Yoshiharu (US:YOSH)2025-05-06 20:52Revenue Growth - Fourth Quarter 2024 revenues increased by 47% to $3.7 million compared to $2.5 million in the prior year period[11] - Full Year 2024 revenues rose by 39.3% to $12.8 million from $9.2 million in the previous year[14] - Total revenue for 2024 reached $12,839,137, a significant increase of 39.5% compared to $9,214,779 in 2023[25] Profitability and Loss - Net income for the fourth quarter reached $0.5 million, a significant increase from $8,597 in the prior year[12] - Operating loss improved to $(2.6) million for the full year, compared to a loss of $(3.5) million in the prior year[16] - The net loss for 2024 was $2,665,869, a reduction from the net loss of $3,040,364 in 2023, indicating an improvement of 12.3%[25] - Basic and diluted loss per share decreased to $1.98 in 2024 from $2.29 in 2023, showing a 13.5% improvement[25] Operating Expenses - Total restaurant operating expenses for the fourth quarter were $2.6 million, up from $2.3 million in the prior year, reflecting the impact of new restaurant openings[11] - Total restaurant operating expenses increased to $11,322,662 in 2024, up from $8,850,385 in 2023, representing a rise of 27.5%[25] Cash Flow and Financial Position - Cash balance as of December 31, 2024, was $1.2 million, down from $1.5 million a year earlier[17] - Cash provided by operating activities was $875,224 in 2024, a turnaround from cash used of $(4,591,656) in 2023[27] - Cash at the end of the period decreased to $1,241,036 in 2024 from $1,462,326 in 2023, reflecting a decrease of 15.1%[27] - Interest paid during the year increased to $443,487 in 2024 from $218,153 in 2023, a rise of 103.5%[27] Expansion Plans - The company opened two new restaurants in Menifee and San Clemente, bringing the total number of locations to 15, with one additional location under development[6] - The company plans to open 2-3 new locations in Southern California and expand internationally to cities like Paris, London, and South Korea[6] - The company anticipates initiating franchise sales in 2025 as part of its growth strategy[6] Strategic Acquisitions - The company acquired LV entities for $1,800,000 in 2024, indicating a strategic expansion[27] Shareholder Information - The weighted average number of common shares outstanding increased to 1,345,756 in 2024 from 1,329,022 in 2023, an increase of 1.3%[25] - Financing commitments of $3.56 million were secured, and $2.5 million in debt was converted to equity, aiding compliance with Nasdaq's stockholders' equity requirement[3]