Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 28, 2026
Jun. 29, 2025
Jun. 28, 2026
Jun. 29, 2025
Revenues:        
Owned restaurant net revenue $ 197,284 $ 203,907 $ 406,576 $ 411,305
Management, license, franchise and incentive fee revenue 3,193 3,472 6,717 7,203
Total revenues 200,477 207,379 413,293 418,508
Owned operating expenses:        
Owned restaurant cost of sales 38,544 43,190 79,078 86,310
Owned restaurant operating expenses 126,317 129,493 255,353 258,268
Total owned operating expenses 164,861 172,683 334,431 344,578
General and administrative (including stock-based compensation of $1,137 and $2,271 for the three and six periods ended June 28, 2026, respectively, and $1,470 and $3,102 for the three and six periods ended June 29, 2025, respectively) 14,008 11,662 29,030 24,753
Depreciation and amortization 11,020 10,870 21,425 20,699
Lease termination and restaurant closure expenses 919 5,635 2,884 5,706
Pre-opening expenses 2,859 1,579 4,330 3,260
Transition and integration expenses 193 3,949 659 7,668
Transaction costs 26 61 26 130
Other expenses 34 278 54 323
Total costs and expenses 193,920 206,717 392,839 407,117
Operating income 6,557 662 20,454 11,391
Other expenses, net:        
Interest expense, net of interest income 9,623 10,295 19,369 20,117
Total other expenses, net 9,623 10,295 19,369 20,117
(Loss) income before (benefit) provision for income taxes (3,066) (9,633) 1,085 (8,726)
(Benefit) provision for income taxes (716) 699 446 984
Net (loss) income (2,350) (10,332) 639 (9,710)
Less: net loss attributable to noncontrolling interest (228) (228) (441) (581)
Net (loss) income attributable to The ONE Group Hospitality, Inc. (2,122) (10,104) 1,080 (9,129)
Series A Preferred Stock paid-in-kind dividend and accretion (9,856) (8,137) (19,251) (15,728)
Net loss available to common stockholders $ (11,978) $ (18,241) $ (18,171) $ (24,857)
Net loss per common share (as restated, see Note 10):        
Net loss per common share Basic (in dollars per share) $ (0.36) $ (0.56) $ (0.55) $ (0.76)
Net loss per common share Diluted (in dollars per share) $ (0.36) $ (0.56) $ (0.55) $ (0.76)
Weighted average common shares outstanding: Basic (in shares) 33,473,486 32,841,424 33,334,228 32,895,526
Weighted average common shares outstanding: Diluted (in shares) 33,473,486 32,841,424 33,334,228 32,895,526