ONE Group Hospitality Inc
For the period ended Dec 31, 2023. Filed Mar 14, 2024.
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FY2023 · Filed Mar 14, 2024
STKS$0.98-3.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · For the year ended December 31, | ||||||
| · 2023 · 2022 | ||||||
| Operating activities: · · | ||||||
| Net income | | $4,026 | | $13,319 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | ||||
| Depreciation and amortization | | 15,664 | | 12,134 | ||
| Stock-based compensation | | 5,032 | | 3,985 | ||
| Amortization of debt issuance costs | | 745 | | 373 | ||
| Deferred taxes | | (2,434) | | (10) | ||
| Changes in operating assets and liabilities: | | | ||||
| Accounts receivable | | (2,056) | | (3,858) | ||
| Inventory | | (456) | | (1,813) | ||
| Other current assets | | 340 | | 1,574 | ||
| Security deposits | | (30) | | 5 | ||
| Other assets | | (552) | | (1,169) | ||
| Accounts payable | | 2,911 | | 886 | ||
| Accrued expenses | | 1,608 | | (4,001) | ||
| Operating lease liabilities and right-of-use assets | | | 5,880 | | | 2,805 |
| Other liabilities | | 103 | | 1,021 | ||
| Net cash provided by operating activities | | 30,781 | | 25,251 | ||
| Investing activities: | | | ||||
| Purchase of property and equipment | | (53,550) | | (32,629) | ||
| Net cash used in investing activities | | (53,550) | | (32,629) | ||
| | | | ||||
| Financing activities: | | | ||||
| Borrowings of long-term debt | | | — | | | 55,000 |
| Repayments of long-term debt and financing lease liabilities | | | (1,021) | | | (5,551) |
| Debt issuance costs | | — | | (1,332) | ||
| Exercise of stock options and warrants | | 310 | | 138 | ||
| Tax-withholding obligation on stock-based compensation | | | (2,655) | | | (2,021) |
| Purchase of treasury stock | | | (7,882) | | | (7,132) |
| Net cash (used in) provided by financing activities | | (11,248) | | 39,102 | ||
| Effect of exchange rate changes on cash | | (57) | | (217) | ||
| Net (decrease) increase in cash and cash equivalents | | (34,074) | | 31,507 | ||
| Cash and cash equivalents, beginning of year | | 55,121 | | 23,614 | ||
| Cash and cash equivalents, end of year | | $21,047 | | $55,121 | ||
| Supplemental disclosure of cash flow data: | | | | |||
| Interest paid, net of capitalized interest | | $5,313 | | $1,556 | ||
| Income taxes paid, net of refunds | | $720 | | $789 | ||
| Accrued purchases of property and equipment | | $12,575 | | $5,125 | ||
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