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Dec 31, 2023
Gen Q4 2023 Earnings Report
Announced financial results for the fourth quarter and year ended December 31, 2023.
Key Takeaways
GEN Restaurant Group reported a 10.4% increase in revenue to $45.1 million for Q4 2023, compared to $40.8 million in Q4 2022. However, comparable restaurant sales decreased by 1.7%. The company's net loss was $(0.2) million, and adjusted EBITDA was $1.6 million.
Revenue increased 10.4% to $45.1 million, compared to $40.8 million in the fourth quarter of 2022.
Comparable restaurant sales decreased 1.7% as compared to the fourth quarter in 2022.
Restaurant-level adjusted EBITDA was $7.2 million and 16.0% of revenue.
Adjusted EBITDA was $1.6 million and 3.6% of revenue inclusive of pre-opening expense of approximately $1.2 million.
Gen
Gen
Forward Guidance
The company looks forward to capturing the immense opportunities ahead and enhancing long-term shareholder value.