Income Statement

v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Owned restaurant net revenue $ 67,966 $ 37,822 $ 184,982 $ 92,908
Management, license and incentive fee revenue 3,903 1,745 8,129 4,042
Total revenues 71,869 39,567 193,111 96,950
Owned operating expenses:        
Owned restaurant cost of sales 17,733 9,091 46,925 23,378
Owned restaurant operating expenses 38,640 22,454 101,882 60,991
Total owned operating expenses 56,373 31,545 148,807 84,369
General and administrative (including stock-based compensation of $653, $496, $2,812, and $1,316 for the three and nine months ended September 30, 2021 and 2020, respectively) 5,959 3,400 17,272 9,235
Depreciation and amortization 2,572 2,655 7,766 7,605
COVID-19 related expenses 1,131 1,716 3,776 3,759
Agreement restructuring expenses     494  
Pre-opening expenses 587 45 842 45
Lease termination expenses 58 185 352 453
Transaction costs 131   131 1,109
Other income, net   1   (11)
Total costs and expenses 66,811 39,547 179,440 106,564
Operating income (loss) 5,058 20 13,671 (9,614)
Other (income) expenses, net:        
Interest expense, net of interest income 781 1,280 3,262 3,650
Loss on early debt extinguishment 600   600  
Gain on CARES Act Loan forgiveness (9,968)   (18,529)  
Total other (income) expenses, net (8,587) 1,280 (14,667) 3,650
Income (loss) before provision (benefit) for income taxes 13,645 (1,260) 28,338 (13,264)
Provision (benefit) for income taxes 1,544 (350) 2,188 (4,231)
Net income (loss) 12,101 (910) 26,150 (9,033)
Less: net income (loss) attributable to noncontrolling interest 430 (35) 573 (687)
Net income (loss) attributable to The One Group Hospitality, Inc. 11,671 (875) 25,577 (8,346)
Currency translation gain (loss) (34) 19 (44) (23)
Comprehensive income (loss) attributable to The ONE Group Hospitality, Inc. $ 11,637 $ (856) $ 25,533 $ (8,369)
Net income (loss) attributable to The ONE Group Hospitality, Inc. per share:        
Basic net income (loss) per share $ 0.36 $ (0.03) $ 0.83 $ (0.29)
Diluted net income (loss) per share $ 0.34 $ (0.03) $ 0.75 $ (0.29)
Shares used in computing basic income (loss) per share 31,993,557 29,010,348 30,830,521 28,857,990
Shares used in computing diluted income (loss) per share 34,380,573 29,010,348 34,223,857 28,857,990

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