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The ONE Group Hospitality, Inc. (symbol: STKS) is a distinguished player in the hospitality industry, renowned for its development and operation of upscale, high-energy restaurants and lounges. The company is also known for its premier food and beverage service, ONE Hospitality, which delivers turn-key solutions for luxurious venues, including hotels, casinos, and other high-end locations, both domestically and internationally.
The flagship brand of The ONE Group is STK, a unique concept that seamlessly merges a modern steakhouse with a chic lounge. STK offers a dynamic, fine dining experience characterized by high-quality food and a vibrant, social atmosphere. Each STK venue features a DJ to create a high-energy environment, encouraging guests to interact and mingle, thus redefining the contemporary dining experience. STK aims to offer exceptional food, world-class service, and the perfect ambiance all in one place.
In addition to STK, the company's portfolio includes STK Rebel and Kona Grill. STK Rebel provides a similar vibe-driven steakhouse experience with a slightly broader appeal, while Kona Grill offers an extensive menu of contemporary American favorites, sushi, and specialty cocktails.
The ONE Group Hospitality operates through four segments: STK, Kona Grill, ONE Hospitality, and Corporate. The company generates most of its revenue from the domestic market, leveraging its renowned brands and exceptional service to maintain a significant presence in the hospitality sector.
Recent achievements and current projects highlight the company's continued growth and expansion. These include new restaurant openings, innovative dining concepts, and strategic partnerships that enhance its market position. Financially, The ONE Group Hospitality demonstrates a solid performance, reflecting its commitment to quality and customer satisfaction.
Stay updated with the latest news and developments about The ONE Group Hospitality, Inc. to learn more about its performance, events, and new initiatives shaping the future of dining experiences.
The ONE Group Hospitality, Inc. (Nasdaq: STKS) reported impressive financial results for Q2 2021, with total GAAP revenues soaring 324.6% to $70.8 million compared to $16.7 million in Q2 2020. The company achieved a net income of $13.8 million or $0.41 per share, a stark recovery from a $2.9 million loss in the same quarter last year. Adjusted EBITDA reached a record $12.9 million, up from a loss of $0.8 million. Comparable sales also showed robust growth, with STK increasing 54.3% and Kona Grill 23.0% year-over-year.
The ONE Group Hospitality, Inc. (Nasdaq: STKS) will host a conference call on August 10, 2021, at 4:30 PM ET to discuss its second quarter 2021 financial results. A press release with the results will be shared post-market close on the same day. Interested parties can join the conference via phone or access the webcast through The ONE Group’s website. The company operates upscale dining venues, including STK and Kona Grill, focusing on a high-energy restaurant experience.
The ONE Group Hospitality, Inc. (Nasdaq: STKS) has launched its newest STK Steakhouse in Bellevue, Washington, marking its fourth opening of 2021. The restaurant, located in the Bellevue Collection shopping center, offers a unique Vibe Dining experience featuring a diverse menu, signature cocktails, and live music. Operational standards exceed safety guidelines with a focus on wellness. This opening adds to the company's portfolio, which includes recent launches in Scottsdale, Los Cabos, and London. The restaurant aims to deliver an unmatched dining experience in a vibrant economic area.
The ONE Group Hospitality, Inc. (Nasdaq: STKS) reports a significant uptick in quarter-to-date comparable sales, increasing 35.2% compared to 2019. STK saw a remarkable 49.2% rise, while Kona Grill reported a 22.0% increase. As of May 31, 2021, indoor dining capacity averaged 82% across domestic locations, with all non-seasonal international venues open. The company will participate in major investor conferences in June, including the Piper Sandler Consumer Marketplace Conference and Jefferies Virtual Consumer Conference.
The ONE Group Hospitality, Inc. (Nasdaq: STKS) reported a 24% increase in total GAAP revenues for Q1 2021, reaching $50.5 million, up from $40.7 million in Q1 2020. The company achieved a slight net income of $70,000, or $0.00 per share, compared to a net loss of $4.6 million a year prior. Adjusted EBITDA soared by 312% to $6.5 million. Comparable sales surpassed pre-pandemic levels, with a 32.2% increase in April 2021. The company plans to open thirteen new venues by 2022, reflecting confidence in ongoing recovery despite COVID-19 challenges.
The ONE Group Hospitality, Inc. (Nasdaq: STKS) will host a conference call on May 11, 2021, at 4:30 PM ET to discuss its first quarter 2021 financial results. A press release with the financial details will be issued after the market closes the same day. The call can be accessed by dialing 201-493-6780, with a replay option available until May 25, 2021. The ONE Group operates upscale dining establishments and hospitality services, focusing on Vibe Dining with brands like STK and Kona Grill.
The ONE Group Hospitality, Inc. (Nasdaq: STKS) reported its financial results for Q4 and full year 2020. In Q4, consolidated comparable sales decreased 14.8%, driven by pandemic-related restrictions. Q4 total revenues fell 13.8% to $45.0 million, with a GAAP net loss of $4.5 million compared to a profit of $19.8 million in Q4 2019. Full year revenues rose 17.6% to $141.9 million, largely due to the acquisition of Kona Grill. The company plans to open 13 new venues by 2022, indicating growth potential despite current challenges.
The ONE Group Hospitality, Inc. (Nasdaq: STKS) reported a 13.8% decrease in fourth-quarter revenues to $45.0 million compared to $52.2 million last year, primarily affected by COVID-19 restrictions. Consolidated comparable sales fell 14.8%, with STK's comparable sales down 20.7% and Kona Grill's down 8.0%. For the full year, total revenues rose 17.6% to $141.9 million, driven by Kona Grill acquisitions. The company plans to open 13 new venues by 2022 and noted increased demand for takeout and delivery.
The ONE Group Hospitality, Inc. (Nasdaq: STKS) has scheduled a conference call for March 16, 2021, at 4:30 PM ET to discuss its fourth quarter and year-end financial results for 2020. This call will be hosted by CEO Emanuel Hilario and CFO Tyler Loy. A press release will precede the call, providing key financial metrics. The call will be accessible via phone and webcast through the Investor Relations section of The ONE Group's website. The company aims to be a leader in Vibe Dining, operating brands such as STK and Kona Grill.
The ONE Group Hospitality, Inc. (Nasdaq: STKS) announced its participation in two investor conferences this January.
On January 12, 2021, the Company will present virtually at the 23rd Annual ICR Conference beginning at 10:30 AM ET, accessible via the Investor Relations section of their website.
Additionally, The ONE Group will engage in the virtual Jefferies 10th Annual Winter Summit from January 19-20, 2021, focusing on restaurants, foodservice, and leisure.
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