Other Related-Party Transactions	12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]
Other Related-Party Transactions	(15) Other Related-Party Transactions The Company purchased approximately $678 thousand and $2.8 million for the year ended December 31, 2024 and December 31, 2023, respectively, of supplies from Pacific Global (“PGD”), which is 100% owned by Mr. Jae Chang, a member of our Board of Directors’ and Mr. Chang's direct family. Outstanding obligations for supply purchases from PGD of approximately $20 thousand and $137 thousand are included in accounts payable as of December 31, 2024, and December 31, 2023, respectively. In 2016, the Company entered into a management agreement with JL Restaurant Management, Inc (formerly known as J&J Management Group, Inc.) a third party which shares offices with Mr. Jae Chang, a member of our Board of Directors. Pursuant to the agreement, the Company paid approximately $1.2 million during the year ended December 31, 2023. As of December 31, 2023, included in accounts payable were payments due for obligations for management services provided by JL Restaurant Management, Inc. of $0 and $24 thousand, respectively. Following the IPO on June 27, 2023 this management agreement was terminated. The Company previously purchased food from Wise Universal Inc., an affiliate 60% owned by Mr. Chang for approximately $12.4 million for the year ended December 31, 2023. As of years ended December 31, 2024 and 2023, the Company did not have any outstanding obligations Wise. During the year ended December 31, 2024, the Company did not make any purchases from Wise. On August 29, 2014, the Company entered into a consulting agreement (the “Consulting Agreement”) with Ignite, 100% owned by Mr. David Kim, our Chief Executive Officer, which provides for annual fees of up to 25% of gross revenue in exchange for various consulting services. The Company paid approximately $2.3 million for the year ended December 31, 2023. Following the IPO on June 27, 2023 this agreement was terminated. During the year ended December 31, 2024 and December 31, 2023, the Company paid approximately $0 thousand and $30 thousand to Fast Fabrications, LLC (“Fast Fabrications”), for services related to restaurant interior construction. Fast Fabrications is an affiliate that is 100% owned by an employee of the Company. That employee is also a partner in several of the LP entities and a member of GEN Hawaii. As of December 31, 2023, GEN Mountain View had a related party account payable to a company owned by Mr. David Kim, our Chief Executive Officer, purchases of fixed assets during 2018. During the year ended December 31, 2024, GEN Mountain View paid $105 thousand towards this payable. As of December 31, 2024, the related party account payable was $47 thousand. During 2024, the company paid approximately $466 thousand to Ignite Enterprises, LLC (100% owned by David Kim), for reimbursement of travel and related expenses.

Other Related-Party Transactions

12 Months Ended

Dec. 31, 2024

(15)

Other Related-Party Transactions

The Company purchased approximately $678 thousand and $2.8 million for the year ended December 31, 2024 and December 31, 2023, respectively, of supplies from Pacific Global (“PGD”), which is 100% owned by Mr. Jae Chang, a member of our Board of Directors’ and Mr. Chang's direct family. Outstanding obligations for supply purchases from PGD of approximately $20 thousand and $137 thousand are included in accounts payable as of December 31, 2024, and December 31, 2023, respectively.

In 2016, the Company entered into a management agreement with JL Restaurant Management, Inc (formerly known as J&J Management Group, Inc.) a third party which shares offices with Mr. Jae Chang, a member of our Board of Directors. Pursuant to the agreement, the Company paid approximately $1.2 million during the year ended December 31, 2023. As of December 31, 2023, included in accounts payable were payments due for obligations for management services provided by JL Restaurant Management, Inc. of $0 and $24 thousand, respectively. Following the IPO on June 27, 2023 this management agreement was terminated.

The Company previously purchased food from Wise Universal Inc., an affiliate 60% owned by Mr. Chang for approximately $12.4 million for the year ended December 31, 2023. As of years ended December 31, 2024 and 2023, the Company did not have any outstanding obligations Wise. During the year ended December 31, 2024, the Company did not make any purchases from Wise.

On August 29, 2014, the Company entered into a consulting agreement (the “Consulting Agreement”) with Ignite, 100% owned by Mr. David Kim, our Chief Executive Officer, which provides for annual fees of up to 25% of gross revenue in exchange for various consulting services. The Company paid approximately $2.3 million for the year ended December 31, 2023. Following the IPO on June 27, 2023 this agreement was terminated.

During the year ended December 31, 2024 and December 31, 2023, the Company paid approximately $0 thousand and $30 thousand to Fast Fabrications, LLC (“Fast Fabrications”), for services related to restaurant interior construction. Fast Fabrications is an affiliate that is 100% owned by an employee of the Company. That employee is also a partner in several of the LP entities and a member of GEN Hawaii.

As of December 31, 2023, GEN Mountain View had a related party account payable to a company owned by Mr. David Kim, our Chief Executive Officer, purchases of fixed assets during 2018. During the year ended December 31, 2024, GEN Mountain View paid $105 thousand towards this payable. As of December 31, 2024, the related party account payable was $47 thousand.

During 2024, the company paid approximately $466 thousand to Ignite Enterprises, LLC (100% owned by David Kim), for reimbursement of travel and related expenses.