Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 28, 2025
Dec. 31, 2024
Revenues:    
Owned restaurant net revenue $ 791,762 $ 658,915
Management, license, franchise and incentive fee revenue 13,960 14,429
Total revenues 805,722 673,344
Owned operating expenses:    
Owned restaurant cost of sales 163,579 138,794
Owned restaurant operating expenses 503,070 413,587
Total owned operating expenses 666,649 552,381
General and administrative (including stock-based compensation of $5,440 and $6,017 for the years ended December 28, 2025 and December 31, 2024, respectively) 52,540 44,234
Depreciation and amortization 43,192 34,096
Transition and integration expenses 11,202 13,681
Loss on impairment of non-current assets 10,610 0
Lease termination and exit expenses 7,949 1,567
Pre-opening expenses 5,741 9,509
Transaction and exit costs 256 8,855
Other (income) expenses (418) 124
Total costs and expenses 797,721 664,447
Operating income 8,001 8,897
Other expenses, net:    
Interest expense, net of interest income 40,902 31,109
Loss on early debt extinguishment   4,149
Total other expenses, net: 40,902 35,258
Loss before provision (benefit) for income taxes (32,901) (26,361)
Provision (benefit) for income taxes 60,684 (8,434)
Net loss (93,585) (17,927)
Less: net loss attributable to noncontrolling interest (1,344) (829)
Net loss attributable to The ONE Group Hospitality, Inc. (92,241) (17,098)
Series A Preferred Stock paid-in-kind dividend and accretion (33,218) (19,142)
Net loss attributable to common stockholders $ (125,459) $ (36,240)
Net loss attributable to The ONE Group Hospitality, Inc. per share:    
Basic loss per share (in dollars per share) $ (4.05) $ (1.16)
Diluted loss per share (in dollars per share) $ (4.05) $ (1.16)
Shares used in computing basic loss per share (in shares) 31,015,129 31,154,765
Shares used in computing diluted loss per share (in shares) 31,015,129 31,154,765