Q3 2025 Financial Performance - System-wide sales decreased by 55%[7] - Same-store sales declined by 35%[7] - Total revenue was $1400 million[7] compared to $1434 million in Q3 2024[10] - Adjusted EBITDA was $131 million[7] compared to $141 million in Q3 2024[10] - Net loss attributable to FAT Brands Inc was $(58219) thousand[21] compared to $(44755) thousand in Q3 2024[21] Store Development - 13 new stores opened in Q3 2025[7] Strategic Focus - The company aims to accelerate the build-out of a 1,000+ unit new store pipeline[13] - The company plans to grow factory production to utilize ~55% excess capacity[13] - The company intends to re-franchise Fazoli's 57 company-owned restaurants[13] Non-GAAP Measures - Adjusted net loss was $(45437) thousand[24] compared to $(38017) thousand in Q3 2024[24]

Financial Performance - Total revenue decreased by 2.3% to $140.0 million compared to $143.4 million in Q3 2024[5] - Net loss was $58.2 million, or $3.39 per diluted share, compared to a net loss of $44.8 million, or $2.74 per diluted share in Q3 2024[5] - Adjusted EBITDA was $13.1 million, down from $14.1 million in Q3 2024[5] - System-wide sales declined by 5.5%[5] - Total revenue for the thirteen weeks ended September 28, 2025, was $140,009,000, a decrease of 2.4% from $143,365,000 in the same period of 2024[26] - Net loss attributable to FAT Brands Inc. for the thirteen weeks ended September 28, 2025, was $58,219,000, compared to a net loss of $44,755,000 in the prior year, representing a 30.1% increase in loss[28] - Adjusted EBITDA for the thirty-nine weeks ended September 28, 2025, was $39,881,000, down from $48,012,000 in the same period of 2024, reflecting a decrease of 16.5%[27] - Restaurant sales for the thirty-nine weeks ended September 28, 2025, were $298,446,000, down 4.5% from $312,587,000 in the same period of 2024[26] - Basic and diluted loss per common share for the thirteen weeks ended September 28, 2025, was $3.39, compared to $2.74 in the prior year, indicating a 23.7% increase in loss per share[28] - Total costs and expenses for the thirteen weeks ended September 28, 2025, were $157,375,000, an increase of 3.6% from $152,198,000 in the same period of 2024[26] - Interest expense for the thirteen weeks ended September 28, 2025, was $37,101,000, compared to $31,109,000 in the same period of 2024, reflecting an increase of 19.2%[27] - Adjusted net loss for the thirty-nine weeks ended September 28, 2025, was $133,127,000, compared to $101,820,000 in the same period of 2024, representing a 30.5% increase[28] - Cash dividends declared per common share were $0.14 in the prior year, with no dividends declared for the current period[28] Operational Highlights - Same-store sales growth in the casual dining segment was 3.9%[4] - The company opened 60 new restaurants year-to-date, with 13 new store openings in Q3 2025[4][5] - Approximately 900 committed locations are expected to contribute $50-$60 million in incremental EBITDA once fully operational[4] - The partnership with Virtual Dining Concepts aims to expand Great American Cookies availability from Chuck E. Cheese locations nationwide[4] Expenses and Financial Strategy - General and administrative expenses increased by 23.7% to $42.7 million, primarily due to store closure costs[8] - General and administrative expenses increased to $42,665,000 for the thirteen weeks ended September 28, 2025, up from $34,481,000 in the same period of 2024, marking a 23.7% rise[26] - The company is negotiating a debt restructuring and plans a $75-$100 million equity raise to pay down debt[4]

Core Insights - FAT Brands reported strong results in the third quarter of fiscal 2025, with a notable same-store sales growth of 3.9% in the casual dining segment, marking the best performance of the year to date [3] - The company opened 60 new restaurants in 2025 and has approximately 900 committed locations expected to contribute $50-$60 million in incremental EBITDA once fully operational [3] - A strategic partnership with Virtual Dining Concepts aims to enhance manufacturing growth by making Great American Cookies available from Chuck E. Cheese locations nationwide [3] Financial Performance - Total revenue decreased by $3.4 million, or 2.3%, to $140.0 million compared to $143.4 million in the same quarter of the previous year, primarily due to the closure of 11 underperforming Smokey Bones locations [6][7] - System-wide sales declined by 5.5%, and same-store sales decreased by 3.5% [7] - The net loss for the quarter was $58.2 million, or $3.39 per diluted share, compared to a net loss of $44.8 million, or $2.74 per diluted share, in the same quarter of the previous year [7][11] Cost and Expenses - General and administrative expenses increased by $8.2 million, or 23.7%, to $42.7 million, primarily due to costs associated with the closure of Smokey Bones locations and higher non-cash share-based compensation [8] - Advertising expenses rose by $2.1 million to $12.2 million compared to the prior year [10] - Total costs and expenses for the quarter were $157.4 million, compared to $152.2 million in the same quarter of the previous year [26] Strategic Initiatives - The company is negotiating a debt restructuring with noteholders and plans a $75-$100 million equity raise at Twin Hospitality Group Inc. to pay down debt and fund new unit development [3] - The pause on dividends is expected to preserve $35-$40 million in annual cash flow [3] - The company is advancing plans for approximately 50 additional co-branded locations, indicating significant potential for this format [3]

Core Points - FAT Brands Inc. is offering complimentary meals and discounts to veterans and active-duty military personnel across five of its restaurant chains to honor their service [1][5] - The participating restaurant chains include Buffalo's Cafe, Fazoli's, Hurricane Grill & Wings, Native Grill & Wings, and Round Table Pizza [1] Summary by Category Discounts and Offers - **Buffalo's Cafe**: 25% off meals for veterans and active-duty military when dining in, excluding alcohol, with military ID or uniform required [2] - **Fazoli's**: Free Spaghetti with Marinara or Meat Sauce for veterans and active-duty military when dining in using code VET25, with military ID or uniform required [2] - **Hurricane Grill & Wings**: Complimentary entree options include 10 Bone-In Wings, Beer-Battered Fish & Chips, Steakburger, Chicken Caesar Salad, Buttermilk Crispy Chicken Sandwich, and Chicken BLT Tacos, with military ID or uniform required [3] - **Native Grill & Wings**: Options include a ½ LB Stripper Combo, ½ LB Boneless Combo, Native Chicken Sandwich with fries, or MyNative Burger with fries, with military ID or uniform required [4] - **Round Table Pizza**: 15% off orders with code RTP321 from Nov. 7 to Nov. 14, valid for dine-in, carry-out, and delivery [4] Company Overview - FAT Brands is a leading global franchising company that owns and operates 18 restaurant brands, including Round Table Pizza, Fatburger, and Johnny Rockets, with over 2,300 units worldwide [5]

Core Viewpoint - FAT Brands Inc. will host a conference call to discuss its third quarter 2025 financial results on November 5, 2025, at 4:30 PM ET, with a press release to be issued beforehand [1] Group 1: Conference Call Details - The conference call can be accessed by dialing 1-877-704-4453 from the U.S. or 1-201-389-0920 internationally, with a replay available until November 26, 2025 [2] - The call will be hosted by CEO Andy Wiederhorn and CFO Ken Kuick [2] - The conference call will also be available via live webcast on the corporate website, with a replay accessible shortly after the call [3] Group 2: Company Overview - FAT Brands is a leading global franchising company that owns and operates 18 restaurant brands, including Round Table Pizza, Fatburger, and Johnny Rockets, among others [4] - The company franchises and owns over 2,300 restaurant units worldwide [4]

Core Insights - Fatburger, owned by FAT Brands Inc., is collaborating with Impossible Foods to celebrate World Vegan Month with a Buy-One-Get-One FREE Impossible Burger promotion throughout November 2025 [1] - The partnership includes the launch of the White Tee Challenge, an interactive event where participants can enjoy a free Impossible Burger and showcase their creativity with various sauces [2][3] Company Overview - FAT Brands is a global franchising company that owns and operates 18 restaurant brands, including Fatburger, and has over 2,300 units worldwide [4] - Fatburger has a legacy of over 70 years, known for its customizable, high-quality burgers and a loyal customer base that includes celebrities [5]

Core Insights - FAT Brands Inc. is expanding its presence in Mississippi with the opening of a new Great American Cookies location in Hattiesburg, marking the first store in the city and increasing the total to 10 locations in the state [2][3] Company Overview - FAT Brands is a global franchising company that owns and operates 18 restaurant brands, including Great American Cookies, and has over 2,300 units worldwide [5] - Great American Cookies, founded in 1977, is known for its Original Cookie Cake and a variety of baked goods, including chocolate chip cookies, brownies, and Double Doozies [6] Location Details - The new Great American Cookies store is located at 1000 Turtle Creek Drive, Suite 270, Hattiesburg, MS 39402, and operates Monday to Saturday from 10:00 a.m. to 8:00 p.m., and Sunday from 12:00 p.m. to 6:00 p.m [4]

Core Points - Fazoli's is celebrating National Breadstick Day by offering six free breadsticks with any purchase from October 27 to November 1, using code BREADSTICK25 [1][3] - The chain is also providing a free Kids Meal with any entrée purchase from October 30 to November 2, using code TRICKORTREAT25, aimed at encouraging family dining [2][3] - Fazoli's has been committed to serving quality Italian food since its founding in 1988, emphasizing fast, fresh, and friendly service [3][6] Company Overview - Fazoli's is the largest QSR Italian chain in America, operating over 200 restaurants across 26 states [6] - The company is known for its unlimited signature breadsticks and a menu that includes freshly prepared pasta entrees, sub sandwiches, salads, pizza, and desserts [6] - Fazoli's is owned by FAT Brands, which is a global franchising company that manages 18 restaurant brands and over 2,300 units worldwide [5][6]

Core Insights - FAT Brands Inc. plans to open 10 co-branded Great American Cookies and Marble Slab Creamery stores in Iraq over the next five years in partnership with Eric Wilson, a U.S. military veteran [1][2] Company Overview - FAT Brands is a leading global franchising company that owns 18 restaurant brands and operates over 2,300 units worldwide [4] - The company has a strong presence in Iraq with seven locations to date and aims to expand further due to increased demand for American brands [2] Brand Highlights - Great American Cookies, founded in 1977, is known for its Original Cookie Cake and chocolate chip cookie recipe, offering a variety of baked goods including brownies and Double Doozies [2][5] - Marble Slab Creamery has been innovating in the ice cream sector since 1983, known for its frozen slab technique and offering homemade, small-batch ice cream with free mix-ins [3][6]

Core Points - FAT Brands Inc. is involved in derivative lawsuits concerning alleged breaches of fiduciary duties by its former Board members and controlling stockholders [5][10][19] - A proposed settlement has been reached, which includes a cash payment and corporate governance reforms [30][31][42] Group 1: Background of the Actions - The lawsuits were initiated by stockholders James Harris and the Estate of Adam Christopher Vignola against former Board members and controlling stockholders of FAT [5][10] - The allegations include misuse of corporate assets and unfair transactions, particularly related to a merger with Fog Cutter Capital Group and a recapitalization transaction [9][19][43] Group 2: Settlement Details - The settlement includes a cash payment of $10 million and the surrender of 200,000 shares of Twin Hospitality Group, Inc. Class A Common stock to FAT [30][31] - Corporate governance reforms will be implemented, including the establishment of a Related Party Transactions Committee and amendments to the Corporate Governance Guidelines [31][33] Group 3: Legal Proceedings - The Court has scheduled a Settlement Hearing for December 17, 2025, to consider the fairness and adequacy of the proposed settlement [46] - The settlement aims to resolve ongoing litigation and provide benefits directly to FAT and its stockholders [29][42]