Why BFI? - A Compelling Turnaround Opportunity
Fiscal Year 2023 Update and Preliminary 2024 Sales
Outlook
For the Fiscal Year ended January 1, 2024
• Total revenues of approximately $170 million
Opened 8 new BurgerFi and 1 Anthony's restaurants
• No update to our previously communicated Adjusted EBITDA¹ guidance of $6-8 million or capital
expenditures of approximately $2 million.
Management's initial outlook for the fiscal year 2024
• Total revenue of approximately $170-$180 million
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Reopened flagship, company-owned, BurgerFi in New York City;
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10-15 new franchised restaurant openings including 1 new Anthony's;
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Continued improvement in COG's driven by increased adoption of inventory management at both
brands.
See slide 21 for definition of key metrics and non-U.S. GAAP financial measures
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