Revenue Performance - Total revenue for 2024 reached $208.4 million, a 15.1% increase from $181.0 million in 2023[5] - Fourth quarter revenue grew 21.2% year-over-year to $54.7 million, compared to $45.1 million in Q4 2023[8] - Revenue for Q4 2024 reached $54.654 million, a 21.1% increase from $45.108 million in Q4 2023[29] Comparable Restaurant Sales - Comparable restaurant sales decreased 5.6% for the full year 2024 and 4.8% in Q4 2024[13][8] - Comparable restaurant sales performance declined by 4.8% in Q4 2024, compared to a decrease of 0.2% in Q4 2023[31] Profitability Metrics - Adjusted EBITDA for 2024 was $16.7 million, representing 8.0% of revenue, down from $18.8 million and 10.4% in 2023[15] - Adjusted EBITDA for Q4 2024 was $2.056 million, representing a margin of 3.8%, slightly up from 3.6% in Q4 2023[31] - Restaurant-level Adjusted EBITDA for Q4 2024 was $9.305 million, with a margin of 17.0%, compared to 16.0% in Q4 2023[34] - Net income margin for the year ended December 31, 2024, was 2.2%, down from 6.3% in 2023[31] - Net loss for Q4 2024 was $1.397 million, compared to a loss of $0.193 million in Q4 2023[29] - Adjusted net income for Q4 2024 was $(694) thousand, compared to $536 thousand in Q4 2023[36] Expenses and Financial Position - General and administrative expenses increased to $18.3 million in 2024, up from $12.6 million in 2023[13] - Total restaurant operating expenses for Q4 2024 were $49.581 million, up 21.3% from $40.878 million in Q4 2023[29] - Cash and cash equivalents as of December 31, 2024, were $23.7 million, with no material long-term debt[16] - Total assets increased to $240.415 million in 2024 from $183.870 million in 2023[31] Expansion Plans - The company opened nine new locations since March 2024, with plans to open 10-13 new units in 2025[5] - The company plans to expand internationally with at least two new locations in South Korea in 2025[5] - The number of restaurants at the end of Q4 2024 was 43, up from 37 in Q4 2023[31] Special Programs - The company initiated a successful gift card program with Costco in 2024[5]

Core Insights - GEN Restaurant Group, Inc. reported total revenue of $208.4 million for 2024, marking a 15% increase year-over-year and exceeding the company's guidance and analysts' expectations [4][7][12] - The company achieved a restaurant-level adjusted EBITDA margin of approximately 18% for 2024, consistent with its outlook [4][7] - Comparable restaurant sales for Q1 2025 have shown a positive growth of 1% through the end of February, a 6% improvement compared to Q4 2024 [1][5] Financial Performance - Total revenue for Q4 2024 was $54.7 million, a 21.2% increase from $45.1 million in Q4 2023 [7][8] - Adjusted EBITDA for Q4 2024 increased by 25% to $2.1 million, representing 3.8% of revenue, while for the full year, adjusted EBITDA was $16.7 million, or 8% of revenue [7][16] - The net income before income taxes for the full year was $4.9 million, equating to $0.13 per diluted share of Class A common stock [15][27] Operational Highlights - The company opened nine new locations since March 2024, including six in 2024 and three in early 2025, with plans to open an additional 10-13 new units throughout 2025 [5][7] - GEN is expanding internationally, with at least two new restaurants planned to open in South Korea in 2025 [5][7] - As of December 31, 2024, the company had $23.7 million in cash and cash equivalents and no material long-term debt, positioning it well for future growth [17][29] Cost Management - Total restaurant operating expenses as a percentage of revenue decreased to 86.6% in Q4 2024 from 87.2% in Q4 2023 [9] - General and administrative expenses increased to $5.6 million in Q4 2024, primarily due to additional personnel for new restaurant development [9][12] - Restaurant pre-opening expenses rose to $2.3 million in Q4 2024 from $1.6 million in Q4 2023, reflecting the higher volume of new store openings [13][14]

Core Viewpoint - GEN Restaurant Group, Inc. will hold a conference call on March 6, 2025, to discuss its financial results for Q4 and the full year ended December 31, 2024 [1]. Company Overview - GEN Korean BBQ is one of the largest Asian casual dining restaurant concepts in the United States, founded in 2011 by two Korean immigrants in Los Angeles [3]. - The brand has expanded to over 40 company-owned locations, offering a unique dining experience where guests grill their own meals at the table [3]. - The menu features traditional Korean and Korean-American dishes, including high-quality meats, poultry, seafood, and mixed vegetables [3]. - The restaurant's modern décor and lively atmosphere create an engaging and interactive dining experience appealing to a broad customer base [3]. Conference Call Details - The conference call will be hosted by Chairman and CEO David Kim and CFO Tom Croal, followed by a Q&A session [2]. - The call is scheduled for March 6, 2025, at 5:00 p.m. Eastern time, with a toll-free dial-in number provided for participants [2]. - A live webcast of the conference call will be available, along with a replay option through the investor relations section of the company's website [3].

Core Insights - GEN Restaurant Group, Inc. has opened a new restaurant location in San Antonio, Texas, marking its third opening in January 2025, following successful launches in Edison, New Jersey, and Orlando, Florida [1][2] Company Expansion - The new San Antonio location is part of GEN's strategy to expand its presence in Texas, where existing locations have performed strongly [2] - The company aims to continue its growth momentum throughout 2025, having started the year with three successful openings [2] Unique Dining Experience - GEN Korean BBQ offers a distinctive "grill at your table" experience, which aligns well with San Antonio's rich food culture and love for barbecue [2] - The restaurant features an extensive menu that includes traditional Korean and Korean-American dishes, allowing guests to prepare their meals on embedded grills [4] Company Background - Founded in 2011, GEN Korean BBQ has grown to over 40 company-owned locations across the United States, making it one of the largest Asian casual dining concepts in the country [4] - The brand is known for its engaging and interactive dining experience, appealing to a wide demographic [4]

Core Insights - GEN Restaurant Group, Inc. is expanding its operations by opening two new locations in Edison, New Jersey, and Orlando, Florida, as part of its national expansion strategy [1][2]. Expansion Strategy - The CEO of GEN, David Kim, expressed satisfaction with the progress of the company's national expansion plans, highlighting the importance of reaching new audiences in New Jersey and Florida [2]. - The Edison location is strategically chosen for its cultural richness and culinary scene, aligning with GEN's goal to introduce its "grill at your table" concept in key markets [2]. - Orlando's diverse population and status as a tourist destination make it an ideal market for GEN, aiming to attract both locals and visitors seeking unique dining experiences [3]. Location Details - The Edison, New Jersey location is situated in Festival Plaza and operates from 11:00 a.m. to 10:30 p.m. Monday to Thursday, and 11:00 a.m. to 11:00 p.m. Friday to Sunday [4]. - The Orlando, Florida location is located in Waterford Lakes Town Center, with operating hours from 11:00 a.m. to 10:30 p.m. Sunday to Thursday, and 11:00 a.m. to 11:30 p.m. Friday to Saturday [4]. Company Overview - GEN Korean BBQ is one of the largest Asian casual dining restaurant concepts in the U.S., founded in 2011, and has grown to over 40 company-owned locations [6]. - The restaurant offers a unique dining experience where guests prepare their meals on embedded grills, featuring a menu that includes traditional Korean and Korean-American dishes [6].

Leadership Changes - Co-Founder Jae Chang has stepped down as Co-CEO effective January 8, 2025, but will remain on the Company's board [1] - David Kim, the Chairman and Co-CEO, is now the sole CEO of the Company [1] Company Overview - GEN Korean BBQ is one of the largest Asian casual dining restaurant concepts in the United States, founded in 2011 [3] - The brand has grown to over 40 company-owned locations, offering a unique dining experience where guests prepare meals on embedded grills [3] - The menu features traditional Korean and Korean-American food, including high-quality meats, poultry, seafood, and mixed vegetables [3] Future Outlook - David Kim expressed confidence in continuing the growth strategy and building upon the foundation laid by Jae Chang [2]

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 ...

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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Exact Name of Registrant as Specified in its Charter) | Delaware | 87-3424935 | | --- | --- | | ( State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | | 11480 South Street Suite 205 | | | Cerritos, CA | 90703 | | (Address of principal executive offices) | (Zip Code) | | | Registrant's telephone number, including area code: (562) 356-9929 | (Mark One) ☒ QUARTERLY REPORT PUR ...