| Dec'19 | Dec'18 | Dec'17 | Dec'17 | Dec'16 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||
Net income (loss) | ||||||||
4,677 | 3,640 | -1,268 | -1,580 | 9,300 | 9,175 | 8,851 | 7,552 | 5,750 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||
Depreciation and amortization expense | ||||||||
27,863 | 24,490 | 18,761 | 18,761 | 14,880 | 14,880 | 11,312 | 8,472 | 6,008 |
Amortization of financing fees | ||||||||
81 | 133 | 53 | 53 | 42 | 42 | 42 | 125 | 29 |
Stock-based compensation | ||||||||
3,332 | 2,714 | - | 2,518 | - | 1,870 | - | - | - |
Stock-based compensation | ||||||||
- | - | 2,518 | - | 1,870 | - | 1,200 | 515 | 260 |
Tax Receivable Agreement liability adjustment | ||||||||
-372 | -1,555 | 57,231 | 57,231 | 0 | - | - | - | - |
Asset impairment and restaurant closure charges | ||||||||
131 | 3,082 | - | - | - | - | - | - | - |
Loss on disposal of assets | ||||||||
-210 | -97 | -81 | -81 | -128 | -128 | -114 | -141 | -15 |
Deferred income taxes | ||||||||
961 | -1,057 | 65,388 | 65,388 | 3,645 | 3,645 | 2,463 | 275 | - |
Operating lease right-of-use assets | ||||||||
-14,217 | - | - | - | - | - | - | - | - |
Operating lease liabilities | ||||||||
-14,963 | - | - | - | - | - | - | - | - |
Deferred rent | ||||||||
- | 533 | -485 | -485 | -125 | -125 | -338 | -321 | -327 |
Changes in assets and liabilities: | ||||||||
Accounts receivable | ||||||||
-2,200 | -3,322 | -1,484 | -1,484 | -1,856 | -1,856 | -1,983 | -1,183 | -1,272 |
Inventory | ||||||||
168 | 286 | 214 | 214 | 396 | 396 | 214 | 243 | 332 |
Prepaid expenses | ||||||||
4,102 | 1,538 | 190 | 190 | 254 | 254 | 295 | -198 | 1,016 |
Deposits and other assets | ||||||||
1,012 | 267 | 276 | 276 | 561 | 561 | 978 | 381 | 277 |
Accounts payable | ||||||||
649 | 2,166 | 1,517 | 1,517 | 490 | 490 | 1,823 | 1,831 | 2,866 |
Employee-related accruals | ||||||||
7,129 | 5,123 | 1,104 | 1,104 | 1,277 | 1,277 | 1,465 | 556 | 495 |
Accrued expenses | ||||||||
1,395 | -854 | 960 | 1,272 | 1,300 | 1,425 | 1,448 | 2,204 | -381 |
Income taxes payable | ||||||||
-10 | -13 | -1 | -1 | 31 | 31 | -103 | - | - |
Sales taxes payable | ||||||||
971 | 322 | 436 | 436 | 270 | 270 | 411 | 445 | 358 |
Net cash provided by operating activities | ||||||||
45,425 | 42,096 | - | 33,607 | - | 34,003 | - | - | - |
Cash flows from investing activities: | ||||||||
Net cash provided by operating activities | ||||||||
- | - | 33,607 | - | 34,003 | - | 29,860 | 23,194 | 15,374 |
Purchase of property and equipment | ||||||||
34,360 | 43,399 | 46,037 | 46,037 | 32,649 | 32,649 | 27,659 | 24,403 | 20,234 |
Proceeds on sale of assets | ||||||||
- | - | 12 | 12 | - | - | - | - | - |
Net cash used in investing activities | ||||||||
-34,360 | -43,399 | - | -46,025 | - | -32,649 | - | - | - |
Cash flows from financing activities: | ||||||||
Net cash used in investing activities | ||||||||
- | - | -46,025 | - | -32,649 | - | -27,659 | -24,403 | -20,234 |
Proceeds from exercise of stock options | ||||||||
- | - | - | - | - | - | - | 111 | 77 |
Tax receivable agreement payments to related parties | ||||||||
427 | 1,438 | 2,040 | 2,040 | 2,003 | 2,003 | 13 | - | - |
Tax distributions to Continuing LLC Owners | ||||||||
- | - | - | - | - | - | - | 1,351 | - |
Other distributions to Continuing LLC Owners | ||||||||
- | - | - | - | - | - | - | 29,000 | - |
Tax distributions to LLC members | ||||||||
862 | 288 | 920 | 920 | 1,850 | 1,850 | 4,354 | - | 149 |
Other distributions to LLC members | ||||||||
104 | 132 | 190 | 190 | 227 | 227 | 269 | - | - |
Proceeds from deemed landlord financing | ||||||||
- | - | - | - | - | - | - | - | 96 |
Payments on deemed landlord financing | ||||||||
- | 220 | 82 | 82 | 73 | 73 | 43 | 28 | 35 |
Payments of tax withholding related to restricted stock vesting | ||||||||
191 | - | - | - | - | - | - | - | - |
Borrowings on long-term debt | ||||||||
- | - | - | - | - | - | - | 33,750 | 6,150 |
Financing fees on long-term debt | ||||||||
1 | 2 | 265 | 265 | - | - | - | 5 | - |
Net cash used in financing activities | ||||||||
-1,585 | -2,080 | - | -3,497 | - | -4,153 | - | - | - |
Net change in cash and cash equivalents | ||||||||
9,480 | -3,383 | - | -15,915 | - | -2,799 | - | - | - |
Proceeds from IPO, net of offering costs | ||||||||
- | - | - | - | - | - | - | 92,289 | - |
Principal payments on long-term debt | ||||||||
- | - | - | - | - | - | - | 45,210 | 1,457 |
Net cash used in financing activities | ||||||||
- | - | -3,497 | - | -4,153 | - | -4,679 | 50,556 | 4,682 |
Net change in cash and cash equivalents | ||||||||
- | - | -15,915 | - | -2,799 | - | -2,478 | 49,347 | -178 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||||||||
Cash paid for interest | ||||||||
15 | 1,120 | - | 890 | - | 661 | - | - | - |
Cash paid for interest | ||||||||
- | - | 890 | - | 661 | - | 416 | 1,110 | 691 |
Cash paid for income taxes, net | ||||||||
10 | 13 | 1 | 1 | -31 | -31 | 103 | - | - |
NON-CASH FINANCING | ||||||||
Deemed landlord financing | ||||||||
- | 6,325 | 7,746 | 7,746 | 3,672 | 3,672 | - | - | 708 |
Right-of-use assets obtained in exchange for operating lease liabilities | ||||||||
33,283 | - | - | - | - | - | - | - | - |
Unpaid purchase of property and equipment | ||||||||
3,295 | 2,762 | 4,063 | 4,063 | 1,917 | 1,917 | 1,907 | 1,528 | 1,735 |
Initial establishment of deferred tax assets | ||||||||
- | - | - | - | - | - | - | 16,133 | - |
Initial establishment of amounts payable under the tax receivable agreement | ||||||||
- | - | - | - | - | - | - | 12,698 | - |