---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-007042"
form_type: "8-K"
ticker: "STKS"
cik: "0001399520"
company_name: "ONE Group Hospitality, Inc."
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T17:20:00.399652+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# The ONE Group reports Q1 net loss of $2.1M; completes $365M Benihana acquisition

## Summary
- Q1 revenue $85.0M (+3% YoY); comparable sales down 7.9%; GAAP net loss $2.1M vs prior year net income $2.5M.
- Completed acquisition of Benihana owner Safflower Holdings for $365M cash, financed with $390M term loan and $160M preferred equity.
- Benihana expected to add >$500M annual revenue and ~$70M run-rate EBITDA before $20M synergies.
- Updated 2024 guidance includes Benihana: total GAAP revenue $700M-$740M, adjusted EBITDA $95M-$100M.
- Board authorized $5M share repurchase program; no shares bought in Q1 2024.

## SEC filing metadata
- accession: 0001558370-24-007042
- form_type: 8-K
- ticker: STKS
- cik: 0001399520
- company_name: ONE Group Hospitality, Inc.
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1399520/000155837024007042/0001558370-24-007042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1399520/000155837024007042/stks-20240507x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-007042
- JSON: https://secwatch.observer/filing/0001558370-24-007042.json
- Plain text: https://secwatch.observer/filing/0001558370-24-007042.txt

## Key facts
- Earnings Releases
  ONE Group Hospitality, Inc. reported first quarter ended March 31, 2024 results: revenue $85.0 million, net income $2.1 million, EPS $0.07 net loss per share.
  - Period: first quarter ended March 31, 2024
  - Revenue: $85.0 million
  - Net income: $2.1 million
  - EPS: $0.07 net loss per share
  - Result: reported results
  source text: ● Total GAAP revenues increased 3.0% to $85.0 million from $82.6 million; ● Comparable sales* decreased 7.9%; ● GAAP net loss attributable to The ONE Group was $2.1 million, or $0.07 net loss per share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1399520/000155837024007042/0001558370-24-007042-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.