BurgerFi International Inc (BFI) Financial Statements (2023 and earlier)

Company Profile

Business Address 200 WEST CYPRESS CREEK ROAD
FORT LAUDERDALE, FL 33309
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 5812 - Eating Places (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)
Annual | Quarterly

12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments11,91714,88936,72018206
Cash and cash equivalents11,91714,88936,72018206
Restricted cash and investments  3,663  
Receivables1,7661,689933  
Inventory, net of allowances, customer advances and progress billings1,3201,387268  
Inventory1,3201,387268  
Prepaid expense   1089
Asset, held-for-sale, not part of disposal group732732732  
Other current assets2,7242,5261,607  
Other undisclosed current assets  49867 
Total current assets:18,45921,22344,42195295
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization852   ✕
Operating lease, right-of-use asset45,741   ✕
Property, plant and equipment 29,0358,004  
Long-term investments and receivables  74  
Due from related parties  74  
Intangible assets, net (including goodwill)191,829266,723236,366  
Goodwill31,62198,000119,542  
Intangible assets, net (excluding goodwill)160,208168,723116,824  
Asset, held-in-trust   94,541117,740
Deferred income tax assets   52✕
Other noncurrent assets1,380738251  
Other undisclosed noncurrent assets18,519    
Total noncurrent assets:258,321296,496244,69594,594117,740
TOTAL ASSETS:276,780317,719289,11694,689118,035
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:19,05313,1433,053330256
Taxes payable✕ 172 15
Accounts payable8,4647,8411,678  
Accrued liabilities10,5895,3021,203  
Other undisclosed accounts payable and accrued liabilities   330241
Deferred revenue84468  ✕
Debt4,9853,3314,450  
Other liabilities6,2416,481   
Other undisclosed current liabilities9,8409071,6555615
Total current liabilities:40,20324,3309,158386271
Noncurrent Liabilities
Long-term debt and lease obligation, including:53,794 1,522  
Long-term debt, excluding current maturities  1,522  
Finance lease, liability783   ✕
Other undisclosed long-term debt and lease obligation53,011    
Liabilities, other than long-term debt103,64160,61129  
Deferred revenue 2,109  ✕
Deferred rent credit 90029  
Deferred income tax liabilities1,2231,353  ✕
Financial instruments subject to mandatory redemption, settlement terms, share value, amount51,41847,525   
Due to related parties9,2358,724   
Other liabilities1,017    
Operating lease, liability40,748   ✕
Other undisclosed noncurrent liabilities19559,50319,3321,351 
Total noncurrent liabilities:157,630120,11420,8831,351 
Total liabilities:197,833144,44430,0411,736271
Temporary equity, carrying amount   87,952112,764
Equity
Equity, attributable to parent, including:78,947173,275259,0755,0005,000
Common stock22200
Additional paid in capital306,096296,992261,2982,8173,979
Retained earnings (accumulated deficit)(227,151)(123,719)(2,225)2,1821,021
Warrants and rights outstanding1952,706   
Other undisclosed equity, attributable to parent(195)(2,706)   
Total equity:78,947173,275259,0755,0005,000
TOTAL LIABILITIES AND EQUITY:276,780317,719289,11694,689118,035

Income Statement (P&L) ($ in thousands)
Annual | Quarterly

12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues178,72068,8671,704  
Cost of revenue   (840)(554)
Gross profit:178,72068,8671,704(840)(554)
Operating expenses(79,682)(204,501)(3,104)  
Other undisclosed operating loss(199,092)    
Operating loss:(100,054)(135,634)(1,400)(840)(554)
Nonoperating income   2,4181,852
Investment income, nonoperating   2,4091,871
Interest and debt expense(8,659)(1,406)785  
Other undisclosed income from continuing operations before equity method investments, income taxes  5,597  
Income (loss) from continuing operations before equity method investments, income taxes:(108,713)(137,040)4,9821,5781,298
Other undisclosed income from continuing operations before income taxes5,18615,858   
Income (loss) from continuing operations before income taxes:(103,527)(121,182)4,9821,5781,298
Income tax expense (benefit)95(312)366(416)(277)
Income (loss) from continuing operations:(103,432)(121,494)5,3481,1621,022
Income (loss) before gain (loss) on sale of properties:✕(121,494)5,3481,1621,022
Net income (loss) attributable to parent:(103,432)(121,494)5,3481,1621,022
Preferred stock dividends and other adjustments   1,675(1,607)
Other undisclosed net loss available to common stockholders, basic   (3,350) 
Net income (loss) available to common stockholders, basic:(103,432)(121,494)5,348(513)(586)
Other undisclosed net loss available to common stockholders, diluted (12,619)(254,348)  
Net loss available to common stockholders, diluted:(103,432)(134,113)(249,000)(513)(586)

Comprehensive Income ($ in thousands)
Annual | Quarterly

12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):(103,432)(121,494)5,3481,1621,022
Comprehensive income (loss), net of tax, attributable to parent:(103,432)(121,494)5,3481,1621,022

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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