Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

v3.22.4
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Revenues:    
Owned restaurant net revenue $ 300,859 $ 264,404
Management, license and incentive fee revenue 15,779 12,774
Total revenues 316,638 277,178
Owned operating expenses:    
Owned restaurant cost of sales 75,365 67,468
Owned restaurant operating expenses 174,689 144,529
Total owned operating expenses 250,054 211,997
General and administrative (including stock-based compensation of $3,985 and $3,618 for the years ended December 31, 2022 and 2021, respectively) 29,081 25,573
Depreciation and amortization 12,134 10,790
COVID-19 related expenses 2,534 5,821
Transaction costs 123 160
Lease termination expenses 257 1,912
Agreement restructuring expenses   503
Pre-opening expenses 5,519 1,037
Write-off of trademark costs and other 630  
Total costs and expenses 300,332 257,793
Operating income 16,306 19,385
Other expenses (income), net:    
Interest expense, net of interest income 2,113 3,780
Loss on early debt extinguishment   600
Gain on CARES Act Loan Forgiveness   (18,529)
Total other expenses (income), net 2,113 (14,149)
Income before provision for income taxes 14,193 33,534
Provision for income taxes 874 1,586
Net income 13,319 31,948
Less: net (loss) income attributable to noncontrolling interest (215) 600
Net income attributable to The ONE Group Hospitality, Inc. 13,534 31,348
Currency translation (loss) gain (224) 1
Comprehensive income attributable to The One Group Hospitality, Inc. $ 13,310 $ 31,349
Net income attributable to The ONE Group Hospitality, Inc. per share:    
Basic net income per share $ 0.42 $ 1.01
Diluted net income per share $ 0.40 $ 0.93
Shares used in computing basic income per share 32,400,515 31,155,224
Shares used in computing diluted income per share 33,871,797 33,794,344