FAT · As filed with the SEC

Fat Brands balance sheet, by quarter

The statement as Fat Brands presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.

CONDENSED CONSOLIDATED BALANCE SHEETS · USD thousands

USD thousands	Q3 2025 Sep 28, 2025	Q2 2025 Jun 29, 2025	Q1 2025 Mar 30, 2025	Q4 2024 Dec 29, 2024	Q3 2024 Sep 29, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023 Dec 31, 2023
Assets
Current assets
Cash	2,052	7,648	12,150	23,383	16,837	16,576	39,886	37,044
Restricted cash	11,965	25,784	29,381	25,239	33,439	40,069	39,486	39,271
Accounts receivable, net	13,986	16,111	17,075	19,422	18,256	21,854	19,729	21,146
Inventory	7,449	7,729	8,562	8,420	8,468	8,866	9,184	9,306
Assets classified as held-for-sale	0	0	370	370	370	370	2,678	3,756
Other current assets	13,692	13,779	15,543	11,200	14,048	13,379	12,899	10,486
Total current assets	49,144	71,051	83,081	88,034	91,418	101,114	123,862	121,009
Non-current restricted cash	8,641	10,488	17,810	18,767	16,468	16,468	16,460	15,588
Operating lease right-of-use assets	188,875	196,000	198,341	198,091	207,520	211,789	217,728	220,035
Goodwill	285,337	285,337	285,337	285,337	305,054	305,054	305,089	305,089
Other intangible assets, net	584,004	587,894	591,783	595,689	608,458	612,796	616,672	620,622
Property and equipment, net	87,185	89,837	91,463	97,390	104,938	103,079	98,803	100,524
Other assets	7,440	7,153	5,724	5,870	5,779	6,047	6,081	5,371
Total assets	1,210,626	1,247,760	1,273,539	1,289,178	1,339,635	1,356,347	1,384,695	1,388,238
Liabilities and Stockholders' Deficit
Liabilities
Current liabilities
Accounts payable	47,689	42,489	45,331	38,725	30,054	17,958	23,778	21,809
Accrued expenses and other liabilities	88,616	79,898	73,261	68,084	66,708	59,610	50,519	58,903
Deferred income, current portion	2,162	2,200	2,514	2,275	2,300	2,378	2,462	2,490
Accrued advertising	9,177	6,484	5,469	5,307	7,203	6,573	6,773	7,992
Accrued interest payable	38,999	34,887	31,553	24,837	31,723	29,474	26,946	24,961
Dividend payable on preferred shares	—	—	—	—	—	1,345	1,334	1,325
Dividend payable on preferred shares	8,868	4,429	1,455	1,389	1,358	—	—	—
Liabilities related to assets classified as held-for-sale	0	0	393	393	393	393	2,309	3,421
Operating lease liability, current portion	15,359	15,756	16,254	16,229	21,499	17,331	17,596	17,254
Redeemable preferred stock	91,836	91,836	91,836	91,836	91,836	91,836	91,836	91,836
Long-term debt, current portion	1,263,470	57,702	48,528	49,241	49,141	45,060	42,822	42,611
Acquisition purchase price payable	—	—	—	0	0	0	0	4,000
Total current liabilities	1,566,176	335,681	316,594	298,316	302,215	271,958	266,375	276,602
Deferred income, net of current portion	18,331	19,371	19,830	20,347	20,691	22,300	21,443	21,958
Deferred income tax liabilities, net	15,140	14,584	14,881	13,772	22,556	22,912	21,588	18,805
Operating lease liability, net of current portion	198,994	198,941	201,264	200,132	198,963	206,803	209,493	211,744
Long-term debt, net of current portion	2,459	1,218,217	1,216,805	1,208,997	1,177,921	1,168,416	1,158,060	1,110,308
Other liabilities	3,327	4,166	3,661	3,326	3,439	2,599	4,502	4,684
Total liabilities	1,804,427	1,790,960	1,773,035	1,744,890	1,725,785	1,694,988	1,681,461	1,644,101
Stockholders’ deficit
Preferred stock and additional paid-in-capital, $0.0001 par value; 15,000,000 shares authorized; 4,493,582 shares issued and outstanding at September 28, 2025 and 3,591,706 shares issued and outstanding at December 29, 2024; liquidation preference $25 per share	39,144	41,461	42,793	40,837	41,106	42,232	43,083	44,103
Class A common stock and Class B common stock and additional paid-in capital as of March 31, 2024: $0.0001 par value per share; 51,600,000 shares authorized (Class A 50,000,000, Class B 1,600,000); 16,972,270 shares issued and outstanding (Class A 15,701,465, Class B 1,270,805). Common stock and additional paid-in capital as of December 31, 2023: $0.0001 par value; 51,600,000 shares authorized; 16,900,099 shares issued and outstanding (Class A 15,629,294, Class B 1,270,805)	—	—	—	—	—	—	(32,756)	(31,189)
Class A common stock and Class B common stock and additional paid-in capital as of September 28, 2025: $0.0001 par value per share; 51,600,000 shares authorized (Class A 50,000,000, Class B 1,600,000); 17,885,205 shares issued and outstanding (Class A 16,614,400, Class B 1,270,805). Common stock and additional paid-in capital as of December 29, 2024: $0.0001 par value; 51,600,000 shares authorized; 17,254,683 shares issued and outstanding (Class A 15,983,878, Class B 1,270,805)	(13,186)	(24,357)	(37,354)	(37,925)	(36,049)	(34,420)	—	—
Accumulated deficit	(611,782)	(553,563)	(499,375)	(458,624)	(391,207)	(346,452)	(307,093)	(268,777)
Stockholders’ deficit attributable to FAT Brands Inc.	(585,824)	(536,459)	(493,936)	(455,712)	(386,150)	(338,640)	(296,766)	(255,863)
Non-controlling interest	(7,977)	(6,741)	(5,560)	—	—	—	—	—
Total stockholders' deficit	(593,801)	(543,200)	(499,496)	—	—	—	—	—
Total liabilities and stockholders' deficit	1,210,626	1,247,760	1,273,539	1,289,178	1,339,635	1,356,348	1,384,695	1,388,238

As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.