Shake Shack Inc.

For the period ended Apr 1, 2026. Filed May 7, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Apr 1, 2026 · Filed May 7, 2026

SHAK$75.90-1.6%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Cash Flows

(in thousands)

	Thirteen Weeks Ended
April 12026 · March 262025
OPERATING ACTIVITIES
Net income (loss) (including amounts attributable to non-controlling interests)		$(294)				$4,513
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
	Depreciation and amortization expense	29,120			26,543
	Amortization of debt issuance costs	262			262
	Amortization of cloud computing assets	512			606
	Non-cash operating lease cost	24,687			20,674
	Equity-based compensation	5,160			4,541
	Deferred income taxes	(1,590)			(644)
	Non-cash interest	26			33
	Impairments, loss on disposal of assets, and Shack closures	867			2,057
	Changes in operating assets and liabilities:
		Accounts receivable	3,857			1,403
		Inventories	572			702
		Prepaid expenses and other current assets	(13,677)			(3,786)
		Other assets	(2,128)			(2,375)
		Accounts payable	3,301			(2,225)
		Accrued expenses	(12,516)			5,566
		Accrued wages and related liabilities	(4,330)			(4,874)
		Other current liabilities	(5,332)			(409)
		Operating lease liabilities	(21,536)			(23,128)
		Other long-term liabilities	1,528			1,763
NET CASH PROVIDED BY OPERATING ACTIVITIES	8,489			31,222
INVESTING ACTIVITIES
Purchases of property and equipment	(47,192)			(29,352)
NET CASH USED IN INVESTING ACTIVITIES	(47,192)			(29,352)
FINANCING ACTIVITIES
Payments on principal of finance leases	(1,591)			(1,290)
Distributions paid to non-controlling interest holders	(12)			(21)
Payments under tax receivable agreement, including interest	(977)			(24)
Net proceeds from stock option exercises	69			123
Employee withholding taxes related to net settled equity awards	(5,254)			(8,450)
NET CASH USED IN FINANCING ACTIVITIES	(7,765)			(9,662)
Effect of exchange rate changes on cash and cash equivalents	(5)			(1)
DECREASE IN CASH AND CASH EQUIVALENTS	(46,473)			(7,793)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	360,123			320,714
CASH AND CASH EQUIVALENTS AT END OF PERIOD		$313,650				$312,921

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.