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DRVN Stock Price Correlated With Driven Brands Holdings Financials

DRVN Stock Price vs. Quarterly
Income Statement
Cash Flow
Balance Sheet

DRVN Income Statement

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Revenue, Net:
Revenue Per Share:
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Total Operating Expenses:
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Net Income:
Earnings Per Share, Diluted:
Earnings Per Share, Basic:
Shares Outstanding, Basic Avg:
Shares Outstanding, Diluted Avg:
Common Stock Shares Outstanding:

DRVN Cash Flow

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Operating Activities Net Income:
Depreciation, Depletion & Amortization:
Change in Accounts Receiveable:
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Repurchases/Buybacks Common Stock:
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Property, Plant & Equipment Purchases:
Purchases of Businesses, Net of Cash:
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DRVN Balance Sheet

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Cash and Cash Equivalents:
Short-Term Investments:
Accounts Receivable, Net:
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Property, Plant & Equipment, Net:
Total Assets:
Accounts Payable:
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Major Holders (from 13F filings)

Investment Type
Value (x$1000)
increase or decrease
Neuberger Berman Group
5,632,744 sh
1,041,746 sh
5,610,472 sh
-58,610 sh
Vanguard Group
5,290,011 sh
-348 sh
JPMorgan Chase
4,559,473 sh
192,840 sh
Millennium Management
2,830,196 sh
180,501 sh
Bamco /Ny/
2,500,000 sh
225,000 sh
2,343,234 sh
76,742 sh
Janus Henderson Group Plc
2,243,977 sh
114,948 sh
2,221,954 sh
-241,243 sh
American Century Companies
2,124,023 sh
270,957 sh
Timessquare Capital Management
1,779,533 sh
-65,410 sh
Loomis Sayles L P
1,732,015 sh
-29,403 sh
Capital World Investors
1,501,000 sh
-982,000 sh
Thrivent Financial For Lutherans
1,318,031 sh
263,917 sh
Cowbird Capital Lp
1,090,498 sh
293,630 sh
Citadel Advisors
1,028,137 sh
1,026,637 sh
Manufacturers Life Insurancempany, The
976,031 sh
-934,075 sh
Geode Capital Management
948,272 sh
18,147 sh
State Street
922,545 sh
39,984 sh
Summit Creek Advisors
900,529 sh
796 sh
Description of Business Description of Business

Driven Brands Holdings Inc., together with its subsidiaries (collectively, the “Company”), is a Delaware corporation and is the parent holding company of Driven Brands, Inc. and Shine Holdco (UK) Limited (collectively, “Driven Brands”). Driven Brands is the largest automotive services company in North America with a growing and highly-franchised base of more than 4,500 franchised, independently-operated, and company-operated locations across 49 U.S. states and 14 other countries. The Company has a portfolio of highly recognized brands, including Take 5 Oil Change®, Meineke Car Care Centers®, MAACO®, CARSTAR®, and 1-800-Radiator & A/C® that compete in the automotive services industry. Approximately 78% of the Company’s locations are franchised or independently-operated.

Initial Public Offering and Secondary Offering in 2021

On January 14, 2021, the Company completed an initial public offering (the “IPO”) of approximately 32 million shares of common stock at $22 per share. On February 10, 2021, the Company’s underwriters exercised their over-allotment option to purchase approximately 5 million additional shares of common stock. The Company received total proceeds of $761 million from these transactions, net of the underwriting discounts and commissions.

The Company used the proceeds from the IPO, along with cash on hand, to fully repay the term loans and revolving credit facility assumed as part of the acquisition of International Car Wash Group (“ICWG”) in 2020 (collectively, the “Car Wash Senior Credit Facilities”), which totaled $725 million with interest and fees. The Company recognized a $45 million loss on debt extinguishment for three months ended March 27, 2021 related to this settlement, primarily related to the write-off of the unamortized discount. The Company cancelled the interest rate and cross currency swaps associated with these debt agreements as part of the settlement. The Company also used $43 million in proceeds to purchase approximately 2 million shares of common stock from certain of our existing shareholders.

On August 2, 2021, the Company filed a Registration Statement on Form S-1 for a secondary offering of approximately 12 million shares of common stock at $29.50 per share by certain of the Company’s stockholders, Driven Equity LLC and RC IV Cayman ICW Holdings LLC, each of which is a related party of Roark Capital Management, LLC. The Company did not sell any common stock in the offering and did not receive any proceeds from the offering. On September 8, 2021, the underwriters for the secondary offering exercised a portion of their over-allotment option and purchased 881,393 additional shares of common stock. The Company did not receive any proceeds from the exercise of the over-allotment option.

Income Tax Receivable Agreement

The Company expects to be able to utilize certain tax benefits which are related to periods prior to the effective date of the Company’s IPO and are attributed to current and former shareholders. The Company previously entered into an income tax receivable agreement which provides our pre-IPO shareholders with the right to receive payment of 85% of the amount of cash savings, if any, in U.S. and Canadian federal, state, local and provincial income tax that the Company will actually realize. The income tax receivable agreement is effective as of the date of the Company’s IPO. The Company has recorded a total liability of $156 million as of March 26, 2022 and December 25, 2021, of which $24 million and $132 million are recorded under current and non-current liabilities, respectively.

Stock Split

On January 14, 2021, the Company’s shareholders approved an amendment to the Company’s certificate of incorporation (the "Amendment") to effect an implied 88,990-for-one stock split of shares of the Company’s outstanding

common stock. In addition, the Amendment increased the number of authorized shares of the Company's stock from

Free historical financial statements for Driven Brands Holdings Inc.. See how revenue, income, cash flow, and balance sheet financials have changed over 10 quarters since 2021. Compare with DRVN stock chart to see long term trends.

Data imported from Driven Brands Holdings Inc. SEC filings. Check original filings before making any investment decision.