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 investments7,55611,91714,88936,72018206
Cash and cash equivalent7,55611,91714,88936,72018206
Restricted cash and investments    3,663  
Receivables1,3681,7661,689933  
Inventory, net of allowances, customer advances and progress billings1,1901,3201,387268  
Inventory1,1901,3201,387268  
Prepaid expense    1089
Asset, held-for-sale, not part of disposal group732732732732  
Other current assets  2,7242,5261,607  
Other undisclosed current assets1,654  49867 
Total current assets:12,50018,45921,22344,42195295
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 1,116852   
Operating lease, right-of-use asset46,05245,741   
Property, plant and equipment  29,0358,004  
Long-term investments and receivables    74  
Due from related parties  74  
Intangible assets, net (including goodwill)182,477191,829266,723236,366  
Goodwill31,62131,62198,000119,542  
Intangible assets, net (excluding goodwill)150,856160,208168,723116,824  
Asset, held-in-trust     94,541117,740
Deferred income tax assets     52
Other noncurrent assets1,3261,380738251  
Other undisclosed noncurrent assets15,00518,519    
Total noncurrent assets:245,976258,321296,496244,69594,594117,740
TOTAL ASSETS:258,476276,780317,719289,11694,689118,035
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:15,63019,05313,1433,053330256
Taxes payable 172 15
Accounts payable7,0938,4647,8411,678  
Accrued liabilities8,53710,5895,3021,203  
Other undisclosed accounts payable and accrued liabilities     330241
Deferred revenue 1984468  
Debt52,8344,9853,3314,450  
Other liabilities4,1176,2416,481   
Other undisclosed current liabilities10,0929,8409071,6555615
Total current liabilities:82,69240,20324,3309,158386271
Noncurrent Liabilities
Long-term debt and lease obligation, including:16,20653,794 1,522  
Long-term debt, excluding current maturities    1,522  
Finance lease, liability 1,350783   
Other undisclosed long-term debt and lease obligation14,85653,011    
Liabilities, other than long-term debt102,146103,64160,61129  
Deferred revenue   2,109  
Deferred rent credit   90029  
Deferred income tax liabilities1,1461,2231,353  
Financial instruments subject to mandatory redemption, settlement terms, share value, amount55,62951,41847,525   
Due to related parties9,2358,724   
Other liabilities7401,017    
Operating lease, liability44,63140,748   
Other undisclosed noncurrent liabilities18219559,50319,3321,351 
Total noncurrent liabilities:118,534157,630120,11420,8831,351 
Total liabilities:201,226197,833144,44430,0411,736271
Temporary equity, including noncontrolling interest     87,952112,764
Equity
Equity, attributable to parent, including:57,25078,947173,275259,0755,0005,000
Common stock222200
Additional paid in capital315,107306,096296,992261,2982,8173,979
Retained earnings (accumulated deficit)(257,859)(227,151)(123,719)(2,225)2,1821,021
Warrants and rights outstanding  1952,706   
Other undisclosed equity, attributable to parent  (195)(2,706)   
Equity, attributable to noncontrolling interest      
Total equity:57,25078,947173,275259,0755,0005,000
TOTAL LIABILITIES AND EQUITY:258,476276,780317,719289,11694,689118,035

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
Revenues170,100178,72068,8671,704  
Cost of revenue     (840)(554)
Gross profit:170,100178,72068,8671,704(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 income80   2,4181,852
Investment income, nonoperating     2,4091,871
Other nonoperating income80     
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)4,9821,5781,298
Other undisclosed income from continuing operations before income taxes135,18615,858   
Income (loss) from continuing operations before income taxes:(30,773)(103,527)(121,182)4,9821,5781,298
Income tax expense (benefit)6595(312)366(416)(277)
Income (loss) from continuing operations:(30,708)(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:(30,708)(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:(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)5,3481,1621,022
Comprehensive income (loss), net of tax, attributable to parent:(30,708)(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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