Driven Brands Holdings Inc. (DRVN)

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Driven Brands Holdings Inc.

DRVN • CIK 0001804745

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Operating Income (Loss)	$-686,533	$-140,231	$231,110	$272,223
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	—	—	$119,231	$160,045
Income Tax Expense (Benefit)	$-102,689	$-25,143	$-12,842	$-3,834
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	—	—	$132,073	$163,879
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax	—	—	$35,752	$24,644
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax	—	—	$-27,663	$-12,354
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$-744,962	$-292,496	$140,162	$189,486
Revenue from Contract with Customer, Excluding Assessed Tax	$2,304,029	$2,339,588	$1,862,438	$1,787,144
Operating Costs and Expenses	—	—	$381,905	$381,905
Selling, General and Administrative Expense	$443,112	$554,775	$496,297	$431,642
Depreciation, Depletion and Amortization	$175,296	$180,112	$81,858	$55,065
Operating Expenses	$2,990,562	$2,479,819	$1,631,328	$1,514,921
InterestExpenseNonoperating	—	$156,964	$121,202	$97,552
Foreign Currency Transaction Gain (Loss), before Tax	$3,078	$-20,239	$14,715	$-7,414
Gain (Loss) on Extinguishment of Debt	$0	$-205	$-5,392	$-7,212
Nonoperating Income (Expense)	$-161,118	$-177,408	$-111,879	$-112,178
Weighted Average Number of Shares Outstanding, Basic	161,917,000	160,319,000	162,836,000	165,454,000
Weighted Average Number of Shares Outstanding, Diluted	161,917,000	160,319,000	163,852,000	165,642,000
Goodwill, Impairment Loss	$850,970	$0	$0	$0
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic	$-15,673	$-5,331	$1,002	$786
Net Income (Loss) Available to Common Stockholders, Basic	$-729,289	$-287,165	$131,071	$131,071
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	—	—	$8,089	$12,290
Undistributed Discontinued Operation Earnings (Loss), Basic	—	—	$-61	$169
Net Income (Loss) from Discontinued Operations Available to Common Shareholders, Basic	—	—	$8,028	$12,459
Undistributed Earnings (Loss) Allocated to Participating Securities, Diluted	$-12,176	$-825	$1,002	$1,089
Net Income (Loss) Available to Common Stockholders, Diluted	$-732,786	$-291,671	$131,071	$162,790
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0	0	1,016,000	188,000

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash and Cash Equivalents, at Carrying Value	$176,522	$169,954	$102,938	$183,947
Restricted Cash and Cash Equivalents, Current	$657	$358	$162	$100
Other Assets	$56,565	$125,422	$114,657	$113,264
Accounts and Financing Receivable, after Allowance for Credit Loss, Current	$151,259	$179,609	$131,958	$155,245
Property, Plant and Equipment, Net	$1,438,496	$1,024,168	$471,804	$496,273
Inventory, Net	$83,171	$67,527	$52,375	$52,087
Operating Lease, Right-of-Use Asset	$1,389,316	$1,370,355	$513,458	$548,477
Prepaid Expense, Current	$46,714	$42,271	$50,103	$30,302
Capitalized Contract Cost, Net, Noncurrent	$6,312	$7,246	$7,824	$7,824
Income Taxes Receivable, Current	$15,928	$13,706	$49,266	$48,447
Intangible Assets, Net (Excluding Goodwill)	$739,402	$665,896	$617,849	$606,309
Goodwill	$1,455,946	$1,403,056	$1,218,002	$1,209,228
Assets Held-for-sale, Not Part of Disposal Group, Current	—	—	$31,233	$11,522
Deferred Income Tax Assets, Net	$3,660	$8,206	$3,982	$3,917
Disposal Group, Including Discontinued Operation, Assets, Current	$301,229	$134,297	$61,993	$0
Disposal Group, Including Discontinued Operation, Assets, Noncurrent	—	—	$671,490	$0
Assets, Current	$821,107	$657,438	$540,854	$553,948
Assets	$5,910,804	$5,261,787	$4,159,920	$3,539,240
Long-term Debt, Excluding Current Maturities	$2,910,812	$2,660,355	$1,882,783	$1,658,932
Deferred Income Tax Liabilities, Net	$154,742	$87,485	$13,554	$26,438
Operating Lease, Liability, Noncurrent	$1,332,519	$1,303,033	$501,506	$535,268
Contract with Customer, Liability, Noncurrent	$30,507	$31,314	$30,365	$29,872
Other Accrued Liabilities, Noncurrent	$30,419	$27,436	$0	$94
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent	—	—	$165,619	$0
Liabilities	$5,004,081	$4,654,453	$3,392,718	$2,705,949
Preferred Stock, Value, Issued	$0	$0	$0	$0
Common Stock, Value, Issued	$1,640	$1,638	$1,645	$1,650
Additional Paid in Capital	$1,652,401	$1,699,851	$1,736,416	$1,745,494
Retained Earnings (Accumulated Deficit)	$-710,087	$-1,002,583	$-953,208	$-864,131
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-37,875	$-91,572	$-17,651	$-49,722
Stockholders' Equity Attributable to Parent	$906,079	$607,334	$767,202	$833,291
Accounts Payable, Current	$67,526	$95,260	$93,029	$128,468
Accrued Liabilities and Other Liabilities	$242,171	$253,880	$198,759	$166,879
Taxes Payable, Current	$5,404	$6,860	$2,652	$2,226
Long-term Debt, Current Maturities	$32,673	$33,189	$276,691	$26,243
Disposal Group, Including Discontinued Operation, Liabilities, Current	—	—	$73,795	$0
Liabilities, Current	$427,167	$433,895	$725,807	$376,730
Preferred Stock, Shares Authorized	100,000,000	100,000,000	100,000,000	100,000,000
Preferred Stock, Shares Issued	0	0	0	0
Common Stock, Shares Authorized	900,000,000	900,000,000	900,000,000	900,000,000
Common Stock, Shares, Issued	—	—	164,531,712	164,979,816
Common Stock, Shares, Outstanding	163,965,231	163,842,248	164,531,712	164,979,816
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	$18,446	$16,383	$24,286	$24,286
Finance Lease, Liability, Current	$4,420	$4,715	$6,683	$6,683
Operating Lease, Liability, Current	$74,937	$85,386	$47,094	$47,094
Finance Lease, Liability, Noncurrent	$14,889	$12,307	$19,181	$19,181
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$906,723	$607,334	$767,202	$796,701

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$-744,962	$-292,496	$140,162	$189,486
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$484	$-4,103	$5,654	$-1,304
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$-45,057	$-6,474	$3,950	$57,132
Cash and Cash Equivalents, at Carrying Value	$176,522	$169,954	$102,938	$84,308
Restricted Cash and Cash Equivalents	$657	$358	$162	$-8
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents	—	—	$29,744	$29,744
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	—	—	$185,048	$185,048
Share-based Payment Arrangement, Expense	$15,300	$48,139	$32,276	$20,014
Increase (Decrease) in Derivative Assets and Liabilities	$1,056	$9,174	$-8,347	$-5,555
Gain (Loss) on Disposition of Assets	$-4,909	$-35,722	$28,048	$26,063
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	$2,077	$2,094	$6,157	$5,124
Accounts Receivable, Credit Loss Expense (Reversal)	$1,938	$6,672	$18,722	$12,839
Amortization of Debt Issuance Costs and Discounts	$10,307	$9,759	$9,736	$7,307
Capitalized Computer Software, Amortization	$2,000	$8,270	$17,696	$21,000
Deferred Income Taxes and Tax Credits	$-125,804	$-66,594	$-20,381	$-8,664
Gain (Loss) on Extinguishment of Debt	$0	$-205	$-5,392	$-7,212
Other Noncash Income (Expense)	$-24,243	$22,648	$-3,887	$1,559
Payments to Acquire Productive Assets	$596,478	$288,504	$222,774	$176,076
Payments to Acquire Businesses, Net of Cash Acquired	$59,574	$2,990	$11,253	$5,219
Proceeds from Sale of Finance Receivables	—	—	$113,000	$113,000
Proceeds from Sale of Property, Plant, and Equipment	$9,987	$299,142	$280,654	$496,465
Net Cash Provided by (Used in) Investing Activities	$-451,407	$59,019	$232,726	$501,460
Proceeds from Issuance of Long-term Debt	$0	$274,794	$500,000	$500,000
Repayments of Long-term Debt	$27,971	$465,443	$994,584	$1,029,424
Proceeds from Short-term Debt	$378,000	$46,000	$282,000	$324,000
Repayments of Short-term Debt	$130,000	$104,000	$332,000	$504,000
Repayments of Debt and Lease Obligation	$5,165	$3,931	$5,506	$6,830
Payments for Repurchase of Common Stock	$49,956	$0	$0	$0
Payment, Tax Withholding, Share-based Payment Arrangement	—	$1,593	$4,394	$3,978
Proceeds from Stock Options Exercised	$6,117	$0	$0	$0
Proceeds from (Payments for) Other Financing Activities	$-326	$0	$0	$0
Net Cash Provided by (Used in) Financing Activities	$170,699	$-302,837	$-564,973	$-750,937
Capital Expenditures Incurred but Not yet Paid	$33,695	$16,484	$3,786	$-408
Interest Paid, Excluding Capitalized Interest, Operating Activities	$156,083	$147,748	$120,769	$96,607
Income Taxes Paid	$22,947	$37,144	$24,853	$9,533
Increase (Decrease) in Accounts and Notes Receivable	$-13,561	$48,190	$12,088	$-2,424
Increase (Decrease) in Inventories	$11,731	$-2,618	$1,475	$2,037
Increase (Decrease) in Prepaid Expense and Other Assets	$6,877	$-3,467	$24,962	$567
Increase (Decrease) in Other Operating Assets	$39,814	$85,491	$21,403	$29,248
Increase (Decrease) in Contract with Customer, Liability	$1,937	$832	$-1,543	$-871
Increase (Decrease) in Accounts Payable	$7,390	$29,397	$604	$7,865
Increase (Decrease) in Other Accounts Payable and Accrued Liabilities	$-52,854	$17,588	$30,271	$-9,910
Increase (Decrease) in Income Taxes Receivable	$-53	$-10,795	$6,311	$12,358
Net Cash Provided by (Used in) Operating Activities	$235,167	$241,447	$330,543	$307,913
Cash and Cash Equivalents, at Carrying Value, Including Discontinued Operations	—	—	$134,772	$112,600
Operating Lease, Payments	$152,078	$170,023	$79,503	$69,038
Finance Lease, Interest Payment on Liability	$918	$198	$1,530	$2,579
Finance Lease, Principal Payments	$1,152	$3,931	$5,472	$6,814
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$234,365	$62,354	$120,100	$141,174
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$2,642	$3,403	$13,074	$13,606

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Import this data to Google Sheets with:

=jivedata("DRVN","financials")

Full statements spill as a table. For one cell: =jivedata("DRVN","Revenue") or =jivedata("DRVN","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.