Core Insights - GEN Restaurant Group, Inc. reported total revenue of 208.4millionfor2024,markinga1554.7 million, a 21.2% increase from 45.1millioninQ42023[7][8]−AdjustedEBITDAforQ42024increasedby252.1 million, representing 3.8% of revenue, while for the full year, adjusted EBITDA was 16.7million,or84.9 million, equating to 0.13perdilutedshareofClassAcommonstock[15][27]OperationalHighlights−ThecompanyopenedninenewlocationssinceMarch2024,includingsixin2024andthreeinearly2025,withplanstoopenanadditional10−13newunitsthroughout2025[5][7]−GENisexpandinginternationally,withatleasttwonewrestaurantsplannedtoopeninSouthKoreain2025[5][7]−AsofDecember31,2024,thecompanyhad23.7 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 5.6millioninQ42024,primarilyduetoadditionalpersonnelfornewrestaurantdevelopment[9][12]−Restaurantpre−openingexpensesroseto2.3 million in Q4 2024 from $1.6 million in Q4 2023, reflecting the higher volume of new store openings [13][14]
GEN Restaurant (GENK) GlobeNewswire·2025-03-06 21:05