Loading...
•
Dec 30, 2024
One Group Hospitality Q4 2024 Earnings Report
The ONE Group Hospitality, Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024.
Key Takeaways
The ONE Group Hospitality, Inc. experienced significant growth in the fourth quarter of 2024, with total GAAP revenues increasing by 146.7% and Adjusted EBITDA increasing by 147.6% compared to the same quarter in 2023. Despite a decrease in consolidated comparable sales, the company saw strong operating income growth and achieved its annual revenue and adjusted EBITDA targets.
Total GAAP revenues for Q4 2024 increased by 146.7% to $221.9 million.
Adjusted EBITDA for Q4 2024 increased by 147.6% to $30.3 million.
Operating income for Q4 2024 increased by 158.9% to $12.8 million.
Consolidated comparable sales decreased by 4.3% in Q4 2024.
One Group Hospitality
One Group Hospitality
One Group Hospitality Revenue by Segment
Revenue by Segment
Owned Restaurant Net Revenue
CapyFin.comManagement, License, and Incentive Fee Revenue
CapyFin.com Forward Guidance
For Q1 2025, The ONE Group Hospitality, Inc. expects total GAAP revenues between $200 million and $205 million, with consolidated comparable sales projected to decrease by 3% to 4%. Adjusted EBITDA is expected to be between $24 million and $26 million.
Positive Outlook
- Expected total GAAP revenues of $200 million to $205 million for Q1 2025.
- Anticipated Adjusted EBITDA of $24 million to $26 million for Q1 2025.
- Plans to open 1-2 new system-wide venues in Q1 2025.
- Intends to add five to seven venues in 2025, including asset light development.
- Will open an owned Benihana in San Mateo, California in March 2025.
Challenges Ahead
- Consolidated comparable sales expected to decrease by 4% to 3% in Q1 2025.
- Total owned operating expenses as a percentage of owned restaurant net revenue expected to be approximately 83.0%.
- Consolidated total G&A, excluding stock-based compensation, expected to be approximately $11 million.
- Consolidated restaurant pre-opening expenses expected to be $1.5 million to $2 million.
- Consolidated effective income tax rate not provided due to unpredictability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income