BurgerFi reports preliminary Q4 revenue $42M

Preliminary Outcomes for the Fourth Quarter 2023 are as Follows: Consolidated systemwide restaurant sales of approximately $65 million; Corporate-owned same-store sales decreased 3% at Anthony’s; Systemwide same-store sales decreased 9% at BurgerFi. Christopher Jones, Chief Financial Officer of BurgerFi, noted, “We have started to see early signs of improvement across the business. During the fourth quarter we saw encouraging trends, despite the larger headwinds that the industry has experienced in Southern Florida, with strong performance from the Anthony’s brand during the holidays, including a positive sequential improvement in sales and traffic in 4Q23 vs 3Q23. Performance continues to be volatile at BurgerFi, though followed a similar positive trend with sequential improvement in traffic and comp store sales at both company and franchise locations. Looking forward, we expect the BurgerFi concept to generate positive same store sales and EBITDA in the second half of 2024 and for Anthony’s to deliver positive same-store sales and EBITDA throughout 2024. We are also in discussions with several interested parties for a multi-unit Anthony’s franchise deal.”