Driven Brands says ‘needs additional time’ to prepare Form 10-Q

In a regulatory filing, the company stated, “Driven Brands (DRVN) Holdings needs additional time to prepare its Form 10-Q for the quarter ended March 28, 2026 as a result of the restatement of previously issued financial statements and the related delay in filing its Form 10-K for the year ended December 27, 2025, which has not been completed as of the date of this notification. Management expects to report that it did not maintain effective internal control over financial reporting or disclosure controls and procedures because of material weaknesses in our control environment and this contributed to additional material weaknesses related to (i) controls related to account reconciliations, (ii) controls over leases, (iii) controls related to intercompany and consolidation transactions, and (iv) controls over manual journal entries. The company continues to dedicate significant resources to the 2025 Form 10-K and the 2026Q1 Form 10-Q and is working diligently to file each as soon as practicable.”