GEN Restaurant (US:GENK)2025-03-07 03:26Financial Data and Key Metrics Changes - For the full year 2024, the company reported revenue of $208 million, exceeding the guidance range of $200 million to $205 million [8] - Restaurant-level adjusted EBITDA for the year was $36.9 million, with a margin of 17.7%, aligning with expectations [31] - Total adjusted EBITDA for 2024 was $16.7 million, a decrease from $18.8 million in 2023, primarily due to increased preopening costs [32] Business Line Data and Key Metrics Changes - The company opened six new restaurants in 2024, with three additional openings in January 2025, bringing the total to 46 locations [15] - Comparable same-store sales for 2024 were down 5.6% year-over-year, but early 2025 saw a return to growth with positive 1% comp figures [17][19] Market Data and Key Metrics Changes - The company experienced a 21% year-over-year total revenue growth in Q4 2024, with revenue reaching $54.7 million [12][26] - The cost of goods sold as a percentage of restaurant sales increased by 160 basis points in Q4 2024 compared to the previous year [26] Company Strategy and Development Direction - The company aims to open 10 to 13 new restaurants in 2025, with a medium-term goal of around 75 total restaurants by the end of 2026 [22][36] - The company is planning international expansion, with at least two locations in South Korea planned for 2025 [22][23] Management's Comments on Operating Environment and Future Outlook - Management noted that the business model does not rely on comparable restaurant sales growth but focuses on expanding store count [17] - The board approved a stock buyback program for up to $5 million, reflecting confidence in the company's future [19] Other Important Information - The company reported a net loss before income taxes of $1.2 million in Q4 2024, attributed to preopening costs [29] - The company maintains a healthy liquidity position with $23.7 million in cash and cash equivalents and no material long-term debt aside from government-funded loans [33][34] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating that the Q&A session may not have occurred or was not included in the records [38]