The ONE Group Hospitality, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Leases (Tables)

12 Months Ended

Dec. 28, 2025

The components of lease expense for the period were as follows (in thousands):


	December 28,			December 31,
	2025			2024
Lease cost
Operating lease cost	$	46,059		$	37,195
Finance lease cost
Amortization of ROU assets		211			212
Interest on lease liabilities		86			92
Total finance lease cost		297			304
Variable lease cost ⁽¹⁾		23,043			19,260
Short-term lease cost		3,380			1,609
Total lease cost	$	72,779		$	58,368

Weighted average remaining lease term
Operating leases		13 years			13 years
Finance leases		3 years			4 years
Weighted average discount rate
Operating leases		10.41	%		10.34	%
Finance leases		11.14	%		11.14	%

(1)	Variable lease cost is comprised of percentage rent and common area maintenance.

The components of finance lease assets and liabilities on the consolidated balance sheet were as follows (in thousands):


		December 28,		December 31,
		2025		2024
Finance lease right-of-use assets ⁽¹⁾		$	573	$	849
Current portion of finance lease liabilities ⁽¹⁾			191		189
Long-term portion of finance lease liabilities ⁽¹⁾			457		754

(1)	Finance lease assets and liabilities are included in other assets, other current liabilities, and other long-term liabilities on the consolidated balance sheets.

Supplemental cash flow information related to leases for the period was as follows (in thousands):


	December 28,		December 31,
	2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	38,855	$	33,440
Operating cash flows from finance leases	$	211	$	212
Financing cash flows from finance leases	$	342	$	221
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	12,682	$	4,156
Finance leases	$	—	$	64

As of December 28, 2025, maturities of the Company’s operating lease liabilities are as follows (in thousands):


2026	$	39,177
2027		44,604
2028		46,484
2029		47,212
2030		40,751
Thereafter		368,390
Total lease payments		586,618
Less: imputed interest		(278,830)
Present value of operating lease liabilities	$	307,788

As of December 28, 2025, maturities of the Company’s finance lease liabilities are as follows (in thousands):


2026	$	277
2027		251
2028		230
Total lease payments		758
Less: imputed interest		(110)
Present value of finance lease liabilities	$	648