ONE Group Q3 revenue $180.2M, net loss $76.7M; plans Grill closures/conversions

ONE Group Hospitality, Inc.

2025-Q3 EPS reported -$3.55 revenue$598,708,000

Total GAAP revenues $180.2M, down 7.1% YoY; consolidated comparable sales -5.9%.
GAAP net loss $76.7M vs $9.3M loss YoY, driven by $64M non-cash tax valuation allowance and $3.4M impairment.
Adjusted EBITDA $10.6M vs $14.9M YoY; six underperforming Grill units closed, up to nine conversions planned.
FY 2025 guidance: revenues $820-825M, consolidated adjusted EBITDA $95-100M, comparable sales -3% to -2%.
Early Q4 sales improved; holiday bookings robust; $16.3M cash, $28.1M credit facility available.

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