Income Statement

v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Owned restaurant net revenue $ 67,848 $ 16,529 $ 117,016 $ 55,086
Management, license and incentive fee revenue 2,912 135 4,226 2,297
Total revenues 70,760 16,664 121,242 57,383
Owned operating expenses:        
Owned restaurant cost of sales 17,191 4,174 29,192 14,287
Owned restaurant operating expenses 35,336 12,038 63,242 38,537
Total owned operating expenses 52,527 16,212 92,434 52,824
General and administrative (including stock-based compensation of $1,137, $482, $2,159, and $820 for the three and six months ended June 30, 2021 and 2020, respectively) 6,139 2,438 11,313 5,835
Depreciation and amortization 2,495 2,510 5,194 4,950
COVID-19 related expenses 1,088 695 2,645 2,043
Agreement restructuring expenses 494   494  
Pre-opening expenses 154   255  
Lease termination expenses 107 89 294 268
Transaction costs   14   1,109
Other income, net   (11)   (12)
Total costs and expenses 63,004 21,947 112,629 67,017
Operating income (loss) 7,756 (5,283) 8,613 (9,634)
Other (income) expenses, net:        
Interest expense, net of interest income 1,235 1,195 2,481 2,370
Gain on CARES Act Loan forgiveness (8,561)   (8,561)  
Total other (income) expenses, net (7,326) 1,195 (6,080) 2,370
Income (loss) before benefit for income taxes 15,082 (6,478) 14,693 (12,004)
Provision (benefit) for income taxes 973 (3,228) 644 (3,881)
Net income (loss) 14,109 (3,250) 14,049 (8,123)
Less: net income (loss) attributable to noncontrolling interest 273 (378) 143 (652)
Net income (loss) attributable to The One Group Hospitality, Inc. 13,836 (2,872) 13,906 (7,471)
Currency translation gain (loss) 8 2 (10) (42)
Comprehensive income (loss) attributable to The ONE Group Hospitality, Inc. $ 13,844 $ (2,870) $ 13,896 $ (7,513)
Net income (loss) attributable to The ONE Group Hospitality, Inc. per share:        
Basic net income (loss) per share $ 0.44 $ (0.10) $ 0.46 $ (0.26)
Diluted net income (loss) per share $ 0.41 $ (0.10) $ 0.41 $ (0.26)
Shares used in computing basic income (loss) per share 31,248,677 28,907,568 30,239,364 28,778,544
Shares used in computing diluted income (loss) per share 34,028,735 28,907,568 33,683,652 28,778,544

Source