Income Statement

v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Owned restaurant net revenue $ 16,529 $ 20,943 $ 55,086 $ 41,036
Management, license and incentive fee revenue 135 2,656 2,297 5,339
Total revenues 16,664 23,599 57,383 46,375
Owned operating expenses:        
Owned restaurant cost of sales 4,174 5,519 14,287 10,545
Owned restaurant operating expenses 12,038 13,630 38,537 26,347
Total owned operating expenses 16,212 19,149 52,824 36,892
General and administrative (including stock-based compensation of $482, $456, $820, and $637 for the three and six months ended June 30, 2020 and 2019 respectively) 2,438 2,704 5,835 5,354
Depreciation and amortization 2,510 1,004 4,950 1,946
Transaction and integration costs 14 152 1,109 152
COVID-19 related expenses 695   2,043  
Lease termination expenses 89 141 268 141
Pre-opening expenses   63   545
Other income, net (11) (91) (12) (266)
Total costs and expenses 21,947 23,122 67,017 44,764
Operating (loss) income (5,283) 477 (9,634) 1,611
Other expenses, net:        
Interest expense, net of interest income 1,195 218 2,370 487
Loss on early debt extinguishment   437   437
Total other expenses, net 1,195 655 2,370 924
(Loss) income before (benefit) provision for income taxes (6,478) (178) (12,004) 687
(Benefit) provision for income taxes (3,228) (15) (3,881) 81
Net (loss) income (3,250) (163) (8,123) 606
Less: net (loss) income attributable to noncontrolling interest (378) 159 (652) 74
Net (loss) income attributable to The ONE Group Hospitality, Inc. (2,872) (322) (7,471) 532
Currency translation gain (loss) 2 (120) (42) (280)
Comprehensive (loss) income attributable to The ONE Group Hospitality, Inc. $ (2,870) $ (442) $ (7,513) $ 252
Net (loss) income attributable to The ONE Group Hospitality, Inc. per share:        
Basic net (loss) earnings per share $ (0.10) $ (0.01) $ (0.26) $ 0.02
Diluted net (loss) earnings per share $ (0.10) $ (0.01) $ (0.26) $ 0.02
Shares used in computing basic (loss) earnings per share 28,907,568 28,432,510 28,778,544 28,373,974
Shares used in computing diluted (loss) earnings per share 28,907,568 28,432,510 28,778,544 29,456,764

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