BurgerFi International, LLC (BFIIW)

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About BurgerFi International, LLC

Opes Acquisition Corp. does not have significant operations. It intends to effect a merger, asset acquisition, stock purchase, or other business combination with one or more businesses or entities. The company was founded in 2017 and is headquartered in Miami, Florida. Address: 4218 NE 2nd Avenue, Miami, FL, United States, 33137

BurgerFi International, LLC News and around…

Latest news about BurgerFi International, LLC (BFIIW) common stock and company :

BurgerFi International agrees to acquire Anthony's Coal Fired Pizza & Wings
11 Oct, 2021 Yahoo! Finance

One of the nations fastest growing fast-casual concepts has bought Anthony's Coal Fire Pizza and Wings

BurgerFi to Acquire Anthony’s Coal Fired Pizza & Wings
11 Oct, 2021 Yahoo! Finance

Creating Multi-Brand Platform of Premium Casual Restaurant ConceptsPALM BEACH, Fla. and FORT LAUDERDALE, Fla., Oct. 11, 2021 (GLOBE NEWSWIRE) -- BurgerFi International Inc. (Nasdaq: BFI, BFIIW) (“BurgerFi” ), the owner of one of the nation’s fastest-growing premium fast-casual concepts through the BurgerFi brand, announced today that it has entered into a definitive agreement to acquire Anthony’s Coal Fired Pizza & Wings (“Anthony’s”) from L Catterton for approximately $161.3 million, comprised

BurgerFi Continues to Bring their A-Game with A-Grade Angus Beef
13 Sep, 2021 Yahoo! Finance

BurgerFi International Inc. (Nasdaq: BFI, BFIIW), one of the nation's fastest-growing premium fast-casual concepts and Fast Casual's 2021 Brand of the Year continues to set themselves apart from the conventional burger chains with their A-Grade Angus Beef.

How Much Of BurgerFi International, Inc. (NASDAQ:BFI) Do Insiders Own?
13 Sep, 2021 Yahoo! Finance

Every investor in BurgerFi International, Inc. ( NASDAQ:BFI ) should be aware of the most powerful shareholder groups...

BurgerFi to Participate in the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum
02 Sep, 2021 Yahoo! Finance

PALM BEACH, Fla., Sept. 02, 2021 (GLOBE NEWSWIRE) -- BurgerFi International Inc. (Nasdaq: BFI, BFIIW) (“BurgerFi” or the “Company”), one of the nation’s fastest-growing premium fast-casual concepts, Fast Casuals’ #1 Brand of the Year for 2021 in the Top 100 Movers and Shakers list and the top fast casual better burger chain in USA Today’s 10Best Readers’ Choice award winner for 2021, today announced that management will participate in the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Managem

BurgerFi to Participate in C.L. King’s 19th Annual Best Ideas Conference
31 Aug, 2021 Yahoo! Finance

PALM BEACH, Fla., Aug. 31, 2021 (GLOBE NEWSWIRE) -- BurgerFi International Inc. (Nasdaq: BFI, BFIIW) (“BurgerFi” or the “Company”), one of the nation’s fastest-growing premium fast-casual concepts, Fast Casuals’ #1 Brand of the Year for 2021 in the Top 100 Movers and Shakers list and the top fast casual better burger chain in USA Today’s 10 Best Readers’ Choice award winner for 2021, today announced that management will participate in C.L. King’s 19th Annual Best Ideas Conference. Julio Ramirez,

BurgerFi Partners with ICR to Enhance Investor Relations Efforts
26 Aug, 2021 Yahoo! Finance

PALM BEACH, Fla., Aug. 26, 2021 (GLOBE NEWSWIRE) -- BurgerFi International Inc. (Nasdaq: BFI, BFIIW) (“BurgerFi” or the “Company”), one of the nation’s fastest-growing premium fast-casual concepts, Fast Casuals’ #1 Brand of the Year for 2021 in the Top 100 Movers and Shakers list and the top fast casual better burger chain in USA Today’s 10Best Readers’ Choice award winner for 2021, today announced that it has engaged ICR, LLC, a leading strategic communications advisory firm, to manage its inve

BurgerFi Reports Second Quarter 2021 Results
12 Aug, 2021 Yahoo! Finance

Total Revenue Increased 65% Year-Over-Year, System-wide Sales Up 63% and Same Store Sales Up 39% in Corporate Owned Restaurants Corporate-Owned Restaurant Same Store Sales Exceed 2019 Levels Digital Channel Sales Increase 12% Year-Over-Year Conference Call today, August 12, at 8:30 a.m. ET PALM BEACH, Fla., Aug. 12, 2021 (GLOBE NEWSWIRE) -- BurgerFi International Inc. (Nasdaq: BFI, BFIIW) (“BurgerFi” or the “Company”), one of the nation’s fastest-growing premium fast-casual concepts, Fast Casual

BurgerFi to Report Second Quarter 2021 Financial Results on August 12, 2021
05 Aug, 2021 Yahoo! Finance

PALM BEACH, Fla., Aug. 05, 2021 (GLOBE NEWSWIRE) -- BurgerFi International Inc. (NASDAQ: BFI, BFIIW) (“BurgerFi” or the “Company”), one of the nation’s fastest-growing premium fast-casual concepts, Fast Casuals’ #1 Brand of the year for 2021 in the Top 100 Movers and Shakers list and the top fast casual better burger chain in USA Today’s 10Best Readers’ Choice award winner for 2021 will report financial results for the second quarter ended June 30, 2021 on Thursday, August 12, 2021 before market

BurgerFi Gets Saucy
22 Jul, 2021 Yahoo! Finance

BurgerFi International Inc. (Nasdaq: BFI, BFIIW) BurgerFi's commitment to providing the best burger experience is saucier than ever. The only thing that could make their made-to-order, Fresh-Cut Sides and all-natural Cage-Free Fi'ed Chicken Tenders better is the unparalleled array of premium, chef-crafted, sauces to go with them.

BurgerFi Appoints Vivian Lopez-Blanco to its Board of Directors
15 Jul, 2021 Yahoo! Finance

PALM BEACH, Fla., July 15, 2021 (GLOBE NEWSWIRE) -- BurgerFi International, Inc. (Nasdaq: BFI, BFIIW) (“BurgerFi” or the “Company”), one of the nation’s fastest-growing premium fast-casual concepts, has appointed Vivian Lopez-Blanco to its board of directors, effective July 14, 2021. Lopez-Blanco’s appointment follows the sudden passing of board member Steven Berrard announced on June 10, 2021. Lopez-Blanco has also been named as the chair of the audit committee and will be serving on the compen

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of BurgerFi International, Inc. BFI
07 Jul, 2021 Yahoo! Finance

Pomerantz LLP is investigating claims on behalf of investors of BurgerFi International, Inc. ("BurgerFi" or the "Company") (NASDAQ: BFI).

The SWAG Burger Stays – BurgerFi’s Limited Time Burger Becomes a Permanent Menu Item
06 Jul, 2021 FinancialContent

After one of the most successful campaigns, the SWAG Burger has earned a permanent spot on the BurgerFi menu nationwide The post The SWAG Burger Stays – BurgerFi’s Limited Time Burger Becomes a Permanent Menu Item first appeared on RestaurantNews.com.

BurgerFi® Ramps-Up Number of Restaurants Under Construction and Expands Points of Distribution to RedeFine the Way the World Eats Burgers
06 Jul, 2021 Yahoo! Finance

BurgerFi® Ramps-Up Number of Restaurants Under Construction and Expands Points of Distribution Established in 2011, BurgerFi is among the nation's fastest-growing better burger concepts with approximately 120 restaurants domestically and internationally: and it’s not stopping there Established in 2011, BurgerFi is among the nation's fastest-growing better burger concepts with approximately 120 restaurants domestically and internationally: and it’s not stopping there PALM BEACH, Fla., July 06, 20

The SWAG Burger Stays - BurgerFi's Limited Time Burger Becomes a Permanent Menu Item
02 Jul, 2021 Yahoo! Finance

BurgerFi International Inc. (Nasdaq: BFI) (Nasdaq: BFIIW) After getting rave reviews from guests and enjoying nationwide success, the SWAG Burger is staying on the menu for good. The flavor packed SWAG Burger, which stands for Spicy Wagyu Burger, will join the CEO Burger as another premium wagyu and brisket blend burger on the core menu available at all BurgerFi locations nationwide. After first launching in March of 2021, it quickly became one of the top selling premium burgers on the menu. It

BurgerFi Set to Join Russell Microcap® Index
16 Jun, 2021 Yahoo! Finance

PALM BEACH, Fla., June 16, 2021 (GLOBE NEWSWIRE) -- BurgerFi International Inc. (Nasdaq: BFI, BFIIW), one of the nation’s fastest-growing premium fast-casual concepts, is set to join the Russell Microcap® Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on June 28, 2021, according to a preliminary list of additions posted June 4, 2021. Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 7, 2021, rank

BurgerFi Mourns Passing of Board Member Steven Berrard
10 Jun, 2021 Yahoo! Finance

PALM BEACH, Fla., June 10, 2021 (GLOBE NEWSWIRE) -- BurgerFi International Inc. (Nasdaq: BFI, BFIIW), one of the nation’s fastest-growing premium fast-casual concepts, mourns the sudden passing of its board member Steven Berrard on Monday evening. “The entire BurgerFi corporate team and franchise community are in mourning as we are deeply saddened by the unexpected passing of Steve, who was an invaluable asset on our board and a highly regarded business visionary,” said Ophir Sternberg, Executiv

BurgerFi's New "Fi on the Fly®" Food Truck Ready to Hit the Road. First Stop, Miami
25 May, 2021 Yahoo! Finance

"RedeFining" the way the world eats burgers for over a decade, BurgerFi International Inc. (Nasdaq: BFI, BFIIW), officially unveiled their new state of the art food truck ("Fi on the Fly®") during the iconic Food Network & Cooking Channel South Beach Wine & Food Festival (SOBEWFF ®). As the exclusive brand in the burger category, the truck made its debut at Bacardi's Best of the Fest hosted by Andrew Zimmern on Sunday, May 23rd. Celebrating its 20th anniversary, to date the festival has raised $31.8m for the Florida International University Chaplin School of Hospitality & Tourism Management, and Southern Wine & Spirits Beverage Management Center.

BurgerFi Reports First Quarter 2021 Results
19 May, 2021 Yahoo! Finance

- Total Revenue Increased 32% Year-Over-Year in the First Quarter, Same Store Sales Up 11% in Corporate Owned Restaurants and Systemwide Sales Up 19% - - Digital Channel Sales Increase 98% Year-Over-Year in the First Quarter - - Company to Hold Conference Call Tomorrow, May 20th, at 8:30 a.m. ET - PALM BEACH, Fla., May 19, 2021 (GLOBE NEWSWIRE) -- BurgerFi International Inc. (Nasdaq: BFI, BFIIW), one of the nation’s fastest-growing premium fast-casual concepts, Fast Casuals’ #1 Brand of the year for 2021 in the Top 100 Movers and Shakers list and USA Today’s 10Best Readers’ Choice for 2021, is reporting financial results for the first quarter ended March 31, 2021. First Quarter 2021 Key Metrics1 Summary (in thousands, except for percentage data) Three Months Ended March 31, 2021 Systemwide Restaurant Sales$39,820Systemwide Restaurant Sales YOY Growth19%Systemwide Restaurant Same Store Sales YOY Growth4%Corporate Restaurant Sales$8,143Corporate Restaurant Sales YOY Growth41%Corporate Restaurant Same Store Sales YOY Growth11%Digital Channel Systemwide Sales$13,014Digital Channel Sales YOY Growth98%Digital Channel Orders 519Digital Channel Orders % of Systemwide Sales33% 1 Refer to “Key Metrics Definitions” and “About Non-GAAP Financial Measures” sections below. Management Commentary“The first quarter of 2021 reflected our return to positive sales growth, achieved through unit growth and same store sales growth in both corporate owned restaurants and franchised locations,” said Julio Ramirez, CEO of BurgerFi. “Our success demonstrates the continued momentum from the COVID-19 pandemic recovery, supported by growth in our number of locations, strong results from our digital channel, the execution of our marketing strategy and successful limited time offerings. As a continuation of the investments in our digital channel, we also recently announced that we have hired Karl Goodhew as chief technology officer, a new position at our company that reflects the increasingly important role that technology is playing in our business. Additionally, we continue to redefine our brand and value proposition, and I’m pleased to say we have hired Henry Gonzalez as chief marketing officer. With his extensive leadership experience in field and corporate marketing, he is uniquely qualified to collaborate with all stakeholders to help us unlock our brand’s potential and drive growth. “For 2021, we will continue to execute on our restaurant development plan in both new and existing markets with plans to open approximately 30 restaurants this year. We opened four new restaurants in the first quarter, one in April and currently have 21 restaurants in various stages of development and plan to expand our Ghost Kitchens through our partnerships with Reef and Epic Kitchens through opening 15-20 additional locations by the end of 2021. We are looking forward to bringing the ‘better burger’ experience to more consumers nationwide and internationally as we continue to build our brand. With our ongoing brand recognition efforts, we remain committed to innovating our menu items with unique offerings, like our Swag Burger and Dunkaroo Shake, to drive further excitement with consumers. We are optimistic about our expansion efforts on the eastern seaboard and internationally, and we anticipate that our growing presence will deliver strong results.” Commenting on the results, Ophir Sternberg, Executive Chairman of BurgerFi, stated: “BurgerFi started the year strong receiving multiple awards, including being named a top fast casual restaurant by USA Today’s 10Best Readers’ Choice Awards. An increasing number of people continue to be introduced to our best-in-class menu and we look forward to the continued expansion of the brand in 2021 through new restaurant openings. I am also excited that we have topped off our c-suite with our recent appointments of our chief financial, chief technology and chief marketing officers. With the great talent we have in place, we are well positioned for 2021 and beyond.” First Quarter 2021 Financial ResultsTotal revenue in the first quarter of 2021 increased 32% to $11.0 million compared to $8.3 million in the year-ago quarter. New restaurant openings and same store sales increases supported by the Company’s digital channel sales, continued to drive sequential improvement in same store sales for the first quarter. Systemwide sales in the first quarter of 2021 increased 19% to $39.8 million compared to $33.5 million in the prior year period. Corporate owned restaurants delivered an 11% increase in same store sales. Restaurant-level operating expenses for the first quarter were $7.4 million compared to $5.3 million in the year-ago quarter. Restaurant-level operating margin was 13.5% compared to 13.6% in the first quarter of 2020, with the slight decline driven primarily by a higher percentage of the Company’s business being supported by third party delivery service partners. Net loss attributable to controlling interests and common shareholders in the first quarter was $8.2 million compared to net income attributable to controlling interests and common shareholders of $0.8 million in the year-ago quarter. The additional income generated by higher sales was more than offset by the non-cash loss on change in value of warrant liabilities, a valuation allowance in relation to the Company’s deferred tax assets and higher depreciation and amortization expense as a result of the Company’s business combination in December 2020, non-cash share-based compensation expense and the increase in costs associated with being a public company. Adjusted EBITDA in the first quarter of 2021 was $0.7 million compared to $1.1 million in the year-ago quarter. The decline was primarily a result of an increase in the aforementioned costs associated with being a public company, along with foundational investments to support future growth initiatives. See reconciliation of GAAP to Non-GAAP measures below. LiquidityAt March 31, 2021, the Company had $34.7 million in unrestricted cash, compared to $37.2 million at December 31, 2020. BurgerFi repaid and then terminated its revolving credit line in January 2021. 2021 OutlookBurgerFi remains optimistic about its short-term and long-term prospects. BurgerFi is providing the following limited modeling assumptions related to its plans for 2021: The Company plans to open approximately 30 new restaurants in 2021, as well as approximately 15-20 new Ghost Kitchens.Capital expenditures are planned to be approximately $15 million for 2021, primarily to support new restaurant construction. Conference Call The Company will hold a conference call tomorrow, May 20th at 8:30 a.m. Eastern time to discuss its first quarter 2021 results, along with its recently filed fourth quarter and full year 2020 results. Date: Thursday, May 20, 2021Time: 8:30 a.m. Eastern time Toll-free dial-in number: 1-833-693-0539International dial-in number: 1-661-407-1580Conference ID: 2977159 Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at (949) 574-3860. The conference call will be broadcast live and available for replay here and on the Company’s website at ir.burgerfi.com. A replay of the conference call will be available after 11:30 a.m. Eastern time on the same day through June 1, 2021. Toll-free replay number: 1-855-859-2056International replay number: 1-404-537-3406Replay ID: 2977159 Key Metrics DefinitionsThe following definitions apply to the terms listed below: “Systemwide Restaurant Sales” is presented as informational data in order to understand the aggregation of, franchised stores sales, ghost kitchen and corporate-owned stores sales performance. Systemwide restaurant sales growth refers to the percentage change in sales at all franchise restaurants, ghost kitchens and corporate-owned restaurants in one period from the same period in the prior year. Systemwide restaurant same store sales growth refers to the percentage change in sales at all franchise restaurants, ghost kitchens, and corporate-owned restaurants once the restaurant has been in operation after 14 months. See definition below for same store sales. “Corporate-Owned Restaurant Sales” represent the sales generated by corporate-owned restaurants. Corporate-owned restaurant sales growth refers to the percentage change is sales at all corporate-owned restaurants in one period from the same period in the prior year. Corporate-owned restaurant same stores sales growth refers to the percentage change in sales at all corporate-owned restaurants once the restaurant has been in operation after 14 months. These measures highlight the performance of existing corporate restaurants. “Same Store Sales” is used to evaluate the performance of our store base, which excludes the impact of new stores and closed stores, in both periods under comparison. We include a restaurant in the calculation of same store sales once it has been in operation after 14 months. A restaurant which is temporarily closed (including as a result of the Covid-19 pandemic), is included in the same store sales computation. A restaurant which is closed permanently, such as upon termination of the lease, or other permanent closure, is immediately removed from the same store sales computation. Employee complimentary meals are excluded from the computation. Our calculation of same store sales may not be comparable to others in the industry. “Digital Channel Systemwide Sales” is used to measure performance of our digital platform and partnerships with third party delivery partners. We believe our digital platform capabilities are a vital element to continuing to serve our customers and will continue to be a differentiator for BurgerFi as compared to some of our competitors. Digital channel systemwide sales refer to sales generated through the use of digital platforms across all our franchise and corporate-owned restaurants. Digital channel sales growth refers to the percentage change in sales through our digital platforms in one period from the same period in the prior year for all franchise and corporate-owned restaurants. Digital channel orders and digital channel orders as a percentage of systemwide sales are indicative of the number of orders placed through our digital platforms and the percentage of those digital orders when compared to total number of orders at all our franchise and corporate restaurants. “Adjusted EBITDA,” a non-GAAP measure, is defined as net income attributable to common shareholders and controlling interests before interest, income taxes, depreciation and amortization, merger and acquisition related costs, preopening costs, share-based compensation expense, gains and losses on change in value of warrant liabilities, and certain legal matters. About BurgerFi International (Nasdaq: BFI, BFIIW)Established in 2011, BurgerFi is among the nation's fastest-growing better burger concepts with approximately 120 BurgerFi restaurants domestically and internationally. The concept is chef-founded and is committed to serving fresh food of transparent quality. BurgerFi uses 100% American angus beef with no steroids, antibiotics, growth hormones, chemicals or additives. BurgerFi's menu also includes high quality wagyu beef, antibiotic and cage-free chicken offerings, fresh, hand-cut sides and custard shakes and concretes. BurgerFi was named QSR Magazine's Breakout Brand of 2020, placed in the top 10 on Fast Casual's Top 100 Movers & Shakers list in 2020, was named "Best Burger Joint" by Consumer Reports and fellow public interest organizations in the 2019 Chain Reaction Study, listed as a "Top Restaurant Brand to Watch" by Nation's Restaurant News in 2019 and is included in Inc. Magazine's Fastest Growing Private Companies List. To learn more about BurgerFi or to find a full list of locations, please visit www.burgerfi.com. Download the BurgerFi App on iOS or Android devices for rewards and 'Like' BurgerFi on Facebook or follow @BurgerFi on Instagram and Twitter.BurgerFi® is a Registered Trademark of BurgerFi IP, LLC, a wholly-owned subsidiary of BurgerFi. About Non-GAAP Financial MeasuresTo supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use the measure Adjusted EBITDA. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. We use this non-GAAP financial measure for financial and operational decision-making and as a means to evaluate period-to-period comparisons. We believe that this non-GAAP financial measure provides meaningful supplemental information regarding our performance and liquidity by excluding certain items that may not be indicative of our recurring core business operating results. We believe that both management and investors benefit from referring to this non-GAAP financial measure in assessing our performance and when planning, forecasting, and analyzing future periods. This non-GAAP financial measure also facilitates management’s internal comparisons to our historical performance and liquidity as well as comparisons to our competitors’ operating results. We believe this non-GAAP financial measure is useful to investors both because (1) it allows for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) it is used by our institutional investors and the analyst community to help them analyze the health of our business. There are a number of limitations related to the use of non-GAAP financial measures. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from this non-GAAP financial measure and evaluating this non-GAAP financial measure together with its relevant financial measures in accordance with GAAP. For more information on this non-GAAP financial measures, please see the tables captioned Reconciliation of Net Income (Loss) to Adjusted EBITDA included at the end of this release. Forward-Looking Statements This press release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995, including statements relating to BurgerFi's estimates of its future business outlook, prospects or financial results. Forward-looking statements generally can be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "will be," "will continue," "will likely result," and similar expressions. These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties, which could cause our actual results to differ materially from those reflected in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in our Annual Report on Form 10-K for the year ended December 31, 2020 and those discussed in other documents we file with the Securities and Exchange Commission. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Investor Relations Contact:Gateway Investor RelationsCody Slach or Cody Cree(949) 574-3860BFI@GatewayIR.com Company Contact:BurgerFi International Inc.IR@burgerfi.com Media Relations Contact:Quinn PRLaura Neroulias, LNeroulias@quinn.pr BurgerFi International Inc., and SubsidiariesCondensed Consolidated Balance Sheets (in thousands, except for per share data) March 31, 2021(unaudited) December 31, 2020ASSETS CURRENT ASSETS Cash $ 34,654 $ 37,150 Cash - restricted 2,124 3,233 Accounts receivable, net 695 718 Inventory 232 268 Deferred income taxes - 713 Asset held for sale 732 732 Other current assets 1,460 1,607 TOTAL CURRENT ASSETS 39,897 44,421 PROPERTY & EQUIPMENT, net 9,263 8,004 DUE FROM RELATED COMPANIES 97 74 GOODWILL 119,955 119,542 INTANGIBLE ASSETS 115,051 116,824 OTHER ASSETS 258 251 TOTAL ASSETS $ 284,521 $ 289,116 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable - trade $ 2,686 $ 1,678 Accrued expense 969 1,203 Other deposit 907 907 Other liabilities 803 430 Deferred initial franchise fees, current portion 466 490 Notes payable - current 1,203 1,438 Revolving line of credit - 3,012 TOTAL CURRENT LIABILITIES 7,034 9,158 NON-CURRENT LIABILITIES Deferred initial franchise fees, net of current portion 2,845 2,816 Warrant liability 21,462 16,516 Notes Payable 1,633 1,522 Deferred rent 160 29 TOTAL LIABILITIES 33,134 30,041 COMMITMENTS AND CONTINGENCIES Stockholders' equity Common stock, $0.0001 par value, 100,000,000 shares authorized, 17,830,507 and 17,541,838 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively. 2 2 Additional paid-in capital 261,820 261,298 Accumulated deficit (10,435) (2,225)TOTAL STOCKHOLDERS' EQUITY 251,387 259,075 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 284,521 $ 289,116 BurgerFi International Inc., and SubsidiariesConsolidated Statements of Operations As Opes Acquisition Corp.’s historical financial information is excluded from the Predecessor financial information, the business, and thus financial results, of the Successor and Predecessor entities, are expected to be largely consistent, excluding the impact on certain financial statement line items that were impacted by the Business Combination. Successor Predecessor(in thousands) Three Months Ended March 31, 2021(Unaudited) Three Months Ended March 31, 2020(Unaudited)REVENUE Restaurant sales $ 8,506 $ 6,123 Royalty and other fees 1,910 1,696 Royalty - brand development and co-op 511 417 Franchise fees 108 101 TOTAL REVENUE 11,035 8,337 Restaurant level operating expenses: Food, beverage and paper costs 2,432 1,844 Labor and related expenses 2,290 1,895 Other operating expenses 1,841 981 Occupancy and related expenses 792 569 General and administrative expenses 2,985 1,586 Share-based compensation expense 522 — Depreciation and amortization expense 2,108 244 Brand development and co-op advertising expense 722 470 TOTAL OPERATING EXPENSES 13,692 7,589 OPERATING (LOSS) INCOME (2,657) 748 Other income 114 59 Loss on change in value of warrant liability (4,946) — Interest expense (8) (30)(Loss) income before income taxes (7,497) 777 Income tax expense (713 ) — Net (Loss) income (8,210) 777 Net Income Attributable to Non-Controlling Interests (predecessor) — 5 Net (Loss) income Attributable to common shareholders (successor) and Controlling Interests (predecessor) $ (8,210) $ 772 BurgerFi International Inc., and SubsidiariesReconciliation of Net Income to Adjusted EBITDA(Non-GAAP) (Unaudited) Successor Predecessor Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (in thousands) (Unaudited) (Unaudited)(Loss) Income Attributable to Common Shareholders (successor) and Controlling Interests (predecessor) $ (8,210) $ 772 Adjustments: Depreciation and amortization 2,108 244Merger and acquisition related costs 429 —Preopening costs 126 59Interest expense 8 30Income tax 713 —Share-based compensation expense 522 —Gain on extinguishment of debt (114) —Loss on change in value of warrant liability 4,946 —Legal matters 200 —Adjusted EBITDA $ 728 $ 1,105

Forget the Spicy Chicken Sandwich Wars, BurgerFi Is About To Start the Battle of the Spicy Burger
09 Mar, 2021 Yahoo! Finance

BurgerFi Revives the Spicy Sandwich Wars With SWAG By Adding Spicy Wagyu Burger to Menus for a Limited Time BurgerFi Revives the Spicy Sandwich Wars With SWAG By Adding Spicy Wagyu Burger to Menus for a Limited Time Chicken can’t have all the fun; the better burger concept breaks the mold and challenges others to join in on the “Spicy Burger Wars” PALM BEACH, Fla., March 09, 2021 (GLOBE NEWSWIRE) -- After having nationwide success with the Spicy Fi’ed Chicken Sandwich, BurgerFi International Inc. (Nasdaq: BFI, BFIIW) is launching a new type of sandwich war and this one has to do with burgers. The SWAG burger (Spicy Wagyu Burger) will be added to BurgerFi menus nationwide for a limited time starting March 15, 2021 and ending May 9, 2021. While BurgerFi's menu is an array of chef-inspired selections and high-quality wagyu beef, it was only natural for the premium, fast casual concept to take it to the next level with a one of a kind spicy burger sensation. The SWAG burger features a double wagyu and brisket blend burger, charred jalapeños, candied ghost pepper bacon to pack the heat, sweet tomato relish to add a bit of sweet, habanero pepper jack cheese, and hot steak sauce. For the new product, BurgerFi initiated a consumer research study focused on the initial reaction to the product utilizing its savory description to test the appeal. They conducted a concept test on the flavor, build, product name and price. Over 2,500 participants were part of the study with approximately 500 people per concept tested. The research proved invaluable in determining the selection of wagyu beef versus angus beef in the burger. “BurgerFi’s foundation is burgers and because the spicy chicken wars have been part of the cultural conversation over the past few years, we wanted to bring the heat within a category that we pride ourselves in,” says Paul Griffin, BurgerFi’s Chief Culinary Officer who has been redefining the way their guests eat burgers since its inception in 2011. “Once we had the idea of the spicy burger, it was fun to start playing with ingredients and textures. The candied ghost pepper bacon is perfect for those guests who are more adventurous. That mixed with the boldness of wagyu and creaminess and kick of habanero pepper jack cheese really rounds out the burger to make it one of the most flavorful menu items created at BurgerFi.” From March 15, 2021 until May 9, 2021, the SWAG Burger will be available in-store, online and through the BurgerFi app, as well as through third party delivery, at participating locations. For more information and to find the nearest location, visit www.burgerfi.com and download the BurgerFi app. “The SWAG burger takes our unique wagyu beef offering featured in our CEO Burger and kicks it up a notch with different textures and flavors that create a daring spiciness with each bite,” says Julio Ramirez, BurgerFi’s CEO. “Creating this spicy burger sensation is another example of how we’re RedeFining the way the world eats burgers. BurgerFi will always find ways to continue to grow, pioneer trends and create iconic offerings as part of our mission to provide the best burger experience.” About BurgerFi International (Nasdaq: BFI, BFIIW)Established in 2011, BurgerFi is among the nation's fastest-growing better burger concepts with approximately 125 BurgerFi restaurants domestically and internationally. The concept is chef-founded and is committed to serving fresh food of transparent quality. BurgerFi uses 100% American angus beef with no steroids, antibiotics, growth hormones, chemicals or additives. BurgerFi's menu also includes high quality wagyu beef, antibiotic and cage-free chicken offerings, fresh, hand-cut sides and custard shakes and concretes. BurgerFi was named QSR Magazine's Breakout Brand of 2020, placed in the top 10 on Fast Casual's Top 100 Movers & Shakers list in 2020, was named "Best Burger Joint" by Consumer Reports and fellow public interest organizations in the 2019 Chain Reaction Study, listed as a "Top Restaurant Brand to Watch" by Nation's Restaurant News in 2019, included in Inc. Magazine's Fastest Growing Private Companies List, and ranked on Entrepreneur's 2017 Franchise 500. To learn more about BurgerFi or to find a full list of locations, please visit www.burgerfi.com. Download the BurgerFi App on iOS or Android devices for rewards and 'Like' BurgerFi on Facebook or follow @BurgerFi on Instagram and Twitter. BurgerFi® is a Registered Trademark of BurgerFi IP, LLC, a wholly-owned subsidiary of BurgerFi. Forward-Looking StatementsThis press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including BurgerFi's estimates of its future business outlook, prospects or financial results. Statements regarding BurgerFi's objectives, expectations, intentions, beliefs or strategies, or statements containing words such as "believe," "estimate," "project," "expect," "intend," "may," "anticipate," "plans," "seeks," "implies," or similar expressions are intended to identify such forward-looking statements. It is important to note that BurgerFi's actual results could differ materially from those in such forward-looking statements, and undue reliance should not be placed on such statements. Statements about the effects of the COVID-19 pandemic on our business, operations, financial performance and prospects may constitute forward-looking statements and are subject to the risk that the actual impacts may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond our control, including the scope and duration of the pandemic, actions taken by governmental authorities in response to the pandemic, and the direct and indirect impact of the pandemic. Among the important factors that could cause such actual results to differ materially are (i) the impact of any economic recessions in the U.S. and other parts of the world, (ii) fluctuations in the global economy, (iii) BurgerFi's ability of maintaining its margins, (iv) changes in applicable accounting principles or interpretations of such principles, (v) delays in BurgerFi's ability to develop new products and services and market acceptance of new products and services, (vi) rapid technological change, (vii) BurgerFi's ability to attract and retain key management personnel, (viii) the existence of substantial competition, and (ix) other risk factors listed from time to time in BurgerFi's Exchange Act reports and other filings with the Securities and Exchange Commission. All forward-looking statements included in this press release are made as of the date hereof, and BurgerFi undertakes no obligation to update any such forward-looking statements, whether as a result of new information, future events, or otherwise Investor Relations Contact:Gateway Investor RelationsCody Slach(949) 574-3860BFI@GatewayIR.com Company Contacts:BurgerFi International Inc.Ashley Spitz, IR@burgerfi.com Media Relations Contact:Quinn PRLaura Neroulias, LNeroulias@quinn.pr A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/de84513f-490f-4ca3-8a96-d78c56749610

BurgerFi Announces Appointment of Michael Rabinovitch to Chief Financial Officer
03 Mar, 2021 Yahoo! Finance

Rabinovitch To Officially Begin as CFO on April 1st, 2021 BurgerFi Announces Appointment of Michael Rabinovitch to Chief Financial Officer Rabinovitch To Officially Begin as CFO on April 1st, 2021 PALM BEACH, Fla., March 03, 2021 (GLOBE NEWSWIRE) -- BurgerFi International Inc. (Nasdaq: BFI, BFIIW), one of the nation’s fastest-growing premium fast-casual concepts and QSR’s 2020 Breakout Brand of the Year known for its better burgers, has hired Michael Rabinovitch as Chief Financial Officer. Rabinovitch holds over 25 years of extensive financial leadership skills from best-in-class publicly held retail and distribution companies, high growth retail concepts, extensive international experience and has completed and integrated over 25 acquisitions valued at over $2 billion dollars during his career. “As BurgerFi continues to accelerate its growth strategy, Michael’s extensive experience in acquisitions, business processes and managing the strong financial structure and growth of large public companies adds significant value to our organization,” said Ophir Sternberg, Executive Chairman of BurgerFi. “We are pleased to welcome Michael to BurgerFi and look forward to his leadership.” Rabinovitch joins BurgerFi after serving as Chief Accounting Officer at Tech Data Corporation (formerly Nasdaq: TECD), a $38 billion dollar, Fortune 100 global technology distributor. He also has held the positions of Chief Accounting Officer and Vice President of Finance for North America at Office Depot Inc. (Nasdaq: ODP) where he was responsible for all aspects of accounting policy and process including Sarbanes Oxley compliance. “Michael will develop trusted relationships with key stakeholders and teams while building confidence and transparency. I know he understands key metrics for value creation and will collaborate with our leadership to deliver outstanding results,” said Julio Ramirez, CEO of BurgerFi. “I am thrilled to have him as part of my talented executive team.” For nearly a decade, Rabinovitch served as Chief Financial Officer of Mayors Jewelers, Birks Group Inc., a (NYSEAMERICAN: BGI), with 77 locations across the United States and Canada. He was also the Vice President of Finance at Claire's Stores, Inc. during their years of rapid expansion and contributed to their growth from 1,200 to over 3,000 locations in 10 countries during his six year tenure with the brand. Rabinovitch began his career with Price Waterhouse (now PwC). He is a licensed certified public accountant (inactive). Rabinovitch has both Bachelor of Science degrees in accounting and finance from Florida State University and is an advisory board member of the School of Accounting at both Florida State University and University of South Florida. “I am excited to be joining BurgerFi and look forward to adding value to the company as they execute on their growth strategy,” said newly appointed CFO, Michael Rabinovitch. “I am looking forward to supporting the leadership team in implementing strategies that will drive profitability of the organization and shareholder value.” Rabinovitch replaces Bryan McGuire, Chief Financial Officer, effective April 1, 2021. During his time at BurgerFi, McGuire has helped the company maintain high standards of financial compliance and aided the company’s process to go public through a business combination via SPAC merger. McGuire will remain with BurgerFi to lead the company's quarter-close process and financial filings, working with Rabinovitch to ensure a seamless transition. About BurgerFi International (Nasdaq: BFI, BFIIW)Established in 2011, BurgerFi is among the nation's fastest-growing better burger concepts with approximately 125 BurgerFi restaurants domestically and internationally. The concept is chef-founded and is committed to serving fresh food of transparent quality. BurgerFi uses 100% American angus beef with no steroids, antibiotics, growth hormones, chemicals or additives. BurgerFi’s menu also includes high quality wagyu beef, antibiotic and cage-free chicken offerings, fresh, hand-cut sides and custard shakes and concretes. BurgerFi was named QSR Magazine’s Breakout Brand of 2020, placed in the top 10 on Fast Casual's Top 100 Movers & Shakers list in 2020, was named "Best Burger Joint" by Consumer Reports and fellow public interest organizations in the 2019 Chain Reaction Study, listed as a "Top Restaurant Brand to Watch" by Nation's Restaurant News in 2019, included in Inc. Magazine's Fastest Growing Private Companies List, and ranked on Entrepreneur's 2017 Franchise 500. To learn more about BurgerFi or to find a full list of locations, please visit www.burgerfi.com. Download the BurgerFi App on iOS or Android devices for rewards and 'Like' BurgerFi on Facebook or follow @BurgerFi on Instagram and Twitter. BurgerFi® is a Registered Trademark of BurgerFi IP, LLC, a wholly-owned subsidiary of BurgerFi. Forward-Looking Statements This press release may contain “forward-looking statements,” including BurgerFi’s estimates of its future business outlook, prospects or financial results. Statements regarding BurgerFi’s objectives, expectations, intentions, beliefs or strategies, or statements containing words such as “believe,” “estimate,” “project,” “expect,” “intend,” “may,” “anticipate,” “plans,” “seeks,” “implies,” or similar expressions are intended to identify such forward-looking statements. It is important to note that BurgerFi’s actual results could differ materially from those in such forward-looking statements, and undue reliance should not be placed on such statements. Statements about the effects of the COVID-19 pandemic on our business, operations, financial performance and prospects may constitute forward-looking statements and are subject to the risk that the actual impacts may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond our control, including the scope and duration of the pandemic, actions taken by governmental authorities in response to the pandemic, and the direct and indirect impact of the pandemic. Among the important factors that could cause such actual results to differ materially are (i) the impact of any economic recessions in the U.S. and other parts of the world, (ii) fluctuations in the global economy, (iii) BurgerFi’s ability of maintaining its margins, (iv) changes in applicable accounting principles or interpretations of such principles, (v) delays in BurgerFi’s ability to develop new products and services and market acceptance of new products and services, (vi) rapid technological change, (vii) BurgerFi’s ability to attract and retain key management personnel, (viii) the existence of substantial competition, and (ix) other risk factors listed from time to time in BurgerFi’s registration statements and reports as filed with the Securities and Exchange Commission. All forward-looking statements included in this press release are made as of the date hereof, and BurgerFi undertakes no obligation to update any such forward-looking statements, whether as a result of new information, future events, or otherwise. Investor Relations Contact:Gateway Investor RelationsCody Slach (949) 574-3860BFI@GatewayIR.com Company Contact:BurgerFi International Inc.Ashley Spitz, IR@burgerfi.com Media Relations Contact:Quinn Public RelationsLaura Neroulias, LNeroulias@quinn.pr A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8ae5bdbb-179a-44ea-a5a2-507cae35743e

BurgerFi Goes Public Following Completion of Business Combination with OPES Acquisition Corp.
17 Dec, 2020 FinancialContent

-The Better Burger Brand Commences Trading on Nasdaq Under “BFI” Ticker-

BurgerFi International, LLC (BFIIW) is a NASDAQ Common Stock listed in

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