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, 2021
Dec. 31, 2020
Revenues:    
Owned restaurant net revenue $ 264,404 $ 136,618
Management, license and incentive fee revenue 12,774 5,325
Total revenues 277,178 141,943
Owned operating expenses:    
Owned restaurant cost of sales 67,468 34,024
Owned restaurant operating expenses 144,529 87,042
Total owned operating expenses 211,997 121,066
General and administrative (including stock-based compensation of $3,618 and $1,773 for the years ended December 31, 2021 and 2020, respectively) 25,573 13,922
Depreciation and amortization 10,790 10,114
COVID-19 related expenses 5,821 5,492
Transaction costs 160 1,109
Lease termination expenses 1,912 3,315
Agreement restructuring expenses 503 452
Pre-opening expenses 1,037 178
Other income, net   (11)
Total costs and expenses 257,793 155,637
Operating income (loss) 19,385 (13,694)
Other (income) expenses, net:    
Interest expense, net of interest income 3,780 5,329
Loss on early debt extinguishment 600  
Gain on CARES Act Loan Forgiveness (18,529)  
Total other (income) expenses, net (14,149) 5,329
Income (loss) before provision (benefit) for income taxes 33,534 (19,023)
Provision (benefit) for income taxes 1,586 (5,400)
Net income (loss) 31,948 (13,623)
Less: net income (loss) attributable to noncontrolling interest 600 (798)
Net income (loss) attributable to The ONE Group Hospitality, Inc. 31,348 (12,825)
Currency translation (loss) gain 1 5
Comprehensive income (loss) attributable to The One Group Hospitality, Inc. $ 31,349 $ (12,820)
Net income (loss) attributable to The ONE Group Hospitality, Inc. per share:    
Basic net income (loss) per share $ 1.01 $ (0.44)
Diluted net income (loss) per share $ 0.93 $ (0.44)
Shares used in computing basic earnings per share 31,155,224 28,909,963
Shares used in computing diluted earnings per share 33,794,344 28,909,963