The ONE Group Hospitality, Inc. (NASDAQ:STKS) Q2 2024 Earnings Conference Call August 6, 2024 4:30 PM ET

Company Participants

Tyler Loy - Chief Financial Officer
Emanuel Hilario - President & Chief Executive Officer

Conference Call Participants

James Salera - Stephens Inc.
Mark Smith - Lake Street Capital
Michael Symington - Wedbush Securities
Roger Lipton - Lipton Financial Services

Operator

Greetings, and welcome to the ONE Group Second Quarter 2021 Earnings Conference Call. At this time, all participants are in listen-only mode. [Operator Instructions]. A brief question-and-answer session will follow the formal presentation. [Operator instructions]. As a reminder, this conference is being recorded.

I would now like to turn the conference call over to Tyler Loy, Chief Financial Officer. Please go ahead.

Tyler Loy

Thank you, operator, and hello, everyone. Before we begin our formal remarks, let me remind you that part of our discussion today will include forward-looking statements. These forward-looking statements are not guarantees of future performance, and you should not place undue reliance on them. These statements are also subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect.

Please also note that these forward-looking statements reflect our opinion only as of the date of this call. We undertake no obligation to revise or publicly release any revisions of these forward-looking statements in light of new information or future events. We refer you to our recent SEC filings for a more detailed discussion of the risks that could impact our future operating results and financial conditions. During today's call, we will discuss certain non-GAAP financial measures, which we believe can be useful in evaluating our performance. However, the presentation of these measures or other information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP.

For reconciliations of these measures, such as adjusted EBITDA, adjusted net income, restaurant operating profit, comparable sales and total food and beverage sales have totally been managed to license and franchise units to GAAP measures, along with a discussion of why we consider these measures useful, please see our earnings release issued today.

With that, I would like to turn the call over to Emanuel Hilario.

Emanuel Hilario

Thank you, Tyler, and hello, everyone. We sincerely appreciate you joining us today and for your interest in the ONE Group. Let me start by thanking our dedicated team members and extending a warm welcome to the approximately 6,500 new teammates who joined the one group in May, following our acquisition of the Benihana and RA Sushi brands. The acquisition marks the beginning of an exciting new chapter for the ONE Group as we now operate four distinct brands, FTK, Benihana, Kuna Grill and RA Sushi.