The One Group Hospitality ( (STKS) ) has released its Q1 earnings. Here is a breakdown of the information The One Group Hospitality presented to its investors.
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The ONE Group Hospitality, Inc. is an international restaurant company specializing in upscale and polished casual dining, known for its high-energy restaurants and hospitality management services in the U.S. and internationally.
In the first quarter of 2025, The ONE Group reported a significant increase in revenues by 148.4% to $211.1 million, driven by the acquisition of Benihana Inc. and growth in STK transactions. Despite a decrease in consolidated comparable sales, the company saw improvements in operating income and restaurant EBITDA.
Key financial highlights include an increase in operating income to $10.7 million from a previous loss, a 162.7% rise in restaurant EBITDA to $34.0 million, and a 233% increase in adjusted EBITDA to $25.2 million. However, the company reported a GAAP net loss of $6.6 million, attributed to preferred stock dividends and accretion.
Looking ahead, The ONE Group plans to open five to seven new venues in 2025, focusing on both company-owned and asset-light development strategies. The management reiterates its full-year guidance for 2025, aiming for $20 million in acquisition synergies by 2026, reflecting confidence in continued growth and profitability.