GEN Restaurant Group Reports Second Quarter 2026 Financial Results
Rhea-AI Summary
GEN Restaurant Group (Nasdaq: GENK) reported Q2 2026 revenue of $55.7 million, up 1.2% year-over-year, driven by growth in its consumer packaged goods (CPG) division and newer restaurants, partially offset by a 9.3% decline in comparable restaurant sales and the exit of six restaurants that generated $2.3 million in Q2 2025.
The company reported a loss from operations of $5.2 million and net loss of $4.6 million, or $(0.14) per diluted share. Restaurant-level adjusted EBITDA was $6.3 million (11.3% margin), improving sequentially but down from $9.0 million a year earlier. Adjusted EBITDA turned slightly negative at $(0.04) million.
CPG momentum accelerated, with division revenue up 341% sequentially and June CPG revenue above $2 million. GEN secured purchase commitments from more than 100 Costco warehouses, national distribution agreements with United Natural Foods and C&S Wholesale Grocers, and nearly 2,000 retail doors. The company received a non-binding letter of intent from a nationwide multi-concept restaurant operator to acquire its U.S. restaurant operations, with GEN retaining its CPG and retail business; the Board is reviewing the proposal with no assurance of a transaction.
Positive
- Revenue up 1.2% year-over-year to $55.7 million in Q2 2026
- CPG division revenue grew 341% sequentially, with June exceeding $2 million
- Secured commitments from 100+ U.S. Costco warehouses, over 16% of Costco’s domestic footprint
- CPG products now in nearly 2,000 supermarkets and club stores nationwide
- Restaurant-level adjusted EBITDA of $6.3 million, margin improving sequentially to 11.3%
- Cash balance increased to $5.9 million from $2.8 million at year-end 2025
- Received non-binding LOI to acquire U.S. restaurant operations, with GEN retaining its CPG and retail business
Negative
- Net loss widened to $4.6 million from $1.7 million year-over-year in Q2
- Loss from operations increased to $5.2 million, or (9.2)% of revenue
- Comparable restaurant sales declined 9.3% in Q2 2026
- Adjusted EBITDA turned negative at $(0.04) million versus $1.9 million in Q2 2025
- Total restaurant operating expenses rose to 95.4% of revenue from 91.7%
- Total debt increased to $24.0 million from $14.6 million at December 31, 2025
- Recognized $0.6 million loss on lease termination related to two Korea locations
News Explained
The Q2 report adds a liquidity marker: as of
Market Reaction – GENK
Following this news, GENK has gained 19.23%, reflecting a significant positive market reaction. Argus tracked a peak move of +1.4% during the session. Our momentum scanner has triggered 26 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $2.17. Trading volume is exceptionally heavy at 448.7x the average, suggesting very strong buying interest.
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Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 06 | 2Q25 earnings report | Positive | -17.4% | Revenue grew, liquidity remained strong, and the company initiated its first dividend. |
| May 13 | 1Q25 earnings report | Positive | -16.5% | Revenue growth, store expansion, and maintained guidance contrasted with macroeconomic headwinds. |
| Mar 06 | 4Q24 earnings report | Positive | +22.8% | Quarterly and annual revenue growth exceeded guidance alongside strong adjusted EBITDA margins. |
| Nov 12 | 3Q24 earnings report | Positive | -19.1% | Revenue increased and margins stayed above 18% despite comparable-sales declines. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
GENK earnings events were mostly followed by negative reactions despite generally favorable growth disclosures, with three divergences and one alignment.
Key Terms
adjusted ebitda financial
non-gaap financial
comparable restaurant sales financial
letter of intent financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
CPG Momentum Accelerates with Purchase Commitments from More Than 100 Costco Warehouses Nationwide and New Distribution Agreements with United Natural Foods and C&S Wholesale Grocers
Second Quarter Revenue Increased
CERRITOS, CA / ACCESS Newswire / August 10, 2026 / GEN Restaurant Group, Inc. ("GEN" or the "Company") (Nasdaq:GENK), a leader in Korean BBQ both in-restaurant and at home, with 54 GEN Korean BBQ locations and a rapidly growing consumer packaged goods ("CPG") business, today announced its financial results for the second quarter ended June 30, 2026.
Financial Summary:
$ in millions (except per share data) | Q2 2026 | Q2 2025 | ||||||
Revenue | $ | 55.7 | $ | 55.0 | ||||
Loss from Operations | $ | (5.2 | ) | $ | (1.9 | ) | ||
Restaurant-Level Adjusted EBITDA (non-GAAP) | $ | 6.3 | $ | 9.0 | ||||
Adjusted EBITDA (non-GAAP) | $ | (0.04 | ) | $ | 1.9 | |||
Net Loss | $ | (4.6 | ) | $ | (1.7 | ) | ||
Net Loss per Class A Share (Diluted) | $ | (0.14 | ) | $ | (0.05 | ) |
Second Quarter 2026 Financial and Recent Operational Highlights
Total revenue increased
1.2% to$55.7 million for the second quarter of 2026, as compared to$55.0 million in the second quarter of 2025, which reflects growth in the Company's CPG division and revenue from restaurants opened in 2025 and 2026, partially offset by a decline in comparable restaurant sales and the loss of revenue from the six restaurants exited during the quarter. Comparable restaurant sales performance was (9.3)% for the second quarter of 2026, as compared to (8.8)% in the first quarter of 2026 and (7.2)% in the second quarter of 2025. Comparable restaurant sales reflect the year-over-year change in sales for restaurants in operation for at least 18 full months prior to the periods presented.Announced receipt of a non-binding letter of intent from a nationwide, multi-concept restaurant operator to acquire the Company's U.S. restaurant operations - with GEN retaining
100% of its rapidly growing consumer packaged goods ("CPG") and retail business and, if a transaction is consummated on such terms, marking a strategic shift toward a fully CPG-focused company. The Board of Directors is reviewing the proposal, and no assurance can be given that any transaction will result.Secured purchase commitments from approximately 60 to 70 Costco Warehouse locations across the Pacific Northwest following the Company's first Costco roadshow in the region - bringing GEN's total commitments to more than 100 U.S. Costco Warehouses, or over
16% of Costco's domestic footprint, with Northwest warehouses expected to begin receiving GEN products in their freezer sections starting in August 2026.Secured key distribution agreements for the Company's CPG product lines with United Natural Foods (UNFI) and C&S Wholesale Grocers, one of the largest grocery distributors and wholesale grocery supply companies in the United States, respectively.
Secured retail placement at leading grocers nationally, including Save Mart Supermarkets, Smart & Final, Northgate Market and Times Supermarkets - bringing GEN's door count to nearly 2,000 supermarkets and club stores nationwide.
Grew CPG division revenue
341% sequentially from the first quarter of 2026, with June representing the division's largest month to date at more than$2 million of revenue. Based on doors secured to date and the stores currently in its pipeline, GEN estimates a forward 12-month revenue run rate of$35 million to$40 million - with more than 1,000 additional doors already presented to buyers and more than 8,000 further doors in active outreach across grocery and mass retail.Cash and cash equivalents were
$5.9 million as of June 30, 2026, compared to$2.8 million as of December 31, 2025, with$12.1 million outstanding under the Company's line of credit, compared to$1.0 million as of December 31, 2025.
Management Commentary
David Kim, Chairman and Chief Executive Officer of GEN, commented: "The defining development of the second quarter was the strategic path it set for GEN. Earlier today, we announced receipt of a non-binding letter of intent from a nationwide, multi-concept restaurant operator to acquire our U.S. restaurant operations, with GEN retaining
"Our confidence in CPG is grounded in the momentum of our retail business, where GEN products are now in nearly 2,000 retail doors nationwide. Our CPG division delivered its best quarter yet, with revenue up
"On execution: we already purchase nearly
"Total revenue for the second quarter of 2026 increased
"As Korean food continues to move firmly into the American mainstream, GEN has built the brand, the products and the retail relationships to meet that demand at scale," concluded Kim.
Second Quarter 2026 Financial Results
Total revenue increased
Total restaurant operating expenses were
Loss from operations was
General and administrative expenses totaled
Net loss was
Adjusted EBITDA was negative
Cash and cash equivalents were
Conference Call
GEN will host an investor conference call on Monday, August 10, 2026 at 5:00 p.m. Eastern time to discuss the Company's financial results for the second quarter ended June 30, 2026, provide a corporate update, and conclude with a question-and-answer session from telephone participants. Chairman and Chief Executive Officer David Kim and Chief Financial Officer Luke Hewko will host the call. To participate, please use the following information:
Q2 2026 Earnings Conference Call
Date: Monday, August 10, 2026
Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
U.S. Dial-in: 1-800-717-1738
International Dial-in: 1-646-307-1865
Conference ID: 96912
Webcast: GENK Q2 2026 Earnings Conference Call
Please join at least five minutes before the start of the call to ensure timely participation. The conference call will be broadcast live via webcast and available for replay via the investor relations section of the Company's website at investor.genkoreanbbq.com.
A telephonic replay of the conference call will be available after 9:00 p.m. Eastern time on the same day through Monday, August 24, 2026. To listen, please call 1-844-512-2921 within the United States and Canada or 1-412-317-6671 when calling internationally, using replay ID 1196912. A webcast replay will also be available using the webcast link above.
About GEN Restaurant Group, Inc.
GEN Korean BBQ (Nasdaq: GENK) is a leader in Korean BBQ, with 54 company-owned restaurant locations and a rapidly growing consumer packaged goods business. Founded in 2011 by two Korean immigrants in Los Angeles, GEN has grown into one of the largest Asian casual dining concepts in the United States, where an interactive "grill at your table" format, extensive menu of traditional Korean-inspired dishes, modern décor and lively atmosphere draw a broad and loyal guest base. As Korean flavors move further into the American mainstream, the Company's rapidly growing consumer packaged goods business is capturing at-home dining occasions, with distribution expanding across grocery and warehouse club retailers nationwide. For more information, please visit GenKoreanBBQ.com.
Non-GAAP Measures
Restaurant-level adjusted EBITDA represents (loss) income from operations plus adjustments for the following items: depreciation and amortization, pre-opening costs, loss on lease termination, gain on deconsolidation of restaurants, general and administrative expenses, and non-cash lease expense. Non-cash items such as charges for asset impairments and asset disposals are not included in restaurant-level adjusted EBITDA. Restaurant-level adjusted EBITDA margin is the calculation of restaurant-level adjusted EBITDA divided by revenue. Management believes that restaurant-level adjusted EBITDA and restaurant-level adjusted EBITDA margin are useful to investors because these measures highlight trends in our core business that may not otherwise be apparent to investors when relying solely on GAAP financial measures and enabling investors to more effectively compare the Company's performance to prior and future periods.
Adjusted EBITDA represents net (loss) income excluding interest (expense) income, net, income taxes, depreciation and amortization, stock-based compensation, employee retention credits, litigation accrual for a discrete claim, loss on lease termination, gain on deconsolidation of restaurants, non-cash lease expense and non-cash lease expense included in pre-opening costs. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue. Management believes that Adjusted EBITDA and Adjusted EBITDA margin are useful to investors because these measures highlight trends in our core business that may not otherwise be apparent to investors when relying solely on GAAP financial measures and enabling investors to more effectively compare the Company's performance to prior and future periods.
Adjusted Net (Loss) Income represents net (loss) income, adjusted for pre-opening costs, non-cash stock-based compensation, legal settlements, loss on lease termination, gain on deconsolidation of restaurants, and the related tax impact of the adjustments. Adjusted net (loss) income per share is defined as adjusted net (loss) income divided by the weighted-average number of shares of Class A common stock outstanding for the applicable period. Management believes that adjusted net (loss) income and adjusted net (loss) income per share are useful to investors because these measures highlight trends in our core business that may not otherwise be apparent to investors when relying solely on GAAP financial measures and enabling investors to more effectively compare the Company's performance to prior and future periods.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements may be identified by the use of words such as "believe," "intend," "expect," "will," "may," "could," "potential," and other similar words or expressions that predict or indicate future events. All statements that are not statements of historical fact are forward-looking statements, including any statements regarding the non-binding letter of intent and the proposed transaction described in this press release, including the Board of Directors' review and evaluation of the proposal, whether definitive agreements will be negotiated or executed, whether any transaction will be consummated, and the potential value, terms, structure, timing or benefits of any such transaction, any statements regarding our strategy, future operations, and growth prospects, including expectations relating to the Company's CPG division and the number of locations in which such products will be carried, any statements regarding the amount or timing of future revenue or revenue growth, any statements regarding future economic conditions or performance, any statements of belief or expectation, and any statements of assumptions underlying any of the foregoing or other future events. Forward-looking statements are based on current information available at the time the statements are made and on management's reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company's control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements, including, among other things, the risk that the parties do not negotiate or execute definitive agreements with respect to the proposed transaction, that any transaction is not consummated on the terms contemplated, on the anticipated timeline, or at all, or that the anticipated benefits of any transaction are not realized. Additional factors or events that could cause actual results to differ may also emerge from time to time, and it is not possible for the Company to predict all of them. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and our subsequent filings with the Securities and Exchange Commission ("SEC"), which are available on the SEC's website at www.sec.gov, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.
Investor Relations Contact
Lucas A. Zimmerman
Managing Director
MZ Group - MZ North America
(949) 259-4987
GENK@mzgroup.us
www.mzgroup.us
GEN RESTAURANT GROUP, INC.
Condensed Consolidated Statements of Comprehensive Loss
(in thousands, except per share amounts; unaudited)
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
Revenue | $ | 55,729 | $ | 55,041 | $ | 109,626 | $ | 112,377 | ||||||||
Restaurant operating expenses: | ||||||||||||||||
Food cost | 21,775 | 18,623 | 42,278 | 37,885 | ||||||||||||
Payroll and benefits | 15,614 | 16,561 | 32,892 | 34,749 | ||||||||||||
Occupancy expenses | 5,334 | 5,121 | 11,113 | 10,212 | ||||||||||||
Operating expenses | 6,755 | 5,905 | 13,238 | 11,831 | ||||||||||||
Depreciation and amortization | 2,354 | 2,221 | 4,690 | 4,214 | ||||||||||||
Pre-opening costs | 1,327 | 2,051 | 3,108 | 4,699 | ||||||||||||
Total restaurant operating expenses | 53,159 | 50,482 | 107,319 | 103,590 | ||||||||||||
General and administrative | 7,113 | 6,403 | 14,010 | 12,773 | ||||||||||||
Loss on lease termination | 611 | - | 611 | - | ||||||||||||
Gain on deconsolidation of restaurants | (53 | ) | - | (53 | ) | - | ||||||||||
Depreciation and amortization - corporate | 51 | 36 | 99 | 70 | ||||||||||||
Total costs and expenses | 60,881 | 56,921 | 121,986 | 116,433 | ||||||||||||
Loss from operations | (5,152 | ) | (1,880 | ) | (12,360 | ) | (4,056 | ) | ||||||||
Employee retention credits | - | 313 | - | 313 | ||||||||||||
Other gain (loss) | 621 | (300 | ) | 615 | (300 | ) | ||||||||||
Gain (loss) on foreign currency | 1 | (14 | ) | (11 | ) | (14 | ) | |||||||||
Interest (expense) income, net | (314 | ) | 67 | (540 | ) | 127 | ||||||||||
Net loss before income taxes | (4,844 | ) | (1,814 | ) | (12,296 | ) | (3,930 | ) | ||||||||
Benefit for income taxes | (211 | ) | (116 | ) | (464 | ) | (268 | ) | ||||||||
Net loss | (4,633 | ) | (1,698 | ) | (11,832 | ) | (3,662 | ) | ||||||||
Less: Net loss attributable to non-controlling interest | (3,879 | ) | (1,437 | ) | (9,910 | ) | (3,100 | ) | ||||||||
Net loss attributable to GEN Restaurant Group, Inc. | (754 | ) | (261 | ) | (1,922 | ) | (562 | ) | ||||||||
Weighted-average shares of Class A common stock outstanding - basic and diluted | 5,364 | 5,132 | 5,348 | 5,073 | ||||||||||||
Net loss per share of Class A common stock - basic and diluted | $ | (0.14 | ) | $ | (0.05 | ) | $ | (0.36 | ) | $ | (0.11 | ) | ||||
GEN RESTAURANT GROUP, INC.
Selected Balance Sheet Data and Selected Operating Data
(in thousands, except restaurants and percentages; unaudited)
June 30, | December 31, 2025 | |||||||
Selected Balance Sheet Data: | ||||||||
Cash and cash equivalents | $ | 5,930 | $ | 2,824 | ||||
Total assets | $ | 247,784 | $ | 259,856 | ||||
Total liabilities | $ | 230,317 | $ | 231,850 | ||||
Mezzanine equity | $ | 1,500 | $ | 1,500 | ||||
Total permanent equity (including non-controlling interest) | $ | 15,967 | $ | 26,506 | ||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
Selected Operating Data: | ||||||||||||||||
Restaurants at end of period | 54 | 50 | 54 | 50 | ||||||||||||
Comparable restaurant sales performance | (9.3 | )% | (7.2 | )% | (9.1 | )% | (4.4 | )% | ||||||||
Net loss | $ | (4,633 | ) | $ | (1,698 | ) | $ | (11,832 | ) | $ | (3,662 | ) | ||||
Net loss margin | (8.3 | )% | (3.1 | )% | (10.8 | )% | (3.3 | )% | ||||||||
Adjusted EBITDA | $ | (41 | ) | $ | 1,854 | $ | (3,201 | ) | $ | 3,104 | ||||||
Adjusted EBITDA margin | (0.1 | )% | 3.4 | % | (2.9 | )% | 2.8 | % | ||||||||
Loss from operations | $ | (5,152 | ) | $ | (1,880 | ) | $ | (12,360 | ) | $ | (4,056 | ) | ||||
Loss from operations margin | (9.2 | )% | (3.4 | )% | (11.3 | )% | (3.6 | )% | ||||||||
Restaurant-level adjusted EBITDA | $ | 6,310 | $ | 8,958 | $ | 10,304 | $ | 17,918 | ||||||||
Restaurant-level adjusted EBITDA margin | 11.3 | % | 16.3 | % | 9.4 | % | 15.9 | % | ||||||||
GEN RESTAURANT GROUP, INC.
Reconciliation of Net Loss to EBITDA and Adjusted EBITDA
(in thousands, except percentages; unaudited)
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
EBITDA: | ||||||||||||||||
Net loss | $ | (4,633 | ) | $ | (1,698 | ) | $ | (11,832 | ) | $ | (3,662 | ) | ||||
Net loss margin | (8.3 | )% | (3.1 | )% | (10.8 | )% | (3.3 | )% | ||||||||
Interest expense (income), net | 314 | (67 | ) | 540 | (127 | ) | ||||||||||
Benefit for income taxes | (211 | ) | (116 | ) | (464 | ) | (268 | ) | ||||||||
Depreciation and amortization | 2,405 | 2,257 | 4,789 | 4,284 | ||||||||||||
EBITDA | $ | (2,125 | ) | $ | 376 | $ | (6,967 | ) | $ | 227 | ||||||
EBITDA margin | (3.8 | )% | 0.7 | % | (6.4 | )% | 0.2 | % | ||||||||
Adjustments to EBITDA: | ||||||||||||||||
Stock-based compensation expense (1) | 734 | 734 | 1,468 | 1,468 | ||||||||||||
Litigation accrual (2) | - | 300 | 6 | 300 | ||||||||||||
Employee retention credits (3) | - | (313 | ) | - | (313 | ) | ||||||||||
Loss on lease termination | 611 | - | 611 | - | ||||||||||||
Gain on deconsolidation of restaurants | (53 | ) | - | (53 | ) | - | ||||||||||
Non-cash lease expense (4) | 59 | 127 | 199 | 218 | ||||||||||||
Non-cash lease expense included in pre-opening costs (5) | 733 | 630 | 1,535 | 1,204 | ||||||||||||
Adjusted EBITDA | $ | (41 | ) | $ | 1,854 | $ | (3,201 | ) | $ | 3,104 | ||||||
Adjusted EBITDA margin | (0.1 | )% | 3.4 | % | (2.9 | )% | 2.8 | % | ||||||||
Reconciliation of Loss from Operations to Restaurant-Level Adjusted EBITDA
(in thousands, except percentages; unaudited)
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
Loss from operations | $ | (5,152 | ) | $ | (1,880 | ) | $ | (12,360 | ) | $ | (4,056 | ) | ||||
Loss margin from operations | (9.2 | )% | (3.4 | )% | (11.3 | )% | (3.6 | )% | ||||||||
Depreciation and amortization | 2,405 | 2,257 | 4,789 | 4,284 | ||||||||||||
Pre-opening costs | 1,327 | 2,051 | 3,108 | 4,699 | ||||||||||||
Loss on lease termination | 611 | - | 611 | - | ||||||||||||
Gain on deconsolidation of restaurants | (53 | ) | - | (53 | ) | - | ||||||||||
General and administrative | 7,113 | 6,403 | 14,010 | 12,773 | ||||||||||||
Non-cash lease expense | 59 | 127 | 199 | 218 | ||||||||||||
Restaurant-Level Adjusted EBITDA | $ | 6,310 | $ | 8,958 | $ | 10,304 | $ | 17,918 | ||||||||
Restaurant-Level Adjusted EBITDA margin | 11.3 | % | 16.3 | % | 9.4 | % | 15.9 | % | ||||||||
GEN RESTAURANT GROUP, INC.
Reconciliation of Net Loss to Adjusted Net (Loss) Income and Adjusted Net (Loss) Income Per Share
(in thousands, except per share amounts; unaudited)
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
Net loss | $ | (4,633 | ) | $ | (1,698 | ) | $ | (11,832 | ) | $ | (3,662 | ) | ||||
Pre-opening costs | 1,327 | 2,051 | 3,108 | 4,699 | ||||||||||||
Stock-based compensation (1) | 734 | 734 | 1,468 | 1,468 | ||||||||||||
Legal settlement (2) | - | 300 | 6 | 300 | ||||||||||||
Loss on lease termination | 611 | - | 611 | - | ||||||||||||
Gain on deconsolidation of restaurants | (53 | ) | - | (53 | ) | - | ||||||||||
Tax impact of adjustments | (123 | ) | (143 | ) | (241 | ) | (299 | ) | ||||||||
Adjusted net (loss) income | $ | (2,137 | ) | $ | 1,244 | $ | (6,933 | ) | $ | 2,506 | ||||||
Less: Adjusted net (loss) income attributable to non-controlling interest | (1,791 | ) | 1,052 | (5,809 | ) | 2,120 | ||||||||||
Adjusted net (loss) income attributable to GEN Restaurant Group, Inc. | (346 | ) | 192 | (1,123 | ) | 386 | ||||||||||
Weighted-average shares of Class A common stock outstanding - basic and diluted | 5,364 | 5,132 | 5,364 | 5,073 | ||||||||||||
Adjusted net (loss) income per share of Class A common stock - basic and diluted | $ | (0.06 | ) | $ | 0.04 | $ | (0.21 | ) | $ | 0.08 | ||||||
(1) Stock-based compensation expense: During all periods presented, we incurred expenses related to the granting of restricted stock units to employees. This was recorded in General and administrative expenses.
(2) Litigation accrual: This is an accrual related to a specific, discrete, litigation claim.
(3) Employee retention credits: These are refundable credits recognized under the CARES Act.
(4) Non-cash lease expense: This reflects the extent to which lease expense is greater than or less than contractual rent paid.
(5) Non-cash lease expense included in pre-opening costs: Costs for restaurants in development in which the lease expense is greater than the contractual rent.
SOURCE: GEN Restaurant Group, Inc.
View the original press release on ACCESS Newswire