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Condensed Consolidated Income Statements - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue $ 53,860 $ 46,473 $ 104,620 $ 90,335
Restaurant operating expenses:        
Food cost 17,700 14,786 34,668 29,091
Payroll and benefits 16,362 14,323 32,514 27,975
Occupancy expenses 4,389 3,673 8,682 7,104
Operating expenses 5,358 4,299 10,457 8,425
Depreciation and amortization 1,706 1,131 3,243 2,244
Pre-opening costs 1,645 881 3,547 1,400
Total restaurant operating expenses 47,160 39,093 93,111 76,239
General and administrative 5,058 1,958 9,731 4,013
Consulting fees - related party   1,445   2,325
Management fees   589   1,176
Depreciation and amortization - corporate 29 18 57 37
Total costs and expenses 52,247 43,103 102,899 83,790
Income from operations 1,613 3,370 1,721 6,545
Employee retention credits 200 1,318 200 2,483
Other income (loss)   (7)   (7)
Gain on remeasurement of previously held interest (see Note 3)     3,402  
Interest income (expense), net 262 (207) 538 (396)
Equity in income (loss) of equity method investee   86 (17) 467
Net income before income taxes 2,075 4,560 5,844 9,092
Provision for income taxes (11) (96) (83) (96)
Net income 2,064 4,464 5,761 8,996
Less: Net income attributable to noncontrolling interest 1,787 504 4,990 901
Net income attributable to GEN Restaurant Group, Inc. 277 $ 3,960 771 $ 8,095
Net income attributable to Class A common stock per share - basic 277   771  
Net income attributable to Class A common stock per share - diluted $ 277   $ 771  
Weighted-average shares of Class A common stock outstanding - basic 4,572 4,249 4,446 4,249
Weighted-average shares of Class A common stock outstanding - diluted 4,572 4,249 4,446 4,249
Net income per share of Class A common stock - basic $ 0.06   $ 0.17  
Net income per share of Class A common stock - diluted $ 0.06   $ 0.17