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DRVN Driven Brands

Driven Brands™, headquartered in Charlotte, NC, is the largest automotive services company in North America, providing a range of consumer and commercial automotive needs, including paint, collision, glass, vehicle repair, oil change, maintenance and car wash. Driven Brands is the parent company of some of North America’s leading automotive service businesses including Take 5 Oil Change®, Meineke Car Care Centers®, Maaco®, 1-800-Radiator & A/C®, and CARSTAR®. Driven Brands has more than 4,100 centers across 15 countries, and services over 50 million vehicles annually. Driven Brands’ network generates approximately $900 million in revenue from more than $3 billion in system-wide sales.

DRVN stock data

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Calendar

9 Nov 21
24 Jan 22
25 Dec 22
Quarter (USD)
Sep 21 Jun 21 Mar 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 145.84M 145.84M 145.84M 145.84M 145.84M
Cash burn (monthly) 10.82M 5.07M (positive/no burn) (positive/no burn) 992.58K
Cash used (since last report) 43.08M 20.18M n/a n/a 3.95M
Cash remaining 102.76M 125.66M n/a n/a 141.89M
Runway (months of cash) 9.5 24.8 n/a n/a 142.9

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
20 Dec 21 Scott L. O'Melia Stock Option Common Stock Grant Acquire A No No 30.63 200,000 6.13M 200,000

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

29.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 124 100 +24.0%
Opened positions 37 30 +23.3%
Closed positions 13 16 -18.8%
Increased positions 60 35 +71.4%
Reduced positions 17 27 -37.0%
13F shares
Current Prev Q Change
Total value 1.44B 1.16B +23.8%
Total shares 49.68M 37.51M +32.4%
Total puts 0 0
Total calls 117.4K 11.1K +957.7%
Total put/call ratio
Largest owners
Shares Value Change
Vanguard 4.37M $126.11M +51.1%
Alliancebernstein 4.04M $116.85M +10.6%
Bain Capital Public Equity Management II 3.75M $108.2M +63.2%
JPM JPMorgan Chase & Co. 3.7M $106.76M -0.7%
ATAC Neuberger Berman 3.21M $92.63M +15.1%
JHG Janus Henderson 2.14M $61.7M +2.4%
BLK Blackrock 1.99M $57.46M +43.1%
Millennium Management 1.9M $54.99M +5815.6%
Bamco 1.89M $54.48M +1.9%
TimesSquare Capital Management 1.85M $53.37M +38.2%
Largest transactions
Shares Bought/sold Change
Millennium Management 1.9M +1.87M +5815.6%
FMR 1.6M +1.6M +53480366.7%
Vanguard 4.37M +1.48M +51.1%
Bain Capital Public Equity Management II 3.75M +1.45M +63.2%
FIL 170.33K -1.28M -88.3%
DB Deutsche Bank AG - Registered Shares 173.82K -681.2K -79.7%
Highside Global Management 665.92K +665.92K NEW
Victory Capital Management 1.17M +663.01K +131.5%
BLK Blackrock 1.99M +599.22K +43.1%
Thrivent Financial For Lutherans 516.38K +516.38K NEW

Financial report summary

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Risks
  • Risks Relating to Our Business
  • Risks Related to Intellectual Property
  • Risks Related to the Securitized Debt Facility
  • Risks Related to Ownership of Our Common Stock
  • Risks Relating to Our Business
  • Competition is intense and may harm our business and results of operations.
  • Changes in consumer preferences and perceptions, and in economic, market and other conditions could adversely affect our business and results of operations.
  • Our business is affected by the financial results of our franchisees.
  • Our business is affected by advances in automotive technology.
  • Certain restrictions may prevent us from providing our services and products to customers.
  • Changes in labor costs, other operating costs, such as commodity costs, interest rates, foreign exchange rates and inflation could adversely affect our results of operations.
  • Our locations may experience difficulty hiring and retaining qualified personnel, resulting in higher labor costs.
  • Insurance coverage may not be adequate, and increased self-insurance and other insurance costs could adversely affect our results of operations.
  • Higher health care costs could adversely affect our results of operations.
  • Changes in supply costs could adversely affect our results of operations.
  • Recent and potential additional tariffs imposed by the United States government or a global trade war could increase our supply costs, which could materially and adversely affect our business and results of operations.
  • Decreases in our product sourcing revenue could adversely affect our results of operations.
  • We depend on key suppliers, including international suppliers, to deliver high-quality products at prices similar to historical levels.
  • Supply chain shortages and interruptions could adversely affect our business.
  • Our business depends on the willingness of suppliers, distributors and service providers to supply our locations with goods and services pursuant to customary credit arrangements which may be available in the future on less favorable terms or not at all.
  • Our operations and financial performance has been affected by, and is expected to continue to be affected by, the coronavirus outbreak.
  • Our failure to build and maintain relationships with insurance partners could adversely affect our business.
  • A significant portion of our revenue-generating assets are pledged as security under the terms of our securitized financing facility.
  • Certain acquisitions could adversely affect our financial results.
  • Our business may be adversely impacted by additional leverage in connection with acquisitions.
  • We may not be able to achieve management’s estimate of the Acquisition Adjusted EBITDA of acquired businesses, and our Acquisition Adjusted EBITDA is based on certain estimates and assumptions and should not be regarded as a representation by us or any other person that we will achieve such operating results.
  • Our business is subject to a certain level of seasonality and may be impacted by the weather.
  • Our business may be adversely impacted by the geographic concentration of our locations.
  • The number of our brands exposes us to a greater variety of risks.
  • Our international operations are subject to various risks and uncertainties, and there is no assurance that they will be successful.
  • Adverse economic conditions or a global debt crisis could adversely affect our business.
  • Our success depends on the effectiveness of our marketing and advertising programs.
  • Our failure or our franchisees’ and independent operators’ failure to comply with health, employment and other federal, state, local and provincial laws, rules and regulations may lead to losses and harm our brands.
  • Our locations are subject to certain environmental laws and regulations.
  • Complaints or litigation may adversely affect our business and reputation.
  • We may have product liability exposure that adversely affects our results of operations.
  • We are subject to payment-related risks.
  • Catastrophic events may disrupt our business in a manner that adversely affects our business.
  • Instability, disruption or destruction caused by civil insurrection or social unrest may affect the markets in which we operate, our suppliers, customers, sales of products and customer service.
  • We and our franchisees lease or sublease the land and buildings where a number of our locations are situated, which could expose us to possible liabilities and losses.
  • Our current locations may become unattractive, and attractive new locations may not be available for a reasonable price, if at all, which could adversely affect our business.
  • Our financial performance could be materially adversely affected if we fail to retain, or effectively respond to a loss of, key executives.
  • We might be adversely impacted by the Brexit withdrawal of the United Kingdom from the European Union.
  • Risks Related to Intellectual Property
  • We depend on our intellectual property to protect our brands; Litigation to enforce or defend our intellectual property rights may be costly.
  • We may fail to establish trademark rights in the countries in which we operate.
  • If franchisees and other licensees do not observe the required quality and trademark usage standards, our brands may suffer reputational damage, which could in turn adversely affect our business.
  • We may become subject to third-party infringement claims or challenges to IP validity.
  • We do not own certain software that is used in operating our business, and our proprietary platforms and tools incorporate open source software.
  • We are heavily dependent on computer systems and information technology and any material failure, interruption or security breach of our computer systems or technology could impair our ability to efficiently operate our business.
  • The occurrence of cyber incidents, or a deficiency in cybersecurity, could negatively impact our business by causing a disruption to our operations, a compromise or corruption of confidential information, and/or damage to our employee and business relationships, all of which could lead to loss and harm our business.
  • Risks Relating to the Franchisees
  • A majority of our locations are owned and operated by franchisees and, as a result, we are highly dependent upon our franchisees.
  • Franchisees are operating entities exposed to risk.
  • Franchisee changes in control may cause complications.
  • Franchise documents are subject to termination and non-renewal.
  • We may not be able to retain franchisees or maintain the quality of existing franchisees.
  • Our location development plans under development agreements may not be implemented effectively by franchisees.
  • There is no assurance that franchisees’ development and construction of locations will be completed, or that any such development will be completed in a timely manner. There is no assurance that present or future development plans will perform in accordance with expectations.
  • If our franchisees do not comply with their franchise agreements and policies or participate in the implementation of our business model, our business could be harmed.
  • Franchisees could take actions that could harm our brands and adversely affect our business.
  • Risks Related to the Securitized Debt Facility
  • Our substantial indebtedness could adversely affect our financial condition.
  • We may be unable to generate sufficient cash flow to satisfy our significant debt service obligations, which would adversely affect our financial condition and results of operations.
  • Our securitized debt facility has restrictive terms and our failure to comply with any of these terms could put us in default, which would have an adverse effect on our business and prospects.
  • The Securitization Senior Notes Indenture governing the securitized debt facility may restrict the cash flow from the entities subject to the securitization to us and our subsidiaries and, upon the occurrence of certain events, cash flow would be further restricted.
  • Developments with respect to the London Interbank Offered Rate (“LIBOR”) may affect our borrowings under our debt facilities.
  • Risks Related to Ownership of Our Common Stock
  • Our stock price may fluctuate significantly.
  • Our ability to raise capital in the future may be limited.
  • We are a holding company and rely on dividends, distributions, and other payments, advances, and transfers of funds from our subsidiaries to meet our obligations.
  • We incur significant costs and devote substantial management time as a result of operating as a public company.
  • We are required to make payments under an Income Tax Receivable Agreement for certain tax benefits, which amounts are expected to be material.
  • We may be subject to securities litigation, which is expensive and could divert management attention.
  • If we fail to maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results or prevent fraud. As a result, stockholders could lose confidence in our financial and other public reporting, and we could be subject to potential delisting, regulatory investigations, civil or criminal sanctions and litigation.
  • Our Principal Stockholders collectively have significant influence over decisions that require the approval of stockholders.
  • We are a “controlled company” within the meaning of NASDAQ rules and, as a result, qualify for and intend to rely on exemptions from certain corporate governance requirements.
  • Our organizational documents and Delaware law may impede or discourage a takeover, which could deprive our investors of the opportunity to receive a premium on their shares.
  • Our certificate of incorporation provides that certain courts in the State of Delaware or the federal district courts of the United States for certain types of lawsuits is the sole and exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
  • Our certificate of incorporation contains a provision renouncing our interest and expectancy in certain corporate opportunities.
  • You may be diluted by the future issuance of additional common stock or convertible securities in connection with our incentive plans, acquisitions or otherwise, which could adversely affect our stock price.
  • Future sales of our common stock in the public market, or the perception in the public market that such sales may occur, could reduce our stock price.
  • If securities or industry analysts do not publish research or reports about our business or publish negative reports, our stock price could decline.
  • We may issue preferred securities, the terms of which could adversely affect the voting power or value of our common stock.
Content analysis
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