Restaurant Operations - GEN Restaurant Group operates 43 company-owned restaurants across multiple states as of October 31, 2024[110]. - Six new restaurants were opened in 2023, with an additional eighteen new locations signed for future openings, including four in Texas and three in Florida[112]. - The company opened two new restaurants in October 2024, bringing the total to 41 restaurants by the end of the reporting period[126]. Financial Performance - Revenue for the three months ended September 30, 2024, was $49.1 million, an increase of $3.5 million or 7.8% compared to $45.6 million for the same period in 2023[144]. - Revenue for the nine months ended September 30, 2024, was $153.7 million, an increase of $17.8 million or 13.1% compared to $135.9 million for the same period in 2023, driven by an increase in the number of restaurants from 34 to 41[159]. - Net income for the three months ended September 30, 2024, was $169 thousand, a decrease of $2.5 million or 93.6% from $2.6 million in 2023[142]. - Net income for the nine months ended September 30, 2024, was $5.9 million, a decrease of 49.0% from $11.6 million in 2023[1]. - For the nine months ended September 30, 2024, net income attributable to GEN Restaurant Group, Inc. was $1,106,000, down from $9,167,000 in the same period last year[174]. Expenses - Total restaurant operating expenses increased by $4.5 million or 11.4% to $43.8 million for the three months ended September 30, 2024, compared to $39.3 million in 2023[142]. - Total restaurant operating expenses increased to $136.9 million for the nine months ended September 30, 2024, up $21.4 million or 18.5% from $115.5 million in 2023[1]. - General and administrative expenses increased by $1.4 million or 37.3% to $5.2 million for the three months ended September 30, 2024, compared to $3.8 million in 2023[151]. - General and administrative expenses surged to $15.0 million, a 91.3% increase from $7.8 million, with the percentage of revenue rising from 5.7% to 9.7%[165]. - Pre-opening costs rose significantly by $1.1 million or 149.9% to $1.8 million for the three months ended September 30, 2024, compared to $0.7 million in 2023[150]. - Pre-opening costs increased significantly to $5.4 million from $2.1 million, attributed to more restaurants under development[165]. Cash Flow and Financing - Cash as of September 30, 2024, was $22.0 million, down from $32.6 million as of December 31, 2023, with working capital decreasing from $5.5 million to $(2.7) million[180]. - Net cash provided by operating activities for the nine months ended September 30, 2024 was $10.5 million, down from $13.5 million in the same period of 2023, representing a decrease of approximately 22%[191]. - Net cash used in investing activities during the nine months ended September 30, 2024 was $22.6 million, compared to a net cash provided of $1.4 million in 2023, indicating a significant shift in cash flow[192][193]. - Net cash provided by financing activities for the nine months ended September 30, 2024 was $1.6 million, a decrease of approximately 74% from $6.1 million in the same period of 2023[194][195]. - A $20 million line of credit was established on September 29, 2023, with no amounts borrowed as of September 30, 2024[114]. Economic and Market Conditions - The company is exposed to inflation risks, particularly in food, beverage, labor, and energy costs, which could impact profitability if not managed effectively[207]. - The company has been able to partially offset inflationary pressures by increasing menu prices, but future cost increases may not be fully absorbed by customers[208]. - The company is subject to interest rate risk, with its line of credit bearing an interest rate at the Wall Street Journal Prime Rate plus 0.25%[210]. Grants and Loans - The company received $16.8 million in Restaurant Revitalization Fund grants, with $3.8 million deferred as of September 30, 2024[116]. - As of September 30, 2024, the outstanding balance on Economic Injury Disaster Loans (EIDLs) was approximately $4.4 million, with no additional EIDLs expected[113]. Other Financial Metrics - Average Unit Volume (AUV) decreased to $5,514 for the twelve months ended September 30, 2024, down from $5,963 in the previous year[122]. - Revenue per square foot declined to $783 for the twelve months ended September 30, 2024, compared to $888 for the same period in 2023[127]. - Interest income (expense), net was $196 thousand for the three months ended September 30, 2024, compared to $190 thousand in 2023, reflecting a slight increase of $6 thousand or 3.2%[153]. - Interest income (expense), net was $0.7 million for the nine months ended September 30, 2024, compared to a net expense of $0.2 million in 2023, primarily due to interest income from IPO proceeds[169].

Exhibit 99.1 GEN Restaurant Group, Inc. Announces Third Quarter 2024 Financial Results Cerritos, CA, November 12, 2024 - GEN Restaurant Group, Inc. ("GEN" or the "Company") (Nasdaq: GENK), owner of GEN Korean BBQ, a fast-growing casual dining concept with an extensive menu and signature "grill at your table" experience, is announcing financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Financial and Recent Operational Highlights • Opened one new location during the third quar ...

GEN Restaurant Group, Inc. (NASDAQ:GENK) Q2 2024 Earnings Conference Call July 31, 2024 5:00 PM ET Company Participants Thomas Croal - CFO David Kim - Co-CEO Conference Call Participants Jeremy Hamblin - Craig Hallam Capital Group Todd Brooks - Benchmark Company George Kelly - ROTH Capital Partners Operator Greetings, welcome to GEN Restaurant Group 2024 Earnings Call. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to Tom Croal, CFO. Thank you. You ...

GEN Restaurant Group, Inc. (GENK) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 200%. A quarter ago, it was expected that this company would post earnings of $0.01 per share when it actually produced earnings of $0.11, delivering a surprise of 1,000%. Over the last four quarters, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41727 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------------------------- ...

Exhibit 99.1 GEN Restaurant Group, Inc. Announces Second Quarter 2024 Financial Results Cerritos, CA, July 31, 2024 - GEN Restaurant Group, Inc. ("GEN" or the "Company") (Nasdaq: GENK), owner of GEN Korean BBQ, a fast-growing casual dining concept with an extensive menu and signature "grill at your table" experience, is announcing financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Financial and Recent Operational Highlights • Total revenue increased 15.9% to $53.9 million comp ...

CERRITOS, Calif., July 25, 2024 (GLOBE NEWSWIRE) -- GEN Restaurant Group, Inc. ("GEN" or the "Company") (NASDAQ:GENK), owner of GEN Korean BBQ, a fast-growing casual dining concept with an extensive menu and signature "grill at your table" experience, has appointed David Park to the board of directors and to serve on the audit committee of the board, effective July 24, 2024. With Mr. Park's addition, GEN has expanded the board to five total directors with three serving independently. Mr. Park brings to the ...

Co-Chief Executive Officer David Kim and Chief Financial Officer Tom Croal will host the conference call, followed by a question-and-answer session. The conference call will be broadcast live here and available for replay via the investor relations section of the Company's website at www.genkoreanbbq.com. Toll-free replay number: 1-844-512-2921 International replay number: 1-412-317-6671 Replay ID: 13747302 Date: Wednesday. July 31, 2024 Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time) Toll-free dial-i ...

The new Premium Menu featuring high-quality, top shelf proteins is available for an extra price per person or a la carte, allowing diners to choose from a wide variety of delectable dishes including beef, pork, chicken and seafood options while enjoying the engaging and interactive experience of being their own chef. For more information, visit GenKoreanBBQ.com and follow the brand on Facebook, Instagram, LinkedIn, and TikTok. Premium Marinated Long Bone Short Rib Steak Premium Wagyu Premium Marbling Center ...

GEN Restaurant Group, Inc. (NASDAQ:GENK) Q1 2024 Earnings Call Transcript May 14, 2024 8:00 AM ET Company Participants Thomas Croal - CFO David Kim - Co-CEO Conference Call Participants Todd Brooks - Benchmark Company George Kelly - ROTH Capital Partners Operator Good afternoon, and welcome to the GEN Restaurant Group First Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator instructions] After today’s presentation, there will be an opportunity to ask questions. [O ...