Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Mar. 26, 2024 | Apr. 23, 2024 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000825324 | |
Entity Registrant Name | Good Times Restaurants Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --09-26 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 26, 2024 | |
Document Transition Report | false | |
Entity File Number | 0-18590 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 84-1133368 | |
Entity Address, Address Line One | 651 CORPORATE CIRCLE | |
Entity Address, City or Town | GOLDEN | |
Entity Address, State or Province | CO | |
Entity Address, Postal Zip Code | 80401 | |
City Area Code | 303 | |
Local Phone Number | 384-1400 | |
Title of 12(b) Security | Common Stock $.001 par value | |
Trading Symbol | GTIM | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 11,002,084 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 26, 2024 | Sep. 26, 2023 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 4,000 | $ 4,182 |
Receivables | 862 | 769 |
Prepaid expenses and other | 768 | 163 |
Inventories | 1,434 | 1,407 |
Total current assets | 7,064 | 6,521 |
PROPERTY AND EQUIPMENT: | ||
Land and building | 5,722 | 5,722 |
Leasehold improvements | 38,481 | 38,191 |
Fixtures and equipment | 33,811 | 33,040 |
Total property and equipment | 78,014 | 76,953 |
Less accumulated depreciation and amortization | (55,787) | (53,917) |
Total net property and equipment | 22,227 | 23,036 |
OTHER ASSETS: | ||
Operating lease right-of-use assets, net | 38,160 | 40,007 |
Deferred tax assets | 11,584 | 11,583 |
Deposits and other assets | 266 | 277 |
Trademarks | 3,900 | 3,900 |
Other intangibles, net | 41 | 51 |
Goodwill | 5,713 | 5,713 |
Total other assets | 59,664 | 61,531 |
TOTAL ASSETS: | 88,955 | 91,088 |
CURRENT LIABILITIES: | ||
Accounts payable | 2,745 | 2,585 |
Deferred income | 46 | 67 |
Operating lease liabilities, current | 6,078 | 5,787 |
Other accrued liabilities | 6,710 | 6,451 |
Total current liabilities | 15,579 | 14,890 |
LONG-TERM LIABILITIES: | ||
Maturities of long-term debt | 1,250 | 750 |
Operating lease liabilities, net of current portion | 39,875 | 42,332 |
Deferred revenues and other liabilities | 116 | 122 |
Total long-term liabilities | 41,241 | 43,204 |
SHAREHOLDERS’ EQUITY: | ||
Preferred stock, $.01 par value; 5,000,000 shares authorized, no shares issued and outstanding as of March 26, 2024 and September 26, 2023 | 0 | 0 |
Common stock, $.001 par value; 50,000,000 shares authorized; 12,977,433 issued; and 11,033,319 and 11,446,587 outstanding as of March 26, 2024 and September 26, 2023, respectively | 13 | 13 |
Capital contributed in excess of par value | 56,779 | 56,701 |
Treasury stock, at cost; 1,944,114 and 1,530,846 shares as of March 26, 2024 and September 26, 2023, respectively | (5,992) | (4,908) |
Accumulated deficit | (19,173) | (19,235) |
Total Good Times Restaurants Inc. shareholders’ equity | 31,627 | 32,571 |
Non-controlling interests | 508 | 423 |
Total shareholders’ equity | 32,135 | 32,994 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ 88,955 | $ 91,088 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 26, 2024 | Sep. 26, 2023 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 12,977,433 | 12,977,433 |
Common stock, shares outstanding (in shares) | 11,033,319 | 11,446,587 |
Treasury stock, shares (in shares) | 1,944,114 | 1,530,846 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 26, 2024 | Mar. 28, 2023 | Mar. 26, 2024 | Mar. 28, 2023 | |
NET REVENUES: | ||||
Total net revenues | $ 35,438 | $ 34,785 | $ 68,570 | $ 68,179 |
RESTAURANT OPERATING COSTS: | ||||
Food and packaging costs | 10,599 | 10,655 | 20,926 | 21,262 |
Payroll and other employee benefit costs | 12,266 | 11,989 | 23,890 | 23,537 |
Restaurant occupancy costs | 2,613 | 2,428 | 5,118 | 4,886 |
Other restaurant operating costs | 5,105 | 4,826 | 9,833 | 9,318 |
Preopening costs | 0 | 30 | 0 | 30 |
Depreciation and amortization | 926 | 911 | 1,853 | 1,821 |
Total restaurant operating costs | 31,509 | 30,839 | 61,620 | 60,854 |
General and administrative costs | 2,554 | 2,297 | 4,867 | 4,675 |
Advertising costs | 824 | 778 | 1,916 | 1,672 |
Impairment of long-lived assets | 0 | 76 | 0 | 76 |
Loss (gain) on restaurant and equipment asset sales | 4 | (22) | (6) | (22) |
Litigation contingencies | (97) | 0 | (97) | 0 |
INCOME FROM OPERATIONS: | 644 | 817 | 270 | 924 |
Interest and other expense, net | (42) | (26) | (74) | (38) |
NET INCOME BEFORE INCOME TAXES: | 602 | 791 | 196 | 886 |
Provision for income taxes | 78 | 9,952 | 1 | 9,952 |
NET INCOME: | 680 | 10,743 | 197 | 10,838 |
Income attributable to non-controlling interests | (62) | (122) | (135) | (344) |
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS | $ 618 | $ 10,621 | $ 62 | $ 10,494 |
NET INCOME PER SHARE, ATTRIBUTABLE TO COMMON SHAREHOLDERS: | ||||
Basic (in dollars per share) | $ 0.06 | $ 0.9 | $ 0.01 | $ 0.88 |
Diluted (in dollars per share) | $ 0.06 | $ 0.89 | $ 0.01 | $ 0.88 |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | ||||
Basic (in shares) | 11,136,207 | 11,818,651 | 11,256,893 | 11,930,140 |
Diluted (in shares) | 11,230,717 | 11,884,123 | 11,352,592 | 11,985,254 |
Service [Member] | ||||
NET REVENUES: | ||||
Total net revenues | $ 35,265 | $ 34,568 | $ 68,211 | $ 67,747 |
Franchise [Member] | ||||
NET REVENUES: | ||||
Total net revenues | $ 173 | $ 217 | $ 359 | $ 432 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Treasury Stock, Common [Member] | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | Noncontrolling Interest [Member] | Retained Earnings [Member] | Total |
BALANCES (in shares) at Sep. 27, 2022 | 692,798 | 12,274,351 | ||||
BALANCES at Sep. 27, 2022 | $ (2,634) | $ 13 | $ 59,427 | $ 1,303 | $ (30,321) | $ 27,788 |
Stock-based compensation cost | $ 0 | $ 0 | 46 | 0 | 0 | 46 |
Treasury Shares Purchased (in shares) | 371,395 | (371,395) | ||||
Treasury Shares Purchased | $ (873) | $ 0 | 0 | 0 | 0 | (873) |
Income | 0 | 0 | 0 | 222 | 0 | 222 |
Distributions | 0 | 0 | 0 | (172) | 0 | (172) |
Net loss attributable to Good Times Restaurants Inc and comprehensive income | $ 0 | $ 0 | 0 | 0 | (127) | (127) |
Restricted stock unit vesting (in shares) | 0 | 8,284 | ||||
Restricted stock unit vesting | $ 0 | $ 0 | (92) | 0 | 0 | (92) |
Stock option exercise (in shares) | 0 | 2,000 | ||||
Stock option exercise | $ 0 | $ 0 | 5 | 0 | 0 | 5 |
Contributions | $ 0 | $ 0 | 0 | 13 | 0 | 13 |
BALANCES (in shares) at Dec. 27, 2022 | 1,064,193 | 11,913,240 | ||||
BALANCES at Dec. 27, 2022 | $ (3,507) | $ 13 | 59,386 | 1,366 | (30,448) | 26,810 |
BALANCES (in shares) at Sep. 27, 2022 | 692,798 | 12,274,351 | ||||
BALANCES at Sep. 27, 2022 | $ (2,634) | $ 13 | 59,427 | 1,303 | (30,321) | 27,788 |
Income | 344 | |||||
Net loss attributable to Good Times Restaurants Inc and comprehensive income | 10,494 | |||||
BALANCES (in shares) at Mar. 28, 2023 | 1,231,083 | 11,746,350 | ||||
BALANCES at Mar. 28, 2023 | $ (3,974) | $ 13 | 56,754 | 363 | (19,827) | 33,329 |
BALANCES (in shares) at Dec. 27, 2022 | 1,064,193 | 11,913,240 | ||||
BALANCES at Dec. 27, 2022 | $ (3,507) | $ 13 | 59,386 | 1,366 | (30,448) | 26,810 |
Stock-based compensation cost | $ 0 | $ 0 | 43 | 0 | 0 | 43 |
Treasury Shares Purchased (in shares) | 166,890 | (166,890) | ||||
Treasury Shares Purchased | $ (467) | $ 0 | 0 | 0 | 0 | (467) |
Income | 0 | 0 | 0 | 122 | 0 | 122 |
Distributions | 0 | 0 | 0 | (294) | 0 | (294) |
Net loss attributable to Good Times Restaurants Inc and comprehensive income | 0 | 0 | 0 | 0 | 10,621 | 10,621 |
Purchase of non-controlling interests | $ 0 | $ 0 | (2,675) | (831) | 0 | (3,506) |
BALANCES (in shares) at Mar. 28, 2023 | 1,231,083 | 11,746,350 | ||||
BALANCES at Mar. 28, 2023 | $ (3,974) | $ 13 | 56,754 | 363 | (19,827) | 33,329 |
BALANCES (in shares) at Sep. 26, 2023 | 1,530,846 | 11,446,587 | ||||
BALANCES at Sep. 26, 2023 | $ (4,908) | $ 13 | 56,701 | 423 | (19,235) | 32,994 |
Stock-based compensation cost | $ 0 | $ 0 | 38 | 0 | 0 | 38 |
Treasury Shares Purchased (in shares) | 160,772 | (160,772) | ||||
Treasury Shares Purchased | $ (438) | $ 0 | 0 | 0 | 0 | (438) |
Income | 0 | 0 | 0 | 73 | 0 | 73 |
Distributions | 0 | 0 | 0 | (29) | 0 | (29) |
Net loss attributable to Good Times Restaurants Inc and comprehensive income | $ 0 | $ 0 | 0 | 0 | (556) | (556) |
BALANCES (in shares) at Dec. 26, 2023 | 1,691,618 | 11,285,815 | ||||
BALANCES at Dec. 26, 2023 | $ (5,346) | $ 13 | 56,739 | 467 | (19,791) | 32,082 |
BALANCES (in shares) at Sep. 26, 2023 | 1,530,846 | 11,446,587 | ||||
BALANCES at Sep. 26, 2023 | $ (4,908) | $ 13 | 56,701 | 423 | (19,235) | 32,994 |
Income | 135 | |||||
Net loss attributable to Good Times Restaurants Inc and comprehensive income | 62 | |||||
BALANCES (in shares) at Mar. 26, 2024 | 1,944,114 | 11,033,319 | ||||
BALANCES at Mar. 26, 2024 | $ (5,992) | $ 13 | 56,779 | 508 | (19,173) | 32,135 |
BALANCES (in shares) at Dec. 26, 2023 | 1,691,618 | 11,285,815 | ||||
BALANCES at Dec. 26, 2023 | $ (5,346) | $ 13 | 56,739 | 467 | (19,791) | 32,082 |
Stock-based compensation cost | $ 0 | $ 0 | 40 | 0 | 0 | 40 |
Treasury Shares Purchased (in shares) | 252,496 | (252,496) | ||||
Treasury Shares Purchased | $ (646) | $ 0 | 0 | 0 | 0 | (646) |
Income | 0 | 0 | 0 | 62 | 0 | 62 |
Distributions | 0 | 0 | 0 | (21) | 0 | (21) |
Net loss attributable to Good Times Restaurants Inc and comprehensive income | $ 0 | $ 0 | 0 | 0 | 618 | 618 |
BALANCES (in shares) at Mar. 26, 2024 | 1,944,114 | 11,033,319 | ||||
BALANCES at Mar. 26, 2024 | $ (5,992) | $ 13 | $ 56,779 | $ 508 | $ (19,173) | $ 32,135 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Mar. 26, 2024 | Mar. 28, 2023 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 197 | $ 10,838 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation and amortization | 1,899 | 1,859 |
Net change in operating lease right-of-use assets and liabilities | (319) | (329) |
Recognition of deferred gain on sale of restaurant building | (19) | (31) |
Impairment of long-lived assets | 0 | 76 |
Loss on disposal of assets | 13 | 9 |
Stock-based compensation expense | 78 | 89 |
Provision for income taxes | (1) | (9,959) |
Changes in operating assets and liabilities: | ||
Receivables and other | (93) | 135 |
Prepaid expense | (605) | (853) |
Inventories | (27) | 66 |
Deposits and other | 11 | 10 |
Accounts payable | 129 | 1,596 |
Accrued and other liabilities | 252 | 652 |
Net cash provided by operating activities | 1,515 | 4,158 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Payments for the purchase of property and equipment | (1,063) | (1,423) |
Purchase of non-controlling interests | 0 | (4,394) |
Net cash used in investing activities | (1,063) | (5,817) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Borrowings against credit facility | 1,000 | 0 |
Payments on credit facility | (500) | 0 |
Payment for the purchase of treasury stock | (1,084) | (1,340) |
Payment for restricted stock vesting settled in cash | 0 | (92) |
Proceeds from stock option exercise | 0 | 5 |
Contributions from non-controlling interests | 0 | 13 |
Distributions to non-controlling interests | (50) | (466) |
Net cash used in financing activities | (634) | (1,880) |
NET CHANGE IN CASH AND CASH EQUIVALENTS | (182) | (3,539) |
CASH AND CASH EQUIVALENTS, beginning of period | 4,182 | 8,906 |
CASH AND CASH EQUIVALENTS, end of period | 4,000 | 5,367 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Cash paid for interest | 36 | 5 |
Change in accounts payable attributable to the purchase of property and equipment | $ (31) | $ 158 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Mar. 26, 2024 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | Note 1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Good Times Restaurants Inc. (the “Company”) and its wholly owned subsidiaries as well as one five January 2023 The Company owns a 50% interest in a limited partnership which owns six The Company operates and licenses full-service restaurants under the brand Bad Daddy s Burger Bar The Company operates and franchises drive-thru fast-food hamburger restaurants under the brand Good Times Burgers & Frozen Custard The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles and practices of the United States of America (“GAAP”) for interim financial information. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all of the normal recurring adjustments necessary to present fairly the financial position of the Company as of March 26, 2024 March 26, 2024 March 28, 2023. March 26, 2024 not may September 24, 2024. September 26, 2023 not 10 September 26, 2023. Fiscal Year 52/53 September. 52 13 53 first 14 March 26, 2024 March 28, 2023 13 Reclassification no Advertising Costs two March 26, 2024 March 28, 2023, Receivables third third Receivables consist of the following as of: March 26, 2024 September 26, 2023 Third party delivery partners $ 316 $ 269 Third party retailers 268 291 Vendor rebates and incentives 243 185 Franchise and other 35 24 Total $ 862 $ 769 |
Note 2 - Recent Accounting Pron
Note 2 - Recent Accounting Pronouncements | 6 Months Ended |
Mar. 26, 2024 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Note 2. Recent Accounting Pronouncements ASU 2023 07–Segment 280 November 2023 December 15, 2023, December 15, 2024. 2023 07 2025 not The Company reviewed all other recently issued accounting pronouncements and concluded that they were either not not |
Note 3 - Revenue
Note 3 - Revenue | 6 Months Ended |
Mar. 26, 2024 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 3. Revenue Revenue Recognition. The Company recognizes revenues in the form of restaurant sales at the time of the sale when payment is made by the customer, as the Company has completed its performance obligation, namely the provision of food and beverage, and the accompanying customer service, during the customer’s visit to the restaurant. The Company sells gift cards to customers and recognizes revenue from gift cards primarily in the form of restaurant revenue. Gift card breakage, which is recognized when the likelihood of a gift card being redeemed is remote, is determined based upon the Company’s historic redemption patterns, and is immaterial to our overall financial statements. Late in fiscal 2023, March 26, 2024. Revenues we receive from our franchise and license agreements include sales-based royalties and, from our franchise agreements, may not |
Note 4 - Goodwill and Intangibl
Note 4 - Goodwill and Intangible Assets | 6 Months Ended |
Mar. 26, 2024 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 4. Goodwill and Intangible Assets The following table presents goodwill and intangible assets as of March 26, 2024 September 26, 2023 ( March 26, 2024 September 26, 2023 Gross Accumulated Net Gross Accumulated Net Intangible assets subject to amortization: Non-compete agreements $ 50 $ (22 ) $ 28 $ 50 $ (14 ) $ 36 Reacquired franchise rights $ 15 $ (2 ) $ 13 $ 15 $ - $ 15 $ 65 $ (24 ) $ 41 $ 65 $ (14 ) $ 51 Indefinite-lived intangible assets: Trademarks $ 3,900 $ - $ 3,900 $ 3,900 $ - $ 3,900 Intangible assets, net $ 3,965 $ (24 ) $ 3,941 $ 3,965 $ (14 ) $ 3,951 Goodwill $ 5,713 $ - $ 5,713 $ 5,713 $ - $ 5,713 Intangible assets subject to amortization primarily consist of non-compete agreements associated with prior restaurant purchases. The aggregate amortization expense related to these intangible assets subject to amortization was $10,000 for the two March 26, 2024 two March 28, 2023. March 26, 2024 March 28, 2023, |
Note 5 - Stock-based Compensati
Note 5 - Stock-based Compensation | 6 Months Ended |
Mar. 26, 2024 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | Note 5. Stock-Based Compensation The Company has traditionally maintained incentive compensation plans that include provisions for the issuance of equity-based awards. The Company established the 2008 2008 “2008 2008 2008 2018 2018 “2018 2018 May 24, 2018. 2018 February 8, 2022 2018 2018 Stock-based compensation is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the requisite service period (generally the vesting period of the grant). The Company recognizes the impact of forfeitures as forfeitures occur. For the quarters ended March 26, 2024 March 28, 2023, two March 26, 2024 March 28, 2023 |
Note 6 - Prepaid Expenses and O
Note 6 - Prepaid Expenses and Other Current Assets | 6 Months Ended |
Mar. 26, 2024 | |
Notes to Financial Statements | |
Prepaid Expenses and Other Current Assets [Text Block] | Note 6. Prepaid expenses and other current assets Prepaid expenses and other current assets consist of the following as of: March 26, 2024 September 26, 2023 Prepaid Insurance $ 446 $ - Other 322 163 Total $ 768 $ 163 |
Note 7 - Other Accrued Liabilit
Note 7 - Other Accrued Liabilities | 6 Months Ended |
Mar. 26, 2024 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Note 7. Other Accrued Liabilities Other accrued liabilities consist of the following as of: March 26, 2024 September 26, 2023 Wages and other employee benefits $ 2,882 $ 2,893 Gift card liability, net of breakage 1,576 1,108 Taxes, other than income taxes 1,149 1,275 General expense accrual and other 1,103 1,175 Total $ 6,710 $ 6,451 |
Note 8 - Notes Payable and Long
Note 8 - Notes Payable and Long-term Debt | 6 Months Ended |
Mar. 26, 2024 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 8. Notes Payable and Long-Term Debt Cadence Credit Facility. April 20, 2028 ( may Proceeds from the Cadence Credit Facility, if and when drawn, may The Cadence Credit Facility includes customary affirmative and negative covenants and events of default. The Cadence Credit Facility also requires the Company to maintain various financial condition ratios, including minimum liquidity, an amended maximum leverage ratio and an amended minimum fixed charge coverage ratio. In addition, to the extent the aggregate outstanding balance under the revolver under the Cadence Credit Facility exceeds $4.0 million, the Company is required to meet a new specified leverage ratio, on a pro forma basis, before making further borrowings as well as certain restricted payments, investments and growth capital expenditures. As of the date of filing of this report, the Company was in compliance with each of these covenants under the Cadence Credit Facility. As of March 26, 2024 As a result of entering into the Cadence Credit Facility and the various amendments, the Company paid loan origination costs including professional fees of approximately $299,000 and is amortizing these costs over the term of the credit agreement. As of March 26, 2024, In connection with the Cadence Credit Facility, the Company and the Subsidiaries entered into an Amended and Restated Security and Pledge Agreement (the “Security Agreement”) with Cadence. Under the Security Agreement, the Cadence Credit Facility is secured by a first As of March 26, 2024, September 26, 2028 March 26, 2024, Total interest expense on notes payable was $37,000 and $0 for the quarters ended March 26, 2024 March 28, 2023, |
Note 9 - Earnings Per Common Sh
Note 9 - Earnings Per Common Share | 6 Months Ended |
Mar. 26, 2024 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 9. Earnings per Common Share Our basic earnings per share calculation is computed based on the weighted-average number of common shares outstanding. Our diluted earnings per share calculation is computed based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive securities for this calculation consist of in-the-money outstanding stock options, restricted stock units (which were assumed to have been exercised at the average market price of the common shares during the reporting period). The treasury stock method is used to measure the dilutive impact of in-the-money stock options. The following table reconciles basic weighted-average shares outstanding to diluted weighted-average shares outstanding: Quarter Ended Year-to-Date March 26, 2024 March 28, 2023 March 26, 2024 March 28, 2023 Weighted-average shares outstanding basic 11,136,207 11,818,651 11,256,893 11,930,140 Effect of potentially dilutive securities: Stock options 5,260 13,722 6,449 3,364 Restricted stock units 89,250 51,750 89,250 51,750 Weighted-average shares outstanding diluted 11,230,717 11,884,123 11,352,592 11,985,254 Excluded from diluted weighted average shares outstanding: Antidilutive 383,623 372,575 383,623 385,908 |
Note 10 - Contingent Liabilitie
Note 10 - Contingent Liabilities and Liquidity | 6 Months Ended |
Mar. 26, 2024 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 10. Contingent Liabilities and Liquidity There may may may not March 26, 2024, The Company is the defendant in a lawsuit styled as White Winston Select Asset Funds, LLC and GT Acquisition Group, Inc. v. Good Times Restaurants, Inc., arising from the failed negotiations between plaintiffs and the Company for the sale of the Good Times Drive Thru subsidiary to plaintiffs. The lawsuit was initially filed on September 24, 2019 November 5, 2019. July 30, 2021, April 11, 2022, not May 5, 2022, May 25, 2022, October 24, 2022. January 25, 2023, The plaintiffs filed a notice of appeal of the Court’s January 25, 2023 March 1, 2024, not $3 no may |
Note 11 - Leases
Note 11 - Leases | 6 Months Ended |
Mar. 26, 2024 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 11. Leases The Company determines if a contract contains a lease at inception. The Company’s material long-term operating lease agreements are for the land and buildings for our restaurants as well as our corporate office. The initial lease terms range from 10 years to 20 years, most of which include renewal options of 10 to 15 years. Components of operating lease costs are as follows for the fiscal quarters ended March 26, 2024 March 28, 2023: Lease cost Classification March 26, 2024 March 28, 2023 Operating lease cost Occupancy, Other restaurant operating costs and General and administrative expenses, net $ 1,908 $ 1,853 Variable lease cost Occupancy 10 - Sublease income Occupancy (125 ) (143 ) $ 1,793 $ 1,710 Weighted average lease term and discount rate are as follows: March 26, 2024 March 28, 2023 Weighted average remaining lease term (in years) 7.54 8.24 Weighted average discount rate 5.0 % 5.0 % Supplemental cash flow disclosures: March 26, 2024 March 28, 2023 Cash paid for operating lease liabilities $ 3,865 $ 3,734 Non-cash operating lease assets obtained in exchange for operating lease liabilities $ 452 $ 184 Future minimum rent payments for our operating leases as of March 26, 2024 Total One Year $ 8,299 Two Years 8,094 Three Years 7,706 Four Years 7,291 Five Years 6,067 Thereafter 18,077 Total minimum lease payments 55,534 Less: imputed interest (9,581 ) Present value of lease liabilities $ 45,953 The above future minimum rental amounts exclude the amortization of deferred lease incentives, renewal options that are not |
Note 12 - Impairment of Long-li
Note 12 - Impairment of Long-lived Assets and Trademarks | 6 Months Ended |
Mar. 26, 2024 | |
Notes to Financial Statements | |
Asset Impairment Charges [Text Block] | Note 12. Impairment of Long-Lived Assets and Trademarks Long-Lived Assets. may not There were no asset impairments in the two March 26, 2024. two March 28, 2023, Trademarks. no March 26, 2024 March 28, 2023. |
Note 13 - Income Taxes
Note 13 - Income Taxes | 6 Months Ended |
Mar. 26, 2024 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 13. Income Taxes We account for income taxes using the liability method, whereby deferred tax asset and liability account balances are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable value. The deferred tax assets are reviewed periodically for recoverability and valuation allowances are adjusted as necessary. The Company’s effective income tax rate for the three March 26, 2024 three March 28, 2023. six March 26, 2024 six March 28, 2023. The Company is subject to taxation in various jurisdictions within the United States. The Company continues to remain subject to examination by United States federal authorities for the years 2020 2023. not March 26, 2024. |
Note 14 - Non-controlling Inter
Note 14 - Non-controlling Interests | 6 Months Ended |
Mar. 26, 2024 | |
Notes to Financial Statements | |
Noncontrolling Interest Disclosure [Text Block] | Note 14. Non-Controlling Interests Non-controlling interests are presented as a separate item in the shareholders’ equity section of the condensed consolidated balance sheet. The amount of consolidated net income or loss attributable to non-controlling interests is presented on the face of the condensed consolidated statement of operations. Changes in a parent’s ownership interest in a subsidiary that do not The equity interests of the unrelated limited partners and non-controlling members are shown on the accompanying consolidated balance sheet in the shareholders’ equity section as a non-controlling interest and is adjusted each period to reflect the limited partners’ and non-controlling members’ share of the net income or loss as well as any cash contributions or distributions to or from the limited partners and non-controlling members for the period. The limited partners’ and members’ share of the net income or loss in the subsidiary is shown as income or expense attributable to non-controlling interests in the accompanying consolidated statement of operations. All inter-company accounts and transactions are eliminated. The following table summarizes the activity in non-controlling interests during the two March 26, 2024 ( Total Balance at September 26, 2023 $ 423 Income 135 Distributions (50 ) Balance at March 26, 2024 $ 508 As previously described in Note 1, March 26, 2024 one |
Note 15 - Segment Reporting
Note 15 - Segment Reporting | 6 Months Ended |
Mar. 26, 2024 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 15. Segment Reporting All of our Bad Daddy’s compete in the full-service segment of the restaurant industry while our Good Times compete in the quick-service segment of the restaurant industry. We believe that providing this additional financial information for each of our brands will provide a better understanding of our overall operating results. Income (loss) from operations represents revenues less restaurant operating costs and expenses, directly allocable general and administrative expenses, and other restaurant-level expenses directly associated with each brand including depreciation and amortization, pre-opening costs and losses or gains on disposal of property and equipment. Unallocated corporate capital expenditures are presented below as reconciling items to the amounts presented in the consolidated financial statements. The following tables present information about our reportable segments for the respective periods (in thousands): Quarter Ended Year-to-Date March 26, 2024 March 28, 2023 March 26, 2024 March 28, 2023 Revenues: Bad Daddy’s $ 26,504 $ 26,408 $ 50,697 $ 51,634 Good Times 8,934 8,377 17,873 16,545 $ 35,438 $ 34,785 $ 68,570 $ 68,179 Income (loss) from operations: Bad Daddy’s $ 382 $ 678 $ (381 ) $ 668 Good Times 262 139 651 256 $ 644 $ 817 $ 270 $ 924 Capital expenditures: Bad Daddy’s $ 355 $ 448 $ 487 $ 606 Good Times 277 249 607 975 $ 632 $ 697 $ 1,094 $ 1,581 March 26, 2024 September 26, 2023 Property and equipment, net: Bad Daddy’s $ 18,062 $ 18,053 Good Times 4,165 4,983 $ 22,227 $ 23,036 Total assets: Bad Daddy’s $ 65,652 $ 67,720 Good Times 23,303 23,368 $ 88,955 $ 91,088 |
Note 16 - Subsequent Events
Note 16 - Subsequent Events | 6 Months Ended |
Mar. 26, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 16. Subsequent Events None. |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended | 6 Months Ended |
Mar. 26, 2024 | Mar. 26, 2024 | |
Insider Trading Arr Line Items | ||
Material Terms of Trading Arrangement [Text Block] | ITEM 5. OTHER INFORMATION During the quarter ended March 26, 2024, none 16a 1 1934, 10b5 1 10b5 1 408 1933 | |
Rule 10b5-1 Arrangement Adopted [Flag] | false | |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false | |
Rule 10b5-1 Arrangement Terminated [Flag] | false | |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Tables) | 6 Months Ended |
Mar. 26, 2024 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 26, 2024 September 26, 2023 Third party delivery partners $ 316 $ 269 Third party retailers 268 291 Vendor rebates and incentives 243 185 Franchise and other 35 24 Total $ 862 $ 769 |
Note 4 - Goodwill and Intangi_2
Note 4 - Goodwill and Intangible Assets (Tables) | 6 Months Ended |
Mar. 26, 2024 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | March 26, 2024 September 26, 2023 Gross Accumulated Net Gross Accumulated Net Intangible assets subject to amortization: Non-compete agreements $ 50 $ (22 ) $ 28 $ 50 $ (14 ) $ 36 Reacquired franchise rights $ 15 $ (2 ) $ 13 $ 15 $ - $ 15 $ 65 $ (24 ) $ 41 $ 65 $ (14 ) $ 51 Indefinite-lived intangible assets: Trademarks $ 3,900 $ - $ 3,900 $ 3,900 $ - $ 3,900 Intangible assets, net $ 3,965 $ (24 ) $ 3,941 $ 3,965 $ (14 ) $ 3,951 Goodwill $ 5,713 $ - $ 5,713 $ 5,713 $ - $ 5,713 |
Note 6 - Prepaid Expenses and_2
Note 6 - Prepaid Expenses and Other Current Assets (Tables) | 6 Months Ended |
Mar. 26, 2024 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | March 26, 2024 September 26, 2023 Prepaid Insurance $ 446 $ - Other 322 163 Total $ 768 $ 163 |
Note 7 - Other Accrued Liabil_2
Note 7 - Other Accrued Liabilities (Tables) | 6 Months Ended |
Mar. 26, 2024 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | March 26, 2024 September 26, 2023 Wages and other employee benefits $ 2,882 $ 2,893 Gift card liability, net of breakage 1,576 1,108 Taxes, other than income taxes 1,149 1,275 General expense accrual and other 1,103 1,175 Total $ 6,710 $ 6,451 |
Note 9 - Earnings Per Common _2
Note 9 - Earnings Per Common Share (Tables) | 6 Months Ended |
Mar. 26, 2024 | |
Notes Tables | |
Schedule of Weighted Average Number of Shares [Table Text Block] | Quarter Ended Year-to-Date March 26, 2024 March 28, 2023 March 26, 2024 March 28, 2023 Weighted-average shares outstanding basic 11,136,207 11,818,651 11,256,893 11,930,140 Effect of potentially dilutive securities: Stock options 5,260 13,722 6,449 3,364 Restricted stock units 89,250 51,750 89,250 51,750 Weighted-average shares outstanding diluted 11,230,717 11,884,123 11,352,592 11,985,254 Excluded from diluted weighted average shares outstanding: Antidilutive 383,623 372,575 383,623 385,908 |
Note 11 - Leases (Tables)
Note 11 - Leases (Tables) | 6 Months Ended |
Mar. 26, 2024 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Lease cost Classification March 26, 2024 March 28, 2023 Operating lease cost Occupancy, Other restaurant operating costs and General and administrative expenses, net $ 1,908 $ 1,853 Variable lease cost Occupancy 10 - Sublease income Occupancy (125 ) (143 ) $ 1,793 $ 1,710 |
Schedule of Weighted Average Lease Term and Discount Rate [Table Text Block] | March 26, 2024 March 28, 2023 Weighted average remaining lease term (in years) 7.54 8.24 Weighted average discount rate 5.0 % 5.0 % |
Schedule of Supplemental Cash Flow Information Related to Leases [Table Text Block] | March 26, 2024 March 28, 2023 Cash paid for operating lease liabilities $ 3,865 $ 3,734 Non-cash operating lease assets obtained in exchange for operating lease liabilities $ 452 $ 184 |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Total One Year $ 8,299 Two Years 8,094 Three Years 7,706 Four Years 7,291 Five Years 6,067 Thereafter 18,077 Total minimum lease payments 55,534 Less: imputed interest (9,581 ) Present value of lease liabilities $ 45,953 |
Note 14 - Non-controlling Int_2
Note 14 - Non-controlling Interests (Tables) | 6 Months Ended |
Mar. 26, 2024 | |
Notes Tables | |
Schedule of Activity in Noncontrolling Interests [Table Text Block] | Total Balance at September 26, 2023 $ 423 Income 135 Distributions (50 ) Balance at March 26, 2024 $ 508 |
Note 15 - Segment Reporting (Ta
Note 15 - Segment Reporting (Tables) | 6 Months Ended |
Mar. 26, 2024 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Quarter Ended Year-to-Date March 26, 2024 March 28, 2023 March 26, 2024 March 28, 2023 Revenues: Bad Daddy’s $ 26,504 $ 26,408 $ 50,697 $ 51,634 Good Times 8,934 8,377 17,873 16,545 $ 35,438 $ 34,785 $ 68,570 $ 68,179 Income (loss) from operations: Bad Daddy’s $ 382 $ 678 $ (381 ) $ 668 Good Times 262 139 651 256 $ 644 $ 817 $ 270 $ 924 Capital expenditures: Bad Daddy’s $ 355 $ 448 $ 487 $ 606 Good Times 277 249 607 975 $ 632 $ 697 $ 1,094 $ 1,581 March 26, 2024 September 26, 2023 Property and equipment, net: Bad Daddy’s $ 18,062 $ 18,053 Good Times 4,165 4,983 $ 22,227 $ 23,036 Total assets: Bad Daddy’s $ 65,652 $ 67,720 Good Times 23,303 23,368 $ 88,955 $ 91,088 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation (Details Textual) - USD ($) | 1 Months Ended | 6 Months Ended | |
Jan. 31, 2023 | Mar. 26, 2024 | Mar. 28, 2023 | |
Marketing and Advertising Expense | $ 93,000 | $ 129,000 | |
Five Limited Liability Companies [Member] | |||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 50% |
Note 1 - Basis of Presentatio_3
Note 1 - Basis of Presentation - Receivables (Details) - USD ($) $ in Thousands | Mar. 26, 2024 | Sep. 26, 2023 |
Receivables, Net, Current | $ 862 | $ 769 |
Third Party Delivery Receivables [Member] | ||
Receivables, Net, Current | 316 | 269 |
Third Party Retailers Receivables [Member] | ||
Receivables, Net, Current | 268 | 291 |
Rebate Receivables [Member] | ||
Receivables, Net, Current | 243 | 185 |
Franchise and Other Receivables [Member] | ||
Receivables, Net, Current | $ 35 | $ 24 |
Note 4 - Goodwill and Intangi_3
Note 4 - Goodwill and Intangible Assets (Details Textual) - USD ($) | 6 Months Ended | ||
Mar. 26, 2024 | Mar. 28, 2023 | Sep. 26, 2023 | |
Amortization of Intangible Assets | $ 10,000 | $ 9,000 | |
Goodwill | 5,713,000 | $ 5,713,000 | |
Goodwill, Impairment Loss | 0 | 0 | |
Good Times Restaurants [Member] | |||
Goodwill | 96,000 | 96,000 | |
Bad Daddy’s Restaurants [Member] | |||
Goodwill | $ 5,617,000 | $ 5,617,000 |
Note 4 - Goodwill and Intangi_4
Note 4 - Goodwill and Intangible Assets - Schedule of Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 26, 2024 | Sep. 26, 2023 |
Intangible assets subject to amortization, gross | $ 65 | $ 65 |
iIntangible assets, accumulated amortization | (24) | (14) |
Intangible assets subject to amortization, net | 41 | 51 |
Intangible assets, gross | 3,965 | 3,965 |
Intangible assets, net | 3,941 | 3,951 |
Goodwill, gross | 5,713 | 5,713 |
Goodwill, accumulated amortization | 0 | 0 |
Goodwill | 5,713 | 5,713 |
Trademarks [Member] | ||
Indefinite-lived intangible assets | 3,900 | 3,900 |
Noncompete Agreements [Member] | ||
Intangible assets subject to amortization, gross | 50 | 50 |
iIntangible assets, accumulated amortization | (22) | (14) |
Intangible assets subject to amortization, net | 28 | 36 |
Reacquired Franchise Rights [Member] | ||
Intangible assets subject to amortization, gross | 15 | 15 |
iIntangible assets, accumulated amortization | (2) | 0 |
Intangible assets subject to amortization, net | $ 13 | $ 15 |
Note 5 - Stock-based Compensa_2
Note 5 - Stock-based Compensation (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Mar. 26, 2024 | Mar. 28, 2023 | Mar. 26, 2024 | Mar. 28, 2023 | Feb. 08, 2022 | May 24, 2018 | |
Share-Based Payment Arrangement, Expense | $ 40,000 | $ 43,000 | $ 78,000 | $ 89,000 | ||
The 2018 Omnibus Equity Incentive Plan [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 1,050,000 | 900,000 |
Note 6 - Prepaid Expenses and_3
Note 6 - Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Mar. 26, 2024 | Sep. 26, 2023 |
Prepaid Insurance | $ 446 | $ 0 |
Other | 322 | 163 |
Total | $ 768 | $ 163 |
Note 7 - Other Accrued Liabil_3
Note 7 - Other Accrued Liabilities - Schedule of Other Accrued Liabilities (Details) - USD ($) $ in Thousands | Mar. 26, 2024 | Sep. 26, 2023 |
Wages and other employee benefits | $ 2,882 | $ 2,893 |
Gift card liability, net of breakage | 1,576 | 1,108 |
Taxes, other than income taxes | 1,149 | 1,275 |
General expense accrual and other | 1,103 | 1,175 |
Total | $ 6,710 | $ 6,451 |
Note 8 - Notes Payable and Lo_2
Note 8 - Notes Payable and Long-term Debt (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |
Mar. 26, 2024 | Mar. 28, 2023 | Mar. 26, 2024 | |
Interest Expense, Debt | $ 37,000 | $ 0 | |
Cadence Bank [Member] | Revolving Credit Facility [Member] | Prior Cadence Credit Facility [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 8,000,000 | $ 8,000,000 | |
Line of Credit Facility, Commitment Fee Percentage | 0.25% | ||
Cadence Bank [Member] | Revolving Credit Facility [Member] | Senior Credit Facility [Member] | |||
Debt Instrument, Covenant, Minimum Outstanding Balance for New Specified Leverage Ratio | $ 4,000,000 | $ 4,000,000 | |
Debt, Weighted Average Interest Rate | 8.42% | 8.42% | |
Payments of Financing Costs | $ 299,000 | ||
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $ 109,000 | 109,000 | |
Long-Term Line of Credit | 1,250,000 | 1,250,000 | |
Letters of Credit Outstanding, Amount | 10,000 | 10,000 | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 6,740,000 | $ 6,740,000 |
Note 9 - Earnings Per Common _3
Note 9 - Earnings Per Common Share - Reconciliation of Basic to Diluted Weighted Average Shares Outstanding (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Mar. 26, 2024 | Mar. 28, 2023 | Mar. 26, 2024 | Mar. 28, 2023 | |
Basic (in shares) | 11,136,207 | 11,818,651 | 11,256,893 | 11,930,140 |
Weighted-average shares outstanding diluted (in shares) | 11,230,717 | 11,884,123 | 11,352,592 | 11,985,254 |
Antidilutive (in shares) | 383,623 | 372,575 | 383,623 | 385,908 |
Share-Based Payment Arrangement, Option [Member] | ||||
Effect of potentially dilutive securities (in shares) | 5,260 | 13,722 | 6,449 | 3,364 |
Restricted Stock Units (RSUs) [Member] | ||||
Effect of potentially dilutive securities (in shares) | 89,250 | 51,750 | 89,250 | 51,750 |
Note 10 - Contingent Liabilit_2
Note 10 - Contingent Liabilities and Liquidity (Details Textual) - USD ($) | 3 Months Ended | ||
Jul. 30, 2021 | Mar. 26, 2024 | Mar. 28, 2022 | |
Loss Contingency Accrual, Provision | $ 235,000 | ||
Loss Contingency, Damages Sought, Value | $ 18,000,000 | ||
Loss Contingency Accrual | $ 332,000 |
Note 11 - Leases (Details Textu
Note 11 - Leases (Details Textual) | Mar. 26, 2024 |
Minimum [Member] | |
Lessee, Operating Lease, Term of Contract (Year) | 10 years |
Lessee, Operating Lease, Renewal Term (Year) | 10 years |
Maximum [Member] | |
Lessee, Operating Lease, Term of Contract (Year) | 20 years |
Lessee, Operating Lease, Renewal Term (Year) | 15 years |
Note 11 - Leases - Components o
Note 11 - Leases - Components of Operating Lease Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 26, 2024 | Mar. 28, 2023 | |
Operating lease cost | $ 1,908 | $ 1,853 |
Variable lease cost | 10 | 0 |
Sublease income | (125) | (143) |
Lease, Cost | $ 1,793 | $ 1,710 |
Note 11 - Leases - Weighted Ave
Note 11 - Leases - Weighted Average Lease Term and Discount Rate (Details) | Mar. 26, 2024 | Mar. 28, 2023 |
Weighted average remaining lease term (in years) (Year) | 7 years 6 months 14 days | 8 years 2 months 26 days |
Weighted average discount rate | 5% | 5% |
Note 11 - Leases - Supplemental
Note 11 - Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 26, 2024 | Mar. 28, 2023 | |
Cash paid for operating lease liabilities | $ 3,865 | $ 3,734 |
Non-cash operating lease assets obtained in exchange for operating lease liabilities | $ 452 | $ 184 |
Note 11 - Leases - Future Minim
Note 11 - Leases - Future Minimum Rent Payments (Details) $ in Thousands | Mar. 26, 2024 USD ($) |
One Year | $ 8,299 |
Two Years | 8,094 |
Three Years | 7,706 |
Four Years | 7,291 |
Five Years | 6,067 |
Thereafter | 18,077 |
Total minimum lease payments | 55,534 |
Less: imputed interest | (9,581) |
Present value of lease liabilities | $ 45,953 |
Note 12 - Impairment of Long-_2
Note 12 - Impairment of Long-lived Assets and Trademarks (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 26, 2024 | Mar. 28, 2023 | Mar. 26, 2024 | Mar. 28, 2023 | |
Impairment, Long-Lived Asset, Held-for-Use | $ 0 | $ 76,000 | $ 0 | $ 76,000 |
Trademarks [Member] | ||||
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill) | 0 | 0 | ||
Restaurant Assets [Member] | ||||
Impairment, Long-Lived Asset, Held-for-Use | $ 76,000 | $ 0 |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 26, 2024 | Mar. 28, 2023 | Mar. 26, 2024 | Mar. 28, 2023 | |
Effective Income Tax Rate Reconciliation, Percent | 12.82% | 1,487% | 1.83% | 1,836% |
Open Tax Year | 2020 2021 2022 2023 | |||
Unrecognized Tax Benefits | $ 0 | $ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $ 0 | $ 0 |
Note 14 - Non-controlling Int_3
Note 14 - Non-controlling Interests (Details Textual) - Good Times Restaurants [Member] | Mar. 26, 2024 |
Number of Restaurants | 6 |
Subsidiary, Ownership Percentage, Parent | 50% |
Note 14 - Non-controlling Int_4
Note 14 - Non-controlling Interests - Summary of Activity in Non-controlling Interests (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Mar. 26, 2024 | Dec. 26, 2023 | Mar. 28, 2023 | Dec. 27, 2022 | Mar. 26, 2024 | |
Balance | $ 423 | $ 423 | |||
Distributions | $ (21) | (29) | $ (294) | $ (172) | |
Balance | 508 | 508 | |||
Bad Daddy’s Restaurants [Member] | |||||
Balance | $ 423 | 423 | |||
Income | 135 | ||||
Distributions | (50) | ||||
Balance | $ 508 | $ 508 |
Note 15 - Segment Reporting - I
Note 15 - Segment Reporting - Information About Reportable Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Mar. 26, 2024 | Mar. 28, 2023 | Mar. 26, 2024 | Mar. 28, 2023 | Sep. 26, 2023 | Sep. 23, 2023 | |
Revenues | $ 35,438 | $ 34,785 | $ 68,570 | $ 68,179 | ||
(Loss) Income from operation | 644 | 817 | 270 | 924 | ||
Capital expenditures | 632 | 697 | 1,094 | 1,581 | ||
Property and equipment, net | 22,227 | 22,227 | $ 23,036 | $ 23,036 | ||
Total Assets | 88,955 | 88,955 | $ 91,088 | 91,088 | ||
Bad Daddy’s Restaurants [Member] | ||||||
Revenues | 26,504 | 26,408 | 50,697 | 51,634 | ||
(Loss) Income from operation | 382 | 678 | (381) | 668 | ||
Capital expenditures | 355 | 448 | 487 | 606 | ||
Property and equipment, net | 18,062 | 18,062 | 18,053 | |||
Total Assets | 65,652 | 65,652 | 67,720 | |||
Good Times Restaurants [Member] | ||||||
Revenues | 8,934 | 8,377 | 17,873 | 16,545 | ||
(Loss) Income from operation | 262 | 139 | 651 | 256 | ||
Capital expenditures | 277 | $ 249 | 607 | $ 975 | ||
Property and equipment, net | 4,165 | 4,165 | 4,983 | |||
Total Assets | $ 23,303 | $ 23,303 | $ 23,368 |