BurgerFi International, Inc. (NASDAQ:BFI) Q1 2023 Earnings Conference Call May 16, 2023 4:30 PM ET

Company Participants

John Iannucci - Chief Operating Officer

Michael Rabinovitch - Chief Financial Officer

Conference Call Participants

Peter Saleh - BTIG

Mike Albanese - EF Hutton

Lynn Orenstein - Drexel Hamilton

Operator

Good afternoon, everyone, and thank you for participating in today's Conference Call to discuss BurgerFi International's Financial Results for the First Quarter ended April 3, 2023.

Joining us today are John Iannucci, COO and Michael Rabinovitch, CFO. Following their remarks, we'll open the lines for your questions.

Before we begin today, I want to remind everyone that this conference call may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be related to BurgerFi's estimates of its future business outlook, liquidity, store opening plans, same-store sales and restaurant operating margin growth plans, prospects or financial results, including the projected sales, restaurant EBITDA or financial results from the company's acquisition of Anthony's Coal Fired Pizza & Wings.

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 results and similar expressions. These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties, which could cause the company's 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 the annual report on Form 10-K for the year ended January 2, 2023, and those disclosed and other documents that the company files with the Securities and Exchange Commission.

All subsequent written and oral forward-looking statements attributed to BurgerFi or persons acting on BurgerFi's behalf are expressly qualified in their entirety by the cautionary statements included in this conference call. The company undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements except as required by law. Given these statements and uncertainties, listeners are cautioned not to place undue reliance on such forward-looking statements.

Also, the following discussion may contain non-GAAP financial measures. For a discussion and reconciliation of these non-GAAP financial measures, please see the earnings release for the first quarter 2023.

I would also like to remind everyone that this call will be available via telephonic replay for two weeks starting today. A webcast replay will also be available via the link provided in today's press release, as well as on the company's website at www.burgerfi.com. As a result, today's call is being recorded.