Company: UTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001739566-25-000153
Chunk: 38

Company: Utz Brands, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 and a corresponding increase in discounts paid to IOs to cover their costs to distribute our product. The net impact is a reduction in selling expenses and a decrease in net sales and gross profit. Conversions also impact our Consolidated Balance Sheets, resulting in cash proceeds to us as a result of selling the route to an IO, or by creating notes receivable related to the sale of the routes. While we expect to have a some routes under the ownership of the Company as we acquire and re-sell routes as part of our normal operations, as of June 29, 2025, substantially all of our DSD routes are managed by IOs.

20

Results of Operations

Overview

The following tables present selected unaudited financial data for the thirteen weeks ended and twenty-six weeks ended June 29, 2025 and June 30, 2024.

(in millions)Thirteen weeks ended June 29, 2025Thirteen weeks ended June 30, 2024Twenty-six weeks ended June 29, 2025Twenty-six weeks ended June 30, 2024Net sales$366.7 $356.2 $718.8 $702.7 Cost of goods sold239.9 231.5 473.8 458.4 Gross profit126.8 124.7 245.0 244.3 Selling, distribution, and administrative expensesSelling and distribution85.8 73.8 163.1 147.4 Administrative33.7 30.8 69.6 66.6 Total selling, distribution, and administrative expenses119.5 104.6 232.7 214.0 (Loss) gain on sale of assets, net(0.9)2.4 (0.2)1.9 Income from operations6.4 22.5 12.1 32.2 Other incomeGain on sale of business— — — 44.0 Interest expense(11.4)(10.2)(22.9)(24.0)Loss on debt extinguishment— (1.3)(0.5)(1.3)Other (loss) income(0.6)0.2 (0.2)1.0 Gain on remeasurement of warrant liability 12.5 12.9 23.5 1.1 Other income (loss), net0.