Segment Information

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Information

(18) Segment Information

The Company operates 43 Gen Korean BBQ restaurants in the United States. The CODM is the Chief Executive Officer. The Company determined it has one reportable segment, as the CODM regularly reviews restaurant operations and financial performance at a consolidated level. The CODM uses net income to allocate resources (including labor, technology and capital resources) for the single segment to make decisions regarding annual budget, new restaurant openings, entering new geographic markets, landlord and vendor negotiation, marketing decisions, pursuing new business ventures, and driving the Company’s mission.

	Year ended December 31,
(in thousands)	2024			2023
Segment revenue	$	208,380		$	181,007
Less:
Food cost		68,730			58,322
Payroll and benefits		64,322			56,889
Occupancy expenses		17,524			14,653
Operating expenses		21,538			18,043
Depreciation and amortization		6,735			4,808
Pre-opening costs		7,607			3,680
Segment Income from Operations		21,924			24,612
Reconiliation:
General and administrative		21,326			12,937
Consulting fees - related party		—			2,325
Management fees		—			1,176
Employee retention credits		(199	)		(2,483	)
Gain on remeasurement of previously held interest		(3,402	)		—
Interest income, net		(829	)		(347	)
Other costs		122			84
Equity in (loss) income of equity method investee		17			(535	)
Net income before taxes	$	4,889		$	11,455