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Yoshiharu Provides Corporate Update and Fourth Quarter and Full Year 2024 Financial Results

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Yoshiharu (NASDAQ: YOSH) reported strong Q4 2024 results with revenue increasing 47% to $3.7 million and net income of $0.5 million. Full-year 2024 revenue grew 39.3% to $12.8 million. The company regained NASDAQ compliance through financing commitments of $3.56 million and conversion of $2.5 million debt to equity.

The company expanded to 15 locations with recent openings in Menifee, CA and San Clemente, with one additional location under development in Ontario. Growth was primarily driven by three new Las Vegas restaurants acquired in April 2024. Despite industry headwinds from input costs and consumer price sensitivity, Yoshiharu maintained strong Average Unit Volume.

The company plans further expansion in Southern California and international markets including Paris, London, and South Korea. New initiatives include implementing kiosks and cooking robots to reduce labor costs.

Yoshiharu (NASDAQ: YOSH) ha riportato risultati solidi per il quarto trimestre del 2024, con un aumento del fatturato del 47%, raggiungendo 3,7 milioni di dollari e un utile netto di 0,5 milioni di dollari. Il fatturato per l'intero anno 2024 è cresciuto del 39,3%, arrivando a 12,8 milioni di dollari. L'azienda ha riconquistato la conformità con NASDAQ grazie a impegni di finanziamento per 3,56 milioni di dollari e alla conversione di 2,5 milioni di dollari di debito in capitale.

L'azienda si è espansa a 15 sedi, con recenti aperture a Menifee, CA, e San Clemente, e un'ulteriore sede in fase di sviluppo a Ontario. La crescita è stata principalmente guidata dall'acquisizione di tre nuovi ristoranti a Las Vegas avvenuta ad aprile 2024. Nonostante le difficoltà del settore dovute ai costi delle materie prime e alla sensibilità dei prezzi da parte dei consumatori, Yoshiharu ha mantenuto un forte volume medio per unità.

L'azienda prevede ulteriori espansioni nel sud della California e in mercati internazionali, tra cui Parigi, Londra e Corea del Sud. Le nuove iniziative includono l'implementazione di chioschi e robot da cucina per ridurre i costi del lavoro.

Yoshiharu (NASDAQ: YOSH) reportó resultados sólidos para el cuarto trimestre de 2024, con un aumento del 47% en los ingresos, alcanzando 3.7 millones de dólares y un ingreso neto de 0.5 millones de dólares. Los ingresos del año completo 2024 crecieron un 39.3% hasta 12.8 millones de dólares. La empresa recuperó el cumplimiento con NASDAQ a través de compromisos de financiamiento de 3.56 millones de dólares y la conversión de 2.5 millones de dólares de deuda en capital.

La empresa se expandió a 15 ubicaciones con aperturas recientes en Menifee, CA, y San Clemente, y una ubicación adicional en desarrollo en Ontario. El crecimiento fue impulsado principalmente por la adquisición de tres nuevos restaurantes en Las Vegas en abril de 2024. A pesar de los vientos en contra de la industria debido a los costos de insumos y la sensibilidad de precios de los consumidores, Yoshiharu mantuvo un fuerte volumen medio por unidad.

La empresa planea una mayor expansión en el sur de California y en mercados internacionales, incluyendo París, Londres y Corea del Sur. Las nuevas iniciativas incluyen la implementación de quioscos y robots de cocina para reducir costos laborales.

요시하루 (NASDAQ: YOSH)는 2024년 4분기 실적을 발표하며 매출이 47% 증가하여 370만 달러에 이르고, 순이익은 50만 달러에 달했다고 보고했습니다. 2024년 전체 매출은 39.3% 증가하여 1280만 달러에 도달했습니다. 회사는 356만 달러의 자금 지원 약속과 250만 달러의 부채를 자본으로 전환하여 NASDAQ 준수를 회복했습니다.

회사는 최근 캘리포니아주 메니피와 샌 클레멘트에 새로운 매장을 열어 15개 매장으로 확장했으며, 온타리오에서 추가 매장이 개발 중입니다. 성장은 2024년 4월에 인수한 라스베가스의 세 개의 새로운 레스토랑에 의해 주로 추진되었습니다. 원자재 비용과 소비자 가격 민감도 등의 산업적 어려움에도 불구하고, 요시하루는 강력한 평균 단위 판매량을 유지했습니다.

회사는 남부 캘리포니아와 파리, 런던, 한국을 포함한 국제 시장으로의 추가 확장을 계획하고 있습니다. 새로운 이니셔티브에는 노동 비용을 줄이기 위한 키오스크와 요리 로봇의 도입이 포함됩니다.

Yoshiharu (NASDAQ: YOSH) a annoncé de solides résultats pour le quatrième trimestre 2024, avec un chiffre d'affaires en hausse de 47%, atteignant 3,7 millions de dollars et un bénéfice net de 0,5 million de dollars. Le chiffre d'affaires annuel 2024 a progressé de 39,3% pour atteindre 12,8 millions de dollars. L'entreprise a retrouvé la conformité avec le NASDAQ grâce à des engagements de financement de 3,56 millions de dollars et à la conversion de 2,5 millions de dollars de dettes en capitaux propres.

L'entreprise s'est étendue à 15 emplacements, avec des ouvertures récentes à Menifee, en Californie, et à San Clemente, et un emplacement supplémentaire en développement à Ontario. La croissance a été principalement tirée par l'acquisition de trois nouveaux restaurants à Las Vegas en avril 2024. Malgré les vents contraires de l'industrie dus aux coûts des matières premières et à la sensibilité des prix des consommateurs, Yoshiharu a maintenu un fort volume moyen par unité.

L'entreprise prévoit une expansion supplémentaire dans le sud de la Californie et sur les marchés internationaux, y compris Paris, Londres et la Corée du Sud. Les nouvelles initiatives comprennent la mise en œuvre de kiosques et de robots de cuisine pour réduire les coûts de main-d'œuvre.

Yoshiharu (NASDAQ: YOSH) berichtete über starke Ergebnisse im vierten Quartal 2024, mit einem Umsatzanstieg von 47% auf 3,7 Millionen Dollar und einem Nettogewinn von 0,5 Millionen Dollar. Der Umsatz für das gesamte Jahr 2024 wuchs um 39,3% auf 12,8 Millionen Dollar. Das Unternehmen stellte die NASDAQ-Konformität durch Finanzierungszusagen in Höhe von 3,56 Millionen Dollar und die Umwandlung von 2,5 Millionen Dollar Schulden in Eigenkapital wieder her.

Das Unternehmen hat sich auf 15 Standorte ausgeweitet, mit kürzlichen Eröffnungen in Menifee, Kalifornien, und San Clemente, sowie einem weiteren Standort in der Entwicklung in Ontario. Das Wachstum wurde hauptsächlich durch die Übernahme von drei neuen Restaurants in Las Vegas im April 2024 vorangetrieben. Trotz der Herausforderungen der Branche durch Inputkosten und Preissensibilität der Verbraucher hielt Yoshiharu ein starkes durchschnittliches Umsatzvolumen pro Einheit aufrecht.

Das Unternehmen plant eine weitere Expansion in Südkalifornien und internationale Märkte, einschließlich Paris, London und Südkorea. Neue Initiativen umfassen die Implementierung von Kiosken und Kochrobotern zur Senkung der Arbeitskosten.

Positive
  • Q4 2024 revenue grew 47.4% to $3.7 million
  • Q4 2024 achieved net income of $0.5 million
  • Full year 2024 revenue increased 39.3% to $12.8 million
  • Secured $3.56 million in financing and converted $2.5 million debt to equity
  • Expanded to 15 locations with additional development planned
  • Operating expenses improved to 88% of revenue vs 96% in prior period
Negative
  • Full year 2024 operating loss of $2.6 million
  • Full year net loss of $2.7 million
  • Cash balance decreased to $1.2 million from $1.5 million YoY
  • Facing headwinds from increased input costs and consumer price sensitivity

Insights

Yoshiharu's Q4 and FY2024 results reveal a clear financial turnaround with multiple positive catalysts. The company's $3.7 million in Q4 revenue represents 47% year-over-year growth, culminating in a profitable quarter with $0.5 million in net income. Full-year revenue reached $12.8 million, up 39.3% from 2023.

The regained NASDAQ compliance removes a significant overhang for investors and was achieved through a strategic financial restructuring: $3.56 million in new financing commitments plus conversion of $2.5 million debt to equity. This not only strengthens the balance sheet but demonstrates investor confidence in their business model.

Restaurant operating expenses as a percentage of revenue improved to 88% in 2024 from 96% in 2023, reflecting enhanced operational efficiency. While the full-year still showed a $2.7 million net loss, this represents improvement from the $3.0 million loss in 2023.

The revenue growth stems primarily from expansion, with three Las Vegas restaurants acquired in April 2024 and two additional locations opened. With 15 current locations and more under development, including signed MOUs for international expansion, Yoshiharu has established a clear growth trajectory.

However, the $1.2 million cash position (down from $1.5 million YoY) warrants monitoring against their ambitious expansion plans. The company's technological initiatives like self-ordering kiosks and cooking automation present potential margin expansion opportunities that could accelerate their path to consistent profitability.

Regains Compliance with NASDAQ Stockholders’ Equity Requirement

Fourth Quarter 2024 Revenues Increase 47% to $3.7 Million

Fourth Quarter Net Income Increase to $0.5 Million

Full Year 2024 Revenues Increase 39% to $12.8 Million

Two New Restaurants Bring the Number of Locations to 15 with 1 Additional Location Under Development

BUENA PARK, Calif., April 02, 2025 (GLOBE NEWSWIRE) -- Yoshiharu Global Co. (NASDAQ: YOSH) ("Yoshiharu" or the "Company"), a restaurant operator specializing in authentic Japanese ramen & rolls, today provided a corporate update and results for the fourth quarter and full year ended December 31, 2024.

On March 31, 2025, Yoshiharu announced that it had received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it has regained compliance with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1). Based on the Company’s financing commitments, debt restructuring and additional financing commitments announced on March 20, 2025, and March 26, 2025, respectively, Nasdaq determined that the Company complies with the minimum stockholders’ equity requirement and this matter is now closed.

James Chae, Yoshiharu’s President, CEO and Chairman of the Board, commented, “Operationally, we recently took the opportunity to strengthen our balance sheet and, as a result, are now in compliance with Nasdaq’s minimum stockholders’ equity requirement and our security will continue to be listed and traded on The Nasdaq Stock Market. The new financing commitments of $3.56 million from multiple parties and conversion of $2.5 million in debt to equity provides additional momentum in the months to come as we execute on our growth initiatives.”

Anticipated Milestones

  • Domestic and International Expansion
    • Open 2 - 3 new locations focusing on Southern California, while expanding to other locations including Boston, Seattle, and Montana.
    • Open new locations in Paris, London, and South Korea.
  • Expect to initiate sales of franchises in 2025

Fourth Quarter 2024 and Recent Operational Highlights

  • Grand opening of two new restaurants in Menifee, CA, and San Clemente, bringing the number of locations to 15 with 1 additional location under development in Ontario, CA.
  • Appointed Sungjoon Chae to its Board of Directors, a distinguished architect and urban designer with extensive experience in shaping sustainable and innovative spaces, to help support expansion.
  • Entered into a non-binding Memorandum of Understanding (“MoU”) with Chengdu Octaday Entertainment Group to introduce Yoshiharu Global’s cuisine in Sichuan Province, China, with a rich and diverse culture and home to over 83 million people.
  • Entered into a non-binding MoU with Xing Sheng Group to introduce a new flagship Yoshiharu restaurant in Shenyang, China, home to over 43 million people.
  • Secured financing commitments of $3.56 million from multiple parties and converted $2.5 million in debt to equity and, as a result of such financing transactions, to regain compliance with the stockholders’ equity requirement for continued listing on Nasdaq.
  • Full year 2024 revenue increased 39.3% to $12.8 million.

Management Commentary

Mr. Chae continued, “The fourth quarter of 2024 was underscored by strong revenue growth and profitably, driven by continued momentum with the opening of new U.S. locations, and entered into agreements to expand our geographic footprint internationally. In the fourth quarter, 47% revenue growth to $3.7 million and net income of $0.5 million was achieved primarily by our restaurant service across Southern California, Las Vegas and diversified mix of service channels, including takeout and delivery. We have successfully optimized operating expenses while maintaining a strong Average Unit Volume (“AUV”) comparable to previous periods, despite continued headwinds from input costs, consumer price sensitivity, and higher cost of capital.

“In the U.S., we recently celebrated the grand opening of our newest US location in Menifee, one of the fastest-growing cities in Southern California. The new location benefits from Menifee’s rapid development and business-friendly environment. With one more location currently under development in Ontario, Canada, we continue to explore and evaluate new restaurant developments via corporate-owned restaurants, and through the development of a franchise program to accelerate national expansion and international openings.

“We also welcomed our new Board member Sungjoon Chae, who brings his deep expertise in architecture and design, specifically spaces that coalesce aesthetics and functionality, to support our global expansion efforts.

“Looking ahead, we are focused on further improvement to top- and bottom-line growth, and additional strategic expansion in the U.S. and China. Although the food and beverage markets are facing challenges such as increased input costs, consumer price sensitivity, and higher cost of capital, we have been able to improve operating expenses and have maintained a competitive AUV comparable to prior periods. New initiatives such as diversifying our mix of service channels, adding kiosks across our stores, and utilizing cooking robots to reduce labor costs will further growth and efficiencies. We look forward to additional updates on our anticipated milestones in the weeks and months to come,” concluded Chae.

Fourth Quarter 2024 Financial Results

Revenues increased 47.4% to $3.7 million compared to $2.5 million in the prior year period. The increase was primarily driven by sales generated by the three new Las Vegas restaurants acquired in April 2024.

Total restaurant operating expenses were $2.6 million compared to $2.3 million in the prior year. The increase was primarily driven by increases in revenues from the three new Las Vegas restaurants.

Operating income increased to $0.2 million compared to an operating loss of ($0.7) million for the prior year as a result of the increase in revenue related to sales generated by the new restaurant in San Clemente and seasonal effect.

Net income was $537,268 compared to $8,597 in the prior year primarily due to the increase in revenue while costs stayed comparatively the same.

Full Year 2024 Financial Results

Revenues increased 39.3% to $12.8 million compared to $9.2 million in the prior year. The increase was primarily driven by sales generated by the three restaurants in Las Vegas acquired in April 2024, and from sales generated by two other new restaurants opened in February and October 2024, which were offset by a decrease in sales generated by other restaurants.

Total restaurant operating expenses were $11.3 million compared to $8.9 million in the prior year. The increase was due to increases in in revenue. As a percentage of the revenue, the operating expenses were 88% compared to 96% in the prior period.

Operating loss improved to ($2.6) million compared to a loss of $(3.5) million in the prior year.

Net loss was $2.7 million compared to a net loss of $3.0 million in the prior year. The improvement was primarily due to the increase in revenue.

The Company’s cash balance totaled $1.2 million on December 31, 2024, compared to $1.5 million on December 31, 2023.

For more information regarding Yoshiharu’s financial results, including financial tables, please see our Form 10-K for year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission (the “SEC"). The Company’s SEC filings can be found on the SEC’s website at www.sec.gov or the Company’s investor relations site at ir.yoshiharuramen.com.

About Yoshiharu Global Co.

Yoshiharu is a fast-growing restaurant operator and was born out of the idea of introducing the modernized Japanese dining experience to customers all over the world. Specializing in Japanese ramen, Yoshiharu gained recognition as a leading ramen restaurant in Southern California within six months of its 2016 debut and has continued to expand its top-notch restaurant service across Southern California and Las Vegas, currently owning and operating 15 restaurants.

For more information, please visit www.yoshiharuramen.com.

Forward Looking Statements

This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding our position to execute on our growth strategy, and our ability to expand our leadership position. These forward-looking statements include, but are not limited to, the Company's beliefs, plans, goals, objectives, expectations, assumptions, estimates, intentions, future performance, other statements that are not historical facts and statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in, or suggested by, these forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our filings with the SEC including our Form 10-K for the year ended December 31, 2024, and subsequent reports we file with the SEC from time to time, which can be found on the SEC's website at www.sec.gov. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Investor Relations Contact:
Larry W Holub
Director
MZ North America
YOSH@mzgroup.us
312-261-6412

 
Yoshiharu Global Co. and Subsidiaries
Consolidated Balance Sheets
 
  December 31, 
  2024  2023 
       
ASSETS        
         
Current Assets:        
Cash $1,241,036  $1,462,326 
Accounts receivable  84,110   - 
Inventories  139,422   73,023 
Total current assets  1,464,568   1,535,349 
         
Non-Current Assets:        
Property and equipment, net  5,130,229   4,092,950 
Operating lease right-of-use asset, net  7,465,611   5,459,708 
Intangible asset  491,223   - 
Goodwill  1,985,645   - 
Other assets  1,035,990   1,931,357 
Total non-current assets  16,108,698   11,484,015 
         
Total assets $17,573,266  $13,019,364 
         
LIABILITIES AND STOCKHOLDERS’ EQUITY        
         
Current Liabilities:        
Accounts payable and accrued expenses $843,322  $647,811 
Line of credit  1,000,000   1,000,000 
Current portion of operating lease liabilities  975,210   572,230 
Current portion of bank notes payables  1,366,350   414,378 
Current portion of loan payable, EIDL  10,924   10,526 
Loans payable to financial institutions  34,282   534,239 
Due to related party  732,710   24,176 
Other payables  1,078,291   65,700 
         
Total current liabilities  6,041,089   3,269,060 
Operating lease liabilities, less current portion  7,324,677   5,689,535 
Bank notes payables, less current portion  1,747,611   991,951 
Loan payable, EIDL, less current portion  404,490   415,339 
Notes payable to related party  600,000   - 
Convertible notes to related party  1,200,000   - 
Total liabilities  17,317,867   10,365,885 
         
Commitments and contingencies        
         
Stockholders’ Equity        
Class A Common Stock - $0.0001 par value; 49,000,000 authorized shares; 1,300,197 and ; 1,230,246 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively  130   123 
Class B Common Stock - $0.0001 par value; 1,000,000 authorized shares; 100,000 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively  10   10 
         
         
Additional paid-in-capital  12,261,901   11,994,119 
Accumulated deficit  (12,006,642)  (9,340,773)
Total stockholders’ equity  255,399   2,653,479 
         
Total liabilities and stockholders’ equity $17,573,266  $13,019,364 


 
Yoshiharu Global Co. and Subsidiaries
Consolidated Statements of Operations
 
  Years Ended December 31, 
  2024  2023 
       
Revenue:        
Food and beverage $12,839,137  $9,214,779 
Total revenue  12,839,137   9,214,779 
         
Restaurant operating expenses:        
Food, beverages and supplies  3,363,182   2,376,961 
Labor  4,838,325   4,234,905 
Rent and utilities  1,770,205   1,129,060 
Delivery and service fees  528,632   563,910 
Depreciation  822,318   545,549 
Total restaurant operating expenses  11,322,662   8,850,385 
         
Net restaurant operating income  1,516,475   364,394 
         
Operating expenses:        
General and administrative  3,831,676   3,419,036 
Related party compensation  139,769   339,740 
Advertising and marketing  100,059   120,872 
Total operating expenses  4,071,504   3,879,648 
         
Loss from operations  (2,555,029)  (3,515,254)
         
Other income (expense):        
RRF loan forgiveness  -   700,454 
Gain on disposal of fixed asset  -   8,920 
Other income  378,621   32,316 
Interest  (455,224)  (218,153)
Total other income  (76,603)  523,537 
         
Loss before income taxes  (2,631,632)  (2,991,717)
         
Income tax provision  34,237   48,647 
         
Net loss $(2,665,869) $(3,040,364)
         
Loss per share:        
Basic and diluted $(1.98) $(2.29)
         
Weighted average number of common shares outstanding:        
Basic and diluted  1,345,756   1,329,022 


 
Yoshiharu Global Co. and Subsidiaries
Consolidated Statements of Cash Flows
 
  Years ended December 31, 
  2024  2023 
       
Cash flows from operating activities:        
Net loss $(2,665,869) $(3,040,364)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation  822,318   545,549 
Amortization  39,828     
Gain on disposal of fixed asset  -   (8,920)
RRF loan forgiveness  -   (700,454)
Changes in assets and liabilities:        
Accounts Receivable  (84,110)  - 
Inventories  (53,614)  (12,124)
Other assets  896,567   (1,252,669)
Accounts payable and accrued expenses  198,979   (33,915)
Due to related party  708,534   (148,544)
Other payables  1,012,591   59,785 
Net cash provided by (used in) operating activities  875,224   (4,591,656)
         
Cash flows from investing activities:        
Purchases of property and equipment  (761,527)  (1,471,151)
Acquisition of LV entities  (1,800,000)    
Net cash used in investing activities  (2,561,527)  (1,471,151)
         
Cash flows from financing activities:        
Advance from line of credit  -   700,000 
Proceeds from borrowings for acquisition of LV entities  900,000   - 
Proceeds from borrowings  1,230,980   812,000 
Repayments on bank notes payables  (433,799)  (715,892)
Proceeds from loan payable to financial institutions  -   595,400 
Repayment of loan payable to financial institutions  (499,957)  (61,161
Proceeds from sale of common shares  267,789   56,000 
Net cash provided by financing activities  1,465,013   1,386,347 
         
Net decrease in cash  (221,290)  (4,676,460)
         
Cash – beginning of period  1,462,326   6,138,786 
         
Cash – end of period $1,241,036  $1,462,326 
         
Supplemental disclosures of non-cash financing activities:        
Note payable to related party – acquisition of LV entities (seller carry) $600,000  $- 
Convertible notes to related party  1,200,000   - 
         
Supplemental disclosures of cash flow information        
Cash paid during the years for:        
Interest $443,487  $218,153 
Income taxes $34,237  $48,647 

FAQ

What was Yoshiharu's (YOSH) revenue growth in Q4 2024?

Yoshiharu's Q4 2024 revenue grew 47.4% to $3.7 million compared to $2.5 million in the prior year period.

How many restaurant locations does Yoshiharu (YOSH) currently operate?

Yoshiharu operates 15 restaurant locations, with 1 additional location under development in Ontario.

How did Yoshiharu (YOSH) regain NASDAQ compliance in March 2025?

Yoshiharu regained compliance through $3.56 million in financing commitments and conversion of $2.5 million debt to equity.

What are Yoshiharu's (YOSH) expansion plans for 2025?

Yoshiharu plans to open 2-3 new locations in Southern California and expand to Boston, Seattle, Montana, as well as international locations in Paris, London, and South Korea.

What was Yoshiharu's (YOSH) full-year 2024 financial performance?

Full-year 2024 revenue increased 39.3% to $12.8 million, with a net loss of $2.7 million, improved from $3.0 million loss in 2023.
Yoshiharu Global Co.

NASDAQ:YOSH

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