The ONE Group Hospitality, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Segment Reporting (Tables)

Segment Reporting (Tables)

9 Months Ended

Sep. 28, 2025

Certain financial information relating to the three and nine periods ended September 28, 2025 and the three and nine months ended September 30, 2024 for each segment is provided below (in thousands).


	STK		Benihana		Grill Concepts		Other⁽¹⁾		Total
For the three periods ended September 28, 2025
Owned restaurant net revenue	$	45,832	$	99,994	$	31,383	$	215	$	177,424
Owned restaurant cost of sales		(11,131)		(19,318)		(6,961)		(2)		(37,412)
Owned restaurant operating expenses		(28,822)		(66,748)		(24,303)		(28)		(119,901)
Restaurant operating profit		5,879		13,928		119		185		20,111
Management, license, franchise and incentive fee revenue		2,234		467		—		75		2,776
General and administrative expenses										(12,028)
Stock based compensation										(1,246)
Depreciation and amortization										(11,530)
Loss on impairment of long-lived assets										(3,386)
Transition and integration expenses										(2,607)
Pre-opening expenses										(698)
Transaction and exit costs										(13)
Lease termination and exit income (expenses)										278
Other income (expenses)										470
Interest expense, net of interest income										(10,483)
Loss before benefit for income taxes										(18,356)

Reconciliation of total revenues
Owned restaurant net revenues										177,424
Management, license, franchise, and incentive fee revenue										2,776
Total revenues									$	180,200


	STK		Benihana		Grill Concepts		Other⁽¹⁾		Total
For the three months ended September 30, 2024
Owned restaurant net revenue	$	44,724	$	103,770	$	41,834	$	259	$	190,587
Owned restaurant cost of sales		(10,941)		(19,801)		(9,130)		(8)		(39,880)
Owned restaurant operating expenses		(27,236)		(66,859)		(32,071)		(57)		(126,223)
Restaurant operating profit		6,547		17,110		633		194		24,484
Management, license, franchise and incentive fee revenue		2,667		675		—		46		3,388
General and administrative expenses										(11,234)
Stock based compensation										(1,580)
Depreciation and amortization										(9,416)
Transition and integration expenses										(6,274)
Pre-opening expenses										(2,118)
Transaction and exit costs										(850)
Other income (expenses)										(46)
Interest expense, net of interest income										(10,679)
Loss before benefit for income taxes										(14,325)

Reconciliation of total revenues
Owned restaurant net revenue										190,587
Management, license, franchise and incentive fee revenue										3,388
Total revenues									$	193,975


	STK		Benihana		Grill Concepts		Other⁽¹⁾		Total
For the nine periods ended September 28, 2025
Owned restaurant net revenue	$	152,017	$	330,735	$	105,489	$	488	$	588,729
Owned restaurant cost of sales		(36,577)		(64,246)		(22,892)		(7)		(123,722)
Owned restaurant operating expenses		(91,169)		(208,903)		(77,859)		(238)		(378,169)
Restaurant operating profit		24,271		57,586		4,738		243		86,838
Management, license, franchise and incentive fee revenue		8,271		1,489		—		219		9,979
General and administrative expenses										(33,679)
Stock based compensation										(4,348)
Depreciation and amortization										(32,229)
Loss on impairment of long-lived assets										(3,386)
Transition and integration expenses										(10,275)
Pre-opening expenses										(3,958)
Transaction and exit costs										(143)
Lease termination and exit income (expenses)										(5,428)
Other income (expenses)										147
Interest expense, net of interest income										(30,600)
Loss before benefit for income taxes										(27,082)

Reconciliation of total revenues
Owned restaurant net revenues										588,729
Management, license, franchise, and incentive fee revenue										9,979
Total revenues									$	598,708


	STK		Benihana		Grill Concepts		Other⁽¹⁾		Total
For the nine months ended September 30, 2024
Owned restaurant net revenue	$	145,770	$	181,655	$	113,286	$	405	$	441,116
Owned restaurant cost of sales		(35,161)		(35,055)		(24,240)		(15)		(94,471)
Owned restaurant operating expenses		(83,840)		(113,325)		(82,373)		(95)		(279,633)
Restaurant operating profit		26,769		33,275		6,673		295		67,012
Management, license, franchise and incentive fee revenue		9,023		1,096		—		229		10,348
General and administrative expenses										(26,549)
Stock based compensation										(4,433)
Depreciation and amortization										(22,701)
Transition and integration expenses										(10,068)
Pre-opening expenses										(7,548)
Transaction and exit costs										(8,728)
Lease termination and exit income (expenses)										(471)
Other income (expenses)										(78)
Interest expense, net of interest income										(20,622)
Loss on early debt extinguishment										(4,149)
Loss before benefit for income taxes										(27,987)

Reconciliation of total revenues
Owned restaurant net revenue										441,116
Management, license, franchise and incentive fee revenue										10,348
Total revenues									$	451,464

(1) Other includes sales and expenses that relate to STK Meat Market, an e-commerce platform that offers signature steak cuts nationwide; sales and expenses that relate to the Company’s major off-site events group, which supports all brands and venue concepts; and revenue generated from gift card programs.