By Karen Roman
The ONE Group Hospitality, Inc. (Nasdaq: STKS) said fourth quarter revenue increased 146.7% to $221.9 million from $89.9 million and operating income rose 158.9% to $12.8 million from $4.9 million.
The company opened six new restaurants in 2024 and plans to open five to seven more in 2025, it declared.
The ONE Group expects revenue between $200 and $205 million for Q1 2025 and adjusted EBITDA from $24 to $26 million, the company said.
“We were pleased that annual revenue and adjusted EBITDA reached the higher end of our guided ranges,” said Emanuel “Manny” Hilario, the company’s President and CEO.
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