Income Statement

v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Owned restaurant net revenue $ 73,700 $ 69,538 $ 232,202 $ 216,984
Management, license and incentive fee revenue 3,184 3,482 10,631 11,342
Total revenues 76,884 73,020 242,833 228,326
Owned operating expenses:        
Owned restaurant cost of sales 18,230 17,281 56,300 55,231
Owned restaurant operating expenses 46,372 43,136 141,983 126,818
Total owned operating expenses 64,602 60,417 198,283 182,049
General and administrative (including stock-based compensation of $1,244, $1,001, $3,798, $2,791 for the three and nine months ended September 30, 2023 and 2022, respectively) 7,280 6,447 22,803 20,587
Depreciation and amortization 3,732 2,930 10,894 8,571
Pre-opening expenses 3,097 2,684 6,005 3,833
COVID-19 related expenses       2,534
Lease termination expenses       255
Other expenses 128 51 480 51
Total costs and expenses 78,839 72,529 238,465 217,880
Operating (loss) income (1,955) 491 4,368 10,446
Other expenses, net:        
Interest expense, net of interest income 1,673 435 5,102 1,387
Total other expenses, net 1,673 435 5,102 1,387
(Loss) Income before provision for income taxes (3,628) 56 (734) 9,059
(Benefit) provision for income taxes (375) (321) (227) 721
Net (loss) income (3,253) 377 (507) 8,338
Less: net loss attributable to noncontrolling interest (155) (105) (583) (117)
Net (loss) income attributable to The ONE Group Hospitality, Inc. (3,098) 482 76 8,455
Currency translation loss (112) (87) (130) (348)
Comprehensive (loss) income attributable to The ONE Group Hospitality, Inc. $ (3,210) $ 395 $ (54) $ 8,107
Net (loss) income attributable to The ONE Group Hospitality, Inc. per share:        
Basic net (loss) income per share (in dollars per share) $ (0.10) $ 0.01   $ 0.26
Diluted net (loss) income per share (in dollars per share) $ (0.10) $ 0.01   $ 0.25
Shares used in computing basic (loss) income per share (in shares) 31,515,011 32,663,549 31,657,761 32,496,780
Shares used in computing diluted (loss) income per share (in shares) 31,515,011 33,921,498 32,537,572 34,062,661

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