Income Statement

v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Owned restaurant net revenue $ 76,930 $ 67,848 $ 147,446 $ 117,016
Management, license and incentive fee revenue 4,195 2,912 7,860 4,226
Total revenues 81,125 70,760 155,306 121,242
Owned operating expenses:        
Owned restaurant cost of sales 19,851 17,191 37,950 29,192
Owned restaurant operating expenses 44,309 35,336 83,682 63,242
Total owned operating expenses 64,160 52,527 121,632 92,434
General and administrative (including stock-based compensation of $911, $1,137, $1,790 and $2,159 for the three and six months ended June 30, 2022 and 2021, respectively) 7,261 6,139 14,140 11,313
Depreciation and amortization 2,926 2,495 5,641 5,194
COVID-19 related expenses 221 1,088 2,534 2,645
Agreement restructuring expenses   494   494
Pre-opening expenses 804 154 1,149 255
Lease termination expenses   107 255 294
Total costs and expenses 75,372 63,004 145,351 112,629
Operating income 5,753 7,756 9,955 8,613
Other expenses, net:        
Interest expense, net 444 1,235 952 2,481
Gain on CARES Act Loan forgiveness   8,561   8,561
Total other expenses, net 444 (7,326) 952 (6,080)
Income before provision for income taxes 5,309 15,082 9,003 14,693
Provision for income taxes 869 973 1,042 644
Net income 4,440 14,109 7,961 14,049
Less: net income (loss) attributable to noncontrolling interest 137 273 (12) 143
Net income attributable to The One Group Hospitality, Inc. 4,303 13,836 7,973 13,906
Currency translation (loss) gain (169) 8 (261) (10)
Comprehensive income attributable to The ONE Group Hospitality, Inc. $ 4,134 $ 13,844 $ 7,712 $ 13,896
Net income attributable to The ONE Group Hospitality, Inc. per share:        
Basic net income per share $ 0.13 $ 0.44 $ 0.25 $ 0.46
Diluted net income per share $ 0.13 $ 0.41 $ 0.23 $ 0.41
Shares used in computing basic income per share 32,601,203 31,248,677 32,411,570 30,239,364
Shares used in computing diluted income per share 33,959,991 34,028,735 34,123,142 33,683,652

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