Financial Performance - Total revenue increased by 311% to $44.9 million in Q1 2022, compared to $10.9 million in Q1 2021[7] - BurgerFi systemwide sales increased by 2% to $40.5 million in Q1 2022, compared to $39.8 million in Q1 2021[7] - Anthony's revenue increased by 13% to $32.5 million in Q1 2022[7] - Adjusted EBITDA increased by 213% to $2.3 million in Q1 2022, compared to $0.7 million in Q1 2021[7] - Net loss was $13.6 million in Q1 2022, compared to a net loss of $8.2 million in Q1 2021[7] Sales Metrics - BurgerFi systemwide same store sales decreased by 5%[7] - Anthony's same store sales increased by 13%[7] - Digital channel accounted for 36% of BurgerFi systemwide sales[8] Restaurant Operations - BurgerFi opened six new locations in Q1 2022, with 3 corporate-owned and 3 franchised[7] - Corporate-owned restaurant sales grew by 20%, but corporate-owned restaurant same store sales decreased by 8%[8] - Franchise restaurant sales grew by 4%, but franchise restaurant same store sales decreased by 5%[8] 2022 Outlook - The company projects annual revenues of $180-$190 million[16] - The company anticipates mid-single digit same-store sales growth[16] - The company expects 15-20 new restaurant openings, mostly franchised locations[16] - The company forecasts Adjusted EBITDA of $12-$14 million[16] - Capital expenditures are expected to be approximately $3-$4 million[16]
BurgerFi(BFI) - 2022 Q1 - Earnings Call Presentation