7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 
      
    		                               
      assets
    		                               
      current assets:
    		                               
      cash and cash equivalents
    		51,587,000 92,388,000 70,208,000 54,280,000 47,544,000 23,643,000 51,089,000 41,956,000 35,203,000 19,131,000 24,588,000 28,743,000 46,107,000 31,121,000 21,187,000 28,526,000 25,512,000 34,975,000 30,797,000 24,913,000 19,957,000 54,318,000 10,831,000 14,337,000 10,820,000 8,427,000 18,417,000 18,635,000 18,067,000 18,938,455 6,331,916 
      restricted cash
    		2,933,000 3,234,000 2,363,000 3,693,000 2,568,000 2,642,000 2,028,000 2,091,000 1,858,000 1,790,000 1,590,000 1,644,000 2,263,000 2,427,000 1,492,000 1,953,000 1,179,000 1,551,000 1,158,000 1,323,000 1,378,000 1,488,000 1,119,000 923,000 728,000 579,000 352,000 376,000 533,000 616,414 609,632 
      commissions and agency fees receivable
    		12,310,000 10,597,000 8,156,000 31,375,000 9,679,000 8,820,000 7,487,000 12,903,000 12,327,000 10,459,000 7,108,000 14,440,000 11,271,000 9,161,000 8,804,000 12,056,000 8,349,000 6,063,000 4,895,000 18,604,000 11,793,000 7,628,000 4,655,000 6,884,000 2,181,000 2,392,000 2,328,000 2,016,000 1,813,000 1,958,539 1,767,765 
      receivable from franchisees
    		11,977,000 11,323,000 12,178,000 11,077,000 11,261,000 11,046,000 10,034,000 9,720,000 9,147,000 9,489,000 8,928,000 4,932,000 2,929,000 1,206,000 252,000 493,000 866,000 2,724,000 3,379,000 2,100,000 2,414,000 3,944,000 2,859,000 2,602,000 1,474,000 1,429,000 935,000 703,000 583,000 396,922 579,681 
      prepaid expenses
    		14,276,000 17,626,000 22,498,000 8,139,000 5,701,000 6,546,000 6,296,000 7,889,000 9,445,000 12,046,000 13,279,000 4,334,000 5,573,000 7,195,000 10,458,000 4,785,000 6,487,000 7,394,000 7,575,000 3,705,000 3,903,000 4,981,000 5,755,000 1,987,000 1,829,000 1,221,000 1,276,000 1,109,000 947,000 937,826 740,050 
      total current assets
    		93,083,000 135,168,000 115,403,000 108,564,000 76,753,000 52,697,000 76,934,000 74,559,000 67,980,000 52,915,000 55,493,000 54,093,000 68,143,000 51,110,000 42,193,000 47,813,000 42,393,000 52,707,000 47,804,000 50,645,000 39,445,000 72,359,000 25,219,000 26,733,000 17,101,000 14,048,000 29,270,000 22,839,000 21,943,000 22,848,156 13,242,392 
      receivable from franchisees, net of current portion
    		3,078,000 3,082,000 3,583,000 3,469,000 3,644,000 5,994,000 6,586,000 9,269,000 12,411,000 15,446,000 17,543,000 23,835,000 28,126,000 30,689,000 31,537,000 29,180,000 25,734,000 23,354,000 20,423,000 18,179,000 15,023,000 13,199,000 11,477,000 11,014,000 2,607,000 2,517,000 2,351,000 2,048,000 1,930,000 1,841,844 1,679,478 
      property and equipment
    		21,868,000 21,967,000 23,455,000 24,101,000 25,369,000 27,014,000 28,686,000 30,316,000 31,707,000 33,176,000 36,564,000 35,347,000 35,219,000 27,571,000 25,257,000 24,933,000 21,794,000 22,618,000 17,671,000 16,650,000 12,365,000 12,349,000 9,999,000 9,542,000 9,610,000 8,417,000 8,435,000 7,575,000 6,943,000 6,934,029 6,866,621 
      right-of-use asset
    		32,521,000 32,266,000 36,111,000  34,134,000 35,475,000 37,121,000  39,846,000 41,177,000 42,725,000  42,528,000 41,418,000 37,421,000  35,384,000 34,207,000 23,033,000             
      intangible assets, net of accumulated amortization
    		34,373,000 30,329,000 27,094,000 25,075,000 23,230,000 21,269,000 18,783,000 17,266,000 14,785,000 12,384,000 5,172,000 4,487,000 4,334,000 3,749,000 3,399,000 2,798,000 2,256,000 1,756,000 639,000 549,000 554,000 491,000 475,000 445,000 442,000 413,000 266,000 248,000 253,000 241,286 235,878 
      deferred income taxes
    		212,632,000 207,521,000 200,574,000 193,478,000 190,368,000 191,275,000 193,518,000 181,209,000 170,761,000 164,549,000 159,468,000 155,318,000 140,244,000 131,164,000 128,977,000 125,676,000 114,376,000 98,114,000 77,753,000 73,363,000 48,777,000 41,424,000 26,900,000 15,537,000 14,503,000 12,498,000 7,950,000 1,958,000 36,000 90,532  
      other assets
    		6,041,000 6,254,000 6,336,000 5,546,000 4,565,000 4,483,000 4,581,000 3,867,000 3,967,000 3,532,000 4,617,000 4,193,000 5,394,000 5,585,000 6,487,000 4,742,000 5,203,000 5,247,000 5,283,000 3,938,000 3,790,000 2,767,000 1,818,000 1,357,000 69,000 199,000 130,000 130,000 130,000 149,806 3,213,348 
      total assets
    		403,596,000 436,587,000 412,556,000 397,653,000 358,063,000 338,207,000 366,209,000 354,892,000 341,457,000 323,179,000 321,582,000 321,353,000 323,988,000 291,286,000 275,271,000 267,798,000 247,140,000 238,003,000 192,606,000 185,837,000 119,954,000 142,589,000 75,888,000 64,628,000 44,421,000 38,092,000 48,402,000 34,798,000 31,199,000 32,015,121 22,203,444 
      liabilities and stockholders’ equity
    		                               
      current liabilities:
    		                               
      accounts payable and accrued expenses
    		25,045,000 23,173,000 20,377,000 22,891,000 19,259,000 16,141,000 14,652,000 16,398,000 14,779,000 14,238,000 14,237,000 15,958,000 13,500,000 5,753,000 6,742,000 10,502,000 10,643,000 7,884,000 7,179,000 8,101,000 5,210,000 4,152,000 4,515,000 5,033,000 4,355,000 3,177,000 3,753,000 3,978,000 3,015,000 4,305,386 4,925,944 
      premiums payable
    		2,933,000 3,234,000 2,363,000 3,693,000 2,568,000 2,642,000 2,028,000 2,091,000 1,858,000 1,790,000 1,590,000 1,644,000 2,263,000 2,427,000 1,492,000 1,953,000 1,179,000 1,551,000 1,158,000 1,323,000 1,378,000 1,488,000 1,119,000 923,000 728,000 579,000 352,000 376,000 533,000 616,414 609,632 
      lease liability
    		6,659,000 6,357,000 5,901,000 6,535,000 9,297,000 9,174,000 9,194,000 8,897,000 8,749,000 8,468,000 8,218,000 6,627,000 6,776,000 6,026,000 5,634,000 4,893,000 4,400,000 4,360,000 3,358,000 3,203,000            
      contract liabilities
    		3,401,000 3,478,000 2,743,000 3,275,000 3,337,000 3,456,000 3,611,000 4,129,000 4,831,000 5,207,000 5,394,000 6,031,000 6,224,000 6,363,000 6,214,000 6,054,000 5,646,000 5,189,000 4,744,000 4,233,000 3,729,000 3,365,000 3,006,000 2,771,000        
      note payable
    		2,993,000 3,000,000 3,000,000 10,063,000 10,063,000 10,063,000 10,000,000 9,375,000 8,750,000 8,125,000 7,500,000 6,875,000 6,250,000 5,625,000 5,000,000 4,375,000 3,750,000 5,000,000 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 4,000,000 3,500,000 3,000,000 2,750,000 2,500,000 2,250,000 500,000 500,000 
      liabilities under tax receivable agreement
    		7,117,000 6,993,000 6,993,000  4,948,000 4,952,000 4,952,000  139,909,000 133,696,000 128,773,000  112,394,000 105,312,000 103,194,000                 
      total current liabilities
    		48,148,000 46,235,000 41,377,000 46,457,000 49,472,000 46,428,000 44,437,000 40,890,000 38,967,000 37,828,000 36,939,000 37,135,000 35,013,000 26,194,000 25,082,000 27,777,000 25,618,000 23,984,000 20,439,000 20,360,000 14,198,000 12,386,000 11,343,000 13,410,000 9,545,000 7,753,000 22,674,000 7,812,000 6,844,000 6,352,650 7,271,300 
      lease liability, net of current portion
    		50,992,000 51,925,000 53,116,000 54,536,000 50,249,000 52,614,000 55,233,000 57,382,000 59,687,000 61,662,000 62,246,000 64,947,000 64,181,000 57,169,000 52,363,000 47,335,000 47,200,000 48,549,000 33,310,000 32,933,000            
      note payable, net of current portion
    		290,004,000 289,777,000 290,333,000 82,251,000 84,639,000 87,028,000 65,118,000 67,562,000 70,005,000 72,449,000 84,893,000 86,711,000 113,530,000 115,349,000 117,167,000 118,361,000 119,555,000 76,539,000 78,474,000 79,408,000 80,332,000 81,272,000 44,383,000 42,161,000 43,355,000 44,554,000 45,251,000 45,947,000 46,644,000 48,004,034 48,079,733 
      contract liabilities, net of current portion
    		14,084,000 14,436,000 15,677,000 15,191,000 15,710,000 16,663,000 18,121,000 22,970,000 27,128,000 30,992,000 34,715,000 40,522,000 44,535,000 46,009,000 45,362,000 42,554,000 38,963,000 36,200,000 33,010,000 29,968,000 25,855,000 23,395,000 21,079,000 20,024,000        
      liabilities under tax receivable agreement, net of current portion
    		171,088,000 164,808,000 157,568,000 160,142,000 155,748,000 155,207,000 155,060,000 149,302,000    125,662,000    100,959,000 91,488,000 80,232,000 63,678,000 61,572,000 41,494,000 35,151,000 22,339,000 13,359,000 12,659,000 10,817,000 6,854,000 1,694,000    
      total liabilities
    		574,316,000 567,181,000 558,071,000 358,577,000 355,818,000 357,940,000 337,969,000 338,106,000 335,696,000 336,627,000 347,566,000 354,977,000 369,653,000 350,033,000 343,168,000 336,986,000 322,824,000 265,504,000 228,911,000 224,241,000 169,386,000 159,775,000 105,876,000 95,635,000 72,271,000 68,640,000 80,253,000 60,001,000 57,720,000 58,699,236 59,568,582 
      class a common stock
    		250,000 254,000 251,000 247,000 244,000 242,000 252,000 250,000 244,000 237,000 231,000 228,000 210,000 203,000 201,000 200,000 196,000 191,000 184,000 183,000 175,000 171,000 160,000 152,000 152,000 150,000 145,000 138,000 135,000 135,333  
      class b common stock
    		119,000 122,000 125,000 126,000 127,000 127,000 128,000 130,000 134,000 139,000 143,000 146,000 163,000 168,000 169,000 170,000 173,000 176,000 183,000 184,000 191,000 194,000 202,000 210,000 210,000 212,000 217,000 224,000 227,000 227,467  
      additional paid-in capital
    		40,440,000 74,730,000 69,925,000 58,917,000                            
      accumulated deficit
    		-145,787,000 -153,695,000 -158,845,000 -15,401,000 -31,029,000 -38,349,000 -45,459,000 -47,056,000 -50,546,000 -57,565,000 -60,754,000 -60,570,000 -61,282,000 -63,290,000 -63,406,000 -60,671,000 -61,049,000 -33,527,000 -35,008,000 -34,614,000 -37,102,000 -20,525,000 -23,967,000 -23,811,000 -22,350,000 -9,165,000 -10,068,000 -6,578,000 -6,668,000 -7,558,112  
      total stockholders' equity
    		-104,978,000 -78,589,000 -88,544,000  58,347,000 39,768,000 67,349,000  46,584,000 29,670,000 17,189,000  6,329,000 -3,977,000 -10,447,000  -18,860,000 3,419,000 -2,349,000  -12,135,000 1,188,000 -7,714,000  -8,196,000 76,418,000 76,777,000     
      noncontrolling interests
    		-65,742,000 -52,005,000 -56,971,000 -4,813,000                            
      total equity
    		-170,720,000 -130,594,000 -145,515,000 39,076,000 2,245,000 -19,733,000 28,240,000 16,786,000 5,761,000 -13,448,000 -25,984,000 -33,624,000 -45,665,000 -58,747,000 -67,897,000 -69,188,000 -75,684,000 -27,501,000 -36,305,000 -38,404,000 -49,432,000 -17,186,000 -29,988,000 -31,007,000 -27,850,000 -30,548,000 -31,851,000 -25,203,000 -26,521,000 -26,684,115  
      total liabilities and equity
    		403,596,000 436,587,000 412,556,000 397,653,000 358,063,000 338,207,000 366,209,000 354,892,000 341,457,000 323,179,000 321,582,000 321,353,000 323,988,000 291,286,000 275,271,000 267,798,000 247,140,000 238,003,000 192,606,000 185,837,000 119,954,000 142,589,000 75,888,000 64,628,000    34,798,000    
      right-of use asset
    		   37,420,000    38,406,000    44,080,000    32,656,000    22,513,000            
      commitments and contingencies
    		                               
      total stockholders' equity and members' deficit
    		   43,889,000    56,552,000    10,670,000    -14,020,000    -4,876,000    -9,007,000    82,595,000 82,953,000 81,838,380  
      additional paid in capital
    		    89,005,000 77,748,000 112,428,000 103,228,000 96,752,000 86,859,000 77,569,000 70,866,000 67,238,000 58,942,000 52,589,000 46,281,000 41,820,000 36,579,000 32,292,000 29,371,000 24,601,000 21,348,000 15,891,000 14,442,000 13,792,000 85,221,000 86,483,000 88,811,000 89,259,000 89,033,692  
      non-controlling interests
    		    -56,102,000 -59,501,000 -39,109,000 -39,766,000 -40,823,000 -43,118,000 -43,173,000 -44,294,000 -51,994,000 -54,770,000 -57,450,000 -55,168,000 -56,824,000 -30,920,000 -33,956,000 -33,528,000 -37,297,000 -18,374,000 -22,274,000 -22,000,000 -19,654,000 -106,966,000 -108,628,000 -107,798,000 -109,474,000 -108,522,495  
      deferred rent
    		                    881,000 881,000 703,000 683,000 632,000 502,000 487,000 428,000 496,000 420,850 460,674 
      deferred rent, net of current portion
    		                    7,507,000 7,571,000 6,732,000 6,681,000 6,712,000 5,516,000 5,474,000 4,548,000 4,196,000 4,252,020 4,217,549 
      unearned revenue
    		                        330,000 495,000 332,000 530,000 550,000 510,000 775,050 
      total liabilities and stockholders' equity
    		                        44,421,000 38,092,000 48,402,000  31,199,000 32,015,121  
      dividends held by transfer agent
    		                          5,962,000     
      dividends payable
    		                          15,000,000     
      members’ deficit
    		                              -37,365,138 
      current assets
    		                               
      liabilities and members’ equity
    		                               
      total liabilities and members’ deficit
    		                              22,203,444 
      revenues:
    		                               
      commissions and agency fees
    		                              9,595,576 
      franchise revenues
    		                              4,910,528 
      interest income
    		                              82,777 
      total revenues
    		                              14,588,881 
      operating expenses:
    		                               
      employee compensation and benefits
    		                              6,835,424 
      general and administrative expenses
    		                              2,373,622 
      bad debts
    		                              279,688 
      depreciation and amortization
    		                              336,935 
      total operating expenses
    		                              9,825,669 
      income from operations
    		                              4,763,212 
      other income:
    		                               
      interest expense
    		                              -995,402 
      net income
    		                              3,767,810 
      pro forma earnings per share:
    		                               
      basic
    		                              0.08 
      diluted
    		                              0.08 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.