GEN Restaurant Group Inc
For the period ended Sep 30, 2024. Filed Nov 12, 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.
Sep 30, 2024 · Filed Nov 12, 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 Balance Sheets
| (in thousands, except share and per share information) | September 30,2024 | December 31, 2023 |
|---|---|---|
| (unaudited) | ||
| Current assets: | ||
| Cash and cash equivalents | $22,053 | $32,631 |
| Inventories | 1,453 | 461 |
| Accounts receivable | 1,145 | — |
| Prepaid expenses and other current assets | 4,830 | 3,726 |
| Total current assets | 29,481 | 36,818 |
| Equity method investment | — | 523 |
| Property and equipment, net | 48,170 | 33,907 |
| Goodwill | 9,498 | — |
| Operating lease assets | 124,538 | 99,255 |
| Deferred tax asset | 12,960 | 12,618 |
| Other assets | 1,059 | 749 |
| Total assets | $225,706 | $183,870 |
| Liabilities and equity | ||
| Current liabilities | ||
| Accounts payable | 13,558 | 10,704 |
| Accrued salaries and benefits | 1,629 | 2,660 |
| Accrued interest | 78 | 42 |
| Notes payable, current | 1,677 | 165 |
| Notes payable to related parties | 310 | 1,197 |
| Obligations under finance leases, current | 34 | 125 |
| Operating lease liabilities, current | 4,869 | 4,535 |
| Deferred Restaurant Revitalization Fund grant | 3,806 | 3,806 |
| Advances from members | — | 2,704 |
| Gift card liabilities | 1,304 | — |
| Other current liabilities | 4,960 | 5,366 |
| Total current liabilities | 32,225 | 31,304 |
| Notes payable, net of current portion | 5,567 | 4,547 |
| Tax receivable agreement liability | 691 | — |
| Operating lease liabilities, net of current portion | 139,256 | 110,501 |
| Total liabilities | 177,739 | 146,352 |
| Commitments and contingencies (Note 11) | ||
| Mezzanine equity | ||
| EB-5 Members’ equity | 1,500 | 1,500 |
| Permanent equity | ||
| Class A common stock, $0.001 par value, 70,000,000 shares authorized, 4,913,064 shares issued and outstanding as of September 30, 2024 and 4,140,000 shares issued and outstanding as of December 31, 2023, respectively | 5 | 4 |
| Class B common stock, $0.001 par value, 50,000,000 shares authorized; 27,886,912 shares issued and outstanding as of September 30, 2024 and 28,141,566 shares issued and outstanding as of December 31, 2023, respectively | 28 | 28 |
| Additional paid-in capital | 11,888 | 7,112 |
| Retained Earnings | 1,120 | 322 |
| Non-controlling interest | 33,427 | 28,552 |
| Total permanent equity | 46,468 | 36,018 |
| Total liabilities and stockholders’ equity | $225,707 | $183,870 |
GEN RESTAURANT GROUP, INC
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