Jersey Mike's Subs Inc. filed its quarterly report on Form 10-Q with the SEC on October 28, 2026, covering the fiscal quarter ended September 27, 2026, its first such filing as a public company following its initial public offering in July 2026.

Key Highlights

  • Share count: As of October 23, 2026, there were 233,405,414 shares of Class A common stock and 84,233,486 shares of Class B common stock outstanding, according to the filing.
  • Total assets: The company reported total assets of $8,471 million as of September 27, 2026, up from $8,181 million as of December 28, 2025.
  • Cash and cash equivalents: Cash and cash equivalents were $295 million as of September 27, 2026, compared with $215 million as of December 28, 2025.
  • Long-term debt: Long-term debt, net of current portion, stood at $1,798 million as of September 27, 2026, down from $2,062 million as of December 28, 2025.
  • Trade name intangible: The company carried a trade name asset of $5,710 million on its balance sheet at both period-end dates.
  • TRA liability: A Tax Receivable Agreement liability of $1,369 million appeared on the balance sheet as of September 27, 2026, with no corresponding balance as of December 28, 2025.
  • Total equity: Total equity was $4,870 million as of September 27, 2026, compared with $5,903 million (reported entirely as members' equity pre-Reorganization) as of December 28, 2025.

Jersey Mike's Subs Balance Sheet Reflects Post-IPO Capital Structure Changes

Jersey Mike's Subs Inc. (NYSE:JMKE) filed its first quarterly report as a public company, covering the thirteen and thirty-nine weeks ended September 27, 2026. The filing reflects the company's reorganization and IPO completed in 2026, as the balance sheet as of December 28, 2025 showed no Class A or Class B common stock outstanding, with equity recorded entirely as members' equity of $5,903 million. By September 27, 2026, the capital structure had shifted, with additional paid-in capital of $3,309 million, a noncontrolling interest of $1,572 million, and a retained deficit of $11 million, according to the filing.

The company reported total liabilities of $3,601 million as of September 27, 2026, a notable increase from $2,278 million as of December 28, 2025. The filing attributes a significant portion of the increase to the TRA liability of $1,369 million and an increase in other non-current liabilities to $300 million from $65 million, neither of which had a balance in the prior period-end. Deferred tax assets of $278 million were also newly recorded as of September 27, 2026, with no corresponding balance as of December 28, 2025.

The company disclosed that its IPO Prospectus was filed with the SEC on July 31, 2026, pursuant to Rule 424(b)(4) under the Securities Act. The filing noted that forward-looking statements contained in the report "are based on management's current expectations and are subject to uncertainty and changes in circumstances," and cautioned that actual results may differ materially. Jersey Mike's Subs is incorporated in Delaware, is classified as a non-accelerated filer, and is headquartered at 1 Commvault Way, S300, Tinton Falls, NJ 07724.

What Was Disclosed

Jersey Mike's Subs Inc. filed a Form 10-Q for the quarter ended September 27, 2026, presenting condensed consolidated balance sheet data that reflects a reorganized capital structure following its July 2026 IPO, including new equity classes, a TRA liability, and changes in debt and cash positions.