Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:    
Owned restaurant net revenue $ 78,579 $ 70,516
Management, license and incentive fee revenue 3,977 3,665
Total revenues 82,556 74,181
Owned operating expenses:    
Owned restaurant cost of sales 18,855 18,099
Owned restaurant operating expenses 46,827 39,373
Total owned operating expenses 65,682 57,472
General and administrative (including stock-based compensation of $1,320 and $879 for the three months ended March 31, 2023 and 2022, respectively) 7,484 6,879
Depreciation and amortization 3,656 2,715
Pre-opening expenses 1,299 345
COVID-19 related expenses   2,313
Lease termination expenses   255
Other expenses 157  
Total costs and expenses 78,278 69,979
Operating income 4,278 4,202
Other expenses, net:    
Interest expense, net of interest income 1,787 508
Total other expenses, net 1,787 508
Income before provision for income taxes 2,491 3,694
Provision for income taxes 161 173
Net income 2,330 3,521
Less: net loss attributable to noncontrolling interest (276) (149)
Net income attributable to The ONE Group Hospitality, Inc. 2,606 3,670
Currency translation loss (70) (92)
Comprehensive income attributable to The ONE Group Hospitality, Inc. $ 2,536 $ 3,578
Net income attributable to The ONE Group Hospitality, Inc. per share:    
Basic net income per share $ 0.08 $ 0.11
Diluted net income per share $ 0.08 $ 0.11
Shares used in computing basic income per share 31,677,232 32,231,210
Shares used in computing diluted income per share 32,997,751 34,245,445