GEN Restaurant Group Inc
For the period ended Jun 30, 2024. Filed Jul 31, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 31, 2024
GENK$1.51+6.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Income Statements
| Three months ended June 30, | Six months ended June 30, | |||
|---|---|---|---|---|
| (in thousands, except per share amounts) | 2024 | 2023 | 2024 | 2023 |
| (unaudited) · (unaudited) | ||||
| Revenue | $53,860 | $46,473 | $104,620 | $90,335 |
| Restaurant operating expenses: | ||||
| Food cost | 17,700 | 14,786 | 34,668 | 29,091 |
| Payroll and benefits | 16,362 | 14,323 | 32,514 | 27,975 |
| Occupancy expenses | 4,389 | 3,673 | 8,682 | 7,104 |
| Operating expenses | 5,358 | 4,299 | 10,457 | 8,425 |
| Depreciation and amortization | 1,706 | 1,131 | 3,243 | 2,244 |
| Pre-opening costs | 1,645 | 881 | 3,547 | 1,400 |
| Total restaurant operating expenses | 47,160 | 39,093 | 93,111 | 76,239 |
| General and administrative | 5,058 | 1,958 | 9,731 | 4,013 |
| Consulting fees - related party | — | 1,445 | — | 2,325 |
| Management fees | — | 589 | — | 1,176 |
| Depreciation and amortization - corporate | 29 | 18 | 57 | 37 |
| Total costs and expenses | 52,247 | 43,103 | 102,899 | 83,790 |
| Income from operations | 1,613 | 3,370 | 1,721 | 6,545 |
| Employee retention credits | 200 | 1,318 | 200 | 2,483 |
| Other income (loss) | — | (7) | — | (7) |
| Gain on remeasurement of previously held interest (see Note 3) | — | — | 3,402 | — |
| Interest income (expense), net | 262 | (207) | 538 | (396) |
| Equity in income (loss) of equity method investee | — | 86 | (17) | 467 |
| Net income before income taxes | 2,075 | 4,560 | 5,844 | 9,092 |
| Provision for income taxes | (11) | (96) | (83) | (96) |
| Net income | 2,064 | 4,464 | 5,761 | 8,996 |
| Less: Net income attributable to noncontrolling interest | 1,787 | 504 | 4,990 | 901 |
| Net income attributable to GEN Restaurant Group, Inc. | 277 | 3,960 | 771 | 8,095 |
| Net income attributable to Class A common stock per share - basic and diluted (1) | $277 | — | $771 | — |
| Weighted-average shares of Class A common stock outstanding - basic (1) | 4,572 | 4,249 | 4,446 | 4,249 |
| Weighted-average shares of Class A common stock outstanding - diluted (2) | 4,572 | 4,249 | 4,446 | 4,249 |
| Net income per share of Class A common stock - basic (1) | $0.06 | — | $0.17 | — |
| Net income per share of Class A common stock - diluted (2) | $0.06 | — | $0.17 | — |
(1) (2)Basic and diluted net income per share of Class A common stock is presented only for the period after the Company’s organization transactions.
See Note 1 for a description of the organizational transactions. See Note 15 for calculation of net income per share.
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