The ONE Group Hospitality(STKS) - 2021 Q2 - Earnings Call Presentation

Financial Performance - Total GAAP revenues increased by 324.6% to $70.8 million in Q2 2021, compared to $16.7 million in Q2 2020[2,7] - GAAP net income attributable to The ONE Group was $13.8 million, or $0.41 net income per share, compared to a GAAP net loss of $2.9 million, or $0.10 net loss per share in Q2 2020[2,11] - Adjusted EBITDA increased to $12.9 million in Q2 2021 from a loss of $0.8 million in Q2 2020[2,12] - Restaurant Operating Profit was $15.3 million, or 22.6% of Company-owned restaurant net revenues, in Q2 2021, compared to $0.3 million, or 1.9% in Q2 2020[10] - Adjusted Net Income attributable to The ONE Group Hospitality, Inc was $6.5 million, or $0.19 per share, compared to adjusted net loss of $2.4 million, or $0.08 net loss per share, in Q2 2020[12] Sales Growth - Domestic Same Store Sales increased 38.0% vs 2019 for Q2 and 59.5% vs 2019 for the month of July[1] - Consolidated comparable sales increased 38.0% for the quarter and 59.5% for the month of July compared to 2019[3] - Comparable sales for STK increased 54.3% for the quarter and 92.8% for the month of July compared to 2019[3] - Comparable sales for Kona Grill increased 23.0% for the quarter and 31.9% for the month of July compared to 2019[3] Expansion and Development - The company intends to open a total of 13 new STK and F&B venues in 2021 and 2022[5,19] - The company views itself as having a long-term addressable market of at least 200 STK restaurants globally and at least 200 Kona Grill restaurants domestically with an initial growth target of three to five Kona Grills per year[5]