Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 29, 2025
Jun. 30, 2024
Jun. 29, 2025
Jun. 30, 2024
Revenues:        
Owned restaurant net revenue $ 203,907 $ 169,021 $ 411,305 $ 250,529
Management, license, franchise and incentive fee revenue 3,472 3,473 7,203 6,960
Total revenues 207,379 172,494 418,508 257,489
Owned operating expenses:        
Owned restaurant cost of sales 43,190 35,877 86,310 54,591
Owned restaurant operating expenses 129,493 103,772 258,268 153,410
Total owned operating expenses 172,683 139,649 344,578 208,001
General and administrative (including stock-based compensation of $1,470 and $3,102 for the three and six periods ended June 29, 2025, respectively, and $1,495 and $2,853 for the three and six months ended June 30, 2024, respectively) 11,662 10,634 24,753 18,168
Depreciation and amortization 10,870 8,025 20,699 13,285
Transaction and exit costs 61 6,519 130 7,878
Transition and integration expenses 3,949 3,794 7,668 3,794
Pre-opening expenses 1,579 2,516 3,260 5,430
Lease termination and exit expenses 5,635 307 5,706 471
Other expenses 278   323 32
Total costs and expenses 206,717 171,444 407,117 257,059
Operating income 662 1,050 11,391 430
Other expenses, net:        
Interest expense, net of interest income 10,295 7,865 20,117 9,943
Loss on early debt extinguishment   4,149   4,149
Total other expenses, net 10,295 12,014 20,117 14,092
Loss before provision (benefit) for income taxes (9,633) (10,964) (8,726) (13,662)
Provision (benefit) for income taxes 699 (3,459) 984 (3,727)
Net loss (10,332) (7,505) (9,710) (9,935)
Less: net loss attributable to noncontrolling interest (228) (163) (581) (524)
Net loss attributable to The ONE Group Hospitality, Inc. (10,104) (7,342) (9,129) (9,411)
Series A Preferred Stock paid-in-kind dividend and accretion (8,137) (4,538) (15,728) (4,538)
Net loss available to common stockholders $ (18,241) $ (11,880) $ (24,857) $ (13,949)
Net loss per common share:        
Net loss per common share Basic (in dollars per share) $ (0.59) $ (0.38) $ (0.8) $ (0.44)
Net loss per common share Diluted (in dollars per share) $ (0.59) $ (0.38) $ (0.8) $ (0.44)
Weighted average common shares outstanding: Basic (in shares) 30,935,737 31,424,938 30,989,839 31,376,951
Weighted average common shares outstanding: Diluted (in shares) 30,935,737 31,424,938 30,989,839 31,376,951