 10-K ”), for further information. The Company’s credit agreement (“ Credit Agreement ”) with a syndicate of banks has approximately $52.8 million in financing outstanding as of July 3, 2023, and expires on September 30, 2025. The Credit Agreement contains numerous covenants, including those whereby the Company is required to meet certain trailing twelve-month quarterly financial ratios and a minimum liquidity requirement. The Company was in compliance with all of the covenants under the Credit Agreement as of July 3, 2023. As discussed in Note 8 “ Commitments and Contingencies ” to the consolidated financial statements included within this report, in the case of Second 82 nd SM, LLC v. BF NY 82, LLC et al. , the Court entered an order granting the Landlord’s Motion for Summary Judgment and ordered a damages hearing on the motion. As a result, unless the parties otherwise agree to a settlement prior to the damages hearing, the Company expects a judgment to be entered against it of at least approximately $1.2 million. The parties, however, continue to discuss possible settlement prior to the damages hearing, including re-opening the BurgerFi restaurant, as well as the payment, including timing, of past due rent amounts to the Landlord. In addition, the Company is considering other alternatives, including the need to refinance or restructure its debt, sell assets, or seek to raise additional capital, including debt or equity. If the Company is unable to implement one or more of these options or is otherwise unsuccessful in negotiating a settlement, which the Company believes is unlikely, and the court entered a final judgment against the Company, management believes it is possible that the Company will not be in compliance with certain of the financial covenants in its Credit Agreement, which would constitute a breach of the Credit Agreement and an event of default if not cured in accordance with its terms. Any such default would allow the lenders to call the debt sooner than its maturity date of September 30, 2025. In the event that the lenders do call the debt during the next 12 months as the result of a covenant breach, the Company is not forecasted to have the readily available funds to repay the debt, which raises substantial doubt about the Company’s ability to continue as a going concern within one year after the date the consolidated financial statements are issued. The Company has been and continues to be in communication with the Landlord to negotiate a settlement prior to the damages hearing and is also considering other capital raising options to address any potential judgment, as well as any issues related to meeting the covenant requirements over the next 12 months. Management cannot, however, predict the results of any such negotiations or actions. The consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that results from the uncertainty described above. The accompanying condensed 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 and Rule 8-03 of Regulation S-X. Pursuant to these rules and regulations, certain information and footnote disclosures normally included in the annual audited consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The accompanying condensed consolidated balance sheet as of January 3, 2023 is derived from the Company’s audited financial statements as of that date. Because certain information and footnote disclosures have been condensed or omitted, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto as of and for the year ended January 2, 2023 contained in the 2022 Form 10-K. We are required to evaluate events occurring after July 3, 2023 for recognition and disclosure in the unaudited consolidated financial statements for the quarter and six month periods ended July 3, 2023. Events are evaluated based on whether they represent information existing as of July 3, 2023, which require recognition, or new events occurring after July 3, 2023 which do not require recognition but require disclosure if the event is significant. We evaluated events occurring subsequent to July 3, 2023 through the date of issuance of these unaudited consolidated financial statements. On July 28, 2022, our Board of Directors approved the change to a 52-53-week fiscal year ending on the Monday nearest to December 31 of each year in order to improve the alignment of financial and business processes following the acquisition of Anthony’s. Our second fiscal quarter of 2023 ended on July 3, 2023. Our current fiscal year will end on January 1, 2024. As of June 30, 2022, the BurgerFi brand operated on a calendar year-end and the Anthony’s brand operated on a 52-53-week fiscal year. Differences arising from the different fiscal period-ends were not deemed material for the quarter ended June 30, 2022. Principles of Consolidation The consolidated financial statements present the consolidated financial position, results from operations and cash flows of BurgerFi International, Inc., and its wholly owned subsidiaries. All material balances and transactions between the entities have been eliminated in consolidation. Reclassifications Certain reclassifications have been made to the prior year presentation to conform to the current year 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 consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. New Accounting Pronouncements The Company reviewed all recently issued accounting pronouncements and concluded that they were not applicable or not expected to have a significant impact on the accompanying consolidated financial statements. Employer Retention Tax Credits As of July 3, 2023 and January 2, 2023, the Company had $0.1 million and $1.5 million, respectively, of receivables related to the Taxpayer Certainty and Disaster Relief Act of 2020 included in prepaid expenses and other current assets in the accompanying consolidated balance sheets. Prepaid expenses The Company routinely issues prepayments to landlords, insurers and vendors in the ordinary course of business. As of July 3, 2023 and January 2, 2023, the Company had $1.3 million and $0.9 million, respectively of prepayments included in prepaid expenses and other current assets in the accompanying consolidated balance sheets. Assets Held for Sale The Company has classified assets held for sale in the accompanying consolidated balance sheets $1.5 million as of July 3, 2023 and $0.7 million as of January 2, 2023 of certain store property and equipment, and intangible assets that the Company expects to be sold within one year. Assets held for sale are reviewed each reporting period to ensure that the fair value less cost to sell exceeds the carrying value. 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. The closing of this transaction has been delayed due to additional negotiation that has been on-going. In the event the transaction is terminated, the Company will begin operating this BurgerFi restaurant, and return the deposit of $0.9 million included in other current assets to the unrelated third-party purchaser. Assets used in the operations of BF Dania Beach, LLC totaling $0.7 million have been classified as held for sale in the accompanying consolidated balance sheets as of July 3, 2023 and January 2, 2023. In March 2023, the Company approved a plan for sale of an intangible asset of an Anthony’s location with a carrying value of $0.8 million, which is classified as held for sale in the accompanying consolidated balance sheets as of July 3, 2023. Other Current Liabilities The Company incurs liabilities associated with the sale of gift cards and gift certificates. As of July 3, 2023 and January 2, 2023, the Company had $1.0 million and $1.8 million, respectively of gift card and gift certificate liabilities included in other current liabilities on the accompanying consolidated balance sheets. The Company incurs liabilities resulting from its customer loyalty program. As of July 3, 2023 and January 2, 2023, the Company had $0.9 million and $0.8 million, respectively of liabilities for loyalty program in the accompanying consolidated balance sheets. Restructuring Costs Restructuring costs include management and employee separation, severance, and relocation costs, as well as store closure related charges. All costs are expensed as incurred, and are reflected as “Restructuring costs and other charges, net” in the accompanying consolidated statements of operations. Restructuring costs and other charges, net for the quarter and six months ended July 3, 2023 was $1.1 million and $2.2 million, respectively. For the quarter and six months ended July 3, 2023, $1.1 million, respectively, related to severance for the departure of Chief Executive Officer and Chief Financial Officer. During the six months ended July 3, 2023, $1.1 million was recorded primarily in connection with the Company’s Credit Facility requirements to raise additional capital or debt. Restructuring costs and other charges, net for the quarter and six months ended June 30, 2022 of $0.1 million and $1.0 million, respectively, related to store pre-opening costs and store closure costs.

Property & Equipment

Property & Equipment	6 Months Ended
	Jul. 03, 2023
Property, Plant and Equipment [Abstract]
Property & Equipment	Property & Equipment Property and equipment consisted of (in thousands) July 3, 2023 January 2, 2023 Leasehold improvements $ 17,623 $ 17,029 Kitchen equipment and other equipment 8,450 8,196 Computers and office equipment 1,549 1,468 Furniture and fixtures 2,870 2,677 Vehicles 6 37 30,498 29,407 Less: Accumulated depreciation and amortization (12,251) (10,036) Property and equipment – net $ 18,247 $ 19,371 Depreciation and amortization expense on property and equipment totaled $1.2 million and $2.3 million for the quarter and six months ended July 3, 2023. Depreciation and amortization expense on property and equipment totaled $2.6 million and $4.9 million for the quarter and and six months ended June 30, 2022. Depreciation and amortization expense decreased due to assets fully depreciating and impairments taken during 2022.

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	6 Months Ended
	Jul. 03, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	Goodwill and Intangible Assets, Net The following is a summary of the components of goodwill and intangible assets, net: July 3, 2023 January 2, 2023 (in thousands) Amount Accumulated Amortization Net Carrying Value Amount Accumulated Amortization Net Carrying Value Intangible assets subject to amortization: Franchise agreements $ 24,839 $ (9,019) $ 15,820 $ 24,839 $ (7,245) $ 17,594 BurgerFi trade names / trademarks 83,033 (7,035) 75,998 83,035 (5,650) 77,385 Anthony's trade names / trademarks 60,690 (3,372) 57,318 60,691 (2,360) 58,331 License agreement 1,177 (1,131) 46 1,176 (1,063) 113 VegeFi product 135 (34) 101 135 (28) 107 Subtotal $ 169,874 $ (20,591) $ 149,283 $ 169,876 $ (16,346) $ 153,530 Liquor licenses $ 5,930 $ — $ 5,930 $ 6,678 $ — $ 6,678 Total intangible assets, net $ 155,213 $ 160,208 Goodwill: BurgerFi $ — $ — Anthony's 31,621 31,621 Total $ 31,621 $ 31,621

Contract Liabilities

Contract Liabilities	6 Months Ended
	Jul. 03, 2023
Revenue from Contract with Customer [Abstract]
Contract Liabilities	Contract Liabilities A roll forward of contract liabilities included of which the current portion is included in other current liabilities and other noncurrent liabilities on our consolidated balance sheet is as follows: Six Months Ended (in thousands) July 3, 2023 June 30, 2022 Balance, beginning of period $ 1,092 $2,577 Initial/Transfer franchise fees received 203 291 Revenue recognized for stores open and transfers during period (100) (253) Revenue recognized related to franchise agreement terminations (374) (433) Other unearned revenue (recognized) received (39) — Balance, end of period $ 782 $2,182 Franchise Revenue Revenue recognized during the periods included in royalty and other fees on our consolidated statement of operations shown was as follows: Quarter Ended Six Months Ended (in thousands) July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 Franchise Fees $ 380 $ 534 $ 513 $ 686

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jul. 03, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share Net Loss per common share is computed by dividing Net Loss by the weighted average number of common shares outstanding for the period. The Company has considered the effect of (1) warrants outstanding to purchase 15,063,800 shares of common stock and (2) 75,000 shares of common stock and warrants to purchase 75,000 shares of common stock in the unit purchase option, (3) 1,724,639 shares of restricted stock units outstanding in the calculation of income per share, and (4) the impact of any dividends associated with our redeemable preferred stock. As the effect of these on the computation of net loss per common share would have been anti-dilutive, they were excluded from the weighted average number of common shares outstanding. Basic and diluted net loss per common share is calculated as follows: (in thousands, except for per share data) Quarter Ended Six Months Ended Numerator: July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 Net loss available to common stockholders - diluted $ (6,001) $ (60,377) $ (15,153) $ (73,937) Denominator: Diluted weighted-average shares outstanding 24,891,449 22,214,628 24,216,199 22,089,799 Basic and diluted net loss per common share $ (0.24) $ (2.72) $ (0.63) $ (3.35)

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jul. 03, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company is affiliated with various entities through common control and ownership. On January 23, 2023, the Company settled a claim filed by a significant stockholder. The settlement resulted in the transfer of five BurgerFi entities from the stockholder to the Company of which two were operating stores and three were entities that historically had operated stores but have since closed. The fair value of consideration paid in the settlement was $0.9 million and included $0.5 million in cash and the issuance of 200,000 shares in common stock valued at $0.4 million. The fair value of net liabilities assumed in the transaction was $0.1 million which included lease liabilities and operating assets and liabilities including property and equipment of two operating stores, net of pre-existing liabilities accrued. The accompanying consolidated balance sheets as of January 2, 2023 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. There were no amounts due from related companies as of July 3, 2023 as a result of the settlement with the significant stockholder. There was approximately $0.3 million due from related parties included in other assets in the accompanying consolidated balance sheets as of January 2, 2023. During 2022, the Company received royalty revenue from the two operating stores that were transferred on January 23, 2023 as a result of the settlement with the significant stockholder of $0.1 million for the quarter and six months ended June 30, 2022. The Company leased building space for its former corporate office from an entity under common ownership with a significant stockholder. This lease had a 36-month term, effective January 1, 2020. In January 2022, the Company exercised its right to terminate this lease effective as of July 2022. For the quarter and six months ended June 30, 2022, rent expense related to this lease was approximately $0.1 million. Pursuant to a lease amendment entered into in February 2022, the Company leases building space for its corporate office from an entity controlled by the Company's Executive Chairman of the Board. This lease has a 10-year term with an option to renew. For the quarter and six months ended July 3, 2023, and June 30, 2022, rent expense was approximately $0.1 million and $0.2 million, respectively. The Company has an independent contractor agreement with a corporation (the “Consultant” ) for which the Chief Operating Officer (the “Consultant Principal” ) of Lionheart Capital, LLC, an entity controlled by the Company’s Executive Chairman of the Board, serves as President. Pursuant to the terms of the agreements, the Consultant shall provide certain strategic advisory services to the Company in exchange for total annual cash compensation and expense reimbursements of $0.1 million, payable monthly. On January 3, 2023, the Company awarded the Consultant Principal an $0.1 million bonus in connection with the Company’s amendment and extension of its Credit Facility and granted the Consultant Principal 38,000 unrestricted shares of common stock of the Company. The Company recorded share-based compensation associated with this grant of approximately $0.1 million for the six months ended July 3, 2023. There was no expense included for the quarter ended July 3, 2023. On January 3, 2022, the Company granted the Consultant Principal 37,959, respectively, of unrestricted shares of common stock of the Company. The Company recorded share-based compensation associated with this grant of approximately $0.1 million and $0.2 million, respectively, during the quarter and and six months ended June 30, 2022 and $0.2 million for the six months ended July 3, 2023. There was no expense included for the quarter ended July 3, 2023.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 03, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation John Walker, Individually and On Behalf of all Other Similarly Situated v. BurgerFi International, Inc. et al (in the United States District Court, Southern District of Florida, Case No. 023-cv-60657). On April 6, 2023, John Walker, on behalf of himself and other similarly situated plaintiffs, filed a class action lawsuit against the Company and certain current and former executives alleging that the Company violated certain securities laws by making false and misleading statements or failed to disclose that (1) the Company had overstated the effectiveness of its acquisition and growth strategies, and (2) the Company had misrepresented the purported benefits of the Anthony’s acquisition and the post-acquisition business and financial prospects of the Company. On July 20, 2023, the court appointed John Walker and Joseph Poalino as co-lead plaintiffs in the matter. We believe that all claims are meritless and plan to vigorously defend these allegations. Management is unable to determine the likelihood of a loss or range of loss, if any, which may result from the case described above, and, therefore, no contingent liability has been recorded as of January 2, 2023 or July 3, 2023; any losses, however, may be material to the Company's financial position and results of operations. Second 82nd SM, LLC v. BF NY 82, LLC, BurgerFi International, LLC and BurgerFi International, Inc. ( in the Supreme Court of the State of New York County of New York, having index No. 654907/2021 filed August 11, 2021). A lawsuit was filed by Second 82 nd SM, LLC (“ Landlord ”) against BF NY 82, LLC (“ Tenant ”) whereby Landlord brought a seven-count lawsuit for, among other things, breach of the lease agreement and underlying guaranty of the lease. The amount of damages Landlord is seeking approximately $1.5 million, which constitutes back rent, late charges, real estate taxes, illuminated sign charges and water/sewer charges. On November 3, 2021, the Company filed a Motion to Dismiss the Complaint. On November 17, 2021, the Tenant filed an Answer to Landlord’s Complaint and a cross claim against the Company, which the Company answered on December 7, 2021. On December 22, 2021, the Company filed its Response in Opposition to Landlord’s Motion for Summary Judgment and Memo in further Support of its Motion to Dismiss. The Company turned over possession of the property in early 2023. On July 5, 2023, the Landlord filed a Motion of Summary Judgment seeking approximately $1.2 million in past due rent payments. On August 14, 2023, the Court entered an order granting the Landlord’s Motion for Summary Judgment and ordered a damages hearing on the motion, which has not yet been scheduled. As a result, unless the parties otherwise agree to a settlement prior to the damages hearing, the Company expects a judgment to be entered against it of at least approximately $1.2 million. The parties continue to discuss possible settlement, including re-occupying the location, as well as the payment, including timing, of past due rent amounts to the Landlord. In the event of any such final judgment following the damages hearing, which the Company believes would be unlikely because it intends to enter into a settlement prior to the damages hearing or, if not, plans to raise additional capital prior to any judgment, it is possible the Company would not be in compliance with its Credit Agreement covenants, which could result in an event of default and an acceleration of all outstanding debt under the Credit Agreement. See Risk Factors included in our 2022 Form 10-K for a discussion of the potential material consequences to such an event. Lion Point Capital, L.P.(“Lion Point”) v. BurgerFi International, Inc. (Supreme Court of the State of New York County of New York, Index No. 653099/2022, filed August 26, 2022 . A lawsuit filed by Lion Point against the Company, alleging that the Company failed to timely register Lion Point’s shares in violation of the registration rights agreement to which Lion Point is a party, which allegedly resulted in losses in excess of $26 million. In November 2022, as amended in February 2023, the Company filed its answer to the complaint. On April 13, 2023, Lion Point filed a Motion for Summary Judgment, and the Company responded with its reply on June 22, 2023. The Company continues to believe that all claims are meritless and plans to vigorously defend these allegations. Management is unable to determine the likelihood of a loss or range of loss, if any, which may result from the case described above, and, therefore, no contingent liability has been recorded as of January 2, 2023 or July 3, 2023; any losses, however, may be material to the Company's financial position and results of operations. Burger Guys of Dania Pointe, et. al. v. BFI, LLC (Circuit Court of the 15 th Judicial Circuit in and for Palm Beach County, Florida, Case No. 50-2021-CA -006501-XXXX-MB filed May 21, 2021). In response to a demand letter issued by BurgerFi to Gino Gargiulo, a former franchisee, demanding that Mr. Gargiulo pay the balance owed under an asset purchase agreement wherein BurgerFi sold the Dania Beach, Florida BurgerFi location to Mr. Gargiulo, Mr. Gargiulo filed suit against BurgerFi claiming, in addition to other matters, that no further monies are owed under the asset purchase agreement and alleges that the Company is responsible for one of Mr. Gargiulo’s failed franchises in Sunny Isles, Florida, losses he has allegedly sustained at his Dania Beach location, and reimbursement of expenses in connection with his marketing company. Mr. Gargiulo seeks damages in excess of $2 million in the aggregate. The parties attended mediation on January 20, 2022, which ended in an impasse. Mr. Gargiulo amended his complaint in April 2022, which, among other matters, amended the defendant parties. In October 2022, the Company filed an additional motion to dismiss the amended complaint and a motion to stay discovery. In January 2023, Mr. Gargiulo filed a third amended complaint. In March 2023, the Company filed an answer to Mr. Gargiulo’s complaint and a counterclaim against Mr. Gargiulo relating to the breach of the asset purchase agreement discussed above. The matter is scheduled for trial in the second half of 2023. We believe that all Mr. Gargiulo claims are meritless, and the Company plans to vigorously defend these allegations. Management is unable to determine the likelihood of a loss or range of loss, if any, which may result from the case described above, and, therefore, no contingent liability has been recorded as of January 2, 2023 or July 3, 2023 ; any losses, however, may be material to the Company's financial position and results of operations. All Round Food Bakery Products, Inc. v. BurgerFi International, LLC and Neri’s Bakery Products, Inc. et al (Supreme Court Westchester County, New York (Index Number 52170-2020)). In a suit filed in February 2020, the plaintiff, All Round Food Bakery Products, Inc. ( “All Round Food” ) alleges breach of contract and lost profits in excess of $1 million over the course of the supply agreement with the Company and Neri’s Bakery Products, Inc. (“ Neri’s ” and together with the Company, the “Defendants” ). The Defendants assert, among other matters, that the supply agreement amongst the parties, whereby All Round Food was warehousing BurgerFi products produced by Neri’s, was terminated when All Round Food failed to cure its material breach of the supply agreement after due notice. The parties attended several additional court ordered mediations during over the last several months to attempt to resolve the dispute, however, no resolution has been reached. We believe that all claims are meritless, and the Company plans to vigorously defend these allegations. Management is unable to determine the likelihood of a loss or range of loss, if any, which may result from the case described above, and, therefore, no contingent liability has been recorded as of January 2, 2023 or July 3, 2023; any losses, however, may be material to the Company's financial position and results of operations. Employment Related Claims . In July 2021, the Company received a demand letter from the attorney of one of its now former hourly restaurant employees. The letter alleges that the former employee was sexually harassed by one of her co-workers. The demand letter claims that the Company discriminated and retaliated against the former employee based on her gender and age and also alleged intentional infliction of emotional distress, negligent hiring, negligent training, and negligent supervision. While the Company entered into a partial settlement with the former employee in December 2022 for a de minimus cash amount relating solely to the discrimination claim, the other claims remain. While the Company believes that all claims of the above mentioned Employment Related Claims, which are covered under the Company’s insurance policies, are meritless, and it plans to defend these allegations, it is reasonably possible that the Company may ultimately be required to pay damages to the claimants, which could be up to $0.5 million or more in aggregate compensatory damages, attorneys’ fees and costs. 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. General Liability and Other Claims. The Company is subject to other legal proceedings and claims that arise during the normal course of business, including landlord disputes, slip and fall cases, and various food related matters. While it intends to vigorously defend these matters, it is reasonably possible that the Company may be required to pay substantial damages to the claimants. 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. Purchase Commitments From time to time, we enter into purchase commitments for certain food commodities in the normal course of business. As of July 3, 2023, we entered into approximately $3.2 million in unconditional purchase obligations over the next twelve months.

Leases

Leases	6 Months Ended
	Jul. 03, 2023
Leases [Abstract]
Leases	Leases The Company has entered into various lease agreements and these agreements expire on various dates through 2032 and have renewal options. The components of lease expense for the periods shown is as follows: Quarter Ended Six Months Ended (in thousands) Classification July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 Operating lease cost Occupancy and related expenses $ 3,218 $ 3,097 $ 6,463 $ 6,348 Finance lease cost: Amortization of right-of-use assets Depreciation and amortization expense 55 82 113 134 Interest on lease liabilities Interest expense 13 19 27 31 Less: Sublease income Occupancy and related expenses (47) (47) (94) (94) Total lease cost $ 3,239 $ 3,151 $ 6,509 $ 6,419 The maturity of the Company's operating and finance lease liabilities as of July 3, 2023 is as follows: (in thousands) Operating Leases Finance Leases One Year $ 12,274 $ 142 Two Years 12,154 182 Three Years 11,687 167 Four Years 9,804 158 Five Years 8,173 152 Thereafter 10,217 208 Total undiscounted lease payments 64,309 1,009 Less: present value adjustment (11,146) (158) Total net lease liabilities $ 53,163 $ 851 As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The Company gives consideration to its recent debt issuances as well as publicly available data for instruments with similar characteristics when calculating its incremental borrowing rates. A summary of lease terms and discount rates for finance and operating leases is as follows: July 3, 2023 June 30, 2022 Weighted-average remaining lease term (in years) Operating leases 5.8 6.4 Finance leases 5.9 6.6 Weighted-average discount rate Operating leases 7.1 % 6.0 % Finance leases 6.0 % 6.0 %
Leases	Leases The Company has entered into various lease agreements and these agreements expire on various dates through 2032 and have renewal options. The components of lease expense for the periods shown is as follows: Quarter Ended Six Months Ended (in thousands) Classification July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 Operating lease cost Occupancy and related expenses $ 3,218 $ 3,097 $ 6,463 $ 6,348 Finance lease cost: Amortization of right-of-use assets Depreciation and amortization expense 55 82 113 134 Interest on lease liabilities Interest expense 13 19 27 31 Less: Sublease income Occupancy and related expenses (47) (47) (94) (94) Total lease cost $ 3,239 $ 3,151 $ 6,509 $ 6,419 The maturity of the Company's operating and finance lease liabilities as of July 3, 2023 is as follows: (in thousands) Operating Leases Finance Leases One Year $ 12,274 $ 142 Two Years 12,154 182 Three Years 11,687 167 Four Years 9,804 158 Five Years 8,173 152 Thereafter 10,217 208 Total undiscounted lease payments 64,309 1,009 Less: present value adjustment (11,146) (158) Total net lease liabilities $ 53,163 $ 851 As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The Company gives consideration to its recent debt issuances as well as publicly available data for instruments with similar characteristics when calculating its incremental borrowing rates. A summary of lease terms and discount rates for finance and operating leases is as follows: July 3, 2023 June 30, 2022 Weighted-average remaining lease term (in years) Operating leases 5.8 6.4 Finance leases 5.9 6.6 Weighted-average discount rate Operating leases 7.1 % 6.0 % Finance leases 6.0 % 6.0 %

Debt

Debt	6 Months Ended
	Jul. 03, 2023
Debt Disclosure [Abstract]
Debt	Debt (in thousands) July 3, 2023 January 2, 2023 Term loan $ 52,880 $ 54,507 Related party note payable 15,100 10,000 Revolving line of credit — 4,000 Other notes payable 744 780 Finance lease liability 851 933 Total Debt $ 69,575 $ 70,220 Less: Unamortized debt discount to related party note (688) (765) Less: Unamortized debt issuance costs (1,204) (1,441) Total Debt, net 67,683 68,014 Less: Short-term borrowings, including finance leases (3,485) (4,985) Total Long-term borrowings, including finance leases and related party note payable $ 64,198 $ 63,029 The Company is party to a credit agreement with a syndicate of commercial banks (as amended, the “Credit Agreement” ), which provides the Company with lender financing structured as a $52.9 million term loan and a $4.0 million available under the line of credit as of July 3, 2023, with a maturity date of September 30, 2025. On February 1, 2023, the Credit Agreement was amended through the Fourteenth Amendment and subsequently on February 24, 2023 further amended through the Fifteenth Amendment resulting in the Company and its subsidiaries entering into a Secured Promissory Note (the “ Note” ) with CP7 Warming Bag L.P., an affiliate of L. Catterton Fund L.P., as lender (the “ Junior Lender ”), pursuant to which the Junior Lender continued that certain delayed draw term loan (the “Delayed Draw Term Loan”) of $10.0 million, under the Credit Agreement, which is junior subordinated secured indebtedness, and also provided $5.1 million of new junior subordinated secured indebtedness, to the Company (collectively (the “Junior Indebtedness”), for a total of $15.1 million in junior subordinated secured debt on terms reasonably acceptable to the Required Lenders (as defined in the Credit Agreement), including, without limitation, that (1) such indebtedness shall not mature until at least two (2) years after the maturity date of the credit facility of September 30, 2025 ; (2) no payments of cash interest shall be made on such indebtedness until after the repayment in full of the obligations under the Credit Agreement; and (3) no scheduled or voluntary payments of principal shall be made until after the repayment in full of the obligations under the Credit Agreement. The terms of the Credit Agreement require the Company to repay the principal of the term loan in quarterly installments with the balance due at the maturity date, as follows: in thousands 2023 $ 3,254 2024 3,254 2025 46,372 Total $ 52,880 The Credit Agreement, including the term loan and revolving line of credit, is secured by substantially all of the Company’s assets and incur interest on outstanding amounts at the following rates per annum through maturity: Time Period Interest Rate Through December 31, 2022 6.75% From January 1, 2023 through June 15 2023 6.75% From June 16, 2023 through December 31, 2023 6.75% From January 1, 2024 through June 15, 2024 7.25% From June 16, 2024 through maturity 7.75% The Delayed Draw Term Loan is a non-interest bearing loan and accordingly was recorded at fair value as part of the Anthony’s acquisition which resulted in a debt discount of approximately $1.3 million and is being amortized over the period of the Delayed Draw Term Loan. For the quarter and six months periods ended July 3, 2023, the Company recorded $0.1 million of amortization of the debt discount, which is included within interest expense in the accompanying consolidated statements of operations. The Junior Indebtedness, which accrues interest at 4% per annum (i) is secured by a second lien on substantially all of the assets of the the Company and the subsidiary guarantors (the “ Guarantors ”) pursuant to the terms and that certain Guaranty and Security Agreement, dated February 24, 2023, by and among the Guarantors and the junior lender, (ii) is subject to the terms of that certain Intercreditor and Subordination Agreement dated February 24, 2023, by and between the Administrative Agent and the junior lender and acknowledged by the borrowers and the guarantors, and (iii) matures on the date that is the second anniversary of the maturity date under the Credit Agreement (the “ Junior Maturity Date ”) (September 30, 2027, based on the maturity date under the Credit Agreement of September 30, 2025). Under the terms of the Junior Indebtedness, no payments of cash interest or payments of principal shall be due until the Junior Maturity Date, and no voluntary prepayments may be made on the Junior Indebtedness prior to the Junior Maturity Date until after the repayment in full of the obligations under the Credit Agreement. The Company had $14.4 million and $9.2 million recorded, net of unamortized discount under the Junior Indebtedness as of July 3, 2023 and January 2, 2023, respectively, included in related party note payable in the accompanying consolidated balance sheets. The amendments to the Credit Agreement and the Delayed Draw Term Loan were accounted for as modifications of debt in the Company’s accompanying consolidated financial statements. For the quarter and six months ended July 3, 2023 and June 30, 2022, interest expense consisted of: Quarter Ended Six Months Ended (in thousands) July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 Interest on credit agreement $ 1,079 $ 1,024 $ 2,130 $ 1,830 Amortization of debt issuance costs 38 110 77 292 Amortization of related party note discount 130 128 237 255 Non-cash interest on redeemable preferred stock 1,042 963 2,064 1,908 Other interest expense (income) (78) 20 (218) 33 $ 2,211 $ 2,246 $ 4,289 $ 4,318

Income Taxes

Income Taxes	6 Months Ended
	Jul. 03, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the quarter and six months ended July 3, 2023, the Company's effective income tax rate was 0.0%. The difference from the U.S. corporate statutory federal income tax rate of 21%, is primarily the result of the valuation allowance applied to reduce the Company’s deferred tax assets to the amount that is more likely than not to be realized. For the quarter and six months ended June 30, 2022, the Company's effective income tax rate was 0.6%, differing from the U.S. corporate statutory federal income tax rate of 21%, and the difference is primarily the result of the valuation allowance applied to reduce the Company’s deferred tax assets to the amount that is more likely than not to be realized. As of July 3, 2023, the Company had unrecognized tax benefits of $0.2 million.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jul. 03, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity Common Stock The Company is authorized to issue 100,000,000 shares of common stock with a par value of $0.0001 per share. Holders of the Company’s common stock are entitled to one vote for each share. At July 3, 2023 and January 2, 2023, there were 26,724,218 shares and 22,257,772 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. As of July 3, 2023 and January 2, 2023, there were 2,120,000 shares of preferred stock outstanding. On February 24, 2023, the Company filed an amended and restated certificate of designation, (the “ A&R CoD ”), which among other matters, added a provision providing that in the event the Company fails to timely redeem any shares of Series A Preferred Stock on November 3, 2027, the applicable dividend rate shall automatically increase to the lesser of (A) the sum of 10% plus the 2% applicable default rate (with such aggregate rate increasing by an additional 0.35% per quarter from and after November 3, 2027), or (B) the maximum rate that may be applied under applicable law, unless waived in writing by a majority of the outstanding shares of Series A Junior Preferred Stock. The A&R CoD also added a provision providing that in the event the Company fails to timely redeem any shares of Series A Junior Preferred Stock in connection with a Qualified Financing (as defined in the A&R CoD) on November 3, 2027 (a “ Default ”), the Company agrees to promptly commence a debt or equity financing transaction or sale process to solicit proposals for the sale of the Company and its subsidiaries (or, alternatively, the sale of material assets) designed to yield the maximum cash proceeds to the Company available for redemption of the Series A Junior Preferred Stock as promptly as practicable, but in any event, within 12 months from the date of the Default. If on or after November 3, 2026, the Company is aware that it is reasonably unlikely to have sufficient cash to timely effect the redemption in full of the Series A Junior Preferred Stock when first due, the Company shall, prior to such anticipated due date, take reasonable steps to engage an investment banking firm of national standing (and other appropriate professionals) to conduct preparatory work for such a financing transaction and sale process of the Company and its subsidiaries to provide for such transaction to occur as promptly as possible after any failure for a timely redemption of the Series A Junior Preferred Stock. The Series A Junior Preferred Stock ranks senior to the Common Stock and may be redeemed at the option of the Company at any time and must be redeemed by the Company in limited circumstances. The Series A Junior Preferred Stock shall not have voting rights or conversion rights. Warrants and Options As of July 3, 2023, the Company had the following warrants and options outstanding: 15,063,800 warrants outstanding, each exercisable for one share of common stock at an exercise price of $11.50 including 11,468,800 in public warrants, 3,000,000 in private placement warrants (“private warrants”), 445,000 in Private Warrants and 150,000 in Working Capital Warrants, 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. The public warrants expire in December 2025. Warrant Liability The Company has private 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 instrument, and as such, the warrants are accounted for as liabilities in accordance with ASC 815-40, Derivatives and Hedging , with changes in fair value included in the accompanying consolidated statements of operations. The warrant liability was $0.6 million and $0.2 million at July 3, 2023 and January 2, 2023, respectively, and is included in other non-current liabilities on the accompanying consolidated balance sheets. The loss on change in fair value of warrant liabilities for the quarter and six months ended ended July 3, 2023 was $0.3 million and $0.4 million, respectively, and is recognized in the accompanying consolidated statements of operations. The gain on change in the fair value of warrant liabilities for the quarter and six months ended June 30, 2022 was $1.9 million and $1.3 million, respectively, and is recognized in the accompanying consolidated statements of operations. The following is an analysis of changes in the warrant liability: (in thousands) Warrant liability at January 2, 2023 $ 195 Loss during the period 391 Warrant liability at July 3, 2023 $ 586 The fair value of the warrants are determined using the publicly-traded price of our common stock on the valuation dates of $1.63 on July 3, 2023 and $1.26 on January 2, 2023. See Note 13, “Fair Value Measurements .” Share-Based Compensation The Company has the ability to grant stock options, stock appreciation rights, restricted stock, restricted stock units, other share-based awards and performance compensation awards to current or prospective employees, directors, officers, consultants or advisors under the Company’s 2020 Omnibus Equity Incentive Plan (the “Plan” ). On January 5, 2023, the Company filed a Registration Statement with the SEC to register 1,112,889 additional shares of common stock, $0.0001 par value per share, of the Company under the Plan, pursuant to the “evergreen” provision of the Plan providing for an automatic increase in the number of shares reserved for issuance under the Plan. As of July 3, 2023 and January 2, 2023, there were approxim ately 150,000 and 600,000 shares of common stock available for future grants under the Plan, respectively. Restricted Stock Unit Awards The following table summarizes activity of restricted stock units during the six months ended July 3, 2023: Number of Restricted Stock Units Weighted Average Grant Date Fair Value Non-vested at January 2, 2023 1,445,600 $ 11.68 Granted 744,960 1.23 Vested (328,968) 13.84 Forfeited (161,698) 6.37 Non-vested at July 3, 2023 1,699,894 $ 7.15 Share-based compensation expense recognized during the quarter and six months ended July 3, 2023 was $0.6 million and $5.2 million, respectively. Share-based compensation expense recognized during the quarter and six months ended June 30, 2022 was approximately $0.9 million and $8.3 million, respectively. As of July 3, 2023, there was approximately $8.3 million of total unrecognized compensation cost related to unvested restricted stock units or performance-based restricted stock unit awards to be recognized over a weighted average period of 1.4 years.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 03, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair values of financial instruments are estimated using public market prices, quotes from financial institutions, and other available information. The fair values of cash equivalents, receivables, net, accounts payable and short-term debt approximate their carrying amounts due to their short duration. The following tables summarize the fair values of financial instruments measured at fair value on a recurring basis as of July 3, 2023 and January 2, 2023. Items Measured at Fair Value at July 3, 2023 (in thousands) Quoted prices in active market for identical assets (liabilities) (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Warrant liability — 586 — Total $ — $ 586 $ — Items Measured at Fair Value at January 2, 2023 (in thousands) Quoted prices in active market for identical assets (liabilities) (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Warrant liability — 195 — Total $ — $ 195 $ — In estimating our fair value disclosures for financial instruments, we use the following methods and assumptions: The fair value of the Company warrant liability is measured at fair value on a recurring basis, classified as Level 2 in the fair value hierarchy. The fair value of the private placement warrants, private warrants, and working capital warrants are determined using the publicly-traded price of its common stock on the valuation dates of $1.63 on July 3, 2023 and $1.26 on January 2, 2023. 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 calculated warrant price for private warrants was $0.16 and $0.05 on July 3, 2023 and January 2, 2023. The input variables for the Black-Scholes are noted in the table below: July 3, 2023 January 2, 2023 Risk-free interest rate 4.66 % 4.14 % Expected life in years 2.5 3.0 Expected volatility 83.0 % 68.0 % Expected dividend yield — % — % Assets and liabilities that are measured at fair value on a non-recurring basis include our long-lived assets and definite-lived intangible assets which are adjusted to fair value upon impairment. In determining fair value, we used an income-based approach. As a number of assumptions and estimates were involved that are largely unobservable, they are classified as Level 3 inputs within the fair value hierarchy. Assumptions used in these forecasts are consistent with internal planning, and include revenue growth rates, royalties, gross margins, and operating expense in relation to the current economic environment and the Company’s future expectations.

Segment Information

Segment Information	6 Months Ended
	Jul. 03, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has two operating and reportable segments: BurgerFi and Anthony's. The Company’s measure of segment income is Adjusted EBITDA. We define Adjusted EBITDA as net loss before goodwill impairment, lease termination recovery, share-based compensation expense, depreciation and amortization expense, interest expense (which includes accretion on the value of preferred stock and interest accretion on related party note), restructuring costs, merger, acquisition and integration costs, legal settlements, store closure costs, loss (gain) on change in value of warrant liability, income tax expense (benefit) and (gain) loss on sale of assets. Although the Company had historically considered net income to be an appropriate measure of segment profit and loss, management believes Adjusted EBITDA is a more meaningful measure of the Company’s performance. Adjusted EBITDA is used by the Company to evaluate its performance, both internally and as compared with its peers, because this measure excludes certain items that may not be indicative of the Company’s operating performance, as well as items that can vary widely across different industries or among companies within the same industry. The Company believes that this adjusted measure provides a baseline for analyzing trends in its underlying business. The following table presents segment revenue and a reconciliation of adjusted EBITDA to net loss by segment: Quarter Ended Consolidated BurgerFi Anthony's (in thousands) July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 Revenue by Segment $ 43,427 $ 45,298 $ 11,567 $ 13,458 $ 31,860 $ 31,840 Adjusted EBITDA Reconciliation by Segment: Net loss $ (6,001) $ (60,377) $ (5,159) $ (21,726) $ (842) $ (38,651) Goodwill impairment — 55,168 — 17,505 — 37,663 Lease termination recovery (42) — (42) — — Share-based compensation expense 556 909 529 909 27 — Depreciation and amortization expense 3,295 4,730 2,147 2,616 1,148 2,114 Interest expense 2,211 2,246 1,004 992 1,207 1,254 Restructuring costs 1,127 — 413 — 714 — Merger, acquisition and integration costs 299 1,893 234 1,846 65 47 Legal settlements 228 187 225 187 3 — Store closure costs 50 52 9 52 41 — Loss (gain) on change in value of warrant liability 318 (1,858) 318 (1,858) — — Income tax expense (benefit) 2 (335) — (341) 2 6 (Gain) loss on sale of assets (10) — (6) — (4) — Adjusted EBITDA $ 2,033 $ 2,615 $ (328) $ 182 $ 2,361 $ 2,433 Six Months Ended Consolidated BurgerFi Anthony's (in thousands) July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 Revenue by Segment $ 89,154 $ 90,228 $ 24,148 $ 25,853 $ 65,005 $ 64,375 Adjusted EBITDA Reconciliation by Segment: Net loss $ (15,153) $ (73,937) (14,757) $ (34,686) $ (396) $ (39,251) Goodwill impairment — 55,168 — 17,505 — 37,663 Lease termination recovery (42) — (42) — — — Employee retention credits — — — — — — Share-based compensation expense 5,230 8,285 5,203 8,285 27 — Depreciation and amortization expense 6,522 9,174 4,237 5,123 2,285 4,051 Interest expense 4,289 4,318 1,922 1,957 2,367 2,361 Restructuring costs 2,044 — 1,078 — 966 — Merger, acquisition and integration costs 627 2,304 562 2,191 65 113 Legal settlements 510 312 507 312 3 — Store closure costs 171 566 74 586 97 (20) Loss (gain) on change in value of warrant liability 391 (1,324) 391 (1,324) — — Pre-opening costs — 474 — 474 — — Income tax expense (benefit) 2 (447) — (451) 2 4 (Gain) loss on sale of assets (10) — (6) — $ (4) — Adjusted EBITDA $ 4,581 $ 4,893 $ (831) $ (28) $ 5,412 $ 4,921

Subsequent Events

Subsequent Events	6 Months Ended
	Jul. 03, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 7, 2023 the Credit Agreement was amended through the Sixteenth Amendment, which amended the definition of EBITDA for the purposes of expanding the scope of non-recurring items that may be included in our determination of Adjusted EBTIDA, as well as modifications to certain covenants for leverage and fixed charge ratios. As discussed in Note 8 “ Commitments and Contingencies ” to the consolidated financial statements included within this report for subsequent event regarding the case of Second 82 nd SM, LLC v. BF NY 82, LLC et al. , on August 14, 2023 the Court entered an order granting the Landlord’s Motion for Summary Judgment and ordered a damages hearing on the motion. Subsequent to July 3, 2023, the Company closed one Burgerfi and one Anthony’s store.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 03, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) assuming the Company will continue as a going concern. The going concern assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. However, as discussed below and elsewhere through the Quarterly Report on Form 10-Q, substantial doubt about the Company’s ability to continue as a going concern exists. Please see Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations, as well as Risk Factors in the Company’s Annual Report on Form 10-K for the year ended January 2, 2023 (the “ 2022 Form 10-K ”), for further information. The Company’s credit agreement (“ Credit Agreement ”) with a syndicate of banks has approximately $52.8 million in financing outstanding as of July 3, 2023, and expires on September 30, 2025. The Credit Agreement contains numerous covenants, including those whereby the Company is required to meet certain trailing twelve-month quarterly financial ratios and a minimum liquidity requirement. The Company was in compliance with all of the covenants under the Credit Agreement as of July 3, 2023. As discussed in Note 8 “ Commitments and Contingencies ” to the consolidated financial statements included within this report, in the case of Second 82 nd SM, LLC v. BF NY 82, LLC et al. , the Court entered an order granting the Landlord’s Motion for Summary Judgment and ordered a damages hearing on the motion. As a result, unless the parties otherwise agree to a settlement prior to the damages hearing, the Company expects a judgment to be entered against it of at least approximately $1.2 million. The parties, however, continue to discuss possible settlement prior to the damages hearing, including re-opening the BurgerFi restaurant, as well as the payment, including timing, of past due rent amounts to the Landlord. In addition, the Company is considering other alternatives, including the need to refinance or restructure its debt, sell assets, or seek to raise additional capital, including debt or equity. If the Company is unable to implement one or more of these options or is otherwise unsuccessful in negotiating a settlement, which the Company believes is unlikely, and the court entered a final judgment against the Company, management believes it is possible that the Company will not be in compliance with certain of the financial covenants in its Credit Agreement, which would constitute a breach of the Credit Agreement and an event of default if not cured in accordance with its terms. Any such default would allow the lenders to call the debt sooner than its maturity date of September 30, 2025. In the event that the lenders do call the debt during the next 12 months as the result of a covenant breach, the Company is not forecasted to have the readily available funds to repay the debt, which raises substantial doubt about the Company’s ability to continue as a going concern within one year after the date the consolidated financial statements are issued. The Company has been and continues to be in communication with the Landlord to negotiate a settlement prior to the damages hearing and is also considering other capital raising options to address any potential judgment, as well as any issues related to meeting the covenant requirements over the next 12 months. Management cannot, however, predict the results of any such negotiations or actions. The consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that results from the uncertainty described above. The accompanying condensed 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 and Rule 8-03 of Regulation S-X. Pursuant to these rules and regulations, certain information and footnote disclosures normally included in the annual audited consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The accompanying condensed consolidated balance sheet as of January 3, 2023 is derived from the Company’s audited financial statements as of that date. Because certain information and footnote disclosures have been condensed or omitted, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto as of and for the year ended January 2, 2023 contained in the 2022 Form 10-K. We are required to evaluate events occurring after July 3, 2023 for recognition and disclosure in the unaudited consolidated financial statements for the quarter and six month periods ended July 3, 2023. Events are evaluated based on whether they represent information existing as of July 3, 2023, which require recognition, or new events occurring after July 3, 2023 which do not require recognition but require disclosure if the event is significant. We evaluated events occurring subsequent to July 3, 2023 through the date of issuance of these unaudited consolidated financial statements.
Fiscal Period	On July 28, 2022, our Board of Directors approved the change to a 52-53-week fiscal year ending on the Monday nearest to December 31 of each year in order to improve the alignment of financial and business processes following the acquisition of Anthony’s. Our second fiscal quarter of 2023 ended on July 3, 2023. Our current fiscal year will end on January 1, 2024. As of June 30, 2022, the BurgerFi brand operated on a calendar year-end and the Anthony’s brand operated on a 52-53-week fiscal year. Differences arising from the different fiscal period-ends were not deemed material for the quarter ended June 30, 2022.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements present the consolidated financial position, results from operations and cash flows of BurgerFi International, Inc., and its wholly owned subsidiaries. All material balances and transactions between the entities have been eliminated in consolidation.
Reclassifications	Reclassifications Certain reclassifications have been made to the prior year presentation to conform to the current year 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 consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
New Accounting Pronouncements	New Accounting Pronouncements The Company reviewed all recently issued accounting pronouncements and concluded that they were not applicable or not expected to have a significant impact on the accompanying consolidated financial statements.

Organization (Tables)

Organization (Tables)	6 Months Ended
	Jul. 03, 2023
Accounting Policies [Abstract]
Summary of Store Activity	Store activity for the six months ended July 3, 2023 and the year ended January 2, 2023 is as follows: July 3, 2023 January 2, 2023 Corporate-owned Franchised Total Corporate-owned Franchised Total Total BurgerFi and Anthony's 87 87 174 85 89 174 BurgerFi stores, beginning of the period 25 89 114 25 93 118 BurgerFi stores opened — 5 5 3 8 11 BurgerFi stores acquired / (transferred) 2 (2) — (3) 3 — BurgerFi stores closed — (5) (5) — (15) (15) BurgerFi total stores, end of the period 27 87 114 25 89 114 Anthony's stores, beginning of period 60 — 60 61 — 61 Anthony's stores opened — — — — — — Anthony's stores closed — — — (1) — (1) Anthony's total stores, end of the period 60 — 60 60 — 60

Property & Equipment (Tables)

Property & Equipment (Tables)	6 Months Ended
	Jul. 03, 2023
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment consisted of (in thousands) July 3, 2023 January 2, 2023 Leasehold improvements $ 17,623 $ 17,029 Kitchen equipment and other equipment 8,450 8,196 Computers and office equipment 1,549 1,468 Furniture and fixtures 2,870 2,677 Vehicles 6 37 30,498 29,407 Less: Accumulated depreciation and amortization (12,251) (10,036) Property and equipment – net $ 18,247 $ 19,371

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	6 Months Ended
	Jul. 03, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Components of Intangible Assets	The following is a summary of the components of goodwill and intangible assets, net: July 3, 2023 January 2, 2023 (in thousands) Amount Accumulated Amortization Net Carrying Value Amount Accumulated Amortization Net Carrying Value Intangible assets subject to amortization: Franchise agreements $ 24,839 $ (9,019) $ 15,820 $ 24,839 $ (7,245) $ 17,594 BurgerFi trade names / trademarks 83,033 (7,035) 75,998 83,035 (5,650) 77,385 Anthony's trade names / trademarks 60,690 (3,372) 57,318 60,691 (2,360) 58,331 License agreement 1,177 (1,131) 46 1,176 (1,063) 113 VegeFi product 135 (34) 101 135 (28) 107 Subtotal $ 169,874 $ (20,591) $ 149,283 $ 169,876 $ (16,346) $ 153,530 Liquor licenses $ 5,930 $ — $ 5,930 $ 6,678 $ — $ 6,678 Total intangible assets, net $ 155,213 $ 160,208 Goodwill: BurgerFi $ — $ — Anthony's 31,621 31,621 Total $ 31,621 $ 31,621

Contract Liabilities (Tables)

Contract Liabilities (Tables)	6 Months Ended
	Jul. 03, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Contract with Customer, Contract Asset, Contract Liability, and Receivable	A roll forward of contract liabilities included of which the current portion is included in other current liabilities and other noncurrent liabilities on our consolidated balance sheet is as follows: Six Months Ended (in thousands) July 3, 2023 June 30, 2022 Balance, beginning of period $ 1,092 $2,577 Initial/Transfer franchise fees received 203 291 Revenue recognized for stores open and transfers during period (100) (253) Revenue recognized related to franchise agreement terminations (374) (433) Other unearned revenue (recognized) received (39) — Balance, end of period $ 782 $2,182 Revenue recognized during the periods included in royalty and other fees on our consolidated statement of operations shown was as follows: Quarter Ended Six Months Ended (in thousands) July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 Franchise Fees $ 380 $ 534 $ 513 $ 686

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jul. 03, 2023
Earnings Per Share [Abstract]
Summary of Calculation of Basic and Diluted Income (Loss) Per Common Share	Basic and diluted net loss per common share is calculated as follows: (in thousands, except for per share data) Quarter Ended Six Months Ended Numerator: July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 Net loss available to common stockholders - diluted $ (6,001) $ (60,377) $ (15,153) $ (73,937) Denominator: Diluted weighted-average shares outstanding 24,891,449 22,214,628 24,216,199 22,089,799 Basic and diluted net loss per common share $ (0.24) $ (2.72) $ (0.63) $ (3.35)

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jul. 03, 2023
Leases [Abstract]
Lease, Cost	The components of lease expense for the periods shown is as follows: Quarter Ended Six Months Ended (in thousands) Classification July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 Operating lease cost Occupancy and related expenses $ 3,218 $ 3,097 $ 6,463 $ 6,348 Finance lease cost: Amortization of right-of-use assets Depreciation and amortization expense 55 82 113 134 Interest on lease liabilities Interest expense 13 19 27 31 Less: Sublease income Occupancy and related expenses (47) (47) (94) (94) Total lease cost $ 3,239 $ 3,151 $ 6,509 $ 6,419
Lessee, Operating Lease, Liability, Maturity	The maturity of the Company's operating and finance lease liabilities as of July 3, 2023 is as follows: (in thousands) Operating Leases Finance Leases One Year $ 12,274 $ 142 Two Years 12,154 182 Three Years 11,687 167 Four Years 9,804 158 Five Years 8,173 152 Thereafter 10,217 208 Total undiscounted lease payments 64,309 1,009 Less: present value adjustment (11,146) (158) Total net lease liabilities $ 53,163 $ 851
Finance Lease, Liability, Fiscal Year Maturity	The maturity of the Company's operating and finance lease liabilities as of July 3, 2023 is as follows: (in thousands) Operating Leases Finance Leases One Year $ 12,274 $ 142 Two Years 12,154 182 Three Years 11,687 167 Four Years 9,804 158 Five Years 8,173 152 Thereafter 10,217 208 Total undiscounted lease payments 64,309 1,009 Less: present value adjustment (11,146) (158) Total net lease liabilities $ 53,163 $ 851
Assets And Liabilities, Lessee	A summary of lease terms and discount rates for finance and operating leases is as follows: July 3, 2023 June 30, 2022 Weighted-average remaining lease term (in years) Operating leases 5.8 6.4 Finance leases 5.9 6.6 Weighted-average discount rate Operating leases 7.1 % 6.0 % Finance leases 6.0 % 6.0 %

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jul. 03, 2023
Debt Disclosure [Abstract]
Schedule of Debt	(in thousands) July 3, 2023 January 2, 2023 Term loan $ 52,880 $ 54,507 Related party note payable 15,100 10,000 Revolving line of credit — 4,000 Other notes payable 744 780 Finance lease liability 851 933 Total Debt $ 69,575 $ 70,220 Less: Unamortized debt discount to related party note (688) (765) Less: Unamortized debt issuance costs (1,204) (1,441) Total Debt, net 67,683 68,014 Less: Short-term borrowings, including finance leases (3,485) (4,985) Total Long-term borrowings, including finance leases and related party note payable $ 64,198 $ 63,029 Time Period Interest Rate Through December 31, 2022 6.75% From January 1, 2023 through June 15 2023 6.75% From June 16, 2023 through December 31, 2023 6.75% From January 1, 2024 through June 15, 2024 7.25% From June 16, 2024 through maturity 7.75%
Schedule of Maturities of Long-term Debt	The terms of the Credit Agreement require the Company to repay the principal of the term loan in quarterly installments with the balance due at the maturity date, as follows: in thousands 2023 $ 3,254 2024 3,254 2025 46,372 Total $ 52,880
Schedule of Interest Income and Interest Expense Disclosure	For the quarter and six months ended July 3, 2023 and June 30, 2022, interest expense consisted of: Quarter Ended Six Months Ended (in thousands) July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 Interest on credit agreement $ 1,079 $ 1,024 $ 2,130 $ 1,830 Amortization of debt issuance costs 38 110 77 292 Amortization of related party note discount 130 128 237 255 Non-cash interest on redeemable preferred stock 1,042 963 2,064 1,908 Other interest expense (income) (78) 20 (218) 33 $ 2,211 $ 2,246 $ 4,289 $ 4,318

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jul. 03, 2023
Stockholders' Equity Note [Abstract]
Schedule of Stockholders' Equity Note, Warrants or Rights	The following is an analysis of changes in the warrant liability: (in thousands) Warrant liability at January 2, 2023 $ 195 Loss during the period 391 Warrant liability at July 3, 2023 $ 586
Summary of Activity of Restricted Stock Units	The following table summarizes activity of restricted stock units during the six months ended July 3, 2023: Number of Restricted Stock Units Weighted Average Grant Date Fair Value Non-vested at January 2, 2023 1,445,600 $ 11.68 Granted 744,960 1.23 Vested (328,968) 13.84 Forfeited (161,698) 6.37 Non-vested at July 3, 2023 1,699,894 $ 7.15 The input variables for the Black-Scholes are noted in the table below: July 3, 2023 January 2, 2023 Risk-free interest rate 4.66 % 4.14 % Expected life in years 2.5 3.0 Expected volatility 83.0 % 68.0 % Expected dividend yield — % — %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 03, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables summarize the fair values of financial instruments measured at fair value on a recurring basis as of July 3, 2023 and January 2, 2023. Items Measured at Fair Value at July 3, 2023 (in thousands) Quoted prices in active market for identical assets (liabilities) (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Warrant liability — 586 — Total $ — $ 586 $ — Items Measured at Fair Value at January 2, 2023 (in thousands) Quoted prices in active market for identical assets (liabilities) (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Warrant liability — 195 — Total $ — $ 195 $ —
Input Variable for Black-Scholes Model	The following table summarizes activity of restricted stock units during the six months ended July 3, 2023: Number of Restricted Stock Units Weighted Average Grant Date Fair Value Non-vested at January 2, 2023 1,445,600 $ 11.68 Granted 744,960 1.23 Vested (328,968) 13.84 Forfeited (161,698) 6.37 Non-vested at July 3, 2023 1,699,894 $ 7.15 The input variables for the Black-Scholes are noted in the table below: July 3, 2023 January 2, 2023 Risk-free interest rate 4.66 % 4.14 % Expected life in years 2.5 3.0 Expected volatility 83.0 % 68.0 % Expected dividend yield — % — %

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jul. 03, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The following table presents segment revenue and a reconciliation of adjusted EBITDA to net loss by segment: Quarter Ended Consolidated BurgerFi Anthony's (in thousands) July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 Revenue by Segment $ 43,427 $ 45,298 $ 11,567 $ 13,458 $ 31,860 $ 31,840 Adjusted EBITDA Reconciliation by Segment: Net loss $ (6,001) $ (60,377) $ (5,159) $ (21,726) $ (842) $ (38,651) Goodwill impairment — 55,168 — 17,505 — 37,663 Lease termination recovery (42) — (42) — — Share-based compensation expense 556 909 529 909 27 — Depreciation and amortization expense 3,295 4,730 2,147 2,616 1,148 2,114 Interest expense 2,211 2,246 1,004 992 1,207 1,254 Restructuring costs 1,127 — 413 — 714 — Merger, acquisition and integration costs 299 1,893 234 1,846 65 47 Legal settlements 228 187 225 187 3 — Store closure costs 50 52 9 52 41 — Loss (gain) on change in value of warrant liability 318 (1,858) 318 (1,858) — — Income tax expense (benefit) 2 (335) — (341) 2 6 (Gain) loss on sale of assets (10) — (6) — (4) — Adjusted EBITDA $ 2,033 $ 2,615 $ (328) $ 182 $ 2,361 $ 2,433 Six Months Ended Consolidated BurgerFi Anthony's (in thousands) July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 July 3, 2023 June 30, 2022 Revenue by Segment $ 89,154 $ 90,228 $ 24,148 $ 25,853 $ 65,005 $ 64,375 Adjusted EBITDA Reconciliation by Segment: Net loss $ (15,153) $ (73,937) (14,757) $ (34,686) $ (396) $ (39,251) Goodwill impairment — 55,168 — 17,505 — 37,663 Lease termination recovery (42) — (42) — — — Employee retention credits — — — — — — Share-based compensation expense 5,230 8,285 5,203 8,285 27 — Depreciation and amortization expense 6,522 9,174 4,237 5,123 2,285 4,051 Interest expense 4,289 4,318 1,922 1,957 2,367 2,361 Restructuring costs 2,044 — 1,078 — 966 — Merger, acquisition and integration costs 627 2,304 562 2,191 65 113 Legal settlements 510 312 507 312 3 — Store closure costs 171 566 74 586 97 (20) Loss (gain) on change in value of warrant liability 391 (1,324) 391 (1,324) — — Pre-opening costs — 474 — 474 — — Income tax expense (benefit) 2 (447) — (451) 2 4 (Gain) loss on sale of assets (10) — (6) — $ (4) — Adjusted EBITDA $ 4,581 $ 4,893 $ (831) $ (28) $ 5,412 $ 4,921

Organization - Narrative (Detai

Organization - Narrative (Details)	1 Months Ended	6 Months Ended	12 Months Ended
	Aug. 16, 2023 store	Jul. 03, 2023 store brand	Jan. 02, 2023 store	Dec. 31, 2021 store
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Number of restaurants		174	174
Number of brands | brand		2
Number of international stores		2	1
BurgerFi
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Number of restaurants		114	114	118
Number of stores closed		5	15
BurgerFi | Subsequent Event
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Number of stores closed	1
Anthony's
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Number of restaurants		60	60	61
Number of stores closed		0	1
Anthony's | Subsequent Event
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Number of stores closed	1

Organization - Summary of Store

Organization - Summary of Store Activity (Details) - store	6 Months Ended	12 Months Ended
	Jul. 03, 2023	Jan. 02, 2023
Store Activity [Roll Forward]
Stores, beginning of year	174
Stores, end of year	174	174
BurgerFi
Store Activity [Roll Forward]
Stores, beginning of year	114	118
Number of stores opened	5	11
Number of stores acquired or transferred	0	0
Number of stores closed	(5)	(15)
Stores, end of year	114	114
Anthony's
Store Activity [Roll Forward]
Stores, beginning of year	60	61
Number of stores opened	0	0
Number of stores closed	0	(1)
Stores, end of year	60	60
Corporate-owned
Store Activity [Roll Forward]
Stores, beginning of year	85
Stores, end of year	87	85
Corporate-owned | BurgerFi
Store Activity [Roll Forward]
Stores, beginning of year	25	25
Number of stores opened	0	3
Number of stores acquired or transferred	2	(3)
Number of stores closed	0	0
Stores, end of year	27	25
Corporate-owned | Anthony's
Store Activity [Roll Forward]
Stores, beginning of year	60	61
Number of stores opened	0	0
Number of stores closed	0	(1)
Stores, end of year	60	60
Franchised
Store Activity [Roll Forward]
Stores, beginning of year	89
Stores, end of year	87	89
Franchised | BurgerFi
Store Activity [Roll Forward]
Stores, beginning of year	89	93
Number of stores opened	5	8
Number of stores acquired or transferred	(2)	3
Number of stores closed	(5)	(15)
Stores, end of year	87	89
Franchised | Anthony's
Store Activity [Roll Forward]
Stores, beginning of year	0	0
Number of stores opened	0	0
Number of stores closed	0	0
Stores, end of year	0	0

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands			3 Months Ended		6 Months Ended
	Aug. 14, 2023	Aug. 11, 2021	Jul. 03, 2023	Jun. 30, 2022	Jul. 03, 2023	Jun. 30, 2022	Jan. 02, 2023
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Debt outstanding			$ 67,683		$ 67,683		$ 68,014
Income taxes receivable			100		100		1,500
Prepaid expenses			1,300		1,300		900
Assets held for sale			1,527		1,527		732
Good faith and margin deposit with broker-dealer			900		900
Gift card and gift certificate liabilities			1,000		1,000		1,800
Customer loyalty program liability			900		900		800
Restructuring costs and other charges, net			1,135	$ 52	2,174	$ 1,040
Severance costs				$ 1,100		$ 1,100
Line of credit facility, increase					1,100
Second 82nd SM, LLC c BF NY 82, LLC, BurgerFi International, LLC and BurgerFi International, Inc. | Settled Litigation
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Loss contingency, damages sought		$ 1,200
Second 82nd SM, LLC c BF NY 82, LLC, BurgerFi International, LLC and BurgerFi International, Inc. | Settled Litigation | Subsequent Event
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Loss contingency, damages sought	$ 1,200
Term loan
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Debt outstanding			52,800		52,800
Anthony's
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Assets held for sale			800		800
BF Dania Beach, LLC
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Assets held for sale			$ 700		$ 700		$ 700

Property & Equipment - Summary

Property & Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Jul. 03, 2023	Jan. 02, 2023
Property Plant And Equipment [Line Items]
Property and equipment – gross	$ 30,498	$ 29,407
Less: Accumulated depreciation and amortization	(12,251)	(10,036)
Property and equipment – net	18,247	19,371
Leasehold improvements
Property Plant And Equipment [Line Items]
Property and equipment – gross	17,623	17,029
Kitchen equipment and other equipment
Property Plant And Equipment [Line Items]
Property and equipment – gross	8,450	8,196
Computers and office equipment
Property Plant And Equipment [Line Items]
Property and equipment – gross	1,549	1,468
Furniture and fixtures
Property Plant And Equipment [Line Items]
Property and equipment – gross	2,870	2,677
Vehicles
Property Plant And Equipment [Line Items]
Property and equipment – gross	$ 6	$ 37

Property & Equipment - Narrativ

Property & Equipment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2023	Jun. 30, 2022	Jul. 03, 2023	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 1.2	$ 2.6	$ 2.3	$ 4.9

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Goodwill Rollforward (Details) - USD ($) $ in Thousands	Jul. 03, 2023	Jan. 02, 2023
Finite Lived Intangible Assets [Line Items]
Amount	$ 169,874	$ 169,876
Accumulated Amortization	(20,591)	(16,346)
Net Carrying Value	149,283	153,530
Net Carrying Value	155,213	160,208
Goodwill	31,621	31,621
BurgerFi
Finite Lived Intangible Assets [Line Items]
Goodwill	0	0
Anthony's
Finite Lived Intangible Assets [Line Items]
Goodwill	31,621	31,621
Franchise agreements
Finite Lived Intangible Assets [Line Items]
Amount	24,839	24,839
Accumulated Amortization	(9,019)	(7,245)
Net Carrying Value	15,820	17,594
Trade names/trademarks | BurgerFi
Finite Lived Intangible Assets [Line Items]
Amount	83,033	83,035
Accumulated Amortization	(7,035)	(5,650)
Net Carrying Value	75,998	77,385
Trade names/trademarks | Anthony's
Finite Lived Intangible Assets [Line Items]
Amount	60,690	60,691
Accumulated Amortization	(3,372)	(2,360)
Net Carrying Value	57,318	58,331
License agreement
Finite Lived Intangible Assets [Line Items]
Amount	1,177	1,176
Accumulated Amortization	(1,131)	(1,063)
Net Carrying Value	46	113
Liquor licenses
Finite Lived Intangible Assets [Line Items]
Liquor licenses	5,930	6,678
VegeFi product
Finite Lived Intangible Assets [Line Items]
Amount	135	135
Accumulated Amortization	(34)	(28)
Net Carrying Value	$ 101	$ 107

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2023	Jun. 30, 2022	Jul. 03, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 2.1	$ 2.1	$ 4.2	$ 4.2

Contract Liabilities - Analysis

Contract Liabilities - Analysis of Deferred Revenue (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 03, 2023	Jun. 30, 2022
Contract With Customer, Liability Activity [Roll Forward]
Balance, beginning of period	$ 1,092	$ 2,577
Initial/Transfer franchise fees received	203	291
Revenue recognized for stores open and transfers during period	(100)	(253)
Revenue recognized related to franchise agreement terminations	(374)	(433)
Other unearned revenue (recognized) received	(39)	0
Balance, end of period	$ 782	$ 2,182

Contract Liabilities - Summary

Contract Liabilities - Summary of Franchise Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2023	Jun. 30, 2022	Jul. 03, 2023	Jun. 30, 2022
Franchise Fees
Disaggregation Of Revenue [Line Items]
Recognized revenue	$ 380	$ 534	$ 513	$ 686

Net Loss Per Share - Narrative

Net Loss Per Share - Narrative (Details)	6 Months Ended
	Jul. 03, 2023 shares
Public Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	15,063,800
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	75,000
Common Stock | Unit Purchase Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	75,000
Restricted Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,724,639

Net Loss Per Share (Details)

Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2023	Jun. 30, 2022	Jul. 03, 2023	Jun. 30, 2022
Numerator:
Net loss attributable to common stockholders	$ (6,001)	$ (60,377)	$ (15,153)	$ (73,937)
Denominator:
Diluted weighted-average shares outstanding (in shares)	24,891,449	22,214,628	24,216,199	22,089,799
Basic net loss per common share (in USD per share)	$ (0.24)	$ (2.72)	$ (0.63)	$ (3.35)
Diluted net loss income per common share (in USD per share)	$ (0.24)	$ (2.72)	$ (0.63)	$ (3.35)

Related Party Transactions (Det

Related Party Transactions (Details) $ / shares in Units, $ in Thousands

3 Months Ended

6 Months Ended

Jan. 23, 2023 USD ($) location store shares

Jan. 03, 2023 USD ($) shares

Jan. 03, 2022 shares

Jul. 03, 2023 USD ($)

Jun. 30, 2022 USD ($) store

Jul. 03, 2023 USD ($) shares

Jun. 30, 2022 USD ($)

Jun. 03, 2023 $ / shares

Jan. 02, 2023 USD ($)

Sep. 01, 2022 USD ($)

Feb. 28, 2022

Jan. 01, 2020

Related Party Transaction [Line Items]

Rent expense

$ 100

$ 100

Shares issued in private placement (in shares) | shares

2,868,853

Issuance price (in dollars per share) | $ / shares

$ 1.22

Shares issued in private placement

$ 3,436

$ 3,436

Percentage of stock held by investor

11%

Stores Acquired From Stockholder

Related Party Transaction [Line Items]

Due from the stockholder | location

5

Number of stores acquired or transferred | store

2

Number of entities acquired | store

3

Consideration paid

$ 900

Cash

$ 500

Shares issued to acquire business (in shares) | shares

200,000

Value of stock transferred

$ 400

Fair value of net liabilities

$ 100

Leased Building Space

Related Party Transaction [Line Items]

Rent expense

$ 100

100

Affiliated Entity

Related Party Transaction [Line Items]

Number of stores acquired or transferred | store

2

Affiliated Entity | Independent Contractor Agreement

Related Party Transaction [Line Items]

Due to related party

$ 100

Affiliated Entity | Entity Under Common Ownership With Significant Shareholder | Leased Building Space

Related Party Transaction [Line Items]

Lease term

36 months

Affiliated Entity | Entity Under Common Ownership With Significant Shareholder | Leased Building Space Amendment

Related Party Transaction [Line Items]

Rent expense

200

$ 200

Lease term

10 years

Affiliated Entity | Consultant | Restricted Stock Units (RSUs) | Strategic Advisory Services, 2023 Program

Related Party Transaction [Line Items]

Share-based compensation expense

$ 100

0

100

Affiliated Entity | Consultant | Restricted Stock Units (RSUs) | Strategic Advisory Services, 2022 Program

Related Party Transaction [Line Items]

Share-based compensation expense

$ 0

$ 200

$ 200

$ 100

Chief Operating Officer | Common Stock

Related Party Transaction [Line Items]

Shares granted (in shares) | shares

38,000

37,959

Related Party

Related Party Transaction [Line Items]

Due from related party

$ 0

Due to related party

$ 300

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions				1 Months Ended	18 Months Ended
	Aug. 14, 2023 USD ($)	Aug. 11, 2021 USD ($) claim	May 21, 2021 USD ($)	Feb. 29, 2020 USD ($)	Aug. 26, 2022 USD ($)	Jul. 03, 2023 USD ($)
Commitments And Contingencies [Line Items]
Purchase commitment						$ 3.2
Employee Retention Claims
Commitments And Contingencies [Line Items]
Estimate of possible loss						$ 0.5
Pending Litigation | Second 82nd SM, LLC c BF NY 82, LLC, BurgerFi International, LLC and BurgerFi International, Inc.
Commitments And Contingencies [Line Items]
Loss contingency, damages sought		$ 1.5
Pending claims | claim		7
Pending Litigation | Lion Point Capital Allegation
Commitments And Contingencies [Line Items]
Loss contingency, damages sought					$ 26
Pending Litigation | Burger Guys of Dania Pointe, et. al
Commitments And Contingencies [Line Items]
Loss contingency, damages sought			$ 2
Pending Litigation | All Round Food Bakery Products, Inc. v. BurgerFi International, LLC and Neri’s Bakery Products, Inc. et al
Commitments And Contingencies [Line Items]
Loss contingency, damages sought				$ 1
Settled Litigation | Second 82nd SM, LLC c BF NY 82, LLC, BurgerFi International, LLC and BurgerFi International, Inc.
Commitments And Contingencies [Line Items]
Loss contingency, damages sought		$ 1.2
Settled Litigation | Second 82nd SM, LLC c BF NY 82, LLC, BurgerFi International, LLC and BurgerFi International, Inc. | Subsequent Event
Commitments And Contingencies [Line Items]
Loss contingency, damages sought	$ 1.2

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2023	Jun. 30, 2022	Jul. 03, 2023	Jun. 30, 2022
Leases [Abstract]
Operating lease cost	$ 3,218	$ 3,097	$ 6,463	$ 6,348
Finance lease cost:
Amortization of right-of-use assets	55	82	113	134
Interest on lease liabilities	13	19	27	31
Less: Sublease income	(47)	(47)	(94)	(94)
Total lease cost	$ 3,239	$ 3,151	$ 6,509	$ 6,419

Leases - Lease Maturities (Deta

Leases - Lease Maturities (Details) - USD ($) $ in Thousands	Jul. 03, 2023	Jan. 02, 2023
Operating Leases
One Year	$ 12,274
Two Years	12,154
Three Years	11,687
Four Years	9,804
Five Years	8,173
Thereafter	10,217
Total undiscounted lease payments	64,309
Less: present value adjustment	(11,146)
Total net lease liabilities	53,163
Finance Leases
One Year	142
Two Years	182
Three Years	167
Four Years	158
Five Years	152
Thereafter	208
Total undiscounted lease payments	1,009
Less: present value adjustment	(158)
Total net lease liabilities	$ 851	$ 933

Leases - Lease Terms and Discou

Leases - Lease Terms and Discount Rates (Details)	Jul. 03, 2023	Jun. 30, 2022
Weighted-average remaining lease term (in years)
Operating leases	5 years 9 months 18 days	6 years 4 months 24 days
Finance leases	5 years 10 months 24 days	6 years 7 months 6 days
Weighted-average discount rate
Operating leases	7.10%	6%
Finance leases	6%	6%

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Jul. 03, 2023	Jan. 02, 2023
Debt Instrument [Line Items]
Other notes payable	$ 744	$ 780
Finance lease liability	851	933
Total Debt	69,575	70,220
Less: Unamortized debt discount to related party note	(688)	(765)
Less: Unamortized debt issuance costs	(1,204)	(1,441)
Total Debt, net	67,683	68,014
Less: Short-term borrowings, including finance leases	(3,485)	(4,985)
Total Long-term borrowings, including finance leases and related party note payable	64,198	63,029
Related party note payable
Debt Instrument [Line Items]
Related party note payable	15,100	10,000
Term loan
Debt Instrument [Line Items]
Long-term debt, gross	52,880	54,507
Total Debt, net	52,800
Revolving line of credit
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	$ 4,000

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Feb. 24, 2023	Jul. 03, 2023	Jun. 30, 2022	Jul. 03, 2023	Jun. 30, 2022	Jan. 02, 2023
Debt Instrument [Line Items]
Unamortized debt discount		$ 688		$ 688		$ 765
Term loan
Debt Instrument [Line Items]
Long-term debt, gross		52,880		52,880		54,507
Revolving line of credit
Debt Instrument [Line Items]
Long-term debt, gross		0		0		4,000
Credit Agreement
Debt Instrument [Line Items]
Amortization of debt issuance costs		38	$ 110	77	$ 292
Credit Agreement | Term loan
Debt Instrument [Line Items]
Debt forgiven	$ 10,000
Credit Agreement | Revolving line of credit
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity		4,000		4,000
Credit Agreement | Loans Payable, Noncurrent
Debt Instrument [Line Items]
Unamortized debt discount		1,300		1,300
Amortization of debt issuance costs		100		100
Credit Agreement | Loans Payable, Noncurrent | Related Party
Debt Instrument [Line Items]
Related party note payable		14,400		14,400		9,200
New Junior Subordinated Secured Notes | Junior Subordinated Debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 5,100
Interest rate	4%
Related party note payable
Debt Instrument [Line Items]
Related party note payable		$ 15,100		$ 15,100		$ 10,000

Debt - Repayment of Principal (

Debt - Repayment of Principal (Details) - Credit Agreement $ in Thousands	Jul. 03, 2023 USD ($)
Maturities of Long-term Debt [Abstract]
2023	$ 3,254
2024	3,254
2025	46,372
Total	$ 52,880

Debt Interest Incurred (Details

Debt Interest Incurred (Details) - Credit Agreement	Jul. 03, 2023
Interest Period One
Debt Instrument [Line Items]
Interest Rate	6.75%
Interest Period Two
Debt Instrument [Line Items]
Interest Rate	6.75%
Interest Period Three
Debt Instrument [Line Items]
Interest Rate	6.75%
Interest Period Four
Debt Instrument [Line Items]
Interest Rate	7.25%
Interest Period Five
Debt Instrument [Line Items]
Interest Rate	7.75%

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2023	Jun. 30, 2022	Jul. 03, 2023	Jun. 30, 2022
Debt Instrument [Line Items]
Interest on credit agreement	$ 1,079	$ 1,024	$ 2,130	$ 1,830
Amortization of related party note discount	130	128	237	255
Non-cash interest on redeemable preferred stock	1,042	963	2,064	1,908
Other interest expense (income)	(78)	20	(218)	33
Interest expense on debt	2,211	2,246	4,289	4,318
Credit Agreement
Debt Instrument [Line Items]
Amortization of debt issuance costs	$ 38	$ 110	$ 77	$ 292

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2023	Jun. 30, 2022	Jul. 03, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax rate	0%	0.60%	0%	0.60%
Unrecognized tax benefits	$ 0.2		$ 0.2

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	Feb. 24, 2023	Jul. 03, 2023	Jun. 30, 2022	Jul. 03, 2023	Jun. 30, 2022	Jan. 05, 2023	Jan. 02, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, shares authorized (in shares)		100,000,000		100,000,000			100,000,000
Common stock, par value (in USD per share)		$ 0.0001		$ 0.0001		$ 0.0001	$ 0.0001
Common stock, shares, outstanding (in shares)		26,724,218		26,724,218			22,257,772
Preferred stock, shares authorized (in shares)		10,000,000		10,000,000			10,000,000
Preferred stock, par value (in USD per share)		$ 0.0001		$ 0.0001			$ 0.0001
Preferred stock, shares outstanding (in shares)		2,120,000		2,120,000			2,120,000
Dividend rate	10%
Preferred stock, default rate	2%
Preferred stock, default rate increase	0.35%
Warrants outstanding (in shares)		15,063,800		15,063,800
Warrants exercise price (in USD per share)		$ 11.50		$ 11.50
UPO units that are exercisable (in shares)				75,000
Warrant liability		$ 586		$ 586			$ 195
Loss (gain) on change in fair value of warrant liabilities		318	$ (1,858)	391	$ (1,324)
Additional shares issued (in shares)						1,112,889
Share-based compensation expense		$ 556	$ 909	$ 5,230	$ 8,285
Measurement Input, Share Price
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Warrants, measurement input		1.63		1.63			1.26
2020 Omnibus Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common shares available for future grants (in shares)		150,000		150,000			600,000
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost		$ 8,300		$ 8,300
Unrecognized stock-based compensation expense, weighted-average recognition period		1 year 4 months 24 days
Public Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Warrants outstanding (in shares)		11,468,800		11,468,800
Private Placement
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Warrants outstanding (in shares)		3,000,000		3,000,000
Private Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Warrants outstanding (in shares)		445,000		445,000
Warrants exercise price (in USD per share)		$ 0.16		$ 0.16			$ 50,000
Working Capital Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Warrants outstanding (in shares)		150,000		150,000
UPO Units Exercise Price One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
UPO units exercise price (in USD per share)				$ 10

Stockholders' Equity - Warrants

Stockholders' Equity - Warrants (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2023	Jun. 30, 2022	Jul. 03, 2023	Jun. 30, 2022
Warrant Liability [Roll Forward]
Warrant liability at January 2, 2023			$ 195
Loss during the period	$ 318	$ (1,858)	391	$ (1,324)
Warrant liability at July 3, 2023	$ 586		$ 586

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Activity of Restricted Stock Units (Details) - Restricted Stock Units (RSUs)	6 Months Ended
	Jul. 03, 2023 $ / shares shares
Number of Restricted Stock Units
Non-vested, beginning balance (in shares) | shares	1,445,600
Granted (in shares) | shares	744,960
Vested (in shares) | shares	(328,968)
Forfeited (in shares) | shares	(161,698)
Non-vested, ending balance (in shares) | shares	1,699,894
Weighted Average Grant Date Fair Value
Non-vested, beginning balance (in USD per share) | $ / shares	$ 11.68
Granted (in USD per share) | $ / shares	1.23
Vested (in USD per share) | $ / shares	13.84
Forfeited (in USD per share) | $ / shares	6.37
Non-vested, ending balance (in USD per share) | $ / shares	$ 7.15

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value by Hierarchy (Details) - USD ($) $ in Thousands	Jul. 03, 2023	Jan. 02, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrant liability	$ 586	$ 195
Quoted prices in active market for identical assets (liabilities) (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrant liability	0	0
Total	0	0
Significant other observable inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrant liability		195
Total	586	195
Significant unobservable inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrant liability	0	0
Total	$ 0	$ 0

Fair Value Measurements (Detail

Fair Value Measurements (Details)	Jul. 03, 2023 $ / shares	Jan. 02, 2023 $ / shares
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants exercise price (in USD per share)	$ 11.50
Private Warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants exercise price (in USD per share)	$ 0.16	$ 50,000
Measurement Input, Share Price
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants, measurement input	1.63	1.26

Fair Value Measurements - Black

Fair Value Measurements - Black Scholes Measurement Inputs (Details)	Jul. 03, 2023 yr	Jan. 02, 2023 yr
Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.0466	0.0414
Expected life in years
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	2.5	3
Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.830	0.680
Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0	0

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
	Jul. 03, 2023 Segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Segment Information - Summary o

Segment Information - Summary of Financial Statement Data by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2023	Jun. 30, 2022	Jul. 03, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenue by Segment	$ 43,427	$ 45,298	$ 89,154	$ 90,228
Net loss	(6,001)	(60,377)	(15,153)	(73,937)
Goodwill impairment			0	55,168
Interest expense	2,211	2,246	4,289	4,318
Restructuring costs	1,135	52	2,174	1,040
(Loss) gain on change in value of warrant liability	318	(1,858)	391	(1,324)
Income tax expense (benefit)	2	(335)	2	(447)
Parent Company
Segment Reporting Information [Line Items]
Revenue by Segment	43,427	45,298	89,154	90,228
Net loss	(6,001)	(60,377)	(15,153)	(73,937)
Goodwill impairment	0	55,168	0	55,168
Lease termination recovery		0	(42)	0
Employee retention credits			0	0
Share-based compensation expense	556	909	5,230	8,285
Depreciation and amortization expense	3,295	4,730	6,522	9,174
Interest expense	2,211	2,246	4,289	4,318
Restructuring costs	1,127	0	2,044	0
Merger, acquisition and integration costs	299	1,893	627	2,304
Legal settlements	228	187	510	312
Store closure costs	50	52	171	566
(Loss) gain on change in value of warrant liability	318	(1,858)	391	(1,324)
Pre-opening costs			0	474
Income tax expense (benefit)	2	(335)	2	(447)
(Gain) loss on sale of assets	(10)	0	(10)	0
Adjusted EBITDA	2,033	2,615	4,581	4,893
BurgerFi
Segment Reporting Information [Line Items]
Revenue by Segment	11,567	13,458	24,148	25,853
Net loss	(5,159)	(21,726)	(14,757)	(34,686)
Goodwill impairment	0	17,505	0	17,505
Lease termination recovery			(42)	0
Employee retention credits			0	0
Share-based compensation expense	529	909	5,203	8,285
Depreciation and amortization expense	2,147	2,616	4,237	5,123
Interest expense	1,004	992	1,922	1,957
Restructuring costs	413	0	1,078	0
Merger, acquisition and integration costs	234	1,846	562	2,191
Legal settlements	225	187	507	312
Store closure costs	9	52	74	586
(Loss) gain on change in value of warrant liability	318	(1,858)	391	(1,324)
Pre-opening costs			0	474
Income tax expense (benefit)	0	(341)	0	(451)
(Gain) loss on sale of assets	(6)	0	(6)	0
Adjusted EBITDA	(328)	182	(831)	(28)
Anthony's
Segment Reporting Information [Line Items]
Revenue by Segment	31,860	31,840	65,005	64,375
Net loss	(842)	(38,651)	(396)	(39,251)
Goodwill impairment	0	37,663	0	37,663
Lease termination recovery	0	0	0	0
Employee retention credits			0	0
Share-based compensation expense	27	0	27	0
Depreciation and amortization expense	1,148	2,114	2,285	4,051
Interest expense	1,207	1,254	2,367	2,361
Restructuring costs	714	0	966	0
Merger, acquisition and integration costs	65	47	65	113
Legal settlements	3	0	3	0
Store closure costs	41	0	97	(20)
(Loss) gain on change in value of warrant liability	0	0	0	0
Pre-opening costs			0	0
Income tax expense (benefit)	2	6	2	4
(Gain) loss on sale of assets	(4)	0	(4)	0
Adjusted EBITDA	$ 2,361	$ 2,433	$ 5,412	$ 4,921

Subsequent Events (Details)

Subsequent Events (Details) - store	1 Months Ended	6 Months Ended	12 Months Ended
	Aug. 16, 2023	Jul. 03, 2023	Jan. 02, 2023
BurgerFi
Subsequent Event [Line Items]
Number of stores closed		5	15
BurgerFi | Subsequent Event
Subsequent Event [Line Items]
Number of stores closed	1
Anthony's
Subsequent Event [Line Items]
Number of stores closed		0	1
Anthony's | Subsequent Event
Subsequent Event [Line Items]
Number of stores closed	1