What were the key takeaways from The One's earnings call?

What is The One's latest dividend and current dividend yield?

What is the revenue and EPS growth rate for The One year over year?

What factors drove the changes in The One's revenue and profit?

What were the key takeaways from The One’s earnings call?

What does The One do and what are its main business segments?

What is the market's earnings forecast for The One next quarter?

Did The One beat or miss consensus estimates last quarter?

- **Revenue Resilience**: 2025 GAAP revenue up 20% to $805M, despite Q4 decline due to portfolio shifts. Year-to-date comps slightly positive, driven by Benihana and STK.
- **Operational Excellence**: COGS improved to 19.6%, table turns optimized, and 1-3% 2026 same-store sales growth targeted.
- **Strategic Growth**: 6-10 new units, $1M-$1.5M conversions, and Benihana Express expansion. 2026 adjusted EBITDA guidance: $100-110M.
- **Risk Management**: Beef pricing locked through Q3 2026, but gas price volatility could impact traffic.
- **Momentum Indicators**: Q1 comps slightly positive, Benihana table turns improving, and 53-week calendar benefits.

**【CEO Summary Section】**
- **Revenue Growth and Portfolio Optimization**: Total GAAP revenue for 2025 was $805 million (20% YoY growth), driven by Benihana's inclusion. Q4 revenue was $207 million (-6.7% YoY), with 35% decline due to portfolio closures and 1 fewer operating day. Q4 consolidated comparable sales declined 1.8% but showed 4-point sequential improvement, with year-to-date comps slightly positive.
- **Brand Performance**: Benihana and STK achieved positive year-to-date sales. Kona Grill saw mid-single-digit comp declines but positive transactions. Focus on table efficiency, barbell pricing (value/premium), and off-premises growth (e.g., curbside) drove momentum.
- **Strategic Priorities**: 
  1. **Execution**: 1-3% 2026 same-store sales growth, operational excellence (social scores, table turns), and Benihana's chef experience.
  2. **Growth**: 6-10 new venues, $1M-$1.5M conversions (e.g., RA Sushi to STK), and asset-light expansion (Benihana Express, stadium concessions).
  3. **Portfolio Optimization**: Exiting 6 underperforming units in 2025, targeting 5 more conversions by end-2026.
  4. **Balance Sheet**: Capital discipline ($38-42M capex), 53-week fiscal calendar, and $27.2M revolver availability.

**【CFO Financial Commentary】**
- **Q4 2025 Results**: 
  - Total revenue: $207M (-6.7% YoY). Company-owned net revenue: $203M (-6.8% YoY). COGS: 19.6% (vs. 20.4%), driven by beef pricing contracts. Operating expenses: 61.5% (flat YoY). Restaurant operating profit: $38.9M (19.5% margin).
  - Impairment charges: $7.2M (Kona Grill). Net loss: $6.4M (-$0.49 EPS). Adjusted EBITDA: $28.1M (-9.5% YoY).
- **2026 Guidance**: 
  - Revenue: $840-855M (1-3% same-store sales). Management fees: $14-15M. Operating expenses: 82-83% of net revenue. Adjusted EBITDA: $100-110M. Capex: $38-42M. New openings: 6-10 units.

**【Q&A Highlights】**
- **Benihana Strategy**: Focus on marketing, digital, and table turns (targeting 90-minute dining). Q4 table turns were 100-105 minutes, limiting sales upside.
- **Sales Momentum**: Q1 comps slightly positive, driven by value offerings and operational improvements. 2026 guidance assumes 1-3% same-store growth.
- **Cost Synergies**: Beef pricing contracts through Q3 2026, frozen seafood cost improvements. COGS at sub-20% in Q4.
- **Gas Price Impact**: Early-stage impact; guidance assumes current trends. Long-term impact depends on price duration.
- **Unit Development**: 5 conversions planned for mid-2026, targeting 4x ROI. Benihana Express and stadium concessions drive asset-light growth.
- **Loyalty and Off-Premises**: Friends with Benefits loyalty program and curbside expansion (20% sales mix target).

The ONE Group Hospitality, Inc. (STKS) Q4 2025 Earnings Call Transcript

- **Loyalty Program Surge**: 6.5M members (+200k Q3), driving repeat visits and digital engagement. 
- **Remodel Success**: Benihana San Mateo remodel achieved brand record sales, with system-wide table expansion. 
- **Franchise Expansion**: Benihana Express franchise pipeline growing, targeting 60%+ franchise representation. 
- **Portfolio Restructuring**: 9 underperforming locations to be converted to STK/Benihana, generating $10M EBITDA. 
- **Financial Resilience**: Despite $7.9M operating loss, $10.6M adjusted EBITDA maintained. $45M liquidity supports growth. 
- **Operational Focus**: 30% table turn reduction targets 90min dining times for holiday capacity boost.

**【CEO Summary Section】**
- **Menu Diversification & Premiumization**: Kona Grill expanded menu to reduce reliance on seafood, introducing Wagyu and premium seafood. Benihana San Mateo remodel added 2-3 Teppanyaki tables, boosting capacity and targeting $8M annual sales with 20% margins. 
- **Loyalty Program Growth**: Friends with Benefits program has 6.5M members (+200k Q3), driving repeat visits. Digital upgrades to brand websites increased traffic and conversions. 
- **Franchise Expansion**: Benihana Express franchise openings (Miami, Scottsdale) and 60%+ franchise representation target. Non-traditional venues (stadiums, airports) under discussion. 
- **Portfolio Optimization**: Closed 7 underperforming World Concepts locations. 9 conversions to STK/Benihana expected by 2026, generating $10M EBITDA. 
- **Operational Efficiency**: Targeting 30% reduction in Benihana table turns (120min → 90min) to increase holiday capacity. 

**【CFO Financial Commentary】**
- **Q3 Financials**: GAAP revenue $180.2M (-7.1% YoY). Operating loss $7.9M (including $3.4M impairment). Adjusted EBITDA $10.6M (-28.9% YoY). 
- **FY25 Outlook**: Revenue $820-825M (-3% to -2% same-store sales). CapEx $45-50M. 5-7 new venues opening. 
- **Liquidity**: $45M cash, $28.7M revolver availability. Share buyback program authorized. 

**【Q&A Highlights】**
- **Traffic & Pricing**: Sequential traffic improvement (+6.9% Q3 vs. -7.5% Q2). Pricing pause in Q3 (-5.9% sales deleverage) followed by 4% price increase in November. 
- **Franchise Momentum**: Benihana Express pipeline expanding (California, Bay Area). STK conversions yielding $1M+ EBITDA. 
- **Vegas Performance**: STK Las Vegas improving, but broader market challenges persist. 
- **Loyalty Program**: 6.5M members, 200k new sign-ups Q3. Frequency increases for long-term members. 
- **Conversion Economics**: $1M capital per conversion, $1M+ EBITDA per STK. Benihana remodels within 1.5-2.5% of sales CapEx budget.

The ONE Group Hospitality, Inc. (STKS) Q3 2025 Earnings Call Transcript

- **20% Revenue Growth**: Driven by Benihana acquisition and 7 new restaurants
- **Benihana Breakthrough**: San Mateo location generates $8M+ annual revenue
- **Franchise Expansion**: 2 Benihana Express openings, 3+ in pipeline
- **Balance Sheet Strength**: $50M liquidity, $11M+ STK margins
- **Key Risk**: 4.1% decline in comparable sales amid macro challenges

**【CEO Opening Remarks】**
- Q2 revenue grew 20% YoY to $207.4M, driven by Benihana acquisition and 7 new restaurant openings. 
- Adjusted EBITDA rose 7.3% to $23.4M, despite 4.1% decline in comparable sales.
- Benihana integration ahead of schedule, with $20M+ synergies expected by end-2026.
- Opened 3 new restaurants (Benihana San Mateo, STK Topanga, STK Westwood relocation) and 2nd Benihana Express franchise.

**【CEO Strategic Priorities】**
1. **Same-Store Sales Growth**: 
   - $69 pre-fee menu at STK, $3/$6/$9 Happy Hour
   - Benihana's Wagyu program and new menu innovations
   - Friends with Benefits loyalty program (7M+ members)
2. **Asset-Light Growth**: 
   - Franchise/licensed/managed locations to represent >60% of portfolio
   - 5-7 new venues planned for 2025 (Benihana Seattle, STK relocations)
3. **Grill Portfolio Optimization**: 
   - Closed 5 underperforming locations
   - Focused on top-tier real estate and disciplined growth
4. **Balance Sheet Strength**: 
   - $50M liquidity (cash + revolver)
   - $11M+ STK EBITDA margins, $8M+ Benihana prototype revenue

**【CFO Financial Commentary】**
- GAAP net loss of $10.1M (vs. $7.3M prior year) due to $5.6M lease termination costs
- Adjusted EBITDA up 7.3% to $23.4M
- Q3 2025 guidance: 
   - Revenues $190-195M
   - Adj. EBITDA $15-18M
   - Preopening expenses $1-2M
- Full year 2025: 
   - Revenues $835-870M
   - Adj. EBITDA $95-115M
   - CapEx $45-50M

**【Q&A Highlights】**
- **Benihana Success**: 
   - San Mateo location exceeds revenue targets ($8M+ annualized)
   - HVAC issues resolved, improving summer performance
   - New prototype eliminates sushi bar, adds 20% more tables
- **STK Strategy**: 
   - Emphasizing value ($69 pre-fee) while maintaining premium positioning
   - Shared dishes driving weekday traffic
- **Franchise Momentum**: 
   - 2 Benihana Express openings, 3+ in pipeline
   - Existing franchisees expanding into full-size Benihana
- **Seattle Expansion**: 
   - Flagship Benihana on Lake Union targeting end-2025 opening
   - 7,000 sq.ft. footprint with stunning waterfront views

The ONE Group Hospitality, Inc. (STKS) Q2 2025 Earnings Call Transcript

- **Revenue Explosion**: Q1 2025 revenue up 148% to $211M, driven by Benihana/RA Sushi and new openings.
- **Profit Leap**: Adjusted EBITDA jumps 233% to $25.2M, with Benihana margins at 20.1%.
- **Growth Engine**: 5-7 new units in 2025, including STK Topanga and Benihana San Mateo.
- **Cost Efficiency**: G&A as % of revenue improves 190bps to 5.4%.
- **Franchise Momentum**: 50%+ Benihana franchise target, 1 Miami location in development.
- **Q2 Caution**: -5.5% to -4% comp sales, but Q4 Benihana holiday strength expected.


**【CEO Opening Remarks】**
- **Revenue Growth**: Q1 2025 revenue surged 148.4% to $211.1M, driven by Benihana and RA Sushi contributions and 6 new openings.
- **Adjusted EBITDA**: Soared 233% to $25.2M, reflecting strong cost management and scale benefits.
- **Comparable Sales**: -3.2% due to macroeconomic challenges, but STK transaction growth at 4.1%.
- **Strategic Priorities**: 
  1. **Sales Growth**: Dual-tier pricing (e.g., $39 midweek meals) and loyalty program expansion.
  2. **Integration**: $20M+ annual synergies from Benihana/STK consolidation.
  3. **Expansion**: 5-7 new units in 2025, including STK Topanga and Benihana San Mateo.
  4. **Balance Sheet**: $68M liquidity, focused on cash flow and shareholder returns.

**【CFO Financial Breakdown】**
- **GAAP Income**: Net loss of $6.6M (-$0.21/share) vs. $2.1M loss in Q1 2024, due to acquisition-related costs.
- **Adjusted Metrics**: 
  - Adjusted EBITDA: $25.2M (vs. $7.6M prior year)
  - Restaurant EBITDA Margin: 16.4% (up 50bps YoY)
  - Benihana Margin: 20.1%, STK: 17.7%
- **Cost Control**: G&A expenses as % of revenue improved 190bps to 5.4%.
- **Liquidity**: $34.1M cash + $33.6M undrawn credit facility.

**【Q&A Highlights】**
1. **Consumer Trends**: Higher-end STK performed better, with 4.1% transaction growth. Casual brands focused on grassroots marketing and loyalty programs.
2. **Franchising Progress**: 50%+ Benihana mix target, with 1 Benihana Express franchise opening in Miami.
3. **Pricing Strategy**: Conservative approach, prioritizing traffic over check growth.
4. **Q2 Outlook**: -5.5% to -4% comparable sales due to macro uncertainty, but Benihana holiday strength expected in Q4.
5. **Labor Costs**: Stable retention, moderate wage inflation.


The ONE Group Hospitality, Inc. (STKS) Q1 2025 Earnings Conference Call Transcript

- **Regulatory Compliance Highlighted**: CFO emphasized risks of forward-looking statements and non-GAAP metrics.
- **No Immediate Financial Updates**: Detailed Q4 2024 results were not disclosed in the excerpt.
- **Transparency Reminder**: Investors were directed to SEC filings for full financial context.

**【CFO Opening Remarks】**
- **Forward-Looking Statements Disclosure**: Tyler Loy emphasized that all forward-looking statements are subject to risks and uncertainties, with no obligation to update them.
- **Non-GAAP Financial Measures**: The company will discuss non-GAAP metrics, which should not replace GAAP results. Reconciliations are available in SEC filings.
- **Compliance Notice**: Listeners were reminded of the risks associated with relying on non-GAAP measures and forward-looking statements.

**【Key Takeaways】**
- The call will focus on Q4 2024 performance and 2025 outlook, but detailed financials were not disclosed in the provided excerpt.
- Investors should refer to the company's SEC filings for a full risk assessment and GAAP/non-GAAP reconciliations.

Actual											-0.1482	-0.1	-0.03	-0.15	0.05	0.19	0.11	0.24	0.15	0.15	0.07	0.19	0.1	0.06	-0.08	0.17	-0.02	0.08	-0.3	-0.03	0.14	0.05	-0.5056	-0.49
Forecast											0.0067	-0.2033	-0.0933	0.0267	0.015	0.11	0.195	0.2133	0.1267	0.165	0.13	0.1725	0.1	0.135	0.04	0.15	0.03	0.0667	0.0067	0.0267	-0.14	0.086	-0.14	0.182
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-2311.94%	+50.81%	+67.85%	-661.80%	+233.33%	+72.73%	-43.59%	+12.52%	+18.39%	-9.09%	-46.15%	+10.14%	0.00%	-55.56%	-300.00%	+13.33%	-166.67%	+19.94%	-4577.61%	-212.36%	+200.00%	-41.86%	-261.14%	-369.23%

Actual	--	--	--	--	--	--	--	--	--	--	40.72M	16.66M	39.57M	44.99M	50.48M	70.76M	71.87M	84.07M	74.18M	76.93M	69.54M	88.31M	82.56M	79.92M	76.88M	85.17M	81.51M	172.49M	193.97M	217.80M	211.13M	203.91M	180.20M	203.03M
Forecast	--	--	--	--	--	--	--	--	--	--	30.76M	9.80M	30.78M	45.00M	47.30M	61.21M	69.28M	83.90M	68.73M	76.72M	77.13M	89.73M	83.31M	91.63M	83.28M	98.04M	87.59M	178.34M	215.60M	217.71M	203.41M	208.94M	191.14M	210.28M
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+32.36%	+70.10%	+28.54%	-0.02%	+6.73%	+15.60%	+3.74%	+0.20%	+7.93%	+0.27%	-9.85%	-1.58%	-0.90%	-12.78%	-7.68%	-13.13%	-6.94%	-3.28%	-10.03%	+0.04%	+3.79%	-2.41%	-5.72%	-3.44%

STKS

STKS fundamentals

STKS Q4 2025 Earnings

Earnings Call

You can ask Aime

STKS

STKS fundamentals

STKS Q4 2025 Earnings

Earnings Call

STKS Earnings Call Summary for Q4/20258:30 AM on Mar 13, 2026

STKS Earnings Call Summary for Q3/20254:30 PM on Nov 6, 2025

STKS Earnings Call Summary for Q2/20254:30 PM on Aug 5, 2025

STKS Earnings Call Summary for Q1/20254:30 PM on May 7, 2025

STKS Earnings Call Summary for Q4/20244:30 PM on Mar 10, 2025

You can ask Aime