GEN Restaurant Group Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
View on SEC.govAbout this filing
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.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Changes in Permanent Equity (Deficit)
(unaudited)
Nine months ended September 30, 2024 and September 30, 2023
| RedeemableClass BCommon · Members' equity · Class ACommon Stock · Class BCommon Stock · Additionalpaid-in · Retained · Non-Controlling · Stockholders'Equity/Members'equity | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (in thousands) · Units · (deficit) · Shares · Amount · Shares · Amount · capital · Earnings · Interest · (deficit) | ||||||||||||||||||||||||||
| Balance, December 31, 2022 | - | $(10,011) | $ | - | $ | - | $ | - | $3,250 | $(6,761) | ||||||||||||||||
| Redemption of Class A and B common units | - | |||||||||||||||||||||||||
| Net income | 4,134 | 397 | 4,531 | |||||||||||||||||||||||
| Member distributions | (3,059) | (3,059) | ||||||||||||||||||||||||
| Balance, March 31, 2023 | - | $(8,936) | - | $ | - | - | $ | - | $ | - | $ | - | $3,647 | $(5,289) | ||||||||||||
| Activity prior to the initial public offering and related organizational transactions: | ||||||||||||||||||||||||||
| Net income prior to the organizational transactions | 3,950 | 430 | 4,380 | |||||||||||||||||||||||
| Conversion of related party loans to equity | 871 | 871 | ||||||||||||||||||||||||
| Member distributions | (23,410) | (23,410) | ||||||||||||||||||||||||
| Effects of initial public offering and related organization transactions: | - | |||||||||||||||||||||||||
| Effects of the organizational transactions | (23,447) | 27,525 | (4,077) | 23,448 | ||||||||||||||||||||||
| Issuance of Class A common stock in the IPO, net of underwriting discount | 3,600,000 | 3 | 40,138 | 40,141 | ||||||||||||||||||||||
| Issuance of Class A common stock to underwriters upon exercise of overallotment option | 540,000 | 1 | 6,025 | 6,026 | ||||||||||||||||||||||
| Issuance of Class B common stock in the IPO, net of underwriting discount | 28,141,566 | 28 | (28) | - | ||||||||||||||||||||||
| Conversion of Class B common units into Class B Shares | 23,447 | (23,447) | (23,447) | |||||||||||||||||||||||
| Capitalization of initial public offering costs | (3,265) | (3,265) | ||||||||||||||||||||||||
| Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increase in tax basis | 10,530 | 10,530 | ||||||||||||||||||||||||
| Activity subsequent to the initial public offering and related organizational transactions: | ||||||||||||||||||||||||||
| Net income | 11 | 74 | 85 | |||||||||||||||||||||||
| NCI Adjustment | (26,351) | 26,351 | - | |||||||||||||||||||||||
| Balance, June 30, 2023 | - | $ | - | 4,140,000 | $4 | 28,141,566 | $28 | $3,602 | $11 | $26,425 | $30,070 | |||||||||||||||
| Net income | 337 | 2,297 | 2,634 | |||||||||||||||||||||||
| Stock-based compensation | 759 | 759 | ||||||||||||||||||||||||
| Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increase in tax basis | 1,548 | 1,548 | ||||||||||||||||||||||||
| Balance, September 30, 2023 | - | $ | - | 4,140,000.0 | $4 | 28,141,566 | $28 | $5,909 | $348 | $28,722 | $35,011 | |||||||||||||||
| Class ACommon Stock · Class BCommon Stock · Additionalpaid-in · Retained · Non-Controlling · Stockholders'Equity/Members'equity | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (in thousands) · Shares · Amount · Shares · Amount · capital · Earnings · Interest | ||||||||||||||||
| Balance, December 31, 2023 | 4,140,000 | $4 | 28,141,566 | $28 | $7,112 | $322 | $28,552 | $36,018 | ||||||||
| Net income | 496 | 3,202 | 3,698 | |||||||||||||
| Stock-based compensation | 759 | 759 | ||||||||||||||
| Adjustment to tax liabilities and assets under TRA | (113) | (113) | ||||||||||||||
| Shares issued upon RSU vesting | 117,304 | |||||||||||||||
| Exchange of noncontrolling interest for Class A common stock | 254,654 | (254,654) | 258 | (258) | - | |||||||||||
| Balance, March 31, 2024 | 4,511,958 | $4 | 27,886,912 | $28 | $8,016 | $818 | $31,496 | $40,362 | ||||||||
| Net income | $277 | $1,787 | 2,064 | |||||||||||||
| Stock-based compensation | $759 | $759 | ||||||||||||||
| Issuance of Class A common stock | 237,593 | 1,436 | 1,436 | |||||||||||||
| Contribution by shareholder in final IPO settlement | 1,275 | 1,275 | ||||||||||||||
| Balance, June 30, 2024 | 4,749,551 | $4 | 27,886,912 | $28 | $11,486 | $1,095 | $33,283 | $45,896 | ||||||||
| Net income | $25 | $144 | $169 | |||||||||||||
| Stock-based compensation | $734 | $734 | ||||||||||||||
| Shares issued upon RSU vesting | 163,513 | $1 | $(1) | |||||||||||||
| Adjustment to tax liabilities and assets under TRA | $(331) | $(331) | ||||||||||||||
| Balance, September 30, 2024 | 4,913,064 | $5 | 27,886,912 | $28 | $11,888 | $1,120 | $33,427 | $46,468 | ||||||||
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