Bring the real question.
Go beyond what happened. Explore why it matters, what the evidence supports, and what would change your view.
Get the answers behind the price action. Basis connects earnings calls, filings, and your research to analyse your thesis and show what could change it.
Go beyond what happened. Explore why it matters, what the evidence supports, and what would change your view.
Follow citations back to source material. Read the context and pressure-test the conclusion for yourself.
Move from the conversation to an investment memo and financial model, with assumptions you can revisit.
Leverage Deep Research to build one-click investment memos and financial models structured how a real investment analyst would want it. Come up to speed fast on the investment case and financial return drivers.
Explore intelligenceThe memo and model are ready. The expanded memo covers the thesis and key risks. The model connects revenue components, unit economics, and financial statements.
Start with the thesis. Follow the assumptions through to the numbers.
WING v7 · September 3, 2026 · USD in millions
| THREE MONTHS ENDING | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|
| 22 | REVENUE $ MIX | ||||||
| 23 | Royalty revenue, franchise fees and other | 78.775 | 79.889 | 81.187 | 81.931 | 87.470 | 86.844 |
| 24 | Advertising fees | 62.272 | 61.962 | 62.018 | 61.367 | 63.269 | 64.536 |
| 25 | Company-owned restaurant sales | 30.047 | 32.478 | 32.531 | 32.396 | 32.986 | 34.184 |
| 26 | Total Revenue | 171.094 | 174.329 | 175.736 | 175.694 | 183.725 | 185.564 |
| 28 | REVENUE % MIX | ||||||
| 29 | Royalty revenue, franchise fees and other | 46.0% | 45.8% | 46.2% | 46.6% | 47.6% | 46.8% |
| 30 | Advertising fees | 36.4% | 35.5% | 35.3% | 34.9% | 34.4% | 34.8% |
| 31 | Company-owned restaurant sales | 17.6% | 18.6% | 18.5% | 18.4% | 18.0% | 18.4% |
| 34 | GROWTH %, Y/Y | ||||||
| 35 | Royalty revenue, franchise fees and other | 17.4% | 12.3% | 9.1% | 8.2% | 11.0% | 8.7% |
| 36 | Advertising fees | 24.2% | 13.4% | 9.3% | 9.5% | 1.6% | 4.2% |
| 37 | Company-owned restaurant sales | 5.3% | 8.7% | 3.8% | 7.8% | 9.8% | 5.3% |
| 38 | Total Revenue | 17.4% | 12.0% | 8.1% | 8.6% | 7.4% | 6.4% |
| 40 | GROWTH $, Y/Y | ||||||
| 41 | Royalty revenue, franchise fees and other | 11.678 | 8.729 | 6.792 | 6.229 | 8.695 | 6.955 |
| 42 | Advertising fees | 12.123 | 7.308 | 5.254 | 5.304 | 0.997 | 2.574 |
| 43 | Company-owned restaurant sales | 1.504 | 2.593 | 1.192 | 2.340 | 2.939 | 1.706 |