The ONE Group Hospitality, Inc. (STKS) Reports Q3 Loss, Lags Revenue Estimates

ONE Group (STKS) held its Q2 2026 earnings call. The company reported $33 million operating cash flow in the first six months of 2026 versus $11 million a year earlier, and reduced net capex by about 38% year to date. Total revenue was about $200 million, down 3.2% y/y, while consolidated restaurant-level operating margin rose to 16.4%. Comparable sales grew 0.9% for the quarter.

The ONE Group reported 2Q26 restaurant profitability gains, citing procurement savings and Benihana integration benefits. Company-owned cost of sales improved to 19.5% of owned net revenue (from 21.2% in 2Q25), lifting restaurant operating profit to $32.4M and margin to 16.4% (from 15.3%). Operating income rose to $6.6M (from $0.7M).

ONE Group Hospitality, Inc. (STKS) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 ​ ​ The ONE Group Reports Second Quarter 2026 Financial Results ​ Positive Comparable Sales, Positive Transactions Across All Business Segments ​ Capital Expenditures, Net of Tenant Improvement Allowances, Reduced 38% Year-Over-Year as Company Prioritizes Capital-Eff

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