BurgerFi International (Nasdaq: BFI) reported its Q1 2024 financial results, highlighting a revenue decline to $42.9 million from $45.7 million in the previous year. The company experienced a 17% decrease in systemwide sales for BurgerFi and a 2% decrease for Anthony's. Same-store sales dropped 13% for BurgerFi and 2% for Anthony's. Despite these declines, net loss reduced to $6.5 million from $9.2 million, and management noted sequential improvement through the quarter. Adjusted EBITDA was $0.3 million, down from $2.6 million. Operational improvements and new systems are expected to drive future growth.
BurgerFi International (NASDAQ: BFI, BFIIW) will announce its Q1 2024 financial results on May 15, 2024, before the market opens.
Management will discuss the results in a conference call at 8:30 a.m. ET the same day.
The call will be available live and for replay on their Investor Relations website.
Dial-in details for the call include a toll-free number (1-833-816-1403) and an international number (1-412-317-0496) with Conference ID: 10189129.
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