BurgerFi International Inc. (BFI) Financial Statements (2025 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)
| 3/31/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 7,556 | 11,917 | 14,889 | 36,720 | 18 | 206 | |||
| Cash and cash equivalent | 7,556 | 11,917 | 14,889 | 36,720 | 18 | 206 | |||
| Restricted cash and investments | 3,663 | ||||||||
| Receivables | 1,368 | 1,766 | 1,689 | 933 | |||||
| Inventory, net of allowances, customer advances and progress billings | 1,190 | 1,320 | 1,387 | 268 | |||||
| Inventory | 1,190 | 1,320 | 1,387 | 268 | |||||
| Prepaid expense | 10 | 89 | |||||||
| Asset, held-for-sale, not part of disposal group | 732 | 732 | 732 | 732 | |||||
| Other current assets | 2,724 | 2,526 | 1,607 | ||||||
| Other undisclosed current assets | 1,654 | 498 | 67 | ||||||
| Total current assets: | 12,500 | 18,459 | 21,223 | 44,421 | 95 | 295 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 1,116 | 852 | ✕ | ||||||
| Operating lease, right-of-use asset | 46,052 | 45,741 | ✕ | ||||||
| Property, plant and equipment | 29,035 | 8,004 | |||||||
| Long-term investments and receivables | 74 | ||||||||
| Due from related parties | ✕ | ✕ | 74 | ||||||
| Intangible assets, net (including goodwill) | 182,477 | 191,829 | 266,723 | 236,366 | |||||
| Goodwill | 31,621 | 31,621 | 98,000 | 119,542 | |||||
| Intangible assets, net (excluding goodwill) | 150,856 | 160,208 | 168,723 | 116,824 | |||||
| Asset, held-in-trust | 94,541 | 117,740 | |||||||
| Deferred income tax assets | 52 | ✕ | |||||||
| Other noncurrent assets | 1,326 | 1,380 | 738 | 251 | |||||
| Other undisclosed noncurrent assets | 15,005 | 18,519 | |||||||
| Total noncurrent assets: | 245,976 | 258,321 | 296,496 | 244,695 | 94,594 | 117,740 | |||
| TOTAL ASSETS: | 258,476 | 276,780 | 317,719 | 289,116 | 94,689 | 118,035 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 15,630 | 19,053 | 13,143 | 3,053 | 330 | 256 | |||
| Taxes payable | ✕ | ✕ | ✕ | 172 | 15 | ||||
| Accounts payable | 7,093 | 8,464 | 7,841 | 1,678 | |||||
| Accrued liabilities | 8,537 | 10,589 | 5,302 | 1,203 | |||||
| Other undisclosed accounts payable and accrued liabilities | 330 | 241 | |||||||
| Deferred revenue | 19 | 84 | 468 | ✕ | |||||
| Debt | 52,834 | 4,985 | 3,331 | 4,450 | |||||
| Other liabilities | 4,117 | 6,241 | 6,481 | ||||||
| Other undisclosed current liabilities | 10,092 | 9,840 | 907 | 1,655 | 56 | 15 | |||
| Total current liabilities: | 82,692 | 40,203 | 24,330 | 9,158 | 386 | 271 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 16,206 | 53,794 | 1,522 | ||||||
| Long-term debt, excluding current maturities | 1,522 | ||||||||
| Finance lease, liability | 1,350 | 783 | ✕ | ||||||
| Other undisclosed long-term debt and lease obligation | 14,856 | 53,011 | |||||||
| Liabilities, other than long-term debt | 102,146 | 103,641 | 60,611 | 29 | |||||
| Deferred revenue | 2,109 | ✕ | |||||||
| Deferred rent credit | 900 | 29 | |||||||
| Deferred income tax liabilities | 1,146 | 1,223 | 1,353 | ✕ | |||||
| Financial instruments subject to mandatory redemption, settlement terms, share value, amount | 55,629 | 51,418 | 47,525 | ||||||
| Due to related parties | ✕ | ✕ | 9,235 | 8,724 | |||||
| Other liabilities | 740 | 1,017 | |||||||
| Operating lease, liability | 44,631 | 40,748 | ✕ | ||||||
| Other undisclosed noncurrent liabilities | 182 | 195 | 59,503 | 19,332 | 1,351 | ||||
| Total noncurrent liabilities: | 118,534 | 157,630 | 120,114 | 20,883 | 1,351 | ||||
| Total liabilities: | 201,226 | 197,833 | 144,444 | 30,041 | 1,736 | 271 | |||
| Temporary equity, including noncontrolling interest | 87,952 | 112,764 | |||||||
| Equity | |||||||||
| Equity, attributable to parent, including: | 57,250 | 78,947 | 173,275 | 259,075 | 5,000 | 5,000 | |||
| Common stock | 2 | 2 | 2 | 2 | 0 | 0 | |||
| Additional paid in capital | 315,107 | 306,096 | 296,992 | 261,298 | 2,817 | 3,979 | |||
| Retained earnings (accumulated deficit) | (257,859) | (227,151) | (123,719) | (2,225) | 2,182 | 1,021 | |||
| Warrants and rights outstanding | 195 | 2,706 | |||||||
| Other undisclosed equity, attributable to parent | (195) | (2,706) | |||||||
| Equity, attributable to noncontrolling interest | |||||||||
| Total equity: | 57,250 | 78,947 | 173,275 | 259,075 | 5,000 | 5,000 | |||
| TOTAL LIABILITIES AND EQUITY: | 258,476 | 276,780 | 317,719 | 289,116 | 94,689 | 118,035 | |||
Income Statement (P&L) ($ in thousands)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 170,100 | 178,720 | 68,867 | 1,704 | ||||
| Cost of revenue | (840) | (554) | ||||||
| Gross profit: | 170,100 | 178,720 | 68,867 | 1,704 | (840) | (554) | ||
| Operating expenses | (57,388) | (79,682) | (204,501) | (3,104) | ||||
| Other undisclosed operating loss | (134,750) | (199,092) | ||||||
| Operating loss: | (22,038) | (100,054) | (135,634) | (1,400) | (840) | (554) | ||
| Nonoperating income | 80 | 2,418 | 1,852 | |||||
| Investment income, nonoperating | 2,409 | 1,871 | ||||||
| Other nonoperating income | 80 | |||||||
| Interest and debt expense | (8,828) | (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: | (30,786) | (108,713) | (137,040) | 4,982 | 1,578 | 1,298 | ||
| Other undisclosed income from continuing operations before income taxes | 13 | 5,186 | 15,858 | |||||
| Income (loss) from continuing operations before income taxes: | (30,773) | (103,527) | (121,182) | 4,982 | 1,578 | 1,298 | ||
| Income tax expense (benefit) | 65 | 95 | (312) | 366 | (416) | (277) | ||
| Income (loss) from continuing operations: | (30,708) | (103,432) | (121,494) | 5,348 | 1,162 | 1,022 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (121,494) | 5,348 | 1,162 | 1,022 | |
| Net income (loss) attributable to parent: | (30,708) | (103,432) | (121,494) | 5,348 | 1,162 | 1,022 | ||
| 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: | (30,708) | (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: | (30,708) | (103,432) | (134,113) | (249,000) | (513) | (586) | ||
Comprehensive Income ($ in thousands)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (30,708) | (103,432) | (121,494) | 5,348 | 1,162 | 1,022 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (30,708) | (103,432) | (121,494) | 5,348 | 1,162 | 1,022 | ||
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.