Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 28, 2025
Sep. 30, 2024
Sep. 28, 2025
Sep. 30, 2024
Revenues:        
Owned restaurant net revenue $ 177,424 $ 190,587 $ 588,729 $ 441,116
Management, license, franchise and incentive fee revenue 2,776 3,388 9,979 10,348
Total revenues 180,200 193,975 598,708 451,464
Owned operating expenses:        
Owned restaurant cost of sales 37,412 39,880 123,722 94,471
Owned restaurant operating expenses 119,901 126,223 378,169 279,633
Total owned operating expenses 157,313 166,103 501,891 374,104
General and administrative (including stock-based compensation of $1,246 and $4,348 for the three and nine periods ended September 28, 2025, respectively, and $1,580 and $4,433 for the three and nine months ended September 30, 2024, respectively) 13,274 12,814 38,027 30,982
Depreciation and amortization 11,530 9,416 32,229 22,701
Loss on impairment of long-lived assets 3,386   3,386  
Transition and integration expenses 2,607 6,274 10,275 10,068
Pre-opening expenses 698 2,118 3,958 7,548
Transaction and exit costs 13 850 143 8,728
Lease termination and exit (income) expenses (278)   5,428 471
Other (income) expenses (470) 46 (147) 78
Total costs and expenses 188,073 197,621 595,190 454,680
Operating (loss) income (7,873) (3,646) 3,518 (3,216)
Other expenses, net:        
Interest expense, net of interest income 10,483 10,679 30,600 20,622
Loss on early debt extinguishment       4,149
Total other expenses, net 10,483 10,679 30,600 24,771
Loss before provision (benefit) for income taxes (18,356) (14,325) (27,082) (27,987)
Provision (benefit) for income taxes 59,141 (4,856) 60,125 (8,583)
Net loss (77,497) (9,469) (87,207) (19,404)
Less: net loss attributable to noncontrolling interest (757) (165) (1,338) (689)
Net loss attributable to The ONE Group Hospitality, Inc. (76,740) (9,304) (85,869) (18,715)
Series A Preferred Stock paid-in-kind dividend and accretion (8,535) (7,125) (24,263) (11,663)
Net loss available to common stockholders $ (85,275) $ (16,429) $ (110,132) $ (30,378)
Net loss per common share:        
Net loss per common share Basic (in dollars per share) $ (2.75) $ (0.53) $ (3.55) $ (0.97)
Net loss per common share Diluted (in dollars per share) $ (2.75) $ (0.53) $ (3.55) $ (0.97)
Weighted average common shares outstanding: Basic (in shares) 30,966,736 31,008,275 30,982,081 31,256,946
Weighted average common shares outstanding: Diluted (in shares) 30,966,736 31,008,275 30,982,081 31,256,946