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Private company

BurgerFi International, Inc.

American retail-eating places company based in North Palm Beach1

In its 2024 annual report the company says: “We are a leading multi-brand restaurant company that develops, markets and acquires fast-casual and premium-casual dining restaurant concepts around the world, including corporate-owned stores and franchises. It offers a classic American menu of premium burgers, hot dogs, crispy chicken, frozen custard, hand-cut fries, shakes, beer, wine and more.”4

Last updated Oct 21, 2026.

Overview

$160.8MRevenue, fiscal 20242
-$30.7MNet income, fiscal 20242
  • IndustryRetail-Eating Places1
  • HeadquartersFort Lauderdale, Florida1
  • Incorporated inDE3
  • Business address200 West Cypress Creek Road, Suite 220, Fort Lauderdale, Fl 333093
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation

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On November 3, 2021, BurgerFi International, Inc. acquired 100% of the outstanding shares (the “ Anthony's Acquisition ”) of Hot Air, Inc., a Delaware corporation ( "Hot Air" ) from Cardboard Box LLC, a Delaware limited liability company ( "Cardboard" ). Hot Air, through its subsidiaries, owns the business of operating upscale casual dining restaurants in the specialty pizza and wings segment under the name "Anthony's Coal Fired Pizza & Wings" ( "Anthony's" ).4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-13.7%Operating margin2
-19.1%Net margin2
-3.8%Revenue growth, 20242
-53.6%Return on equity2
-$7.9MFree cash flow2

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Other costs94¢$151.9M
  • Interest5¢$8.8M
  • Income tax0¢$65.0K

Out of $160.8M in revenue.2 The company lost money this year.

Financial statements

Revenue5672$160.8M in 2024+379% since 2019
0$50.0M$100.0M$150.0M$200.0M2019: $33.6M$33.6M20192020: $23.7M$23.7M2020−29%2021: $57.8M$57.8M2021+144%2023: $167.2M$167.2M2023+189%2024: $160.8M$160.8M2024−4%
Operating income85672-$22.0M in 2024+3881% since 2018
-$150.0M-$100.0M-$50.0M0$50.0M2018: -$553.5K-$553.5K20182019: $3.0M$3.0M20192020: $758.0K$758.0K2020−75%2021: -$135.6M-$135.6M20212023: -$100.0M-$100.0M2023−26%2024: -$22.0M-$22.0M2024−78%
Net income85672-$30.7M in 2024
-$150.0M-$100.0M-$50.0M0$50.0M2018: $1.0M$1.0M20182019: $2.9M$2.9M2019+187%2020: $615.0K$615.0K2020−79%2021: -$121.5M-$121.5M20212023: -$103.4M-$103.4M2023−15%2024: -$30.7M-$30.7M2024−70%
Fiscal year20172018201920202021202220232024
Revenue$33.6M5$23.7M6$57.8M7$167.2M2$160.8M2
Operating income-$553.5K8$3.0M5$758.0K6-$135.6M7-$100.0M2-$22.0M2
Interest$79.0K5$125.0K6$1.4M7$8.7M2$8.8M2
Income before tax-$121.2M7-$103.5M2-$30.8M2
Income tax$276.8K8$416.1K8$06$312.0K7-$95.0K2-$65.0K2
Net income$1.0M8$2.9M5$615.0K6-$121.5M7-$103.4M2-$30.7M2
Earnings per share-$6.607-$4.662-$1.202
Earnings per share (diluted)-$7.207-$4.662-$1.202
Shares (weighted, basic)18.4M shares722.2M shares225.5M shares2
Shares (weighted, diluted)18.6M shares722.2M shares225.5M shares2

Compare BurgerFi International, Inc. with another company

Corporate structure

BurgerFi International, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of BurgerFi International, Inc.

  • CP7 Warming Bag, L.P. Filed SCHEDULE 13D/A on BurgerFi International, Inc., latest Mar 19, 2025 (2 filings since Mar 1, 2023)
  • Lion Point Capital, LP Filed SC 13G/A on BurgerFi International, Inc., latest Nov 14, 2024
  • Walleye Capital LLC Filed SC 13G/A on BurgerFi International, Inc., latest Feb 14, 2024 (3 filings since Feb 15, 2023)
  • CG2 Capital LLC Filed SC 13G/A on BurgerFi International, Inc., latest Jul 13, 2023
  • Shehzaan Chunara Filed SC 13G on BurgerFi International, Inc., latest Jul 12, 2023
  • JOHN ROSATTI REVOCABLE TRUST Filed SC 13D/A on BurgerFi International, Inc., latest Apr 21, 2023 (6 filings since Mar 11, 2022)
  • Ionic Capital Management LLC Filed SC 13G/A on BurgerFi International, Inc., latest Feb 14, 2023 (2 filings since Feb 14, 2022)
  • Cardboard Box LLC Filed SC 13D/A on BurgerFi International, Inc., latest Nov 7, 2022 (3 filings since Nov 15, 2021)
  • BurgerFi International, Inc. Fort Lauderdale, Florida

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What BurgerFi International, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Finance-lease assets$1.1M2 Jan 1, 2024$852.0K2 Jan 2, 2023+31.0%
Operating-lease assets (leased space)$46.1M2 Jan 1, 2024$45.7M2 Jan 2, 2023+0.7%

Real estate and locations

ItemLatestA year beforeChange
Stores1682 Jan 1, 20241742 Jan 2, 2023−3.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$7.6M2 Jan 1, 2024$11.9M2 Jan 2, 2023−36.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$31.6M2 Jan 1, 2024$31.6M2 Jan 2, 20230%
Intangible assets, net (excluding goodwill)$150.9M2 Jan 1, 2024$160.2M2 Jan 2, 2023−5.8%
Finite-lived intangibles, gross$177.6M2 Jan 1, 2024$177.6M2 Jan 2, 20230%
Accumulated amortization$24.8M2 Jan 1, 2024$16.3M2 Jan 2, 2023+52.0%
Finite-lived intangibles, net$145.0M2 Jan 1, 2024$153.5M2 Jan 2, 2023−5.5%

Inventory

ItemLatestA year beforeChange
Inventory, total$1.2M2 Jan 1, 2024$1.3M2 Jan 2, 2023−9.8%

Leadership

Who has led BurgerFi International, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. White Jose Antonio Canedo2018–2019
  2. David J. Mack2019
  3. Julio A. Ramirez2021
  4. Ian Baines2021
  5. Carl J. Bachmann Iii.2023–2024

Chair

  1. Ophir Sternberg2020–2024

President

  1. Ian Baines2021
  2. Patrick Renna2021

Chief financial officer

  1. Vargas Miguel Angel Villegas2018–2019
  2. Vera Jose Luis Cordova2019–2020
  3. Bryan Gerard McGuire2020
  4. Michael Rabinovitch2021–2023

Chief operating officer

  1. James R. Esposito2021
  2. John Iannucci2023
20202025
Board members and other officers (26)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorGregory Mann named Nov 18, 202149

Former names

  • Opes Acquisition Corp.Nov 22, 2017 to Dec 16, 20203

Timeline

  1. Mar 18, 20258-K Bankruptcy or receivership; Change to shareholders' rights; Change in control50
  2. Feb 25, 20258-K Bankruptcy or receivership; Other events51
  3. Feb 10, 20258-K Bankruptcy or receivership; Other events52
  4. Dec 2, 20248-K Entered a material agreement; Bankruptcy or receivership; Executive or director change53
  5. Sep 17, 20248-K Entered a material agreement; Bankruptcy or receivership; Debt or obligation accelerated54
  6. Aug 30, 20248-K Entered a material agreement; Listing notice or transfer; Executive or director change55
  7. Aug 20, 20248-K Executive or director change56
  8. Aug 15, 20248-K Entered a material agreement; New debt or obligation57
  9. Jul 25, 20248-K Entered a material agreement; New debt or obligation; Unregistered sale of shares58
  10. Jul 24, 20248-K Listing notice or transfer59
  11. Jun 7, 20248-K Shareholder vote60
  12. May 30, 20248-K Entered a material agreement; New debt or obligation; Executive or director change61
  13. Jul 10, 2023New chief executive Carl J. Bachmann Iii. becomes CEO13
  14. Nov 15, 2021New chief executive Ian Baines becomes CEO15
  15. Jan 6, 2021New chief executive Julio A. Ramirez becomes CEO14
  16. Nov 1, 2019New chief executive David J. Mack becomes CEO16
  17. Mar 13, 2018New chief executive White Jose Antonio Canedo becomes CEO17

Calendar

When it reported results

  1. May 15, 2024Reported quarterly or annual results62
  2. Apr 1, 2024Reported quarterly or annual results63
  3. Jan 8, 2024Reported quarterly or annual results64
  4. Nov 15, 2023Reported quarterly or annual results65
  5. Aug 16, 2023Reported quarterly or annual results66
  6. May 16, 2023Reported quarterly or annual results67
  7. Mar 22, 2023Reported quarterly or annual results68
  8. Jan 9, 2023Reported quarterly or annual results69

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

364 filings to the SEC since October 2021: 3 annual reports, 8 quarterly reports, 74 major events, 199 insider forms, 19 large holders, 1 private raises, 60 other. The latest 20:

  1. Mar 19, 2025SCHEDULE 13D/A EDGAR
  2. Mar 18, 20258-K EDGAR
  3. Feb 25, 20258-K EDGAR
  4. Feb 10, 20258-K EDGAR
  5. Dec 2, 20248-K EDGAR
  6. Nov 14, 2024SC 13G/A EDGAR
  7. Sep 17, 20248-K EDGAR
  8. Sep 5, 20243 EDGAR
  9. Aug 30, 20248-K CURRENT REPORT EDGAR
  10. Aug 22, 20243 EDGAR
  11. Aug 22, 20243 EDGAR
  12. Aug 20, 20248-K EDGAR
  13. Aug 16, 2024NT 10-Q EDGAR
  14. Aug 15, 20248-K EDGAR
  15. Jul 25, 20248-K EDGAR
  16. Jul 24, 20248-K EDGAR
  17. Jun 7, 20248-K EDGAR
  18. May 30, 20248-K EDGAR
  19. May 16, 202410-Q EDGAR
  20. May 15, 20244 EDGAR

The 364 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

287 open-market trades by officers, directors and large owners since October 2021: 7 buys and 280 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 25, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.58$11.6KForm 4
Mar 22, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.58$11.6KForm 4
Mar 21, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.59$11.8KForm 4
Mar 20, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.58$11.6KForm 4
Mar 19, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.59$11.8KForm 4
Mar 18, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.62$12.4KForm 4
Mar 15, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.59$11.8KForm 4
Mar 14, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.61$12.2KForm 4
Mar 5, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale21,700$0.61$13.2KForm 4
Mar 4, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.62$12.4KForm 4
Mar 1, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.62$12.4KForm 4
Feb 29, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.60$12.0KForm 4
Feb 28, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.60$12.0KForm 4
Feb 27, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.60$12.0KForm 4
Feb 26, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.61$12.2KForm 4
Feb 23, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.61$12.2KForm 4
Feb 22, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.66$13.2KForm 4
Feb 21, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.69$13.8KForm 4
Feb 16, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.75$15.0KForm 4
Feb 15, 2024JOHN ROSATTI REVOCABLE TRUST10% ownerSale20,000$0.73$14.6KForm 4

All 287 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$78.4M 2020–2021
Money received by yearMoney received by year, 2020–2021: $78.4M in all. Private raises (Form D) $77.5M; PPP loans $901.4K.$0$20M$40M$60M$80M2020 · PPP loans: $901.4K20202021 · Private raises (Form D): $77.5M2021
Figures by year
YearPrivate raises (Form D)PPP loansTotal
2021$77.5M–$77.5M
2020–$901.4K$901.4K

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Nov 3, 2021Raised $77.5 million in a private offering of equity49 Form D: 1 investor so far Form D

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA78. Matched to this company by name and state.

  1. Apr 27, 2020$901.4K PPP loan (first draw) from Pilot Bank78To BURGERFI INTERNATIONAL, LLC, North Palm Beach FL; $910.9K forgiven May 21, 2021

SEC filer profile

How BurgerFi International, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBurgerFi International, Inc.1
  • CIK0001723580
  • Employer ID (EIN)82-24188151
  • Filer statusNon-accelerated filer<br>smaller reporting company1
  • Incorporated inDelaware1
  • Fiscal year endsDecember 301
  • Industry code (SIC)5812 Retail-Eating Places1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business address200 West Cypress Creek Road, Suite 220, Fort Lauderdale, FL 333091
  • Phone(954) 618-20001
  • Shares outstanding27,403,547 as of May 10, 202411
  • Public float$29.5M as of Jul 3, 20232
  • On EDGAR sinceNov 22, 20171
  • Filings601 in all: 4 (207), 8-K (126), 3 (45), 144 (20), 10-Q (19), DEFA14A (17), SC 13D/A (14), CORRESP (12)1
    All 43 form types

    DEF 14A (12), 4/A (11), SC 13G (11), SC 13G/A (11), UPLOAD (11), 3/A (7), PRE 14A (7), 10-K (6), EFFECT (6), NT 10-Q (6), S-8 (6), POS AM (5), 8-K/A (4), NT 10-K (4), 424B3 (3), PRER14A (3), S-1/A (3), 25-NSE (2), 424B5 (2), ARS (2), S-1 (2), S-3 (2), S-3/A (2), SC 13D (2), 10-K/A (1), 424B7 (1), 8-A12B (1), CERT (1), D (1), DEFM14A (1), DRS (1), DRS/A (1), DRSLTR (1), PREM14A (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Apr 10, 2024
    Quarterly report (10-Q) May 16, 2024
    Proxy statement (DEF 14A) Apr 25, 2024
    Latest 8-K (8-K) Mar 18, 2025

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