Income Statement

v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Owned restaurant net revenue $ 69,538 $ 67,966 $ 216,984 $ 184,982
Management, license and incentive fee revenue 3,482 3,903 11,342 8,129
Total revenues 73,020 71,869 228,326 193,111
Owned operating expenses:        
Owned restaurant cost of sales 17,281 17,733 55,231 46,925
Owned restaurant operating expenses 43,136 38,640 126,818 101,882
Total owned operating expenses 60,417 56,373 182,049 148,807
General and administrative (including stock-based compensation of $1,001, $653, $2,791 and $2,812 for the three and nine months ended September 30, 2022 and 2021, respectively) 6,447 5,959 20,587 17,272
Depreciation and amortization 2,930 2,572 8,571 7,766
COVID-19 related expenses 0 1,131 2,534 3,776
Agreement restructuring expenses       494
Pre-opening expenses 2,684 587 3,833 842
Lease termination expenses   58 255 352
Transaction costs 51 131 51 131
Total costs and expenses 72,529 66,811 217,880 179,440
Operating income 491 5,058 10,446 13,671
Other expenses (income), net:        
Interest expense, net 435 781 1,387 3,262
Loss on early debt extinguishment   600   600
Gain on CARES Act Loan Forgiveness   (9,968)   (18,529)
Total other expenses (income), net 435 (8,587) 1,387 (14,667)
Income before provision for income taxes 56 13,645 9,059 28,338
(Benefit) provision for income taxes (321) 1,544 721 2,188
Net income 377 12,101 8,338 26,150
Less: net (loss) income attributable to noncontrolling interest (105) 430 (117) 573
Net income attributable to The One Group Hospitality, Inc. 482 11,671 8,455 25,577
Currency translation loss (87) (34) (348) (44)
Comprehensive income attributable to The ONE Group Hospitality, Inc. $ 395 $ 11,637 $ 8,107 $ 25,533
Net income attributable to The ONE Group Hospitality, Inc. per share:        
Basic net income per share $ 0.01 $ 0.36 $ 0.26 $ 0.83
Diluted net income per share $ 0.01 $ 0.34 $ 0.25 $ 0.75
Shares used in computing basic income per share 32,663,549 31,993,557 32,496,780 30,830,521
Shares used in computing diluted income per share 33,921,498 34,380,573 34,062,661 34,223,857

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