Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Revenues:    
Owned restaurant net revenue $ 317,366 $ 300,859
Management, license and incentive fee revenue 15,403 15,779
Total revenues 332,769 316,638
Owned operating expenses:    
Owned restaurant cost of sales 75,727 75,365
Owned restaurant operating expenses 191,250 174,689
Total owned operating expenses 266,977 250,054
General and administrative (including stock-based compensation of $5,032 and $3,985 for the years ended December 31, 2023 and 2022, respectively) 30,751 29,081
Depreciation and amortization 15,664 12,134
Pre-opening expenses 8,855 5,519
Transaction costs 207 123
Lease termination expenses   257
COVID-19 related expenses   2,534
Other expenses 1,021 630
Total costs and expenses 323,475 300,332
Operating income 9,294 16,306
Other expenses, net:    
Interest expense, net of interest income 7,028 2,113
Total other expenses, net 7,028 2,113
Income before provision for income taxes 2,266 14,193
(Benefit) provision for income taxes (1,760) 874
Net income 4,026 13,319
Less: net loss attributable to noncontrolling interest (692) (215)
Net income attributable to The ONE Group Hospitality, Inc. 4,718 13,534
Currency translation loss (61) (224)
Comprehensive income attributable to The One Group Hospitality, Inc. $ 4,657 $ 13,310
Net income attributable to The ONE Group Hospitality, Inc. per share:    
Basic net income per share (in dollars per share) $ 0.15 $ 0.42
Diluted net income per share (in dollars per share) $ 0.15 $ 0.40
Shares used in computing basic income per share (in shares) 31,556,437 32,400,515
Shares used in computing diluted income per share (in shares) 32,287,864 33,871,797