The better burger concept announces a savory new offering starting Jan. 23 FORT LAUDERDALE, Fla., Jan. 23, 2024 /PRNewswire/ -- Join us in a chorus of "Yes, Chef!" as BurgerFi®, the maestro of better burgers owned by BurgerFi International, Inc., introduces the Yes, Chef Burger. Guests will savor the simplicity of this viral savory sensation inspired by a scene from the movie "The Menu," starting on Tuesday, January 23, 2024. "We're embracing one of the most beloved catchphrases of recent pop culture trends ...

BurgerFi International, Inc. (NASDAQ:BFI) Q3 2023 Earnings Conference Call November 15, 2023 8:30 AM ET Company Participants Carl Bachmann - Chief Executive Officer Chris Jones - Chief Financial Officer Conference Call Participants Peter Saleh - BTIG Mike Albanese - EF Hutton Operator Good morning, everyone, and thank you for participating in today's conference call to discuss BurgerFi International's financial results for the third quarter ended October 3, 2023. Joining us today are Carl Bachmann, CEO; and ...

During the quarter ended October 2, 2023, the Company recognized $0.1 million in gain on sale of assets in other income, net on our consolidated statements of operations from the sale of a liquor license intangible asset for one of our closed Anthony's locations with a book value of $0.8 million and classified as assets held for sale in a prior period. Other Current Liabilities The Company incurs liabilities associated with the sale of gift cards and gift certificates. As of October 2, 2023 and January 2, 2 ...

Financial Data and Key Metrics Changes - Total revenues for the second quarter were $43.4 million, a decrease of 4% from $45.3 million in the same quarter last year [40] - The net loss for the second quarter was $6 million, compared to a net loss of $60.4 million in the prior year [49] - Adjusted EBITDA was $2 million in the second quarter, down from $2.6 million in the previous year [50] - Restaurant level profit margin decreased by 50 basis points year-over-year to 13.8% [41] Business Line Data and Key Metrics Changes - BurgerFi corporate-owned restaurant sales decreased by 12% to $8.9 million, reflecting a decline in same-store sales [42] - System-wide sales for BurgerFi decreased by 9% to $38.8 million compared to $42.5 million in the year-ago quarter [42] - Anthony's restaurant sales were $31.9 million, a slight increase from $31.8 million in the prior year, driven by a 1% increase in same-store sales [102] Market Data and Key Metrics Changes - BurgerFi system-wide same-store sales decreased by 10% for the second quarter compared to the same period in 2022 [43] - Corporate-owned BurgerFi same-store sales decreased by 15%, while franchise restaurant same-store sales decreased by 8% [43] Company Strategy and Development Direction - The company plans to focus on robust manager development at the restaurant level to improve performance and turnover [7] - Five strategic priorities have been identified, including infrastructure, taste and quality, portfolio definition, establishing Gold Standards, and intentional marketing efforts [16][22][23][24] - The company aims to expand its footprint, particularly along the East Coast, and is looking for well-capitalized franchisees with restaurant experience [101][37] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges faced by both brands are not new to the industry, but believes improvements will begin to manifest [95] - There is optimism about improving labor productivity and addressing menu gaps, particularly in chicken offerings and French fries [56][70] - Management expects to see sequential improvement in same-store sales and is optimistic about the upcoming seasonal uplift in the South [64][104] Other Important Information - The company is maintaining its 2023 guidance, expecting total revenue of $175 million to $180 million and adjusted EBITDA of $10 million to $12 million [52] - The company has opened three new franchise BurgerFi restaurants in the second quarter, with a total of five year-to-date [29] Q&A Session Summary Question: Are you seeing potential green shoots of a turnaround? - Management believes there are signs of improvement in both top-line and cost perspectives, with same-store sales improving recently [64] Question: What are the low-hanging fruit opportunities on the cost side? - Management sees opportunities in improving food cost analytics and reducing food waste through better ordering practices [56] Question: Can you provide context on guidance and same-store sales moving forward? - Management indicates that guidance is based on a combination of same-store sales and new store openings, with expectations for sequential improvement [61] Question: Are there regional differences in performance? - Management notes that northern restaurants are currently outperforming southern ones, indicating a normalization of customer patterns [82] Question: What menu gaps have been identified? - Management highlights the need for new chicken offerings and improvements to French fries, which have received negative feedback [100][70]

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 ...

BurgerFi International, Inc. (NASDAQ:BFI) Q1 2023 Earnings Conference Call May 16, 2023 4:30 PM ET Company Participants John Iannucci - Chief Operating Officer Michael Rabinovitch - Chief Financial Officer Conference Call Participants Peter Saleh - BTIG Mike Albanese - EF Hutton Lynn Orenstein - Drexel Hamilton Operator Good afternoon, everyone, and thank you for participating in today's Conference Call to discuss BurgerFi International's Financial Results for the First Quarter ended April 3, 2023. Joining ...

® BURGERFI First Quarter 2023 Earnings Supplement May 16, 2023 NASDAQ CONGRATULA BURGERFI FOR ITS ACQUISIT ANTHONY'S COAL FIRED PIZZA & WINGS BFI | Nasdaq Listed Nasdag Forward Looking Statements This presentation may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995, including statements relating to BurgerFi's estimates of its future business outlook, liquidity, prospects or financial results, long-term opportunities, executing on growth strategies, lau ...

UNITED STATES FORM 10-Q ________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 3, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-38417 (954) 618-2000 (Registrant's telephone number, including area code) (Former name, former address and former f ...

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, (2) 75,000 shares of common stock and warrants to purchase 75,000 shares of common stock in the unit purchase option, (3) 1,495,600 shares of restricted stock unit grants in the calculation of income per share, and (4) the impact of any dividends associated with i ...

Ian Baines - CEO Michael Rabinovitch - SVP, CFO & Principal Financial and Accounting Officer Hello, and welcome to the BurgerFi International, Inc. 4Q '22 Earnings Conference Call. [Operator Instructions]. Thank you for joining us today, and we appreciate your continued interest in BurgerFi. Let me begin by thanking our entire team, franchisees and their employees for their dedication and hard work in this challenging environment. My plan is to first recap our fiscal year and fourth quarter performance and ...