STKS

EX-99.1

2 stks-ex99d1.htm

EX-99.1

Exhibit 99.1

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The ONE Group Reports Third Quarter 2026 Financial Results

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Transactions Positive for Second Consecutive Quarter and Improved Sequentially for Three Consecutive Quarters

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Year-to-Date Cash Flow from Operations Increased 143% to $41.8 million

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Restaurant Operating Profit** for The Quarter expanded 190 basis points

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Company Continues to Prioritize Capital-Efficient Growth

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Denver, CO – (BUSINESS WIRE) – November 4, 2026 – The ONE Group Hospitality, Inc. (“The ONE Group” or the “Company”) (Nasdaq: STKS) today reported its financial results for the third quarter ended September 27, 2026.

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Highlights for the third quarter 2026 compared to the same quarter in 2025 are as follows:

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●Total GAAP revenues of $177.0 million from $180.2 million, a decrease of 1.8%, with $4.5 million, or 2.5%, the result of the permanent and temporary closure of restaurants as part of the Grill Concepts portfolio optimization strategy, partially offset by revenue from new restaurants opened since the third quarter of 2025

●Consolidated comparable sales* and comparable transactions slightly decreased 0.4% and increased 1.8%, respectively

●Benihana brand comparable sales* and comparable transactions increased 0.7% and increased 2.7%, respectively

●Net cash provided by operating activities in the quarter increased 50% to $8.8 million from $5.9 million; year-to-date net cash provided by operating activities increased $24.6 million to $41.8 million from $17.2 million

●Restaurant operating profit** increased by 190 basis points to 13.2% of owned restaurant net revenue from 11.3%

●GAAP Operating Income year-to-date increased $11.1 million to $14.6 million from $3.5 million

●Adjusted EBITDA*** attributable to The ONE Group Hospitality, Inc. increased 5% to $11.1 million from $10.6 million, and year-to-date increased 3% to $60.8 million from $59.1 million

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“Our third quarter results demonstrate the meaningful progress we are making in strengthening the financial performance of The ONE Group. We delivered positive transaction growth, while significantly improving operating income and expanding restaurant-level margins. These results reflect the effectiveness of our operational initiatives, the strength of our differentiated restaurant brands and the disciplined execution of our strategic priorities,” said Emanuel “Manny” Hilario, President and Chief Executive Officer of The ONE Group. “Importantly, we are translating these operational improvements into stronger cash flow. Through enhanced restaurant-level profitability, disciplined capital allocation and continued portfolio optimization, we are building a more efficient and financially resilient organization.

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“The distinctiveness of our Vibe Dining brands, supported by our value messaging, is resonating with guests. Transactions have been positive for two consecutive quarters and have improved sequentially for three, demonstrating that guests continue to seek out differentiated dining experiences despite a cautious consumer environment,” Hilario continued, “Benihana, our largest brand, led the way in the quarter as we continue to execute our initiatives. Our strategy with the Grill Concepts has shown success in stabilizing transactions as comparable transactions were positive 1.7% for the quarter and positive 1.4% for year-to-date. The next step is to convert those traffic gains into sales.”

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“Our beef strategy, supply chain initiatives and menu optimization drove a 190-basis point improvement in restaurant operating profit margin, enabling us to navigate a higher inflationary environment,” Hilario commented. “This operating discipline is also reflected in our cash generation, with cash flow from operations through the first three quarters more than doubled to $41.8 million after paying $29.4 million in interest.”

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Hilario also provided an update on the Company’s capital efficient growth by remarking that, “our growth is now centered on franchise and license development and low cost conversions of select Grill Portfolio venues. We are particularly delighted with our progress with the performance of our Benihana Express prototype which now paces at an annual volume of $1.8 million. The combination of its small footprint, high revenues per square foot, and strong unit economics makes it a highly attractive vehicle for licensing. With this brand, we are able to bring the highly craveable Benihana food anywhere to consumers seeking a premium fast casual opportunity on the go,” Hilario concluded. “Entering our seasonally strongest quarter, we believe our improving transaction trends and strong portfolio position us well, and that disciplined capital allocation, together with operational execution, is the foundation for long-term shareholder value and accelerating the development of a significant pipeline of high-quality licensees for Benihana Express locations.”

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Grill Concepts Portfolio Optimiz

EX-99.1

2 stks-20260805xex99d1.htm

EX-99.1

Exhibit 99.1

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The ONE Group Reports Second Quarter 2026 Financial Results

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Positive Comparable Sales, Positive Transactions Across All Business Segments

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Capital Expenditures, Net of Tenant Improvement Allowances, Reduced 38% Year-Over-Year as Company Prioritizes Capital-Efficient Growth and Free Cash Flow Generation

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Denver, CO – (BUSINESS WIRE) – August 5, 2026 – The ONE Group Hospitality, Inc. (“The ONE Group” or the “Company”) (Nasdaq: STKS) today reported its financial results for the second quarter ended June 28, 2026.

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Highlights for the second quarter 2026 compared to the same quarter in 2025 are as follows:

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●Total GAAP revenues decreased 3.3% to $200.5 million from $207.4 million, due to the impact of permanent and temporary restaurant closures

●Consolidated comparable sales* increased 0.9%

●GAAP operating income increased to $6.6 million from $0.7 million

●Restaurant operating profit** increased by 110 basis points to 16.4% of owned restaurant net revenue from 15.3%

●Year-to-date net cash provided by operating activities improved $21.7 million to $33.0 million from $11.3 million

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“Our second quarter results underscore the momentum we are building across the portfolio, driven by the continued strength of our Vibe Dining brands. Consolidated comparable sales were positive, with positive transaction growth across all segments. STK posted a strong comparable sales performance of 3.2%. We completed the relocation of our STK Downtown New York restaurant from Little West 12th to 15th Street, with the restaurant having been closed for most of the second quarter due to the transition,” said Emanuel “Manny” Hilario, President and CEO of The ONE Group.

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“Quarterly margin performance was strong, with the consolidated margin expanding 110 basis points to 16.4%. These results reflect the continued execution of our operational and strategic initiatives across the portfolio,” Hilario continued.

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“We remain focused on capital-efficient growth and portfolio optimization. During the quarter, we signed a new development agreement for two licensed STK locations at a major U.S. airport. We are also very excited about the expansion of the Benihana Express brand, a small footprint, fast casual version of the Benihana that you crave. Both of these are great examples of our asset-light strategy in action, which continues to gain traction with additional openings planned for the second half of the year. With this approach, we will be able to reduce capital expenditures while sustaining our development pipeline, further strengthening our balance sheet. Going forward, we remain committed to disciplined capital allocation and operational excellence as the foundation for building long-term shareholder value,” Hilario concluded.

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Grill Concepts Portfolio Optimization

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●Temporarily closed three Kona Grill restaurants and two RA restaurants in January 2026 for conversion to Benihana or STK formats

●The conversion of the Riverton Kona Grill to Benihana was completed on July 31, 2026 and is now re-opened to the public

●The Kona Grill Baltimore conversion is expected to re-open as an STK in the third quarter

●Conversion economics: approximately $1.0 to $1.5 million, net build-out cost per conversion with a one-year payback

●Expected outcome: 100% profitable Grill portfolio with enhanced margins

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Capital Efficiency Focus

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●Significant reduction in discretionary capital expenditures to increase free cash flow to strengthen the balance sheet

●Prioritizing asset-light and conversion-driven growth with emphasis on franchising and licensing opportunities

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●Targeting new company-owned openings averaging $1.5 million, net or less in build-out costs

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Benihana Express Expansion

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●Your Benihana fix on the go: a fast casual version of Benihana

●800-1,000 square foot space with strong margins at a lower build-out cost

●One Company-owned restaurant open; one Company-owned restaurant under construction; one franchised restaurant in development

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2026 Completed Restaurant Development

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Restaurant

Location

Date

Owned Kona Grill (relocation)

San Antonio, Texas

January 2026

Converted franchised Benihana to owned

Monterey, California

February 2026

Converted franchised Benihana Express to owned

Miami, Florida

March 2026

Owned STK (new)

Phoenix, Arizona

June 2026

Owned STK (relocation)

New York, New York

July 2026

Owned Benihana (conversion of a Kona Grill)

Riverton, Utah

July 2026

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2026 Remaining Restaurant Pipeline

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Currently Under Construction (3 locations):

●Owned STK restaurant in Baltimore, Maryland (conversion of a temporarily closed Kona Grill restaurant)

●Owned Kona Grill Bistro in Baltimore, Maryland

●Owned Benihana Express restaurant in Denver, Colorado

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Asset-Light Expansion Highlights:

●Franchised Benihana in the Florida Keys

●Licensed Benihana Express in the Florida Keys

●Two-venue agreement

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