The ONE Group shares jump 21.08% after hours on preliminary $805M revenue guidance and Benihana acquisition-driven growth.

The ONE Group (NASDAQ: STKS) surged 21.08% in after-hours trading following the release of preliminary 2025 full-year revenue results and strategic updates. The company reported total GAAP revenues of $805 million, a 20% increase from 2024, driven by the acquisition of Benihana in May 2024. Despite a 3.7% decline in comparable sales and a 6.8% drop in Q4 revenue, management highlighted sequential sales improvements at STK and Benihana, asset-light expansion plans (including a major San Francisco Bay development agreement), and a shift toward capital-efficient growth through restaurant conversions. CEO Emanuel Hilario emphasized momentum in operations, reservation technology, and brand strength, while outlining plans to prioritize cash conservation and EBITDA-accretive conversions. The news reinforced investor confidence in the company’s long-term strategy and growth potential, outweighing short-term headwinds.