Segment Reporting (Tables)

9 Months Ended

Sep. 27, 2026

Segment Reporting

Schedule of segment information

Certain financial information relating to the three and nine periods ended September 27, 2026 and the three and nine periods ended September 28, 2025 for each segment is provided below (in thousands).


		STK			Benihana			Grill Concepts			Other⁽¹⁾			Total
For the three periods ended September 27, 2026
Owned restaurant net revenue		$	47,004		$	102,081		$	24,981		$	222		$	174,288
Owned restaurant cost of sales			(11,188)			(17,448)			(5,292)			(8)			(33,936)
Owned restaurant operating expenses			(29,593)			(68,531)			(19,139)			(20)			(117,283)
Restaurant operating profit			6,223			16,102			550			194			23,069
Management, license, franchise and incentive fee revenue			2,167			380			—			123			2,670
General and administrative (including stock-based compensation of $1,006)															(13,323)
Depreciation and amortization															(11,727)
Lease termination and restaurant closure expenses (income)															(1,362)
Pre-opening expenses															(2,727)
Transition and integration expenses															(2,364)
Transaction costs															—
Other expenses (income)															(84)
Interest expense, net of interest income															(10,021)
Loss before provision for income taxes															(15,869)

Reconciliation of total revenues
Owned restaurant net revenue															174,288
Management, license, franchise and incentive fee revenue															2,670
Total revenues														$	176,958

(1)

Other, which is not a reportable operating segment, includes sales and expenses that relate to STK Meat Market, an e-commerce platform that offers signature steak cuts nationwide; sales and expenses that relate to the Company’s major off-site events group, which supports all brands and venue concepts; and revenue generated from gift card programs.


		STK			Benihana			Grill Concepts			Other⁽¹⁾			Total
For the three periods ended September 28, 2025
Owned restaurant net revenue		$	45,832		$	99,994		$	31,383		$	215		$	177,424
Owned restaurant cost of sales			(11,131)			(19,318)			(6,961)			(2)			(37,412)
Owned restaurant operating expenses			(28,822)			(66,748)			(24,303)			(28)			(119,901)
Restaurant operating profit			5,879			13,928			119			185			20,111
Management, license, franchise and incentive fee revenue			2,234			467			—			75			2,776
General and administrative (including stock-based compensation of $1,246)															(13,274)
Depreciation and amortization															(11,530)
Loss on impairment of long-lived assets															(3,386)
Lease termination and restaurant closure expenses (income)															278
Pre-opening expenses															(698)
Transition and integration expenses															(2,607)
Transaction costs															(13)
Other expenses (income)															470
Interest expense, net of interest income															(10,483)
Loss before provision for income taxes															(18,356)

Reconciliation of total revenues
Owned restaurant net revenue															177,424
Management, license, franchise and incentive fee revenue															2,776
Total revenues														$	180,200

(1)

Other, which is not a reportable operating segment, includes sales and expenses that relate to STK Meat Market, an e-commerce platform that offers signature steak cuts nationwide; sales and expenses that relate to the Company’s major off-site events group, which supports all brands and venue concepts; and revenue generated from gift card programs.


		STK			Benihana			Grill Concepts			Other⁽¹⁾			Total
For the nine periods ended September 27, 2026
Owned restaurant net revenue		$	161,198		$	337,971		$	81,101		$	594		$	580,864
Owned restaurant cost of sales			(37,183)			(58,639)			(17,159)			(33)			(113,014)
Owned restaurant operating expenses			(95,572)			(215,969)			(60,765)			(330)			(372,636)
Restaurant operating profit			28,443			63,363			3,177			231			95,214
Management, license, franchise and incentive fee revenue			7,782			1,276			—			329			9,387
General and administrative (including stock-based compensation of $3,277)															(42,353)
Depreciation and amortization															(33,152)
Lease termination and restaurant closure expenses															(4,246)
Pre-opening expenses															(7,057)
Transition and integration expenses															(3,023)
Transaction costs															(26)
Other expenses (income)															(138)
Interest expense, net of interest income															(29,390)
Loss before provision for income taxes															(14,784)

Reconciliation of total revenues
Owned restaurant net revenue															580,864
Management, license, franchise and incentive fee revenue															9,387
Total revenues														$	590,251

(1)

Other, which is not a reportable operating segment, includes sales and expenses that relate to STK Meat Market, an e-commerce platform that offers signature steak cuts nationwide; sales and expenses that relate to the Company’s major off-site events group, which supports all brands and venue concepts; and revenue generated from gift card programs.


		STK			Benihana			Grill Concepts			Other⁽¹⁾			Total
For the nine periods ended September 28, 2025
Owned restaurant net revenue		$	152,017		$	330,735		$	105,489		$	488		$	588,729
Owned restaurant cost of sales			(36,577)			(64,246)			(22,892)			(7)			(123,722)
Owned restaurant operating expenses			(91,169)			(208,903)			(77,859)			(238)			(378,169)
Restaurant operating profit			24,271			57,586			4,738			243			86,838
Management, license, franchise and incentive fee revenue			8,271			1,489			—			219			9,979
General and administrative (including stock-based compensation of $4,348)															(38,027)
Depreciation and amortization															(32,229)
Loss on impairment of long-lived assets															(3,386)
Lease termination and restaurant closure expenses															(5,428)
Pre-opening expenses															(3,958)
Transition and integration expenses															(10,275)
Transaction costs															(143)
Other expenses (income)															147
Interest expense, net of interest income															(30,600)
Loss before provision for income taxes															(27,082)

Reconciliation of total revenues
Owned restaurant net revenue															588,729
Management, license, franchise and incentive fee revenue															9,979
Total revenues														$	598,708

(1) Other, which is not a reportable operating segment, includes sales and expenses that relate to STK Meat Market, an e-commerce platform that offers signature steak cuts nationwide; sales and expenses that relate to the Company’s major off-site events group, which supports all brands and venue concepts; and revenue generated from gift card programs.