What was the net income for Moes Southwest Grill?
Moes_Southwest_Grill Franchise · 2025 FDDAnswer from 2025 FDD Document
ng-term deferred tax liabilities | 64,182 | 74,271 | | Long-term deferred revenue | 58,571 | 55,362 | | Long-term other liabilities | 1,452 | 1,458 | | Total liabilities | 1,642,209 | 1,578,777 | | Commitments and contingencies (see Note 11) | | | | Member's deficit: | | | | Member's deficit | (759,874) | (696,181) | | Total member's deficit | (759,874) | (696,181) | | Total liabilities and member's deficit | $ 882,335 | $ 882,596 |
Consolidated statements of operations
(In thousands)
| Deferrals due to cash received and other | 14,761 10,499 | |---|---| | Deferred revenue and Long-term deferred revenue $ 62,259 $ 58,511 | | | | |
Consolidated statements of changes in member's deficit
(In thousands)
| Member's | |
|---|---|
| deficit | |
| Balance at December 25, 2022 | $ (605,206) |
| Cash proceeds retained from the exercise of Parent's stock options | 257 |
| Share-based compensation expense | 4,983 |
| Cash distribution paid to Parent's shareholders | (162,487) |
| Net income | 66,272 |
| Balance at December 31, 2023 | (696,181) |
| Cash proceeds retained from the exercise of Parent's stock options | 197 |
| Share-based compensation expense | 2,978 |
| Cash distribution paid to Parent's shareholders | (123,066) |
| Net income | 56,198 |
| Balance at December 29, 2024 | $ (759,874) |
Consolidated statements of cash flows
(In thousands)
| For the fiscal years ended: | December 29, 2024 | December 31, 2023 | |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net income | $ 56,198 | $ 66,272 | |
| Adjustments to reconcile net income to net cash provided by | |||
| operating activities: | |||
| Depreciation and amortization expense | 30,951 | 15,940 | |
| Non-cash interest expense | 2,359 | 2,638 | |
| Loss on debt extinguishment | - | 4,095 | |
| Deferred income tax benefit | (10,089) | (2,601) | |
| Asset impairment losses | 2,428 | 4,348 | |
| Loss on disposed property, equipment and leasehold | |||
| improvements, net | 1,078 | 1,483 | |
| Share-based compensation expense | 2,978 | 4,983 | |
| Provision for credit losses | 729 | 29 | |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (7,952) | (3,643) | |
| Inventories, prepaid expenses and other assets | (5,499) | (1,498) | |
| Advertising funds | (2,809) | (4,421) | |
| Accounts payable, accrued expenses and other liabilities | 1,532 | 3,605 | |
| Deferred revenue | 3,747 | (1,758) | |
| Operating lease assets and liabilities | (1,176) | (2,055) | |
| Income tax receivable |
Source: Item 23 — Receipts (FDD pages 92–334)
What This Means (2025 FDD)
According to the 2025 FDD, Moes Southwest Grill's net income for the fiscal year ending December 29, 2024, was $56,198,000, while for the fiscal year ending December 31, 2023, it was $66,272,000. This information is derived from the consolidated financial statements of GoTo Foods Systems LLC and Subsidiaries, which includes Moe's Franchisor SPV LLC.
These figures represent the net income before adjustments for various non-cash items and changes in operating assets and liabilities. These adjustments are made to reconcile net income to net cash provided by operating activities. Some of these adjustments include depreciation and amortization expense, non-cash interest expense, deferred income tax benefit, asset impairment losses, and changes in accounts receivable and payable.
A prospective franchisee should note that these net income figures reflect the overall financial performance of GoTo Foods Systems LLC, which encompasses multiple brands including Auntie Anne's, Carvel, Cinnabon, McAlister's Deli, Moe's, and Schlotzsky's. The financial performance of the parent company may not directly reflect the performance of individual Moes Southwest Grill franchise locations. Franchisees should request more specific financial data related solely to Moes Southwest Grill to gain a clearer understanding of the brand's profitability and financial health.