Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 30, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-38250 FAT Brands Inc. (Exact name of registrant as specified in its charter) Delaware 82-1302696 (State or other jurisdiction of incorporation o ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $142 million, a 6.5% decrease from $152 million in the same period last year [11][28] - Adjusted EBITDA was $11.1 million compared to $18.2 million in the previous year [12][30] - Net loss attributable to FAT Brands was $46 million or $2.73 per diluted share, compared to a net loss of $38.3 million or $2.37 per share in the prior year [29] Business Line Data and Key Metrics Changes - System-wide sales were $571.1 million, down 1.8% compared to the previous year's quarter [12] - Casual Dining segment saw same store sales increase approximately 1.6%, driven by Buffalo's Cafe and Ponderosa and Bonanza locations [13] - Factory revenue decreased by about 7% [50] Market Data and Key Metrics Changes - Domestic system-wide sales outperformed international sales, although there was a rebound in international locations towards the end of Q1 [12] - Digital sales at Roundtable Pizza increased by 5% sequentially from Q4 2024 to Q1 2025 [15] Company Strategy and Development Direction - The company is focused on expanding its brand presence with over 1,000 new locations in the pipeline and evaluating strategic acquisitions [13][16] - A remodeling initiative aims to refresh 5% of all stores in 2025, increasing to 10% in 2026 [17] - The company is enhancing production capabilities at its Georgia facility, targeting increased utilization from 40-45% to 60-70% [24] Management's Comments on Operating Environment and Future Outlook - Management noted that consumer confidence is mixed, with consumers being apprehensive and focused on value [38] - The company is committed to debt reduction and leveraging growth opportunities, with a focus on maximizing shareholder value [27] - Management expressed confidence in achieving full annual equity target raises despite current market volatility [10][42] Other Important Information - The company has temporarily paused FAT's common dividend and started accruing the FAT Series B preferred dividend [10] - The spin-off of Twin Hospitality Group Inc. was completed, allowing shareholders to invest directly in Twin Peaks growth [7] Q&A Session Summary Question: Impact of cookie facility utilization increase - Management aims to increase the facility's revenue from $15 million to $25 million annually with improved contracts [32][36] Question: Consumer focus on value - Management indicated that consumers are looking for great food and experiences to justify prices, and this trend is expected to continue [39][40] Question: Delay in equity raise post-Twin Peaks IPO - Management stated that there are no immediate pressures, and they are waiting for market conditions to improve [41][42] Question: Year-over-year impact of Smoky Bones - Management estimated a couple million dollars negative impact from Smoky Bones on adjusted EBITDA [66] Question: Timeline for new CEO search - The executive search for a new CEO is progressing well, with several excellent candidates [72] Question: Incremental adjusted EBITDA from new stores and factory - Management expects the additional $15 million in adjusted EBITDA to materialize over the next couple of years [73]

MAY 8, 2025 LEGAL DISCLAIMER This earnings supplement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the future financial and operating results of the Company, estimates of future EBITDA, the timing and performance of new store openings, future reductions in cost of capital and leverage ratio, our ability to conduct future accretive acquisitions and our pipeline of new store locations. Forward-looking statement ...

Exhibit 99.1 FAT BRANDS INC. REPORTS FIRST QUARTER 2025 FINANCIAL RESULTS Conference call and webcast today at 5:30 p.m. ET LOS ANGELES (May 8, 2025) – FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) ("FAT Brands" or the "Company") today reported financial results for the fiscal first quarter ended March 30, 2025. Andy Wiederhorn, Chairman of FAT Brands, said, "We started 2025 with strong momentum, opening 23 new locations in the first quarter, a 37% increase over last year's quarter. We remain on ...

Conference call and webcast today at 5:30 p.m. ET LOS ANGELES, May 08, 2025 (GLOBE NEWSWIRE) -- FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”) today reported financial results for the fiscal first quarter ended March 30, 2025. Andy Wiederhorn, Chairman of FAT Brands, said, “We started 2025 with strong momentum, opening 23 new locations in the first quarter, a 37% increase over last year’s quarter. We remain on track to achieve our target of over 100 new restaurant o ...

LOS ANGELES, May 07, 2025 (GLOBE NEWSWIRE) -- FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) ("FAT Brands" or the "Company"), a leading global franchising company and parent company of iconic brands including Round Table Pizza, Fatburger, Johnny Rockets, Twin Peaks, Fazoli's and 13 other restaurant concepts, today announced that the Company will host a conference call to review its first quarter 2025 financial results on Thursday, May 8, 2025 at 5:30 PM ET. A press release with first quarter 2025 ...

Core Insights - Fazoli's, a fast and fresh Italian chain owned by FAT Brands Inc., is launching a limited-time offer of loaded ravioli entrees available until June 30, 2025, featuring four unique dishes [1][2] Product Offerings - The new ravioli dishes include: - Fresh-Tossed Ravioli: Cheese ravioli with a choice of sauce and Parmesan Spice Blend [3] - Three Meat Ravioli: Cheese ravioli in meat sauce, topped with Italian sausage, bacon, and a blend of cheeses [3] - Chicken Ravioli Alfredo: Cheese ravioli in creamy Alfredo sauce, topped with breaded chicken and cheeses [4] - Garlic Chicken Ravioli: Cheese ravioli with ricotta, garlic Parmesan Alfredo sauce, and roasted chicken [4] - The Fresh-Tossed Ravioli option starts at $5.99 and includes unlimited breadsticks when dining in [2] Dessert Offering - Fazoli's has reintroduced its Orange Cream Cheesecake, featuring layers of vanilla and orange cheesecake, whipped cream, and white chocolate shavings, complementing the new ravioli dishes [5] Company Background - Fazoli's was founded in 1988 and operates over 200 restaurants across 26 states, making it the largest QSR Italian chain in America [9] - The company emphasizes quality Italian food served quickly and affordably, with a focus on customer experience [6][9] Parent Company Overview - FAT Brands is a global franchising company that owns and operates 18 restaurant brands, including Fazoli's, and has over 2,300 units worldwide [8]

Company Leadership Transition - FAT Brands Inc. has appointed Taylor Wiederhorn as Co-Chief Executive Officer, effective April 29, 2025, while Rob Rosen transitions to a consulting role focused on debt and capital markets [1][2] - Ken Kuick will continue to serve as Co-Chief Executive Officer and Chief Financial Officer alongside Wiederhorn [1] Background of New Co-CEO - Taylor Wiederhorn has served as Chief Development Officer for the past eight years, overseeing the sale of thousands of new franchise locations across the company's portfolio [2] - In 2023, Wiederhorn assumed the role of brand CEO for 15 of FAT Brands' concepts, indicating a strong background in brand management and development [2] Company Overview - FAT Brands is a leading global franchising company that owns 18 restaurant brands, including Round Table Pizza, Fatburger, and Johnny Rockets, and operates over 2,300 units worldwide [3] - The company focuses on acquiring, marketing, and developing various dining concepts, ranging from fast casual to polished casual dining [3]

For more information on Pretzelmaker, visit www.pretzelmaker.com. About FAT (Fresh. Authentic. Tasty.) Brands FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli's, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a ...

Company Overview - Pretzelmaker is a brand owned by FAT Brands Inc., known for its innovative Pretzel Bites and has been in operation since 1991 [5][6] - The company operates nearly 200 locations worldwide and focuses on fresh, hand-rolled snacks and all-natural lemonade [6] National Pretzel Day Promotion - To celebrate National Pretzel Day on April 26, Pretzelmaker is offering a free order of Small Original Pretzel Bites, either salted or unsalted, at participating locations [1] - Additionally, Pretzelmaker is hosting a "National Pretzel Day After Party," where customers who sign up for the Rewards App by April 26 will receive $5 off orders of $20 or more starting April 27, valid for 14 days [2] Marketing Strategy - The Vice President of Marketing for Pretzelmaker, Katie Thoms, emphasized the company's commitment to customer satisfaction and joy through their products [3] - The promotional offers aim to enhance customer engagement and loyalty, encouraging repeat visits and app sign-ups [2][3]