| Schedule of Financial Information for the Company's One Reportable and Operating Segment |
The following table presents the financial information for the Company’s one reportable and operating segment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine months ended September 30, |
|
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
|
Total revenue, net |
|
$ |
78,824 |
|
|
$ |
80,530 |
|
|
$ |
231,915 |
|
|
$ |
237,126 |
|
|
Less: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Costs of product revenue |
|
|
10,246 |
|
|
|
17,287 |
|
|
|
32,723 |
|
|
|
45,786 |
|
|
Costs of franchise and service revenue |
|
|
7,047 |
|
|
|
4,867 |
|
|
|
15,099 |
|
|
|
15,748 |
|
|
Marketing and promotion |
|
|
757 |
|
|
|
1,312 |
|
|
|
3,323 |
|
|
|
5,536 |
|
|
Salary and wages |
|
|
11,324 |
|
|
|
10,067 |
|
|
|
33,351 |
|
|
|
32,306 |
|
|
Professional services (including legal and accounting) |
|
|
2,885 |
|
|
|
15,292 |
|
|
|
27,556 |
|
|
|
30,478 |
|
|
Rent and occupancy |
|
|
1,526 |
|
|
|
4,871 |
|
|
|
4,805 |
|
|
|
13,058 |
|
|
Marketing fund expense |
|
|
8,983 |
|
|
|
6,423 |
|
|
|
27,195 |
|
|
|
20,785 |
|
|
Acquisition and transaction expenses (income) |
|
|
3,071 |
|
|
|
3,664 |
|
|
|
(7,482 |
) |
|
|
6,962 |
|
|
Other segment items(1) |
|
|
4,001 |
|
|
|
9,689 |
|
|
|
17,115 |
|
|
|
26,186 |
|
|
Equity-based compensation |
|
|
2,394 |
|
|
|
4,983 |
|
|
|
8,341 |
|
|
|
13,121 |
|
|
Depreciation and amortization |
|
|
3,679 |
|
|
|
4,226 |
|
|
|
9,608 |
|
|
|
13,179 |
|
|
Impairment of goodwill and other noncurrent assets |
|
|
17,568 |
|
|
|
4,505 |
|
|
|
32,411 |
|
|
|
16,594 |
|
|
Interest income |
|
|
(1,094 |
) |
|
|
(481 |
) |
|
|
(2,414 |
) |
|
|
(1,231 |
) |
|
Interest expense |
|
|
12,917 |
|
|
|
11,843 |
|
|
|
37,280 |
|
|
|
34,644 |
|
|
Income taxes |
|
|
266 |
|
|
|
131 |
|
|
|
1,063 |
|
|
|
216 |
|
|
Segment net income (loss) |
|
$ |
(6,746 |
) |
|
$ |
(18,149 |
) |
|
$ |
(8,059 |
) |
|
$ |
(36,242 |
) |
|
(1)
Other segment items include restructuring expenses of $1,318 and $2,376 for the three and nine months ended September 30, 2025, respectively, and $5,542 and $10,472 for the three and nine months ended September 30, 2024, respectively. Other segment items also include travel expenses, insurance expense, TRA expense, and other selling, general and administrative expenses.
|